As hard as I try, the homes that I see selling in the Athens area are not the $300,000 McMansions or even the cottages decked out in all the refinements of life, but all too often homes that sell are for the most part homes that are priced below $200,000.
In Oconee this seems to be slightly different due to the building up of the county during years of economic boom. There is not that much new for less than $200,000 and many buyers I work with still seems to gravitate toward new(er) homes.
For example, let's pick on West Oconee for a moment, based upon the year ending July '09, we saw 57 percent of all home sales over $200,000. Now if you bumped your price point to $250,000+, these home sales accounted for 38 percent of homes sold, and $300,000+ accounted for 26 percent of homes sold in the West end of the county.
How does this compare to the same time frame through July '08? A year ago sales at $200,000+ accounted for 68 percent of all homes sold in West Oconee. At $300,000+ we saw 36 percent of all homes sold in West Oconee.
Average sales figures are down. We see a reduction of the numbers of homes sold by 55 percent over the same period a year ago. This means of course that average Days on Market are up considerably (256 from 219).
If you break down Days on Market and price range of homes sold you find the following;
$200,000 230 DOM
$250,000 193 DOM
$300,000 356 DOM
$400,000 393 DOM
$500,000 530 DOM
What was the easiest sale in West Oconee in the past year? A four bedroom home priced between $250,000-$299,900 sold in "just" 193 days. The hardest sale would be a three bedroom home priced between $300,000-$399,900. None sold.
All in all, if you are a home seller, have patience because "if priced right" your home will sell. It is just a matter of when.
Friday, July 31, 2009
End of the Month brings more Athens Home Sales Analytics
Well here we are again. End of another month, peak season as it were, and I am about to embark on another mission into exploring the sales data provided by the Athens, GA MLS into residential home sales in Athens.
Initially the data suggest that in the last twelve months through July '09 that the average Days on Market has increased to 206 days, the numbers of homes sold for Athens in this 12-month period has decreased, and average sales prices have decreased.
What I am most curious about however is whether or not Athens home prices have truly seen a decline or does this month's sales data only provide more validation to the idea that while first time home buyers are certainly in our market, the "step up" buyer is still missing.
For 12-months ending July '09 there were 822 homes sold in Athens with 21.2 percent of these having a sales price over $200,000. How does this compare with the same time period a year ago? Well at the end of July '08 there were 1337 homes sold in the Athens market. 368 of these homes sales were sold at over $200,000. A 27.5 percent rate of sales for homes over $200k versus 21.2 percent in the recent year.
The good is that inventory which had sky rocketed through 2008 is now off 18 percent from a year ago and a full one-third from the same period ending July '07.
Do these numbers so far imply that the Athens market has in fact not decreased in value. Not really. In fact, Athens like most markets is off some. Not as much as many markets in the area, much less statewide, but compare 12-months sales figures through June '08 to the most recent 12-month period (July '09) the average priced sale in Athens is down about 3 percent. Now in higher-end subdivisions or those neighborhoods with a large percentage of short sales or "distressed property," you will see a higher variance of list versus sales price, but on the average of what's actually selling in Athens, prices have fairly well maintained.
Initially the data suggest that in the last twelve months through July '09 that the average Days on Market has increased to 206 days, the numbers of homes sold for Athens in this 12-month period has decreased, and average sales prices have decreased.
What I am most curious about however is whether or not Athens home prices have truly seen a decline or does this month's sales data only provide more validation to the idea that while first time home buyers are certainly in our market, the "step up" buyer is still missing.
For 12-months ending July '09 there were 822 homes sold in Athens with 21.2 percent of these having a sales price over $200,000. How does this compare with the same time period a year ago? Well at the end of July '08 there were 1337 homes sold in the Athens market. 368 of these homes sales were sold at over $200,000. A 27.5 percent rate of sales for homes over $200k versus 21.2 percent in the recent year.
The good is that inventory which had sky rocketed through 2008 is now off 18 percent from a year ago and a full one-third from the same period ending July '07.
