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Category Archives: sugar hill

Sugar Hill, GA, Market Report, February 2011

Thursday, 31 March 2011 08:39
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DSCN0565

Image by lane.bailey via Flickr

Market stats for Sugar Hill, GA , February, 2011 indicate that there are 231 properties on the market. Overall, there is about an 12.6 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.

For Sugar Hill homes priced under $200k, there are 170 listings, with under 10 months supply.  There were 14 sales this February and 14 last year for the same time.  And December had a nice bump in sales, at 25 homes (just 8 in 2009).  That really cranks the 3 month numbers to look better than they really may be.

Sugar Hill Listings between $200k and $400k, there are 52 listings for sale, and about 22.3 months of supply.  As recently as May, there was only a 6.75 month supply.  This segment really took a beating.  It had a slight bump in November, but drove off a cliff in December.  There were only 3 sales v 11 the prior year.  January pulled out 3 more sales, which isn’t terrible compared to 5 last year.  February only had 1 sales 3 in Feb 2010, but the decrease in listings was why this segment looks stronger.  That decrease has started to slow and the weakness shows.

For listings in the $400k to $600k range, there are 5 homes on the market. The absorption rate is around 30 months, but with 1 sale 6 months ago, it is tough to calculate accurately.  Obviously, a sale or two could make a BIG difference.  There have only been 3 sales in this segment last year.  In 2009, there were almost twice as many sales in this price range.

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 4 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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Sugar Hill, GA, Market Report, January 2011

Thursday, 10 March 2011 08:25
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DSCN0571

Image by lane.bailey via Flickr

Market stats for Sugar Hill, GA , December, 2010 indicate that there are 232 properties on the market. Overall, there is about an 12.7 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.

for Sugar Hill homes priced under $200k, there are 169 listings, with under 10.8 months supply.  There were 12 sales this January, versus 11 last year for the same time.  And December had a nice bump in sales, at 25 homes.  That really cranks the 3 month numbers to look better than they really may be.

Sugar Hill Listings between $200k and $400k, there are 53 listings for sale, and about 14.5 months of supply.  As recently as May, there was only a 6.75 month supply.  This segment really took a beating.  It had a slight bump in November, but drove off a cliff in December.  There were only 3 sales v 11 last year.  January pulled out 3 more sales, which isn’t terrible compared to 5 last year, but the decrease in listings is why this segment looks stronger.

For listings in the $400k to $600k range, there are 6 homes on the market. The absorption rate is around 36 months, but with 1 sale in the last 6 months, it is tough to calculate accurately.  Obviously, a sale or two could make a BIG difference.  There have only been 3 sales in this segment last year.  In 2009, there were almost twice as many sales in this price range.

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 4 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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Local? Hyper-Local? National? What IS the Market?

Thursday, 10 February 2011 08:20
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old photo of peachtree street, atlanta, GA

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I love watching the news… but when they talk about the real estate market, I cringe.  I like to hear the national numbers, but I also know that they are just a framework for a smaller discussion.  Yep… a smaller discussion.

It matters what the overall market is doing, but it’s not nearly as important as what is happening in your neighborhood.  It matters what is happening in Georgia, and the Atlanta Metro market, but not nearly as much as what is happening in your specific city.  Real estate prices and demand react to specific local issues much more than to national trends.  In fact, the national trend is just a compilation of local and hyper-local trends.  What the national market does is create a headwind or a tailwind.  That’s about it.

Here locally, we look at things like…

  • changing employment statistics
  • companies relocating into or out of the area
  • school performance and trends
  • tax burdens
  • quality of local governmental services
  • proximity to recreation and entertainment
  • ease of movement (commuting, shopping, etc)

As we see these things change, we see the market move in one direction or another.  A prime example at the moment is the City of Atlanta schools issue.  It is possible that the Atlanta City Schools could lose their accreditation.  If that were to happen, it would drive down the price of most of the homes served by those schools.  The price would be driven down because there would be a lack of demand on the part of buyers, combined with an increase in supply as sellers seek to move to districts without the same problems.

Gwinnett County has one of the lowest unemployment rates in Georgia, below the national average.  But there is also a tremendous overhead of foreclosure action.  We also have one of the highest performance school systems in the region… and reasonably low tax rates.

The market in Miami or Las Vegas doesn’t have an effect on what is happening in Georiga, much less what is going on with real estate in Gwinnett County.

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Gwinnett Homestretch Program

Thursday, 03 February 2011 08:05
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Ken Cook and I are working with Gwinnett Homstretch Down Payment Assistance.  As a buyer, you need to have $1000 going into the purchase, but Gwinnett Homestretch may contribute up to $7,500, if you qualify.  There are a few things to keep in mind:

  • It is paid as a 0% loan, which will be forgiven after 5 years of using the property as your principal residence.  In effect, that makes it a grant… there are no payments due during the 5 years.
  • You will be required to complete an 8-hour counseling class from a HUD approved Housing Counseling Agency.
  • Total household income must not exceed HUD lmits, based on household size.  Households range from 1-8 people.
    • 2 people – HUD max is $46,000
    • 4 people – HUD max is $57,450
    • There are different income maximums for other household sizes.
  • Investors are NOT eligible for this program.
  • The home MUST pass an inspection by Gwinnett County PRIOR to closing.
  • Purchase Price may NOT exceed $200,000.

There are other requirements, such as being able to qualify for a mortgage.  Contact Ken and I for details.

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We’d love to help you buy a home. There are great deals on the market right now, and interest rates are exceptional.

For more info, click here.  There are other Down Payment Assistance programs available around the Metro Atlanta area.

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Sugar Hill, GA, Market Report, December 2010

Monday, 24 January 2011 08:24
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Gwinnett County Historic Courthouse, Lawrencev...
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Market stats for Sugar Hill, GA , December, 2010 indicate that there are 241 properties on the market. Overall, there is about an 12.7 month supply of properties.  Sales have been fairly steady since July, but inventories have been rising, and along with it, the number of months of inventory (that is the wrong way…)

for Sugar Hill homes priced under $200k, there are 168 listings, with under 9.7 months supply.  Sales are also about 3x of the level last year, 25 v 8 last December.  But, for the last three months, that only puts sales up by 3 v last year.  And this segment is doing WAY better than the next one up.

Sugar Hill Listings between $200k and $400k, there are 63 listings for sale, and about 17.2 months of supply.  As recently as May, there was only a 6.75 month supply.  This segment really took a beating.  It had a slight bump in November, but drove off a cliff in December.  There were only 3 sales v 11 last year.  In fact, for the last three months, there were only 11 sales v 27 last year.

For listings in the $400k to $600k range, there are 6 homes on the market. The absorption rate is around 36 months, but with 1 sale in the last 6 months, it is tough to calculate accurately.  Obviously, a sale or two could make a BIG difference.  There have only been 3 sales in this segment this year.  Last year there were almost twice as many sales in this price range.

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 4 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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