Enter the query to search in posts. Thanks to Mirza for this useful search script.

Posts tagged "buford"

Friday, May 25th, 2012 ↓

Buford, GA, Market Report, April 2012

[caption id=”” align=”alignright” width=”300” caption=”Image via Wikipedia”]This map shows the incorporated and unincorpor...[/caption]

Market stats for Buford, GA, April, 2012 indicate that there were 399 properties on the market.  Overall, there was about an 5.1 month supply of properties (Absorption Rate or A/R).  There were 86 sales for April, flat from 86 last month and up from the 73 sales last April (2011).  It isn’t the strongest market in Gwinnett, but it is much better than it has been.

In the sub-$200k arena, there were 227 listings, with a 4.2 month supply.  This is the largest price segment in this market area, so strength here usually equals strength across the whole local market area.  Sales were flat from last month 61, but up compared to last year (51 sales in April, 2011).  But, the A/R is under the 6 months that would be considered fairly balanced… pointing towards a solid seller’s market.

Between $200k and $400k, there were 126 listings for sale, and about 6.2 months of supply.  The 19 sales recorded were flat from the 19 from last month and down a bit from the 22 sales last year for April.  This had been one of the weaker segments in the county, but has improved dramatically and at current A/Rs, it is one of the stronger $200k-$400k segments in the county, again, with increasing strength.

From $400k to $600k, there were 24 homes on the market.  The absorption rate is 8.0 Months.  There have been 9 sales in the last 3 months (0 for February, 3 for March and 6 for April).  When the market is rolling, there should be 6-8 sales a month during this part of the year.  September was pretty strong, and but we didn’t have the follow-up the next two months I was looking for… December was back in the right direction, and the drop in listings certainly helps.  January certainly wasn’t the month to call a recovery, nor February.  March showed a little promise.  April was nice.  Just for comparison, there was 1 sale in the Feb.-Apr. period in 2011.

In the $600k to $800k arena, there were 6 listings. Absorption Rate is 4.5 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 6 has made things look less slow… but there were 4 sales in this segment last year… and 3 sales in March.  This is a sign of strength, but the low inventory is what is driving the incredible A/R.

The range from $800k to $1m, there were 7 homes listed.  But, with no sales last year (2011), obviously trends are hardly definable. Listings are down, but sales aren’t following through.

Above $1m, there were 9 properties listed.  The last sale in the segment was in April… of 2009…and then there was May, 2011… and 2 sales in June, 2011.  So, we have 36 months of inventory.  I hope, 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 will open for the 2010-11 school year).

I have a page dedicated to Buford Market Data.

Related articles
Atlanta Metro Zillow Home Value Index

Enhanced by Zemanta

Original Article

Comments (View)
Tags: tumblrize buford buyers gwinnett market report news real estate sellers
Wednesday, May 23rd, 2012 ↓

But the News Said…

[caption id=”” align=”alignright” width=”300” caption=”English: Change of the Case-Shiller Home Price Index relative to its peak values in 1989 and 2006. Series starting in 1989 is in blue. Series starting in 2006 is in red. (Photo credit: Wikipedia)”]English: Change of the Case-Shiller Home Price...[/caption]

One of the comments I hear the most is “but the news said…”.  There are always stories on the news about the NAR (National Association of REALTORS®) market stats, Case-Shiller or others.  Most of the statistics are based on national numbers.  Case Shiller is a little more local, in that it is based on the local area… if you can call the Atlanta region “local”.

One thing I would note is that the Atlanta region DOES tend to track pretty close to national averages.  But being pretty close isn’t the same as being the same.  And even if it were, there is a huge difference between the Atlanta Metro area and Gwinnett County… much less Suwanee, or the Morningview subdivision.

And that is the problem…

We can’t listen to the news and have a clear picture of what it means for our house or our neighborhood.  It would be the same as looking at the Dow Jones Industrial Average (DJIA) and deciding whether a specific stock was going to go up or down.

