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Old 12-14-2007, 08:18 AM
 
140 posts, read 117,303 times
Reputation: 13

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Redkrayola,

Good post. Let's continue to share information on general home purchasing strategies and the local housing market.

I invite everyone to share their recent home purchasing experiences in the Columbia County Market.

Please include details such as: Subdivision, Negotiations, Market Prices, Offerings, Discounts, Incentives, etc....

I understand that based on the current condition of this market and the time of year, information on this topic maybe slow coming.

 
Old 12-14-2007, 07:37 PM
 
140 posts, read 117,303 times
Reputation: 13
Fannie CEO: Housing Trouble Until 2009

By MARCY GORDON, AP Business Writer
4 HOURS AGO
WASHINGTON - Fannie Mae's CEO told shareholders Friday he does not expect a housing market recovery until late 2009, "at the earliest," and that the mortgage-finance company is strong enough to ride out the downturn.
Fannie Mae "will weather the turbulence of today's mortgage market and prosper when better conditions return," the president and CEO, Daniel Mudd, said as he and other top executives faced shareholders for the first time in three-and-a-half years at an annual meeting.

It maybe be a long road to the bottom!

Last edited by Looking For a Home; 12-14-2007 at 07:53 PM..
 
Old 12-14-2007, 09:46 PM
 
38 posts, read 98,164 times
Reputation: 15
Default 2008 Housing Forcasts

From Bloomberg: Housing Crash Deepens in 2008 as U.S. Realtors See Record Drop
Analysts at New York-based CreditSights Inc. predict housing won't rebound until ``2009, at best.'' Moody's Economy.com Inc., the economic forecasting unit of Moody's Corp. in New York, says home sales will hit bottom next year, declining 40 percent from their peak.
The peak for existing home sales was 7.076 million in 2005. So 40% off the peak would be 4.246 million units next year.

And from AP: Fannie CEO: housing trouble until 2009 (broken link)
Fannie Mae's CEO [Daniel Mudd] told shareholders Friday he does not expect a housing market recovery until late 2009, "at the earliest" ...
OK, not a specific 2008 forecast, but still interesting.
Here are a few other forecasts:

NAR, Dec 2007 (http://www.realtor.org/press_room/news_releases/2007/ehs_dec07_trend_up_2008.html - broken link):
Existing-home sales are likely to total 5.67 million this year, the fifth highest on record, rising to 5.70 million in 2008, in contrast with 6.48 million in 2006.
From AP: (broken link)
Patrick Newport, an economist at Global Insight, forecasts that home sales will drop from 5.66 million this year to 4.7 million in 2008
Back in August, Goldman Sachs forecast existing home sales would fall to 4.9 million in 2008. However, since then, Goldman has becoming even more bearish on housing.

To put these numbers in perspective:


Click on graph for larger image.

This graph shows sales as a percent of total owner occupied units. This is a measure of turnover of existing homes.

It appears sales in 2007 will come in at about 7.5% of owner occupied units, well above the long term median of 6%. If sales fall back to the median level, sales will be around 4.5 million in 2008. Note also that usually sales fall below the median level during a housing slowdown.

Here are a few existing home sales forecasts:

Forecaster / Units / Percent of Owner Occupied Units
National Association of Realtors / 5.7 million / 7.5%
Goldman Sachs (August) / 4.9 million /6.5%
Global Insights / 4.7 million / 6.2%
Moody's Economy.com / 4.25 million / 5.6%

From http://calculatedrisk.blogspot.com/
 
Old 12-15-2007, 06:30 AM
 
38 posts, read 98,164 times
Reputation: 15
Geez, Dough boy, Looking for a home asked you nicely to chill out and let folks talk about the Columbia county housing trends.
You've made your point....OK, OK, OK, OK.....I promise to shop in West Augusta occasionally on my way home to the house I’ll be buying IN COLUMBIA COUNTY!
Since I’ll be working on Fort Gordon, I’ll stop outside the gate and pick up some milk or something while I’m ON MY WAY HOME TO COLUMBIA COUNTY.

Oh, btw, there are Federal sponsored Section 8 housing units (the only list I could find), as well as State/local sponsored units. Additionally, there is public housing, which is completely different. Its government owned housing subsidized with our tax money. Section 8 is vouchers for the “lucky” low-income folks to live in privately owned apartments.

Quote:
“Today, the Augusta Housing Authority is the second largest Public Housing Authority in the State of Georgia and helps to provide housing for about 14,000 individuals. The agency owns and operates 2,769 units of Conventional Public Housing and assists families with over 5,600 units of tenant and site based Section 8 vouchers.”

Source: http://augustapha.org/augusta_housing_authority.htm

Last edited by Redkrayola; 12-15-2007 at 06:39 AM..
 
