Tag Archives: forsyth county

2013 Home Sales Very Strong

According to the National Association of Realtors®; existing home sales (called re-sales) for all of 2013 were the highest since the boom year of 2006.  In all, there were over 5 million sales in 2013, which was over a 9 percent increase from 2012.

The median home price for 2013 nationally was $197,00 which was an 11.5 percent increase from 2012.  It was the strongest gain since 2005.  The percentage of short sales and foreclosures as a part of all sales dropped by half over December 2012.  The increasing median price is partly fueled by the lack of these distressed properties pulling down prices.

Lawrence Yun, NAR chief economist, said housing has experienced a healthy recovery over the past two years. “Existing-home sales have risen nearly 20 percent since 2011, with job growth, record low mortgage interest rates and a large pent-up demand driving the market,” he said. “We lost some momentum toward the end of 2013 from disappointing job growth and limited inventory, but we ended with a year that was close to normal given the size of our population.”

Top Subdivisions in Sales for 2011

I was curious about the top selling mid-range communities in Forsyth County, so I ran a search in FMLS for subdivisions in Cumming, Georgia with home sales during the 2011 calendar year, having 4+ bedrooms and selling between $200,000 and $400,000.  Here’s the top 5 (with ties):

1) Windermere – 15 Sales

2) Fieldstone (all sections) – 13 Sales

3) Polo Golf & Country Club (all sections) – 11 Sales

3) Thorngate – 11 Sales

4) Evans Farm – 10 Sales

5) Green Summers – 9 Sales

5) Jamestown – 9 Sales

Each of these communities had foreclosures and short sales as part of the volume.

Sometimes Mutts are the Best Dogs

Back when my beloved black Lab, Buster, passed away, we didn’t look for a replacement for quite a while.  We wanted a smaller dog than the 110lb small horse that Buster was.  We looked at breeds, etc. and had made a decision.  So, before we went and picked out a pup, we stopped by the local PetSmart to get some supplies.  That day, the Humane Society of Forsyth County was having a pet adoption day.

While this varied off our carefully planned route, a particular dog, Simon really took a liking to my wife.  We talked about it awhile and talked to the representative about his situation (some previous abuse), house training, etc. and decided to take a little leap of faith.  Because we thought his old name of Simon may retain some feelings from his former family, we decided to name him Petey (as a nickname for Peter and as a reference to the Biblical transformation of Simon Peter).   Since the day we brought him home, he has totally infused himself into our family.  Not only is he a fantastic guard dog, he’s by far the most well-trained member of the household.

So, if you’re in the market for a companion, he/she might be waiting for you right now.

Humane Society of Forsyth County

(770) 889-1365 or (770) 887-6480

 

This Month in Real Estate – Nov. 2011

This Month in Real Estate – Oct. 2011

Terminate and Release to Save the Sale

I do a fair amount of training in our offices regarding personality profiles, sales psychology, etc.  A while back, I had a buyer who loved my listing, made an offer and had the inspection done.  She got cold feet and wanted to terminate her offer.  At first, the impulse is to fight and save the deal.  Instead, I had my client do the opposite.

I called them and let them know the whole situation, why the buyer wanted to walk, etc.  I also explained to them that I was going to allow this buyer to quickly get what she wants, give her a week to calm down and then see if I could save it.

Sure enough, we got her the T&R paperwork within hours, which relieved the pressure of her cold feet.  I didn’t communicate with anyone for about a week.  On Monday morning, I called the buyer and asked her if she had seen anything better than my listing over the weekend.  She said no.  I let her know that she wasn’t the only one looking for a home of this quality in this location and that it wouldn’t last much longer.  I empathized with the home buying process she was going through and all the emotions that entails.  After a calm conversation, I asked her if she would like to consider re-engaging.  I told her the sellers understood her situation, etc. and there would be no bad blood.

In the end, we got the deal done and everyone was happy, which is the whole point of real estate – creating Win-Win-Win situations.

Are Buyers Waiting in the Weeds?

I’ve been watching something the last 60 days that I’ve personally decided may be a trend here in Cumming, Forsyth County, Georgia.

I’ve noted several examples of this phenomenon, but I’ll use one property as an example.  I listed this two-story, late 90’s build home with a finished terrace level last September for $365,000.  The home is very well maintained, has a great back yard with both a sun deck and a screened porch.  The owner told me that they wanted to go ahead and get on the market, but really wasn’t going to be motivated to sell until Spring 2011.  After a few showings, we reduced the price to $350,000 sometime in late 2010.  All through the listing period, the property received at least one showing a week, with a little lull during the Holidays. 

The only negative about this property is that it has a steep driveway up to the garage entrances, which I pointed out during the listing appointment and was confirmed from showing feedbacks.  After looking at our local market trends (prices still moving slowly downward), recent sales (very few) and the competition, I counseled my client to go ahead and drop the price to $340,000.  That goes against my personal philosophy of pricing homes at specific price points, such as at $350,000. 

(As an aside, buyers search from $325k – $350k or $350k to $400k.  A price at $340k would cause us to miss buyers starting their search at $350k.  That’s why I try to price property at search points.)

So, I dropped the price on Sunday morning.  Since that time, I’ve had one showing each on Monday – Wednesday and two showings today (Thursday).  I’m fairly convinced, but with fingers crossed and a rabbits foot in my pockeet, that we will get this property under contract shortly.

So, what’s the trend I mentioned at the beginning?  Buyers seem to be reticent to physically view a property until the price hits what they believe to be either fair or a sllight deal.  Otherwise, they are just flat skipping equity-seller properties and sticking with foreclosures and short sales (which represent about 50% of the sales in Forsyth County).