But that is exactly what people do… They see a report on the network news and then decide that houses are over-priced, under-priced or whatever.  When the real fact is that some market segments are rocking bargains right now… there is too much inventory and not enough buyers.  Other segments have scarce inventory and homes are selling as fast as they are listed (if they are priced appropriately).  But the national news… or even the local news… can’t be that exact in their reporting.

Unlike a lot of real estate professionals, I don’t begrudge the news for reporting the “big picture” story on the real estate market.  We DO need to know what is happening on a national basis.  But we also need to remember that there are vast differences between neighborhoods, price ranges, ZIP codes, school areas, etc.

The best bet is to talk with a local agent… I have monthly market reports on 7 cities in Gwinnett County, GA.  If this is your area, you can get a much better idea of what is going on around you.  If you really want to know what is happening, let me know and we’ll talk about YOUR house.

Related articles
Enhanced by Zemanta

Original Article

Comments (View)
Tags: tumblrize atlanta buford business of real estate buyers client protection deals duluth gwinnett investment lawrenceville lilburn market report news norcross real estate sellers sugar hill suwanee
Friday, Apr 27th, 2012 ↓

Buford, GA, Market Report, March 2012

[caption id=”” align=”alignright” width=”300” caption=”Image via Wikipedia”]This map shows the incorporated and unincorpor...[/caption]

Market stats for Buford, GA, March, 2012 indicate that there were 407 properties on the market. Overall, there was about an 6.0 month supply of properties (Absorption Rate or A/R). There were 86 sales for February, up from 64 last month and from the 63 sales last March (2011). It isn’t the strongest market in Gwinnett, but it is much better than it has been.

In the sub-$200k arena, there were 240 listings, with a 5.0 month supply. This is the largest price segment in this market area, so strength here usually equals strength across the whole local market area. Sales were way up from last month (61 v 40), but pretty flat compared to last year (48 sales in March, 2011). But, the A/R is under the 6 months that would be considered fairly balanced… pointing towards a slight seller’s market.

Between $200k and $400k, there were 122 listings for sale, and about 7.3 months of supply. The 19 sales recorded were down from the 23 from last month and up a bit from the 14 sales last year for March. This had been one of the weaker segments in the county, but has improved dramatically and at current A/Rs, it is one of the stronger $200k-$400k segments in the county, again, with increasing strength.

From $400k to $600k, there were 23 homes on the market. The absorption rate is 17.3 Months. There have been 4 sales in the last 3 months (1 for January, 0 for February and 3 for March). When the market is rolling, there should be 6-8 sales a month during this part of the year. September was pretty strong, and but we didn’t have the follow-up the next two months I was looking for… December was back in the right direction, and the drop in listings certainly helps. January certainly wasn’t the month to call a recovery, nor February. Just for comparison, there were 2 sales in the Jan.-Mar. period in 2011.

In the $600k to $800k arena, there were 6 listings. Absorption Rate is 3.6 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 6 has made things look less slow… but there were 4 sales in this segment last year… and 3 sales in March.  This is a sign of strength, but the low inventory is what is driving the incredible A/R.

The range from $800k to $1m, there were 6 homes listed. But, with no sales last year (2011), obviously trends are hardly definable. Listings are down, but sales aren’t following through.

Above $1m, there were 10 properties listed. The last sale in the segment was in April… of 2009…and then there was May, 2011… and 2 sales in June, 2011. So, we have 40 months of inventory. I hope, 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 will open for the 2010-11 school year).

I have a page dedicated to Buford Market Data.

