The percentage increase of homes sold in 2011 vs. 2010 in Forsyth County Ga. 2217 single family homes were sold in Forsyth County in 2010, that number for 2011 was 2606.

On the last day of each month I post a “Big Number” or interesting figure related to real estate in our area.

Late To The Game Or Playing With Fire?

Good questions that arise out of this are; do students really need to bring these devices? Will it help assist or augment the curriculum or is it simply an opportunity for them to more easily post to facebook and watch youtube videos? Will students that don’t have access at home to these devices find themselves at a disadvantage?

Schools already have spent 10’s of thousands of dollars on media centers or computer centers and interactive whiteboards. There are those that think technology can become a crutch for student’s, stifling learning. These same fears were around when calculators were first introduced into classrooms.

On the other hand, most kids currently have or already use the technology at home. If high school students aren’t already familiar with most business applications (word, excell, powerpoint) as well as specialized programs (photoshop, iMovie, etc.) they’ll need to become familiar with it soon after high school. Also, investing in the network and not the devices alleviates the need for schools to buy or update technology.

Cambridge High School

At a recent discussion with the principal of the new Cambridge High School in Milton Dr. Spurka is promoting a B.Y.O.T policy. His goal will be to have the network and platform at the school to accommodate the student’s technology. He envisions a different kind of media center, modeled somewhat after Lambert High School with technology tables that allow several students to share space, connect to large monitors and have group learning / studying opportunities.

My Thoughts

To me it makes perfect sense. This should already have been implemented years ago, but we know school systems tend to move slowly and costs are always an issue. Anything we can do to to engage student’s and push access to information and study materials is a benefit. Creating an environment in school that is collaborative rather than individuals sitting in rows behind their own school computer has benefits that far outweigh the negatives. For those that think having the technology present will cause more distractions I say look at 98% of students that not only have smartphones but can text with their hands behind their backs. Teachers have learned and will continue to learn how to manage technology, but the benefits of technology far outweigh the concerns.

Your thoughts?

There were 2600 homes sold in Forsyth County in 2011. Throw into the mix Short Sales, Estate Owned homes, Corporate Owners, Agent Owners and so on. The only groups I didn’t look at were a few investor owned homes and new construction. Here’s what they look like:

So, There isn’t anything terribly surprising here but there are a few things I noticed:

1. Re-sale homes get a higher sales-price-to-list-price ratio than any other type of sale except Active Adult homes.
2. Short Sales and Foreclosures have nearly the same SP/LP ratio but foreclosures sell 54% faster (no surprise there).
3. Foreclosures sell for a higher SP/LP ratio than Agent Owned homes, just interesting.
4. Nothing sells faster than homes where owners were transferred, and they get almost 91% of asking price!

So, the biggest take-away I hope people find is that distressed sales (foreclosures and short sales) sell only for a modest discount over other property types. If you think you’re going to get a foreclosure for 70% of asking price - you’re not getting that foreclosure.

Looking back at the end of the year, it’s always fun to see what the most expensive homes sold were for a particular area. Of course, homes on Lake Lanier are an obvious pick as a location for high priced listings; there are two in this group. Another two are located in St. Marlo Golf and Country Club. The last, well…you’ve all heard of this home: Le Reve. An over-the-top 72 acre estate that was built for $50 Million. Originally listed for $45 Million as a foreclosure, the bank dropped the price to $28 Million in January of 2010 eventually getting down to $16.25 Million when it was put under contract in June of 2011.

2015 Trammel Road, Cumming Ga - Sold For: $9,500,000

What they got:7 bedrooms, 9 ful baths and 11 half baths. I don’t care how many daughters you have, there will always be a bathroom available in this home! I wrote about this property before, you can read about it here.

8165 Royal Troon Drive, Duluth Ga - Sold For: $2,250,000

What they got: 7 bedrooms, 8 full bath and 2 half baths and 13,832 square feet.

