Posts Tagged atlanta real estate
Here are the Prudential Market Updates for Buckhead and Vinings in the month of October:
Sales in Buckhead have dropped month over month and year over year. I believe this is primarily due to decreased inventory, but it is also a seasonal adjustment. As a result with 6 years of inventory available, sales are slowing and inventory is climbing in the the over $2M market.
Vinings remained steady with a much higher increase in sales price. I believe that is primarily due to the higher end homes (at and over $1M) moving again at a great pace. Many of those homes had been on the market for quite a while, but with no new inventory coming on the market, I believe buyers finally picked from what existed versus continuing to wait and hope for what they wanted to come on the market. We had a great flurry of the newer high end homes sell this spring and finally this fall the remodeled high end homes have gone under contract. That could partially be due to the sellers compromising further in price as well.
I’m including more specific Vinings data from another source as well that I find to be interesting.
|Price Range:||$0 – $799,999|
|SQFT Range:||0 – No Limit|
|Property Types:||Residential Detached – All Properties – All Properties|
|Bedrooms:||0 – No Limit|
|Full Baths:||0 – No Limit|
|Half Baths:||0 – No Limit|
|Year Built:||0 – No Limit|
Look at the balancing of inventory to demand that has taken place over the past year in Vinings under $800,000. Inventory has steadily declined and transactions have increased. This is great news as well. It shows us that homes in 30339 that are priced right will sell.
$800k and Up
|Price Range:||$800,000 – No Limit|
|SQFT Range:||0 – No Limit|
|Property Types:||Residential Detached – All Properties – All Properties|
|Bedrooms:||0 – No Limit|
|Full Baths:||0 – No Limit|
|Half Baths:||0 – No Limit|
Notice the volume of sales in April (which were newer construction over $1M) and then last month. I’ve pulled this over the past 2 years to show you the significance in the volume change. There has been pent up demand for the higher end homes, but the remodels weren’t selling this spring and then, as of last month, they are moving. This definitely sends us a message that buyers want Vinings enough to compromise or set their expectations a bit higher on price points. This is great news for us and also indicates a need for high end homes on the market in Vinings again.
As always, let me know if you might be interested in selling as I have buyers that are still looking!
Prudential Georgia Realty has introduce a new mobile app for Android and iPhone! For instructions on downloading it, text TinaH to 404-620-2300. Even if you aren’t shopping, it’s fun to keep up with everything that’s going on in the market. Here are a few of the great features available:
- Best Local Real Estate App for Greater Metro Atlanta
- Listings from all MLS’s
- Sold Properties from MLS
- Recently Rented from MLS
- New Home Properties
- Short Sales/Foreclosures
- Property Scan/Augmented Reality
Download it and let me know what you think of it!
I’m so happy for my clients who are moving to 1956 West Wesley. We just closed last Friday!
As many of you know, Paces Neighborhood has large lots, estate style homes and is my dream location. Earlier this year, I had moved another family to 3111 Ridgewood just around the corner. Although different in style, both of these homes have over one acre lots, pools and fabulous kid friendly terrace levels. We are going to plan something soon so both of these families can meet other friends in the neighborhood. Fortunately, they are both still close to Vinings and I still consider them neighbors!
Come one, come all to the Second Annual Vinings Restaurant Week from Oct 5th-13th.
If you already call Vinings home, live just across the river in Buckhead or over the RR tracks in Smyrna, you are probably looking forward to another great restaurant week. Besides the fact that these are all great restaurants (we’ve tried all of them!), eating locally gives us a chance to run into friends and neighbors while we are out. We will make it a point to visit as many of these restaurants as we can.
Each place will offer fixed price menus – $15, $25 and $30.
These are just a few of the eighteen neighborhood restaurants participating in Restaurant Week! With so many great places to choose from, you’ll find something to suit anyone’s taste including dessert and breakfast/brunch/lunch for you early birds.
If you’ve found this link because you are searching for a Vinings home, this is a perfect opportunity to see what the area has to offer. Grab a friend or come out and make a friend. We looking forward to seeing you there!
For you locals – which of these restaurants is a must-visit? If these places are new to you, which one are you most looking forward to trying?
I’ve recently had a few listings that a few Atlanta real estate agents called “contemporary”, and although the homes themselves would not be called contemporary it seems that anything different than what Atlantans are used to seeing being built by builders around 2005 gets labeled contemporary. I’ve had agents tell me contemporary doesn’t sell in Atlanta.
I want to be the first to disagree and talk about the contemporary trend in metro Atlanta real estate.
When I first started in real estate in 2002, I may have agreed. I saw builders all building the same things – brick and stone with a lot of mixed media in between. The floors plans all had a similar feel.
In 2013, not only do we have a different audience in Atlanta, but also we have a very global influence on our home designs and clients’ desires. Those from NY, California and yes, many places in between have been seeing modern architecture and finishings a lot longer than here in the heart of the South where oriental rugs and draperies seem to be the preference.
