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Category Archives: gwinnett

$34M for a Royal Wedding? What Does That Get in Gwinnett County GA?

Monday, 02 May 2011 08:36
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Cover of "Royal Wedding"

Cover of Royal Wedding

Are you “Royal Wedding”ed out yet?  Honestly, I was a bit over it a week ago.  I appreciate the historic significance of the event, but knowing what type of diapers Kate and William wore as infants and interviews with people that saw them in the hallways at grade school is a little much.

And then I heard that the estimated cost of the event was between $34M and $60M (British Tax Payers shelled out about $30M for security in addition to the cost of the nuptials…).  And I got to wondering…

What kind of Real Estate would $34M buy in Gwinnett County, GA?

Honestly, that would be a REALLY generous budget around here.  The most expensive house listed in the county right now is “only” $6,750,000.  It is lovely 8 bedroom, 10 full/2 half bathroom home in the Sugarloaf Country Club (and it you want to buy it, I would be GLAD to help you out… Proof of Funds are required for showings).

There would even be a nice chunk of change left over to buy a warehouse to keep the toys in… and there would be a pretty nice toy budget in there, as well.

What about a nice lake house on Lake Lanier?

Well… I happen to know of one.  it is a mere $4,500,000 and has 5 bedrooms, 5 full baths and 2 half baths.  There is also a 6 car garage and just over 6 acres of grounds… with 750 feet of lake frontage.  Lake Lanier is just north of the Atlanta Metro area, between Gainesville and Cumming, GA.  It borders Gwinnett, Hall and Dawson Counties.

 

There are some homes in Buckhead and a few other areas around here where there are homes between $10M and $20M… but these are pretty interesting homes.  And $34,000,000 is a LOT of money.  In fact, ALL of the homes sold in Lilburn, GA, during the 1st Quarter of 2011 totaled up to about $16,800,000.  That is a lot of coin…

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Sugar Hill, GA, Market Report, March 2011

Thursday, 28 April 2011 08:45
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This map shows the incorporated and unincorpor...

Image via Wikipedia

Market stats for Sugar Hill, GA , March, 2011 indicate that there are 250 properties on the market. Overall, there is about an 12.9 month supply of properties.  Sales have been fairly steady since July (aside from a bump in December), but inventories were rising, and along with it, the number of months of inventory (that is the wrong way…).  January had an odd drop in inventory this year.  Even more odd is a slight drop for February.  March started moving back up again… and I was really looking forward to a better Absorption Rate.

For Sugar Hill homes priced under $200k, there are 182 listings, with under 13.3 months supply.  There were 15 sales this March and 16 last year for the same time.  Inventories have been rising steadily.  Sales have been flat or slightly down.  We really need to see a bump next month… at least we hope to see the bump.

Sugar Hill Listings between $200k and $400k, there are 59 listings for sale, and about 14.8 months of supply.  Last May there was only a 6.75 month supply.  This segment really took a beating.  Sales have been up and down over the last few months, but February was bad… 1 sale.  This March, there were 8 sales, v 11 last year.

For listings in the $400k to $600k range, there are 6 homes on the market. The absorption rate is around 30 months, but with 1 sale 7 months ago, it is tough to calculate accurately.  Obviously, a sale or two could make a BIG difference.  There were only 3 sales in this segment last year.  In 2009, there were almost twice as many sales in this price range.  I hope to see some activity in this segment in April and May.

In the $600k to $800k, $800k to $1m and Above $1m (combined), the sales are too inconsistent to have a solid read on, but there are only 3 homes listed for sale in that price range.  No sales have been recorded in the last 18 months or so.

Sugar Hill, GA is a suburb of Atlanta in Gwinnett County. The population is 2000 was 11,399, but that only included the area inside the city limits.  The name comes from a bag of Sugar that spilled on a hill while in transit between Cumming and the railroad in Buford.  And while it is actually a big market, it is in the shadows of Lawrenceville, Duluth and Suwanee… which all are nearby.  That also makes it a great location, as it is close to everything that Gwinnett County, GA has to offer.

I have a page dedicated to Sugar Hill Market Data.

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Wayback Wednesday… Property Tax Valuations…

Wednesday, 27 April 2011 08:42
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International Money Pile in Cash and Coins

Image by epSos.de via Flickr

It’s that time again.  Last week we got our tax valuation reassessed.  For us, it wasn’t a bad thing and honestly, it hasn’t been for the folks I have talked with.  Let me qualify that… for the amount of tax we pay, it wasn’t a bad thing.