Related articles
Atlanta Metro Zillow Home Value Index

Enhanced by Zemanta

Original Article

Comments (View)
Tags: tumblrize buford buyers gwinnett market report news real estate sellers
Friday, Mar 23rd, 2012 ↓

Buford, GA, Market Report, February 2012

[caption id=”” align=”alignright” width=”300” caption=”Image via Wikipedia”]This map shows the incorporated and unincorpor...[/caption]

Market stats for Buford, GA, February, 2012 indicate that there were 431 properties on the market.  Overall, there was about an 6.5 month supply of properties (Absorption Rate or A/R).  There were 64 sales for February, up from 52 last month but only slightly up from the 60 sales last February (2011).  It isn’t the strongest market in Gwinnett, but it is much better than it has been.

In the sub-$200k arena, there were 257 listings, with a 5.7 month supply.  This is the largest price segment in this market area, so strength here usually equals strength across the whole local market area.  Sales were slightly down from last month (40 v 42), but pretty flat compared to last year (41 sales in February, 2011).  But, the A/R is under the 6 months that would be considered fairly balanced… pointing towards a slight seller’s market.  It is heartening that despite the increase in listings, the A/R still dropped.

Between $200k and $400k, there were 126 listings for sale, and about 6.8 months of supply.  The 23 sales recorded were way up from the 8 from last month and up a bit from the 18 sales last year for February.  This had been one of the weaker segments in the county, but has improved dramatically and at current A/Rs, it is one of the stronger $200k-$400k segments in the county, again, with increasing strength.

From $400k to $600k, there were 27 homes on the market.  The absorption rate is 16.2 Months.  There have been 5 sales in the last 3 months (4 sales for December and 1 for January, 0 for February).  When the market is rolling, there should be 5-7 sales a month during this part of the year.  September was pretty strong, and but we didn’t have the follow-up the next two months I was looking for…  December was back in the right direction, and the drop in listings certainly helps.  January certainly wasn’t the month to call a recovery, nor February.  Just for comparison, there were 5 sales in the Dec.-Feb. period in 2010/2011.

In the $600k to $800k arena, there were 5 listings. Absorption Rate is 5 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 5 homes has made things look less slow… but there were 4 sales in this segment last year… and 1 sale in February.

The range from $800k to $1m, there were 5 homes listed.  But, with no sales last year (2011), obviously trends are hardly definable.  Listings are down, but sales aren’t following through.

Above $1m, there were 11 properties listed. The last sale in the segment was in April… of 2009…and then there was May, 2011… and 2 sales in June, 2011.  So, we have 44 months of inventory.  I hope, 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 will open for the 2010-11 school year).

I have a page dedicated to Buford Market Data.

Related articles
Atlanta Metro Zillow Home Value Index

Enhanced by Zemanta

Original Article

Comments (View)
Tags: tumblrize buford buyers gwinnett market report news real estate sellers
Monday, Feb 20th, 2012 ↓

Buford, GA, Market Report, January 2012

[caption id=”” align=”alignright” width=”300” caption=”Image via Wikipedia”]This map shows the incorporated and unincorpor...[/caption]

Market stats for Buford, GA, January, 2012 indicate that there were 417 properties on the market.  Overall, there was about an 7.0 month supply of properties (Absorption Rate or A/R).  There were 52 sales for January, way down from 83 last month but strikingly up from the 27 sales last January (2011).  It isn’t the strongest market in Gwinnett, but it is much better than it has been.

In the sub-$200k arena, there were 246 listings, with a 5.9 month supply.  This is the largest price segment in this market area, so strength here usually equals strength across the whole local market area.  Sales were down from last month (42 v 53), but huge compared to last year (18 sales in January, 2011).  But, the A/R is under the 6 months that would be considered fairly balanced… pointing towards a slight seller’s market.

Between $200k and $400k, there were 126 listings for sale, and about 8.6 months of supply.  The 8 sales recorded were well down from the 25 from last month and up a bit from the 6 sales last year for January.  This had been one of the weaker segments in the county, but has improved dramatically and at current A/Rs, it is one of the stronger $200k-$400k segments in the county.

