-This is a transcript from Go Gaddis Radio to listen to the episode click here-> https://on.soundcloud.com/2sK3z
Welcome back to the fourth and final segment of Go Gaddis Real Estate Radio right here on AM nine 20. The answer in this segment in our neighborhood Spotlight. We're featuring Lennox Linnux. I don't know why I'm having trouble saying Linnux today.
Lennox Park in Sugar Hill. Also heating your home efficiently. Do those digital smart thermostats actually make a difference? And what is the, what are the most common buyer must haves for 2023? Don't forget, we want to connect with you and it is easy. Go to go get us radio.com. You can ask questions, make comments.
You can push back, you can request your neighborhood. Be featured in our neighborhood spotlight. And you can subscribe to our podcast. We are available on every major podcasting platform. Just go to go gadi radio.com. Scroll to the bottom, look at podcast, or in the top toolbar. Just click on podcast and you can subscribe on whatever your favorite podcasting platform is.
Each week we pick one specific Metro Atlanta neighborhood to call out critical changes over the last few years to help you as a homeowner in the. Understand whether or not you might have a particular advantage in the neighborhood. This week we are featuring Lennox Lennox. I am struggling with the word Lennox Lennox Park in Sugar Hill.
If you are taking I 85 North, you go I 9 85 North to exit four. You turn left on Highway 20, left onto West Broad Street, and then right onto the Whitehead Road. The neighborhood is on the. There are about 250 plus or minus homes in the neighborhood. In 2020. There were 10 homes that sold for the year. We would normally expect that to be 14 or 16 or 17 homes cuz we normally expect about a 7% turnover.
In these neighborhoods in 2020, it took an average of eight days from listing to contract. The average sales price was 258,800. They ranged from a low of 235 up to a high of 280,000 homes sold for 100.2% of their list price, which means. Home sellers got 0.2% more than the home was listed for in 2021, there were 11.
Home sold. Just, uh, one more than 20. 20 took 11 days on average. Average sales price, uh, bumped, let's see, 60,000, 40, uh, about $60,000 year over year to 323,250 ranged from a low of 260,000, up to a high of 372,000. The average sales price to list price ratio 103.4%, which means the average home in the subdivision sold for 3.4% more than it was listed for.
That's a good number to know. In 2022, there were nine home sales that took an average of 11 days from listing to contract. The average sales price bumped another. 50,000, uh, so jumped, I believe I said, 60,000 from 2020 to 2021, another 50,000 from 2021 to 2022 to $377,056 on average. That ranged from a low of 215,000 up to a high of 428,000.
Average home in the neighborhood. Sold for 1.9% more than it was listed for. There is currently one home available for sale in the neighborhood. It is listed at $469,000. That is moving up from the $428,000 high price set in 2022. There are currently 0.75 months worth of inventory, which means. Based on sales patterns, based on the number of sales that took place in the neighborhood over the last 365 days, which is a total of nine.
It says if you have one home available for sale, then it should take 0.75 months to sell that home. You know, now that I'm looking at that, there is something wrong in that. Math. The reality is, is there's a month and a half's worth of inventory. I apologize. I've got a value analyst that helps me with this research and sometimes mistakes.
Get in here. No big deal. One and a half months worth of inventory. It'll take one and a half months, take six weeks to sell one home in that particular neighborhood there, 244. ISH, 250 homes in the neighborhood in 2012. The value of a home in the subdivision, Lennox Lennox Park at Sugar Hill. I am not gonna be able to say Lennox today.
I'm not sure what's wrong. In 2012, the average sales price was 126,000 938 20 22. At the end of the year, 377,000, which means homeowner equity in that neighborhood. Those 250 plus or minus homeowners have increased their equity to the tune of $61 million. Subdivision is served by Sugar Hill Elementary and Lanier Middle School and Lanier High School.
If you are the type of parent who doesn't want a monkey around with your kid's education or the school's effect on home values, you need to get a School Chimp report. What is that you ask? It is the most comprehensive rating system. And reporting system on the real estate market and the people who buy and sell and live in homes in a real estate market.
It's the most comprehensive one out in the market today. I don't think you can find anything else like it. Go to go gaddi radio.com. Click on School Chimp. Put in a little information, tell the system the school you want to get the rating on, and whether or not you want to compare that school to another individual school or to the average of all metro Atlanta high schools, public high schools.
That is, and it'll run a report for you. It'll give you a ranking on a scale of 20 to a hundred. And you really, if you're thinking about selling a home or buying a home anywhere in metro Atlanta, you need to order one of these school Chimp reports. I'll be honest, don't, uh, hesitate. Go. , go get us radio.com, click on School Chimp, or you can go to school chimp.com and order your report.
