Champions Run in Suwanee; First Time Home Buyer Questions; Atlanta Considers Bans near the Beltline
-This is a transcript from Go Gaddis Radio to listen to the episode click here-> https://on.soundcloud.com/fcB61
Welcome back to Go Gaddis Real Estate Radio right here on AM nine 20. We really appreciate you joining us this Saturday morning in this segment of the show. In our neighborhood Spotlight, we're featuring champions run in Suwanee, not Gwinnett County Suwanee, but for Side County Suwanee.
Also, we've got questions every first time home buyers should ask as they tour homes. And we're gonna discuss some bans. Some prohibitions that the city of Metro Atlanta, the city of Atlanta, is considering near the BeltLine. If you want to connect with us, make sure you go to go gaddi radio.com, G O G A D D I S radio.com.
You can ask question. You can make comments, you can push back, you can share your ideas with us. You can challenge anything we're saying. You can request your neighborhood be featured in our neighborhood spotlight, and you can subscribe to our podcast. We would love for you to be a podcast subscriber.
Each week. We pick one specific Metro Atlanta neighborhood to call out critical changes over the last few years to let you as a homeowner in the neighborhood. Know how you might have a particular advantage when it comes to, or whether or not you might have a particular advantage when it comes to selling a home in the neighborhood.
Champions run if you are. Taking 400 North, you would exit at exit 13, which is Peachtree Parkway. You would turn right then fairly quickly, turn left onto Sharon Road and then continue to old Atlanta. Take a left on James Burgess and the neighborhood is on the right. You would enter on winning colors Court.
What a fantastic name for a street in the neighborhood in 20. , the average sales price of a home in Champions run was $458,472. The LO sales price was 375. The high sales price was 535,000, and, um, a total of 18 homes sold and they averaged 69 days from the day they were listed to the day they went under contract.
Homes sold on average for 99% of their list price, which means sellers discounted the price 1%. The next year. In 2021, there were eight homes sold. That is a low, low number of homes. We would expect there to be over 20 homes selling in a neighborhood like this on an annual basis, you ask why we would expect the turnover rate to be close to 7%.
Seven times four. Almost 400 would be closer to 20. In 2021, there were eight homes sold. They took an average of seven days, and the average sales price jumped from 458,000 to 580,000 $120,000 jump year over year. They ranged from a low of 476,000 to a high of 625,000. Average sales price to list price ratio 104.4%, which means the average listing in the neighborhood sold for 4.4% more than it was listed for in 2022.
Had one more sale, a total of nine sales for 2022. The number of days on the market dropped to an amazingly low. Four days on the market. The average sales. Increased $200,000, almost $200,000 to 773,000 from 580,000. The prices range from a low of 673,000 to a high of 850,000, and the list price to sales price ratio was 106.3%, which means the average home in the neighborhood sold for 6.3% more.
Then it was listed for. Currently there is one home available for sale in the neighborhood is listed at $850,000, which matches the high sale from last year. That means there is 1.33 months worth of inventory in the neighborhood, which means if no new homes come on the market in the neighborhood. It will take 1.3, three months, so it'll take about five and a half weeks, if you will, to sell the one home that is listed.
If you have less than four months worth of inventory. We say that is a seller's market, so in this case, Champion's Run is a fairly strong seller's market still at this point, if you have four to five months worth of inventory, we say that as a balanced market. And if you have more than five months worth of inventory, we say that is a buyer's.
In 2011, the average home sales price when 25 homes sold was 271,248. Listen to that, Atlanta in 2011, the average sales price of a home in champions run was 271,248. If you look forward to 20 22, 11 years later, the average sales price 770 3007 78, which means if you take those 375 plus or minus homes in the neighborhood, They have increased homeowner equity in those 11 years to the tune of 188 and a half million dollars.
Listen to that 188 and a half million dollars. The elementary school is settles bridge. The middle school is River Watch. The high school is Lambert. Lambert gets a school chimp score of 100. If you are the type of parent that doesn't want a monkey around with your kid's education or the school's effect on home values.
You need a School Chimp report? How do you get one? Go to go gaddis radio.com. Click on School Chimp. Go to go gaddi radio.com. Click on School chimp. Put in just a little information on the high school you're looking to get the score on and tell the system whether you'd like to compare it to the average of all Metro Atlanta high schools or to a specific individual Metro Atlanta High School, and the system will email a report directly to you.
Do not worry, we do not sell your information to anyone else. Agree to protect your information. If you are interested in understanding a good true score, uh, not a great schools, not a school digger score, but a true, really good, accurate score, and you want to have all of the real estate and the demographic information overlaid on that real estate report, then you absolutely, positively need a School Chimp report.