9005 St. Marlo Fairway Dr., Duluth Ga - Sold For: $1,425,000

What they got:Brick, 6 bedrooms, 6.5 baths, finished terace level and nearly 10,000 sq. ft.

7520 Colony Drive, Cumming Ga - Sold For: $1,400,000

What they got: Brick, 5 bedrooms, 6.5 baths, beautiful pool and a fabulous panoramic view of Lake Lanier.

3810 Duck Cove Way, Cumming Ga - Sold For: $1,300,000

What they got: Brick, 5 bedrooms, 5.5 baths stunning stacked-stone ranch on deep Lake Lanier water with your own putting green, tennis courts and pool.

Comparing homes sold in Forsyth County for November Year-Over-Year (YoY) shows that home sales prices are still suffering downward pressure, but other areas show a marked improvement.

Unit sales, for residential detached homes, is up over 25% from November of last year, but the average sales price is down slightly, just over 2.3%. Median sales price also, down 2.2%. A more positive data point is average days on market, which is improved over 6% from November of last year. These numbers, while not all good, are far better than the June YoY figures I reported for Forsyth County Home Sales.

What is really interesting is that homes without a price reduction (meaning they were price correctly from day 1) sold almost 4 times faster and for 8% more on average than homes that were listed too high and required one or more price reductions. If that isn’t a compelling reason to price appropriately, I don’t know what is.

Bottom Line

More homes are selling but still at slightly depressed prices (for the county as a whole). There are some zip codes that are seeing modest price increases. And it’s critical to price your home accurately from day one.

Note sure about your situation? Email us and we’ll help you decide if now is the right time to list your home.

The percentage of November home sales in Forsyth County that are distressed sales (foreclosures and short sales). With lags coming in over the next week, this number will probably increase another 2-4%.

On the last day of each month I post a “Big Number” or interesting figure related to real estate in our area.

Thanksgiving is the week we all reflect on what we are thankful for, so I’m sharing 3 reasons why anyone searching for real estate in Forsyth County can be thankful.

You see, even though inventory is down considerably from this time last year and sales are up (by 25%), it’s not all pumpkin pie and whipped cream.

No. 1 - Average Sales Price

The average sales price in Forsyth County for October 2011 is $236,093, down 12% from October 2010’s $268,038

No. 2 - Median Sales Price

Down 16.5% from $246,625 in October 2010 to $206,000 in October 2011.

No. 3 - Distressed Sales

There were 37 distressed sales (short sales, bank owned, government owned) in October 2010. That number for October 2011 is 61, an increase of 65%.

Is there any good news for Sellers?

In some areas. Average sales price to original list price is 91.5%, up 3% over last year. In some price ranges, inventory is lower than it’s been in many, many years. For instance, right now there is only 4.5 months of inventory for homes under $200,000. So, there are pockets of good news for some home sellers.

But we just put a buyer under contract in a 4100 sq. ft., 4-side brick home with a 3-car garage and unfinished basement for $380,000. With deals like that around I think buyers have much more to be thankful for.

Let us know if you need help finding your sweet deal and here’s hoping you all get the big side of the wishbone this year. Happy Thanksgiving.

You can view the maps for the Forsyth County High School Lines, Forsyth County Middle School Lines and Forsyth County Elementary School Lines here. Below is a comprehensive list of Subdivisions with the schools they are moving from and to:

Better than a foreclosure, this distressed lake home is part of a bankruptcy sale. That means no lengthy wait on counter offers.

Built in 1971 but had a renovation some years back. The home has great curb appeal but needs some work. For the buyer with vision and desire, it’s a no-brainer. 4 bedrooms, 3.5 baths and a finished basement. Comes with a single-slip dock but a permit for a double-slip.

But wait, there’s more: a double lot. It will need to be confirmed that the other lot is buildable, but a great opportunity either way.

Want to take a look? Let us know!

Not what you’re looking for? Search For Lake Lanier Homes Here.

The percentage drop in inventory of single family homes since last year for Forsyth County.

On the last day of each month I post a “Big Number” or interesting figure related to real estate in our area.