Sugarloaf Country Club Real Estate Report - 2020/ 2021 Edition

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Sugarloaf Country Club Real Estate Report 2020 - 2021 Edition Published January 1, 2021 Floyd Real Estate Group | FloydREGroup.com Mary Floyd - Founding Partner | Mary.Floyd@Compass.com| 404.312.3837 Tony Floyd - Founding Partner | Tony.Floyd@Compass.com | 404.406.7819

2020 Year in Review 2020 was such a crazy year for Sugarloaf real estate. The first quarter started strong fueled by increasing demand and a robust economy. Then came COVID-19. The last few weeks in March and April brought homes sales to a halt. By May, real estate had regained momentum and new trends were beginning to emerge. People in quarantine wanted more spaces for home offices, home schooling and outdoor living. Residents in dense areas started moving to the suburbs for larger homes and safer environments. The Fed lowered interest rates and mortgage rates hit all-time lows. This was a perfect scenario for Sugarloaf Country Club! From September to the end of the year, we saw increased demand and our inventory dropped to the lowest levels recorded. Sugarloaf Country Club moved from a Buyer’s Market to a Seller’s Market!

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As the year progressed, our inventory reached the lowest levels we have ever seen with homes for sale in the low 20s in the 4th quarter and only 21 listings going into January 2021.

There were 51 closings for 2020 which is substantially higher than 2019.

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The price distribution of properties sold in 2020 ranged from $585,000 to $2.5 Million. The majority of closed sales were in the $750,000 to $1.3 million range. See the chart below to view the distribution of closed sale prices by month.

Distressed properties including foreclosures and short sales had a major impact on Sugarloaf during the real estate recession. During that time, we saw an average of 8-10 “notices of foreclosure� each month.

These were properties that were notified by the bank that they were at least 90 days behind on payments and their property was being scheduled for an upcoming auction.

In 2020, there was only 1 short sale closing.

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Now, let’s look at how Sugarloaf Country Club home values performed in 2020. The chart below shows “closed sale price versus the previous purchase price” ratio which we use for our Sugarloaf Value Index. This repeat sales method is also used by the popular Case-Shiller Index to report on Metro Atlanta and other markets around the nation.

The chart below shows “average $ per square foot” - one of the factors used by appraisers.

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The list to sale price ratio was 92% and Days on Market was 138 days for 2020. Our last three listings were sold for list price or higher with multiple offers on the first day they were listed!

Contact us to learn the secrets to selling your property for the highest value!

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2020 Sold Luxury Homes for Sugarloaf Country Club Closing Date 1/6/2020 1/7/2020 1/15/2020 1/24/2020 2/3/2020 3/9/2020 3/12/2020 3/23/2020 3/25/2020 4/2/2020 4/15/2020 4/20/2020 4/20/2020 5/12/2020 5/22/2020 6/5/2020 6/10/2020 6/26/2020 7/1/2020 7/10/2020 7/16/2020 7/22/2020 7/23/2020 7/23/2020 7/23/2020 7/28/2020 8/3/2020 8/4/2020 8/6/2020 8/28/2020 9/25/2020 9/25/2020 9/30/2020 10/21/2020 10/5/2020 10/12/2020 11/4/2020 11/4/2020 11/10/2020

Address 3223 Bagley Passage 2160 Lockett Court 2856 Eudora Trail 2727 Lockerly Lane 2714 Thurleston Lane 2671 Lovejoy Circle 2772 Dawsons Chase 2694 Thurleston Lane 2753 Pinebloom Way 2768 Grey Moss Pass 2142 Broadfield Run 2638 Bonar Hall Path 3440 Moye Trail 3040 Sugarloaf Club Drive 1765 Sugarloaf Club Drive 1855 Sugarloaf Club Drive 3650 Moye Trail 3475 Moye Trail 2680 Sugarloaf Club Drive 2892 Darlington Run 2757 Dawsons Chase 2806 Eudora Trail 2894 Thurleston Lane 2837 Major Ridge 3305 Moye Trail 2777 Dawsons Chase 3125 Cypress Pond Pass 2844 Thurleston Drive 2758 Chieftan Run 2704 Thurleston Lane 1780 Sugarloaf Club Drive 2519 Dawsons Pointe 2843 Thurleston Lane 2761 Grey Moss Pass 3640 Moye Trail 2404 Thurleston Lane 2874 Thurleston Lane 2296 Bransley Place 1865 Sugarloaf Club Drive

