2011 Year End Buckhead Home Sales Report

This morning I was looking back at my 2010 year-end report and reading over my thoughts on 2010 and predictions for 2011.  I feel pretty good about what I wrote a year ago, but was dead wrong on the interest rate prediction that they would continue rising.  In fact they went really low and are still really low today.  You can get a 30 year fixed mortgage today for 3.8%, and I’m pretty sure that is a record low number.  An article in the Atlanta Business Chronicle today said that these record low rates are not attracting many new buyers because those that could afford to buy or were in a place where they could refinance have already done so. 

In 2011 we continued to see the foreclosures and short sales, and as a matter of fact, I just listed a short sale in the Brookhaven area on Tuesday.  These are an excellent opportunity to purchase a home at a reduced cost, especially when you consider the extraordinary interest rates that people are locking into these days. 

Below I have crunched the numbers and have a comparison of 2011 Buckhead Home Sales versus those in 2010.  Across the board the numbers were better in 2011, specifically the average Buckhead home selling for 6% more than it did in 2010.  In 2011, the most expensive home to sell closed for $6,500,000, and it was located on Habersham Road.

What will 2012 bring to the Buckhead real estate market?  So far it's been great in January.  Yesterday I had two full price cash offers rejected by a seller that had multiple offers on their house.  Now that doesn't happen every day, but it used to...  You can call me a broken record, but a well priced home in a good location that is presented well will sell quickly, and often close to if not over the list price.  It is my goal in 2012 to ensure that my clients understand this concept and that my listings meet all of those criteria.  

I hope you will call me if you or someone you know is interested in buying or selling a house in Atlanta, or anywhere for that matter.  I have relationships with top REALTORS all over the country and would be happy to put you in touch with them if you are moving outside of Atlanta.  If you want a more targeted market analysis for your neighborhood, please contact me and I would be happy to assist you.

Thanks and have a great 2012.

Carson Matthews

Atlanta Fine Homes Sotheby's International Realty

678-595-9286

www.TheBuckheadOffice.com

2119 Village Point - Offered at $459,900

2119 Village Point

Yesterday I listed a fabulous home in the Village at Lenox Park in the Brookhaven area.  2119 Village Point is a 4 bedroom 3.5 bath brick house located in a quiet cul-de-sac in the back of the community.  The house is being offered through a short sale at $459,900.  The house has been renovated throughout with updates like stainless steel appliances in the kitchen, new spa-like master bathroom, a whole-house water filtration system, new roof and gutters in 2007, replaced both A/C and furnace units in 2007 and 2008, new hot water heater in 2008; and so much more.  You can see all of the details on my website www.TheBuckheadOffice.com or by clicking here.  Below are some pictures of the interior.

Please call me to set up a time to see the house or for more information.
Carson Matthews
678-595-9286
Carson@AtlantaFineHomes.com

3rd Quarter 2011 Buckhead Home Sales Report

Here is the Buckhead Home Sales Report for the 3rd Quarter of 2011.  This includes single family detached homes sold between July 1 and September 30, 2011.

Buckhead Home Sales July-September 2011

Homes Sold in 3rd Qtr of 2011 - 164

Average List Price - $812,919

Average Sales Price - $742,811

Average Sales Price/List Price Ratio - 91.3%

Average Days on Market - 180 Days

These numbers are almost unchanged from the same time period in 2010.

The highest sales price for a Buckhead home during the 3rd Quarter of 2011 was $3,857,500, which was Atlanta Falcons Owner Arthur Blank's home on Tuxedo Road.  The 2nd highest price was Kenny Rogers home on Valley Road that closed for $3,725,000. The average house had 4 bedrooms, 3.5 baths and measured in at 3,200 square feet.


Visit my website www.TheBuckheadOffice.com to search available homes for sale in Buckhead.


For more information about your neighborhood, feel free to contact me:


Carson Matthews
Associate Broker
Atlanta Fine Homes Sotheby's International Realty
678-595-9286
www.TheBuckheadOffice.com

Watershed Restaurant Relocating to Buckhead in 2012

Watershed Restaurant, an award-winning Southern-inspired eatery that pioneered the Decatur dining scene when it hung its shingle on a converted gas station 13 years ago, is re-locating to The Brookwood, a 219-unit, mixed-use condominium community located on Peachtree Street in the heart of the historic Brookwood Hills neighborhood. The move will empower owners Ross Jones, Indigo Girls’ Emily Saliers and Chef Joe Truex to realize their dream of growing the business with private dining, a patio and a wealth of parking. They plan to maintain the integrity of the Watershed brand, including the inspired cuisine of acclaimed Chef Truex, while updating it with a modern sensibility reflective of the new location. Diners can expect to see General Manager Jones on the floor and Chef Truex in the kitchen of this Smith Hanes-designed 175-seat jewel.

With the new location – set to open in Spring 2012 – comes a refined editing of the menu. Truex plans to update Watershed’s Southern-inspired cuisine with flavors from the Georgia Coast to the Louisiana Bayou and everything in between including the diverse ethnic flavors found throughout the South. The restaurant will continue to boast an expansive wine program – including the monthly wine club tastings – and bring back Fried Chicken Night with a twist.

Learn more about The Brookwood

Learn more about Watershed Restaurant

Atlanta Public Schools Return to Fully Accredited Status

The AJC just reported that Atlanta Public Schools APS will be removed from probation status and return to it's fully accredited status.  Read about it on the AJC at http://www.ajc.com/news/atlanta/atlanta-to-be-fully-1214716.html

SPLOST IV for Atlanta Public Schools

Every wonder what it means when you hear people say SPLOST?  It's the Special Purpose Local Option Sales Tax and it has been around in Atlanta since 1997.  Basically when people spend money in our area, a penny sales tax is charged and it goes towards the upkeep of our public schools.  According to the Atlanta Public School (APS) website, $1.4 billion has gone towards the construction of 18 new schools, 71 renovations and expansions, and two more projects that will be complete in 2011.

SPLOST IV will be up for vote during the November 8th elections.  If you want to learn more about it, APS Superintendent Erroll Davis will appear at a community meeting this Tuesday, October 25th at 6pm at the North Atlanta High Theater, and is sponsored by Buckhead school board member Nancy Meister.  

You can read all about it here: APS SPLOST IV

New Buckhead Atlanta Renderings

Oliver McMillan released new renderings and street elevations of Buckhead Atlanta.  Take a look at this brochure on the developers website. http://www.olivermcmillan.com/buckhead-brochure