Archive for category Data and Statistics
3.8% Tax: What’s True, What’s Not
Posted by thunsicker in Data and Statistics on December 6, 2012
I want to provide some true data here as it relates to sales tax and purchasing or selling a home.
I have received several emails where people thought there was a Federal Sales tax going into effect which is attached to the new Health Care Reform bill as a way to pay for Obamacare.
First off, there is NO such thing as a Federal Sales tax. Period. Ever. All federal monies are recieved via the IRS and our annual filing of forms.
Here are some articles that explain what is really happening. For 90% of sellers there will be no impact as you have a personal residence exclusion to capital gains (if by chance you have a gain!), but investors need to pay attention and read the following articles carefully.
From the National Association of REALTORS®
The 3.8% Tax and Health Care Reform
3.8% Tax: What’s True, What’s Not
From Politifact
Truth-O-Meter Pants on Fire
Buckhead (30327) real estate market update: June 2012
Posted by thunsicker in Buckhead, Data and Statistics, State of Real Estate Market on July 25, 2012
The market trend is continuing that we see in the Vinings market into the Buckhead real estate market as well. Decreasing inventory and rising sales with the average selling price going up!
Within the $200,000 to $650,000 price point, sales have been steadily increasing and we’re in multiple offer situations quite frequently. Inventory is trending downward again with sales continuing up. Good news for all!
The stats are slightly improved in 30327 from $400,000 and up and it looks like inventory and sales increased slightly. Year over year numbers show improvements, but I think this could vary with an analysis of a tighter price point.
Finally I had a fellow agent say to me the other day that she thought luxury sales were up. I think we’re seeing things under $2,000,000 continue to sell well, but over $2M it still remains soft. Inventory remains high and prices continue to soften within the luxury market. Of course, this pie can be sliced in various ways, but I just wanted to pull data a few different ways to see if what I feel in the market is what is happening statistically. If you’d like me to pull some data specific to your price point and area, just email me and I’ll do a custom report for you.
Number of Homes For Sale vs. Sold (Apr. 2011 – Jun. 2012)
Buckhead/Atlanta – 30327
Price Point – $200,000 to $650,000
Number of Homes For Sale vs. Sold (Apr. 2011 – Jun. 2012)
Buckhead/Atlanta – 30327
Price Point – $400,000 and up
Number of Homes For Sale vs. Sold (Apr. 2011 – Jun. 2012)
Buckhead/Atlanta – 30327
Price Point – $2,000,000 and up
Vinings (30339) real estate market update: June 2012
Posted by thunsicker in Data and Statistics, State of Real Estate Market, Vinings on July 25, 2012
Interesting data again about what we’re seeing in the Vinings real estate market – the area of Atlanta in zip code 30339.
Inventory is down with sales on the rise, across all price points! At the $300,000 price point this reflects what I have personally seen in the market and continues the trend from last November. The higher price point in Vinings is finally having steady sales after next to nothing in 2011. These statistics look more dramatic due to the low volume, but it is positive news!
Click here to see what homes are for sale in Vinings, 30339.
Number of Homes For Sale vs. Sold (Apr. 2011 – Jun. 2012)
Vinings, Georgia – Zip Code 30339
Price Point – $300,000 and up
Number of Homes For Sale vs. Sold (Apr. 2011 – Jun. 2012)
Vinings, Georgia – Zip Code 30339
Price Point – $800,000 and up
Radon levels in Georgia
Posted by thunsicker in Data and Statistics, Home Maintenance on March 20, 2012
I found these charts below about radon levels in Cobb and Fulton Counties and found them interesting. There are also websites that show the areas with the highest levels. Of course, mitigation systems remain a way to address this and I still have all my clients test for radon and remediate prior to purchase of a home.
I continue to get higher radon readings all throughout Atlanta in the fall than I do other times of the year.
Radon is a radioactive element that is part of the radioactive decay chain of naturally occurring uranium in soil. You can’t see, smell, or taste radon gas, but it can kill you. Unlike carbon monoxide and many other home pollutants, radon’s adverse health effect, lung cancer, is usually not produced immediately. Thus you may be exposed to radon for many years without ever suspecting its presence in your home.