Do these numbers so far imply that the Athens market has in fact not decreased in value. Not really. In fact, Athens like most markets is off some. Not as much as many markets in the area, much less statewide, but compare 12-months sales figures through June '08 to the most recent 12-month period (July '09) the average priced sale in Athens is down about 3 percent. Now in higher-end subdivisions or those neighborhoods with a large percentage of short sales or "distressed property," you will see a higher variance of list versus sales price, but on the average of what's actually selling in Athens, prices have fairly well maintained.
Thursday, July 30, 2009
"I need more Showings for my House to Sell!!"
A common concern for most sellers today is the "lack of showings." I heard from one agent that a new Seller client actually emailed her the other day with the subject line, "House on market 24 hours and no showings." The email went on to talk about how "worried" she was that her home had been in the MLS for a day and there was no interest even to see it yet.
How do we get traffic? Do Open Houses help get your home shown more? Do advertisements in the Real Estate Book of Athens get your home more previews and traffic? Should you care? Is the idea we have been conditioned to that tells us we need foot traffic in our homes for sale an outdated, old school, way of looking at home selling in 2009?
Looking over 20 current listings which are active, under contract, or just sold I have tried to see if the number of showings mean anything toward finding that right buyer. In the end, I feel that through the technology of Virtual Tours and putting multiple High Resolution photos of a home for sale online, that this in itself will inherently reduce the amount of foot traffic. So let's take a look at some listings to see if physical showings necessarily create a buyer.
| MLS | DOM | Price Range |
| Showings | Status |
| 988488 | 63 | $200k-$250k |
| 2 | Sold |
| 910245 | 76 | $150k-$175k |
| 28 | UC
|
| 907301 | 262 | $100k-$110k |
| 48 | UC |
| 909612 | 112 | $125k-$150k |
| 2 | UC |
UC (Under Contract)
None of these listings has had an Open House. None. Why you might ask? It is a little known secret in real estate circles that Realtors have Open Houses to find Buyers. Yep, but not necessarily for the listing they are "using" to hold the open house, but for "any listing." This is also why they spend money on the Real Estate Book and other media. To find buyers. Not to sell a particular listing, but to "get the phone ringing."
Yet on average it appears that Days on Market for my listings before going under contract (just using this sample group) is 127 days. Not bad when the average Days on Market is 205 days in Athens over the past year.
What begets a buyer offer? Good exposure and the right price.
Exposure is the easy part if your agent can handle Web 2.0. Listing #988488 above was actually "sold" to the buyer "before they had ever set foot in it." That's right. The Virtual Tour sold it to them. The traditional "staid" buyer's agent didn't know what to do with herself. She called me "concerned" and bewildered all at the same time because her clients had never "seen" the house. Well they had. About 2 dozen times online via the Web.
The hard part is price. How to get price right. This is something that always works, but sellers either are not in a position to bend or won't. It is a tough market. One of these listings under contract currently is actually selling for what the current owner paid for it in 2003. This is not the situation with everyone, but hopefully with get you to think.
If you want a Current Market Analysis to see what the value of your home is please contact me. I am good at what I do and I would love to be of service.
Wednesday, July 29, 2009
Athens Home Values and Prices; According to Zillow, Trends are Higher
Posted on May 22, 2009 by hankbailey | Edit
One of the biggest soapbox issues I have is that “real estate is local” not a national market. Information from Zillow.com shows the one year change on Athens, GA home prices is up a whopping 10.5%. Click the link for Athens Home Values on the Zillow badge below to view the Zillow Home Value Index for 1,5, and 10 years. On this line graph I think you will see that as a whole Athens has not only been resilient over the past year, but due to the University of Georgia, Athens real estate has been consistently positive for the long term.
| Athens | National | ||
| Zillow Home Value Index: | $151,974 | $185,992 | |
| 1-Yr. Change: | $14,379 | -$28,614 | |
| Zestimate Per Sq. Ft.: | $144 | $226 | |
| Flips (Sold Twice Within the Last Yr.): | 0.0% | 1.3% | |
| Turnover (Sold Within Last Yr.): | 3.0% | 1.8% | |
| Property Tax: | $1,837 | $2,973 | |
| Median Condo Value: | $133,000 | $193,500 | |
| Median Single Family Home Value: | $166,000 | $208,500 | |
Athens GA Home Sales; Peak Season
One thing I have noticed is that it seems that in the last two weeks the market has exploded. Homes are falling under contract with more regularity. Still, one constant seems to remain. The lack of "step up" buyers in the market. Below you will find a chart of homes sold in the Athens MLS in the last two weeks. There were only four homes out of 36, or 11 percent, which were over $250,000.
