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Janice Slaven, Suwanee Georgia Real Estate

TIPS ON SELLING YOUR HOME.....

Tip 1: When the real estate market is strong and robust by way that the demand out weighs the supply, the home seller can wait for top dollar. However, when we are experiencing the exact opposite....the supply exceeds the current demand, the reverse is true. In this instance, it is imperative, as the home owner, to price your home competitively to match the current market conditions. And it is equally important, before marketing your home, to understand your market and to know some of the essential components to a successful sale.

Tip 2: Low mortgage rates make buying a home prime time. Currently rates are unbelievably low (4.5% Conventional; 5% FHA)!! With rates so low, it is likely more buyers may qualify for more house - in turn making your home viable for a larger segment of the home buying population. Low rates benefit buyers and sellers alike.

Tip 3: Shine Your Apple: This is probably one of the MOST important tips behind pricing. It is imperative your home "shine"!!!!! Preparing your home to sell is a lot of work. However, when it is done properly it can reap large monetary rewards. Start by clearing out the clutter. Minimize the amount of furniture you have in each of the rooms to give the room the illusion of spaciousness. Take time to clean thoroughly (including windows, blinds and baseboards) and repaint with neutral colors if necessary. Be sure to check all the light bulbs and make sure they are working in all your light fixtures. This last suggestion is essential but also the most costly. For older homes, it is important to consider cost effective updates. Typically the kitchen and bath rooms tend to age our homes the most. But keeping these rooms up-to-date is essential in a successful sale - regardless of the market. And, typically you should be able to see a return on your investment when you sell. It is important, however, that you don't over improve! Buyers will only see the value in your improvements if it appeals to them personally.

Tip 4: Study. Learn as much as you can about YOUR local market. There are many reports out there reporting on the condition of the national real estate market. It is tremendously important to understand the market conditions in your area. Reports are available so take time to educate yourself.

Tip 5: Price your property realistically. This statement has always been true; however, it is more true now than ever before. Current conditions; and, more importantly media reports have prepared buyers to not overpay. But if you have taken time to prepare your home, you have done your research and priced your home properly you will have positioned yourself in the best way to receive a reasonable (or, at least workable) offer.

Tip 6: Use a reputable real estate agent. Not all real estate agents are Realtors®. Realtors® are bound by a Code of Ethics with their local boards. Once you have ascertained they are a Realtor®, look for a full-service agent who is familiar with your neighborhood or area. Most agents can provide you with comparative market analysis' but be sure the agent you align yourself with can provide you additional market information so you can feel comfortable they indeed have a full understanding and grasp of your local market conditions. You will also want them to provide you with a full outline of the marketing they can provide - keep in mind all Realtors® (or real estate agents) are not alike!

If you do your due diligence, you can sell your home.....even in today's market.

HAPPY SELLING!


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State of the Market

Advanced Marketing for your Personal Home

Janice Slaven, Realtor, ABR

Suwanee GA - RIVERMOORE PARK 2008 MARKET PERFORMANCE

RIVERMOORE PARK SOLDS 2008

Sold Homes: 16
Highest Sold Price: $717,000
Lowest Sold Price: $366,000
List to Sale Ratio: 93%
Average Days on Market: 58

Breakdown:

  • Corp Owned: 2
  • Owner Transferred: 1
  • Foreclosures: 3
  • Lease/Purchase: 1
  • Resale: 10







RIVERMOORE PARK SOLDS 2007

Sold Homes: 23
Highest Sold Price: $675,000
Lowest Sold Price: $360,000
List to Sale Ratio: 97%
Average Days on Market: 71

Breakdown:

  • Corp Owned: 0
  • Owner Transferred: 2
  • Foreclosures: 0
  • Lease/Purchase: 0
  • Resale: 21





As of January 25, 2009
Actives: 30
Price Range: $399,900-$979,000

Pending Sales: 1
List Price:
$454,000

RELATED ARTICLES OF INTEREST


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SUWANEE GA - 2008 ANNUAL REPORT

Like everywhere else, Suwanee has felt the impact of the down turn in the economy; and, as a result, the growth which has been experienced in Suwanee for the past 20 years, is also experiencing a temporary slow down:

  • Residential building permits totalled 71 in 2008 - just less than half the number as in 2007 (153).
  • Commercial development buidling permits were 12 compared to 25 in 2007.
  • High commercial and office vacancy rates.