Radon levels for Cobb County. The average indoor radon levels of Cobb County, as determined by radon test results from Air Chek, Inc, is 1.7 pCi/L
Fulton County Radon Levels. The average indoor radon levels of Fulton County, as determined by radon test results from Air Chek, Inc, is 2.3 pCi/L
Radon has been found in homes throughout the United States. It typically moves up through the ground to the air above and into your home through cracks and other holes in the foundation. How does radon enter your home? Houses act like giant chimneys. As the air in the house warms, it rises to leak out the attic openings and around the upper floor windows, creating a small suction at the lowest level of the house, pulling the radon out of the soil and into the house.
Fortunately, there are other extremely effective means of keeping radon out of your home. Some houses have tested as high as 2,000-3,000 pCi/, yet there hasn’t been a single house that could not mitigate to an acceptable level. Mitigation usually costs between $800-$2500.
Radon is the second leading cause of lung cancer in the US, after tobacco smoking. It is the leading cause of lung cancer in non-smokers, and kills more than 22,000 people each year, 600 of them in Georgia. Protect your family from this dangerous carcinogen. Test your home today. You can prevent and reduce entry of radon into your home!
Buckhead (30327) real estate market update: February 2012
Posted by thunsicker in Buckhead, Data and Statistics, State of Real Estate Market on February 16, 2012
The market trend is continuing that we see in the Vinings market into the Buckhead real estate market as well.
Decreasing inventory, average selling price is going up which is good considering the inventory is priced higher than what the buyers are looking for.
We remain steady at a year of inventory in Buckhead. If this trend continues we’ll be approaching a change in the dynamics of the market.
I had a conversation with an appraiser yesterday to figure out how we’re going to bridge the gap at what buyers perceive the value at and what the appraisers will appraise for. His comment is that the homeowners are going to need to take the risk to purchase over appraised value as the banks will not.
So the only way to reverse this trend is for cash buyers to put more cash into the transaction. We’ll see how this plays out over the next several months.
I’m a half full kind of person, so I hope this positive trend continues despite the national news!
Number of Homes For Sale vs. Sold (Nov. 2010 – Jan. 2012)
Buckhead/Atlanta – 30327
Average Price of For Sale and Sold (Nov. 2010 – Jan. 2012)
Buckhead/Atlanta – 30327
Months of Inventory Based on Closed Sales (Nov. 2010 – Jan. 2012)
Buckhead/Atlanta – 30327
Vinings (30339) real estate market update: February 2012
Posted by thunsicker in Data and Statistics, State of Real Estate Market, Vinings on February 16, 2012
Interesting data again about what we’re seeing in the Vinings real estate market – the area of Atlanta in zip code 30339.
Inventory is decreasing, but it appears the demand for homes in Vinings is towards the lower end and the inventory is towards the higher end.
Based on what is under contract currently we may see this trend change in the next month but at least we’re seeing a continued decrease in inventory.
Click here to see what homes are for sale in Vinings, 30339.
Number of Homes For Sale vs. Sold (Nov. 2010 – Jan. 2012)
Vinings, Georgia – Zip Code 30339
Average Price per SQFT (Nov. 2010 – Jan. 2012)
Vinings, Georgia – Zip Code 30339
Average Price of For Sale and Sold (Nov. 2010 – Jan. 2012)
Vinings, Georgia – Zip Code 30339
Months of Inventory Based on Closed Sales (Nov. 2010 – Jan. 2012)
Vinings, Georgia – Zip Code 30339
2011 real estate trends in Buckhead’s zip code 30327
Posted by thunsicker in Buckhead, Data and Statistics, Preparing Your Home For Sale, State of Real Estate Market on January 25, 2012
In compiling statistics for Buckhead’s most elite zip code, 30327, it is harder to elaborate on each house sold since the volume is so much higher. I have a few comments here and then charts below with more information about real estate trends in Buckhead during 2011.
- First and foremost as I’ve mentioned before, inventory continues to decrease in Buckhead.
