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Real Estate Report June Special Section
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North Atlanta’s
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June 2014
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News and advertising for new homes, realtors, developers, commercial properties and more.
Kloster Group records $6M home sale in Roswell By ALDO NAHED aldo@northfulton.com ROSWELL, Ga. — Atlantabased FrontDoor Communities has bought a little over 16-acres in downtown Roswell listed for $6.9 million. Peter and Allision Kloster, of the Kloster Group, along
with the Roswell Home Team of Harry Norman’s North Fulton office were the agents involved in the nearly $6 million sale of the historic estate located 109 Goulding Place off Canton Street on May 22. “As it turns, this is one of the largest sales in the city this year and certainly the largest
one for Harry Norman,” Peter Kloster, who along with Allison Kloster sold the property. Peter Kloster said the sale is great for downtown Roswell because it will bring about 40 new affluent housing units to the area. The Roswell location is within walking distance of res-
taurants and shops. “They will support and patronize the downtown Roswell businesses,” Peter Kloster said. Allison Kloster said the process of taking a historic home through a rezoning process was a major hurdle. The Goulding Place estate, built in 1857 and listed on the
Georgia Register of Historic Places, will remain and be incorporated in FrontDoor Communities’ future design plans. In addition, Goulding Place will be extended to connect with Windy Pines Trail to prevent increasing traffic on Canton Street. “One of the criteria that will be required by the community is to preserve the historic home,” Peter Kloster said. “The historic home and about an acre-and-a-half have been carved out of the development and will be incorporated as a central structure to the community.” The Goulding Place will receive some modern amenities such as a garage, but beyond that, the structure will remain a central part of the finished development. Harry Norman was able to connect the buyer and seller, Bill Miller, together with the Kloster Group. Real estate agents Peter and Allison Kloster, who represented the seller, worked with the Roswell Home Team agents Laura Hamling, Anne Chamberlin and Tricia Frame, representing the buyer, Front Door Communities to negotiate this sale. The Goulding Place estate is comprised of the elegant main home that features five bedrooms and five and a half baths, 10 foot ceilings, Pine hardwood floors, gardens and out buildings including a two bedroom guest house. The new owners of Goulding Place, Front Door Communities, an Atlanta-based real estate management and development company, plan to include upscale single family homes as well as townhomes that are in keeping with the look of Historic Roswell. The development will start immediately and take two years to complete. FrontDoor Communities is also developing Traditions, a master planned community in south Forsyth County near Fowler Park. For more information on Harry Norman, REALTORS, visit www.harrynorman.com. For more information on FrontDoor Communities, visit www.frontdoorcommunities.com.
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Home improvements
New Atlanta North office
By: JULIE MARTIN, Atlanta Fine Homes
By BILL RAWLINGS
If you are trying to sell your home or have recently moved into a new home, you may be looking to get the best bang for your buck in the area of home improvements. Home improvements can increase the value of your home when looking to sell and by making sensible, low cost upgrades, you will not have to spend too much on a home you are soon to leave. Many are also looking to save money updating a home they have recently purchased. Here are some tips on how to get the best bang for your buck in the home improvement area. The kitchen is the gathering place of a home and some updates in the kitchen can really make it stand out. By removing outdated appliances and updating to stainless steel appliances and granite countertops, you will be able to increase your return. According to Realtor.com, a minor kitchen remodel could increase your return on investment by 83% and in a strong market, a
new kitchen could return everything you paid and more. Upgrade the master shower to a frameless glass shower, replace the MARTIN fixtures and install a new vanity and countertops in the master bathroom. The best rooms to splurge on are the kitchen and bathrooms. New carpet gives a room a clean, fresh look. A neutral color carpet is the best option to go with over colored or bold printed carpets. You can also try to clean the carpets before purchasing new carpet. On the interior of the home, repaint with natural, soft tones. Too many colors can be overwhelming for some. With neutral colors, your walls and home will have the feeling of being updated. You are guaranteed the best bang for your buck when updating these items in your home!
Vice President/Managing Broker North Atlanta Office Atlanta Fine Homes Sotheby’s International Realty The North Atlanta market is one of the shining stars in the Atlanta real estate market, so it was only fitting that Atlanta Fine Homes Sotheby’s International Realty would establish our North Atlanta office in Sanctuary Park. Our phenomenal school systems, coupled with a thriving business economy, attract many buyers to our area. As a matter of fact, we bring so many buyers that we have a real estate problem in North Atlanta. It’s not the problem we had to deal with through the
recession though: Now it’s the shortage of inventory. This inventory shortage, along with increased demand and historically low interest rates, is driving the surge in North Atlanta. In the real estate business, we call anything less than six months of inventory a “Seller’s Market.” The inventory in Alpharetta has dropped to 2.5 months over the same time last year, which shows the great demand in our market. The median sales price has increased 8.2%, which is reflective of an average price per square foot increase of 13.1% over the same time last year. So if you have ever thought of selling, or know anyone that is thinking of selling, it cannot be stressed enough that now
is the time to put your home on the market. As a result of having nearly 10% fewer homes on the market than the same time last year, RAWLINGS bidding wars – pitting buyers against other buyers for the same home – have become common. Should you want further information on how the market for your particular home is performing, please reach out to someone on my team. We would be happy to meet with you personally. We look forward to the opportunity to earn your business.
