Archive for January, 2009
December Existing Home Sales Gain!
Posted By Matt Hermes on January 28th, 2009
Existing-home sales rose unexpectedly while inventory declined, according to the National Association of Realtors® which is good news for the national and local real estate market.
Are we out of the woods yet? Probably not, but this is still good news, and boy does the real estate industry and homeowners need it.
Existing-home sales – including single-family, townhomes, condominiums and co-ops – jumped 6.5 percent to a seasonally adjusted annual rate of 4.74 million units in December. This number compares to a downward revised pace of 4.45 million units in November.
For all of 2008, there were about 4.9 million existing-home sales — 13.1 percent below the 5.65 million transactions recorded in 2007.
Lawrence Yun, NAR chief economist, said home prices continue to fall significantly.
“It appears some buyers are taking advantage of much lower home prices,” Lawrence Yun, NAR’s chief economist stated. “The higher monthly sales gain and falling inventory are steps in the right direction, but the market is still far from normal balanced conditions. Buyers will continue to have an edge over sellers for the foreseeable future.”
Total housing inventory at the end of December fell 11.7 percent to 3.68 million existing homes available for sale, which represents a 9.3-month supply at the current sales pace.
Housing Stats
The national median existing-home price: (for all housing types) was $175,400 in December, which is 15.3 percent below December 2007 when the median was $207,000.
Single-family home sales: rose 7 percent to a seasonally adjusted annual rate of 4.26 million in December from a level of 3.98 million in November.
Currently 45 percent of sale transactions are distressed or foreclosed properties.
Single-family home sales: rose 7 percent to a seasonally adjusted annual rate of 4.26 million in December from a level of 3.98 million in November.
Existing-Home Sales in the South rose 7.4 percent to an annual pace of 1.74 million in December, but are 11.2 percent lower than December 2007. The median price in the South was $158,600, which is down 8 percent from a year ago.
Rick Frissell- Chauffeur to the Stars
Posted By Rick Frissell on January 28th, 2009
Day 1 as a chauffeur is all about training. Would you believe there are over a hundred Power Point cells for training. Thank goodness the real estate exam was easier. (Just kidding)
Some rules are obvious, such as, no smoking in the car. Now I have never smoked so that is no big deal. But, would you believe we are not to offer our hand for hand shake to greet our client? The reasoning: There is an increasing concern about the spreading of germs and we are to never put our clients in an embarrassing position of refusing or not wanting to shake our hand.
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Gwinnett County Real Estate Town Hall
Posted By Matt Hermes on January 28th, 2009
For the last several years, we been producing a year end report about the real estate market in Hamilton Mill. Since Diamond Dwellings opened it’s doors in late 2006, we’ve worked as a team to analyze the larger Gwinnett County real estate market and provide great information to our friends and neighbors who own property here.
I also worked together with my business partner, Matt Fagioli to plan the annual Real Estate Town Hall meetings so we’d all have a place to get together, talk through the numbers and try to make sense of the current market “situation”.
This Year’s 1st Gwinnett Town Hall is on February 17, 2009 at Hamilton Mill Golf Club.
Hope you can join us for a powerful discussion – not only about local real estate – but also about the larger economic environment that surrounds & of course deeply effects the real estate market.
We’ll start our evening at 6pm with light appetizers, soft drinks & a cash bar.
At approximately 6:45pm, the real estate presentation will begin. You can expect to receive great information about the 2008 real estate sales results as well as our 2009 outlook & analysis.
We’ve also invited an amazing group of local market experts & leaders to share in our “town hall” format. I can’t wait to hear what they have to say about today’s market!
We’re working hard to bring you the very latest information. Bring your notepad!
See you there!
December Existing Home Sales Gain!
Posted By Matt Hermes on January 28th, 2009
Existing-home sales rose unexpectedly while inventory declined, according to the National Association of Realtors® which is good news for the national and local real estate market.Are we out of the woods yet? Probably not, but this is still good news, and boy does the real estate industry and homeowners need it.Existing-home sales – including single-family, townhomes, condominiums and co-ops – jumped 6.5 percent to a seasonally adjusted annual rate of 4.74 million units in December. This number compares to a downward revised pace of 4.45 million units in November.
For all of 2008, there were about 4.9 million existing-home sales — 13.1 percent below the 5.65 million transactions recorded in 2007.
Lawrence Yun, NAR chief economist, said home prices continue to fall significantly.
“It appears some buyers are taking advantage of much lower home prices,” Lawrence Yun, NAR’s chief economist stated. “The higher monthly sales gain and falling inventory are steps in the right direction, but the market is still far from normal balanced conditions. Buyers will continue to have an edge over sellers for the foreseeable future.”
Total housing inventory at the end of December fell 11.7 percent to 3.68 million existing homes available for sale, which represents a 9.3-month supply at the current sales pace.
Housing Stats
The national median existing-home price: (for all housing types) was $175,400 in December, which is 15.3 percent below December 2007 when the median was $207,000.
Single-family home sales: rose 7 percent to a seasonally adjusted annual rate of 4.26 million in December from a level of 3.98 million in November.
Currently 45 percent of sale transactions are distressed or foreclosed properties.
Single-family home sales: rose 7 percent to a seasonally adjusted annual rate of 4.26 million in December from a level of 3.98 million in November.
Existing-Home Sales in the South rose 7.4 percent to an annual pace of 1.74 million in December, but are 11.2 percent lower than December 2007. The median price in the South was $158,600, which is down 8 percent from a year ago.
Bring Your Notepad to the Gwinnett Town Hall, Feb 17th at Hamilton Mill Golf Club
Posted By Matt Fagioli on January 28th, 2009
For the last several years, I’ve been producing a year end report about the real estate market in Hamilton Mill. I started this in 2005 while I was an agent at Keller Williams Realty. Since Diamond Dwellings opened it’s doors in late 2006, we’ve worked as a team to analyze the larger Gwinnett County real estate market and provide great information to our friends and neighbors who own property here.
I also worked together with my business partner, Matt Hermes to plan the annual Real Estate Town Hall meetings so we’d all have a place to get together, talk through the numbers and try to make sense of the current market “situation”.
This Year’s 1st Gwinnett Town Hall is on February 17, 2009 at Hamilton Mill Golf Club.
Hope you can join us for a powerful discussion – not only about local real estate – but also about the larger economic environment that surrounds & of course deeply effects the real estate market.
We’ll start our evening at 6pm with light appetizers, soft drinks & a cash bar.
At approximately 645pm, the real estate presentation will begin. You can expect to receive great information about the 2008 real estate sales results as well as our 2009 outlook & analysis.
We’ve also invited an amazing group of local market experts & leaders to share in our “town hall” format. I can’t wait to hear what they have to say about today’s market!
We’re working hard to bring you the very latest information. Bring your notepad!
If you plan to come, please let us know by signing up here (it’s free!)
See you there!