Old 12-15-2007, 09:55 PM
 
1,072 posts, read 2,033,429 times
Reputation: 85
what is your problem?
I have posted links to current census figures from the census bureau...
links to recent news stories from The Augusta Chronicle detailing the gang problem. If there is a story of a major gang raid in Columbia County netting over 70 ppl... then by al means post it.. So far all I have seen you post is anecdotal... and photos of houses, etc..
Every point I have made on this thread has been backed up with valid references.. these are not opinions... they are facts...just because you don't like reality doesn't make it any less real.
Is there crime in Columbia County? Sure. There is crime everywhere.. but their is significantly MORE crime in Richmond County.. even when you adjust for the population difference.. Redkrayola posted GBI data in this thread comparing crime in the two counties... crime in richmond county was tenfold what it is in Columbia county.. This is not someone's opinion... these are facts backed up by real numbers.
In any case this thread is supposed to about the housing market of Columbia county...so I'll leave it at that.
 
Old 12-15-2007, 11:21 PM
 
38 posts, read 98,164 times
Reputation: 15
Alrighty then!….Breaktime is over.

For those who are serious about living in Columbia County, check out this excellent document.
http://www.columbiacountyga.gov/Index.aspx?page=2976
Here is just a small excerpt on what it contains:

Housing
Introduction .................................................. .......................................16
Residential Growth in Columbia County .............................................16
Current Housing Stock............................................. ...........................16
Age of Housing Stock .................................................. .......................18
Housing Growth .................................................. ................................18
Household Type.............................................. ....................................18
Housing Cost .................................................. ....................................20
Housing Trends............................................ .......................................21
Housing Stock and School Age Population ........................................21
Housing Forecast.......................................... ......................................22
Summary and Needs Assessment........................................ ..............22
Economic Development
Introduction .................................................. .......................................23
Setting – The Region .................................................. ........................23
Setting - The County .................................................. .........................24
Economic Base Inventory .................................................. .................25
Columbia County Employment Trends ...............................................26
Major Development Trends and Unique Economic Opportunities ......26
Retail Trade and Services.......................................... .........................27
Medical Industry and Health Services.......................................... .......27
Tourism........................................... .................................................. ..27
Construction...................................... .................................................. 28
Manufacturing and Wholesale Trade .................................................. 28
Fort Gordon............................................ .............................................29
Per Capita Income .................................................. ............................29
Income per Sector............................................ ...................................29
Inventory of Major County Level Economic Activities .........................31
Labor Force Participation and Employment........................................ 31
Commuting Patterns .................................................. .........................31
Local and Regional Economic Development Resources ....................32
Economic Development Agencies .................................................. ....32
The Central Savannah River Area Regional Development Center
(CSRA RDC).............................................. .........................................32
Augusta Metro Chamber of Commerce ..............................................32
Education and Training Opportunities..................................... ............33
Georgia Power Company, Economic Development Division ..............33
Georgia Department of Economic Development ................................33



 
Old 12-16-2007, 06:25 AM
 
140 posts, read 117,303 times
Reputation: 13
Guys, please move this debate to the Richmond Vs Columbia County Thread.

Thank you!
 
Old 12-17-2007, 11:09 AM
 
Location: 78251
9 posts, read 39,583 times
Reputation: 15
Does anyone know of a way to determine how long a property has been listed on MLS? I couldn't find the info on mlsaugusta.com and thought some of you pros might know of a way. I know I could ask a realtor to pull it, but I wanted to know if there was a way I could do it. Thanks in advance.
 
Old 12-17-2007, 12:07 PM
 
140 posts, read 117,303 times
Reputation: 13
Are there any Columbia Country home sellers out there?

What are your thoughts of this market?

DOM is a big issue in this market! It would be nice to know this information, but I think you need access to the MLS stats. Be careful, sometimes people relist the house to reset the DOM.
 
Old 12-17-2007, 04:03 PM
 
38 posts, read 98,164 times
Reputation: 15
Yup! Here is an article excerpt written by an Augusta broker highlighting that exact scenario:

Stupid Trick #5: Continually relist the home to hide the past.
Whats that ‘black hat’ trick? Well, that one is old as the hills, and happens throughout the United States. Lets say you list your home with a high initial asking price. After a month of no showings, you are starting to get frustrated. Thats when your listing agent suggests lowering the price, so naturally you go along with their advice. They could just change the price on the listing, but they don’t. What they actually do is pull the home off of whatever MLS they may be using, then create a new listing for the home at the lower price. Then the agent ‘relists’ the home. This starts the clock all over, and it appears that the home is newly listed due to the last listing date.
An agent doing this could claim a lower time-on-the-market before sell, or that they had x # of home listings in the last year, etc. There are other agents that play a variant on this game where they change the wording on the description or fix a miss-spelled word, doing whatever it takes for an excuse to re-list. Some agents will do this 4-5 times per home listing. MLS boards are starting to crack down on this, but it still happens, and in some cases state or local legislation has been proposed to deal with the problem.
One of the funniest instances of this that I personally encountered is where an agent sent a mailing of glossy postcards to all the addresses in my neighborhood. On it, they claimed that they had sold a nearby home less than 12 days after receiving the listing! The real story was that they had relisted the home multiple times- in fact the home had been on the market for many weeks. Every homeowner in the neighborhood knew that. But, the home had indeed sold only 12 days after the last re-list.

You can read the entire article at: http://www.northofthesavannah.com/po...y/information/
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