Grayson, GA

This data was retrieved from the FMLS database and limited to detached residential properties that were for sale in Grayson, GA during 2009, and was limited to those homes in the "luxury" market, or $350,000 and higher.

In this market probably 99% of the properties offered had a full, daylight basement. Typical for our market in the price range. There were just a handful of slab and crawl space homes contained in the dataset.

Homes listed in Grayson during 2009 that did not sell and remain active at this time: 52

Average list price of luxury homes for sale in Grayson that were first offered for sale in 2009: $478,896

Luxury homes in Grayson listed during this time period averaged 5 bedrooms, 4 1/2 baths, and the average build year was 2001.

There were 10 homes in the luxury real estate market in Grayson for sale during 2009, going into 2010, that remain "under contract" at this time.

The average list price of pending sales in Grayson's luxury home market during this period was $452,300. The average year built for homes under contract was 2006.

During 2009, in the Grayson residential real estate market for luxury or higher end homes, there were 72 listed properties that expired without selling. The average list price was $569,643. The average year built of homes unsold during this period was 2002.

31 owners of luxury homes in Grayson, GA decided at some point during 2009 to list their property for sale and later withdrew the listing without sale. The average sale price of luxury homes in Grayson that were withdrawn from the market in 2009 was $509,109 and the average build year was 2001.

Now, for the good stuff!

There were 37 luxury or high-end homes for sale in Grayson, GA in 2009 that sold before the end of the year.

Of those 37 luxury home sale in Grayson, GA for 2009, all of them had a full, daylight basement except two homes, and those homes were priced $340,000 to $399,000, all in the Georgetown Commons subdivision. These homes are listed as having crawl spaces.

The average luxury home sold in Grayson during 2009 had 5 bedrooms, 4 1/2 baths, included a full, daylight basement, and had an average build year of 2004.

The average for high end homes in Grayson, GA, listed and sold during 2009, was $476,344

The average listed price for high end or luxury homes in Grayson, GA, listed and sold in 2009, was $460,268. This statistic represents the price at which the homes were listed at when they actually sold, not their "original" listed price.

Finally, the average sale price for a luxury or high end home in Grayson, GA in 2009 was $400,740. High end or luxury homes in Grayson, GA took an average of 146 days on the market before sold/closed.

When you compare the average "original list price" of $476,344, to the average "sold price" of $400,740, the difference is quite dramatic and not typical for this area at the height of the real estate market.

Overall, construction quality for high end or luxury homes in Grayson, GA is very good to excellent. Competition has been fierce in recent years and builders here understand what it takes to be competitive and attract buyers in this higher end market. Granite, custom cabinets, Hardwood floors, lots of built-ins, 3 car garage, full basements - many times completely or partially finished.

The good news for luxury or high end homeowners wishing to sell in Grayson in 2010: there is an active market for your home in Grayson, GA.

The good news for buyers of luxury or high end homes in Grayson, GA, for 2010: there are still many luxury homes to choose from and prices have probably never been better! Buying a luxury home in Grayson, GA in 2010 could be the best decision you ever made!

If you have specific questions or wish to learn more about luxury homes for sale in Grayson, GA, please contact me at slmrealestate@comcast.net or 404-457-8089. I will respond to your inquiry promptly and hope to be of assistance with your real estate needs in and around Grayson, GA.

Stephanie McCarty, REALTOR, ABR

visit my website at www.mysouthhomes.com and search the entire Georgia MLS

For residential detached properties:

During the month of January, 2010, for the area encompassing Snellville, Grayson, Loganville, Lilburn, part of lower Lawrenceville, in Gwinnett county, here are some market stats:

There were a total of 732 new listings during the period

The average list price was $187,042

During the period, there were 256 homes placed under contract with a pending sale

The average list price for pending sales was $152,465

There were 120 homes sold

Average sale price was $134,741

The sale price/original list price ratio was 97.79%

Average days on market before sold was 78

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Let's compare this data to last year - same areas, for January 2009:

total of 1002 naew listings during January 2009

average list price was $209,247

Pending sales, homes placed under contract, totalled 313

average list price was $169,975

There were 181 homes sold in January 2009

The average sale price in January 2009 was $147,276

The sale price/original list price ratio was 94.30% in January 2009

Average days on market for sold homes in January 2009 was 116 days

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Analytical observations:

considerably less homes sold/closed in January 2010 than in 2009, and far fewer were placed under contract during the same period compared to last year.

The falling prices are reflected in the data but thankfully sale price/original list price ratio is improving - now up to 97.79% which tells me that sellers and their agents are getting more realistic on pricing and it's paying off for them in the long run because average days on market has dropped dramatically from 116 days last January, to 78 days in January 2010.

