2016 Second Quarter Local Real Estate Market Update

July 20th, 2016

secondquarter2016

We have put together this snapshot of our local real estate markets for the 2nd Quarter of 2016.

The market continues to improve in these areas.  As you can see, the average sold price is continues to increase and the average days on market continues to decrease.  This means homes are selling for MORE money in LESS time.  That’s great if you are a seller!

If you have thought about selling your home, INTERVIEW US FIRST!  Even if you choose not to hire us, interview us so that you know what to ask and expect of the agent that you do choose!

Please understand that these numbers can vary greatly from neighborhood to neighborhood.

We will gladly research your personal zip code, school district, subdivision, etc. if you’d like to see how the local market is performing near your home or business.  We are just a call, text or email away!

GWINNETT COUNTY    2015 2016 CHANGE
Properties Listed 4383 4614 Up 5.3%
Properties Sold 3015 3185 Up 5.6%
Average SOLD Price $232,721 Data unavailable Data unavailable
Days on Market 50 42 Down 16%

 

JACKSON COUNTY   2015  2016       Change
Properties Listed 460 565 Up 22.8%
Properties Sold 264 356 Up 33.3%
Average SOLD Price $189,534 $199,723 Up 5.4%
Days on Market 76 60 Down 21.1%

 

BARROW COUNTY   2015 2016 Change
Properties Listed 471 481 Up 2.1%
Properties Sold 329 298 Up 2.1%
Average SOLD Price $144,288 $168,198 Up 16.6%
Days on Market 61 43 Down 29.5%

 

 HALL COUNTY         2015 2016 Change
Properties Listed 984 967 Down 1.7%
Properties Sold 665 651 Down 2.1%
Average SOLD Price $233,605 $253,998 Up 8.7%
Days on Market 71 61 Down 14.1%

 

COBB COUNTY           2015 2016 Change
Properties Listed 3632 3712 Up 2.2%
Properties Sold 2570 2530 Down 1.6%
Average SOLD Price $286,831 $298,635 Up 4.1%
Days On Market 44 36 Down 18.2%

 

WALTON COUNTY    2015 2016 Change
Properties Listed 510 603 Up 18.2%
Properties Sold 337 398 Up 18.1%
Average SOLD Price $198,640 $201,655 Up 1.5%
Days on Market 75 61 Down 18.7%

Call us today for a FREE market analysis of your home and with any other questions you may have about the local real estate market!

Definitions:

Properties Listed  – the number of single family homes available for sale during the time period

Properties Sold – the number of single family homes closed during the time period

Average SOLD Price –  the average sales price of SOLD homes only during the time period

Days on Market – the number of days from listing to closed for SOLD homes only during the period
**Data Source  Georgia MLS Pro

Home Maintenance Tips for Summer

July 20th, 2016

home-maintenance_summer

For most people, longer days and warmer temperatures brings an opportunity to get away from home and enjoy nature at its best. However, if you have big to-do list, summer is the perfect time to assess the condition of your home and make upgrades and repairs where needed. Here are some home maintenance tips to check off your list so you can keep your home in top condition, while still leaving yourself with ample time to enjoy the sun:

1. Repair Your Deck/Patio
Since you will be spending most of your time outside this summer, it is important to make sure your deck/patio is ready for action. If your patio is made of concrete or cement, a good power washing can make your deck/patio look as good as new. When it comes to wood decks, power washing is not recommended, and you should check for any loose posts or boards and get them replaced or repaired as needed.

2. Assess Your Roof
Storms during the spring and winter season can take a toll on your roof and its structural integrity. This is particularly true if your roof is flat or slightly pitched. So, check for broken or loose shingles and loose mortar and chimney bricks. Also, look for signs for water leakage, and carry out repairs wherever required to lengthen the lifespan of your roof.

3. Check Your Drainage and Gutters
Clear your drainage system of any debris that might have built up over the spring and winter. It is a great idea to look for signs of damage or bending, especially after the wet months you have had, and replace any leaking gutters. If there is standing water around your home, consider hiring an expert to install a drain to prevent water from weakening the foundation of your home.

4. Replace Damaged Window Screens
Clean the windows around your home, and take a close look at the screen. Do you see any holes or rips? If so, it is important to get the screen repaired or replaced as soon as possible. With wasps and other pests buzzing around outside of your home, you will be thankful that you replaced your windows screens!

5. Clean Out Your Dryer Vent
According to the U.S Fire Administration, approximately 16,000 dryer fires occur every year. However, the risk of a dryer fryer can be avoided with proper maintenance. All you have to do is use a vacuum or a vent-cleaning brush kit and clean out the tubing of your dryer vent. By removing as much as dust and lint as possible, you can keep yourself and your family safe from such a hazard.

As you can see, it really does not take much to get your home ready for the summer. So, do not wait around any longer, and tackle your to-do list now, so that you can enjoy the rest of the summer with your family in the sun!

