Market Conditions in 30004>Question Details

Derrik, Home Buyer in Alpharetta, GA

Does anyone have any market data for Sable Pointe in Milton? The subdivision appears to be nice but there

Asked by Derrik, Alpharetta, GA Mon Dec 3, 2007

are quite a few homes listed longer than the market averages. Are there any other underlying issues or perceptions that may be negative towards this development.

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4
Deryk Harper’s answer
Hi Derrik,
Never seen my name spelled that way before. :) We just sold a property in Sable Point this year. Idon't know of any issues with the neighborhood. About 150 homes... great neighborhood with huge lots in an affordable price range. Here is a link to recent activity in that neighborhood.

http://fmlslistings.marketlinx.com/SearchDetail/Scripts/PrtB…

The average time on the market for sales in the last year is around 52 days with a strong 95% list price to sales price ratio. Compare that to all of 30004 zip, in the 300-400k price range, at 77 average days on market and that subdivision is selling better than average.

All days on market have increased as we hit the fall market so any S/D listings are taking longer on average to sell when compared to our summer market. Sable Pointe is still selling well and would make a great place to live. If you would like to talk more about this or other communities in the area just give us a call at 770-906-0317 or drop us an email at info@keylocationsforyou.com.
Happy Holidays,
Deryk Harper
Associate Broker

P.S. If you want I can give you the homeowner's name that we sold to and he can tell you what he thinks after living there 6 months. He would be happy to share with you.
2 votes Thank Flag Link Mon Dec 3, 2007
Homes that are on the market for longer than average have little to do with the community, and more to do with the individual homes and marketing plans. In particular, their price may be off. The top 10% of homes in terms of value are selling in 77 days or less. The ones that aren't selling need to correct their condition, marketing or price.

There are a lot of homes on the market right now, so every neighborhood will look like it has problems. I can find several that statistically speaking would scream "something is going on here." Truth is, there is something going on, those ARM loans are adjusting.
Web Reference: http://www.jrjarvis.com
0 votes Thank Flag Link Mon Dec 3, 2007
Joshua Jarvis, Real Estate Pro in Duluth, GA
MVP'08
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Derrik,

I am not familiar with this neighborhood and have never visited it...perhpas Brenda on our team (Realtor) could better assist you...her email is brenda@rkihomes.com

I did however review data that is available to me via FMLS. The last month shows two new listings (one of these listings is under contract), another home has come back on the market (800 Greenpoint Drive), and two homes have reduced their prices...

475 Sable Court, from $380K to $369K
320 Hermitage Trail, from $349K to $325K

I looked further back and did not see anythink that would cause any alarm...I think overall it has been difficult for homes to get sold because we are in a "buyer's market". This is a GREAT time to buy a house...I'm currently in the process of closing on my first home!

I will forward your question on to Brenda as she knows the area better than I and she could probably do more than just interpret data. Also, check out our site for Milton at: http://www.soldonmilton.net (this site is in the process of being developed, but I think you will find it to be a great resource). Our main "Sold on" site is http://www.soldonroswell.com
Web Reference: http://www.rkihomes.com
0 votes Thank Flag Link Mon Dec 3, 2007
Derrik,

I'm not aware of any issues with that area.

Have you seen the homes you are discussing? Are they overpriced or in poor condition? These could be some reasons for their long listing period.

Homes are staying on the market longer than ever due to the amount of inventory available. I'm not sure where you have gathered your data, but it may be that the averages have not had time to reflect the slow market conditions.
0 votes Thank Flag Link Mon Dec 3, 2007
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