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Category Archives: lilburn

Flashback Friday… Where in the World is Lilburn?

Friday, 10 December 2010 08:25
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Last year I wrote a nice little post about Lilburn…  This is a really nice place to live, and I thought it might be fun to dive into the history of the town.  It certainly is interesting, as are the histories of many of the localities around Gwinnett County, GA.

I’ll let you read the post to find out that history, but I wanted to add a little bit to it…

My wife and I have made this area of Gwinnett County, GA,  our home for the last nine years… and she lived nearby, in Tucker, prior to that.  We decided to stay here to raise our two boys, as well.  And we are constantly glad over that decision.

A couple of weeks ago, while at the Arcado Elementary School Night at the local Chick-fil-a, there was a constant stream of friends and neighbors chatting and catching up.  A week before that, at a Family Night event, it was much the same.  During trips to the grocery store, we run into the parents of classmates of our kids, clients, friends and neighbors.  A trip to the park is much the same.

All of that is to say that there is a tremendous sense of community here.  Belonging.  Acceptance.

A few months ago, a little boy named Al suffered life threatening burns.  The community rallied to his support, hosting fund-raisers and looking for other ways to help his family during their time of need.  Al has made an incredible recovery, and has actually been able to return to school.  But the outpouring of support hasn’t waned.

A visit to a Parkview High School football game or even a quick run up to Bruster’s Ice Cream yields a similar result… friends, neighbors and others we know from the community are there with warm greetings.

This is a wonderful place to call home.  If you’d like to live here… give me a call.  Lane Bailey.  678-200-5895.

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Zestimate Accuracy in the Atlanta GA Area…

Thursday, 09 December 2010 08:54
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Representation of high accuracy and low precision.
Image via Wikipedia

Ever since they were first introduced, Zillow’s ‘Zestimates’ have created a stir.  Some herald them, while other decry them.  But, Zillow’s Zestimates are a great tool for homeowners and those looking at buying, whether they are familiar with the area or not.

But the Zestimates DO have a limit.  They aren’t terribly accurate.  On the good side, though, Zillow is nice enough to tell us how accurate they are for some areas.  But, even the accuracy may need to be interpreted.

Let’s see if we can shed some light on Zestimate accuracy for the Atlanta, GA, area. For the sake of this example let’s assume that the Zestimate is exactly $200,000.  This is a nice, round number that makes calculations easier.

  • Median error for the Atlanta area is 15.3%.  That means that half of the homes have an error of less than 15.3%, while half have an error higher than 15.3%.  In other words, half of the homes that would be valued at $200,000 are worth between $169,400 and $230,600.  the other half are worth more than $230,600 or less than $164,900 (should be around 25% too high, 25% too low).
  • About 58% are actually worth between $160,000 and $240,000.
  • About 36% are worth between $180,000 and $220,000.
  • Only 19% are worth between $190,000 and $210,000.

The bottom line is that Zestimates, in the Atlanta area, are pretty rough.  There is only a 1 in 5 chance of the home’s value being within 5% of the Zestimate.  In other words, it is not a precision tool…

In my experience, most sellers are sure that the Zestimate is too low, and most buyers are convinced it is too high.  It is just as likely to be one as the other…

But Zestimates ARE still useful…

Like any tool, they need to be used the right way.  My Zillow contacts (and I have met and enjoyed talking with several of the fine folks at Zillow) have stated that the distribution of Zestimate error is just as likely to be high as low.  Look at the target in the graphic.  None of the shots hit the center of the target… but the AVERAGE of them is quite close.  And the same holds true of Zestimates.

Taken as a whole, when looking at larger areas (the larger, the better), they provide a very accurate look at the broader market.  But, as we narrow down to more specific areas, they get cloudier and cloudier.

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Interesting Homes Around Lilburn GA

Tuesday, 07 December 2010 08:42
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Category:Images of Atlanta, Georgia
Image via Wikipedia

Lilburn, GA, is a great place to live.  There are some great schools, and the community is both close knit and welcoming.