Existing homes can offer buyers more options If you haven’t already noticed, new home construction is back in full swing in our area. Everywhere you go in Forsyth County and North Fulton, there are trucks carrying lumber and building supplies to new home sites. This activity is only going to increase as we head further into summer. According to information from the Multiple Listing Service (MLS), approximately 20 percent of sales year-to-date have been new homes in Forsyth County, 5 percent in North Fulton have been new. The actual number is quite higher due to the fact that pre-sales don’t get entered into the MLS. Either way, the percentage of new home sales will continue to rise as more homes are built. Unfortunately, with all the new home construction many
home buyers are priced out of the new home market. The average sales price year-to-date for new construction in Forsyth County is $345,920 and for resale inventory the average is $310,445, a difference of 10 percent, which doesn’t seem that significant. However, only 10 percent of new home sales are under $250,000 compared to 26 percent of the resale inventory. In North Fulton the difference is far greater. The average sales price for new homes is $659,651 year-to-date compared to $408,398 for existing - a difference of 38 percent. As if you didn’t know, there are no new homes in North Fulton available under $250,000, but 9 percent of existing inventory sales fall into that price range. So, what does all this mean? To the buyer who
ROBERT STRADER
Local Realtor Keller Williams Realty
says to themselves they absolutely want, must have, will only consider new construction; then you know you’ll be buying in a higher than average price range to get what you want. But to the buyer who isn’t sure, you’ll have to ask yourself if having something brand new is worth a premium over an existing home that may offer more square footage, a larger lot, finished basement and mature landscaping for less money.
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Roswell Home Team
makes record sale in North Fulton of 109 Goulding Place WHY ARE WE DIFFERENT?
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With our knowledge of the current market and our combined areas of expertise, we have the ability and sensitivity to ease the transition of selling or buying a home for you.
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WHAT OUR CLIENTS SAY “Laura, Anne, and Tricia were outstanding to work with. Would definitely recommend or use any of them again. Thanks for the great advice and service with a smile!!!” ~James and Kimberly “The team concept works GREAT! Someone was always available for ~Leslie all of my needs.”
Listed for $6,900,000 by The Kloster Group and Sold by Roswell Home Team
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340 Buckingham Forest - Litchfield Hundred $650,000 FMLS: 5253443
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425 Courage Court - Wingfield Gates $594,000 FMLS: 5256818
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176 E Kytle Street $700,000 - FMLS: 5042848
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10660 Stroup Road FMLS: 5252597
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108 Chickering Parkway FMLS: 5226289
585 Glenforest Road FMLS: 5245004
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115 Crabapple Way FMLS: 5215246
ROSWELL HOME TEAM TRICIA FRAME 770-855-0257 LAURA HAMLING 404-432-3973 ANNE CHAMBERLIN 678-427-1241 NORTH FULTON OFFICE | 7855 North Point Parkway, Suite 100 | Alpharetta, GA 30022 | 678-461-8700 The above information is believed to be accurate but not warranted. Offer subject to errors, changes, omissions, prior sales, and withdrawals without notice. Equal Housing Opportunity.
