5 Bed / 6 Bath Home in The River Club

4834 Elkhorn Hill Drive

Suwanee, GA 30024

$3950000
Welcome Home to your Elegant Rustic Style Lodge with unique custom finishes and high quality Craftsmanship throughout the home. A splendid setting where elegance meets nature. This 5BD/6.3 BA home (2 of the BD's are master Suites)has private view of the Greg Norman Golf Course, a pond and mature woods. Backyard features pool w/hot tub,waterfall and Firepit for your everyday enjoyment. 2 Cooks kitchens, 6 FP's,Spa area on terrace level w/Sauna,Steam shower,massage room, work out room & Aerobic room.3 Laundry rooms, Elevator, Wide plank hand scraped walnut floors.

Summary

MLS #5650314
Price3950000
Bedrooms5
Bathrooms (Full)6
Square Footage10185
Square Footage SourceTax Record
StatusActive

Features

7 Bed / 7 Bath Home in THE RIVER CLUB

4745 Cuyahoga Cove

Suwanee, GA 30024

$3790000
ONE OF THE MOST IMPRESSIVE FRENCH PROVINCIAL ESTATES TO REACH MARKET IN N. ATLANTA, BOASTING UNPRECEDENTED DETAIL & ARCHITECTURAL CUSTOM CRAFTSMANSHIP.... SITTING ON A LEVEL CUL-DE-SAC LOT YET PERCHED TALL ABOVE THE GREG NORMAL GOLF COURSE, WITH PANORAMIC VIEWS AND 380 FT OF LAKE FRONTAGE, THIS HOME TOOK ALMOST $1 MILLION IN HAND-CUT TENNESSEE STONEWORK ALONE. ENJOY WIDE-PLANK HEART OF PINE FLOORING, LARGE AND ENTERTAINING OPEN FLOOR PLAN. ABSOLUTELY STUNNING GOURMET CHEF'S KITCHEN WITH DOUBLE SUB ZEROS- AND VIRTUALLY EVERY CONCEIVABLE OPTION. 4 FIREPLACES. 5-CAR

Summary

MLS #5718436
Price3790000
Bedrooms7
Bathrooms (Full)7
Square Footage11738
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

4914 Kettle River Point

Suwanee, GA 30024

$2599000
Welcome home to this Impeccable Family Retreat - you'll never have to go on vacation again! Stunning brick & stone estate situated on almost an acre of pure luxury overlooking the 4th hole. No detail has been spared inside and out with superb craftmanship on all 3 levels. Perfect home for entertaining or everyday family living. Outdoor amenities are unparalleled w/ pool, hot tub, firepit, putting green, poolside cabana w/ swim up bar. Elan system for whole house entertainment w/ control 4 for media. Master on main with Jr masters on the upper and terrace floors.

Summary

MLS #5664792
Price2599000
Bedrooms6
Bathrooms (Full)6
Square Footage10597
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

4695 Whitestone Way

Suwanee, GA 30024

$2599000
Custom Home in The River Club. 6 Bedroom 6.5 Ba on double lot backing golf course. 1st floor features large 2 story foyer overlooking LR with handsome study and large entertaining DR. Gourmet kitchen overlooks oversized Family Room and covered porch. Master on main and 2nd bedroom on main. Upstairs features 3 bedrooms all with private baths and large dressing area. Terrace level features bedroom and bath, Bar area, game room and theatre.

Summary

MLS #5751567
Price2599000
Bedrooms6
Bathrooms (Full)6
Square Footage8412
Square Footage SourceAppraisal
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

4605 Whitestone Way

Suwanee, GA 30024

$2500000
Exquisite estate home with the finest attention to detail throughout. Overlooking 4th green, home features marble inlayed foyer, Liv Rm, Office w/FP, opulent Great Rm w/FP, state of the art Kitchen, Stunning Keeping Rm w/beamed ceiling & FP, Romantic Master on main, elevator, World class terrace Lvl w/Rec Rm w/FP, Bar, Billiards Rm w/FP, Humidor, Home Theater(all equipment stays!), 2nd master suite & most beautiful finish work in the River Club. Pool & spa w/stone surround, stunning outdoor living areas. WOW!

