January 2010
Great Homes For Sale – Buckhead & Lockridge Forest
January 22, 2010 by Leigh Hays · Leave a Comment
Two great listings – just had price reductions! Lockridge Forest home is now $239,900! Peachtree Dunwoody Home in Buckhead is now $485,000!
There is still time to buy home and take advantage of the tax credits for buyers! Home Buying Tax Credits end April 2010.
Pending Home Sales Index Drops in November 2009
January 11, 2010 by Leigh Hays · Leave a Comment
The NAR announced on 1.5.2010 that the pending home sales index fell in November 2009 from previous month but remains above last year’s numbers. In October 2009 the pending sales index (forward looking indicator based on contracts signed for the month) was 114.3%. November 2009 saw the number falling 16% to 96%. Nov 2009 – 96% is still higher than Nov 2008′s 83.1%.
The October 2009 surge benefited from the last push for the first time buyer tax credit. With the extension of the first time buyers tax credit and the addition of the buying tax credit for other qualifying buyers and the low interest rates - we will hopefully see a surge in 2010′s number.
Existing Sales – November 2009
January 11, 2010 by Leigh Hays · Leave a Comment
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South is definitely seeing some improvement and movement in the market. While we will have to wait a few more weeks for the December 2009 numbers - what will be more important is the cumulative numbers for the year 2009.The following information is provided by NAR in their November 2009 update. Data was released at the end of December. The data is for resales. Regional Sales by Price |
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| Existing Single Family Homes | ||||||
| November 2009 | ||||||
| % Change in Sales from 1 Year Ago | ||||||
| Region | $0-100K | $100-250K | $250-500K | $500-750K | $750K-1M | $1M+ |
| Northeast | 29.1% | 75.3% | 50.5% | 31.7% | 9.4% | 30.2% |
| Midwest | 44.0% | 70.0% | 47.6% | 29.9% | 10.7% | -13.1% |
| South | 24.5% | 53.6% | 37.9% | 55.2% | 60.6% | 28.4% |
| West | 28.9% | 46.8% | 24.3% | 35.9% | 58.2% | 64.2% |
| U.S. | 32.4% | 60.0% | 38.8% | 38.2% | 40.7% | 39.0% |
| Sales Distribution | ||||||
| Region | $0-100K | $100-250K | $250-500K | $500-750K | $750-1M | $1M+ |
| U.S. | 20.8% | 49.8% | 22.1% | 5.0% | 1.2% | 1.1% |
Lockridge Forest – SOLD
January 6, 2010 by Leigh Hays · Leave a Comment
SOLD!!!!!! Great house for sale – 3928 Locklear Court. Priced to sell at $247,000 $239,900. Home has 3 bedrooms, 2 baths (plus 1/2 bath in laundry), sun room, partially finished basement and tons of storage. Home has been well taken care of and has new windows. Lot is very private with mature trees and on a cul de sac. Great Neighborhood with excellent swim & tennis available. 3928 Locklear Court Virtual Tour.
Cash Buyers Creating Bidding Wars
January 5, 2010 by Leigh Hays · Leave a Comment
We saw this quite a bit in 2009 here in Atlanta - foreclosed properties receiving multiple bids. The winners of the bids are often cash offers from investors leaving would be homeowners scratching their heads wondering how to win the bid. Here is a great article from the Washington Post about Cash Buyers Triggering Bidding Wars.
There are some great options for folks looking to buy and live in the home – such as the HUD programs which allow for owner occupied bids over investor bids for the first 2 weeks of property being listed. The catch on some of these homes is the bidder needs cash to cover any overages and/or closing costs.
I had a client this past fall who successful outbid the other offers on the table with a financing contingency. We went over on the asking price but he has moved in and has a great house in a great area. And though he paid over the asking price, the house was still below what has sold in the area and needed minimal repairs.
Remember the tax buyer credit is still out there!
