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Tag Archives: business of real estate

Enter Realtor.com… New Android App

Monday, 08 November 2010 08:32
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Realtor.com has introduced their new Android App for Google Andriod based mobile phones like the T-Mobile G2, Sprint EVO, Verizon Droid X and AT&T Captivate.

I have to say, it is pretty cool.  It is ‘location aware’, so it can search for listings and open houses that are nearby.  It can also do a host of other things, such as filtering listings by price, amenities, size, bedrooms/bathrooms, etc.  It can also share listings with family and friends… and it syncs to your Realtor.com account so that you can share listings and notes between your computer and phone.

QR code for Realtor.com Android app

Scan this with your Android phone

The Android App also does a few things that are unique to it… such as viewing the listing and its surroundings on Google Street View and save voice memos.  You can also ‘dictate’ an email to your agent, and notes right on the listing page.

Android is the up and coming platform for mobile phones.  It is the fastest growing platform, and is nipping at the heels of the iPhone… which is flat in its growth.

Here is the QR code if you want to go straight to downloading the app.  And here is a link to the Realtor.com page about the app (including the QR code and a few screenshots).

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Sugar Hill, GA, Market Report, September 2010

Thursday, 04 November 2010 08:25
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Market stats for Sugar Hill, GA , September, 2010 indicate that there are 226 properties on the market. Overall, there is about an 10.4 month supply of properties, with sales dropping precipitously since June (31 in June, 15 in August and 17 in September).  Meanwhile, inventories are up.

In the sub-$200k arena, there are 151 listings, with under 13.7 months supply.  Sales are also about ¾ of the level last year over the last three months.  Sales appear to be decelerating.

Between $200k and $400k, there are 65 listings for sale, and about 11.5 months of supply.  As recently as May, there was only a 6.75 month supply.  September was better than August, but still pretty weak overall.

From $400k to $600k, there are 6 homes on the market. The absorption rate is around 18 months, but with 1 sale in the last 4 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.

Above $600k, 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 17 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… Median Price Comparison… Ouch!

Wednesday, 03 November 2010 08:12
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Midtown and Downtown Atlanta as seen from Vini...
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A couple of years ago I was looking at median house prices in the Atlanta area, via a map that the NAR (National Association of REALTORS®).  My friend Jay Thompson unearthed it… I think before the NAR was quite ready to release it.

The map is a fun little interactive tool, but the information is the real story here.  A couple of years ago, I noted that the Median Home Price in the Atlanta area was $158,300 for the 2nd Quarter of 2008, down 9.8% from the 1st Quarter of that year.

For the 2nd Quarter of 2010, we are sitting at $122,700… up 1.1% from last year.

If you were wondering how values have fared over the last couple of years, this was a pretty telling indicator… and it wasn’t good.  I honestly didn’t expect that the Atlanta market would go down by this much.  I expected a 10-15% decrease in values, but not something closer to 20% as we have seen.

Here is the link back to the original post… with the map.

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Suwanee, GA, Market Report, September 2010

Tuesday, 02 November 2010 08:29
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Market stats for Suwanee, GA, August, 2010 indicate that there are 598 properties on the market. Overall, there is about an 10 month supply of properties.  There was less that 8 months of inventory as recently as June, but sales are slowing even faster than inventory is shrinking.

In the sub-$200k arena, there are 144 listings, with about a 8.3 month supply.  In June, there was a 4.8 month supply.  Inventories have increased, until September, as sales have slowed… although sales for July and August (19 and 15) were exactly the same last year and at 18, there was only one less sale in September v last year.

Between $200k and $400k, there are 311 listings for sale, and 10.7 months of supply.  Sales for September 2010 were 30 compared with 39 for the same period in 2009.  Still weak, but much better than last month.

From $400k to $600k, there are 79 homes on the market. The absorption rate is at 9.1 months.  While 5 sales this year don’t compare favorably with the 9 sales last year, the three month average is almost exactly the same (26 v 27).  There are fewer listings, though.

In the $600k to $800k arena, there are 26 listings, with about a 7.8 month supply.  We can look directly to a reduction in inventory for the drop in absorption rate from 45 months in February… sales are still slower than last year, and seem to be decelerating (1 this year v 4 last September).

The range from $800k to $1m, there are 13 homes listed and approximately 39 months of inventory on the market.  There has only been 3 sales at this price level this year (1 each in January, April and May).  Honestly, last year looked a little better, but not much.

Above $1m, there are 25 properties listed. The current absorption rate indicated about 18.8 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.  But, in this segment, we should be seeing reduced inventories…

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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Duluth, GA, Market Report, September 2010

Monday, 01 November 2010 08:17
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Preliminary stats for Duluth, September, 2010 indicated that there were 588 properties on the market. Overall, there is about an 9.9 month supply of properties.  Months of Inventory has been increasing for the last couple of months.  Sales in September were 38, compared to 63 a year earlier.

In the sub-$200k arena, there were 226 listings, with about a 10.6 month supply.  The Absorption Rate had gotten down into the high 4 month realm… and as recent as December, was in the low 5s.  In May, it was at 7.9 months and has been rising since, markedly in the last couple of months.

Between $200k and $400k, there are 165 listings for sale, and about 9.2 months of supply.  Sales decreased from 17 in 2009 to 9 in 2010.  That is a big decrease compared to previous months.  Inventory has been sliding downward, too.

From $400k to $600k, there were 62 homes on the market. The absorption rate was around 6.9 months.  While sales haven’t been super strong, they haven’t been bad for this price segment.  I keep looking back at the 5.65 month absorption rate in December… but this is still among the best performing segments in Gwinnett County.

In the $600k to $800k arena, there were 51 listings, with about 8.1 months of supply.  This is amazingly strong for this price level.  However, sales were 0 for September, 2010 v 4 last year.  But, the three months of Jun-Aug 2010 were 26 v 10 last year.  At this level, that is huge.

The range from $800k to $1m, there were 28 homes listed and approximately 16.8 months of inventory on the market.  Continuously falling inventories and increased sales are fueling the increasingly favorable Absorption Rate (it was 67.5 months in February)

Above $1m, there were 56 properties listed. The current absorption rate indicated about 18.7 months of inventory.  A couple of sales at this level could have a large impact on the Absorption Rates…  There were 9 sales in the Jul-Sep period this year, and 11 sales for the same time last year… but inventories have been dropping.

Duluth, GA is a suburb of Atlanta, in the heart of Gwinnett County. It actually straddles the county line and has unincorporated portions in South Forsyth County. The population of Duluth is estimated as about 26,000 people as of 2008, but this doesn’t include unincorporated areas outside the city limits, but with a Duluth mailing address. It is also home to Sugarloaf Country Club, a PGA stop until recently.  Forbes Magazine rated Duluth 26th in their nationwide survey of the best places to move, and it is one of the wealthiest parts of Georgia.  It is also home to the Arena at Gwinnett Center (Home of the ECHL Gwinnett Gladiators) and the Atlanta Thrashers practice facility (the Duluth Ice Forum). There is a LONG list of celebrities and athletes that call Duluth home, largely because of the country clubs and proximity to Atlanta.

I have a page dedicated to Duluth Market Information.

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