Local Real Estate Comments and Ramblings

I have blogged about recent sales activity for both Cobb County and for Echo Mill subdivisionin the past. Today I wanted to do something a little different. I went back over the last 36 months and broke that down in to 12 months periods to get a historical look at the price history for Echo Mill.

This information is from sales data compiled from FMLS and is believed to be accurate but its guaranteed.

March1, 2006 -Feb 28,2006  35 Homes sold for an average price of  $291,470

March 1, 2006 - Feb28,2007 37 homes sold for an average price of  $288,513

March 1,2007 - Feb 29,2008 23 homes sold for an average price of  $309,971

I think the drop in price reflected in the middle figure was a result of the conflict regarding the high school redistricting.  During that period there were a very high number of homes for sale and some people sold for a lower price just to get the homes sold.

Whatever the reason it seems that the neighborhood prices have rebounded nicely. 

To see all of the homes currently for sale in Echo Mill please visit www.EchoMill.info

To see homes for sale all over Powder Springs please visit www.PowderSpringsHomes.info

In the past I have done market reports for both Cobb County and for Country Walk Subdivision. This is a little different.  this time I went back for the last 3 years to look at things in a long term perspective. For Comparison I also looked at the same time periods for the surrounding neighborhoods of Legend Hollow, Peach Plantation, and Country Cove.

This information is taken from FMLS is believed to be accurate but guaranteed. The Country Walk figures do not include sales from Country Walk Estates. 

Average Sale Price over 12 month period

March1,2005 - Feb 28,2006   Country Walk(34 Homes) $172,638    Surrounding(23homes) $153,362

March1,2006-Feb28,2007      Country Walk(46 Homes) $174,010    Surrounding(31homes) $154,648

March1,2007 - Feb29,2008    Country Walk(23 Homes) $168,795    Surounding (17homes) $152,642

So there it is. While it could be argued there is some room for statistical variations, I don't think that there is any doubt that prices for the area are down. Its not pretty but it is nowhere near as bad as in some other parts of the country.

For more information about Country Walk subdivision and to see homes currently for sale visit www.MyCountryWalkHome.info

To view homes for sale in Powder Springs please visit www.PowderSpringsHomes.info

Its that time again ... Spring Yard Sale at Country Walk Subdivision. The Country Walk social committe is proud to announce that his year we have at least 38 households participating!

 See the Yard Sale Map    See the partial list of items for sale

We also have at leat 15 residents donating "leftover" items to the American Kidney Fund. The Kidney Fund will be picking up late Satuday afternoon.

Next week is Powder Springs "Reside With Pride" week.  The sanitation department will pick up just about anything on our regular Wednesday pick up day. So if you have stuff that doesn't sell (and its too crummy to donate) just put it out by the curb next Wednesday.

For more information about Country Walk Subdivision visit www.MyCountryWalkHome.info

Everybody who live in this area knows that Country Walk is the heart of Powder Springs. We have a great neighborhood with fantastic amenities. Residents in Country Walk are also aware that my wife and I have taken over the duties of the social committee.

We feel that an active socail life is the most valuable amenity a neighborhood can offer. Our social gatherings are what make Country Walk so much more than just a neighborhood with a pool, tennis, and our own convenience store.

One of the big events of the year is our annual Easter Egg Hunt. This year we even had a special visit from the Easter Bunny!    As you can see not every body was totally thrilled with the visit....    

Although many folks came out with kids and a great time was had by all.

Especially the Easter Bunny!

I don't know why I remember this.  I learned it when i was a kid and tell it every year around this time. You need to read all three parts to really appreciate it. 

Knock Knock

Who's there?

Ether

Ether who?

Ether Bunny!

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Knock Knock?

Who's there?

Cargo who?

Cargo beep beep ... run over Ether Bunny :-(

**************************

Knock Knock

Who's there?

Boo!

Boo Who?

Don't cry ... New Ether Bunny will be back next year!

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Yeah I know it's a real groaner but I bet at least a few of you run and tell it to your kids.

Happy Easter

The Atlanta home market is pretty tough right now but I'm sure no where near as tough as some other parts of the country.  See my recent post for Cobb County Stats. Howeverover the last year and over the long haul haul the Atlanta Market has been very steady.

Prices for 2007 were up slightly. I thnk what is really impressive is the fact that we have only had 3 quarters since 1977 where prices dropped.  These were 3q of 1990 through 1q 1991.

We don't gert the big rushes like some parts of the country saw in the last few years but no roller coaster ride either.

Here are the complete stats from the Office of Federal Housing oversight.

Four-Quarter Percent Change in OFHEO MSA-Level House Price Indexes
(2007 Q4 Data) 

If you are serious about selling your Cobb County Georgia home then you need to look seriously at your competition.  As with any statistics, they can be interpreted many different ways. Of course all markets are local. There will be differences between East Cobb and West Cobb. Whether your home is in Marietta, Kennesaw, Acworth, Powder Springs, Smyrna, Vinings, Austell, or Mableton will make a difference in the pricing and marketing of your home.

Here are the most recent sales figures available from Jan '08, according to realist data in FMLS.

Here is the copy from the Marietta Daily Journal  for the current foreclosure ads.  these are homes currently being advertised for foreclosure on the first Tuesday in April.                          

Cobb County Legal Notices

0801 Foreclosures (566)

Not all of those 566 will be foreclosed.  And some might be commercial properties or land.  some of them are complete developments that the builder/developer has defaulted on.  However it shakes out, that is whole bunch of homes that will be entering the market as banked owned foreclosure homes.  This will be a significant amount of the homes on the market competing against your home and other traditional (non foreclosure) home-sellers.  This is the competition.

If you want to sell against highly motivated banks:

1.Your home needs to be in very good to excellent condition.  Make it the best choice for prospective buyers

2.You need to price it right.  Not necessarily give it away but now is not a time to be greedy by any means.  Sell the house for less than what you might want and go make a great deal on the house your buying to make up for it.