Anyone who lives in the Atlanta area can tell you that the housing market has definitely been affected by the new homes bubble, the large number of short sales and foreclosures as well as a reduction in buyers. Atlanta was one of the top markets in the nation for new home construction until 2006. Currently new homes sales are down 80 percent from peak levels.
Georgia currently ranks #7 in the nation for foreclosures. More short sales and foreclosures are expected. For 2009 over 50% of sales are short sales, foreclosures, corporate owned or bank owned properties.
Current inventory levels are approximately 16,000 less than previous years. Home pricing has dropped due to foreclosures, short sales, aggressive new home prices and home owners becoming more aggressive in their pricing in order to compete. According to Case-Shiller average home values have dropped 23.14% from the peak of July, 2007.
As of the end of June, 2009 inventory supplies stand as follows:
Source:
Dan Forsman/President & CEO Prudential GA Realty
For more information: Atlanta Real Estate Market - Summer 2009 Edition
Come to my house:
My Suwanee Home.com
Atlanta currently ranks in the top 10 nationally for foreclosures. And that statistic is glaring when you start to break down what the numbers actually represent.
DETACHED SINGLE FAMILY HOMES
ATTACHED SINGLE FAMILY HOMES
According to Steve Palm/Smart Numbers, inventory levels dropped in May 2009 reflecting 16,000 less listings compared to one year ago. I believe it is indicative of most home owners sitting on the side lines choosing not to compete against the foreclosure market.
The lower interest rates along with the First Time Home Buyer Tax Credit and Georgia's Home Buyer Tax Credit do seem to keep the Atlanta real estate market alive. However, it's my opinion that consumer confidence could really take a nose dive to the point nothing sells if the Federal deficit continues to climb as the House and Senate work diligently to pass the Cap and Trade bill along with the Health Care Reform Bill.
It seems like a daunting task to many home owners toying with the idea of whether to sell their home now or to sit tight until they see improvement in the current real estate market.
As a Realtor® for over 14 years, this indeed is the most challenging time in our industry that I have seen. However, it is safe to say that homes are selling that are NOT foreclosed or distressed properties. But to be amongst the success stories instead of just reading about them, it takes planning, a dose of reality and commitment to the process.
During the first four months of 2009, 11,144 homes sold in the greater metro Atlanta area.
In the end, even with the challenges facing us today in the real estate market, the enticing interest rates and the decline of property values it is still a GREAT time to buy and SELL real estate.
Staying true to form, the City of Suwanee has started the process of
sowing seeds for a community garden. The 7-acre site is located near historic
Old Town Suwanee at Buford Hwy near White Street and the location of a former
farm.
The City of Suwanee is steeped in agricultural history
so the community garden seems completely appropriate and won voters approval
as part of Suwanee's open space program. The newly created community garden
and historic barn, which still stands, will pay homage to the City of Suwanee's
beginnings.
The barn will be renovated and made accessible to the public for work on
the property. In addition to the community garden, the 7-acre site will
include walking trails, seating and will also serve as the back drop for
horticultural and ecological education.
Current plans have the City of Suwanee owning and maintaining the
property. The long-range hope is for an appointed citizen board to
oversee the day-to-day operations of the garden.
Three public meetings are scheduled to discuss the plans for the
garden:
Dates are tentative so check www.suwanee.com for more details
and location.
Chuck Warbington
Executive Director
Gwinnett Village Improvement District
Gwinnett Village CID, Gwinnett Place CID and City of Suwanee Receive Grants to Fund Revitalization Efforts
Norcross, GA (March 30, 2009) --- The Georgia Department of Transportation (GDOT) recently awarded $150,000 in grants to aid three Gwinnett County groups in their revitalization efforts. Grants were awarded to the City of Suwanee, Gwinnett Village Community Improvement District (CID) and Gwinnett Place CID. All three grants will be used for improvements surrounding active Interstate-85 interchanges with redevelopment potential.
