Gainesville & Hall County Real Estate:  Our Community is Stronger!

The Abernathy Cochran Group of The Norton Agency has reported on the residential real estate market in Hall County several times over the last two years.  In 2010, Hall County homes sold better (as a percentage increase in number of sales year to year) than our neighboring counties, the counties of metro Atlanta, the State of Georgia, and the Nation.

The 2011 Market is showing strength for Hall County.  So far, as of the end of May, Hall continues to sell more homes (year over year) than those around us!

We researched several areas looking for the number of home sales from January 1^st to May 31^st, in 2009, 2010, and 2011, and the trends in number of sales year over year.  These areas saw the following percentage increase or decrease in number of home sales from 2009 to 2010; and from 2010 to 2011:

Area                Change ‘09 to ’10                               Change ’10 to ‘11

Barrow            +16.2%                                                -12.6%

Jackson            +13.8%                                                -20.9%

Dawson           +39.6%                                                -17.6%

Fulton              -17.4%                                                 -9.2%

Dekalb             -4.6%                                                   -14.4%

Hall                  +28.8%                                                +12.3%

Forsyth            +23.1%                                                +9.5%

Gwinnett         +7.9%                                                  +7.8%

Cobb                +15.2%                                                +1.8%

State of Georgia   +3.8%                                            -3.4%

(Data Source: GAMLS) 

http://www.abernathycochran.com/

The national media has reported stories over the last several months that have included our community.  One national publication praised Gainesville for a rise in the average home value.  Another national publication is now showing that this area is still losing value, and said the words “double dip”.  Our analysis shows that the studies are comparing quarters in different parts of the year.  Who knows what they are selling.  The national publications do not know much about what is actually happening on the street, in our local market.  We do.

The truth about the condition of our local real estate market is in the data.  While the average home sale price in Hall County is still falling, the trend is slowing considerably.  The average home sales price for the first 5 months of the year:

Rose    +7.8% from 2006 to 2007;

Fell      -7.3%   from 2007 to 2008;

Fell      -19.5% from 2008 to 2009;

Fell      -10.5% from 2009 to 2010;

Fell      -5.1%   from 2010 to 2011. (Data Source:  GAMLS)

One of the major reasons we are seeing lower average home sale prices in Hall County can be attributed to the actions of a handful of troubled banks.  Some banks have taken back small homes, many of which were owned by investors and used as rental properties.  These banks are selling these properties for very little to get rid of them.  In 2006, during the first five months of the year 12 houses sold for less than $50,000. In the first five months of 2011 there have been 125 houses sell for less than $50,000.  This is a jump of 941.7%!  This alone has an enormous impact on the average sales price.

Don’t pay much attention to those that say “double dip recession” and “ring of death”.  The truth is that our market is getting better.  The strongest real estate markets in the Atlanta Metropolitan Area, and quite possibly the entire state of Georgia, are Hall, Forsyth, Gwinnett, and Cobb.  Of these four counties, Hall County is leading in year over year sales increases.  We know why we love it here.  There is not a better place to call home. 

We know our local market.  Call us anytime when you need the services of a local expert in Real Estate.  Things are getting better!  Have a fantastic week!

R. Brad Abernathy  |  Regina Cochran

Abernathy Cochran Group Real Estate

The Norton Agency

770-718-5255

TIME TO BUY....

Now is the best time to buy.  View the research yourself from multiple contributors.

Click on this link:
https://docs.google.com/viewer?a=v&pid=explorer&chrome=true&srcid=0BxIi1FykYw7DZmEzNjgxNzQtYWZiNS00ZWM3LTg4YTItMWY3YzY0ZGU3YzY4&hl=en

First Quarter Hall County Real Estate Analysis.

The first quarter of 2011 is now over.  The Hall County Real Estate market is doing very well for the year so far.  According to GAMLS statistics the number of single family home sales in Hall County for the first quarter of 2011 increased 4.8% over the same time period in 2010 (in 2010 we had the advantage of the Federal Home Buying Tax Credit).  To be beating the sales numbers from last year proves our real estate market is gaining more strength and stability.

How does Hall County's home sale numbers look compared to other years? 

2011's First Quarter beat 2010 by 4.8%.

2011's First Quarter beat 2009 by 35%.

2011's First Quarter beat 2008 by 20.4%.

Jim Woods wrote an article earlier this year for The Wall Street Journal's Digital Network where he stated:  "If you're a long term investor looking to put money to work, now is really not the time to get into stocks, precious metals, or agricultural commodities.  However, with home sales starting to improve, and with prices now possibly forming a bottom, real estate could well be the asset class that represents the best low-risk buying opportunity out there today....Yes, mortgage rates still are near historical lows, but if we see these rates rise, then the cost of a new home could climb significantly. So, now could really be the best time to pull the trigger on that home purchase - and it could also be your best investment right now."

Shawn Tully, Senior Editor for Fortune, wrote this in an article last week:  "After four years of plunging home prices, the most attractive asset class in America is housing.  Let's state it simply and forcibly:  Housing is back.  Two basic factors are laying the foundation for dramatic recovery in residential real estate.  The first is the historic drop in new construction...The second is a steep decline in prices, on the order of 30% nationwide since 2006, and as much as 55% in the hardest-hit markets.  The story of this downturn has been an astonishing flight from the tradtional American approach of buying new houses to an embrace of renting.  But the new affordability will gradually lure Americans back to buying homes.  And the return of the homeowner will start raising prices in many markets this year."

