Category Archives: duluth

Atlas Chalet Shingles?

Monday, 16 November 2015 10:57

Written by Lane Bailey

1 Comment

Welcome to the newest scourge of home construction… Atlas Chalet shingles. It looks like they might go down the same path as synthetic stucco and pressed board siding. Lawsuits, big money outlays for home-owners and fear for home-buyers and sellers alike.

The brief history would be that Atlas Chalet shingles were marketed from the early 1990s until around 2010 as a lower-cost “architectural shingle” option. The gave the look of a higher end architectural shingle, while installation and cost was more like a traditional composite shingle. However, problems started popping up with the quality of the shingle.

If you have a house that was built or re-roofed from 1990 until 2010, there is a fair chance it has Atlas Chalet shingles… while certainly not on every house, they were quite popular for several years and tens of thousands of homes around Georgia have them.

What can I do about it, you say?

There are a few options open to home owners with the shingles…

pay to replace them… out of your pocket…
pray for storm damage and an insurance company that will spring for their replacement…
ignore the problem…

Obviously, before you pay to replace a perfectly good roof, you should get an inspection. Some roofers will be happy to do a full inspection of the roof to determine what product is on it, as well as if there are any current issues. If you are considering selling your home, GET IT INSPECTED!!! Nothing will ruin your day like having an unexpected, but avoidable issue like this pop up from the buyer’s inspection. And when the buyer’s inspector catches it, he is likely going to go into full “deal destruction mode”. At that point, almost anything short of replacement out of your pocket… before consummating the sale… will kill the contract.

Which brings us to our first option… just sucking it up and replacing the roof out of your own pocket. There are actually some roofers out there that will tell you about how they “work with the insurance company to replace your roof on their dime”… but what they are failing to tell you is that the insurance companies are ONLY going to pay if there is damage. And even then, depending on how much damage there is, they may not spring for a full replacement. Frankly, if you have a 20 year old roof (Atlas Chalet shingles were marketed as a 30 year roof…) it might just be time to replace it and take the hit.

If your roof is newer, and fully functional, you are not in a good place (well, you are… the roof is working, right?). It isn’t old enough for you to justify dropping $10k or $20k on replacing a 5 or 10 year old roof. The insurance isn’t going to want to eat that cost either, for a roof that is doing its job. Further, there are reports that some insurance companies are cancelling policies at renewal if they find out that you have the Atlas Chalet product up there.

If you aren’t selling your home, as much as I hate to say, it, you might just hope for a hail storm…

Honestly, most home-owners are going to take the “head in the sand” approach and hope that they don’t have a problem. If they are selling, they are going to not disclose… because they don’t know for sure. And, since there aren’t any settled lawsuits that I know of, the product is neither recalled nor ruled defective, they don’t “need” to disclose it if it is there. BUT… this WILL bite them in the butt if they are trying to sell. A home inspector will find the roof and will notify the buyers and the whole transaction will almost assuredly blow up and fall apart.

If you are planning on selling your home in the next couple of years…

At the very least, you should get informed about this product. If you have paperwork from the construction of last time the roof was replaced, check to see what product was used. If you have the Atlas Chalet shingles… you will know what may come up. If you DON’T have these shingles, you will be prepared if the buyer’s inspector wrongly tags you with these shingles… which certainly can happen.

If you have these shingles, you might call a roofer to get your roof inspected. Be VERY careful when you select a roofer. There are always some contractors in the world that just want to get your money. They will say whatever they need to say in order to get a check…

Construction Defect Center Now Urges Roofing Contractors Who Have A Homeowner Client Whose Roof Has The Atlas Chalet Shingle To Call Them About Possible Help

Check out the New Walk Score feature

Friday, 24 July 2015 21:41

Written by Lane Bailey

3 Comments

We’ve just dropped a new feature into LaneBailey.com… Walk Score.

You can enter an address and see how “walkable” the neighborhood is. alternately, you can check out commute options from the address to your work address. It will tell you if there is a transit route, bike route or walking path… as well as the time for each (if available).

It is a great way to check out another dimension of properties that you may be interested in… so, search out a home you like and then see what is available for getting to work or around the neighborhood.

Here is our Walk Score page…

Enjoy

Duluth, GA, Market Report, September 2013

Friday, 01 November 2013 09:24

Written by Lane Bailey

0 Comments

Market stats for Duluth, September, 2013 indicated that there were 276 properties on the market, down 16 from last month. Overall, there was about a 3.8 month supply of properties. Sales in September were 72, down from 89 a year earlier. Sales were up compared to the last month (65). Duluth had been slightly leading Gwinnett County as a whole, but not so much over the last few months. It is still in the Seller’s Market zone.