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Public schools are important By: CARROLL CUNNINGHAM Strong public schools are an important facet of any housing market. The difference between a good elementary and a great elementary school can translate into thousands of dollars. Home buyers will stretch their budgets $10,000 to $15,000 more to get into an area where the schools have been ranked high academically. Good schools equate to a more vibrant community. If the real estate market is hot in a particular area… so is the local economy. It has been shown that there is a definite correlation between the school system and the real estate market. The Rand Corporation did a study for the city of Santa Monica, CA and found 4 major impacts made by the school system on the community. They were: Housing values, crime rate, tax revenues and civic participation. There was also strong evidence that the quality of education impacted the physical and mental health in the community. A one year increase in the average education levels showed a substantial reduction that same year in major crimes – 27% fewer murders; 30% fewer assaults and 20% fewer motor vehicle thefts. The study noted that a 1% increase in the average school district reading or math scores equated to a .5% to 1% increase in property tax revenue. The higher housing values, the higher the property tax revenues are for the community. Schools definitely impact our community. Another impact comes from our
community leaders. They must be made aware of a very dangerous term, “Student Mobility.” This refers to the phenomenon of students changing schools for reasons other than grade promotion. Frequent CUNNINGHAM movement of students from school to school puts those students at greater risk for academic and behavioral problems. Many drop-out students have been victims of frequent school change. Housing is the most important issue that must be addressed with this critical problem. Often times a family moves due housing being cheaper for the family. When this movement occurs, and schools end up with a 40 to 60% mobility rate, the quality of the education for all students in the system are impacted. Being a Principal and teacher for 30 years, I know how important schools are to the community. It is so essential for the community leaders, the school system and the real estate companies that operate in that community to work together to preserve high academic standards for our clients. We all must remember that students are clients; the citizens who live in our area are clients; and new buyers and sellers of homes are clients. They definitely deserve our cooperation in working together to give them an outstanding community in which to live, work and grow.
Fabulous Forsyth & Fulton County Locations! Live in One of These Prestigious Counties with Fantastic School Systems, Recreation and Much More! Fulton County Cedar Park
(Milton) 678-867-6782 Homes From the Low $600’s
Bethany Crossing Now Selling!
(Alpharetta) 678-867-6782 Homes From the $340’s
Briarcrest - Coming Soon! ManorView - Coming Soon! (Alpharetta) 770-205-8141 (Milton) 770-205-8141 Homes From the Mid $500’s
Forsyth County Waterstone Falls
(Cumming) 404-281-2400 Homes From the Low $500’s
Arbors at LakeView Now Selling!
(Cumming) 770-500-8635 Homes From the $310’s
Homes From the $280’s
Bridleton - Now Selling! (Suwanee) 770-344-7854 Homes From the $400’s
Marketplace Commons Coming Soon! (Cumming) 678-513-1481 Homes From the $270’s
Post Preserve
(Cumming) 770-205-8141 Homes From the Low $400’s
Ravens Ridge
(Cumming) 470-253-8825 Homes From the High $400’s
Edgebrook at James Creek (Cumming) 678-513-1481 Homes From the Low $300’s
The Summit at Shiloh
(Alpharetta) 470-253-8825 Homes From the Low $300’s
Seneca
(Cumming) 404-281-2400 Homes From the Low $400’s
(Cumming) 470-253-8825 Homes From the $350’s
Visit ryland.com for more information. RA1543
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In the Atlanta division, prices, plans and specifications are subject to change without notice. Photographs and or renderings are for illustrative purposes only. Information believed to be accurate but not warranted. See Sales Counselor for details and a complete list of HouseWorks® features. © 2014 The Ryland Group, Inc.
Historic Roswell attracts new development Roswell was recently voted the #1 city in Georgia because of its quality of life, cost of living and low crime index (source Movoto Real Estate Blog). Roswell is fast becoming the most vibrant and exciting city in Georgia. Anyone who has attended Alive After 5, the numerous art festivals, Roswell Cycling Festival or the annual Youth Day Parade would agree. Along with this excitement is a new development off Canton Street in Historic Roswell. Roswell Home Team (RHT), a partnership of Anne Chamberlin, Tricia Frame and Laura Hamling, has just closed the deal with their buyer, FrontDoor Communities, on the record sale of 16+ acres at 109 Goulding Place. This property will be developed as single family homes and townhomes with the historic mansion as its centerpiece. The character of the homes will be in keeping with the design and style of Historic Roswell. The location is in walking distance to all the amenities in the Historic District which provides a diversity of shops, restaurants and businesses. The City of Roswell is quickly becoming a walkable community: a livable, sustainable place that provides its residents safe transportation choices and improved quality of
life. Increased walkability benefits all ages & improves physical fitness and social interaction. Roswell plans for a walkable community through an accessible and connected network of sidewalks and multi-use trails. RHT is excited to bring their resources to their hometown of Roswell. They have already closed over $13m in sales in their first year as a team and have another $6m in listings & under contract this year. Chamberlin, Frame & Hamling have been involved in Real Estate in the Roswell area for over 30 years and are Million Dollar Club members. Their other interests and associations include serving on the City of Roswell Design and Review Board, Roswell Woman’s Club, PTA Boards, Child Development Association, STAR House, Meals on Wheels, Greater Atlanta Home Builders, Atlanta Board of Realtors and the National Association of Realtors. Our philosophy is simple: “We use our passion for and knowledge of Roswell to help our clients buy or sell their properties. We live and breathe Roswell.” For information on the Roswell area please contact Anne Chamberlin (678-427-1241) Tricia Frame (770855-0257) or Laura Hamling (404432-3973).
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