Exploring Tomorrow's Homes and Today's Decisions: 3D Printing and Homeownership
-This is a transcript from Go Gaddis Radio to listen to the episode click here-> https://on.soundcloud.com/ojtw4
Welcome back to the fourth and final segment of Go Gaddis Real Estate Radio this Saturday morning. In this segment in our neighborhood Spotlight, we are featuring Spalding Lake in Sandy Springs. If you live anywhere, Sandy Springs, Roswell, city of Atlanta, Brookhaven. You want to pay attention to this segment 'cause what's happening in Spalding Lake might be the same thing as what's happening in your neighborhood.
What are pros and cons of owning a three D printed home? I'd like to act like I'm a three D printed home expert. The reality is, is that I knew they existed, but I know a lot more about 'em after a segment we did on the show a couple weeks back and we had a listener question, we received a listener question wanting to know what are the pros and cons of living in a three D printed home?
I don't know that you have any opportunities to live in a three D printed home here in Atlanta, Georgia currently, but maybe you will. And are you ready to buy a home? Or maybe should you wait, how would you even know? I've got three questions you should ask yourself to determine whether or not buying a home makes sense for you.
Don't forget, we want to connect with you and it's easy. Go to go gaddis radio.com. Go G A D D I S radio.com. You can ask questions. You can make comments, you can push back or challenge anything we say. You can ask questions on air or off air or questions that we answer on air or off air. You can share your ideas with us, which we love.
We get some of the most creative ideas when people say, let me tell you something that I did. I remember many years ago, we asked people to share ideas, and somebody wrote in and told me about the little storage area they had on the wall at their front door where they had. Uh, different types of chargers for their phones and places for keys, and it was just the coolest little thing.
And I love sharing those types of ideas on the show. You can request your neighborhood be featured in our neighborhood spotlight and. You can subscribe to our podcast each week. We pick one specific me Metro Atlanta neighborhood to call out critical changes to let you know as a homeowner in the neighborhood how you might have, or whether or not you might have a, an advantage when it comes to selling your home.
This segment is on Spalding Lake. It's in Sandy Springs, Fulton County, of course, uh, 85 north of Georgia, 400 North. If you're coming from the city, use exit five, which is. Abernathy Road turned right on Mount Vernon, which becomes Spalding Drive, and the neighborhood is on the left. I used to live in Peachtree Corners and I used to do a lot of landscaping work in the Marietta area, and so to say that I burned up Spalding Drive in Mount Vernon would be an understatement.
Spalding Lake. One of my tutors. So I, I grew up in a subdivision called Spalding Corners in, uh, Peachtree Corners At the time, Norcross, um, and Spalding Lake was where my math tutor lived. As I would drive toward Dunwoody, I would go see my math tutor and thank God for her, because I was not the greatest math student, but she certainly helped me.
I wish I could remember her name. She lived in Spalding Lake. Anyway, Spalding Lake is a swim tennis community located in Sandy Springs. We used to call it Dunwoody consists of just under 200 homes with a community clubhouse and a lake with walking trails. It's less than 10 minutes to Brook Run Park, which has an amphitheater and a great lawn, multi-use trail, sports fields, a community garden, dog park, disk golf, which will be cool in playgrounds, as close to Treetop Quest, Zipline Adventures.
It's 10 minutes to shopping and service in Dunwoody Village. 10 minutes to Dunwoody Cultural and Art Center, which is home to Sprole Art Center, Stagedoor Player, Chattahoochee Head Weavers Guild and Dunwoody Library. And it's 12 Minutes to Dunwoody Nature Center Adult and Chil, which has adults and children's programs, walking Trails, playgrounds only 15 minutes to Perimeter Mall.
It's a great location and as I said, I used to spend a lot of time there as a, um, as, as a kid. Uh, 'cause that was where my math tutor lived and I wish I could remember her name, but I send out a special thanks to her 'cause she helped me big time pass all of my math classes. In 2028 homes sold in the neighborhood.
They took an average of 58 days from listening to contract. The average sales price was 600. In $98,000 in 20 21, 13 homes sold. They took an average of 81 days. That's a long time In 2021, even 58 days in 2020 was a long time. Average sales price $734,000 is an increase of 36,000 year over year. In that year, they range from a low of 585,000 up to 1.195 million.
In 2022, only six homes sold. They took an average of 14 days. That is a far cry below the 58 and 81 days. In 2020 and 2021. Average sales price increased 150,000 year over year. Average sales price increased is from 735,000 up to $873,000. They range from a low of 750,000 up to a high of 1.2 million sales price to list price ratio homes sold for 6.6% more than they were listed.
For this year, only two closings. Year to date average sales price, 872,000, so just a little bit below where it was this time last year, only two sales, one at 815,000. The other at 930,000. Two homes for sale in the neighborhood right now and only two homes have sold in the last 365 days. Excuse me. Three homes have sold in the last 365 days, which means there's eight months worth of inventory.