From $400k to $600k, there were 24 homes on the market.  The absorption rate is 9.0 Months.  There have been 8 sales in the last 3 months (3 sales for November, 4 sales for December and 1 for January).  When the market is rolling, there should be 5-7 sales a month during this part of the year.  September was pretty strong, and but we didn’t have the follow-up the next two months I was looking for…  December is back in the right direction, and the drop in listings certainly helps.  January certainly wasn’t the month to call a recovery.  Just for comparison, there were 5 sales in the Nov.-Jan. period in 2010/2011.

In the $600k to $800k arena, there were 6 listings.  Absorption Rate is 9 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 6 homes has made things look less slow… but there were 4 sales in this segment last year… and 1 sale in January.

The range from $800k to $1m, there were 5 homes listed.  But, with no sales in the last year (2011), obviously trends are hardly definable.  Listings are down, but sales aren’t following through.

Above $1m, there were 10 properties listed.  The last sale in the segment was in April… of 2009…and then there was May… and 2 sales in June. So, we have 40 months of inventory.  I hope, 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 will open for the 2010-11 school year).

I have a page dedicated to Buford Market Data.

Related articles
Atlanta Metro Zillow Home Value Index

Enhanced by Zemanta

Original Article

Comments (View)
Tags: tumblrize atlanta buford buyers gwinnett market report news real estate sellers
Wednesday, Feb 15th, 2012 ↓

Wayback Wednesday… Why Hyperlocal Matters in the Real Estate Market

[caption id=”” align=”alignright” width=”300” caption=”Image via Wikipedia”]Downtown Lawrenceville (as of June 2006)[/caption]

Last year I was writing about why the only REAL important market report in real estate is a VERY local market report.  It’s all fine and dandy to hear the talking heads on (insert your favorite national news network), but national averages mean nothing on the state level.  Even state averages mean very little in specific counties.  In fact, looking at county level data might only be marginally relevant to a certain city in the county, and even then, there might be specific school districts or subdivisions that buck the trend… one way or another.

I run market reports for Suwanee, Lilburn, Sugar Hill, Buford, Lawrenceville, Norcross and Duluth, and it is surprising how often two cities that are right next to each other in the county will have wildly different market reports.

There is a lot more in the original post…  Hop on over and take a look.

Related articles
Enhanced by Zemanta

Original Article

Comments (View)
Tags: tumblrize buford buyers duluth gwinnett lawrenceville lilburn norcross real estate sellers sugar hill suwanee wayback wednesday
Friday, Jan 27th, 2012 ↓

Buford, GA, Market Report, December 2011

[caption id=”” align=”alignright” width=”300” caption=”Image via Wikipedia”]This map shows the incorporated and unincorpor...[/caption]

Market stats for Buford, GA, December, 2011 indicate that there were 434 properties on the market.  Overall, there was about an 6.4 month supply of properties (Absorption Rate or A/R).  There were 83 sales for December, way up from 44 last month and even up from the 62 sales last December (2010).  It isn’t the strongest market in Gwinnett, but it is much better than it has been.

In the sub-$200k arena, there were 247 listings, with a 5.5 month supply.  This is the largest price segment in this market area, so strength here usually equals strength across the whole local market area.  Sales were well up from last month (53 v 30), but flat compared to last year (41 sales in December, 2010).  Framed in the results for the whole market area, the segment is reasonably strong.  And the A/R is under the 6 months that would be considered fairly balanced… pointing towards a slight seller’s market.

Between $200k and $400k, there were 138 listings for sale, and about 7.0 months of supply.  The 25 sales recorded were well down from the 11 from last month and from the 16 sales last year for December.  This had been one of the weaker segments in the county, but has improved dramatically and at current A/Rs, it is one of the stronger $200k-$400k segments in the county.

