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Market Conditions in 30097 : Real Estate Advice

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Hank Miller, Real Estate Pro in Alpharetta, GA
Fri Feb 15, 2013
Hank Miller answered:
I was trying to think of a more vague question but failed to do so. Lee pretty much summed it up...

Define recovery. And while doing that, define the submarket. And after doing that establish the price point, home characteristics and other locational influences....schools, developments....

Then after that, define the time period that you're analyzing that will be credible to forecast into the next two years. Consider the national and local economy and the impact of bulk investors on the area. Might also consider the mortgage rates and any local projects underway or on the books that may influence value 18-24 months out....which leads me to ask - when in '14? Jan April, Nov?

And one rather big final question - what data are you using? MLS, public records, local, national? Not all transfers are noted in all data bases. Public records will ultimately record everything but often months later - and they don't have anything data friendly to search efficiently.

Bottom line is no one is going to forecast anything. The very best you can hope for is a sound review of PAST data with a cautious eye toward a couple of months to the future. Consider that many can't even agree on what's happened, never mind what might down the road.

But......since you asked about Johns Creek, the quick and dirty:

Solid area, desirable and economically sound. Dropped like the rest but anchored by outstanding schools, strong economics and locational appeal it is doing better than most Atlanta areas - will give you a look at Altos Research for the market. And note - Johns Creek data is a mix of a few zip codes...did I mention that as yet another variable?

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