- Even though prices are still soft, but not declining further, it looks like we are headed into a much more stable market as inventory levels are under 12 months.
- The trend is decreasing for foreclosures and we’re seeing less and less of them.
- The other interesting thing to note is that where the average price point is for homes that are for sale is almost double where the average price point for what is selling; that tells us something too.
The product on the market is priced higher than where the buyers are.
With mortgage rates under 4%, around 3.75% right now, people can trade up in their homes if their current house will sell. The problem is that if they sell their current houses at where the market demands they are losing equity and don’t have the 20% to put down on the next house and most Jumbo mortgages are still requiring 20% down.
The exception to that scenario is for doctors. I’ve sold quite a few properties to doctors this year and they can still get 95% loans with certain conditions. So if you’re reading this and you are a doctor, it is the perfect time to buy!
For the Atlanta real estate market to turn into a sellers market we’d have to get inventory levels to about 6 months. However, at various price levels I’m receiving emails daily asking if I have anything coming on the market that isn’t on yet. These inquiries tell me that there’s pent up demand and good homes that are priced to the current market will sell pretty quickly.
I’m glad to pull specific neighborhoods, streets, price points, etc. for you to look at homes that are listed for sale in the Buckhead market (or anywhere in Atlanta!) if you’re interested.
I know most of us don’t like what our houses are worth today and if you’re still wondering, I can run a Case Shiller index for you, pull neighborhood comps etc. It’s usually not as bleak as Zillow suggests!
Homes sold in Vinings (30339) in 2011
Posted by thunsicker in Data and Statistics, State of Real Estate Market, Vinings on January 23, 2012
Below is a chart featuring homes that sold in Vinings (Atlanta, GA) in zip code 30339 for 2011.
In Vinings last year almost 30% of the sales were bank owned or estate sales.
This trend continued to push the average sales prices of homes in Vinings down.
| Vinings Address in Zip Code 30339 |
SOLD Price | Date | Type |
| 3173 Laramie Drive | $150,000 | 2/16/11 | Estate |
| 4275 Lansdowne Drive | $172,500 | 7/8/11 | Bank Owned |
| 4500 Rebel Valley View | $312,000 | 4/7/11 | Bank Owned |
| 3360 Ridge Point | $349,900 | 7/28/11 | Bank Owned |
| 3680 Tanglewood Drive | $380,000 | 3/18/11 | |
| 4251 Brookview | $460,000 | 3/24/11 | |
| 3217 Teton Drive | $471,500 | 9/9/11 | |
| 3324 Cochise | $495,000 | 5/6/11 | |
| 3026 Farmington | $502,000 | 4/13/11 | |
| 3333 Cochise | $528,000 | 11/17/11 | |
| 3356 Cochise | $550,000 | 3/15/11 | |
| 4129 Brookview | $575,000 | 8/15/11 | |
| 3237 Cochise | $575,000 | 5/9/11 | |
| 3642 Cochise | $600,000 | 12/16/11 | |
| 3221 Circle Oaks | $669,000 | Not Listed | |
| 4323 Orchard Valley | $675,000 | 11/28/11 | Estate |
| 3580 Grove Gate | $725,000 | 2/25/11 | |
| 2861 Bakers Farm | $800,000 | 6/17/11 | |
| 2887 Knob Hill Drive | $866,531 | 4/25/11 | Short Sale |
| 2889 Bakers Farm | $873,000 | 4/18/11 | |
| 4735 Polo Lane | $900,000 | 6/13/11 | Bank Owned |
| 3030 Loridan Way | $950,000 | 11/21/11 | Bank Owned |
| 3589 Grove Gate |
$950,000 | 2/10/11 | |
| 4739 Polo Lane | $1,260,000 | 1/27/11 | Bank Owned |
| 2787 Lansdowne Lane | $1,350,000 | 4/7/11 | Bank Owned |
| 3025 Bakers Meadow | $1,750,000 | 1/4/11 |
I do see activity picking up and while I expect the volume of transactions to increase, I do not foresee home sales prices increasing for 2012.