Two years ago, Gwinnett County re-assessed our home.  The jacked us up by about 12%, even though there was NO justification in the comps.  They got away with it because it wasn’t worth the fight for us to carry on.  We disputed it a couple of levels, but eventually dropped it.

Oddly, this was almost exactly two months after the State of Georgia passed a law requiring the counties to consider foreclosures and short sales in the valuation process.  I think it might have been their “last hurrah” before having the valuations that were based in reality.

As mentioned, we got our valuation last week.  And it went down… way down.  in fact, it dropped by more than twice as much as it went up… we were down over 25%.  Good news for the house payment.  Bad news for the value of our house.  Bad news for Gwinnett county… the budget is not going to be happy with all of these lower valuations.

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Suwanee, GA, Market Report, March 2011

Tuesday, 26 April 2011 08:00
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This map shows the incorporated and unincorpor...

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Market stats for Suwanee, GA, March, 2011 indicate that there are 621 properties on the market. Overall, there is about an 13.2 month supply of properties.  There was less that 8 months of inventory as recently as June.  While February sales were up dramatically from last year, March sales were down.  inventory was flat compared to 2010.  The strong February sales are the main reason that the Absorption Rate is down.

In the Under $200k arena, there are 164 listings in Suwanee, GA, with about a 8.9 month supply.  In June, there was a 4.8 month supply.  Inventories have increased, until September, as sales have slowed…   For March, there were 19 sales, compared to 20 a year earlier.  February looked better than January, but March wasn’t so hot.

Between $200k and $400k, there are 299 listings for sale, and 12.8 months of supply.  Sales in March 2011 were 28, compared with 34 for the same period in 2010.  Weak, and even with the decrease in listings, the Absorption Rate got a bit worse.  Listings were down for March from 311 last year.

From $400k to $600k, there are 94 homes on the market. The absorption rate is at 25.6 months.  There were 5 sales this year (Feb)… down from 10 last year.  Even looking at the three month average, there were 11 sales this year and 20 for the same period last year.  The only good part is that listings are down slightly.

In the $600k to $800k arena, there are 26 listings, with about a 26 month supply.  Sales at this level are not consistent.  Looking at one month makes the numbers jump.  For the last three months, sales were 3…  For the sale time last year, the sales were 6.  The segment weakened , but we can’t call a trend yet… last month it was looking stronger.

The range from $800k to $1m, there are 12 homes listed and 3+ years of inventory on the market.  There were only been 4 sales at this price level last year (1 each in January, April, May and December).  This is a tough segment to try to sell in right now.

In Suwanee, GA, Above $1m, there are 26 properties listed. The current absorption rate indicated about 78 months of inventory, but because of the smaller numbers of sales, this could be significantly impacted by just a couple of sales.  Again, we can thank reduced inventory for making the market look healthier (1 sales in Jan-Mar this year and 4 last year).  But, in this segment, we should be seeing reduced inventories…  There were 40 homes listed in this segment at this time last year.

Suwanee, GA is a suburb of Atlanta in Gwinnett, Forsyth and (just a little bit) in Fulton Counties. The population is 2000 was 8,725, but that only included the area inside the city limits, and it had seen tremendous growth since that census.  Money Magazine rated Suwanee in the “Top 10 Best Places to Live” in 2007, and it is one of the wealthiest parts of Georgia. Recently, the City of Suwanee has revamped their old town, adding a large park with a bandshell, condos, town homes and small businesses. It is also home to North Gwinnett High School, Peachtree Ridge and Collins Hill. I have a page dedicated to Suwanee Market Data.

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Photo Friday… Rope=Bridge

Friday, 22 April 2011 08:09
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G on a rope bridgeLast weekend was the annual ScoutBlast at the Gwinnett County Fairgrounds.  The Northeast Georgia Council holds the event each year to allow the Scout from different Packs and Troops to get together as well as allow the public to see what sort of cool things they can come up with in camp.

There were:

  • rope bridges
  • a kayaking pond
  • a “Cub Car” track
  • rod & reel casting
  • a rotating swing
  • compressed air rockets
  • a trebuchet
  • boat building

There were also multiple vendors showing Scouts and leaders, as well as those in the public that might be interested.

The kids were running around and checking out all of the cool things to do, and Scout leaders were looking for ideas for next year’s event.

Events like this are happening all over Gwinnett County most weekends thro0ughout the year.  Not specifically Scouting, but events that might be interesting to you or your kids.  Model train shows, car shows, equestrian events and more.  I try to mention the ones that I am aware of… especially the ones that I get to visit with my family.  Take a look around… the worst that could happen is meetng a new friend that shares your hobbies or interests.

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