Things are getting better in Real Estate, especially here in Hall County.  We are even seeing good rates and terms for jumbo mortgage lending.  Call us anytime.  We are here to help you.

R. Brad Abernathy

Abernathy Cochran Group

2011 Real Estate Analysis of Hall County, So Far...

Our 2011 Real Estate Analysis, so far….

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The number of Hall County home sales (units) for January 1 to February 28, 2011, increased by 13.4% over the same time period in 2010.  This is terrific news for our market that continues to gain momentum.  During the same time period all home sales in Georgia (listed through FMLS) declined by 6%.
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While the actual number of home sales continues to increase the average home sales price has been trending downward for some time.  The average home sales price in Hall County for January 1 to February 28, 2008, was $241,775; for the same time period in 2009, it was $207,750 (a 16% decline year-over-year);  for the same time period in 2010, it was $166,975 (a 20% decline year-over-year); and finally, for the same time period in 2011, it was $155,030 (a 7% decline year-over-year).  This “average home sales price” mentioned above is overall.  Several price range segments have already leveled off.

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Last year, in 2010, Hall County had a greater percentage increase in home sales over the previous year than any other metro Atlanta County, the State of Georgia as a whole, and the Nation.  Now we are seeing a 13.4% increase in home sales so far this year over the same time period of 2010.  That is especially excellent news considering that home sales last year were escalated due to the federal home buying tax incentives that ended in April of 2010. 

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Even though this news seems mixed, we believe this will be a good year for real estate, and therefore a good economic year for business in Hall County.  Home sales continue to increase in Hall County and it looks like the average home sales price is leveling off for the entire market.

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If you are looking for homes for sale in Gainesville, Flowery Branch, Oakwood, Hall County, or on Lake Lanier, in GA, call our group.  We specialize in Real Estate Buying, Selling, and Consultation Services.

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R. Brad Abernathy
Abernathy Cochran Group
The Norton Agency
770-540-1548

Gainesville, Hall County, Georgia Home Sales Lead the Region & State

The light at the end of the tunnel may not be a train, after all.  While real estate has had a rough few years and we now realize how much it is intertwined into our national economy, the three most important words in real estate are still true:  Location, Location, Location.  Our Location is wonderful. 

GOOD NEWS - PART ONE

GAINESVILLE & HALL COUNTY real estate was great in 2010 compared to our neighbors and is predicted to get even better.  Hall County outperformed the U.S., Georgia, and all of our neighbors in the percentage increase in the number of single family home sales from 2009 to 2010.  The following data was retrieved from GAMLS, FMLS, and NAR.  When researching the actual number of single family home sales in 2009 and in 2010 we found that the following areas saw declines:  The United States declined 6.4%; Georgia declined 8%; the northern Atlanta counties of Gwinnett, Dekalb, Barrow, Jackson, Cobb, and Cherokee all saw declines ranging from .5% to 15.4%.  The great news is that 4 northern Atlanta counties saw increases in the number of single family home sales:  North Fulton increased 3.3%; Dawson County increased 3.9%; Forsyth County increased 4.5%; and, the brightest spot of all--Hall County-- increased 9.7%.

GOOD NEWS - PART TWO

An article published on February 10, 2011, by CBSMONEYWATCH.com contains even more good news for our area.  This article lists the biggest year-over-year winners and losers in real estate in the United States for 2010.  The data they used was from Zillow and included the percentage gain or loss in home values for the fourth quarter 2010 versus fourth quarter 2009.

This article is quoted as saying, “Despite the tough economy and struggling housing market, these cities managed to increase their home values. Travel and population hotspots like New York, California and Hawaii predictably did well, but there are quite a few surprising cities on the list.” 

The Biggest Winners with the Highest Year-Over-Year Home Value Gain are:

1. Ann Arbor, MI (Gain: 11.3%); 2. Gainesville, GA (Gain: 8.4%); 3. Honolulu, HI (Gain: 4.0%); 4. Madera, CA (Gain: 3.8%); 5. Merced, CA (Gain: 2.6%); 6. Cape Cod, MA (Gain: 1.9%); 7. Cedar Rapids, IA (Gain: 1.0%); 8. Binghamton, NY (Gain: 1.0%); 9. Utica, NY (Gain: 0.7%); 10. Virginia Beach, VA (Gain: 0.6%).

The Biggest Losers: with the Highest Year-Over-Year Home Value Loss are:

1. Pueblo, CO (Loss: -23.7%); 2. Mobile, AL (Loss: -18.5%); 3. Ocala, FL (Loss: -18.2%); 4. Detroit, MI (Loss: -17.4%); 5. Lansing, MI (Loss: -16.6%); 6. Miami-Fort Lauderdale, FL (Loss: -15.4%); 7. Atlanta, GA (Loss: -15.3%); 8. Lakeland, FL (Loss: -14.8%); 9. Flagstaff, AZ (Loss: -14.7%); 10. Melbourne, FL (Loss: -14.5%).

Our Location is the home for our Governor, Lt Governor, and Chair of the GA Chamber of Commerce.  Our location is now the real estate leader for our region, our state, and our nation.  The best Location is here.  Things are getting better.  Spread the good news. 

R. Brad Abernathy

Abernathy Cochran Group

The Norton Agency