I was inspired to write this post this morning after reading an article in my daily Prudential e-news. The article which I’ll post below is about Legos and the simplicity their new design holds.
I find myself starting to move everything in my house to “white” or variations of it. I like the simplicity, the ability to add accents in different seasons and have a new look all the time. Sometimes when life is crazy, the best retreat is to a room that is clean and simple. It’s relaxing to me. I guess that’s the Zen feel that many look for.
Anyway, I hope we continue to see more structures in Atlanta that are “simple” with clean lines, and our children can take the monochromatic Legos and really “create” versus copying the picture off the front of a box. I like the lesson learned here, and I think I’ll find this set for my son for his birthday.
Lego, the Tool of Young Modernists
|By Christopher Hawthorne|
|RISMEDIA, Thursday, August 29, 2013— (MCT)—Over the last couple of weeks, a tiny monochromatic skyline has been growing in my kitchen.Since opening Lego’s new Architecture Studio, my daughters (who are 9 and 4) and I have been putting together, dismantling and redesigning a group of about 10 buildings. We’ve kept the results on display on a shelf above the sink.Because the Architecture Studio includes bricks in just two shades — white and transparent — the buildings we’ve created all seem to be related, at least distantly, to modern architecture. This is a decidedly Corbusian color scheme; as my 9-year-old put it, gesturing in the direction of a house she’d made, “If that was hot pink, it wouldn’t look modern.”Even her barn-like structure with a pitched roof looked as much Cliff May as old-fashioned stable, thanks in part to a transparent ground floor. The limited palette also seems to make the kit more forgiving — nearly any design looks pretty good in all white or the Lego equivalent of all glass (or a mix).Lego has produced a number of architecture-related products, but they’ve tended to be kits to design a single famous building: Frank Lloyd Wright’s Fallingwater, for example, or the Sydney Opera House. The Architecture Studio is closer in spirit to the original Legos, the ones that allow you to build whatever you feel like building.And as Edwin Heathcoate, the British architecture critic, pointed out recently, there’s something to be said for simplicity and open-endedness in toys. Part of that is nostalgia, I think, for a pre-digital age; but you can’t argue with the number of accomplished architects who talk about playing with Legos or wooden blocks as a formative experience. In that sense it’s surprising Lego didn’t release a set like this years ago.
The Architecture Studio comes with a pretty thick book featuring interviews with (and design advice from) architecture firms, including Tokyo’s Sou Fujimoto and the Swedish office Tham & Videgård. But it’s as much a collection of conceptual essays on the nature of architectural play as instruction manual — and to be fair, this is a product pitched at a target audience older than my kids, really teenagers and up.
I decided I liked the limited color scheme: It made the ungainly buildings I put together seem to come from the same architectural family as the ones the girls made, even if the shapes and sizes were quite different. I suspect more than a few kids, though, will open the box and immediately wish for brighter colors.
As I thought back on the time we’ve played with the set, I realized something surprising: The only time the three of us spent a sustained period of time using it together was right after we first took it out of the box.
The 1,200 pieces in the set come all mixed up in a bunch of small pouches. Before we built anything we decided to sort them by type as we all sat on the floor. That took a full hour. It was strangely meditative. A rare quiet descended on the house as we tossed the little bricks into growing piles.
I’m pleased to announce my new affiliation with Prudential Georgia Realty. As of this Monday I’ve made the transition and am working at getting new listings converted as I post this.
There is something exciting going on at Prudential! On December 10th we will become Berkshire Hathaway Georgia Properties. Below is a video to give you an idea of why the conversion and the new signage.
I’m thrilled to be entering the largest network of agents in the state of Georgia and bring this fabulous brand to Buckhead, Vinings and Smyrna. You will see my signs converting to Prudential this week and in December the Cabernet signs will appear. More to come of this fabulous affiliation but I’m still learning them as well.
Check out this video!
Here’s my contact info (email and phone number are still the same!):
Prudential Georgia Realty – Buckhead Office
(404) 931 – 3944
We’re doing the happy dance here at the office – I have my listing at 3849 Brandy Station SOLD! It’s a lovely French Provincial estate in Vinings. It was redesigned from top to bottom in 2007 by Linda McArthur and has over 7000 square feet of space.
2095 Cooper Lake Drive SE, Smyrna 30080
So much quality in this custom designed home by Norwood Architects.
High end appliances, detailed cabinetry and stone work throughout. Elevator access to all levels. Perfect for families with a sitting room off the bedrooms for family use. Great open public entertaining spaces suitable for large crowds. Three-car garage and guest suite on lower level and fabulous media room. Six bedrooms, five full baths, one half bath. Over 6,000 square feet.
Offered at $975,000 by Tina Hunsicker. Click here for more photos and information about this home for sale.
It’s already January 8th and I’m finding a moment to reflect on what trends I saw in the Atlanta real estate market last year and what (in my humble personal opinion) will be happening in 2013 with our housing industry and more specifically in my market areas of expertise – Vinings, Buckhead and Smyrna.
