Not Found news | Garage with a Detached Home | Gwinnett County GA

LaneBailey.com

Garage with a Detached Home

Contact Lane

  • Custom Listings

    Sign up to get notified when new listingscome on the market that meet your specs.

    Read More

  • What's YOUR Home Worth?

    Get a free Maximum Price Analysis to find out the current market value of your home.

    Read More

  • Browse Listings

    Take a look at what is currently on the market in the areas that interest you.

    Read More
  • 1

Follow Me on Pinterest

Category Archives: news

Wayback Wednesday… A DNS

Wednesday, 20 October 2010 08:34
Written by
0 Comments
The Burled Arch in Nome, Alaska, the finish li...
Image via Wikipedia

In racing, a DNS means that a car Did Not Start.  One could say that it is even worse than the dreaded DNF (Did Not Finish).  Not making it to the Starting Line is definitely worse than not making it to the Finish Line.

But for Housing Starts, it is a good thing…  at least it is here and now.

Two years ago I wrote a post about how Housing Starts had fallen to their lowest level in 17 years.  Now, we are close to the lowest recorded levels.

But there is still too much inventory.  I know, looking at the listings numbers, we are WAY down from where we were a few years ago.  In the Atlanta area we are below 70,000 listings.  A couple of years ago, we were over 120,000 listings.  But, sales have continued to slow.

The statistics look better, and frankly, we need to NOT compare sales data to the period from about 2004-2007… it wasn’t sustainable.  But we need to get the stats up from where we are.

The first step is to deal with excess inventory.  And just like the first step to getting out of the hole is to stop digging; if there are too many houses, building more doesn’t help.

Link to original post from 2008.

Enhanced by Zemanta

Gwinnett County Schools Get $1M Scholarship

Tuesday, 19 October 2010 18:09
Written by
0 Comments
DSCN2953
Image by lane.bailey via Flickr

It was announced today that the Gwinnett County Public School system was awarded a $1,000,000 scholarship grant from the Eli and Edythe Broad Foundation.  The $1,000,000 will go out as scholarships to needy students within the district.

Gwinnett took the top honors because of their high standards of performance for students regardless of race.  They beat out Charlotte-Mecklenburg Schools in North Carolina, Montgomery County Public Schools in Maryland, and Socorro Independent School District and Ysleta Independent School District in El Paso, Texas, for the award.  The award is for districts that show the most gains in student performance and closing minority achievement gaps.

Something else that should be kept in mind is that the GCPS has done this on a budget that is quite austere compared to some other local districts, such as the City of Atlanta Schools.  GCPS spends under $9,000/student, yet achieves better results than the City of Atlanta, which spends over $12,000/student.

Another feat that GCPS should be proud of is that they have achieved a high school graduation rate of 84 percent and 90 percent of those graduates go on to college or other post-secondary training.

I’m not a huge fan of public education (I’d like to see vouchers), but it is obvious that the Gwinnett County Public School system is doing some things correctly… and that they would be able to compete if there were vouchers in the district.  In fact, I think that many parents in adjoining districts would try to get their children into GCPS if they had the opportunity.

And don’t forget that Lilburn, GA is home to two of the best performing groups of schools in the Gwinnett system, Parkview and Brookwood.  I happen to know of a few homes for sale in the area…  ;^ )

Related articles
Enhanced by Zemanta

Norcross, GA, Market Report, August 2010

Monday, 11 October 2010 08:36
Written by
0 Comments
Norcross shopping district and downtown
Image via Wikipedia

Norcross, GA is a suburb of Atlanta in Gwinnett County. The population is 2000 was 8,41, but that only included the area inside the city limits, and it has seen tremendous growth since that census. The City of Norcross revamped their old town a long time ago, and it has served as a model for other towns in the area. It is also home to Meadow Creek and Norcross High Schools. One of the things that Norcross is known for locally is the beautiful older homes in the downtown area. They have maintained their historic flair quite successfully.

Market stats for Norcross, August, 2010 indicate that there were 386 properties on the market. Overall, there is about a 7.5 month supply of properties. August sales were actually v 2009, but July was way down (June was up slightly).  Overall, the market isn’t terrible here, looking back.
In the sub-$200k arena, there were 208 listings, with about 5.9 month supply.  Sales are up from a year ago in this segment, which is the main driver of sales in this area.  And the segment is looking pretty strong, despite the weakness in July.

Between $200k and $400k, there were 131 listings for sale, and about 10.6 months of supply.  Sales have been down and slowing for the last two months.  I think we are going to see growing absorption rates for September, as well.

