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Tag Archives: gwinnett

Wayback Wednesday… Still Bickering…

Gwinnett County Historic Courthouse, Lawrencev...

Image via Wikipedia

Last year I wrote about how Gwinnett County and 15 cities in the county were involved in a lawsuit.  At that time, they only had days to get things straightened out before there were serious issues with the “Qualified Status” of the local governments.

A year later and they are still bickering over it.

There are a few changes…  Some police departments were de-certified to use radar.  The Gwinnett County Sheriff’s Department stepped in and ran radar.  The lawsuits are continuing.  The County could go bankrupt if the cities win.  Residents in the cities could continue to face double charges for services provided by the cities.

This would be more fun if we could just break out the popcorn and watch without financial implications or worry about city and county service delivery.

For more…

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Lilburn, GA Market Report, April 2011

great_room_6

Image by lane.bailey via Flickr

Market stats for Lilburn, GA, April, 2011, indicates that there were 440 properties on the market (as of April 30th). Overall, there was about an 10.6 month supply of properties and 44 properties that closed (sold) in April.  I had been looking for an increase in sales for March and it came through.  And while April was an increase over last year’s sales (36), it was a decrease from March, 2011 (55 sales).  Usually, we would be on an upswing until July or August.  I’m still hopeful… the Absorption Rate notched down a little.

In the sub-$200k arena, there are 310 listings, with about an 9.6 month supply with 32 sales.  This represents most of the sales in the market area.  Sales dropped sharply from last month (43), and were only slightly above last year (31).  While the Absorption Rate dropped slightly from 9.7 to 9.6 months of inventory, I really wanted to see more movement in this segment.

Between $200k and $400k, there are 115 listings for sale, and about 14.4 months of supply.  This segment has been quite weak for months.  Having 0 sales in December, and only 6 in November didn’t help. Nine sales in January was HUGE. But, February was back down below last year.  March was strong last year, but a little stronger this year (9 v 8 in 2010).  April was HUGE… 11 sales compared to just 4 last year.  If May stays strong, this could signal a return to a more balanced segment… and Lilburn has been missing that.

From $400k to $600k, there are 11 homes on the market. The absorption rate is 11 months. There were no sales in this segment from December through February, but there were 2 in March, which really turned the segment around, followed by 1 sale for April.  It doesn’t seem like much, but this is a segment hasn’t posted that many months with back to back sales… Watch May, because there haven’t been sales posted three months in a row since 2009.

From $600k to $800k, $800k to $1M and Above $1M, there are 4 listings (combined), but too few sales to have any sort of reliable number of months of inventory.  March posted the first sale since August, 2010.  It was in the $600-$800k range. One of the listings is above $1M (none between $800k and $1M), and there is no market activity in the last 12 months for that range…

Lilburn is in Gwinnett County, GA, just outside of Atlanta. As of the 2000 Census, there were 11,307 people in Lilburn, but that is only including people in the city limits, and there has been a lot of growth since 2000 in Gwinnett County. It was incorporated in 1910. Lilburn is home to Parkview High School, and also has students that the Brookwood, Berkmar and Meadowcreek clusters. It is also home to Killian Hill Christian School, Providence Chrisian Academy, St. John Neumann Catholic School and Parkview Christian School. Possibly the most famous resident of Lilburn is General Beauregard Lee, a groundhog with a better winter prediction record that Puxatawnee Phil up in PA. Dominique Wilkins, formerly of the Atlanta Hawks also lives in Lilburn.

I have a page dedicated to Lilburn Market Data.

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Can the Market Decide?

Installation of a sidewalk in Middletown, Rhod...

Image via Wikipedia

It has been almost a year since the last of the real estate targeted stimulus funds ended.  In fact, it was April 30th last year that contracts had to be written… with a June closing.

Interest rates were a touch higher than now… and sales were mixed compared to this year.  They were certainly up from the year before.

But there are some other VERY important facts to also consider:

  • Values in most of the country, including Gwinnett County, GA, are down from last year…  +$8000 tax credit…  -$15000 in value.
  • The government (taxpayers) borrowed about $17 billion for the rebates…
  • Much of the money went to people that would have bought homes anyway…
  • A good bit of the money went to people that weren’t actually eligible…

Maybe we should have just let the market work it out.  Maybe.

Here we are a year after the credits started to go away, and the market is showing signs of recovery… but the market tanked for a while immediately after the credits expired.  It would be VERY easy to argue that the reason the market is starting to turn is that prices have eroded further, not because of any lasting stimulation effect of the tax credit.

$17 billion here, $17 billion there… pretty soon you are talking about real money…

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Smokerise Baptist Church Car Show – 2011

Almost 100 cars.  Perfect weather.  Nice people.  Is there a better way to spend a Saturday afternoon?

Photo Friday… Talk To Some Kids…

One of the coolest things I get to do is to talk with school kids about business…  Oddly, they seem to like it, too.  We talk about taxes, business strategy and skills that may be valued in the future.

Junior Achievement is a great operation, which has programs for kids from kindergarten to high school.  In fact, today, as this post is being released, I am in a classroom with 8th graders talking about making solid choices for the future.

There are a lot of folks that criticize our schools.  They talk about how kids come out of school unprepared for life in the real world.  Business and economics are a couple of the areas that many of those complaints seem to be about.

I am NOT the expert.  I’m not the final word in any of these subjects.  But, I have a different set of skills and experiences than the teachers.  I would bet that you have a set of skills and experiences that could compliment what the kids are getting i

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