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Real Estate Report September Special Section

News and Advertising for New Homes • Realtors • Developers • Commercial Properties • and more

September 2013

A L P H A R E T TA • C U M M I N G • C H E R O K E E • D U L U T H • F O R S Y T H • G W I N N E T T • J O H N S C R E E K • M I LT O N • R O S W E L L • S U WA N N E E

Move-up buying gets easier By Eve Jones Many homeowners have been sitting idly, biding their time for the right moment to buy a larger, more upgraded home. Until very recently, moveup buying seemed impossible since home prices were declin-

ing and home sales were slow. The market has transitioned where the values in North Atlanta are steadily improving and homes are selling in less time. So, now move-up buyers are faced with the possibility of a quick sale on their own

home, but have nowhere to land without using temporary housing. There are ways to buy first and sell your current home later. Strong buyers with good credit and assets may qualify to buy their new home, using a first and second mortgage.

Later, in their preferred timeframe, they would be able to sell the original home - ultimately using the proceeds to eliminate that second mortgage. There are even lending options called renovation loans for buying fixer-uppers without having to sacrifice a lot cash.

Your Distinctive Home Here Call today to discuss how I will position your luxury property in front of your perfect audience. Evelyn Lewis-Wilson 770-905-5089 evelyn.lewiswilson@era.com ERA SUNRISE REALTY 980 Birmingham Rd. Suite 606 Milton, Ga 30004

A new gourmet kitchen, luxury master bath or a needed addition are all possible utilizing this product. Sounds complicated but, it is not with the right Realtor® and lender team in place and it can make long-term financial sense as well. Some of the higher price points are still a bit soft in certain areas, offering buyers good values. And, as market values continue to appreciate, the greater basis of a higher priced home, provides opportunities for enhanced gains once that home sells years down the road. Of course, it is not a guarantee but, worth consideration. The first step is to contact an experienced, licensed Realtor® who can connect you with a qualified lending professional. Working together, you can establish your home value, loan amount qualification, target communities for purchase and expected prices. Next, the fun part begins…finding your dream home! –Eve Jones, Harry Norman Relators

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Housing market health New construction versus resale statistics By JENNI BONURA Considering a move? If so, your first step may likely be to gain a greater insight on market conditions by asking a REALTOR or doing some research online. Here is an overview based on current data from local MLS’s specific to this market area. If you are interested in statistics that are much more localized, you can request your own custom Market Tracker report, based on the school district or city you prefer, and receive an automated monthly email with statistics and graphs by visiting www.HarryNorman.com New construction is returning to our market but there is a perception that the demand for new construction outpaces resale homes, however current statistics indicate otherwise. When comparing this quarter to last quarter: New/under construction homes sold remained the same and under contract homes decreased by 15%. Resale homes sold increased by 43% and under contract homes increased by 8%. The average complete days on the market has decreased during this time period at about the same rate for both new construction and resale (~30%). The months of inventory for new construction remains unchanged at 3 months, but for resale it has decreased

to 2 months. Once the numbers for August are finalized, it could give us an indication of whether demand will remain strong through the fall or if demand will normalize due to mortgage rates rising and other economic changes. If you are considering a move, the most valuable advice you can receive is from a local expert - someone who is experienced, savvy with negotiating and marketing, and can cite relevant statistics on a neighborhood by neighborhood basis. If you need a recommendation for a local expert, an agent from Harry Norman, Realtors, please call me directly at 770-594-4901.

Market Tracker Residential Real Estate Reports

E XC LU S I V E R E P O RT S Stay informed of residential real estate sales activity and regional trends with the exclusive Market Tracker reports from Harry Norman, REALTORS®. Visit www.HarryNorman.com, to sign up* and choose your customized Market Tracker report, based on the school district or city you prefer, and receive an automated monthly email specific to your area which includes statistics and graphs, as well as monthly and yearly comparisons.

STAY CURRENT ON HOME VALUES AND REAL ESTATE TRENDS

7855 North Point Parkway, Suite 100 | Alpharetta, GA 30022 *No obligation for signing up, & your email is not shared with any third party.

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September 2013 Real Estate Report