Closed Price $805,000 $1,070,000 $960,000 $585,000 $891,000 $1,150,000 $758,000 $1,180,000 $775,000 $1,120,000 $910,000 $1,075,000 $1,250,000 $1,085,000 $950,000 $960,000 $1,150,000 $928,000 $1,800,000 $975,000 $869,900 $976,000 $960,000 $1,060,000 $1,420,000 $975,000 $950,000 $1,235,000 $710,000 $960,000 $1,100,000 $2,562,500 $1,312,500 $1,440,000 $1,100,000 $945,000 $899,990 $1,220,000 $1,099,000

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11/12/2020 11/18/2020 11/19/2020 11/20/2020 11/20/2020 11/30/2020 11/30/2020 12/2/2020 12/4/2020 12/7/2020 12/11/2020 12/15/2020

2321 Bransley Place 1825 Sugarloaf Club Drive 3050 Sugarloaf Club Drive 2930 Fitzgerald Trace 2912 Darlington Run 3113 Cypress Pond 3600 Moye Trail 2601 Buena Vista Way 2938 Major Ridge Trail 2777 Major Ridge Trail 2980 Sugarloaf Club Drive 2754 Boddie Place

$1,255,000 $1,325,000 $885,000 $850,000 $1,575,000 $1,294,000 $1,800,000 $785,000 $1,685,000 $1,200,000 $920,000 $1,875,000

Current Pending Sales for Sugarloaf Country Club Status Pending Pending Pending Pending Pending Pending Pending Pending

Address 2825 Darlington Run 3540 Moye Trail 3273 Saint Elmo Court 2725 Eudora Trail 3272 Saint Elmo Court 2616 Boddie Place 2817 Major Ridge Trail 3233 Bagley Passage

List Price $1,850,000 $1,799,000 $1,485,000 $1,425,000 $1,350,000 $1,080,000 $995,000 $799,000

2020 Sold Lots for Sugarloaf Country Club Month 2/18/2020 2/25/2020 6/30/2020 8/25/2020 9/18/2020 10/15/2020 10/23/2020 12/1/2020

Status Closed Closed Closed Closed Closed Closed Closed Closed Pending

Address 1980 Sugarloaf Club Drive 2656 Wynnton Drive 3219 Carmichael Place 2461 Lockerly Pass 2576 Wynnton Drive 3050 Cypress Pond Pass 3596 Moye Trail 2661 Lovejoy Circle 2631 Lovejoy Circle

Closed Price $210,000 $330,000 $355,000 $359,900 $212,500 $360,000 $375,500 $230,000 Private

If you are interested in building your custom home, please contact us quickly as the best lots are almost gone!

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We can pay for the cost of home improvement services with no interest or fees — ever.

Compass Concierge fronts the cost of home improvement services with no interest and no fees.

Concierge is the hassle-free way to sell your home faster and for a higher price! To get funds directly in your hands, Compass has partnered with Notable, an independent lender to provide Concierge Capital, an interest-free loan.

COMMON USE CASES: Staging & Decor Appliances Flooring Kitchen and bathroom updates Light fixtures Landscaping Painting Inspection Items De-cluttering Moving & Storage and many more!

“Buyers want homes that are updated and in great condition. If the home is not updated and needs a lot of work, buyers will offer significantly lower prices. The most common areas of focus are kitchens, bathrooms, flooring, windows and outdoor living. Compass Concierge can provide an easy solution that will help you get the highest value and sell faster!”

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A simple solution to bridge the gap between the home you have and the home you want Compass Bridge Loan Services gets you access to competitive rates and dedicated support from industry-leading lenders, with the exclusive option to get up to six months of your loan payments fronted when you sell your home with us. Compass can provide our exclusive Advance payments up to $50,000 to help fund Bridge Loan payments and other expenses. This allows you to buy the home you want and move in while we focus on selling your former home!

