Posts Tagged ‘market report’
Wayback Wednesday… Recovery?
- Image by kenjonbro via Flickr
Recovery… In it or do we need to go to it? That was my question two years ago this week… and it is STILL a valid question. And two years ago, I don’t think there were many people (including me) that were expecting the housing slump to last this long.
But here we are, not knowing if a bottom to the market has been established or if there is more blood that needs to run in the streets.
At least now, more of us in the real estate community have figured out that stimulus and incentives aren’t the answer… JOBS are the answer. There are too many potential buyers out there that are worried about the security of their jobs. Demand can’t rise until buyers don’t feel threatened.
And that means that the Supply side of Supply/Demand will be out of whack… even thought the supplies have be mostly dropping for well over a year (compared to the previous year). And even though supply has been coming down, there have been reports of a wave of foreclosures just out of sight over the horizon (those reports have been with us for well over a year, too).
On the flip side, there are some pretty good deals. Mortgage rates are ROCKING… I heard a report today that rates hadn’t been this low in 60 years. If you ARE in a position to buy, it might be the best time in a generation. If not, I understand…
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View CommentsThis is what I feared… Gwinnett Market Report – July, 2010
- Image by lane.bailey via Flickr
I have been kind of expecting this, but of course it will take a couple of months to confirm…
The Tax Credit did not kick the Gwinnett Market into gear…
Instead, its expiration killed sales. Looking over the last few months of sales we see that for 2010, sales were (compared to 2009):
- January – down 10.9%
- February – up 1.7%
- March – up 10.1%
- April – up 14.1%
- May – up 17.3%
- June – down 0.8%
- July – down 26.2%
As we look over these numbers, there are a few things to keep in mind… To start with, the July numbers will likely get a little better. Although sales are supposed to be reported within 48 hours of closing, there are always stragglers that take a few weeks to make it into the reports. Contracts had to be written by April 30th, and sales here usually only take 30-45 days to close. That would be why sales were up in May, but not in June… those sales were likely closed. I didn’t see a lot of buyers playing chicken with the contract dates.
All isn’t doom and gloom… Inventories are down a bit from last year. This is helping to keep the absorption rates at a reasonable level. But they are still decelerating.
Look for specific reports over the next couple of weeks for Lilburn, Lawrenceville, Duluth, Suwanee, Sugar Hill, Buford and Norcross.
View CommentsNorcross, GA Market Report – April, 2010
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.
View CommentsBuford, GA Market Report – March 2010
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).
View CommentsSugar Hill, GA, Market Report – April, 2010
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.
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