Coming Soon: A Deal in Walton High School District
Posted in: East Cobb Real EstateFor those looking to get into the Walton High School district at a deep discount, there will be an aggressively priced home coming on the market in the next 14 days. Price is yet to be determined but rest assured, it will be aggressive. Walton High School consistently ranks #1 in the state and in the top 100 nationally.
Here’s what you can get:
- 3 bedrooms / 2.5 baths
- Just under 2000 sq. ft.
- Large, level lot with big private back yard
- Formal living room, large family room
- Separate dining room
- Large deck
- New paint and carpet
- Home faces East
- Price: TBD but well under $200k
All inquires to info@thenorthgroup.com. Showings in advance of listing hitting the market will be scheduled once updates are completed.
Bob Strader is a Realtor whose focus is merging technology and real estate. He specializes in helping buyers search for homes online and leveraging technology to maximize online exposure for home sellers. He is married and lives in Milton, GA with his wife and two daughters.
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4 Real Estate Predictions for North Fulton in 2012
Posted in: Alpharetta Real Estate, Johns Creek Real Estate, Milton Real Estate, New Construction, Roswell Real Estate, Stuff I like to talk about
I know; it’s a dangerous thing to do. Who can really say what will happen with home sales in our area this year. Economists have a hard time predicting jobs, Wall Street and business success or failures. Why should I try to tell anyone what our market will be like this year? My predictions are more like trend watches. I don’t think the average sales price of homes in Alpharetta or Johns Creek are going to start shooting up. I certainly don’t know what home loan rates will do, although in election years they almost always stay very low. But I can make predictions (smart assumptions) on what we are likely to see based on past trends. So, here you go:
1. Certain price points tighten up
Two overall trends I look at each month are unit sales and inventory levels year-over-year. They have both been heading in the right direction with sales consistently increasing and inventory decreasing. Now we’ll see some price points in our area get tighter which will be a boon for home sellers at those points. Look fore homes in the $200k - $300k and $400k - $500k range to remain under 6 months of inventory, possible under 5 months.
2. Land continues to suffer
If you’ve ever thought about buying property or building, it’s never been a better time. I know that sounds like an ad from the National Association of Realtors, but here in Milton, it’s very true. You can get good property under $60k / acre. You may even want to just land bank some capitol. Remember the old adage; they aren’t making any more of it.
3. Builders will apply pressure
Subdivisions are re-sprouting and builders are anxious to start moving inventory and who can blame them. New construction was hit the hardest when the market collapsed. Developers still in the game have been able to grab developed lots in foreclosure at rock bottom prices so the opportunity is there. All this will add more pressure to re-sale home owners, the last thing they need is more inventory to compete against, especially shiny new inventory. The way owners will have to compete is on finishes. Most builders are cutting some of the finishes on current new builds compared to what may already exist in the community. Vinyl rather than tile, PVC shower pans instead of a tiled floor, lower-end appliances, etc. Sellers should look at comps in their community but look at competition in a broader area - or better put, their agent should be doing that for them.
4. Those who can will and those who can’t won’t (mostly)
I’m speaking to sellers now. Through the last 5 years of housing market turmoil there has been no shortage of home owners "testing" the market. Not sure if they can get what they want but putting their home out there to see. And, of course, there are those home owners desperate to sell but upside down in value. It’s the former, not the latter, that have come to their senses and have decided not to list their home.
Did I miss anything?
Bob Strader is a Realtor whose focus is merging technology and real estate. He specializes in helping buyers search for homes online and leveraging technology to maximize online exposure for home sellers. He is married and lives in Milton, GA with his wife and two daughters.
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North Fulton Luxury Home Sales Increased in 2011
Posted in: Alpharetta Real Estate, Johns Creek Real Estate, Luxury Homes, Milton Real Estate, Roswell Real Estate
Luxury homes were hit hard in the downturn as values dropped and money got tight. But what really hurt sales of expensive homes in North Fulton was wealthy buyers sitting on their wallets waiting until they felt that the time was right to buy. What we have seen in 2011 was a clear indication that those exclusive buyers felt things were not going to get worse.
For the purposes of this discussion, I’m using any home sale transaction with a sales price of $1M or higher. Now, that may include a few properties that have homes on large tracts where the structure itself might not be considered a luxury home but the transaction sales price was in the range. Here are the stats:
Units sold in North Fulton were up 34% over 2010 while the number of days on market (DOM) were down 11%. When looking at the average sales price to original list price (SP/OLP) it doesn’t appear that luxury homes are selling near what they are listed at. Take note at the other numbers below.