Compass Concierge and Compass Bridge Loan/ Advance can work together to simplify the process of selling and moving.

Current Home

• • • •

Desired Home

Many desirable areas are seeing multiple offers and homes are selling fast! Buyers can get stuck waiting to sell their current home. Your new dream home may be gone!

Buy your next home NOW versus waiting to close on your current home!

Leverage our ADVANCE to pay for Bridge Loan payments – avoid 2 payments.

How easy is that!

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Sugarloaf Country Club Real Estate in 2021 Now, let’s explore the major trends for 2021 and discuss what is likely to happen. Home values are impacted mostly by supply and demand. We are going into to 2021 with very low inventory – only 21 homes for sale in Sugarloaf Country Club. We expect to see historically low inventory this year while demand will remain strong driven by the migration to luxury suburbs.

Here is a summary of the national economic and housing forecast for 2021: • • • •

Robust economic growth in the 4-5% range (Fed, Morgan Stanley) Double-digit increase in home sales units (Mortgage Bankers of America, BofA) An 8% gain in average sales price nationally (National Association of REALTORS®) Mortgage rates to remain historically low all year, at roughly 3% (NAR)

Top 5 Luxury Real Estate Trends for 2021: These are the most impactful trends for luxury real estate that will impact Sugarloaf Country Club in the new year.

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Migration from Dense Urban Areas Second Home and Resort Areas are Hot Increasing Demand for Larger Homes Multi-Generational Living Modern Versus Traditional Design

Migration from Dense Urban Areas: Since the start of the COVID-19 pandemic, we have seen a major move from dense urban areas to other states and the suburbs. Sales of Manhattan luxury properties are down 46.7% compared to last year. The North American Van Lines migration chart shows the states that are benefitting most - Texas, Florida, Tennessee, Colorado, Arizona, North & South Carolina and Idaho. California residents are heading to Texas and Idaho.

New York residents are heading to Florida, the Carolinas or the suburbs around the metro area. Georgia has always been in the top 8 destinations but was surpassed this year by Texas and Tennessee. Metro Atlanta has also seen a flight from our urban areas of Midtown and Buckhead to the north Atlanta suburbs. Top drivers for moving include concerns over COVID-19 plus safety and better home values. Buyers no longer want high-rise living where residents have to be in elevators for access to their condos. The riots and ongoing crime in Buckhead and Midtown have sellers on the move. For more average price points, areas like Woodstock and Milton are benefitting the most. For luxury buyers, gated country club communities such as Sugarloaf Country Club, The River Club and The Manor are seeing a significant increase in demand. In the last month, we have seen buyers coming from California and Chicago.

However, most are migrating from local areas or moving within the neighborhood.

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Second Home and Resort Areas Are Hot: Second home markets around the nation are very active as luxury buyers are moving to resort and second home areas including Florida (beaches), Colorado (ski areas) and Arizona (beautiful weather). NAR reports that second home sales are up 100% in 2020. Locally, our lake and mountain areas are seeing a significant increase in demand including Lake Lanier, Lake Oconee, Lake Hartwell, Lake Burton and The Highlands. We see Sugarloaf residents making luxury home purchases in these areas as well as surrounding states such as the 30A/ Destin area, other Florida markets plus the Georgia & South Carolina beaches. If you are considering purchasing a resort or second home property, we have strategic partnerships with local experts and would be happy to advise you.

Increasing Demand for Larger Homes: Before the pandemic, the trend was away from larger homes to smaller lots and less square footage. Now the pattern has shifted. Many buyers want more space to accommodate family members who have come home during the pandemic and often need space for multiple offices and additional bedrooms & bathrooms. In more average price points, the open floor plan concepts are less popular as people want more privacy and accommodations for home offices, home schooling and telehealth.