NS in Duluth, GA (Photo credit: djaquay)

In the Under $200k arena, there were 74 listings in Duluth, GA, with about a 2.4 month supply. The Absorption Rate for last September was 2.7. Sales were down this year v last year (37 v 47), but up compared to last month (26). The Absorption Rate (A/R) is a bit better than much of the county. The big story is still inventory… there were 123 homes on the market this time last year.

Between $200k and $400k, there are 74 listings for sale, and about 2.7 months of supply. Absorption rates have similarly risen, dropped and then risen again. Sales were up compared to September, 2012 (23 v 17) but down a touch compared to last month (26). Duluth is a market that favors luxury, and this segment is doing at least as well as I would have expected… but it might be constrained somewhat due to low inventories. It is a solid Seller’s Market.

From $400k to $600k, there were 33 homes on the market. The Absorption Rate was around 7.1 months. September brought in 4 sales. There were 8 last year and 3 last month. Unlike many of the market areas, Duluth is a luxury centric market, and had been doing better than the rest of Gwinnett County, GA, especially at this price level. Four to five months ago we saw a HUGE drop in the A/R. We’ve spent the last few months wandering around in Seller’s Market territory. However, because of the bump in listings and decrease in sales, we are barely back in Buyer’s Market range.

In the $600k to $800k arena, there were 32 listings, with about 6.4 months of supply. Sales were 4 for September… 9 for last year. And month to month sales were down a little (4 v 5). I would like to see three consecutive months with strong sales, and haven’t seen that for a while. Since Duluth does favor luxury sales, it has been looking better than the much of the rest of the County at this price level. That A/R is great, and getting better.

In Duluth, GA, from $800k to $1m, there were 20 homes listed and approximately 6.0 months of inventory on the market. The 3 sales for September wasn’t as good as the 5 last year but flat to the 3 last month. Sales haven’t been moving much for the last couple of months, but 10 sales for the last 3 months were well over the same 3 months from last year (5 sales).

Above $1m, there were 43 properties listed. The current absorption rate indicated about 25.8 months of inventory. A couple of sales at this level could have a large impact on the Absorption Rates. There were 5 sales in the Jul-Sep period this year, and 6 for the same time last year. We should be posting 3-5 sales a month here regularly… and we fell short the last few months but barely had a start with it this month with 1 sale. There were 3 sales last year and there were 2 last month.

Duluth, GA is a suburb of Atlanta, in the heart of Gwinnett County. It actually straddles the county line and has unincorporated portions in South Forsyth County. The population of Duluth is estimated as about 26,000 people as of 2008, but this doesn’t include unincorporated areas outside the city limits, but with a Duluth mailing address. It is also home to Sugarloaf Country Club, a PGA stop until recently. Forbes Magazine rated Duluth 26th in their nationwide survey of the best places to move, and it is one of the wealthiest parts of Georgia. It is also home to the Arena at Gwinnett Center (Home of the ECHL Gwinnett Gladiators) and the former Atlanta Thrashers practice facility (the Duluth Ice Forum). There is a LONG list of celebrities and athletes that call Duluth home, largely because of the country clubs and proximity to Atlanta.

Is $1,000,000 Burning a Hole in Your Pocket? (lanebailey.com)

Duluth, GA, Market Report, July 2013

Friday, 06 September 2013 09:00

Written by Lane Bailey

1 Comment

Market stats for Duluth, July, 2013 indicated that there were 297 properties on the market, up 6 from last month. Overall, there was about a 3.7 month supply of properties. Sales in July were 84, down from 93 a year earlier. Sales were up compared to the last month (79). Duluth had been slightly leading Gwinnett County as a whole, but not so much over the last few months. It is still in the Seller’s Market zone.

NS in Duluth, GA (Photo credit: djaquay)

In the Under $200k arena, there were 90 listings in Duluth, GA, with about a 2.8 month supply. The Absorption Rate for last July was 2.6. Sales were WAY down this year v last year (31 v 51), and down a bit compared to last month (35). The Absorption Rate (A/R) is a bit better than much of the county…

Between $200k and $400k, there are 83 listings for sale, and about 2.9 months of supply. Absorption rates have similarly risen, dropped and then risen again. Sales were up compared to July, 2012 (34 v 27) and compared to last month (28). Duluth is a market that favors luxury, and this segment is doing at least as well as I would have expected… but it might be constrained somewhat due to low inventories. It is a solid Seller’s Market.

