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Old 04-24-2013, 09:32 AM
 
Location: Brookhaven
404 posts, read 623,091 times
Reputation: 437

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Its really easy to give misleading information with statistics if propoer contect isn't given. This data must be looked at in a similiar manner to the same store sales metric that retailers report.
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Old 04-24-2013, 10:35 PM
 
1,364 posts, read 4,331,121 times
Reputation: 400
Quote:
Originally Posted by PeteATL41 View Post
Its really easy to give misleading information with statistics if propoer contect isn't given. This data must be looked at in a similiar manner to the same store sales metric that retailers report.
Good point about same sales store metric. I think Case Shiller is the only one that comes close to that, as they look into repeated sales of the same property.

No wonder they say lies, dam lines and statistics. There was a news that nationally -- new homes average sales prices were down significantly, but the median was either same or slightly higher. Not much was discussed about this anywhere. I happened to see that in a comment somewhere, and when I searched for that info, it indeed seemd to be true.
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Old 04-26-2013, 06:51 AM
 
1,697 posts, read 2,255,980 times
Reputation: 1337
Blackstone Buys Atlanta Homes in Largest Rental Trade - Bloomberg 1400 homes sold in one move.
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Old 04-26-2013, 10:43 AM
 
2,412 posts, read 2,797,688 times
Reputation: 2027
The article linked has a big emphisis on Section 8 housing (housing for low income folks --where the govenrment picks up most of the tab), this might make a nice steady stream of income for the companines buying up the houses in the area, but long term I would guess that it will depress home prices in areas where these homes are bought.


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Old 04-26-2013, 10:49 AM
 
2,685 posts, read 6,059,775 times
Reputation: 952
Not a realtor but new home sales are a small portion of total home sales so maybe it wasn't enough to move the medium price much. Since the medium price by definition is the home price in the middle of all home sales (not an avg) an increase in higher priced home sales could easily move it up just like it moved super low because the past few years so a huge proportion of home sales at the bottom end.

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Originally Posted by FromGA View Post
No wonder they say lies, dam lines and statistics. There was a news that nationally -- new homes average sales prices were down significantly, but the median was either same or slightly higher..
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Old 04-26-2013, 12:10 PM
 
Location: Atlanta, GA
504 posts, read 1,549,033 times
Reputation: 192
Quote:
Originally Posted by jeoff View Post
The article linked has a big emphisis on Section 8 housing (housing for low income folks --where the govenrment picks up most of the tab), this might make a nice steady stream of income for the companines buying up the houses in the area, but long term I would guess that it will depress home prices in areas where these homes are bought.
I couldn't agree with you more.

$500 for rent in a SFH? WTF!? There are sketchy apartments by the DeKalb jail that charge more rent than that for a 2 bedroom. Don't even get me started flooding some of those neighborhoods with Sec 8.

I love this quote , “They don’t want to be known as slumlords.” HAH! Good luck with that. What a crock of s***. We'll see how well they renovate some of these places that they bought really cheap that need a lot of work to even get them back up to code and then rent them out for such a low amount. I'd hate to be the property manager for those.
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Old 04-26-2013, 12:31 PM
 
2,412 posts, read 2,797,688 times
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Originally Posted by sjuraud View Post
I couldn't agree with you more.

$500 for rent in a SFH? WTF!? There are sketchy apartments by the DeKalb jail that charge more rent than that for a 2 bedroom. Don't even get me started flooding some of those neighborhoods with Sec 8.

I love this quote , “They don’t want to be known as slumlords.” HAH! Good luck with that. What a crock of s***. We'll see how well they renovate some of these places that they bought really cheap that need a lot of work to even get them back up to code and then rent them out for such a low amount. I'd hate to be the property manager for those.
At least a property manager gets to go home and get away from the mess. I would hate to own a house next door to one of those.
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Old 04-26-2013, 12:38 PM
 
Location: Denver, Colorado U.S.A.
14,164 posts, read 27,295,754 times
Reputation: 10428
I don't understand how houses in Atlanta can be so CHEAP, considering how big the metro area is. I've seen multiple "House Hunter" episodes in Atlanta where they're looking for a 4 bdr., 4 bath, office, 3 car garage, newer house on a half acre and they're only around $200K. Is demand really low? Granted, the houses shown, while very big, didn't have high quality finishes inside and looked like they had vinyl siding on the back/sides.
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Old 04-26-2013, 12:52 PM
 
1,364 posts, read 4,331,121 times
Reputation: 400
Quote:
Originally Posted by noah View Post
Not a realtor but new home sales are a small portion of total home sales so maybe it wasn't enough to move the medium price much. Since the medium price by definition is the home price in the middle of all home sales (not an avg) an increase in higher priced home sales could easily move it up just like it moved super low because the past few years so a huge proportion of home sales at the bottom end.

The stat was about new homes only (that the median was same, but average was lower). And I can see how that can happen.

However, when one writes an article to disseminate this info, they can tell us either:
(a) median prices for new homes were same, or
(b) average prices for new homes declined, or
(c) Simply provide in bland terms what the mean/median/mode of the data was for several months, and let the reader interpret

Of course no body wants to do (c) - neither media not reader - so one just needs to use their common sense and make decisions as it fits their current needs. In my Asian-Indian language there is an old saying: What you see with your eyes is false, what you hear with your ears is false, better to investigate fully!
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Old 04-26-2013, 01:27 PM
 
Location: Atlanta, GA
504 posts, read 1,549,033 times
Reputation: 192
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Originally Posted by jeoff View Post
...I would hate to own a house next door to one of those.
Yep, that would be me! Hence the reason for my anger over that type of scenario if it plays out that way.

All you have to do is search for Continental Wingate Boulevard to get an idea of where that sort of thing could end up.
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