Lane Bailey - REALTOR & Car Guy

Well, there are 154 of them on the market today. They range in price from $139,900 up to $8,500,000. The median price is about $700,000. The meat of the market seems to be around $375,000 and $2.5m. The properties range from incredible estates to modest homes, and from 2 car attached/2 car detached up to 20 car stables. There are some real nice properties at all sorts of prices.

And, you won't find this anywhere else... I am talking with a builder about developing a subdivision that has lots suitable for second garages/workshops, as well as HOA rules that favor auto hobbyists. Lots would be slightly larger than average, and the homes would be sited on the lots to allow another structure. The builder could also construct a garage to specs, or we could have another vendor (steel building is the thought) put them up. Extra driveways, trailer parking and pull through driveways are some of the things we talked about.

The thing that would push him over the edge is seeing actual interest from prospective buyers in Gwinnett County. So, if you would like to have a great garage home, let me know.

I just posted the latest market report on my website. Here is the direct link.

Here are the highlights...

December is kind of a funky month. Comparing it to January or November is difficult, because of the Christmas holiday. January is a more typical month, but the numbers are only preliminary and should change a lot prior to being finalized around the beginning of March.

The slowdown continues, but not as much. Using Absorption rates, the three, six and twelve month averages all showed improvement compared to November's rates. We really need to see real numbers for January before calling it out.

The bright spot for December is that the ratio of sold listings/new listings bumped up to almost 40%. That is a good showing.

The Pending sales for December are reasonably strong, but we haven't seen that translate into sales yet for January. Either we are going to see it stay low, and that will be evidence that the liquidity crisis is getting worse, or it will be better, and that will be evidence that the numbers aren't complete.

Hit the full report for more details.

There is a new subdivision coming up in Lilburn... and it looks great.

The Legends at Parkview

I stopped in tonight when the developer hosted a round table discussion for agents and mortgage bankers. We talked about the philosophy of the builder, Mayfield Homes, as well as some of the finance options that are being offered on the properties.

First, a few basics.

The prices range from the low $500s up to the low $700s. While there are nine different plans, each has several different elevations... and the builder is willing to modify any of them to better suit the needs of the buyer. At the moment they are offering basement lots for the same price as slab lots. In general, that amounts to about a $35,000 discount. These discounts are expiring in March.

Each of the plans feature either 4 or 5 bedrooms. A couple have bonus rooms as well. The homes are loaded with luxury features, like stainless appliance packages, granite and oil rubbed bronze fixtures. I kind of like the Addison plan... BIG three car garage with about a seven foot space to the side of one of the cars (according to plan... I didn't make it into one of the homes). It also features a laundry room on the second floor... where the bedrooms are, as some of the other plans do as well.

Please keep in mind.

I am NOT an agent of the community. I would love to help you buy a property there, and to do so would be functioning as a Buyer's Agent. So, if you are interested in finding out more about The Legends at Parkview, please feel free to contact me. I'd love to help you out. You might also want to look at this post about Buyer's Agency as it related to new homes. The good thing is that a Buyer's Agent brings more protection to the transaction for the buyer. The better news is that there is no cost to the buyer for their agent... the builder pays for it. And it is a VERY rare builder that cuts the price for unrepresented sellers, for several reasons.

Now, some more cool news.

It's all about the financing. I always recommend that every buyer shop several alternatives for a mortgage... except for cash buyers. Not only may different lenders and brokers have different programs, but even with similar programs may have varying rates and fees. One of the plans that was presented to us:

• Construction to Permanent loan
• 5% down with a 620 FICO score
• 12 month window to lock or float down during construction
• 18 months to finish construction
• Borrower may be able to pay interest from loan proceeds

Another cool option is that Mayfield Homes (the builder) is allowing contingent contracts on pre-sales (homes that are being built). This gives around 5-7 months to get your current home sold. They are also offering a trade up program in which they will offer to purchase your home if you are moving upmarket into one of their homes. Of course, each situation is different, so I can't provide any general guidance on what they might offer on a particular house.

The bottom line is that the builder is offering a lot of flexibility to get the properties sold. They are also working hard to ensure that the investment of the buyers are protected. The last thing they want to have happen is for there to be a price drop after selling properties. It makes for bad feelings between the builder and residents... and that isn't good business.

Here is a link to my blog post at LaneBailey.com with more pictures from The Legends at Parkview.

I look forward to hearing from you.

I just ran my search to see how many homes were currently active in Gwinnett County that had 4 car or larger garages.

151

The top of the range hasn't changed, the $10.5M home is still there, but there are a couple more below the previous $154,900... there is a property at $149,500 and another at $139,900. The median price is $719k.

I described a lot of the property details here a few weeks ago. While there has been a little churn in the properties, the overall range is similar. There are some great deals here.

Since the beginning of the year, three properties with a four car or larger garage have gone under contract in Gwinnett County. Another of the properties is under contract with a contingency and kick-out clause. Five properties have expired and seven more have been withdrawn. That means that there are 17 new listings since the last time I updated a few weeks ago.

If you are interested in a home with a big garage, and you want to be on the list to find out about the new listings first, let me know.

If you have a home with a serious garage and you are looking to sell it, find an agent that works with auto enthusiasts... that would be me... I look forward to your call.

Would you believe that in the Heart of Dixie one can join a Hockey League? What about Ice Skating lessons or practice Figure Skating?

The Duluth Ice Forum is Gwinnett County's hottest place to get cold. From beginner Ice Skating to Figure Skating competitions and kids or adult Hockey Leagues, the Ice Forum hosts it all... and public skating.

The Ice Forum is also the practice facility of the Atlanta Thrashers NHL franchise. Not only are the practices here, but they are open to the public and free. It is a great opportunity to get a close up look at the game, as well as possibly pick up some autographs or shake hands with the players. NHL players are quite approachable, and many of them will hang out and chat with fans and sign autographs until the crowd is gone.

My son is going to "Snowplow Sam" lessons each week. He wants to play hockey and has to pass through a few levels of lessons first. So, we are there one evening each week for him to take his class. We also try to go on another morning each week to a public skate so that he can practice what he's learned while I skate with him.

While the evening sessions of the public skate tend to be pretty busy, the mornings aren't. Also, the morning sessions tend to lean more towards families and seniors. So, there isn't much rowdiness. It is a great time to take a three year old that is challenging himself to not "plow snow."

Atlanta has several other ice rinks as well, including a Kennesaw rink that is affiliated with the Duluth Ice Forum. There is "The Cooler" in Alpharetta, and the "Marietta Ice Center" in Marietta. There are a few more rinks on the south side of Atlanta as well.

If you are relocating to Atlanta and looking to have a skating rink nearby, give me a call...