Summary

MLS #5722910
Price2500000
Bedrooms6
Bathrooms (Full)6
Square Footage9476
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

869 Big Horn Hollow

Suwanee, GA 30024

$2450000
Welcome home...you've earned this! Enter an innovative floor plan built for entertaining & family enjoyment. Delight in vaulted wood beamed ceilings throughout, wood, brick & travertine floors, wide baseboards, stained doors throughout. The chef of the family will revel in the showcase kitchen of granite and brick. Master on main, separate his & hers baths/closets with car wash shower for both to enjoy. Terrace level is filled with customized features including media room with built in show cases for memorabilia, bar, wine cellar, game room, cozy rec room with fireplace

Summary

MLS #5713023
Price2450000
Bedrooms6
Bathrooms (Full)6
Square Footage9663
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

912 Little Darby Lane

Suwanee, GA 30024

$2099000
Old world European inspired master piece, indescribable detail thruout,in private setting, 2 story grand foyer w/spiral staircase, pecky cypress paneled study, gourmet kitchen views to fireside keep rm ,Private master suite on main level w/spa like master bath, his/hers closets w/custom built-ins, whole house audio system ,cover porch w/outdoor fireplace/Terrace level features: Pub style bar,w/1800 bottle wine cellar, theater seats 8 features concession stand, billiard rm,card rm,spa rm w/sauna, salt water pool & spa w/cascading waterfalls & outdoor fire pit.

Summary

MLS #5693604
Price2099000
Bedrooms6
Bathrooms (Full)6
Square Footage9755
Square Footage SourceBuilder
StatusActive

Features

6 Bed / 5 Bath Home in The River Club

962 Little Darby Lane

Suwanee, GA 30024

$1849999
Exquisite details with superb finishing mark this amazing River Club home! Formal DR w pecky cypress walls, rustic aged exposed beams, handkerchief ceiling in foyer w built in bookcases. Kitchen built for 2 chefs w island feat all Viking appl & custom inlay cabinetry. Owners suite on main. Barn door leads to pool bath, mud rm w laundry & hammered copper sink. Junior master w spa bath. Finished terrace level& outdoor living at its finest. Complete w private 1 Bdrm Guest House w kitchenette & screened porch overlooking saltwater pool w spa.

Summary

MLS #5645985
Price1849999
Bedrooms6
Bathrooms (Full)5
Square Footage7603
Square Footage SourceBuilder
StatusActive

Features

5 Bed / 5 Bath Home in The River Club

878 Crescent River Pass

Suwanee, GA 30024

$1799999
Stunning Brick & Stone Manor home w good golf course views. Outdoor living rooms on multi levels w fireplace overlooking pool & waterfall spa. Chefs kitchen w mixed woods. Working island w veggie sink, warming drawer, Wolf gas coooktop, dual dishwashers, subzero and wine chiller. Main floor boasts study w fireplace, living room w fireplace & stone walls, formal dining room, & owners suite on main. 3 generous ensuite bedrooms upstairs. Terrace level finished w media, billiards area, custom bar, wine, office, & guest bedroom w full bath.

Summary

MLS #5758623
Price1799999
Bedrooms5
Bathrooms (Full)5
Square Footage7316
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 5 Bath Home in The River Club

5212 Boulder Bluff Way

Suwanee, GA 30024

$1789900
A cul-de-sac lot, this 6 bed home offers an abundance of outdoor living spaces,spa pool & fire pit backing up to natural woods. Foyer flanked w/a large DR & study.The kitchen has it all: island w/serving bar,walk-in pantry & counter space for the home chef.The vaulted kitchen-family room is accented w/ truss beams. Main floor master has spacious his/her walk in closets. A finished terrace w/ theater, family/billiards & game rooms,full kitchen, weight room, guest suite & BA completes this home.