Wire Transfer Fraud in Real Estate

July 20th, 2016

wiretransfer

The threat of wire transfer fraud has recently expanded to real estate transactions, costing both buyers and sellers a considerable amount of money. However, despite all the coverage about wire transfer fraud in real estate, instances are still occurring in many countries around the world with real estate agents being the primary targets.

What is Wire Transfer Fraud in Real Estate?
The hackers responsible for wire transfer frauds are not actually snatching the money, but rather wiring the funds to wrong location. You may begin to wonder, “How do they do this?” Well, by sending out a series of fraudulent emails to the involved parties – mortgage broker, escrow agent, buyer, seller, etc – the hackers fool them into transferring the money into another account.

The hacker first attempts to identify the emails of the brokers, agents and other involved parties. Once done, they hack directly into the account in order to search for emails related to pending real estate transactions. Using the information they gather, an email is created and sent from the same hacked account, providing details about where to wire the funds.

After the money has been transferred to the hacker’s account, it is withdrawn immediately, leaving no traces of it whatsoever. So, can it be avoided? Yes, it can! In addition, there are a number of ways you can avoid falling victim to these scams. However, it all comes down to the real estate company or agent you are dealing with (discussed in detail ahead).

How to Avoid Wire Transfer Fraud?
Since title companies and lenders typically have strong security measures in place to protect their email systems, and active buyers and sellers are rather tricky to target (as they have one real estate transaction every seven years on an average), hackers look to real estate agents to make some good money.

While the agent’s account is not always the source of the fraudulent emails, they do prove useful when it comes to gathering information about the pending real estate transaction. Therefore, it is recommended that you work with real estate companies or agents that have methods to protect their clients from the threat of real estate wire transfer fraud.

At the same time, it is important for both buyers and sellers to be vigilant. Always call the escrow officer to confirm whether if wiring instructions were sent, and make sure to repeat the correct amount before taking any further steps. Moreover, if any changes to wiring instructions are sent via email, discuss it over the phone as well.

Atlanta Housing Inventory Shortage…

June 16th, 2016

atlanta

Atlanta Housing Inventory Shortage and Why That Makes It a Good Time to Sell Your Home

A Look into Atlanta’s Housing Inventory Shortage
If you own a home in Atlanta, you are in a good position to take advantage of a weakness in the real estate market, which, let’s face it, is a lot different than it used to be even just a year ago. In most areas of Atlanta, the market has shifted in favor of sellers rather than buyers, mainly due to a shortage of housing inventory.

If you follow real estate news, you probably have come across countless stories regarding how the lack of quality homes in Atlanta is leading to soaring prices, causing homebuyers to pay more than they would otherwise. What exactly is the reason behind this trend? A number of factors have led to a dramatic decrease in overall housing inventory, many of which are discussed in detail here.

Why Is This a Good Time to Sell Your Home?
While Atlanta’s housing inventory shortage will continue to affect different areas of the real estate market for the next few years, the scenario would leave sellers with more power over the home-buying process. After all, a limited supply of housing inventory will lead to greater demand and this allows sellers to price their home higher than the market value.

This is a good time to sell your home because with fewer Atlanta real estate listings available on the market, you, the seller, are in a better position to price your home for maximum profit. You, for a change, have more negotiation power than buyers, making it possible to sell your home for the top dollar and quickly!

How Long This Inventory Shortage Is Likely to Last?
From low starts in new home construction to the lingering effects of the housing crisis to the poor economic situation in the country, a variety of factors affect housing inventory. This persistent housing shortage in some ways is turning into a cycle where homeowners who may be ready to move up to their new home are discouraged due to fewer options on the market.

Moreover, many homeowners list their homes for the sole purpose of upgrading to a more expensive one. However, they are likely to be holding off, courtesy of shortages in the market, and this further intensifies the problem. Times are changing, and so is the real estate market, making it rather difficult to predict what the coming years will bring.

However, according to real estate experts, stability is not too far. This will cause the cycle of short housing inventory to ease in Atlanta. Provided that’s the case, chances are that sellers may lose some of the advantage they have in the future, but only time will tell whether or not these factors will be resolved in the next few years.

Don’t Miss Your Chance to Sell Your Home for the Best Price!
If you wait around, you could miss the opportunity to sell your home at the best possible price. After all, you have the real estate market working in your favor, and being a seller, what could be a better time to sell than now?

Common Appraisal Headaches and How to Avoid Them

June 16th, 2016

headache

In most home-buying scenarios, a home appraisal is mandatory to assess the home’s current market value. After all, the lender would want to protect their investment and hence require appraisals to make sure they don’t approve loans for more than a home is worth. However, while home appraisals are an integral part of any real estate transaction, appraisal problems can stand in the way of a home sale!