"These three projects were selected to receive Georgia Department of Transportation Roadside Enhancement and Beautification GATEway Grants based on review and recommendation of our Roadside Enhancement and Beautification Council members," said Davie Biagi, landscape architect for the Georgia Department of Transportation. " A primary goal of the GATEway Grant program is to fund enduring enhancement of the roadsides for the traveling public, so evidence the groups have solid plans for quality maintenance of their beautification projects was key. The Georgia DOT appreciates the fine examples and enthusiastic participation of these local government entities in beautifying Georgia's public rights of way. "
The Gwinnett Place CID project centers around continued landscape improvements at the Interstate-85, Pleasant Hill Road interchange and includes enhanced landscaping for the northeast and southeast quadrants of that exit. The CID has already undertaken and completed a similar project for the Steve Reynolds Boulevard interchange and part of the Pleasant Hill Road exits.
"These interchanges serve as a welcome mat for Gwinnett County," said Joe Allen, executive director for Gwinnett Place CID. "The investments made set the standard and send a message that these areas remain successful and are poised to continue thriving in the future. Landscaping is just one step in promoting quality redevelopment throughout the area."
The $50,000 grant that Suwanee received will be used for landscape enhancements around the GA-317 (Lawrenceville-Suwanee Road), Interstate-85 interchange. The beautification project is part of the City's overall redevelopment plan that includes infrastructure, streetscape and transportation improvements as well as marketing and branding for the area. The landscaping improvements that will be partially funded through the grant are an integral part of the overall plan for the area.
"Suwanee Gateway is in good company with the CID areas," said Denise Brinson, director of economic and community development for the City of Suwanee. "The fact that so many communities are working to redevelop and make these types of improvements does nothing but cement the notion that great things are happening in Gwinnett."
Gwinnett Village CID will be using their grant to help fund a $125,000 aesthetic improvement project centering around the southwest corner of Interstate-85 and Jimmy Carter Boulevard. The newly landscaped plot will serve as an extension of the previous $825,000 beautification project that the CID has undertaken including the landscaping of the interchanges at Jimmy Carter Boulevard, Indian Trail Road and Beaver Ruin Road. Similar to these previous projects, the Jimmy Carter Boulevard, I-85 Gateway project will utilize an undulating pattern of primarily native and drought resistant plant materials.
"It's more than just landscaping, the aesthetic improvements promote a sense of security, pride and community," said Chuck Warbington, executive director for Gwinnett Village CID. "It helps create an environment that is appealing to residents and businesses in the district."
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Serving ALL of Gwinnett County Specializing in: Suwanee, Buford and Duluth Realtor, ABR, Active Phoenix Member
Thank you for visiting "Suwanee Talk". You will find a collection of current events, local and national market information as well as the ability to search the MLS...and, may be some information that is just for fun and good for the soul.
I have been a resident of Suwanee for over 20 years; and, I have been a licensed Realtor in Georgia for over 13 years with my area of expertise in Gwinnett County; specifically, Suwanee, Duluth and Buford. All my real estate experience has been right here in Atlanta.
During my years as a Realtor, I have prided myself on strong business ethics, honesty, integrity, a strong knowledge and understanding of our real estate market (yesterday, today and tomorrow) as well as a high level of professionalism while providing a personal commitment to client satisfaction. And, hopefully, I make the whole experience a bit fun at the same time! I enjoy relationship building with both the homeowners and buyers I work with. At the end of the transaction, I never say "good-bye..." it's "until we meet again." I pride myself in being there for you well after the transaction and make it a point to stay in touch with you and letting you know I am there for you if you need me; or better yet, just to hear how things are going.
Named for Button Gwinnett, signer of the Declaration of Independence, Gwinnett County originated in 1818. Some of the county's land came from neighboring Jackson County (to the north); while frontier land was ceded to the state by the Creek Indians.