If you are searching for. To purchase and you are not finding what you're looking for. It could be you're searching on the wrong site. Now, how could one site possibly be wrong compared to the others? Well, in Metro Atlanta, we have two listing services, and if you are searching on a website that pulls listings from one listing service, You might very well be missing some of the best listings.
You might be missing the listing. That is the idea listing for you. How do you solve that problem? It is easy. Go to sure. mls.com. S U R E M ls.com. Sure. mls.com. If you've just joined us, you're listening to go GA US Real Estate Radio right here on AM nine 20. The. I'm Cleve Gaddis. I'm your host and I am so excited you are here with me on this Saturday.
In addition to being a full-time real estate agent and broker, with a team full of agents helping buyers, sellers, investors, and landlords buy and sell all throughout Metro Atlanta, I am also the host of this show. If you wanna reach me, it's easy. 7 7 0 4 9 7 0 0 0 0. Again, 7 7 0 4 9 7 0 0 0 0. If you are a first time home buyer and you're searching for your dream home, but you really don't know what questions you may need to ask, and you're concerned that you might be forced to make decisions without having all of the information you need.
On which to make those decisions. And I've got a list of questions first time home buyers should ask on a home tour. The first question is simple, and this is to the agent. Why did you choose this home for me? Naturally, if you chose the home yourself, you don't need to ask the question. Finding the right home may mean doing some compromising.
So make a list of the necessary home amenities compared to the optional ones, and then refer back to your list. So you're asking the agent to tell you which items on my list does this home match? Number two, should I be concerned with anything about the house? And this is really a good question. Ask your agent.
To voice any concerns about the home, they may notice possible problems and, and make them apparent to you. They might notice something that might make the home more difficult to sell, and don't be afraid to ask that question. Number three is the price in my budget. When it comes to buying a home as a first time home buyer, normally we're concerned with how much money do I have to bring to closing, and how much money will I have to pay every month after closing.
and you need to have your agent and your lender standing at the ready to give you that information to make sure you're not looking at homes that push you outside of your budget. Then I think the last question I would ask is, how long has the home been on the market? You know, determining how long a home has been on the market could really factor into its price or what you as a home buyer are willing to offer if it's newly.
you may have have less leeway to negotiate the price compared to a home that's been on the market for a couple of months. The reality is, is if you want a good deal on a home, you're looking for a motivated seller. And I have found that over time the trend is for sellers to get more motivated the longer the home is list.
If you've just joined us, you're listening to Go Gaddis Real Estate Radio right here on AM nine 20. I'm Cleve Gaddis and I appreciate you listening to the show. If you're looking to sell your home anytime in the next six months, give us a call. You can either call 7 7 0 4 9 7 0 0. Zero zero or you can go to go ga us radio.com and ask for our seller confidence plan.
Just call and say, I want to be confident when I sell my house. There are four or five different ways to sell a home. You could do an all cash transaction close in 21 days. We can help you with that. You could buy your new home before you sell your existing home. We could help you with that. You could do a regular, traditional market sell.
You could also improve your home before you sold your home, and we can help you with any of those types of sales. But you need to know your options. So commit to me that you'll call us before you're list before listing your home with anyone else. 7 7 0 4 9 7. 0, 0, 0 0. This is from the Atlanta Business Chronicle.
The City of Atlanta considers limits to gas stations, drive-throughs, and parking near the BeltLine. As I read this article in the Atlanta Business Chronicle, I was thinking, why would they be limiting this? But it is really all about pedestrians. Safety. Uh, there are unfortunately, and I have not read any incidents, but people getting hit by cars and in some cases there're being deaths that are resulting.
The Atlanta City Council member Jason Dozer, Dozier, D O Z I E R, introduced three pieces of legislation, which include bans on gas stations and drive-throughs within a half a mile of the BeltLine loop. Another component of the proposed change would remove minimum parking requirements. Allowing developers to create real estate projects with less of an emphasis on cars.
In many cases, your number of parking spaces is determined by the square footage of retail or residential property that you have. And I think they're saying in some of these areas, especially, you get areas around the belt line, they're a little lower income areas, cars are less likely. So people are really walking from place to place.
As I mentioned earlier, the proposal coincides with a steady rise in pedestrian fatalities and injuries both around the BeltLine and elsewhere. If you want more information, just pick up your local, your copy of the Atlanta Business Chronicle, or search 'em online for that information. We have appreciated you joining us for another week's edition of Go Gaddis Real Estate Radio.
We'll be back next Saturday at nine o'clock. We look forward to talking to you then. Have a great week, Atlanta.