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        <title>Atlanta Real Estate Blog</title>
        <link>http://www.premieratlantarealestate.com/blog/tags/alpharetta/</link>
        <description>Atlanta real estate blog. Consumer focused real estate information for Atlanta and information and insight into local and national topics. Areas of interest include; Buckhead, Sandy Springs, Roswell &amp; Alpharetta. North Metro Atlanta.</description>
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            <guid>http://www.premieratlantarealestate.com/blog/new-construction-in-alpharetta-under-300000-haynes-valley-by-ashton-woods.html</guid>
            <link>http://www.premieratlantarealestate.com/blog/new-construction-in-alpharetta-under-300000-haynes-valley-by-ashton-woods.html</link>
            <author>ryan@premieratlantarealestate.com (Ryan C Ward)</author>
            <title>New Construction in Alpharetta Under $300,000 - Haynes Valley by Ashton Woods</title>
            <description> <![CDATA[ 


Haynes Valley Information&nbsp;

Driving down Haynes Bridge yesterday afternoon, I noticed a new sign. Haynes Valley has been sitting empty now for over a year as many partially built-out neighborhoods have, but, I bet these will get scooped up very quickly once they hit the market. I tried calling Ashton Woods this morning with the extension on the sign, but, they don't have info yet.

If these sound interesting to you, contact me and I'll be sure you get set up so that you can get in on what is sure to be an outstanding deal.

As of right now, information is extremely limited but I did find some information from the city of Alpharetta's website and yes, this is Alpharetta, not Roswell or Johns Creek. See the map below.


There are 11 lots with a minimum 10,000 sq/ft per lot.

Zoned R-10 which is &quot;medium density residential&quot;




I hope this isn't too crude of a map as I just wanted to try to show the location as well as I could.

More Information

I will post a new entry about this neighborhood as soon as I get it. I think this is the short-term future for new construction and I think it is going to represent some of the best values in the market for the next couple of years. Currently, resales are having a difficult time competing with the distressed properties, but, if you can buy the lots at the right price, you can build new homes that are compelling values in this market.
 ]]> </description>
            <pubDate>Tue, 16 Mar 2010 11:29:23 -0400</pubDate>
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            <guid>http://www.premieratlantarealestate.com/blog/prices-in-crabapple-are-down-by-now.html</guid>
            <link>http://www.premieratlantarealestate.com/blog/prices-in-crabapple-are-down-by-now.html</link>
            <author>ryan@premieratlantarealestate.com (Ryan C Ward)</author>
            <title>Prices in Crabapple are Down, Buy Now</title>
            <description> <![CDATA[ 
I can't speak for all of the listings, but I sure can speak about the brand new baby we listed last night (the one to your left). It's in Crabapple Crossroads, it's brand new and it's only $300,000. Yes, that's right. $300,000. View the details here...

4 bedrooms, 3.5 bathrooms, 2 masters; one on the main level and one upstairs, granite kitchen. It's Crabapple Crossroads in Milton. It's everything you would expect except it's only $300,000. Here are a few details:

The address is 209 Roseville Place in Crabapple Crossroads located in the Crabapple Overlay District in the City of Milton on the north side of Crabapple Road and to the west of Birmingham Highway. The schools are Crabapple Crossing Elementary, Northwestern Middle and Milton High.


FMLS&nbsp;#: 4001683&nbsp;

