No doubt about it, it’s still a tale of 2 markets: 1/2 of the total sales are under $200k and the other 1/2 are over $200k. The under $200k market sales are increasing & inventory #s are decreasing – and with mortgage rates about .5 to 1% higher than 6 monts ago, Buyers who haven’t bought might have slept through the absolute best deals…they’re still out there, but there aren’t as many of them & TONS of other buyers are on the prowl.

What you want to take from this, however, is that there is yet another positive trend (or slight decline) in the # of foreclosure transactions in the market…2nd Qtr foreclosures represented 31.8% of all sales but in 1st Qtr they were 36.9% of all sales. The market is absorbing these homes…this is a sign of a rebound & we’re going to look back on this as the “bottom of the market” in years ahead. Right now is the opportunity for a Buyer to build equity for the next 5-10 years…and gain wealth through real estate in a way that can hardly be duplicated through any other type of investment. And for 1st time Buyers…you get paid to do it. So why not? Why not now?

And look at the increase in available foreclosures in the over $1 million market!  From virtually NONE (.06%) to 11% of the sales in that price point >  click here for a complete list of Atlanta Foreclusures over $1,000,000.  Still not much selling in that price point, but if you’re looking for a deal, you can find one…

I believe we’re actually a couple of months behind in the normal trends as well…we’re seeing our “Spring” Market now. It took a little while for things to heat up, but sales have really picked up this summer & you’ll see the effects of it in the info below…

I’ll be back w/ more tomorrow…or maybe Wednesday…but this is a little something to chew on & it paints a little of the picture to come.

If we can help you or anyone you know, don’t hesitate to ask. We’re never too busy and we love putting smiles on faces when we help someone buy or sell a home!

have a great week!
The Kelly Sells Atlanta Team
www.KellySellsAtlanta.com

Mark your calenders for the 9th Annual Decatur BBQ Blues and Bluegrass Festival happening on August 15, 2009 from 4pm-10pm. This year’s festival will be held at Harmony Park in Decatur’s Oakhurst Village. The park is located at the intersection of Oakview Road and East Lake Drive in Decatur, GA 30030.

Five Star Barbecue, O.B.’s and Black Tie Barbeque will be serving delicious pulled pork and chicken, ribs and more! If you want it, it will be there!

Ice cold sweet tea, Sierra Nevada, Miller Lite, Peroni will be available to wash all that goodness down.
This year’s headlining act will be Michelle Malone who has just released a new CD titled “Debris”.

Ages 21+ = $10
Ages 10-20 = $5
Kids 10 and under are FREE! (it’s a fun event for them too. My 2 year old loves to boogie down at this festival)

For a complete list of homes for sale in Oakhurst Village click here: Oakhurst Homes For Sale

For a link to Michelle Malone’s website click here: www.michellemalone.com

See you at the festival!

“Can I live in Buckhead for under $350k?”   YES YOU CAN! 

There are actually more homes in Buckhead for under $350k than you might think…and some very nice ones, I might add!  And make no mistake, Buckhead has long been THE spot to own Real Estate in Atlanta.  GREAT Schools (Sarah Smith, Morris Brandon, Warren T. Jackson, E. Rivers & Garden Hills), beautiful neighborhoods & all the conveniences you could want nestled just north of Midtown and wedged inside both I-75, I-85 & the top end Perimeter of I-285.

Buckhead is one of Atlanta’s busiest financial centers and features gracious and historic homes, world-class shopping centers, elegant hotels and fantastic restaurants.  It has been called one of the United State’s top most affluent communities.

Buckhead is also one of the busiest Real Estate areas of Atlanta.  1631 single-family detached homes sold in 2006, 1704 in 2008, 1470 in 2008 and 61 thus far in 2009 with 40 Pending & the market (& weather) just getting warmed up.  The average list price of the solds was $692,924 and the avgerage sales price of those Buckhead homes was $634,516, resulting in an average list price to sales price ratio of 91.6%.  Not a bad discount!  This means there are some deals to be had in Buckhead as well! (none of these #s are including condos/townhomes)

With all that said, you can see that if you can get into Buckhead under $350k, you’re one of the few…that’s the sweet-spot & in that 1st Time Buyer wheel-house.  After all, 1st Time Buyers have ALL the start aligning for them right now, don’t they?  Time to take advantage!!

If you’d like to see what’s available in that price range, click here to see all Buckhead homes for sale $350k & below.

For ALL Buckhead homes for sale, click here.

Enjoy these and visit daily if you’d like. This site is connected to the MLS’s and is updated daily! You’ll always find the most current data & properties for sale here. If you have a more specific search request, don’t hesitate to ask.  You can contact us through our site or email our Buyer’s Specialist, Aaron, at aaron@kellysellsatlanta.com. 

Thanks so much for stopping by & Happy Hunting!

Aaron & Kelly Allen
The Kell Sells Atlanta Team
www.KellySellsAtlanta.com
Kelly | Listing Specialist | 404-606-2219 | kelly@kellysellsatlanta.com
Aaron | Buyer Specialist | 404-863-8680 | aaron@kellysellsatlanta.com
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Named after its location at the intersection of Virginia and North Highland Avenues, this district still remains a popular spot for Atlanta’s young professionals. At one time this prime area was in danger of becoming part of a planned highway system, but with the efforts of community leaders and activists, the area revitalized itself to become the urban professional’s dream. Virginia-Highland is the area within the Atlanta city limits bounded on the north by Amsterdam Avenue, on the south by Ponce de Leon Avenue, on the east by Briarcliff Road, and on the west by the Southern Railroad Line.