Gwinnett County emcompasses the following cities: Buford, Dacula, Duluth, Grayson, Lawrenceville, Lilburn, Norcross, Sugar Hill, Suwanee and Snellville. Gwinnett County has been one of the fastest growing counties in America over the past 20 years combining big city living with the small town feel of the suburbs.
Gwinnett County is home to approximately 776,347 residents (according to Gwinnett County Forecasting and Research Division estimates, 2007). The county lies approximately 30 miles northeast of Atlanta and the county seat is located in Lawrenceville, GA. The county encompasses 437 square miles and is neighbor to Barrow, DeKalb, Fulton, Hall, Jackson, Rockdale and Walton counties. We are the gateway to metro Atlanta from the north on I-85 and I-985. The University of Georgia is about a 40 minute drive via Hwy 316 (University Parkway); while Georgia State University is approximately a 25 minute drive south on I-85. We enjoy the luxury of being just minutes from beautiful Lake Lanier a 700 mile shoreline lake offering water park, picnicking, boating, golf, beach, horse back riding, hotel accomodations and so much more!
GWINNETT CITIES:
Gwinnett County Schools - Gwinnett County schools rank some of the highest scores in the state. The quality of education is one of the reasons people are attraced to the county. The curriculum used by the county school system is "Acquired Knowledge and Skills (AKS). Gateway testing is the barometer to determine whether studes are prepared to move up through the grades.
Gwinnett Colleges:
Georgia Gwinnett College is the first four year college in the county. Located off Hwy 316 at Collins Hill Road .
Gwinnett Technical College offers certificate and diploma programs. Located off Hwy 316 and Sugarloaf Pkwy.
Norcross Snellville Sugar Hill Suwanee
THINGS TO SEE AND DO:
Atlanta Coaliton of the Performing Arts - Atlanta's thriving, diverse performing arts community. Includes professional theatres, dance companies, symphonies and more.
Atlanta Botanical Gardens - The mission of the Atlanta Botanical Gardens is to develop and maintain collections for display, education, research, conservation and enjoyment. Come see what is in bloom.
Georgia Aquarium - World's largest aquarium and one of Atlanta's major attractions. Eight million gallons of fresh and marine water aquatic life. Come and enjoy! See aquatic life you've never seen before...If you are planning to visit this wonderful display, make advance arrangements.
Zoo Atlanta - Experience one of the finest zoos in the southeast.
Six Flags Over Georgia - Southeast's number one theme park.
Georgia State Parks and Historic Sites - Explore the great outdoors of beautiful Georgia!
World of Coca-Cola - Explore the complete story - past, present and future surrounding the world's best known "cola" drink.
Atlanta Motor Speedway - NASCAR speedway
Six Flags White Water - One of the top 10 waters parks in the country. Come enjoy the thrill!
Atlanta Symphony Orchesra - Enjoy the amazing and powerful sounds of the Atlanta Symphony.
Fox Theatre - Come get a taste of Broadway, experience the sounds of award winning music legends or the performance from well reknowned personalities
SPORTS
The Atlanta Vision - Semi-pro basketball team in Gwinnett. Official member of the American Basketball Association.
The 2005-2006 Division Champions (770-482-7994)
Atlanta Braves - One of the most successful franchises in baseball. Enjoy a game at their fabulous new stadium (404-614-1300)
Atlanta Falcons - Action packed games with our very own Atlanta Falcons football team (404- 223-8444)
Atlanta Hawks - Experience the thrill of NBA basketball with the Atlanta Hawks (866-715-1500)
Atlanta Thrashers - Enjoy the thrill of professional hockey at the Phillips Arena (866-715-1500)
Georgia Force - Arena football returns to Gwinnett - Gwinnet Arena (770-965-4944)
Gwinnett Braves - Triple A Team moving from Richmond, VA to Gwinnett beginning in 2009. Come join the fun and cheer them on.
A brand new stadium is being built at 2500 Buford Drive in Lawrenceville, GA (404-614-1300)
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