Outdoor living and outdoor recreation options are also a big plus. People want areas to walk, run or bike safely. Golf, tennis and pickleball are exploding in popularity. Pools companies are backed up for months with orders to build new private pools. Our exceptional TPC at Sugarloaf golf course, our Lifestyle Center Tennis complex, our private Park and miles of walking/ running paths are big draws for Sugarloaf Country Club.

Multi-Generational Living: A national trend that we are also seeing in Sugarloaf is the rise in multi-generational living. Parents, grandparents, children and other family members are living together more often. This was very common several generations ago and remains common in many other countries. These families want larger homes with multiple owner suites, ample parking space such as circular driveways, multiple kitchens, elevators, pools and plenty of space for home offices and home schooling. Some buyers are renovating homes where possible to achieve these goals. We do not believe this is a short-term trend and expect to see higher demand in Sugarloaf for multi-generational living in the future.

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Modern Versus Traditional Design: North Atlanta luxury homes are primarily traditional styles. However, that is changing. The first areas to see the trend toward more modern are kitchens and bathrooms. Buyers want very light (or white) countertops and cabinets. The classic built-in whirlpool tub has given way to the modern freestanding tub. The brass fixtures that were popular in the past must all be replaced. The second most common area of modern design is molding. The fancy dental molding that was so popular is often being replaced with a more minimalistic look. We have seen numerous buyers making these renovation calculations. That said, we do not recommend replacing your beautiful molding just yet as there are still buyers who value upscale moldings. Dark and cool toned hardwood floors remain popular with buyers. Carpet is less desirable. If your hardwoods are dated, you may consider refinishing or replacing. If you have carpets in the upstairs bedrooms, you may consider replacing with hardwoods. Yes, modern design is emerging in the interiors of homes. It is also beginning to impact home exteriors. We have numerous new construction homes that are moving in this direction.

Obviously, changing your traditional exterior would be a major effort and we do not recommend this approach. However, traditional brick homes can be painted with light colors which can make a difference. Our home was the first in the neighborhood to be painted. Today, there are dozens of homes with painted brick and the POA is getting more flexible to approve this option.

These are the Top 5 housing trends that will impact Sugarloaf Country Club homes in 2021. We would be happy to speak to you individually about recommendations for your property.

Additional Considerations for Sellers: If you are considering selling in 2021, here are some additional things to consider. These are the most common issues we see from dealing with buyers looking in Sugarloaf Country Club. Remember, all buyers will get a thorough inspection during their due diligence period. The best scenario is to eliminate any major issues. The most common reason we see transactions terminate is the discovery of too many inspection-related issues.

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Luxury Home Systems: Every buyer will ask about the age of your roof, HVAC systems and water heaters. They all calculate the likely cost of upgrading or replacing. Roofs can often be replaced using your homeowner’s insurance. We have a very good roofing contractor who knows how to work with the insurance companies to get this done. Heating & air conditioning systems are getting more attention from buyers due to COVID-19. Buyers want the best air quality for family members. Tankless water heaters are the best options if you are considering replacing your water heater.

Fogged Windows and Wood Rot: It is very common to have windows where the seals are broken and the glass is fogged. It is also common to see wood rot. It is better to go ahead and replace or repair these prior to listing.

Buyers that see “wear and tear” like this think there may be other hidden issues and will offer lower prices. It is usually feasible to replace the window glass instead of the entire window. This is significantly less expensive.

Painting: Fresh paint is one of the best investments when getting a home prepared to sell.

Neutral colors are the best options. Focus areas would be the entrance, kitchen and bedrooms/ bathrooms. Fresh paint smells like a new home and makes a difference in the perception of buyers.

We have consistently achieved the highest values for our seller clients in Sugarloaf Country Club. Preparing your home for sale is a key art of this process. The combination of packaging the home and our superior marketing has proven to achieve better results. Our Compass Concierge program can also fund the right improvements to sell your home for the highest value! Contact us today if you or someone you know is thinking of selling. ______________________________________________________________________________ Sugarloaf Country Club is a wonderful community and there are many advantages to living here. As we move into 2021, here are a few highlights for Sugarloaf Country Club.