Now, if these homes are nice, I'm not gonna say that it's a buyer's market in that neighborhood, but when you have more than five months worth of inventory, we say it is a buyer's market, again, just a little under 200 homes in the neighborhood. In 2012, the average. Value of a home in that neighborhood was $401,000 today or at the end of 2022.
8 73 means homeowner Equity in that neighborhood has increased $86 million. Served by Dunwoody Springs Elementary, Sandy Springs Middle School, and North Springs High School. North Springs High School gets a School Chimp score of 80. If you're the type of parent who doesn't want a monkey around with your kids' education or the school's effect on home values.
Go to go gaddis radio.com. G O G A D D I S radio.com. Click on School chimp, put in a little bit of information. Tell the system whether you want to compare your school to one other school or your school to the average of all schools, and it'll do produce for you a customized, very detailed report that I think you're gonna really like.
It'll give you all of the real estate data for that school and the others so you can compare it. It'll give you demographic information, meaning. What percentage of homes are occupied by homeowners versus renters? What's average educational attainment? How? How well educated are parents in the area? And I'm not saying you need to live in an area where the parents are more or less educated.
What I'm telling you is if you wanna live in an area where the schools are better, that to find parents that might be a little better educated might give you a better chance. Of having other families value education the way you value education. And it will also, um, give you a school rating on a scale of zero to a hundred, and it'll give you a school rating.
Uh, something in the nineties is an a, eighties is B, seventies is a C, you know how it works. Go gaddis radio.com, click on School Chimp. Just put in a little bit of information. If you're searching for home for sale and you continually feel like you're not finding what you need or. Uh, you're frustrated because you're not finding what you need.
You just need to change where you're searching and it's real simple. Go to sure mls.com. SS U R e, ml ss.com. Sure. mls.com. S U R e mlss.com pulls listings from both listing services. That is my website, and if you start searching on Sure mls.com, my guess is that you will. It'd be way more likely to find what you need if you've just joined us.
You're listening to Go Gaddis Real Estate Radio right here on AM nine 20. The answer, onm, Cleve Gaddis. I'm your host. Are you curious about what homes will look like 50 years from now? We did a segment, not last week, but I believe the week before on three D printed technology made specifically for building houses in the real estate market.
We got a, we received a listener question from Marlon and Winder. On one of your recent shows, you discussed three D printed homes. What are the pros and cons of owning one of these homes? And I had to do some research because the answer Marlin, is if you wanted it directly for me, is, I don't know. We recently started talking about those three d printing tech technology, the three D printing technology and how it was used in homes.
Uh, the industry is starting to understand it can be profitable. Uh, but, but, but what are, what are the pros and what are the cons? The pros are it, It can build houses at a relatively low cost. Saves a lot of time to print a home instead of to build it from scratch, and you have infinite design possibilities.
If you haven't seen a three D printed home, if you imagine kind of an all solid, maybe down in Miami or in Phoenix or someplace where it's really hot, a solid concrete, or maybe a block in stucco home, that's kind of what they, they look like. The cons of three D printed houses is as difficult to find raw materials.
In some cases, it can have a negative impact on manpower, meaning you pay out a lot less wages if you don't need, uh, people, as many people to build the home. Other issues are you've, the, the printer is, is it's a big robot that's as wide as the house is, and moving those printers from one place to another can be very difficult.
Uh, also, you know, Any risk of poor designs or having to go back and fix things, increase because the three D printer, it prints out everything on the model or design all at once. And then although three D printing itself is very rapid, the rest of the aspects. Of work can make it a very slow process. So I don't think, uh, by the way, uh, Marlon, that you have any chances of buying a three D printed home in the area anyway.
But those are my list of pros and cons. Don't forget right after the show today, from 10 to 11:00 AM on a Wednesday evening, August 30th, starting at seven. From seven to eight, we've got six keys to success in real estate investing. Go to go gattis radio.com, click on uh, the free investing webinar tab and put in some information and we will get you included in both of those.
Do you think you're ready to buy a house? How in the world would you know? Aaron and Loganville says, like many, we have a lot on our mind with working kids and gas and food and other costs. We wanna buy a home, but we're not sure if the time is right. And I say, ask yourself three questions. Number one, do you have a stable job?
Number two, have you figured out what you can afford? And I don't mean run some calculations yourself. I mean, talk to a lender that you know and trust. And then number three, and this might be the most important question of them all, how long do you plan to live there now? The home I just bought, that I bought within the last couple of months, I know I'm only gonna be there two or three years, kind of a transition place, but I plan to keep it as an investment property after I live in it.
So it doesn't matter that I'm only gonna be there for there for a couple of years. In many cases, if you bought a home and you were gonna be there a year or 18 months, All the additional cost to get into the home would make it where it was not necessarily worthwhile. So ask yourself those three questions, Aaron and I think it'll help you make the best decision you can possibly make.
I appreciate you joining us for another week's addition of Go Gaddis Real Estate Radio will be back next Saturday, same time, same place. We look forward to talking to you then. Have a great week, Atlanta.