Summary

MLS #5687744
Price1789900
Bedrooms6
Bathrooms (Full)5
Square Footage7553
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in None

2915 Southers Circle

Suwanee, GA 30024

$1680000
Peaceful estate with all the amenities-an entertainer's delight! Enter through the iron gate & follow the drive through the trees to your new dream home. A must see with no detail forgotten! Gorgeous Chef's kitchen open to keeping room & breakfast area. Master on main. Finished basement w/full kitchen, custom walnut bar, theater room & more. Saltwater pool/spa with auto cover & outdoor fireplace. HUGE shop w/14' RV door & second 12' door, foam insulation, wired 220 w/gas lines run. Enjoy the convenience of the Chattahoochee Recreation Area out your back door.

Summary

MLS #5740199
Price1680000
Bedrooms6
Bathrooms (Full)6
Square Footage5385
Square Footage SourceAppraisal
StatusActive

Features

4 Bed / 4 Bath Home in The River Club

4870 Hanalei Hollow

Suwanee, GA 30024

$1599990
Home must be sold with a 18-24 month lease back. Fabulous Arthur Rutenberg Custom Home siutated in the River Valley at The River Club. This stunning home features an open floor plan for entertaining, gourmet chef's kitchen and owners suite on the main floor. Upstairs are 3 additional on suite bedrooms and a bonus room. Home has amazing view of 16th fairway and is walking distance to the club. This home is sold furnished.

Summary

MLS #5765916
Price1599990
Bedrooms4
Bathrooms (Full)4
Square Footage4333
Square Footage SourceBuilder
StatusActive

Features

6 Bed / 6 Bath Home in THE RIVER CLUB

4732 Blackwater Way

Suwanee, GA 30024

$1599900
Sitting beautifully on the 6th hole, this home has all the extensive trim/finishes any discriminating buyer will appreciate! Filled w natural light w features to include solid teak flooring, true hand crafted masonry frpl, planked walls in FR, waterworks faucets throughout, custom interior trim & built ins, calcutta gold marble counter tops, & custom hardware. Home is accented w hand baked brick, stone foundation & slate roof for welcoming appeal. Owner suite up w frpl & bath w waterworks tub, steam shower & bidet. Terr lvl w kitchen/bar & bath. 4 car garage too!

Summary

MLS #5566477
Price1599900
Bedrooms6
Bathrooms (Full)6
Square Footage7800
Square Footage SourceTax Record
StatusActive

Features

7 Bed / 8 Bath Home in Belmore Estates

4994 Price Drive

Suwanee, GA 30024

$1599000
Stunning brick & stone estate on over 1 acre in private gated community. Resort style pool featuring waterfall,slide,hot tub, & fire pit plus covered porch w fireplace.4car garage, 8 fireplaces, 3 laundry rooms. Huge owner's suite w private balcony, spacious secondary bedrooms & lofts. Gourmet kitchen well-equipped w high-end appliances opens to spacious keeping room & breakfast room overlooking pool.Terrace level has 2nd kitchen/bar, theater, fitness, steam sauna, game room, den, & guest suite. MANY details and UPGRADES! Luxurious Lifestyle!

Summary

MLS #5765505
Price1599000
Bedrooms7
Bathrooms (Full)8
Square Footage11592
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

4505 Whitestone Way

Suwanee, GA 30024

$1550000
Tuscan columns and a wrought iron railing greet you at the covered porch of this brick & stone estate, inviting you to step inside. The gracious interior includes 12' ceilings, panelled study, sunny solarium with brick walls & soaring arched windows, a chef's dream kitchen w/ honed granite counter tops, soapstone apron sink, top of the line appliances. Tremendous entertaining space with covered outdoor living space including an outdoor dining porch. Guest suite on main lined by leaded glass windows w/ access to the covered porch.