Although appraisal issues can be rather tricky, they can be minimized by learning about the potential problems that can be encountered during the process and understanding how they can be effectively overcome. In this article, we have discussed a few common appraisal headaches that come up and how to avoid them:

Headache #1: Appraiser Didn’t Include My Updates
During the appraisal process, appraisers should note the quality of updates, features and construction your home has undergone over the past 15 years. While these improvements are easy to pick up on at times, there are other instances when they are not and these missing items may contribute to the current market value of the home.

If you find yourself in a similar situation, the best thing you can do is to prepare a list of the renovations or updates the home has been through, and hand it over to the appraiser when they come to your home. This list should include a short description of what work was done, its cost (if the information is readily available) and the date it was it was carried out on.

Headache #2: Appraiser Didn’t Know My Area
Over the last several years, this has become a common problem. Since Appraisal Management Companies (AMCs) choose appraisers on the basis of who will do the job for the lowest fee, it the quality of appraising has gone down. More often than not, the appraiser is from an area outside of where your home is located.

Therefore, they may not know the area well and have the necessary data sources to provide a reliable and accurate appraisal. The solution is to ask the mortgage company or bank where the appraiser’s office is located and whether or not they have done much work in your area. If not, you should request for an appraiser with experience in your area as this would lead to more accurate appraisals.

Headache #3: Appraiser Didn’t Come Into My Home
Have you ever had an appraisal performed on your home where the appraiser DID NOT come inside at all? This is because lenders sometimes order a drive-by appraisal as it’s usually less expensive than a full appraisal. The appraiser, as a result, doesn’t know what the inside of your home looks like. They will not be aware of the improvements made nor have reliable data regarding the square footage of the home.
So, it’s important to be proactive on your part as you can never be sure whether the appraiser will call you on their own to get the information they require. Provide the appraiser reliable data about the square footage of your home from a previous appraisal, and let them know about any updates or renovations to ensure the appraiser gives you an accurate, but less expensive appraisal.

2016 First Quarter Local Real Estate Market Update

April 20th, 2016

real estate market update gwinnett hall jackson barrow walton cobb county

We have put together this snapshot of our local real estate markets for the 1st Quarter of 2016.

There continues to be a severe shortage of listings in the Atlanta Metro markets.  Any time there is more demand than supply of homes, the conditions may be very favorable for selling.  If you have thought about selling or know someone who has, now may be the time.  Call us today!

Please understand that numbers in this report can vary greatly from neighborhood to neighborhood.

We will gladly research your personal zip code, school district, subdivision, etc. if you’d like to see how the market is performing near your home or business.  We are just a call, text or email away!

GWINNETT COUNTY    2015 2016 CHANGE
Properties Listed 3460 3371 Down 2.6%
Properties Sold 1746 1964 Up 12.5%
Average SOLD Price $216,579 $229,835 Up 6.1%
Days on Market 70 61 Down 12.9%

 

JACKSON COUNTY   2015  2016       Change
Properties Listed 338 403 Up 19.2%
Properties Sold 169 222 Up 31.4%
Average SOLD Price $180,171 $192,033 Up 6.6%
Days on Market 88 81 Down 8.0%

 

BARROW COUNTY   2015 2016 Change
Properties Listed 378 421 Up 11.4%
Properties Sold 240 257 Up 7.1%
Average SOLD Price $147,051 $156,762 Up 6.6%
Days on Market 73 61 Down 16.4%

 

 HALL COUNTY         2015 2016 Change
Properties Listed 850 824 Down 3.1%
Properties Sold 410 459 Up 12%
Average SOLD Price $215,650 $219,153 Up 1.6%
Days on Market 91 76 Down 16.5%

 

COBB COUNTY           2015 2016 Change
Properties Listed 2720 2591 Down 4.7%
Properties Sold 1487 1500 Up 0.9%
Average SOLD Price $248,656 $273,930 Up 10.2%
Days On Market 62 59 Down 4.8%

 

WALTON COUNTY    2015 2016 Change
Properties Listed 457 496 Up 8.5%
Properties Sold 209 263 Up 25.8%
Average SOLD Price $184,502 $189,961 Up 3.0%
Days on Market 82 72 Down 12.2%

Call us today for a FREE market analysis of your home and with any other questions you may have about the local real estate market! Visit the Contact Us page or call 404-372-6834.    

Definitions:

Properties Listed  – the number of single family homes available for sale during the time period
Properties Sold – the number of single family homes closed during the time period
Average SOLD Price –  the average sales price of SOLD homes only during the time period
Days on Market – the number of days from listing to closed for SOLD homes only during the period
**Data Source  Georgia MLS Pro  

ThePOLKTeam.com Mobile App is LIVE!

October 24th, 2013

mobileapp

ThePOLKTeam.com Mobile App is LIVE and ready for you to take advantage of from your smartphone!

You can see all nearby homes for sale in the Atlanta and North Georgia areas, look for open houses and even see what your neighbor’s home sold for!

  • Complete, localized listing information
  • Extensive search capabilities
  • Photo Galleries and more!

Download the App Now!

Be sure to use the Agent Code provided to have access to ALL of the best features!

Happy Hunting!