The Golf Course and Club Renovation: The TPC at Sugarloaf golf course is one of the best and will stand the test of time. The $22 million renovation of our golf courses and club facilities has improved our amenities allowing Sugarloaf to continue to be the crown jewel of private clubs in North Atlanta.

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The Club Enhancement Project included: • Resurfaced greens, tees, fairways and rebuilt bunkers. Our new greens are exceptional – fast and durable.

• New state-of-the-art irrigation system for better coverage and turf health.

• New and resurfaced cart paths plus awesome new golf carts.

• Expansion of the club restaurant, (now called RYE) with construction of a covered outdoor patio overlooking the 18th green.

• Complete modernization of the Lifestyle Center, updating interiors and finishes and upgrading existing locker rooms, while restructuring the 16,000 square-foot space to allow for more open cardio, strength and group exercise.

• Addition of a full-service “healthy café” offering a variety of organic, farm-fresh dining options after workouts. The outdoor dining area a TEMPO features a large firepit which is perfect for our long fall, mild winter and early spring seasons.

• Additions to the pool area including new poolside furniture with umbrellas, new poolside “resort style” cabanas and a new pool deck surface.

• With our new facilities, the club offers numerous events and activities for everyone to enjoy. This is the lifestyle that buyers want!

The Mitsubishi Electric Classic: Now that we are entering the “beginning of the end” of COVID-19, we hope to see The Mitsubishi Electric Classic return to feature some of the world’s best golfers right here at Sugarloaf Country Club. For those that were around when we hosted the BellSouth Classic/ AT&T Classic, you will recall that those events really energized the community and contributed positively to the demand for luxury homes. This is a great opportunity to re-introduce our community to the world! Those beautiful golf course views and venues for entertaining are more desirable again. We want to encourage everyone in our community to get involved to help promote and make these events as an attraction. Successful television golf events will help improve our property values!

We moved here 23 years ago as one of the early pioneers of the community. In that time, we have seen a lot of things change. Change presents opportunity and 2021 is going to be an exciting year. If you or someone you know are considering selling, contact us for a confidential discussion and to learn the secrets to success for attaining the highest value!

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M A RY F L O Y D

TONYFLOYD

Mary Floyd has been a licensed REALTOR® since 2005 and has consistently been one of the top luxury agents in North Atlanta. Mary is a Certified Relocation Specialist, Short Sale/ Foreclosure Specialist, Certified International Property Specialist and has earned many performance awards including Chairman’s Circle, Legend Award, Master’s Club, NAMAR Top Producer, Phoenix Award and Best of Gwinnett. With a passion for service, Mary places the highest value on building trusted relationships and achieving exceptional results for her clients.

Tony Floyd served the past 14 years as Chief Marketing and Innovation Officer for a global real estate brokerage. He is considered one the leading marketing and technology experts in the real estate industry including online marketing, social media, property marketing, coaching and training. Prior to real estate, Tony built and led sales and marketing organizations for respected companies including IBM, Fujitsu, Trilogy Software and BellSouth eBusiness. No other real estate agent or team has this level of expertise to assist clients in selling, buying and investing in real estate.

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COMPASS CARES

As we work to help everyone find their place in the world, Compass Cares empowers agents and employees alike to support meaningful causes right where it counts most: at home.

Compass Cares aims to contribute $10,000,000 in funds and skills-based volunteering to local organizations in 2021, with 100% of real estate transactions resulting in a donation to the community.

Floyd Real Estate Group is a proud supporter of the Women’s Club of Sugarloaf Country Club including Annandale Village, Duluth Co-Op, Mosiac, The Next Stop Foundation, and Wellspring Living. We also support additional local charities. Giving back and being involved in our community is an important aspect of our lives.

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Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdraw without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. Exact dimensions can be obtained by retaining the services of an architect or engineer. This is not intended to solicit property already listed.

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Compass Atlanta 3107 Peachtree Road NE, Suite A-1 Atlanta, GA 30305

compass.com

Mary Floyd m. 404.312.3837 o. 404.668.6621 mary.oyd@compass.com FloydREGroup.com

Tony Floyd m. 404.406.7819 o. 404.668.6621 tony.oyd@compass.com FloydREGroup.com

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