Summary

MLS #5634131
Price1550000
Bedrooms6
Bathrooms (Full)6
Square Footage8187
Square Footage SourceAppraisal
StatusActive

Features

4 Bed / 5 Bath Home in The River Club

878 Big Horn Hollow

Suwanee, GA 30024

$1499999
Superb craftsmanship reflect in the River Club brick/stone home. Welcoming foyer feat inlaid floors & flanked by gentleman's Study w custom builtins & formal DR. Natural light fills the GR w fireplace & wet bar. Gourmet Kit feat dual Dishwashers, Subzero, Thermador 6 burner cooktop & dual convection ovens, large island & 2 pantries! Main level owner ste w sitting area & spa bath. Stained Canadian Maple hardwood flooring, 2 ensuite bdrms up & junior owner ste w jetted tub & dual vanities. Fin terr includes billiards/game room & gym w rubber flooring w full bath.

Summary

MLS #5758524
Price1499999
Bedrooms4
Bathrooms (Full)5
Square Footage7133
Square Footage SourceAppraisal
StatusActive

Features

5 Bed / 5 Bath Home in The River Club

932 Chattooga Trace

Suwanee, GA 30024

$1490000
Modern Day CHIC nestled in the ultra exclusive River Club. Every detail was carefully selected and quality crafted; Reclaimed wood beams & finishes, shiplap & birch walls, Luster Stone walls & ceilings, rich moldings. Master suite on main offers serenity & privacy. Open 2 story family room w/ stone fireplace & T&G ceiling adjacent to the modern renovated chef's kitchen. Enjoy alfresco dining on the covered porch or enjoy smores by the fire on the amazing renovated Trex deck that overlooks the pristine gardens. Full daylight terrace level awaits your finishes.

Summary

MLS #5760185
Price1490000
Bedrooms5
Bathrooms (Full)5
Square Footage5780
Square Footage SourceAppraisal
StatusActive

Features

5 Bed / 5 Bath Home in The River Club

5108 Coosa Court

Suwanee, GA 30024

$1475000
Located in a Private setting,home has been meticulously maintained paneled study, gourmet kitchen views to fireside vaulted keep rm,hardwood flooring throughout,master suite on main level w/spa like master bath, his/hers closets w/custom built-ins,second master suite upstairs,large secondary bedrooms w/private baths & great closet space,laundry on main & upstairs cover screen porch w/outdoor fireplace amazing backyard w/stone paver patio that views cascading waterfall & outdoor fire pit.Home backs up to nature preserve,prefect lot for pool walk out from your main floor

Summary

MLS #5765721
Price1475000
Bedrooms5
Bathrooms (Full)5
Square Footage6603
Square Footage SourceTax Record
StatusActive

Features

5 Bed / 4 Bath Home in The River Club

4971 Roaring Fork Pass

Suwanee, GA 30024

$1444800
Stunning J. Patrick O'Donnell brick & stone masterpiece brimming with character in The River Club. Situated on wide lot with preserved forest area, this 5BR, 4 and 2 half BA home is loaded with high-end features, including custom closet system in elegant master retreat on main. Chef's kitchen with pot filler, beverage refrigerator, warming drawer, farm sink, sliding barn door and Wolf range opens up to vaulted, beamed ceilings in family room and screened porch with fireplace. Perfect for entertaining! Full daylight lower level is framed, roughed in for lg in-law suite.

Summary

MLS #5706779
Price1444800
Bedrooms5
Bathrooms (Full)4
Square Footage5000
Square Footage SourceBuilder
StatusActive

Features

5 Bed / 5 Bath Home in The River Club

5192 Boulder Bluff Way

Suwanee, GA 30024

$1425000
Fabulous build opportunity with builder Pat O'Donnell. Lot is nestled in quiet cul de sac close to The River Club amenity area. 5 bed/5.1 bath home. Master suite on main with spa like bath and his/her closet. Formal dining room/study, gourmet cook's kitchen over looking the great room and outside covered veranda with fireplace. Four additional bdrms upstairs all with private baths. Live in a community that meets expectations.