You will also get all of the real estate data, the number of home sales, the average sales price today on the market, all that stuff that you're looking for for the last five to seven years, and you will get the demographic information that is interesting to you. In other words, what percentage of homes in that area school district are rented or.
Occupied by homeowners. What is the average educational attainment of a parent in the area? What is the average household income? What is the size of home? What's the average age of a home in the area? Lots and lots of really, really good information. Again, you get one of those by going to go gadi radio.com, G O G A D D I S radio.com.
Click on school chimp, put in a little information that'll send you the report if you've just joined. You are listening to Go Gaddis Real Estate Radio right here on AM nine 20. The answer, if you are searching for a home for sale and you are just not finding something, that is what you're looking for. It could be that you are searching on the wrong website.
Now I know you're thinking to yourself, while all websites must be the same, they all pull from the same data, will, that in itself is the problem in Metro Atlanta. All real estate. Websites are not the same. Metro Atlanta has a unique situation. Then it ha in that it has two listing services in the same market area.
You're probably thinking, why on earth would they do that? And the reality is, I have no idea why there are two, but there are two. And so if you search sure mls.com, S U r e m ls.com, that site is gonna pull listings in both listing services to guarantee you that under no circumstances will you miss the listing.
That could be right for you. How do you find it? Go to sure mls.com. S U R E M ls.com. We've got an article and it is, oh, excuse me. No. First, now that we're getting into cold winter months, have you considered how your home is heated and do all of the thermostats in your home, uh, do they help with your heating bills?
Do they add to the heating bills? Are they confusing to you? We've got a listener question. Jordan in Lawrenceville says, we're interested in heating our home more efficiently, but wonder if the nest or smart thermostats really save the homeowner money. That's from Jordan in Lawrenceville, and I think the answer is yes.
Smart thermostats do save you money nearly every household. Today has a programmable thermostat. Cheap versions, ranges from about 20 bucks. Even the smart thermostats, the programmable thermostats are increasing in popularity. I think I bought a Nest thermostat. I have a Nest thermostat on all three floors of my home, and I love the Nest thermostat cuz I can actually change the temperature from anywhere it knows when I come into the home.
So in many cases, I'll come in, I come in with my phone, the system knows that I'm in there. And so it will actually turn the temperature up, turn the temperature down based on my sort of pre-prescribed settings. In addition to programmable capabilities, wifi enabled smart thermostats will learn from your lifestyle over time and recommend temperature settings for you.
The Google Nest recognizes your location by connecting to your smartphone like it does mine to determine when you're home and then adjust to your Dr. Desired temperature. As I just mentioned, you can also control that thermostat from anywhere. The answer according to this article, which was in Chariot Energy in February of 2021, is that the two most popular thermostats, Google's Nest Learning thermostat and Echo B's.
Thermostat can cost anywhere from a couple hundred dollars up to $300, but if used properly, a smart thermostat can provide significant savings. I don't know if it's provided significant savings for me. I do know, however, that I love if I'm on the road being able to turn things off or own. I have a security system that I can get to from an app on my phone as well that has exterior cameras and stuff that I control, and I really like being able to have that flexibility and that freedom when I am.
If you're looking to sell your home anytime in the next three to six months, we think you should talk to us before you use anyone else to sell your home. And you should say, Hey, I'd like to talk to you about your seller confidence plan. I've heard that there's four or five different ways to sell a home.
You can improve it and then sell it. You can buy your new home before you sell this one. You could sell your existing home and a cash offer in closing 21 days. Or you could just do a good old, regular everyday market sell. Which one is right for. Our seller confidence plan will clarify that for you. 7 7 0 4 9 7 0 0 0 0 is the number to call.
Got an article. It says what buyers want in. A home. The top must haves from 2023. This is from a big, major real estate publication published on November the 30th of 2022. There's only one opinion that matters about what's required in a home, and that's the buyers number one. Buyers are looking for affordability.
Duh. Buyers are always looking for affordability, although I will tell you over the last year or two that was less the case. They're looking for storage. Kitchen cabinetry is one of the first things buyers notice, as well as a walk-in pantry, an additional garage storage. They're looking for neutral colors.
Gray isn't the only neutral color making waves. Kitchens with light color pallets, including whites, grays, and grazes. A gray beige, along with light colored wood remain a top choice. They're also looking for covered back patio porch or deck areas. I agree with that. Outdoor entertainment amenities makes sense to me.
Energy efficient features and game changing kitchen updates. They're also looking for open floor plans and an entertainment or a game room. What are buyers looking for? That's our list. If you have a home to sell and you have any of those features, now might be the best. For you to sell. We appreciate you listening to another week's edition of Go Gaddis Real Estate Rodeo.
We'll be back next Saturday at the same time. Have a great week, Atlanta. Talk to you then.