About Jackson County, GA

In Jackson County, GA, for the week ending Aug 16, 2009 the real estate market looks like this:

There are 322 active listings of which 179 are residential, 11 are farm and land. The listing number is down 13 from the previous reporting period.

There are 53 listings under contract, up 8 from the previous period.

During the week of Aug 10 - Aug 16, 2009 there was 1 closed residential transaction and no closed farm & land transactions in Jackson County.

For more information on Jackson County, GA or if you are interested in buying or selling your home there, please call me at 706-207-5290. Or you can click here to email me with your inquiries. To search for homes in Jackson County please visit my website www.theathensrealestatepage.com.

Note: All data is taken from the Athens Area Association of Realtors MLS system and accurate as of one day after the reporting period.

People ask me all the time...
How's the market? Are people buying? Can someone actually sell their home in this market?

First, my 2 cents worth...There have definitely been some encouraging signs of late and this summer has been a busy time, but we're still a long ways from a "healthy market." Are we "at the bottom?" That is the million dollar question. Many economists and prognosticators have boldly claimed that the worst is behind us and real estate is "on the way back up." My personal opinion - no. I think we're certainly at or near the bottom, but I believe the bottom will be around for a while. I think prices will continue to drop to some degree, although I certainly believe they will drop much less rapidly than they have over the last 6/12/18 months.

Here's the main difference I've witnessed between this winter and this summer...
This winter, a home that was listed in decent condition at a rock-bottom price may still sit and sit and sit on the market as few people were actually signing on the bottom line and purchasing homes. This summer, a similar home is under contract in 15 days or less (often with multiple offers). Does this mean there's huge demand/competition for decent homes? Not necessarily. However, if the home is well-priced, in good condition, and in a good location, then yes, these homes are in high demand.

It's a beauty competition out there. Those with the looks, talent and charisma get the prize; everyone else falls by the wayside. Do we remember the names of the 1^st runner-ups in the Miss America contests or the teams that lost the Superbowl/NBA Finals/World Series? Probably not. Will a 2^nd tier home "win the prize" and receive offers (offers worth consideration, anyway) in our market? Probably not. Buyers have gotten very, very, very picky (as well they should). If they find a home with so much as a beauty mark (unless the home is priced 20% or 30%...or more...below market value), they're likely looking elsewhere. Why wouldn't they?

The biggest problem I see with this...the average seller just doesn't understand that selling their home in today's market requires nothing less than a minor miracle. Most sellers just can't (or don't want to) understand that their competition isn't their neighbor down the street who "doesn't have as nice a yard" or "doesn't have a half-bath on the main level." Their true competition is the 100 foreclosures/short sales/corporate-owned properties within a 5-mile radius that are 30% cheaper.

Secondly, in addition to my personal experience/opinion, as you who read my blog already know, I like to show you the cold, hard facts and let you make your own judgments. June and July have actually been very good months relative to the market of late. This is certainly encouraging, but we've still got a ways to go...

OK - on to the facts...

The National Association of Realtors reported that pending home sales rose in June for the fifth straight month in the US. This was the 5^th consecutive month that pending home sales rose. A rise in five consecutive months has not happened in 6 years (July 2003). The results were far better than analysts expected.

Also, for the first time in five years, home re-sales have risen for three months in a row, increasing almost 4 percent in June. "The housing market is healing and the patient is getting healthier at an accelerating pace," said economist Joel L. Naroff, president of Naroff Economic Advisors Inc.

Here in the South, we have experienced the biggest increase. The pending home sales index jumped 7.1% to 100.7 in the South (compared to only 2.9% to 100.4 in the West, 0.4% to 81.2 in the Northeast, and 0.8% to 89.9 in the Midwest).

click here to see the entire article

Sales of new homes also posted their largest monthly gain in nearly eight years in June. The Commerce Department reported that sales of new single-family homes rose 11% in June (economists only expected a 3% increase).

click here to see the entire article

Remember, the 1^st time homeowner tax credits (and other credits) will be expiring soon. Click below for a current run-down of the available credits...

And finally, a word of caution regarding the tax credits. If you claim eligibility, you better make sure you're on the up-and-up (because the IRS is going to do their part to make sure you are)...

see the article here

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Gwinnett Daily Post wrote a small article today about the Squillance family and how more and more people are deciding to make the move to a "active" adult community. While these are popular in Florida there are very few communities like this in the Metro Atlanta area. The most popular community, Village At Deaton Creek, is not only the most popular Active Adult Community, but it's the most popular, best selling community in Georgia, period.

"It was very, very easy for me (to leave)," Squillace said. "It was more difficult for my wife."

So he and his wife Elayne sold their home in the Connemara subdivision in Snellville and moved to Hoschton. There, they settled in The Village At Deaton Creek, a subdivision for senior lifestyles, leaving behind the home in which they resided for more than 20 years and put three kids through Brookwood High School.

Their friends at Connemara threw them a going away party and joked about how far away they were moving. But it's a trek more and more people their age are making. As the population ages - the Atlanta Regional Commission's Lifelong Communities Study says that by 2030, 20 to 23 percent of the metro area's population will be over age 60 - those people are also becoming more active. And moving to places where others are active as well.

Squillace is 66 and says, "I've never been as busy as I am since I retired. It's actually not a joke. People have asked me to do things and I haven't had time."

This is not your father's retirement. Squillace stays busy with projects, trips, children and grandchildren. But he also stays active with bocce, senior tennis, bowling and trivia. Then there's softball. A self-professed softball fanatic, Squillace is not just a player in his league (a pitcher, of course) - he's the commissioner. And the league isn't just some pick-up deal. The teams are sponsored - just like you'd see in little league. "It's great," Squillace said of the softball. "It's people the same age getting out and still having fun. It's done socially as much as competitively. But it is competitive."

In Jackson County, GA, for the week ending Aug 2, 2009 the real estate market looks like this:

There are 335 active listings of which 175 are residential, 11 are farm and land. The listing number is down 42 from the previous week.

There are 45 listings under contract, up 1 from the previous week.

During the week of July 26 - Aug 2, 2009 there were 3 closed residential transactions and no closed farm & land transactions in Jackson County.

For more information on Jackson County, GA or if you are interested in buying or selling your home there, please call me at 706-207-5290. Or you can click here to email me with your inquiries. To search for homes in Jackson County please visit my website www.theathensrealestatepage.com.

Note: All data is taken from the Athens Area Association of Realtors MLS system and accurate as of one day after the reporting period.

In Jackson County, GA, for the week ending July 26, 2009 the real estate market looks like this:

There are 377 active listings of which 187 are residential, 12 are farm and land. The listing number is up 2 from the previous week.

There are 44 listings under contract, down 2 from the previous week.

During the week of July 20 - July 26, 2009 there were no closed residential transactions or farm & land transactions in Jackson County.

For more information on Jackson County, GA or if you are interested in buying or selling your home there, please call me at 706-207-5290. Or you can click here to email me with your inquiries. To search for homes in Jackson County please visit my website www.theathensrealestatepage.com.

Note: All data is taken from the Athens Area Association of Realtors MLS system and accurate as of one day after the reporting period.