Summary

MLS #5741679
Price1425000
Bedrooms5
Bathrooms (Full)5
Square Footage4571
Square Footage SourceBuilder
StatusActive

Features

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Category Archives: real estate

Atlas Chalet Shingles?

chalet roof400

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.

chalet roof400If 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…

Check out the New Walk Score feature

DSCN3060

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

What About New Construction…

300px-Wrought-iron-fencing

Over the last few days, I decided to drop into a couple of North Gwinnett County’s newest subdivisions.  I wanted to get a feel for how sales have been going.

The first subdivision has been in pre-sale since December.  They really didn’t start pushing sales until early January, though.  I saw about 87 lots, with 17 of them marked as sold.  Their Model Home is up and ready to run (I was pressed for time, so I didn’t stop to see if it was actually open).  There were homes being built on at least half a dozen lots.  Most of those were pre-sold, but there were a couple of that might have been spec homes (homes the builder was ordering so that there would be some standing inventory for buyers not wanting to wait on construction).

December 31, 1958

The other subdivision was a completely different story.  Out of 51 lots, 26 of them were marked sold.  The first home has yet to be completed.  There is no onsite sales center.  There are a few foundations going in and one home (presumably the sales center) is nearing completion, but probably a few weeks away from operational.

In the case of the first neighborhood, having around 20% of the lots pre-sold is fantastic.  Before the boom that would have been a tough feat.  During the crash, it was obviously impossible.  But to have over 50% of the lots sold before even having a sales center on-site is incredible.

If you are looking in the North Gwinnett area… especially in the North Gwinnett High School cluster, you need to give me a call.  There is some great builder activity as well as some really nice resale homes on the market.  There are a few standing inventory new homes to be found as well.  But things are picking up… that means rising prices and fewer choices.

I’m working at finding some new resales to get on the market as well.  If you have a home you are thinking about selling, please give me a call.  I can’t seem to keep my listings on the market long enough…

Ruby Forest Snapshot June, 2014

Ruby Forest Price Trend 6-11-14

Ruby Forest is starting to pick up some traction, but there are some sellers that are going to let their best chance for a sale pass them by, while there is an opportunity for those that are motivated.

By looking at two different sets of numbers, I see a disparate picture.

On the one hand are the historic sales figures.  As noted in the chart to the right, the “sweet spot” seems to be just under $240k.  A year ago, we were dealing with huge inventory shortages and it was possible to draw offers that were on the high side… buyers were motivated by the lack of choices.  But now we have more inventory available on the market (there are 7 active homes in Ruby Forest now vs. just 1 or 2 this time last year).

Ruby Forest Price Trend 6-11-14On the other hand, looking at the currently available listings I see a much different picture.  The lowest price property just dropped its price to $244,000.  The median price is $284,900 and the average is $283,800.

Over the last year, close to 70% of the homes successfully sold in Ruby Forest have sold in the first 30 days, averaging 98%  of their list price.  When we look at the homes selling between 31 and 60 days after being listed, that drops to just 90% of that original list price.  From there is goes down further as the period gets longer…

As a professional Realtor®, this tells me a couple of things…

  • Sellers feel that they still have all of the cards that they had a year ago.  Unfortunately, this isn’t the case.  Inventories are up, and now we are seeing new construction in the immediate area.
  • Sellers need to compete for buyers… buyers don’t need to compete as much for sellers.
  • Homes that are on the market for more than a month or two are getting “stale” and the prices sink further than if they had been priced competitively to start with.

There is another red flag that I see that could get tossed into the field…  appraisals.

Appraisers base their numbers on sales in the last 6-12 months.  The prices that I see may not be as supportable as the sellers and agents expect.  Keep in mind that I’m not an appraiser and I haven’t broken each of these homes out to compare it to the sold comps.  They might be able to make it through appraisal, but they also might not.

