Ana Ramiscal

To view the full Spalding County Mkt Watch, go to >> http://Spalding.BushRealEstateGroup.com

YTD 2010, Spalding County home sales are running close to a dead heat with the same 6 months last year. Like all surrounding counties, a huge portion of unit sales are a result of investor purchases of the under $100K price segment which has skyrocketed in 3 yrs by almost doubling with an 81% increase. Record breaking foreclosures have added so much inventory to this price point that it has become a dominate (over 2/3rd of the total) part of the price range spectrum.

Additionally, note the free fall of avg prices from $121K in '06 to $82K this year, a 32% decline. Again, that is a product of the unusual number of "under $100K" homes as a percent of total sales continuing to increase.

'06 1st half year unit sales v. '10 1st half year unit sales - 507 v. 279 - down 45.0% or 228 homes
'09 1st half year sales v. '10 1st half year sales - 285 v. 279 - down 2.1% or 6 homes
'06 avg home prices v. YTD '10 avg home prices - $121K v. $82K - down 31.6% or $39K
Jun 1 months supply v. Jul 1 months supply - 13.1 v. 13.7 - up 4.6% or 6/10th month - Relative position* - Avg
Jun 1 inventory v. Jul 1 inventory - 575 v. 594 - up 3.3% or 19 homes
YTD '10 Avg Sales Price v. Jul 1 Avg Inventory Price - $82K v. $147K - Balance grade - C (1 : 1.8 ratio)
Past 12 months Avg DOM v. '09 Avg DOM - 88 v. 94 - down 6.4% or 6 days
Units sold in Jun as a % of Jun 1 inventory - 9.7% (56 / 575) - avg
Sold to Expired ratio for past 12 months - 1 : 1.1 (521 / 575) - worse than avg
SFR Sell Price % to List Price for past 12 months - 92.8% ($87K v. $94K) - below avg
Increase in the "Under $100K" price range since '06 - 39.3% in '06 / 71.3% YTD '10 / an 81.4% increase

* Relative position = relative to the 9 southern crescent counties.

The good news; So Fulton has the 2nd lowest months supply in the 9 southern crescent counties, just behind Clayton, posting an 8.3 months supply as of May 1. A 6 months supply is optimum.

'06 1st trimester unit sales v. '10 1st trimester unit sales - 855 v. 751 - down 12.2% or 104 homes
'09 1st trimester sales v. '10 1st trimester sales - 867 v. 751 - down 13.4% or 116 homes
'06 avg home prices v. YTD '10 avg home prices - $170K v. $95K - down 44.2% or $75K
Apr 1 months supply v. May 1 months supply - 7.9 v. 8.3 - up 5.1% or 4/10th month - Relative position* - excellent
Apr 1 inventory v. May 1 inventory - 1,706 v. 756 - up 2.9% or 50 homes
YTD '10 avg sales price v. May 1 avg inventory price - $95K v. $148K - Balance grade - C+ (1 : 1.56 ratio)
YTD '10 avg DOM v. '09 avg DOM - 85 v. 104 - down 9.6% or 19 days.

To view the complete report go to: http://SoFulton.BushRealEstateGroup.com

For more information on buying or selling in South Fulton call me today!!!

Ana Ramiscal

404-217-6389

Bush Real Estate Group

Simply the Best

770-254-9400

We all have one thing in common: we like for people to agree with us. AT ALL TIMES. Before I became a real estate professional, I tried to sell my own home because the agent that I consulted to begin with told me I needed a new roof, my house was dated and I needed to sell it for 50K as is, or make some improvements that would result in the best return on my money. I made the decision to sell it FSBO, ask for 105K and prove her wrong.

My house did not sell, the best offer I got was for 50K (amazing) and as the result of the market turning sour, I still have that home. I did followed her advise as far as improvements and turned it into rental property.

I still see this agent as we work in the same area and now that I am an agent myself, I have the outmost respect for her because of her honesty and integrity.

Some friends of a good friend are getting ready to put the house on the market. My friend suggested they give me a call since I am very familiar with their area and have sold several homes here.

Surprise, surprise!!! They do not like what I have to say: The home is dated, it only has one bathroom and the three most recent comps in the neighborhood have sold between 30-40K.

Well, they did not decide to sell on their own like I did when I had my head stuck in the sand but this might had been a better decision because they are hiring a "NEIGHBORHOOD EXPERT" who has told them their house is going to sell for TOP DOLLAR after they replace all their faucets and light fixtures to brass and hang a huge chandelier above the dining table (REALLY????!!!).

The home was built in the 50s, does not have a garage and it looks like a matchbox. I don't care how many brass light fixtures and how many chandeliers they hang, the house will never sell for over 70K.

Sellers, there are some people out there that will do anything to get a listing(SAD) but before you fall victim to this WOLF, put your personal feelings aside and ask to see the numbers and statistics. THESE DON'T LIE.

And for the neighborhood expert, go take a course on Ethics.

Ana Ramiscal

Bush Real Estate Group

Many times I wonder if experience is really the best school. I just relisted a home that did not sell 2 years ago. Simply put, the house was overpriced. So my seller rented it, the house got trashed and a couple of months ago I get the dreaded call.

OK, I am a gloton for punishment and went ahead and relisted this overpriced home. Why? Well, I once heard that there is not such a thing as a bad listing and who knows: Maybe I will get some leads from this one. Ultimately, I listed IT again because I like this seller.

That said, I am not listing overpriced homes again and let me tell you why:

• Sellers will BLAME THE LOUSY AGENT AKA, YOU if the house does not sell.
• People who have their heads stuck in the sand will never realize that the only THING is going to sell a house these days is: ACCURATE PRICING THAT GOES HAND IN HAND WITH THE COMPS.
• Home stagers, open houses, caravans and other gimmicks DO NOT SELL HOMES.
• THE RIGHT PRICED HOMES WILL ALWAYS SELL!!!!
• And last and not least your pretty looks, your shiny BMW, your bling bling or the name of the company you work for will not impress the buyer when making an offer. Frankly, most buyers do not care if you LIVE OR DIE.

DO YOURSELF A FAVOR, PRICE THE HOME RIGHT AND HAPPY SELLING!!!!!!!!!!!!

Recently I listed a home on short sale status. The sellers had found themselves suddenly unemployed and the monthly payments were too much for them. I listed their home in July and got the bank to stop a forecclosure sale in September. By the end of September I got a contract that was accepted by the bank in two weeks!!!!! Surprise!!!!!! The closing was scheduled for November 2nd and I kept thinking: " I can not believe this is going so smooth".

That morning of November 2nd I was working in my home office when I got a call from the Lender. With some lame excuse they informed me that they were not going to approve the loan. Wow!!!!

I just knew it. This was going too easy for a short sale.

That evening when I met with the Sellers they indicated that their job situtation had changed and they would love to get their home back.

So I took a chance and called the person that had been helping me with the short sale. I got the sellers an agreement for a loan modification and this weekend they were able to move back into their home!!!!!

The Lender's agent and the sellers both kept saying: We feel so bad you did not get any commission out of this when you worked so hard.

I can tell you this: The look on those home owners faces and their children faces was the best commission I got this year.

As Thanksgiving Day approaches I want to thank every one of my clients and emphasize to you: this is a business of RELATIONSHIPS.

Hope that all the AR fellow members have a great Holiday as well as all the buyers and sellers out there. Hope all your dreams come true!!!!!!!