Virginia Highland & it’s residents can remain proud of their investment, because the neighborhood seems to be bucking this current real estate shift and holding value:

In 2007 the neighborhood experienced 123 sales. Their average sales price was $639,127. On average, it took 63 days for these homes to sell.
In 2008 there were 96 sales (a 22 % decrease), but the average sales price stayed strong at $636,790 (a minimal decrease of less than 1%).  On average, it took a few days longer for the homes to sell, but still only took 66 days to sell a VH home.

The most current data we have thus far in 2009 shows that there have been only 7 home sales (for an average of $521,071) with 5 currently under contract, and we typically see higher priced home sales in the summer months (mainly June) so expect to see this Average Sales Price increase throughout the year.

When many other neighborhoods were seeing sliding home values, this Atlanta neighborhood was seeing it’s values remain solid.

Suffice to say that if you don’t have to sell, don’t BUT if you are a seller in Virginia Highland (or anywhere in this Morningside Elementary School District) don’t listen too carefully to the doom and gloom about Atlanta’s real estate market.

For you home shoppers that want to view the 72 homes currently for sale:

Click here for all Virginia-Highlands Homes for Sale!!

We have experience and the most up-to-date data and statistics regarding the economics of Atlanta, Georgia real estate, so don’t hesitate to give us a call or shoot us an email if we can help you in any way.

Kelly & Aaron Allen
404-606-2219 Kelly
404-863-8680 Aaron
Keller Williams Realty Premier Atlanta
404-969-1600 office
www.KellySellsAtlanta.com

Step right up & get a pocket full o’cash!!                                                                                                            

The new developments of the 2009 First Time Home Buyer Tax Credit provides for a $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. The credit does not require repayment.
Most of the mechanics of the credit will be the same as under the 2008 rules: the credit will be claimed on a tax return to reduce the purchaser’s income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.

Click here to see a breakdown of the qualification requirements & guidelines…

Please pass this along to anyone you know who’s thinking of Buying – or maybe even thinking of Selling.  This credit will offer opportunities for both.  More (motivated) Buyers in the market means good news for Sellers, so although the Seller wouldn’t benefit on their next home purchase, this could actually be the best time in the past year or so to get ‘on’ the market with an increase of buyers out there with new incentive.  And remind married couples, if only one of the 2 are on the deed, then the other could “purchase” their next home and potentially benefit from this tax credit as well…just a thought!

Click to email us > we’re here to help…

Warmest Regards,

The Kelly Sells Atlanta Team
Your Neighbors | Your Real Estate Experts
> focus forward…focus on opportunity >>

>> There are Lies, Damn Lies…then there are Statistics.

Here is what we’re seeing. If you’d like to skip the hard data, scroll to the bottom of this article where I’ve outlined what this means to a Buyer or a Seller right now….Further below you’ll find graphs and additional “case specific” data.

AND IF YOU’RE CURIOUS ABOUT THE “INTOWN” ATLANTA STATS, EMAIL US - WE HAVE THOSE AS WELL…

On to Metro Stats:

• 2008 home sales are down 22% compared to 2007 (but this is a slight increase from the final 3rd quarter numbers).
• 33,000 metro Atlanta homes sold in 2008
• The <$200k price range is down only -2.2%.  31.7% of Home Sales in this price range were Foreclosures
• The Median Sales Price is down 11.7% compared to year-end 2007, however, pockets of the metro Atlanta market are showing an increase while others are showing only a 2% decline.
• On average, 2008 Sellers got 92.5% of their asking price
• It took Sellers 84 Days, on average, to sell their home.  However, if the home was priced properly, it took only 27 days to sell!  It’s ALWAYS a Seller’s Market for a great house at a great price!!
• If you were a Seller and had to reduce your price in 2008, you were on the market 3x longer than if you’d have gotten the price right when 1st listed. 
• 8 out of 10 Listings in 2008 were over-priced.
• Supply reached a high at 10.8 months of supply in December, 2008 – but the Supply has been declining steadiliy since July 2008 and there is greater supply at higher price ranges (great news for move-up buyers!)

thanks for visiting KellySellsAtlanta.com – your metro and intown Atlanta Real Estate Resource…

The Kelly Sells Atlanta Team >> Your Neighbors.  Your Real Estate Experts.

The rate of decline in # of homes sold had begun to slow during the 2nd and 3rd quarters of 2008 (vs. the same quarters of 2007), then sales slowed again in the 4th quarter of 2008…which is normal, but with the Real Estate market under a magnifying glass of late, don’t read too much into that particular stat because this happens every year. 

What you should come away knowing is that 2nd and 3rd quarters were showing an increase in sales #s and this is an indication that we’re bouncing around at the bottom of the market.  So if you’re looking to “time the bottom” be watching the clock closely.

 Basically…if you’re waiting for a deal…I think there’s one out there for you

Let us know how we can help - or visit us at KellySellsAtlanta.com…we’re ready when you are.