From $400k to $600k, there were 38 homes on the market. The absorption rate is around 12.7 months.  Sales have actually been strengthening since March (with a few ups and downs…), but much of the perception is from shrinking inventories.  Actual sales have been decelerating.  I expect to see the numbers move the other way in the next few months.

In the $600k to $800k arena, there were 5 listings on the market.  Inventories have decreased as sales have increased compared to last year.  The absorption rate (three month average) is steady at 5 months of inventory… which is amazingly strong… but with only 4 sales this year, obviously it is easy to bump one way or the other.

The range from $800k to $1m, there were 1 homes listed on the market and no sales… seemingly forever.

Above $1m, there were 3 properties listed.  But because of the smaller numbers of sales, the absorption rate could be significantly impacted by just a couple of sales.  There have been two sales in the last year (Nov 09 and Apr 10).


I have a page dedicated to Norcross Market Data.

Related articles
Enhanced by Zemanta

Buford, GA, Market Report, August 2010

Saturday, 09 October 2010 08:51
Written by
0 Comments
DSCN0583
Image by lane.bailey via Flickr

Buford, GA is a suburb of Atlanta in Gwinnett and Hall Counties. The population is 2000 was 10,668, but that only included the area inside the city limits, and it had seen tremendous growth since that census.  Buford is home to Lake Lanier, one of Georgia’s premiere recreational areas, and Lake Lanier Islands.  Recently, the City of Buford has revamped their old town. It is also home to Buford (Buford City Schools aren’t a part of Gwinnett County Schools), Mill Creek, Mountain View and Lanier High School (Lanier will open for the 2010-11 school year).

Market stats for Buford, GA, August, 2010 indicate that there were 653 properties on the market. Overall, there was about an 12.3 month supply of properties.  Sales were down radically in July (19 v 71 for 2009), but August was back in the realm (57 v 61 for 2009).  But the magic has been a little underwhelming since June.

In the sub-$200k arena, there were 323 listings, with a 10.2 month supply.  Sales for July were down by 70%.  There was actually one extra sale for August.  May was the best absorption rate of the year, and it has been going downhill ever since.

Between $200k and $400k, there were 250 listings for sale, and about  13.4 months of supply.  Again, July was the dog, with sales down by 75%.  August was also slightly down.  This is one of the weakest segments in the county (excluding the very high end of the market…).

From $400k to $600k, there were 49 homes on the market. The absorption rate is around 21 months.  This shouldn’t be acting like a high-end luxury segment, but it is.  There have been 7 sales in the last 3 months.  When the market is rolling, there should be 5-7 sales a month during this part of the year.

In the $600k to $800k arena, there were 11 listings.  Sales in this range are pretty sporadic, but steady when looking at the long-term.  The drop in inventory over the last few months from 14 homes to11 homes have made things look less slow… but there has been 1 sale in this segment since November.

The range from $800k to $1m, there were 6 homes listed. And with only 2 sales in the last year (Nov. 09 and Feb 10), obviously  trends are hardly definable.

Above $1m, there were 14 properties listed.  The last sale in the segment was in April… of 2009.

I have a page dedicated to Buford Market Data.

Related articles
Enhanced by Zemanta

Sugar Hill, GA, Market Report, August 2010

Friday, 08 October 2010 08:39
Written by
0 Comments
This map shows the incorporated and unincorpor...
Image via Wikipedia

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.

Market stats for Sugar Hill, GA , March, 2010 indicate that there are 228 properties on the market. Overall, there is about an 9.7 month supply of properties, with sales dropping precipitously since June (31 in June, 15 in August).  Meanwhile, inventories are on the way up.

In the sub-$200k arena, there are 150 listings, with under 9.6 months supply.  Sales are also about half of what they were in June, and only ¾ of the level last August.

Between $200k and $400k, there are 69 listings for sale, and about 11.5 months of supply.  As recently as May, there was only a 6.75 month supply.  Sales are only 30% of the May level, and inventories are up slightly.

From $400k to $600k, there are 3 homes on the market. The absorption rate is around 8 months, but with no sales in the last 3 months, it is tough to calculate accurately.  Obviously, a sale or two could make a BIG difference.  There have only been 2 sales in this segment this year.

Above $600k, the sales are too inconsistent to have a solid read on, but there are only 6 homes listed for sale in that price range.  No sales have been recorded in the last 17 months or so.


I have a page dedicated to Sugar Hill Market Data.

Related articles by Zemanta
Enhanced by Zemanta
Copyright © 2009 - 2019 Garage with a Detached Home | Gwinnett County GA. All Rights Reserved. Created by Blog Copyright.