From $400k to $600k, there were 26 homes on the market. The absorption rate is 7.8 Months.  There have been 10 sales in the last 3 months (3 for October, 3 sales for November and 4 sales for December).  When the market is rolling, there should be 5-7 sales a month during this part of the year.  September was pretty strong, and but we didn’t have the follow-up the next two months I was looking for… December is back in the right direction, and the drop in listings certainly helps.  Just for comparison, there were 4 sales in the Oct.-Dec. period in 2010.

In the $600k to $800k arena, there were 6 listings. Absorption Rate is 18 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 6 homes has made things look less slow… but there have been 5 sales in this segment in the last year… the last was five months ago until the 1 sale in December.

The range from $800k to $1m, there were 7 homes listed. And with only 2 sales in the last year (December, 2010), obviously trends are hardly definable. Listings are down, but sales aren’t following through.

Above $1m, there were 10 properties listed. The last sale in the segment was in April… of 2009…and then there was May… and 2 sales in June. So, we have 37 months of inventory. I hope, 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 will open for the 2010-11 school year).

I have a page dedicated to Buford Market Data.

Related articles
Atlanta Metro Zillow Home Value Index

Enhanced by Zemanta

Original Article

Comments (View)
Tags: tumblrize atlanta buford buyers gwinnett market report news real estate sellers
Monday, Jan 2nd, 2012 ↓

Buford, GA, Market Report, November 2011

[caption id=”” align=”alignright” width=”300” caption=”Image via Wikipedia”]This map shows the incorporated and unincorpor...[/caption]

Market stats for Buford, GA, November, 2011 indicate that there were 480 properties on the market.  Overall, there was about an 7.2 month supply of properties (Absorption Rate or A/R).  There were 44 sales for October, way down  from 77 last month and dead on the 44 sales last November (2010).

In the sub-$200k arena, there were 261 listings, with a 5.8 month supply.  This is the largest price segment in this market area, so strength here usually equals strength across the whole local market area.  Sales were way down from last month (30 v 51), but flat compared to last year (29 sales in November, 2010).  Framed in the results for the whole market area, the segment is reasonably strong.  And the A/R is under the 6 months that would be considered fairly balanced… pointing towards a slight seller’s market.

Between $200k and $400k, there were 162 listings for sale, and about 9.4 months of supply. The 11 sales recorded were well down from the 23 from last month and slightly from the 13 sales last year for November. This had been one of the weaker segments in the county, but has improved dramatically… it’s still weaker than it should be, though.

From $400k to $600k, there were 33 homes on the market. The absorption rate is 8.3 Months. There have been 12 sales in the last 3 months (3 for November, 3 sales for October, 6 sales for September). When the market is rolling, there should be 5-7 sales a month during this part of the year. September was pretty strong, and but we didn’t have the follow-up the last two months I was looking for…  Just for comparison, there were 2 sales in the Sept.-Nov. period in 2010.

In the $600k to $800k arena, there were 8 listings. Absorption Rate is 48 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 homes has made things look less slow… but there have been 4 sales in this segment in the last year… the last was five months ago.

The range from $800k to $1m, there were 8 homes listed. And with only 2 sales in the last year (December, 2010), obviously trends are hardly definable. Listings are down, but sales aren’t following through.

Above $1m, there were 8 properties listed.  The last sale in the segment was in April… of 2009…and then there was May… and 2 sales in June.  So, we have 24 months of inventory.  I hope, 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 will open for the 2010-11 school year).

I have a page dedicated to Buford Market Data.

Related articles
Atlanta Metro Zillow Home Value Index

Enhanced by Zemanta

Original Article

Comments (View)
Tags: tumblrize buford buyers gwinnett market report news real estate sellers
Friday, Dec 16th, 2011 ↓

Buford, GA, Market Report, October 2011

[caption id=”” align=”alignright” width=”300” caption=”Image via Wikipedia”]This map shows the incorporated and unincorpor...[/caption]

Market stats for Buford, GA, October, 2011 indicate that there were 497 properties on the market.  Overall, there was about an 6.5 month supply of properties (Absorption Rate or A/R).  There were 77 sales for October, down slightly from 79 last month and up a good bit from 60 from last October (2010).