Contrary to the national media attention to the mythological "national real estate market," we are seeing a strong 95 percent List/Sold ratio for home sellers in the Greater Athens area and a reasonable DOM (days on market) in the past couple of weeks of 166 days on properties sold.
| Statistics (36 listings) | |||||
| Low | High | Average | Median | Total | |
| List Price | $12,000 | $525,000 | $168,450 | $138,000 | $6,064,200 |
| Selling Price | $8,000 | $452,000 | $159,069 | $136,750 | $5,726,500 |
| List/Sold(%) | 66.67% | 100.00% | 94.72% | 95.65% | -- |
| Days on Market | 26 | 999 | 166 | 105.5 | -- |
Contrary to the national media attention to the mythological "national real estate market," we are seeing a strong 95 percent List/Sold ratio for home sellers in the Greater Athens area and a reasonable DOM (days on market) in the past couple of weeks of 166 days on properties sold.
Tuesday, July 28, 2009
‘Green’ Money, Tax Credits and Housing Recovery
Many people know about the $8,000 home buyer tax credit, but did you know that the American Recovery and Reinvestment Act of 2009 also established a number of tax breaks for current homeowners who want to improve their home’s energy efficiency?
Energy-efficient improvements to exterior windows, skylights and doors as well as certain metal and asphalt roofs qualify for 30 percent of the project cost, up to $1,500. The credit covers installation costs for HVAC, gas, oil and propane water heaters and biomass stoves. These improvements qualify for the credit through December 31, 2010.
Owners who go a step further by adding geothermal heat pumps solar energy systems or small wind energy systems will qualify for 30 percent of the entire cost, including installation, and the tax credit doesn’t expire until December 31, 2016.
The importance of being green
As I talk to home buyers locally and see friends of mine walking around the local home improvement stores on the weekend as they hurriedly collect things they need for home improvement plans, I think that most are aware of the available energy efficient tax incentives. They plan to make energy improvements to either make their current home more marketable if it is currently for sale or to keep it updated for the times and for future marketability. For more information about green building issues, visit http://www.realtor.org/government_affairs/smart_growth/principles.
In the end, if you already own the home, simply improving it is easy and it makes "cents." Sorry, I had to say it!!
Economists' Commentary: Regional Round Up
July 27, 2009
By Ken Fears, Manager, Regional Economics
Although every market is unique they share similar demographic, economic, and migration fundamentals. Consequently, some trends repeat themselves around the country to varying degrees. Foreclosures are having a substantial impact in some markets, while unemployment is the primary concern in other locations. The most recent Market Price Reports are available for the first quarter and they highlight these trends in each market. However, this report will discuss some of the broader patterns that are making an impact on regional housing markets.
Even in the best of times a small number of homeowners fall behind on their mortgage payments, in some cases resulting in foreclosure. Since the beginning of 2007, however, the foreclosure rate has risen in every state in the country. Some states have fared better than others. The initial wave of foreclosures resulted from a confluence of financially vulnerable borrowers using risky loans to finance home purchases in areas where prices had escalated rapidly over a long period of time resulting in an environment of weak affordability. This pattern was most common in the markets of California, Arizona, Nevada, and Florida, but it occurred to an extent in any market where there was a long period of price increases that eroded affordability (this pattern could be restricted to certain neighborhoods).
Foreclosures have been a problem in parts of Michigan, Ohio, and Illinois for even longer, though. The global economic recession that started in 1999 caused a structural change in the economy of this region, shifting thousands of manufacturing jobs from this area abroad. This permanent loss of jobs resulted in high unemployment and elevated foreclosure rates as well as slack housing demand even as the national economy expanded. High foreclosure rates have characterized this area since, but were exacerbated by increased access to risky loans in 2005 and 2006 followed by mass layoffs more recently.
