Governors Preserve: A Gem in Cherokee County and Decoding the NAR Lawsuit
Welcome back to the fourth and final segment of Go Gaddis Real Estate Radio, right here on AM 920, The Answer. In this segment, in our neighborhood spotlight, we're featuring Governor's Preserve in Cherokee County, way up there. And we're going to talk about the National Association of Realtors lawsuit.
You may or may not have heard anything about it. Don't forget we want to connect and it is easy. Go to gogaddisradio. com. G O G A D D I S radio. com. You can ask questions that we answer privately or on the radio. You can make comments or push back or challenge things we say or share ideas, especially if they're about making better decisions when it comes to buying, selling or living in a home or maybe being a landlord or a tenant.
You can also request that we do some additional research on your neighborhood. To call our critical changes over the last three years to help you understand as a homeowner in a particular neighborhood, whether or not you have a particular advantage, and we're going to do that right after this for governor's preserve in Cherokee County.
You can also subscribe to our podcast. We're available on every major podcasting platform. And I would love for you to be a subscriber to my podcast. In fact, it would be very helpful. I say thank you in advance. Each week we pick one specific Metro Atlanta neighborhood to call out critical changes. to let you know as a homeowner in certain neighborhoods, whether or not you might have a particular advantage this week.
We've chosen Governor's Preserve, which is in Canton, Cherokee County. Go north on 5 75 to exit 19, which is state route 20. Go right toward coming. Turn left on the Harmony Drive at Union Hill Road, two miles north on Harmony Drive. The neighborhood will be on the left if you're familiar with that area.
Governor's Preserve is a swim, tennis, golf cart community. Amenities include playgrounds, basketball courts, clubhouse, swimming pool with water slide and walking trails along the Etowah River. It is beautiful. I have sold lots of homes in Governor's Preserve over the years. So ten minutes to Etowah River Park, which includes an amphitheater, inclusive playground, canoe launch, recreational fields.
There are walking trails that connect the Etowah River Trail to the Heritage Park. You're 15 minutes from Hickory Log Creek Reservoir. 411 acre reservoir open year round for fishing. It's restricted to canoes, kayaks, electric powered boats. So if you want some peaceful... Peaceful fishing might be a great place to go.
No swimming permitted in that particular reservoir. It's a city water resource. FYI, 20 minutes to downtown Canton, restored historic buildings, including a former school, textile mill, the historic Jones mercantile building, restaurant, shopping and events, Canton theater and Cherokee art center. And it's also convenient to downtown ballground, which by the way, I've driven through ballground many times.
On a Friday evening or Saturday evening, and that can be a happening place with outdoor concerts and festivals and shopping and restaurants. And you gotta try the Ballground Burger Bus. You can't miss it as you drive through downtown Ballground, cause it looks like a bus. You got golf, golf, golf, some of the best courses in a 30 minute radius, white columns.
Golf Club at Bradshaw Farm, Woodmont Golf and Country Club, Echelon Golf Club, Manor Golf Club, and Callahan Golf Club. You have got tons of golf within 30 minutes of Governor's Preserve. Let's take a look at home values over the last three years. In 2021, there were 59 homes sold. There's about 400 ish homes in Governor's Preserve.
29, 59 of those sold. And it took an average of 29 days at an average sales price of 595, 000. In 2021, the average home sold for 0.2% higher than its list price. In 2021, excuse me, 2022 Sales prices increased $120,000 year over year from 5 95, 3 85 to 717,000. and 82. They range from a low of 600, 000 to a high of 860, 000 home sold for 2 percent more than their list price.
Year to date this year, 14 home sold. They've taken an average of 107 days. That's a long time for sellers. In that area, average sales price went up $10,000 over 2022. Year to date, $727,057. Let's just take a look. In 2012, the average home in Governor's Preserve sold for $269,215. When you compare that to the $727,000 value today, total equity for homeowners in the neighborhood has increased to 176.
2. 2 million. I'm gonna say that one more time has increased, not two has increased by 176. 2 million. There's currently seven homes available for sale in the neighborhood. There've been 14 homes sold in the past 365 days, which means there is six months worth of inventory 14 in a year, seven currently listed.
You can see how that's six months worth of inventory, which means in that neighborhood, it should be a buyer's market. Now it's a great neighborhood. My guess is the inventory that really looks great is probably still a seller's market. But if you have any average looking inventory, it could very well be advantageous to buyers.
The elementary school is Avery, the middle school is Creekland, and the high school is Creekview. Creekview High School gets a school chimp score of almost 90. 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, then you want to get a School Chimp report and it is easy.