4 Bedrooms

3.5 bathrooms

Master on Main

Master up

Walk-in closets in both masters

Separate jacuzzi tub/showers in both masters

Hardwoods in kitchen

Granite in kitchen


If you are interested, please hurry and call your agent or call me if you don't have one and I will make sure that you get into this home as quickly as we can schedule you. It really will not last long at this price.
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            <pubDate>Thu, 31 Dec 2009 08:44:31 -0500</pubDate>
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            <guid>http://www.premieratlantarealestate.com/blog/foreclosure-in-glen-abbey-80000-below-lowest-sold-in-neighborhood-alpharetta.html</guid>
            <link>http://www.premieratlantarealestate.com/blog/foreclosure-in-glen-abbey-80000-below-lowest-sold-in-neighborhood-alpharetta.html</link>
            <author>ryan@premieratlantarealestate.com (Ryan C Ward)</author>
            <title>Foreclosure in Glen Abbey $80,000 Below Lowest Sold in Neighborhood - Alpharetta</title>
            <description> <![CDATA[ 
This is one of those foreclosures where the bank finally has priced it right to sell. It's most recent sale was in April of 2007 for $575,000 and it's now on the market for $436,900. It's also about $80,000 below&nbsp;the least expensive&nbsp;home that sold in Glen Abbey in 2008 and over $250,000 below the most expensive sale in 2008. If you have looked at homes in Glen Abbey in the past, you would probably have a good feel for what type of floorplan it has as well as the condition of the interior. Honestly, at this price, I was expecting it to be in far worse condition than it is and I was definitely not expecting to see a basement finished out this well. At this price it's going to be a real bargain and put a new homeowner in a pretty solid equity position rather quickly.

The Glen Abbey Real Estate Market

Up until a couple of years ago, Glen Abbey was really considered one of the very best neighborhoods in Alpharetta and was extremely sought after. With all of the new construction that has been built, interest in the neighborhood leveled off (still at a higher than normal level) because many of the homes were beginning to show there age. You would find them to have Corian counters and honey colored hardwood floors and lots of homes with wallpaper - not exactly what buyers in today's market are looking for. Still, the neighborhood has appeal as one of Alpharetta's more established swim/tennis neighborhoods and a reputation for well built homes and a neighboorhood that is less homgenous than many of the newer comparably priced options. Now with most new homes gone or no longer the value that they were once perceived, neighborhoods like Glen Abbey are returning to more popular positions.

Right now, there are 12 other&nbsp;active homes and one under contract. Prices on those homes range from $575,000 to $700,000 and sold homes in the last three months range from $575,000 to $650,000. You can view all of the Glen Abbey homes for sale here. This also means that the supply of homes in Glen Abbey is lower than the greater surrounding area so there should be less worry about further price declines as far as what we know to be the market right now.

And then there is this home. It was originally listed for $575,000 and now the bank has wised up. At $436,900, it's no longer even really possible to adjust this home up in value with the surrounding neighborhood and have it stay within Fannie Mae and Freddie Mac underwriting guidelines. In other words, it's a bargain. Here is a link to the details page for this home. It's listed with Harper Real Estate Services, Inc.

Here are some addtional pictures:

&nbsp;

&nbsp;



What Kind of Work Does it Need?

Well, as a home built in 1999, it has the usual dated interior appointments, corian counters, dirty carpet and walls that need painting and wallpaper that need to be removed. All things you should expect when looking at a home like this. Of course, the bathroom still has all of that romantic contractor grade brass that everyone so loves if that's your thing, but, I suspect you'd want to change that out as well. Otherwise, it doesn't immediately scream as a money pit. Jim Cowart built homes don't fall in the category of poorly constructed homes.

Why is This Home a Deal?

It's a deal because you could update this home to today's standards and have a positive equity position. It has a 3 car garage, a finished basement with a second kitchen, smooth (not dropdown) ceilings and it's the full footprint of the house, it's brick and Hardiplank, you can't beat the location, the schools are excellent and it's priced WAY under market.

When Can You See It?

Call me. If I can't get you in it today, one of my partners on my team can. It's a great deal, it's way below market, it's a great neighborhood and it's definitely going to make a new homeowner proud. Plus, where it's priced, you won't need to fool around with a jumbo loan so all time record interest rates will apply! If your looking now or will be this summer, it might be time to jump off the fence. The key to actually getting one of those deals you hear about on the news is to actually buy something when the deal is right in your face. 
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            <pubDate>Wed, 28 Jan 2009 07:57:47 -0500</pubDate>
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            <guid>http://www.premieratlantarealestate.com/blog/unbelievable-deal-for-an-investor-in-alpharetta-under-120000.html</guid>
            <link>http://www.premieratlantarealestate.com/blog/unbelievable-deal-for-an-investor-in-alpharetta-under-120000.html</link>
            <author>ryan@premieratlantarealestate.com (Ryan C Ward)</author>
            <title>Unbelievable Deal for an Investor in Alpharetta Under $120,000</title>
            <description> <![CDATA[ 
You want a deal? This is a deal. It will be gone within the week. It's on the market for $118,900. This is the type of property that&nbsp;could turn a positive cash flow in 60 days if you are skilled investor. It needs paint and it needs carpet, but, it seems like a pretty decent house.

