AJC Home Sales Report: No telling when we’ll hit bottom (Atlanta: neighborhoods, organic)

[K-SawDude]

Originally Posted by MathmanMathman

From what I've been hearing, things are still bad in the housing market and apparently, some think we in a double dip recession.

Personally, I don't think the housing market really ever undipped in the first place. It spiked due to the homebuyer tax credit in late '09 and early '10, but since then it's back onto the same downward-ish trajectory.

I do agree with Testa that, in the long run, Atlanta will be in much better shape than some other parts of the country. Some microsectors in the ATL had some bubbling going on, but we weren't anywhere near the bubbleiciousness of places like Vegas and Orlando. Since prices didn't climb as high here in the first place, to me it seems like the market here is overcorrecting somewhat. (With some exceptions--the oversupply in condos, for example, was going to result in price drops at some point regardless of what the rest of the macroeconomy was doing. This last recession just triggered this eventuality.)

I'm glad construction slowed down, because Atlanta was overbuilding like crazy. Hopefully we'll get some smarter, more targeted development in this next decade.

[bdawk]

Not in the article but homes are up in my zip, 30004.

I would not have expected that my propery appreciated in the year since I bought it, but I'll take it.

[mrpanda]

you sure about that ?

zip code 30004 is down 1/2% Month over Month and 1.9% Year over Year.

Milton, Roswell, Johns Creek, and Sandy Springs are in the green (barely) Year over Year.

Alpharetta just turned red Year over Year....... as for the rest of Atlanta..... there is some serious blood in the streets. It does not look pretty.

[peachstatehomegal]

See - that's part of the problem - bdawk says one thing and mrpanda says something else - about the same areas.... where does everyone get their info? Is it from reliable sources?

If someone's interested in real estate, they need to get good, reliable information for that area alone, and not go by what's happening all across the states.

Just my 2 cents.

[AcidSnake]

Those are some greats questions you asked. I myself sure wish that some folks on here weren't so lazy and would actually post a website link proving their assertions for a change.

Left click-highlight-Right click-copy-paste. It's just that simple, y'all. Takes less than a minute.

Originally Posted by peachstatehomegal

See - that's part of the problem - bdawk says one thing and mrpanda says something else - about the same areas.... where does everyone get their info? Is it from reliable sources?

If someone's interested in real estate, they need to get good, reliable information for that area alone, and not go by what's happening all across the states.

Just my 2 cents.

[RainyRainyDay]

Originally Posted by bdawk

Not in the article but homes are up in my zip, 30004.

I would not have expected that my propery appreciated in the year since I bought it, but I'll take it.

Originally Posted by mrpanda

you sure about that ?

zip code 30004 is down 1/2% Month over Month and 1.9% Year over Year.

Milton, Roswell, Johns Creek, and Sandy Springs are in the green (barely) Year over Year.

Alpharetta just turned red Year over Year....... as for the rest of Atlanta..... there is some serious blood in the streets. It does not look pretty.

Originally Posted by peachstatehomegal

See - that's part of the problem - bdawk says one thing and mrpanda says something else - about the same areas.... where does everyone get their info? Is it from reliable sources?

If someone's interested in real estate, they need to get good, reliable information for that area alone, and not go by what's happening all across the states.

Just my 2 cents.

Originally Posted by AcidSnake

Those are some greats questions you asked. I myself sure wish that some folks on here weren't so lazy and would actually post a website link proving their assertions for a change.

Left click-highlight-Right click-copy-paste. It's just that simple, y'all. Takes less than a minute.

By following the link in the original post on this thread, one can easily find the AJC's data by zip code. Here it is for 30004 30004 - Fulton County / 2010 Atlanta Home Sales Report / AJCHomefinder Looks like mrpanda wins the 30004 argument, unless the AJC's data is questionable.

The map here Atlanta Home Sales Report / Home Sales in Atlanta Area / AJCHomefinder gives a picture of median price changes by zip code.

[AcidSnake]

That's what I'm talkin' about!

Originally Posted by RainyRainyDay

By following the link in the original post on this thread, one can easily find the AJC's data by zip code. Here it is for 30004 30004 - Fulton County / 2010 Atlanta Home Sales Report / AJCHomefinder Looks like mrpanda wins the 30004 argument, unless the AJC's data is questionable.

The map here Atlanta Home Sales Report / Home Sales in Atlanta Area / AJCHomefinder gives a picture of median price changes by zip code.

[testa50]

Aren't they both technically correct? bdawk was referring to his own home, and existing median resale prices in the neighborhood improved (by 5%). But new home prices declined so much (-20%) that overall sales prices declined slightly.

Of course, the introduction of new supply into the market throws all of these statistics into question. If someone built a new subdivision of $250k ranch homes geared towards retirees it would appear to make prices 'drop' a lot--both new prices when they are first built and existing prices as they get resold--even though the value of prior existing homes could be unaffected. Lies, damned lies, and statistics, I guess.

[RainyRainyDay]

Great contribution, testa50. (I must have repped you already since I'm not allowed to give you more).

[K-SawDude]

For the curious and extra-nerdy, here's some just-released, thorough national data on the current state of the housing market, a Harvard study complete with pretty (and depressing) charts:

http://www.jchs.harvard.edu/publications/markets/son2011/son2011.pdf (broken link)

If anyone wants to pull out and post the couple of charts that mention Atlanta, go for it.