I am working a couple buyers this week in the Suwanee-Johns Creek-Alpharetta housing market and can vouch for the overall continued decline in home prices. The good news is many foreclosures are off the markets and banks are starting to move on short sales.
Couple issues with some owner resales I’ve viewed this week… Stage your house, 100 watt light bulbs, stretch the carpet, open the blinds, and when called for a showing appointment please don’t try and reschedule for 4:00 the next day. My buyers are moving quick and viewing 12+ houses a day. Please make sure your house stands out when we arrive. If you need help selling a home please email today, my listings are selling. jeffbarnwell@remax.net
As printed: www.ajc.com
Home prices were up in a majority of metro areas across the U.S. in the first quarter, but that piece of good news did not reach Atlanta. The median price of an existing single-family home here — half sold for more, half sold for less — sank 5 percent in the first three months of this year compared to the first three months of last year, according to a report by the National Association of Realtors, a trade organization.
Overall, the median price nationwide was down 1 percent for the first quarter of 2010 versus the first quarter of 2009, with 58 metro areas reporting price declines. Orlando was at the bottom, falling 15 percent. But the median price rose in 91 of 152 metropolitan statistical areas measured in the latest survey conducted by the association. Of those, 29 posted double-digit increases. Metro Atlanta ranked 124th on the list, in company with Des Moines, Green Bay, Wisc., and Decatur, Ill.
The median price in metro Atlanta was $110,100 for the first quarter. Nationally the median existing single-family home price was $166,100. Real estate industry observers cited the local employment picture as the main contributor for why metro Atlanta didn’t experience price increases seen elsewhere. “The primary reason we’re seeing softness in [the metro Atlanta] market is that we’re still seeing a problem with job losses and that is weighing on demand,” said Walter Molony, spokesman for the National Association of Realtors. Lower interest rates on borrowing, combined with federal tax credits for home buyers, helped stimulate the market, but employment concerns held down sales and prices in some areas.
“The reality of it all is there are still tough times ahead,” said Jim Crawford, an associate broker with Re/Max Paramount Properties. “We’re not going to see much change until there are serious changes in the job market.” Lawrence Yun, chief economist for the NAR, said that nationally, “This flattening in home prices is something we’ve been seeing in all of the home price measures lately and quite clearly in this metro area price report
Johns Creek, Suwanee, north fulton, Duluth, East Cobb, Milton, Roswell, Atlanta, Buford, South Forsyth, Country Club of the South, St Ives Country Club, St Marlo, Laurel Springs
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