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Joshua Jarvis - Georgia Realtor's Blog

  • The Credit Crisis Explained

    Posted Under: Market Conditions in Lawrenceville  |  March 3, 2009 6:49 PM  |  318 views  |  No comments
    This video does an outstanding job of explaining the "HOWS" and "WHYS" of where we are in this credit crisis.  It becomes easy to see why there are so many short sales in atlanta.




  • Short Sales Are Increasing In Georgia

    Posted Under: Market Conditions in Duluth  |  February 9, 2009 6:03 PM  |  178 views  |  No comments
    I haven't posted on Trulia in a while and they've done a lot of great things. Since my last post I must say two things:
    1. Trulia visitors in Atlanta have increased! I'm seeing many more targeted inquiries.  I'm "throwing in" with Trulia and getting listings and letting Trulia do some heavy lifting, I'll blog about the success when it happens!
    2. Short Sales In Atlanta have increased ten fold.
    I read a study that said that 40% of sales in Florida are short sales.  I'm not sure how accurate that is, but up to 10% of the inventory is short sales in many communities. This number is sure to increase over the next few months.

    I thought it would be worthwhile to list some great articles I've read or written in the past few months:
    All of my listings appear on Trulia, but if you just want my Atlanta Short Sale Listings then they are all here.


  • Market Update

    Posted Under: Market Conditions in Lawrenceville  |  September 26, 2008 11:21 AM  |  225 views  |  2 comments

    In preparing for a listing appointment in Lawrenceville, GA, I discovered some good news and some realistic facts about our market.  Given the latest news, I felt like sharing.

    The Bad

    • Since 2000, this year has statistically beat out every other year in terms of length (not good) with between 90 and 100 days on market being average. 
    • Expired Listings (the homes that failed to sale) are at all time highs in every month, going back 8 years.
    • Average Sale Prices are mirroring 2005, but there was a nice increase in average sales price in the early summer.
    • August 2008 was the worst month in this decade for sales, but previous months followed the 2005 pattern.
  • The Good
    • Most sellers in Metro Atlanta are getting 95% or more of their list price.  With some parts of Gwinnett getting 99% of List price.
    • Although inventory (supply) is UP consistently every month, it's starting to subside.  In one area of Gwinnett there were only 6 more homes for sale in August of 2008 then there were in January 2008.
    • Internet traffic seems to have increased almost 100% for home searches since July (these are my numbers).

    • SOURCE: FMLS REAL NUMBERS DATA

  • Are Dacula & Buford Over-inflated?

    Posted Under: Market Conditions in Buford  |  August 5, 2008 6:52 AM  |  173 views  |  No comments
    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."
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