Parkview High School is one of the highest rated schools in Georgia… and it has been for decades.  The feeder schools, like Trickum Middle School and Arcado Elementary School, also have great reputations.

It is also very convenient to both downtown Atlanta and shopping areas like the Mall of Georgia and Discover Mills.  While it isn’t exactly a short drive to Cobb County (Marietta, Kennesaw, etc.), it is very close to Suwanee and Duluth, which have been experiencing tremendous business growth.

This property is currently the most expensive property in the Arcado District.  Because of the rules of the MLS, I can’t identify the property by address or pictures, though.  It does have two 2 car garages, the detached one has a lift and unfinished storage space.  Of course there is a full basement and 6 bedrooms…  It is priced a little north of $450,000…

If this is a property that might interest you, you want to see other homes with big garages around Gwinnett County, GA or in the Lilburn area, give me a call…

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Lilburn, GA Market Report, October 2010

Saturday, 20 November 2010 08:49
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Lilburn, GA, October 7, 2009 -- The Gwinnett C...
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Market stats for Lilburn, October, 2010, indicates that there are 444 properties on the market (as of October 31st). Overall, there is about a 10.7 month supply of properties.  Lilburn is actually mid-pack among cities in Gwinnett County.  Absorption Rates had been improving since March, until September.  In fact, in March there was 15.3 months of inventory.

In the sub-$200k arena, there are 278 listings, with about an 8.2 month supply.  This represents most of the sales in the market area, and reflects the same improvement in inventory levels, continuously since March, until October.  And, one other thing to keep in mind is that sales were strong compared to October 2009 (32 v 26).

Between $200k and $400k, there are 139 listings for sale, and about 24.5 months of supply. This segment has also been getting stronger each month since March, until last month.  There were only 2 sales in September 2010, compared to 11 last year and 6 in October v 18 in 2009.

From $400k to $600k, there are 21 homes on the market. The absorption rate is around 15.8 months. There  were no sales in this segment in May, June, July or October this year.  There were only 4 sales in August and September(combined).  Last summer was much stronger overall.  With just a few sales, just one or two can make a huge difference.

Above $600k, there are 6 listings, but too few sales to have any sort of reliable number of months of inventory.  There has been one sale in the last three months, but prior, there had only been a few other sales in 2010 (January, March and August).  One of the listings is above $800k, and there is no market activity in the last 12 months for that range…

Lilburn is in Gwinnett County, GA, just outside of Atlanta.  As of the 2000 Census, there were 11,307 people in Lilburn, but that is only including people in the city limits, and there has been a lot of growth since 2000 in Gwinnett County.  It was incorporated in 1910.  Lilburn is home to Parkview High School, and also has students that the Brookwood, Berkmar and Meadowcreek clusters. It is also home to Killian Hill Christian School, Providence Chrisian Academy, St. John Neumann Catholic School and Parkview Christian School.  Possibly the most famous resident of Lilburn is General Beauregard Lee, a groundhog with a better winter prediction record that Puxatawnee Phil up in PA. Dominique Wilkins, formerly of the Atlanta Hawks also lives in Lilburn.

I have a page dedicated to Lilburn Market Data.

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There is a new City Hall coming to Lilburn, GA…

Saturday, 30 October 2010 08:38
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It will take two to three years, but Lilburn is slated to get a new City Hall.  There will also be a new Library, and the current City Hall will go to the Police Department… the chambers where the Council meetings are held will be a new courtroom in the Police Department.

The best part is that Gwinnett County is picking up part of the cost, with much of the rest being paid for by SPLOST (Special Purpose Local Option Sales Tax).  According to city officials, maintenance costs will drop after the adoption of the new City Hall.

The new City Hall will be built on 5 acres near Main Street and US29 (Lawrenceville Hwy.).

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