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Joshua Jarvis - Georgia Realtor's Blog

By Joshua Jarvis | Agent in Duluth, GA

Are Dacula & Buford Over-inflated?

Trulia is great it gives us "a-ha's" every day.  I was doing research on areas and stumbled across something.  Something I knew was true but never really started putting it together.  Take a look at the pricing of Lawrenceville; Gwinnett's county seat, the largest city in Gwinnett, and what do you find, the median price in Lawrenceville is $157K.  While in Buford it's $202K and in Dacula it's $198K.  Those are big differences and when location is key, gas prices are up -- you have to wonder if there's still some air in the bubble here.

Most realtors agree that the bubble wasn't all that big in Atlanta, GA.  However, these outlying areas with such a large price descrepancy have to make you wonder.

So let's look at the factors.

THOSE FOR OVER-INFLATED
  1. Further out (more miles from Metro Altanta) than lower priced homes in surrounding cities.
  2. Higher property values, means higher taxes.
  • So after all that scare there really is only two factors causing the "push."

    FACTORS FOR CORRECTED MARKET
    1. Lack of move-up housing inside the city, or lack of low income housing.  Higher property values.
    2. Schools - although the effect of schools is negligible as some of the best schools are also located in Lawrenceville and Suwanee.
    3. Mall of Georgia - (located in Buford, GA) Non-locals may laugh, but Georgia builds it's cities around malls.  It's what drives us.
  • Used to be that you'd pay an extra $50K to be on the lake or golf course if not more.  Now you can expect to pay that amount to live in a "higher income area."

    Comments

    By Mary Jane McDaniel,  Mon Feb 15 2010, 11:48
    I think that it may be due to the fact that there are a lot of almost new homes in Buford & Dacula. Plus, there are two golf course communities in those areas that pull up the average price.
    By Joshua Jarvis,  Mon Feb 15 2010, 13:40
    Since this posting from last year, the discrepancies have gotten worse. 3000 square foot homes with basements are selling for under $200K.

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