Although prices have obviously fallen in this area it would appear that the data supports an encouraging outlook - homes are selling faster and for closer to asking price. The total number of sales was lower but there are several factors that can account for that, not the least of which is the terrible weather we had in January - it was REALLY cold here! Couple that with the large number of buyers who rushed to close their sale by the 11/30 deadline last year, and it makes sense to me that December 2009 and January 2010 would have to reflect that "false" deadline having removed many buyers from the market who might have otherwise waited until after the holidays.

The most interesting fact revealed in the January data compared to last year is that although the average list price fell considerably, the average sale price doesn't reflect the same percentage reduction. Very interesting. . .maybe a sign that prices are starting to level off which bodes well for sellers and encourages buyers to resist attempts to "time the bottom" of the market.

If you have specific questions about your neighborhood, school district or other real estate related inquiries, don't hesitate to contact me directly at 404-457-8089, or by email at slmrealestate@comcast.net. I will respond promptly to your inquiry and would be happy to assist you.

Stay warm out there!

Stephanie McCarty, REALTOR,ABR

visit my website to search the Georgia MLS at www.mysouthhomes.com

Saturday, December 5, 2009
10:00 a.m. - 6:00 p.m.

The Grayson Arts and History Center will present the 3rd Annual Grayson Christmas Tour of Homes. Five homes in our community will be showcased and all adorned in holiday splendor. Each home is very inviting and warm and offers its own unique decorating and architectural style.

"We are excited not only to showcase our citizens homes, but our City as well", says Barbara Hinkle, Director of the Grayson Arts and History Center. All proceeds from the Tour will benefit the History Center and the Grayson Historic Preservation Society. By purchasing a ticket to the Christmas Tour of Homes, everyone is helping to preserve Grayson's past for the benefit of future generations.

Tickets are on sale now and can be purchased at Grayson City Hall, The Grayson Arts and History Center and the Grayson UPS Store. In an effort to eliminate congestion in the various subdivisions, transportation to all homes will be provided. Private cars will not be allowed on the tour. Parking will be available at the Arts and History Center, Grayson City Park, City Hall and other marked areas. These are private homes and may not be wheelchair accessible, may contain stairs or be difficult for those with physical limitations.

via www.cityofgrayson.org

Search for homes for sale in Grayson

Of course you are... everyone is.  Maybe not everyone, but there are a lot of people that are looking for good deals in real estate in Gwinnett County, GA, during a buyer's market... which is basically what we are in right now.

While looking for something semi-related, I ran across some interesting and possibly good deals out there for the right buyer.  These are basically unfinished, brand-new homes.  The builder apparently didn't make it, and the bank has these things on their hands.

The ones I concentrated on are all finished on the exterior... except for landscaping and final doors... and a couple need replacement windows.  Possibly some other exterior repair on some as well...

The interiors are a different matter.  At the very least all of them need flooring, cabinetry, paint, fixtures and appliances.  Some also need HVAC, electrical and plumbing finish work and drywall repair. In each case, I would expect to see $75k or so to get these done and ready to live in.

Since the builder is no longer viable, I would assume that these are without any sort of warranty.  And just to be clear, these are NOT move-in ready.  In fact, as a very inexperienced construction estimator, I would guess that it would take 60 days to get into one of these after getting the work started.

On the flip side, the prices for some of the larger homes are around $250k.  Keep in mind that the ARV (After Renovation Value) of the homes should be in the $400k to $500k range.  So, one could expect that in a couple of years their $350k investment ($250k house + $75k renovation + $25k in stuff that always comes up) could yield $50k or more in profit.

That isn't to say there aren't challenges... the subdivision is not very built out and I don't think the amenities are in.  The HOA doesn't exist.

Another interesting point... all of the homes I went in had very tall garages.  With the right changes to the garage doors, I think that lifts could be installed in at least one spot of each garage.  One of the plans also had an unfinished bonus room over the garage... Interesting!

And my buddy Ken Cook at Novation is working up some special financing plans for these properties.

I noticed that several of the homes had gone under contract in the last few days.... don't wait too long.

While running a quick search for a friend, I ran across a few interesting listings...

There are a few deals out there that stop me in my tracks for a minute. Some catch my attention because they are priced well below the competition... and they don't need more work that the deal is worth. Others grab me because their condition is amazing, and they are still priced competitively. Finally, there a few that reach out because they are unusual... in a good way.

These were of the third type...

I saw the pictures... and they didn't fit the price. Not that they were priced a little lower than I might expect, but low enough that I wanted to check to see if these were all mistakes. There are around 4 of these that are literally priced hundreds of thousands below the other similar homes in the neighborhood. But here is the catch... they aren't finished. But, for the opportunity to buy a $400k+ home for $250k, one might have to put up a little sweat equity. The builder likely went belly up.

Obviously these aren't for everyone. But for the right buyer, these could be a steal of a deal.