As of the first quarter of 2009, these two areas - states which experienced the sharpest increase in home prices and areas of the Rust Belt - share the highest concentrations of foreclosures with rates in excess of 5.0 percent and as high as 10.0 percent. Foreclosures have swelled inventories and depressed demand in California, Florida, Arizona and Nevada. A recessionary economy only made matters worse. Stabilizing these foreclosures through loan workouts and higher demand is critical to stabilizing prices in these areas.
Foreclosures have also risen in other areas of the Midwest, Mid Atlantic, Northwest, Southeast, and Northeast, but not to the same extent as in the Sun Belt and Rust Belt markets. Rates in these areas currently hover in the 1.0 percent to 2.0 percent range with some states in the 4.0 percent range. Localized pockets of high foreclosures exist in each of these regions, though. While the national foreclosure rate moderated between the fourth quarter of 2008 and the first quarter of 2009, this decline may prove temporary as the Administration’s moratorium on foreclosure processing by the GSEs (Fannie Mae and Freddie Mac) expired in March of 2009. The cessation of the moratorium could lead to a bulge in foreclosures over the summer.
Not surprisingly, prices have fallen sharply in areas where there are large concentrations of foreclosures; notably in California, Arizona, Florida, but also in parts of Michigan and Ohio where price declines are in excess of 40 percent from their peak levels during the housing boom to the first quarter of 2009.
Prices have been most resilient in those markets that were last to join the housing boom like those in Texas (Dallas, Austin, Houston, etc.), Utah (Salt Lake), New Mexico (Albuquerque and Farmington) and Oklahoma (Oklahoma City and Tulsa). Similarly, smaller Northeast markets such as Reading, Pittsburgh, New Haven, and Upstate and Western New York (Buffalo, Syracuse, Albany, and Binghamton) and many markets in the Midwest and upper South like Chattanooga, Waterloo/Cedar Falls, and Green Bay have seen more modest declines in the range of 10 to 20 percent. These markets did not experience the sharp, headline-making price increases that led to subsequent lending and foreclosure problems. Consequently, while they have been impacted by the shortage of financing and general buyer apprehension, prices have not fallen as much in these areas for typical properties.
The performance of high priced markets on the East coast like New York City, Providence, Boston, and Washington, DC is somewhere in the middle. They have experienced considerable declines since their respective price peaks, in the range of 20 percent to 40 percent through the first quarter of 2009, but these market corrections have not been as sharp relative to markets with high concentrations of foreclosures. The price declines in these markets tend to reflect sharp declines in peripheral areas, while more central and established neighborhoods have only witnessed modest declines, if any.
These changes in prices took time to develop. Many markets skidded to a halt until earlier this year. Recently there has been a substantial change in the pattern of home sales, which resulted directly from the changing pricing environment. The second part of this commentary will address these shifting sales trends.
Copyright National Association of REALTORS®, Reprinted with permission
Monday, July 27, 2009
Athens GA Homes, Market, and Trends
We find that as of today there are 2,091 homes in Athens Georgia for sale on Trulia as well as 231 homes in the "pre-foreclosure," auction, or bank-owned stages of the foreclosure process. This 9:1 Ratio of non-distressed sales inventory to distressed sales is relatively low compared to Atlanta, Georgia as a whole, and the nation.
According to Trulia the average list price for homes for sale in Athens was $228,829 for the week ending Jul 22, 2009, which was a gain of about 1.5 percent, or $3,000 for the current week.
Quick Statistics from the Athens Multiple Listing Service regarding 80 sales in the past 30 Days show the following;
| Statistics (81 listings) | |||||
| Low | High | Average | Median | Total | |
| List Price | $12,000 | $639,000 | $162,708 | $138,000 | $13,179,349 |
| Selling Price | $8,000 | $624,000 | $155,823 | $131,500 | $12,465,845 |
| List/Sold(%) | 66.67% | 109.08% | 95.46% | 96.39% | -- |
| Days on Market | 22 | 999 | 178 | 114 | -- |
What seems most interesting is that the "Step Up Buyers" are still not to be found. In July of 2008 there were 105 Homes sold in Athens, GA and 32 of those (or 30.4 percent) were over $200,000. Thus far in July of 2009 we see this figure of homes sold over $200,000 reduced to 15.3 percent and the number of homes sold decreased to 78 this year. This of course will lower average and median sales prices, but it does not indicate a "price fallout," per se, but a majority of homes sold in that "first time home buyer" price point.