In the sub-$200k arena, there were 279 listings, with a 5.2 month supply.  This is the largest price segment in this market area, so strength here usually equals strength across the whole local market area.  Sales were down slightly from last month (51 v 55), but impressively strong compared to last year (37 sales in October, 2010).  Framed in the results for the whole market area, the segment is reasonably strong.  And the A/R is well under the 6 months that would be considered fairly balanced… pointing towards a seller’s market.

Between $200k and $400k, there were 167 listings for sale, and about 8.6 months of supply. The 23 sales recorded were slightly above the 18 from last month and dead on the 23 sales last year for October.  This had been one of the weaker segments in the county, but has improved dramatically… now it is unremarkable.  In this case, that is a HUGE improvement.

From $400k to $600k, there were 30 homes on the market.  The absorption rate is 8.2 Months.  There have been 11 sales in the last 3 months (3 sales for October, 6 sales for September, 2 for August).  When the market is rolling, there should be 5-7 sales a month during this part of the year.  Last month was pretty strong, and but we didn’t have the follow-up this month I was looking for…

In the $600k to $800k arena, there were 7 listings. Absorption Rate is 21 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 7 homes has made things look less slow… but there have been 4 sales in this segment in the last year… the last was two months ago.

The range from $800k to $1m, there were 6 homes listed.  And with only 2 sales in the last year (December, 2010), obviously trends are hardly definable.  Listings are down, but sales aren’t following through.

Above $1m, there were 8 properties listed.  The last sale in the segment was in April… of 2009…and then there was May… and 2 sales in June.  FINALLY, new sales! So, we have 16 months of inventory.  I hope, 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 will open for the 2010-11 school year).

I have a page dedicated to Buford Market Data.

Related articles
Atlanta Metro Zillow Home Value Index

Enhanced by Zemanta

Original Article

Comments (View)
Tags: tumblrize atlanta buford buyers gwinnett market report news real estate sellers
Wednesday, Dec 14th, 2011 ↓

Wayback Wednesday… Zestimate Accuracy in Atlanta

You just have to love Zillow’s Zestimates.  Log in and look… poof… there is the Zestmate for your home.  Couldn’t be easier.  It’s almost too easy.  OK, it IS too easy.  And while I love the Zestimate just as much as everyone else, I also know that the chances of it being right are pretty slim.

I don’t want to slam Zestimates, though.  They actually ARE quite useful.  Their usefulness isn’t in their application to individual houses… it has more to do with looking at Zestimates for larger areas… ZIP codes, cities, regions.  The statistical variations that are the problem with looking at individual houses start cancelling each other out.  what we are left with is a pretty good measure of home values for an area.

Last year I posted up a breakdown of the Zestimate accuracy of individual listings in the Atlanta Metro Statistical Area.  The bottom line is that the Zestimate has about a 1 in 5 chance of giving you a value within 5% of the real market value of your house.  And the y are just as likely to be high as they are low.

If you are just curious, it is a fun tool.  If you REALLY need to know, you should talk with an Appraiser or a Real Estate Agent (depending on WHY you really need to know).  And remember, the real estate agent that tells you the highest value is probably wrong… and might even know they are wrong.  In the business, we call it “buying a listing”.  The strategy there is to promise a high listing price, and then come back after you are in a listing agreement and try to get the price down to where it should have been in the first place.  The biggest problem with that strategy is that it completely wastes the prime market time… when the house is first listed.  The end result is that the price usually ends up lower than if you had opted for a slightly lower price to begin with.

Related articles
Enhanced by Zemanta

Original Article

Comments (View)
Tags: tumblrize atlanta buford business of real estate buyers client protection deals duluth gwinnett investment lawrenceville lilburn market report real estate sellers sugar hill suwanee Zestimate zillow