The school districts are very good; Northwood Elementary, Haynes Bridge Middle and Centennial High. It's a 3 bedroom 2 bath home with a fenced backyard on a little side street located off of Haynes Bridge Rd. This is the type of property that sold for mid $160's last year and will be there again before long. In the meantime, it would be a great investment property that should net positive rents immediately and possibly a ridiculous return on your investment if the market turns - even if it takes 2-3 years to do so.

Here are a Few More Photos

&nbsp;

&nbsp;

The property has aluminum siding which, is better than the vinyl on many of the other houses in the neighborhood because you can at least paint it and it's a completely level lot. The biggest functional drawback is that the home only has a one car garage but a long enough driveway to park another car in front of the garage and off of the street.

Call me if you want to go see this house and I'll see if I can help you crunch some numbers to see if you can make it work. It's a great deal and it really will go fast. As with many homes we talk about, this one is not my listing. It's listed with Keller Williams. You can see the full details of the property here.

Any questions? Leave a comment or if you prefer, fill out the contact form in the top right of the page. My number is 404.630.3187. I've sold several homes in this neighborhood over the years and I know exactly what this home is worth. Call me and lets go see it. As of 3:00 p.m. and according to the listing agent and the REO service, this home has no offers. Move quickly.

&nbsp;
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            <pubDate>Tue, 27 Jan 2009 14:53:24 -0500</pubDate>
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            <guid>http://www.premieratlantarealestate.com/blog/homes-for-sale-in-zip-code-30004-sales-down-prices-up-but-are-they-really.html</guid>
            <link>http://www.premieratlantarealestate.com/blog/homes-for-sale-in-zip-code-30004-sales-down-prices-up-but-are-they-really.html</link>
            <author>ryan@premieratlantarealestate.com (Ryan C Ward)</author>
            <title>Homes for Sale in Zip Code 30004 - Sales Down, Prices Up, but are They Really?</title>
            <description> <![CDATA[ 
I suppose it depends on how you spin the statistics and I really don't intend on doing that. The general statistics don't really show a decline in prices and that just doesn't seem to feel right so I set out to separate the market into more manageable segments to see if some segments are performing better than others thereby skewing the total statistics. My hypothesis was that the resale market below $750,000 (this is anywhere bnetween 80% and 90% of the market) was doing something&nbsp;worse than the market as a whole. In other words, one portion of the market might be making the total&nbsp;market appear as a much better market than what most sellers and agents are actually seeing.

As I start this post, let me first explain what I did. My goal was to separate out and use&nbsp;the majority of the market - this is the segment that I am concerned about because it is the part that will be most meaningful to the majority of people and can help to shed some realistic light on what you need to do with your price if you really want to sell your house. So, I eliminated all homes that sold above $750,000. The chart below shows how little of the market it represents, how it performs and should help to indicate why it is not giving a true representation&nbsp;of homes for sale in zip code 30004.
 


FusionCharts. 
 


&nbsp;

The Big Lie: North Fulton is Fine, Sales Prices are up and&nbsp;the Market is Strong&nbsp;

Nothing could be farther from the truth. Most of us who work here know it - even if it's more difficult to&nbsp;ascertain through statistics&nbsp;as you need to dig deep to find out why. The total number of sales of homes above $750,000 represents 10.5% of the total sales and more importantly - what happens in this segment of the market has very little (if any)&nbsp;impact on the other 90%. Now we can focus on what is actually&nbsp;happening in the market.&nbsp;This year, the average sales price of homes for sale in our target segment is $330,729 with a total of 119 sales. For same time period in 2007, the average sales price was $355,582 with 135 sales. This is a 7% decline in prices and a 12% decline in sales volume. So now that we know for sure that the majority of the market is down considerably, we can look at what is happening now and what we think will happen going forward, when the market will improve and what forces will affect that outcome in the near term (Spring 2009) and the intermeddiate term (next couple of years). Long term will be fine for many reasons that you probably already understand.