Comparatively speaking it has been a good month. We are still seeing a slight decrease year over year towards the end of July in the numbers of homes sold in Athens. The positive is that on actual sales we are seeing Sellers get a high percentage of List/Sales price.
Sunday, July 26, 2009
Georgia Homebuyer Tax Credit Signed into law!
Posted on May 26, 2009 by hankbailey
The GAR reports, “HB 261 was signed into law on May 11, 2009 by Governor Sonny Perdue! GAR applauds House Sponsor Ron Stephens (Savannah), House Ways and Means Chairman Larry O’Neal (Warner Robins) and Senate Chairman Chip Pearson (Dawsonville) for their tireless efforts in the passage of this important legislation. Unlike the federal tax credit, theGeorgia credit is not limited to first-time homebuyers, and there are no applicable income limits. The amount of the credit is 1.2% of the purchase price up to $1,800 spread over three years. The credit is only available to buyers of eligible single family residences who close between June 1 and November 30 of 2009.”
FAQ regard the Georgia Homebuyer Tax Credit.
If you are a buyer in our market, these are probably the best buying conditions in 30 years! If you would like to search the Athens MLS please take a look at listings in our “Classic City” today! On this web MLS search solution you can search every listing on the Georgia MLS for the Greater Athens area or in your Georgia town!
Saturday, July 25, 2009
Athens GA Real Estate Experts
By now you have heard me tout Zillow a thousands times over. I have been proud to be a Zillow All Star and have provided detail to their site, uploaded pictures from around Athens, added listings, etc...Now they have bestowed the privilege of being a Zillow Local Expert for Athens Georgia.
Note the badge below that was created to recognize those who have made contributions deemed valuable in a specific city on Zillow. According to Zillow, "Local Experts are active Zillow users who share their real estate knowledge and help others by contributing high-quality content at a local level. The more and better the contributions a user makes that relate to that city or neighborhood, the more likely an award will be granted. Users’ contributions can be seen in their profiles."
When looking at Realtor profiles on Zillow you will see a compass icon next to the name of a city in a Realtor’s Zillow Directory listing. This means they have been awarded a Local Expert badge for that town or city.
As I say, it is indeed a privilege and honor that I appreciate.
Friday, July 24, 2009
Future First-Time Home Buyer Perspectives
By Tyler Morrison, Research Intern
As I go into my junior year at the University of Maryland College Park I have this persistent thought of the “real world” that lingers in the corners of my mind. With everyone talking about how bad the economy is and one facet in particular – the housing market - I feel like Alice or Dorothy, totally lost. When I graduate what do I do? Should I buy a house and start a family like the American Dream suggests? Or should I continue to rent and save up what little I can after I get my first job and see how the market goes?
There are a few fairly simple strategies that I have found to help you make your decision of what to do when you graduate as far as buying your first home. Ask yourself some questions and the answers will help lead you down the yellow brick road to homeownership. How much of your prospective rent will be going to the homeowner’s down payment toward their rent? How locked in are you if you change your mind? What will it cost you to get out of the deal? How long will it take to accumulate enough of a down payment that you are likely to qualify for a mortgage?
If you expect to move within two years it rarely makes sense to buy. Considering that the average first time home buyer only stays in the home for four years it may not be the best choice for you. That is because when you do sell, there are costs associated with selling - and not just in terms of the sales commissions to the real estate brokers (which are negotiable, by the way!). Most owners rely on home appreciation to pay those other costs and to provide the down payment and closing costs when they buy their next home. So buying a home when you expect to move too soon is a risk, especially in an uncertain market. The second thing to think about when deciding how to pay for your own property out of college is that if you are not an owner, then you are most likely a renter. Renting as a broad generalization is just burning your money with nothing to show for it when all is said and done.