As each area of Atlanta seems to have a different feel and velocity, I’ll approach the areas separately. I’ll provide the statistics to back up my opinions on another date as I post them frequently and they only tell one part of the story. I like to say what I see from a grass roots perspective. I know real estate management and even many other bloggers like to paint a rosy picture to get people to “buy” houses, I tend to be much more pragmatic and look at things with an analytical eye, as a homeowner and a mother as to what my clients are feeling and needing.
I’ve said this all year, but I believe even more so now. Inventory is low and if you want to sell it is a good time.
I do feel pricing in the Vinings real estate market is still above what many are expecting and I think quite a bit of the inventory will continue to sit unless its adjusted back to about 2000 levels. We were at 1998 levels, so this is good news.
Unfortunately, we still have many people pricing at 2005-2007 levels and it just isn’t going to work. Yes, Vinings has great county services, much lower tax levels, it’s a charming Village to live in etc., but pricing can’t be higher than its neighbor across the river in zip code 30327.
For the Vinings area, I have investors and builders engaged again. And although they don’t have spec home interest, there is a pent-up demand for new homes specifically for empty nesters wanting to get rid of the Buckhead taxes and their $3M and up homes. Families come to Vinings once they are in private school, but since private schools are eating up alot of their incomes, they tend to look for the more reasonably priced homes, or by Vinings standards, almost starter homes in the $500,000 and $600,000 ranges.
Back in the peak, many families with children in Atlanta’s private schools were buying the newer construction homes for $1.5M, but I’ve seen several families that were over extended go into foreclosure and I think recent purchasers have been much more prudent. (I have clients still waiting for the newer construction foreclosures, but I think that bus left the station.)
There will continue to be deals like in any market, but very rare and far between – and we are are seeing those get bid up when they come on low priced. I just recently found a fabulous deal and it never hit the market, and that’s what I predict will continue to happen with deals as they become increasingly rare.
I’m thrilled to say that the higher tier is finally coming back. I believe this demand is fueled primarily by bargain hunters and we won’t see the volume of $3M and up transactions that we used to.
There is definitely a building trend going on in Buckhead as older homes are not moving. People that are willing to spend the mulitple millions of dollars want something with high ceilings, open floor plan, basements for kids or storing stuff. I’d say almost 90% of the high end transactions are homes that show like “new” even if they aren’t new. They have to be in A+ condition to command the big bucks.
The properties with land, meaning over 2 acres, are tough to find as well. There is definitely a group of people in the under $2M category that are looking for something with land and will pay the higher taxes to have that lifestyle….but there just isn’t any inventory.
One of the ways I gage “demand” is the number of emails that circulate around my firm for people with buyers who can’t find anything that’s in the system. It used to be about once every couple of weeks we’d get a “buyer needs” email stating they’d looked at everything on the market and if you have anything that you haven’t listed yet to let them know. Now it seems like we receive one of these emails daily.
I also gauge the views online on my listings to see what to expect in showings and there was a sharp spike at the beginning of the year, so I know what’s coming around the corner – showings. Which leads to sales.
The price point that’s hot for Smyrna is lower than it historically was. Builders bought foreclosed lots at a deep discount and are putting up new homes in the $300,000 price point, so selling things over $500,000 is tough. When people start getting to the half million dollar price point they seem to have graduated to inside the perimeter. The exception to that rule are those that need more space or really want newer homes with higher ceilings. They’ll still pay over $500,000 to live in 30080.
I wish I could convince more empty nesters to consider the small step to OTP. They are very particular and choosy in their neighborhoods as they are afraid their Buckhead friends won’t visit them. So only a few neighborhoods remain acceptable to them.
I think we need more upscale neighborhoods just outside of the Perimeter and I propose it goes in the Vinings Heights neighborhood where all the ranches are as its SO close and there is still land there. Unfortunately, those ranches keep getting fluffed up and are becoming too expensive to tear down. Time will tell there as that neighborhood is such a great location to stay as depressed as its been. I think more young people would do well to tear those down, or continue to “fluff” to get the great lots just on the perimeter.
I see the lower inventory levels bringing prices up slightly, but I don’t think buyers will jump up in their price point as much as sellers are thinking. If you want to sell it will be easy if priced correctly. If you want to buy, you may have to pay a little more than people did a year ago, but we are still at good low levels. Interest rates are still so incredibly low you have to take advantage of them if you’ve been sitting on the sidelines.
Let me know if I can help! Things are hopping in Atlanta and I’m so glad to be busy, and you never know, I may have a buyer in my back pocket just waiting for your house!
Prudential Georgia – Buckhead Office
It’s nice to see listings start to sell, sellers being happy to move on, and buyers getting a home they can cherish for years. Here’s a listing of mine coated at 3225 Laramie Drive in Vinings that is a pending sale, set to close mid-May.
The market is picking up – we’re seeing reducing numbers of homes for sale and more buyers coming out to see what’s on the market! Click here to search for homes for sale in metro Atlanta….and let me know how I can help you in your next real estate transaction.