However, Suwanee seems to be able to weather the storm by staying financially fit. The city's reserves are strong and in order to maintain financial stability, while still serving the community, the City of Suwanee will tighten its belt.

Accomplishments for 2008:

  • January 24 - Suwanee Gateway Branding Initiative - Striving to revitalize this area coming off I-85 @ Exit 111 leading into the city
  • March, 2008 - Public Arts Commission - Responsible for enhancing the quality of life for the city through the use of art while encouraging developers to incorporate art into their projects
  • May, 2008 - Pre-Trial Diversion Program - Nearly 68 first time defendants had a chance to have their records expunged by "correcting their behaviors and completing court-instituted conditions." More than 1200 hours of community serivce has been completed.
  • October, 2008 - Sims Lake Park Opened - 62 acre lake, looping trail, playground and stream scape
  • Suwanee Gateway PACT - Designed to reduce criminal activity and enhance relations between the city's businessess, police and the City
  • New Pulic Works Facility - 12,000 square foot, 20 year old warehouse on Windsor Parkway for the Public Works crews
  • Facade Improvement Grant Program - Through BB&T First United Methodist Church received a $2500 grant to spruce up their exterior
  • Calling Post System - Communication efforts with City water customers
  • Homestead Tax Defferal Program - Established for homeowenrs 62 and older with limited incomes
  • City Banners - Banners with the Suwanee Gateway log and tagline were installed at Town Center, along Main Street and along the I85-Lawrenceville-Suwanee corridor. Signs were also strategically placed to mark the city limits.
  • Pedestrian underpass was completed behind the current City Hall linking the Town Center with Main Street and historic Old Town

CITY OF SUWANEE - 2008 ANNUAL REPORT









Data is for fiscal year: 2008 - July1, 2007 thru June 30, 2008
Source: City of Suwanee 2008 Annual Report






City of Suwanee 2008 Full Annual Report
Suwanee Crossroad Newsletter, February 2009 Edition







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CAMERA.....Smile, Action!

Do you have a photographer inside you just screaming to be let out? Well now is your chance!

Suwanee's City Public Arts Commission will be hosting a photo contest. The initial winning photos will be proudly displayed during the grand opening of the new City Hall. Snap Suwanee is an on-going contest where photos are accepted year-round. However for the City Hall grand opening, photos must be submitted no later than February 16.

  • The contest welcomes amateur and professional photographers
  • A limit of 5 submissions per person
  • A separate entry is required for each submission
  • Any one individual can win once per year
  • Pictures must be taken within the city limits of Suwanee (preferably within the past 2 years)

To submit your photos mail to:

Suwanee Crossroad building
323 Buford Highway
Suwanee GA 30024

or email: SnapSuwanaee@Suwanee.com

Good luck!

For more information:
http://www.suwanee.com/pdfs/snap%20suwanee%20photo%20contest.pdf


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BUFORD, GA - 2008 REAL ESTATE MARKET IN REVIEW

Buford City Hall

BUFORD

REAL ESTATE MARKET

2008 vs. 2007

BUFORD SOLDS 2008

Sold Homes: 730
Highest Price: $1,425,000
Lowest Price: $ 39,500
List to Sale Ratio: 99%
Days on Market: 103

BUFORD SOLDS 2007

Sold Homes: 1031
Highest Price: $1,350,000
Lowest Price: $ 29,000
List to Sale Ratio: 92%
Days on Market: 111

2008 Breakdown

  • Foreclosures: 151
  • Corporate Owned: 97
  • Owner Transfer: 37
  • New Construction: 261
  • Lease/Purchase: 18
  • Resale: 166

2007 Breakdown

  • Foreclosures: 72
  • Corporate Owned: 46
  • Owner Transfer: 43
  • New Construction: 400
  • Lease Purchase: 13
  • Resale: 457

2008 vs 2007 Breakdown By Category


CATEGORY
  • Foreclosures:
  • Corporate Owned:
  • Owner Transfer:
  • New Construction:
  • Lease/Purchase:
  • Resale:




% CHANGE

↑110%
↑111%
14%
34.7%
77%
63.7%





BUFORD SOLDS 2008 vs 2007
By COUNTY


Gwinnett
Hall

2008
656
74

2007
925
106

% Change
↓29.1%
↓30 %

Information has been collected from the First Multiple Listing Service (FMLS). Data is believed to be accurate at the time of collecting data, but is not guaranteed.


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