You are not able to reduce your income taxes by itemizing deductions such as property taxes and mortgage interest. As a renter, you are limited on what changes you can make to your living quarters. Furthermore, generally the easiest way to accumulate wealth is through home ownership. Three out of four people have more equity in their home than assets in retirement plans, stocks, mutual funds, and savings. Though no one can guarantee your property will appreciate, over time it historically does. If you are still uncertain about which path to choose, the red pill or the blue, there are a number of interactive tools such as this “Is it Better to Buy or Rent- calculator,” which was done by the New York Times in April of 2007.
The current housing market has had a flood of foreclosed homes at sometimes dramatically lower prices and this, combined with the Housing and Economic Recovery Act of 2009’s $8,000 First‐time Homebuyer Tax Credit, has made an almost frantic climate of encouraged home ownership among college graduates and other first-timers. You may be surprised at some of the misconceptions people have about how the Tax Credit works; click here to get the full story.
Buying a home is a very serious event no matter how many times you have done it. You may be signing a contract binding you for the next 30 years. Many FTHBs make a few similar mistakes over and over again. They ask too few questions of their lender and end up missing out on the best deal. They do not act quickly enough and let someone else buy the home. They do not find the right agent for them, one who is willing to help throughout the home buying experience. When they have found their prospective home they do not do enough to make their offer look appealing to the seller. And, they do not think in the longer term about the resale of the home before they buy. To make sure you are making the right moves here are a couple of tips to prevent any mistakes or regrets in your home buying transaction.
* Be picky, but don’t be unrealistic. There is no perfect home.
* Do your homework before you start looking. Decide specifically what features you want in a home and which are most important to you.
* Get your finances in order. Review your credit report and be sure you have enough money to cover your down payment and your closing costs
* Don’t wait to get a loan. Talk to a lender and get pre-qualified for a mortgage before you start looking.
* Don’t ask too many people for opinions. It will drive you crazy. Select one or two people to turn to if you feel you need a second opinion.
* Decide when you could move. When is your lease up? Are you allowed to sublet? How tight is the rental market in your area?
* Think long-term. Are you looking for a starter house with the idea of moving up in a few years or do you hope to stay in this home longer? This decision may dictate what type of home you’ll buy as well as type of mortgage terms that suit you best.
* Don’t let yourself be house poor. If you max yourself out to buy the biggest home you can afford, you’ll have no money left for maintenance or decoration or to save money for other financial goals.
* Don’t be naïve. Insist on a home inspection and if possible get a warranty from the seller to cover defects within one year.
* Get help. Consider hiring a Realtor® as a buyer’s representative. Unlike a listing agent, whose first duty is to the seller, a buyer’s representative is working only for you. And often, buyer’s representatives are paid out of the seller’s commission payment.
Between the tax credit and the often low prices of foreclosed homes, college students are reaping the benefits of buying homes, Minn. Realtor® Jesse Godzala said. "It's amazing," Godzala commented. "There are first time home buyers that normally, it would take five to 10 years to get in a home, and in some of these cases, they're getting these homes for 2 percent down or 3 percent down." Prices on many of these houses are so low, that students are buying them and paying their mortgages at a rate of $300 per month, the same price they would be paying for rent. Some foreclosed houses are selling for anywhere from $20,000 to upward of $70,000 - less than their appraised values in some areas. Students are buying these homes in the hopes of selling them for more than what they paid when the market recovers in the near future . Godzala said foreclosures can cost anywhere from $32,000 to $180,000, but most clients are buying those in the $120,000 to $130,000 range.
Godzala also noted that many students have misconceptions about buying homes. He reported that one student looking for a house asked him if first time homebuyers could buy foreclosures because her landlord told her they couldn't. Another student said her landlord told her it takes two to three years to close on a foreclosed home. Both of these ideas are false, Godzala informed us. "Yes, first time homebuyers can absolutely buy foreclosures,". Students are often concerned about financing, but Godzala revealed that there are plenty of lenders who will finance foreclosures. Another question students often ask is if there are any good foreclosures. "I'd say you have to look at five to 10 until you find that one gem,". "A lot of them are really beat up. A lot of them have water damage; they may have cosmetic problems (paint, bad carpet)." So be cautious. "When someone goes into foreclosure there's a history of them not being very nice to their property if they know it's going back to the bank," Godzala said.