There is a demand for properties right now, so if you have the stomach for the new prices ranges it is possible there is a buyer out there! Click here to see the homes for sale in Vinings currently.
I’ll compile the Buckhead 30327 soon!
Fulton County Tax Assessments Under Scrutiny – Again
Posted by thunsicker in Buckhead, Data and Statistics, State of Real Estate Market on October 11, 2011
As many of my Buckhead friends know, property valuation has been an issue in determining taxes in Buckhead for awhile. I have access to professionals that will fight your assessment for 1/3 of your first year’s savings on your taxes. As of April 2011, your taxes should not be higher than what you paid for the property even if it was a foreclosure or short sale. Let me know if I can help. - Tina
By Johnny Edwards, The Atlanta Journal-Constitution
The Fulton County tax assessment situation has another flair up.
Some Fulton County residents have been egregiously overbilled for property taxes because the county, contrary to a new state law, appraised their houses for more than their 2010 sale prices.
The scope of the problem is still being determined, but it could make for another embarrassment for a tax assessors office that has struggled to keep up with legislation enacted this year overhauling property assessment and appeals processes in the wake of the real estate bust.
And it has the Senate majority leader fuming.
“I’m flabbergasted. I’m frustrated,” said Sen. Chip Rogers, R-Woodstock, who sponsored Senate Bill 346 and is pushing for further changes in the tax system next year. After seeing evidence that Fulton has put tax values on some homes at twice their sale price, Rogers said he’s now mulling penalties for counties that stray from the law.
“This is a problem that doesn’t seem to be correcting itself,” he said.
One of the provisions of SB 346 limited 2011 tax values to the level of 2010 sales. Exceptions are allowed if, after a sale, an owner undertakes new construction or makes major repairs or renovations.
Allyne Bolton bought a new house in unincorporated south Fulton for $147,190 in June 2010. Though she’s had nothing done but an interior paint job, the county gave her a tax value of $308,700.
Her tax bill totaled $4,112, which she says she can’t afford. Had the house been valued at her sale price, she would have owed about $1,640.
“It’s ridiculous. It’s unfair,” said Bolton, a travel agent out of work since January. “The law says they can’t assess me for more than what I paid for the house, and they’ve assessed me at twice what I paid for the house.”
It’s the latest in a succession of errors and oversights by the assessors office this year, some widespread, some affecting an unlucky few.
Burt Manning, the county’s chief appraiser, said Fulton residents who believe they have been wrongly appraised should call his office.
“We’re certainly investigating, and we’ve only found a few that need to be fixed,” he said.
Please click here for the entire article about the Fulton County tax assessments from the Atlanta Journal Constitution.
Also, I wanted to provide the Georgia law pertaining to the revenue and taxation of ad valorem taxes in our state. Please click here to see the entire law.
Click on the image of the Georgia law for the full-size PDF version.
Real estate trends in Buckhead’s 30327 zip codes
Posted by thunsicker in Data and Statistics, State of Real Estate Market on August 17, 2011
For the 30327 Buckhead market the trend is very different than the Vinings real estate market in 30339. What we’re seeing is consistent sales that are the same as last year, not down like Vinings.
The interesting thing about the Atlanta zip code 30327 in Buckhead (and I know this to be true from my clients who are looking to purchase) is that the inventory is really low.
We don’t see many new homes for sale in Buckhead entering the market and the inventory is getting eaten up so prices have stabilized more. I fully expect to see prices begin to increase slightly in 30327 as demand continues to increase and inventory does not.
Is now a good time to move up to a larger, better home? It may just be.
If a client is trading up this is still the time to do it, but for those downsizing or having to participate in this market for relocation purposes it still remains tough.
Statistically we are back to 1998 pricing. So if you think your house was worth “x” in 2005 that’s not the value anymore. Think back to what it was worth in 1998 and that’s what you’ll most likely get in today’s market.
I also run a Case-Shiller index for my clients to help exhibit what that value most likely is for their home.
Give me a call or text to 404.931.3944 or email tinahunsicker@hotmail.com if you’d like me to provide this free analysis for you.
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