A few data points that are not in the chart above, in 2011:
- 25% of luxury homes sold in 30 days or less
- 20% of luxury homes sold for a least 90% of asking price
- 31% of luxury homes were purchased with cash
I think that last one bears repeating; 31% of luxury home sales last year were CASH purchases. Savvy buyers and/or investors have put their money where their mouth is and have said now is the right time to buy into this market.
Bob Strader is a Realtor whose focus is merging technology and real estate. He specializes in helping buyers search for homes online and leveraging technology to maximize online exposure for home sellers. He is married and lives in Milton, GA with his wife and two daughters.
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Northview High School Ranks #1 in Atlanta
Posted in: Alpharetta Real Estate, Johns Creek Real Estate, Milton Real Estate, SchoolsParents with kids attending Northview High School will undoubtedly be happy to hear that Atlanta Magazine’s rankings of the Top Public High Schools in Atlanta ranked Northview at the top. No surprise as well is that North Atlanta High Schools (Alpharetta, Milton, Johns Creek and Marietta) performed very well and took quite a few of the spots in the top 10. It’s why so many buyers moving to the area search for homes by school district .
Indicators used to determine rankings were: average SAT scores, graduation tests, graduation rates, AP exams and passing rates, percent of students requiring learning support, HOPE eligibility and college prep diplomas. Schools without a senior class were excluded from the rankings.
Eleven schools also offer an International Baccalaureate program but the results are not included in the Georgia Governor’s Office of Student Achievement Report Card so they aren’t reflected in the rankings. The AP tests are somewhat distorted for these schools as many top students took IB tests instead so only the percentage scoring 3 or above on AP tests was included.
Additionally only schools in the ten-county region that the ARC defines as metro Atlanta were used. This is one indicator I don’t like as Forsyth County is not included. Had it been included I’m sure that South Forsyth High School would have ranked in the top 10 considering it ranks higher in the Newsweek National High School Rankings than some of the schools that made the top 10 in this list.
Here is a list of the top 10 with a portion of the indicators, to see a list of the top 50 with all information, check out the latest issue of Atlanta Magazine:
A few other north Atlanta high schools making the top 50 were: Riverwood 14, Wheeler 19, Roswell 21, Sequoyah in Cherokee ranked 22, Dunwoody 23, Etowah in Cherokee 24 and Centennial 29.
Bob Strader is a Realtor whose focus is merging technology and real estate. He specializes in helping buyers search for homes online and leveraging technology to maximize online exposure for home sellers. He is married and lives in Milton, GA with his wife and two daughters.
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John Smoltz Puts Alpharetta Estate Up For Sale
Posted in: Alpharetta Real Estate, Milton Real Estate
Smoltz threw a lot of strikeouts during his career as a major league pitcher but this gorgeous 22 acre estate is a home run. And, it will be a huge win if he gets close to his asking price. Trust me, the buyer of this little shack will want for nothing.
The Stats
- 18,265 square feet
- 10 bedrooms, 10 full baths and 4 half-baths
- Asking Price: $7,200,000
- HOA fees: $1900/year
- Taxes: $49,039
The Highlights
Gated 22 acre estate located within the gated community of Greystone .
- 8-car garage
- Au-pair suite
- Studio Apartment
- Movie theater with concession area
- Home gym fit for an athlete
- Fully stocked, private pond with oxygenation system; assuring a fresh catch every time
- Custom designed 18-hole golf course
- Tennis courts, basketball courts, baseball diamond, football field and paved jogging path encircling the entire estate.
The Community
Greystone is a gated enclave of 25 homes, with 5 buildable lots still available, located in Alpharetta, Ga. Prices start in the low $1M’s. Schools of excellence, both public and private, are near; including Kings Ridge Christian School which John Smoltz was involved in starting.
Bob Strader is a Realtor whose focus is merging technology and real estate. He specializes in helping buyers search for homes online and leveraging technology to maximize online exposure for home sellers. He is married and lives in Milton, GA with his wife and two daughters.
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Milton Ranks Highest for Quality of Life in Georgia
Posted in: Alpharetta Real Estate, Johns Creek Real Estate, Milton Real Estate, Roswell Real EstateThe Business Journal reported on a study which ranked cities around the country with a Quality of Life (QOL) ranking. The first release identified those rankings in the south, which covered 13 southern states. Out of those 13 states, Milton, GA ranked #9 which was the highest ranked city in the state of Georgia.
The study looked for well-rounded areas with healthy economies, light traffic, moderate costs of living, impressive housing stocks and strong educational systems. Based on that criteria, it’s no surprise that Milton ranked so high with it’s exceptional schools . Several other cities on the north side of Atlanta performed well.