To make sure a home is in proper condition, buyers can get house inspections before they buy, which cost about $300 and take about four hours to complete. "I would say anybody these days that buys a foreclosed home without an inspection is looking for trouble because there's little things that I've found where people have sabotaged their house," said home inspector Wayne Sieling. "I've seen headers cut out from beneath steps and I've seen rafters cut in attics, waterlines that have been cut." In short, before you buy, make sure you know what you’re getting into.
Copyright National Association of REALTORS®, Reprinted with permission
Ever Wonder the "True Cost" of a Mortgage?
They are at it again at Zillow.com. First the Zestimate (still makes me think of Zaxby's), then the iPhone search app which has helped more customers than McDonald's does in a good week, and now they have introduced a "true cost" calculation service . Zillow says that this will allow borrowers to figure out how much they will pay in interest and fees over the period they plan to live in the home.
"Borrowers can see how much they will pay in total interest and fees for various loan quotes from potential lenders over a five, 10, or 20-year period," according to Zillow. So instead of going to five different lenders to get a GFE (Good Faith Estimate, now you can do it from the comfort of your Web browser.
Beechwood of Athens, setting a standard in Walkability
Beechwood “Hills” is one of those “Classic” neighborhoods in Athens, Georgia. Classified as being located in the “Five Points/University” section of town, Beechwood is bordered by Alps Road and the Beechwood Shopping Center. As you enter Beechwood Drive you feel as if you have just wandered back into the 1950’s. Immaculate, well manicured lawns, generous lot sizes, and the “admission cost” is much less than that of Five Points. Homes range from the high $100k’s to the high $200k’s which will get you into an FHA loan. Perfect for first-time home buyers, retirees, or anyone in between! Athens-Clarke property taxes generally range from $1500-$3000 on one of these homes.
The Walkscore is pretty strong as well. According to Walkscore.com, Beechwood boasts a score equivalent to the Top 10 most walkable neighborhoods in America! Near by you will find such restaurants as Chic-Fil-A, Longhorns, and Jason’s Deli to name a few. If you need an eye-opener in the morning, a local favorite, Jittery Joe’s is right down the street.
When the milk runs low both Kroeger and Earth Fare (for organically grown foods) are within a brisk walk while the neighborhood is dotted with schools and area parks. A favorite of my family, the Athens-Clarke Library is only about a half mile away, and if you are into shopping then have fun walking to Talbots, Coldwater Creek, Steinmart, and Tigerlily Kids to throw out just a few names. Beechwood Cinemas is also the hot spot to take in a movie after dinner! All within a walk from your front door!
If you are a buyer in our market, these are probably the best buying conditions in 30 years! If you would like to search the Athens MLS please take a look at listings in our “Classic City” today! On this web MLS search solution you can search every listing on the Georgia MLS for the Greater Athens area or in your Georgia town!
Thursday, July 23, 2009
Athens, GA Home Values and House Prices
Posted on May 29, 2009 by hankbailey
According to Zillow.com, the median priced home in Athens, GA
is at $154,661 as of May 29, 2009. The one year change in median home value in the Athens area is up 12.5%. If you are a buyer in our market, these are probably the best buying conditions in 30 years! If you would like to search the Athens MLS please take a look at listings in our “Classic City” today! On this web MLS search solution you can search every listing on the Georgia MLS for the Greater Athens area or in your Georgia town!Source for information; Zillow.com
Athens Home Value Information
Athens National
| Zillow Home Value Index: | $154,661 | $183,861 | |
| 1-Yr. Change: | $17,209 | -$30,290 | |
| Zestimate Per Sq. Ft.: | $144 | $226 | |
| Flips (Sold Twice Within the Last Yr.): | 0.7% | 1.3% | |
| Turnover (Sold Within Last Yr.): | 2.6% | 1.8% | |
| Property Tax: | $1,837 | $2,973 | |
| Median Condo Value: | $117,500 | $193,500 | |
| Median Single Family Home Value: | $166,500 | $208,500 |
Subscribe to:
Posts (Atom)
Posts