From $400k to $600k, there were 30 homes on the market. The Absorption Rate was around 3.9 months. July brought in 7 sales. There were 10 last year and 5 last month. Unlike many of the market areas, Duluth is a luxury centric market, and it is doing better than the rest of Gwinnett County, GA, especially at this price level. Two months ago we saw a HUGE drop in the A/R. We’ve spent the last few months wandering around in Buyer’s Market territory. However, because of the drop in listings and increase in sales, this is ostensibly the best Seller’s Market in the county for this price range.

In the $600k to $800k arena, there were 31 listings, with about 6.2 months of supply. Sales were 6 for July… 3 for last year. And month to month sales were down a little (4 v 6). I would like to see three consecutive months with strong sales, and haven’t seen that for a while. Since Duluth does favor luxury sales, it has been looking better than the much of the rest of the County at this price level. That A/R is great, and getting better.

In Duluth, GA, from $800k to $1m, there were 19 homes listed and approximately 6.3 months of inventory on the market. The 4 sales for July were better than the 0 last year but not up to the 5 last month. Sales haven’t been moving much for the last couple of months, but 9 sales for the last 3 months were well under the same 3 months from last year (12 sales).

Above $1m, there were 44 properties listed. The current absorption rate indicated about 11 months of inventory. A couple of sales at this level could have a large impact on the Absorption Rates. There were 12 sales in the May-Jul period this year, and 8 for the same time last year. We should be posting four sales a month here regularly… and we fell short the last few months but barely had a start with it this month with 2 sales. There were 2 sales last year and there was 2 last month.

Is $1,000,000 Burning a Hole in Your Pocket? (lanebailey.com)

Duluth, GA, Market Report, June 2013

Monday, 05 August 2013 09:13

Written by Lane Bailey

2 Comments

This map shows the incorporated and unincorpor...

Image via Wikipedia

Market stats for Duluth, June, 2013 indicated that there were 291 properties on the market, up 15 from last month. Overall, there was about a 4.0 month supply of properties. Sales in June were 79, down from 98 a year earlier. Sales were down compared to the last month (80). Duluth had been slightly leading Gwinnett County as a whole, but not so much over the last few months. It is still in the Seller’s Market zone.

In the Under $200k arena, there were 78 listings in Duluth, GA, with about a 2.5 month supply. The Absorption Rate for last June was 2.8. Sales were WAY down this year v last year (35 v 52), and up compared to last month (31). The Absorption Rate (A/R) is a bit better than much of the county…

Between $200k and $400k, there are 83 listings for sale, and about 3.5 months of supply. Absorption rates have similarly risen, dropped and then risen again. Sales were up compared to June, 2012 (28 v 21) and compared to last month (25). Duluth is a market that favors luxury, but this segment is not doing as well as I would have expected… but it might be constrained somewhat due to low inventories. It is still a Seller’s Market.

From $400k to $600k, there were 31 homes on the market. The Absorption Rate was around 3.7 months. June brought in 5 sales. There were 13 last year and 11 last month. Unlike many of the market areas, Duluth is a luxury centric market, and it is doing better than the rest of Gwinnett County, GA, especially at this price level. Last month saw a HUGE drop in the A/R. We’ve spent the last few months wandering around in Buyer’s Market territory. However, because of the drop in listings and increase in sales, this is ostensibly the best Seller’s Market in the county.

In the $600k to $800k arena, there were 33 listings, with about 7.1 months of supply. Sales were 4 for June… 5 for last year. And month to month sales were down a little (4 v 5). I would like to see three consecutive months with strong sales, and haven’t seen that for a while. Since Duluth does favor luxury sales, it has been looking better than the much of the rest of the County at this price level. That A/R is great, and getting better.

In Duluth, GA, from $800k to $1m, there were 23 homes listed and approximately 8.6 months of inventory on the market. The 5 sales for June were worse than the 6 last year and the 0 last month. Sales haven’t been moving much for the last couple of months, but 8 sales for the last 3 months were well under the same 3 months from last year (13 sales).

Above $1m, there were 43 properties listed. The current absorption rate indicated about 11.7 months of inventory. A couple of sales at this level could have a large impact on the Absorption Rates. There were 11 sales in the Apr-Jun period this year, and 8 for the same time last year. We should be posting four sales a month here regularly… and we fell short the last few months but barely had a start with it this month with 2 sales. There was 1 sale last year and there was 8 last month.