Statistically, ALL of these homes are priced well above average.  Yet, statistically, half of these homes are NOT above average is size/features/amenities.  We DO need to look outside Ruby Forest in other subdivisions that are districted to Roberts Elementary to have a perfect picture, but there is enough activity in Ruby Forest to have a good idea of how things could go.

And this is where the red flag gets tossed…  Let’s assume that one of these houses were to get an offer and go under contract near the asking price.  If there were a problem at the appraisal stage, the sellers could see their expected price evaporate.

What is the Good News

For a motivated seller, there is abundant opportunity.  There IS buyer activity and interest in Ruby Forest.  A home coming on the market in the sweet spot would have a solid chance of selling in the next 45-75 days (15-30 days to contract and 30-45 days to closing).  Selling with a reasonably aggressive price, comparatively, would mean that the contract would likely happen faster and instead of working on keeping the home in “showing shape” for months on end, you could concentrate on getting packed up for your move.

A year ago we were in a classic “Seller’s Market”.  Now we are in much more of a “Balanced Market”.  Actually, in the long run, this is much easier to deal with.  Most sellers are moving to another home, and the balanced market allows for a smoother flow from one to the other.  In a Seller’s Market, the sellers make out great on the sale of their home, but get their added equity wiped out while negotiating for their new home.  In a Buyer’s Market, the sellers get smacked around on the front end, but might get to make it up on the subsequent purchase.

 

If you are ready to talk about listing your home, give me a call…

Lane Bailey

678-two zero zero-5895

Buford, GA, Market Report, October 2013

Market stats for Buford, GA, October, 2013 indicate that there were 325 properties on the market, a decrease of 9 from last month. Overall, there was about an 4.1 month supply of properties (Absorption Rate or A/R). There were 69 sales for October, down from 81 last month and down from the 76 sales Oct12. It isn’t the strongest market in Gwinnett, but the A/R is nothing to sneeze at. It is still in Seller’s Market territory.

DSCN0574

DSCN0574 (Photo credit: lane.bailey)

In the sub-$200k arena, there were 106 listings, with a 2.5 month supply. This was the largest price segment in this market area, so strength here usually equaled strength across the whole local market area. Sales were down from last month 38 (v 42 last month), and down compared to last year (58 sales in Oct12). But, the A/R is well under the 6 months that would be considered fairly balanced… pointing towards a solid seller’s market. This time of year we are usually seeing a decrease is sales… and listings.

Between $200k and $400k, there were 156 listings for sale, and about 5.3 months of supply. The 25 sales recorded were down from the 34 last month and way up from the 14 sales last year for October. This had been one of the weaker segments in the county, but had improved dramatically until a few months ago it was fairly balanced, though tilted towards buyers… now it is a little less into Seller’s Market territory.

From $400k to $600k, there were 43 homes on the market. The absorption rate is 8.6 Months. There have been 15 sales in the last 3 months (7 in August, 5 in September and 3 in October). When the market is rolling, there should be 4-5 sales a month during this part of the year. Just for comparison, there were 7 sales in the Aug-Oct period in 2012. This segment has been bouncing all over the place, though… (as a note, the A/R was 17.25 three months ago).

In the $600k to $800k arena, there were 8 listings. Absorption Rate is 12 months… but it jumps around a lot. 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 to 8 had made things look less slow… but they are back on the rise. There was 0 sales in October last year and 0 in September this year. There were 2 sales in October this year.

The range from $800k to $1m, there were 4 homes listed. Trends are hardly definable. Listings are down. February was the last previously recorded sale. There was 1 sale in October. So it now has a 12.0 month Absorption Rate. (the decrease in listings is what dropped the A/R)

Above $1m, there were 9 properties listed. There was sale in the segment in April… of 2009…and then May, 2011… and 2 sales in June, 2011… also 1 in July and September, 2012. There was 1 sale in August. So, we have 27 months of inventory. I am hoping, but am not expecting, sales to be more consistent.

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 opened for the 2010-11 school year).

I have a page dedicated to Buford Market Data.

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