It’s interesting data and, if you live in or are planning on relocating to Milton, Johns Creek, Alpharetta or any other high-ranking city then it’s nice to hear. However, I do have to question any study that would rank the quality of life in Buford and Marietta lower than the City of Atlanta!
Here are the rankings for cities in our area:
| City | QOL Ranking | South QOL Percentile | Population (2009) |
|
|
9 | 99.30% | 15,572 |
| Johns Creek | 15 | 98.78% | 60,628 |
| Alpharetta | 27 | 97.73% | 49,996 |
| Dunwoody | 37 | 96.86% | 38,597 |
| Roswell | 89 | 92.31% | 86,969 |
| Suwanee | 90 | 92.23% | 15,373 |
| Sandy Springs | 99 | 91.44% | 84,488 |
|
Decatur
|
100 | 91.35% | 19,029 |
| Sugar Hill | 113 | 90.22% | 16,607 |
| Duluth | 160 | 86.11% | 25,671 |
| Mountain Park | 174 | 84.89% | 12,223 |
| Woodstock | 181 | 84.28% | 22,274 |
| Kennesaw | 230 | 80.00% | 31,733 |
| Smyrna | 232 | 79.83% | 49,283 |
| Acworth | 234 | 79.65% | 19,327 |
| Fayetteville | 242 | 78.95% | 14,792 |
| Snellville | 250 | 78.25% | 19,881 |
| Lilburn | 261 | 77.29% | 11,642 |
|
Mableton
|
283 | 75.37% | 33,466 |
| Norcross | 357 | 68.91% | 10,357 |
| Atlanta | 409 | 64.37% | 515,843 |
| Buford | 412 | 64.11% | 12,157 |
| Marietta | 537 | 53.19% | 65,009 |
| Lawrenceville | 770 | 32.84% | 28,873 |
| Canton | 790 | 31.09% | 20,775 |
| Gainesville | 914 | 20.26% | 34,048 |
Bob Strader is a Realtor whose focus is merging technology and real estate. He specializes in helping buyers search for homes online and leveraging technology to maximize online exposure for home sellers. He is married and lives in Milton, GA with his wife and two daughters.
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Bank Owned Properties Moving Quickly in North Atlanta
Posted in: Alpharetta Real Estate, Foreclosures, Johns Creek Real Estate, Milton Real Estate, Roswell Real Estate
We hear the news reports almost daily. "U.S. Foreclosure Inventory at Record Levels", "Foreclosure Inventories Climb", etc. I’m not suggesting those reports are inaccurate, but I do want to put our local market here into context. I’m speaking specifically about the cities of Alpharetta , Milton, Roswell and Johns Creek.
While inventories are down significantly from the peak, we still have a lot of homes on the market. But as a percentage of the whole, bank-owned properties are relatively small compared to other cities or even other locations around Metro Atlanta.
At the time of this posting, for the four cities I mentioned above: Alpharetta, Milton , Roswell and Johns Creek, there are 109 bank or government owned listings. I am not including short-sales, which are distressed sales to be sure, but still owned by individuals.
So, 109 Active foreclosures and 431 sold bank or government owned properties over the past 12 months. That comes out to approximately 3 months worth of inventory. And for the big picture, right now there are 1587 listings in Alpharetta, Milton, Roswell and Johns Creek. That means the 109 bank owned properties equals 6.8% of the total market.
The Take-Away
For home buyers looking in Alpharetta, Milton, Roswell and Johns Creek , foreclosures are somewhat limited. Demand for those properties are high. The average sales price / list price for foreclosures in November was 93.4%.
I would suggest considering bank-owned properties but not limiting yourself solely to those types of properties. And if you find the right one, chances are several other buyers found it too. Plan on moving quickly or getting into a bidding war.
Bob Strader is a Realtor whose focus is merging technology and real estate. He specializes in helping buyers search for homes online and leveraging technology to maximize online exposure for home sellers. He is married and lives in Milton, GA with his wife and two daughters.
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The BIG Number: November 2011
Posted in: Alpharetta Real Estate, Foreclosures, Milton Real Estate, Roswell Real Estate, The Big Number23%
The percentage of home sales in North Fulton for November that are distressed sales (foreclosure and short sales). With lags coming in over the next week, this will probably go up another 2-4%
On the last day of each month I post a "Big Number" or interesting figure related to real estate.
Bob Strader is a Realtor whose focus is merging technology and real estate. He specializes in helping buyers search for homes online and leveraging technology to maximize online exposure for home sellers. He is married and lives in Milton, GA with his wife and two daughters.
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