Go to go gattis radio.com. Click on School Chimp. Uh, you won't see it on the first page, just when you get there, just click on more and then scroll down to School Chimp. Or you could just go to school chimp.com if you'd like to do that. That might be easier. And get a School Chimp report just now. Can you start searching?
By school districts in terms of homes for sale on Zillow, they are years and years behind the type of search we allow you to do on our site and through SchoolChimp. We give you a wonderful ranking, a rating system for the school on a scale of 20 up to 100. Something in the 90s or 100 as an A, then 80s B, 70s C, you know how that works.
We'll also give you all of the demographic information you're looking for, average age of a home. Percentage of homeowner occupied versus rental houses, educational attainment, household income, stuff that you might be interested in learning before you buy a home in a particular neighborhood. And you can get that again by going to go get us radio or just go to school chimp.
com if you are having trouble. Finding homes for sale, and every time you get to some place it's already gone. Somebody else already beat you to it. It could be you're searching on the wrong website. Now I know it seems like there couldn't be that much difference in one real estate for sale website versus another, but there can be, and I think you need to search SureMLS.
com. S U R E M L S dot com. Again, S U R E M L S dot com. We pull listings from both listing services. Which means the odds of you missing out on a listing when you search SureMLS. com are slim to none. So if you're frustrated because you're having problems finding a home that works for you, Don't delay. Go to SureMLS.
com. S U R E M L S. com. If you're looking to sell your home anytime in the next 6 to 12 months, there are so many ways. You can sell for all cash. You can buy your new home before you sell your existing home. You can sell it to a wholesaler or an investor for an all cash offer. There are so many things that you can do, but it can be so confusing.
So reach out to us at 770 497 0000 and say, I want confidence. That's where we'll help you know your options. We want you to call us before listing your home with anyone else. Regardless of where you are in Atlanta, make sure you talk with us first. For those of you who may or may not have heard, there is a gigantic lawsuit going on in the real estate industry.
It's really simple. In real estate, agents must be members of a multiple listing service in order to put their listings in there. In most cases, those multiple listing services are Controlled and operated by the local or the state board of Realtors. The National Association of Realtors says that if you put a listing in the listing service, that you must have an offer of cooperation.
There were sellers in a couple of Midwest states who said, Look, you colluded to cooperate. It costs me more money. So they're saying I could have not paid the buyer's agent commission. I could have saved that and still sold my house. Now I think that's a flawed argument because the reality is that sometimes the commission that gets paid to a buyer's agent, let's say it's, you know, two and a half or 3 percent to the seller's agent or two and a half to 3 percent fully negotiable depending upon who you're doing business with to the buyer's agent.
Um. Yeah. Okay. Thanks. Yes, it's negotiable, but but if you don't offer cooperation, buyers agents might choose to show other properties. Now, that's a whole other problem that we need to deal with. There were the National Association of Realtors was sued, Keller Williams, Remax, Anywhere, which is Cola Bankers, Century 21, all those other big brands, and Berkshire Hathaway Home Services were all sued.
Remax and... Um, uh, anywhere settled. I think anywhere was somewhere in the 80 million. Remax was in the 55 million. They didn't settle. I don't believe because they thought they were doing anything wrong. They settled. Because they didn't want their broker owners and franchisees and agents all over the country to worry about having this cloud over their head for the next few years.
So this case is going to be going to trial. And here's what I think is going to happen. I think they're going to decouple the buyer's agent commission from the listing agents commission. So meaning a listing agent could put a listing in the listing service and put An offer of cooperation of 0%. I think brokerages are going to have to agree that, well, you'll still show the property, which means the buyer could very well be responsible for paying their agent.
I think it's going to do us good because the reality is. In many cases, buyer's agents didn't really do a good job of, number one, explaining how they would earn their fee. And then sometimes they didn't even do a good job of earning their fee. And I think it will add a whole other level of professionalism and accountability to the buyer agent side of the business.
So, do I think it'll change things much? Probably not, because I think home sellers are going to want to have as much exposure as they can. If they can get more exposure by paying 2. percent on the buyer's side, they might very well sell the house for 2. 5 or 3 percent more. It is my belief, and this and a quarter will get you what a quarter will buy you, that sellers were not harmed.
By having to pay a buyer's agent commission, I would tell you that the sales price probably increased by at least enough to pay the buyer's agent commission. Don't forget to come see us Saturday, November the 18th, 10 to 3 PM. Get your pictures with Santa and pick up your free Thanksgiving pie. Sign up at Go Gaddis Radio.
com. We appreciate you joining us for another week's edition of go Gaddis real estate radio. We'll talk to you next week. Same time, same channel. Have a great week, Atlanta. Happy Halloween.