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Janice Slaven, Suwanee Georgia Real Estate

2009 SUWANEE'S ART ON A LIMB!

ART ON A LIMB....


It's that time of year for the travellers of the Suwanee Creek Greenway - and this year...the park-goers at the new Sim's Park. Begining May 1, the trails at both parks will be dappled with the creative works of Melody Orr. This is the second time for Melody to to participate in Art on a Limb. Her artwork was also displayed in 2006 Art on a Limb.
And, this is the fifth year for "Art on a Limb." This year's pieces (100 in all) will be magnets with collages of historic Suwanee photos. The artist has combined multi-media techiques in her artwork to enhance the time period for which each magnet repreents.
Art on a Limb is a way to have fun and bring an element of excitement as you walk
along the paths of either of the parks. Two pieces pf Melody's art will be placed on the trail every day throughout the month of May. He or she who finds.....gets to keep! So as you walk, run or peddle your way along these pathways starting in May, keep your eyes open! A treasure is lurking....Can you find it?


Come to my house:
MySuwaneeHome.com

RIVERMOORE PARK - FIRST QUARTER 2009 vs FIRST QUARTER 2008

First Quarter 2008

SOLD: 2

Corp Owned: 0
Foreclosure: 0
Owner Transfer: 0
Lease Purchase: 1
No Special Circumstances: 1

AVERAGE DOM: 44

High Sold Price: $483K
Low Sold Pirce: $438K

List to Sale Price: 96%
Seller Finance Concessions: $135












First Quarter 2009

SOLD: 0

Corp Owned: 0
Foreclosure: 0
Owner Transfer: 0
Lease Purchase: 0
No Special Circumstances: 0





CURRENT ACTIVES: 33
Price Range: $399K-$898,884

Corp Owned: 1
Foreclosure: 1
Owner Transfer: 5
No Special Circumstances: 25








OVERVIEW


Atlanta first quarter sales historically are low when compared to the rest of the year. Additionally, the current Atlanta real estate market is considered a "declining" market. This will have an effect on property values as we continue to move through the down turn. However, this should NOT deter you from selling if the time is right for you. With historically low interest rates (4.25% forCconventional), and the ability to make up the loss of value on your sale when you purchase, there is no better time than now to sell and move to the home you have always wanted....whether it is downsizing or moving up.

For more detailed market information:
http://vidego.multicastmedia.com/player.php?p=v2k26z0

For more Rivermoore Park sales history:
http://www.janiceslaven.prudentialgeorgia.com/janice-slaven-real-estate-blog-and-market-reports.aspx



Come to my house:
MySuwaneeHome.com

PUTTING A FACE ON THE GEORGIA HOME BUYER IN 2008

FACES of THE GEORGIA HOMEBUYER in 2008

Yes, homes did sell in Georgia during 2008, one of our worst year's in real estate. Curious about the profile of the average home buyer?

  • Median age was 39
  • First time home buyer median age was 31
  • Median house hold income for 2007 for Georgia home buyers was $73,600
  • Interesting: 61% of home buyers had no children under 18 living at home
  • 9% born outside United States
  • 41% first time home buyers
  • Median income for first time home buyers was $52,800
  • 61% of first time home buyers said their primary reason for buying was a desire to own a home
  • 47% of home buyers use social networking sites

CHARACTERISTICS OF PURCHASED HOMES

  • 32% of homes purchased were new construction
  • Detached homes accounted for 81% of home purchases
  • Median price range: $195,000
  • Commute time was on the list of consideration for 80% of buyers
  • Buyers expect to live in their home approximately 10 years

HOME SEARCH PROCESS

  • 31% of home buyers first researched properties on line
  • 15% of first-time home buyers first contacted a real estate agent
  • 19% of repeat buyers first contacted a real estate agent
  • 89% of all home buyers used the internet for home searches
  • Time involved in the home search was a median of 9 weeks
  • 85% of all home buyers used a real estate agent
  • 36% of home buyers learned about the home they purchased from a real estate agent
  • 83% of buyers found their real estate agent provided very useful information
  • 10% purchased foreclosure properties

HOME BUYING PROCESS

  • 76% used a real estate agent to purchase their home
  • 46% of buyers were referred to their agent by friend and/or family
  • 97% ranked honesty and integrity as "very important" when selecting a real estate agent
  • 72% would use their agent again

FINANCING

  • 98% financed their home
  • 66% of first-time buyers used savings as their source for the down payment
  • 48% of repeat buyers used proceeds from the sale of a home; while 44% used part of savings to assist in the down payment
  • 49% believed a home purchase was a better investment than stocks

Source: NAR


Come to my house:
My Suwanee Home.com

ATLANTA GA MARKET REPORT - February 2009 vs. February 2008

Some good news to report on a national level:

USA Today reported a rise in home sales for February. And, according to an article by Walter Molony for Realtor.org, existing home sales rose 5.1 percent nationally (Existing Home Sales Rise in February; March 23, 2009). While Lawrence Yun, NAR chief economist reports first time home buyers account for HALF of all home sales in February. And, much of that has to do with the current First Time Home Buyer $8K Tax Credit passed by Congress recently.

In the same article by Walter Molony: "In the South, existing-home sales rose 6.1 percent to an annual pace of 1.74 million in February but are 11.2 percent below February 2008. The median price in the South was $146,700, down 10.0 percent from a year ago."

With banks lending again, Steve Palm with Smart Numbers is predicting an uptick of home sales in our Atlanta market. Additionally, Dan Forsman, CEO of Prudential Georgia Realty is looking to the second half of 2009 (State of the Market Video) for home sales to see improvement in Atlanta. Put this all together and this will present an opportunity of a lifetime for buyers due to unbelievably low interest rates and great home prices. Current interest rates: FHA @ 5% and Conventional @ 4.5%...and, these rates will not last forever! As the market improves, rates will go up.

Let's take a look at Atlanta for February, 2009:

Information is gathered from the First Multiple Listing Service. Data is believed accurate, but not guaranteed.

For more information on the the real estate market consider the following:

State of the Market Video

Existing Home Sales Rise in February

Economic and Housing Indicators


Come to my house:
MySuwaneeHome.com

STATE OF THE MARKET - Spring, 2009

Now is a great time to buy....if you are an informed buyer! I know there is a lot of apprehension in the real estate market nationwide. And, for the Atlanta market attitudes are no different. But the savy buyer will recognize this limited window of opportunity and literally....make their move! Particularly if you are a first time home buyer.....what a fabulous chance to become a homeowner AND put $8K in your pocket.

Everyone is talking about the First Time Home Buyer Tax Credit. If you purchase a home during 2009 and you have never owned a home; OR, if you have not owned a home in the past three years, this IS your chance to seize the moment and receive a tidy sum of $8K from the Federal Government. Additionally, for Georgians, the House recently passed a $3600 tax credit for ALL home purchasers. However, the way the bill currently reads, the home owner would have to apply for the tax credit within six months of the governor signing the bill. This measure now goes to the Senate.

If being a home owner has been a dream you thought you could never obtain, take the time to view this video and then.....GET MOVING!!!!!! The Atlanta market has much to offer!!!


Come to my house:
My Suwanee Home.com