Signs Indicate Housing Market Recovery – North Georgia Real Estate

Is the real estate market recovering? Here’s what’s happening nationally and in North Georgia’s local real estate market. Positive signs are being reported that the real estate pendulum is swinging upwards.

..”No one is anticipating that an upward path for housing will run in a straight-line trajectory. The economy is in an uneven recovery and we can expect some corresponding ups-and-downs in the housing market in the months ahead.

However, the National Association of Home Builders (NAHB) believes that on the whole, we can expect a slow and gradual recovery in housing starts, home sales and the overall housing market in 2012…” Read more: Source: Rismedia April 24, 2012

Have we hit bottom?  That’s the million dollar question, isn’t it! Who can say what’s really around the next turn but most leading indicators show that we may very well have. I’m, by no means an economist or fortune teller but I am a dedicated Realtor® who keeps informed of market conditions on a daily basis and I do know that we will shift into another business cycle and when we do, we will start the climb back up.  That shift may have already started.

Whether at the bottom or near bottom, now is the time to make some great investments and  get in position to ride the market back up.  I blogged in the beginning of the downturn (evident in 2007) that we were in a normal business cycle  (although, it didn’t feel all that normal and granted the ride down has been severe).  Now, I believe we are soon to make the shift into the next normal business cycle which is the ride back up.

Positive signs that real estate markets are improving – see housing market reports listed at the end of this post.

North Georgia Real Estate – Local  View
Blue Ridge, Ellijay, Blairsville, Hiawassee and surrounding towns

Total Active Homes – March Year over Year

MARCH	2011	2012
	9418	7743

Inventory is  low so we anticipate builders to gear up.

Total Closed Sales – March Year over Year

MARCH	2011	2012
Total	244	227
Fannin	74	42
Gilmer	54	58
Towns	23	22
Union	44	45

Sales down slightly overall.  The next few months will determine whether this is a trend or just a blip.  We saw a decline in sales in Fannin County compared to same time last year.  Gilmer and Union had increases and Towns is only off by one closed sale so overall, holding fairly steady.  There are 355 sales pending and 164 contingent sales. Some closings may not have been reported at the time this data was collected.

Average Sold Price: $124,57 (down from $138,938 in March 2011)
Foreclosures are down with 92 closed sales (down from 138 closed sales in March 2011)

For the most part, the local market is tracking as expected and the coming months will be important to watch to see what trends emerge.

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Source: Northeast Georgia Multiple Listing Service as reported on April 16, 2012 Counties include: Fannin, Gilmer, Towns, Union Georgia, Cherokee and Clay North Carolina and parts of Tennessee

Positive Housing Market Reports

Cape Coral Florida – Prices Up

Florida’s Market Shows Positive Trends

Las Vegas NV – Reports Improvements

Phoenix AZ – On the Mend

Atlanta GA – News not all bad just a slower recovery

For more information or assistance with selling or buying real estate in the North Georgia Mountains, please contact Donna today !

Donna Yates
Associate Broker, GRI
706-633-0644 Mobile
http://www.move2northgeorgia.net
http://www.blueridgemountains.activerain.com
email: donna@donnayates.com

Like http://www.facebook.com/NorthGeorgiaMountains on Facebook
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Real Estate Client vs. Customer Brokerage Relationship – What Does It Mean?

I received an email from Joe asking about brokerage relationships regarding client vs. customer.  Thank you Joe for asking and I’m happy to answer it because if you are not sure then there will be plenty of others who are not sure as well.

Joe asks:  I have been told that brokerage relationships are defined as either client or customer.  Is this true and what is the difference?

Joe, it is true and here’s how it works:

There are two broad categories of brokerage relationships which are: 1) broker-client relationship and 2) broker customer relationship.

Let’s start by explaining:

Broker-Client relationship (key word here is client)
This means the broker is representing a buyer or seller as a client.  Another words, the broker is acting as his or her legal agent in buying, selling or leasing real estate.  In Georgia, this type of relationship can only be formed by the broker and the buyer or seller entering into a signed written agreement. The agreement will explain things such as: how the broker will be paid, broker duties to the client and the type of other agency representation offered by the broker. A key component of this type of relationship is each party pledges their complete loyalty to each other and the agent will represent the client’s best interest within legal and ethical boundaries.

Broker – Customer relationship.  The broker in this case is not representing the buyer or seller in an agency capacity.  The broker may still work with the customer and provide ministerial services.  What are ministerial services? Services for a customer are limited and fairly generic such as:  Broker may identify properties for sale or lease, provide pre-printed real estate contract forms, prepare contracts within the legal instruction of the customer and assist in referring customer to lenders, inspectors, closing attorneys, appraisers, etc. but would not provide client level services such as negotiating on the client’s behalf, provide information that an agent may have about a property which would be advantageous  to the buyer in securing the best deal, offering guidance on making an offer price  and suggesting other negotiating strategies advantageous to the buyer client, etc.

Joe, I hope this answers your question but if you or anyone else reading this needs more information, please be sure to call, text or email me.

Donna Yates
Associate Broker, GRI
706-633-0644 Mobile
donna@ellijay.com
donna@donnayates.com
www.move2northgeorgia.net
www.georgiacabinsforsale.com

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Real Property vs. Personal Property: Negotiating Tip for Buyers and Sellers

The real estate market in the Blue Ridge area of the North Georgia Mountains  is primarily a second home market consisting mostly of log cabin style homes used for vacation and/or retirement homes. Most of these cabins are furnished with beautiful, rustic décor.

Many times, a seller will not want to move or store the cabin furniture when their cabin sells and will be open to letting many items go with the real property.

If a respective buyer requires a mortgage, it is recommended for buyers and sellers to negotiate personal property outside of escrow since the purchase price is for real property; otherwise the furnishings will need to be appraised and the purchase price increased if personal property is included in the sale and will affect lending requirements.

When are you planning to make your next real estate move?
Call or text Donna today at 706-633-0644.    Email donna@donnayates.com

Visit: Move 2 North Georgia