All of this is more in line with what we are seeing in the greater Metro Atlanta real estate market and won't be returning anytime soon. The 2 real estate factors that will affect this more than anything else is the lower availability of loans and a supply that is still too high. New housing starts remain low, but, the sales volume isn't really there to reduce the supply quickly enough to bring supply and demand back into balance for at least another year. We aren't likely to see the sales volume increase to pre-subprime meltdown for years so that leaves lower supply as the only direct real estate factor that can mitigate continuing declines in prices. This means we cannot have any more new construction start anmd hopefully the real estate cheerleaders will stay quiet through spring of 2009 and not lend flase hope to sellers who will then have unrealistic expectations and list their homes at inflated prices.

So, No. Prices are not really up. If you would like to call that spin because I eliminated a segment that I don't believe helps to draw an accurate conclusion on the rest of the market, please feel free to go ahead. I call it a pragmatic look at the realities of the market. The reality in zip code 30004 as with all other areas of North Fulton is that prices, generally speaking, are likely to continue to slide a bit more. It doesn't meen that you can't find a deal now that is already at the bottom, but, it does mean that you should be cautious about any purchase you make and do so only once you have had an opportunity to really understand the forces at work in the market right now.
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            <pubDate>Mon, 22 Dec 2008 15:20:25 -0500</pubDate>
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            <guid>http://www.premieratlantarealestate.com/blog/alpharetta-real-estate-sales-down-prices-relatively-constant.html</guid>
            <link>http://www.premieratlantarealestate.com/blog/alpharetta-real-estate-sales-down-prices-relatively-constant.html</link>
            <author>ryan@premieratlantarealestate.com (Ryan C Ward)</author>
            <title>Alpharetta Real Estate Sales Down, Prices Relatively Constant - What Happens Next?</title>
            <description> <![CDATA[ 
When sales volume goes down and&nbsp;inventory stays the same, what happens to prices? This would be something like Economics .101 - A Middle School/High School level economics question. The answer should be obvious - over time, prices will fall setting in motion a series of events which ultimately will bring inventories back in line with sales volume as the pendulum swings in the other direction. It makes sense, but, it's not what we see hapening in Alpharetta and some other areas of North Fulton. It may mean however that prices will fall, but, conventional wisdom would leave me to believe that it would have alread been happening. This first chart shows the decline in sales volume for Alpharetta:

Sales Volume in Alpharetta 2007 vs. 2008





The second chart here shows the sales prices from 2007 to 2008 and if you look closely at the chart, there really isn't anything indicating a drop in prices:

Sales Prices for Alpharetta 2007 vs. 2008





Outside of the price change in October of 2008, there is nothing to indicate that prices are falling and no, a one month decline like that is not enough to draw any conclusions whatsoever. If we see three months of year-to-year sales drops then we will have a trend.

What Happens Next?&nbsp;

I am of the opinion, personally, that there is absolutely nothing that can be done to increase sales volumes to 2006 and 2007 levels short of reinstating subprime loans and I wouldn't wish that on anyone or any real estate market. It is one of the leading causes of why we are where we are right now. Lower interest rates could help, but, not enough to increase sales volume back to pre-slowdown numbers. There aren't really very many variables that can change; sales volume, prices and inventory along with the local and national economy. Each of these has a subset of variables that can affect any and all of them. So which of these variables is likely to change in the near future?

Sales volume? I don't think so. Like I said, lower rates will help some, but, we cannot replace the number of loans available compared with how many were available while we had the subprime loans simply by lowering interest rates. So there isn't anything that will shake up this variable.

Prices? For many of us actively selling real estate right now, it's apparent that the majority of buyers do not see value at the current prices. This is helping to keep volume down. Many people who would sell simply do not have the equity to sell at the current prices it would take to sell there home. There is a real chance that we will see prices go down, but, as of right now, it hasn't happened. Lower prices could increase sales volume reducing inventory, but, at what cost to more homeowners if prices go down?

Inventory? How does inventory drop if sales volume is down? Either less people list their homes (not likely), prices drop or more loans become available. None of which is happening right now.

Alpharetta homes for sale have been affected less by the slowdown than many other areas, but I'm not sure that it can be sustained forever. With a local, state and national economy all in a recession and consumer confidence very low, we need either time or some yet to be seen market force enter into the equation if the market is to return to a more balanced state any earlier than 2010.
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            <pubDate>Wed, 17 Dec 2008 10:31:36 -0500</pubDate>
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