HOMES SOLD & AVERAGE SALES PRICE BY COUNTY MARCH 2013 vs MARCH 2012 HOMES CLOSED COUNTY MARCH 2013
HOMES CLOSED MARCH 2012
% CHANGE UNITS CLOSED
AVG SALES PRICE MAR 2013
AVG SALES PRICE MAR 2012
% CHANGE PRICE
Data from FMLS
ATLANTA REAL ESTATE MARKET OVERVIEW Greater Atlanta inventory levels down 37% from 2012 creating a Sellers Market. Available “months supply” about 4 months; 6 months considered normal market. Short sales & foreclosures coming on market slowed: 2010—60% of all sales distressed properties; 2013 distressed properties are 37% of all sales. New home construction is making a slow comeback. Property values expected to rise in 2013.
FORECLOSURES COUNTY BY COUNTY and AROUND THE COUNTRY
Total Homes in Some Stage of Foreclosure
1,436,892 properties in U.S. that are in some stage of foreclosure (default, auction or bank owned) March ‘13—The number of properties which received foreclosure filing in U.S. was 1% lower than previous month: 23% lower than the same time last year. Home sales for February 2013 were down 15% compared with the previous month, Home sales for February 2013 down 12% compared with a year ago. Median sales price of a non-distressed home was $160,000. The median sales price of a foreclosure home was $118,000 (26% lower than non-distressed home sales).
*Data gathered from RealtyTrac Report (www.realtytrac.com/statesandtrends) Page 2
Ask the Agent: This Month’s Question What should I know about becoming a landlord? Many people dream of becoming a landlord to help pay the mortgage and provide extra income. But there’s more to it than simply renting out your basement. These days, savvy tenants are looking for location, location, location … plus all the bells and whistles, such as in-suite laundry, highend finishes and upgraded kitchens and baths. If you are looking to become a real estate investor and purchase a property to rent, be sure to consider all your costs, including closing costs, fees, property taxes, utilities, and more. Most important, you need a real estate agent familiar with the rental business. Finding a tenant is easy; finding a good tenant, who will treat your property with respect, is more difficult. You have to spend to get, and that may mean loan payments for renovations.
Why Not Pass Me to a Friend? If you’ve enjoyed this newsletter and found its information useful, please pass it to a neighbor, friend or co-worker. And if you have any comments about it, don’t forget to give me a call or send me an email! Email: JaniceSlavenATL@gmail.com Cell: 770-617-5146
Published on May 3, 2013