-This is a transcript from Go Gaddis Radio to listen to the episode click here-> https://on.soundcloud.com/nQcHP
Welcome back to the fourth and final segment of Go Gaddis Real Estate Radio right here on AM nine 20, the Answer. My name is Cleve Gaddis and I really appreciate you sticking with us during the. In this segment in our neighborhood spotlight, we're featuring Locke Highland in Roswell. I have to say I just love that neighborhood.
There's not many big contemporary where most of the homes in the neighborhood are contemporary style. Martin's farm would be Martin's Landing, excuse me, with the one of them. Horseshoe Bend has a lot in there as well, and uh, there's not that many and it's just a big, beautiful home. I've owned a home in that neighborhood myself in the past and just love it.
Does a swimming pool add value? To your home and representing yourself in a real estate transaction. Is that a good idea? Don't forget, we want to connect with you and it's easy. Go Togo Gaddis Radio, G G A V E I sra.com. You can ask questions, you can make comments, you can push back, you can share your ideas.
You can request your neighborhoods. Spotlight, uh, your neighborhood. Be featured in our neighborhood spotlight, and you can subscribe to our podcast. In addition to being the host of this show every week on the radio for eight years, I'm also a full-time real estate broker. The team full of agents called Modern Traditions Realty Group, helping buyers sellers invest.
Driven landlords make the best decision with buying seller and investing anywhere in metro Atlanta. We had Marcus on one of our fine buyers agents earlier in the show, and we would love to work with you. 7 7 0 4 9 7 0 0 0 0 is the number to call each week. We pick one specific Metro Atlanta neighborhood to call out critical changes to help you know as a homeowner in the neighborhood what advantage you might have.
If you want to find Locke Highland, which is the neighborhood we're featuring this week, you'll take Highway 92 to Sandy Plains Road and turn right, you'll turn left on Wesley Chapel in the neighborhood is on the left, so it is south of 92 in Cobb. In 2020, there were 22 homes that sold. There's about 350 homes in the neighborhood, which means we would expect 22, 23, 24, 25 homes to sell.
And we've been kind of in that range for the last few years. 22 homes sold and an average of 67 days, meaning it took 67 days from the date the property was listed until, until it went under contact. And the average sales price was $420,000. They ranged from below of 247,000 to a high of 564 and home sold for 98% of their original list price, which means sellers had to reduce the price 2% in order to come to terms with a buyer in 2021.
There were 23 homes that sold one more than in 2020. It took 10 days, went from 67 days marketing time in 2020 to 10 days. In 2021, average sales price increased 70,000. Year over year, 70,000, almost a 20% increase, year over year to 490,287. They range from a low of three 15 to a high of 681,000, and in 20 22, 20 21, you can tell the market is changing.
The average home sold for 3% more than it was listed for in 2022. There were 22 homes that sold. It took 19 days on average, nine days more than it took in 2021, the average sales price increased another 90,009 $90,000 increased. 70,000 in 2021, increased 90,000 in 2020. It's $160,000 increase in two years.
That's really amazing when you think about it. Average sales price, 578,000 Sales prices range from a low of 445,000 up to a high of 777,000. There's currently two homes available for sale in the neighborhood, which means there is 1.09 months worth of supply, which. If no new homes come on the market in the subdivision, and that's probably not the case, you'll probably have more homes come on the market.
But if no homes come on the market in the next month, it will take one month to sell everyone to sell each of the two homes listed in the neighborhood. Again, I said about 350 homes in the neighborhood in 2012. The average sales price in that neighborhood was 240 2005 57. Compare that to the 578,000 2 0 5 list, uh, uh, average sales price today and homeowner equity in the neighborhood in the subdivision alone.
Those 350 homeowners have increased their equity in their homes, 118 million. Garrison Mills, the elementary school. Mabry is the middle school, and Lasseter is the high school. Lasseter gets a School CHIMP score of 96, which is a very high school chimp score. If you are the type of parent who doesn't want a monkey round with your kids' education or the school's effect on home values, you need a School Chimp report.
How do you get one? It's easy. Only place you can get it. Go to. Go get us radio.com. Click on school chimp. Put in a little information. Let the system know if you want to compare one high. To the average of all Metro Atlanta high schools, or one high school to another high school, and the system will email the report straight to you.
Not only will it give you a ranking or a rating for the school that we believe is one of the best representations of the quality of the educational experience your child would have, it also gives you demographic information. Percentage of homeowner owned homes, renter home, renter owned home, um, renter occupied homes, uh, the educational attainment of parents, the average household income, the average age of a home in the area.
And then it gives you all of the real estate sales data as well. The average sales price for the last few years, number of days on the market, total market for sales. All of that good stuff is available for. when you get a School Chimp report. If you've just joined us, you are listening to Go Gaddis Real Estate Radio right here on AM nine 20.
The answer. I'm Cleve Gads, and I really appreciate you being with us for this show. Are you dreaming of the warm summer months yet? I am. Although it felt pretty good for the last couple of weeks. Does the thought of jumping in your own pool, your own backyard paradise? Sound refreshing. We got a listener.
From the Jones family in Duluth during the height of the pandemic, our family did not attend. The local pool. Even though we are beyond that now, we're still worried about letting our kids swim there and if considered putting pool in our backyard, will it add value to our home when we sell? And I'm gonna give you a very definitive answer of.
Maybe, and it is really weird. Before 2010, I would say, and, and for those of you real estate professionals who are listening, you have to let me know whether or not you agree. But before 2010, I would say that on average, a swimming pool decreased the value of a home. . I think I remember reading something that on average before 2010, that homes would sell for 67% less if they had a pool.
Don't ask me why that was. I know as I was considering buying a home when our children were young, I did not want the additional. Liability, the additional headache of having to make sure that nobody wind up falling in the pool. And so maybe that's it. Or maybe people didn't want maintenance. Now as we went through the Great Recession, and then again as we went through the pandemic, you know, people really got focused on creating the environments they want for living around their.
And I would say that on average today, adding a pool to a home actually adds value to the home. The swimming pool, construction industry grows every single year, and I did some research online and it. I see a couple of things. I see that the average value of a home with a pool house Logic says it increases the value 7%.
So if you spent $50,000 on a pool and you sold a $400,000 house, it would add $28,000 to your value. So it would. You would recoup a little over half HGTV reports that the average in-ground pool can increase property values five to 8%. So that 7% makes sense there. And then analysis by a prominent real estate broker in the US found that in warm weather markets, a pool can add between $11,591 up to $95,333, $393, sorry, in home value.
So I wish I could give. A more definitive answer, uh, the Jones family in Duluth than maybe, um, but it depends. I will tell you though, that it's not always right to make the decision based on whether or not you'll get your money back and it'll add value. The truth is if you like it and you enjoy it and it's worth the expense, maybe you should consider doing it.
anyway. Marco and Denise and Canton wrote in saying, is it a good idea for us to represent ourselves when selling our home? We want to keep as much money in our pockets by saving the commission. That makes sense to me. And if you're listening and you might be considering selling by owner, you might be confused as well.
You might think you can save a lot of money, but you also might feel. A little bit more exposed, and I am a real estate professional, so I will tell you, um, Marco and Denise, that I am not, um, an impartial person to answer this question. I believe that everybody who sells their home should have adequate representation in selling their home.
Some of the worst deals that I've ever seen. Or when you have an unrepresented seller and an unrepresented buyer and things get off track and nobody knows how to fix any problems. I've seen lawsuits, I've seen, um, you know, I'm gonna be honest with you, I've almost seen violence between seller and buyer because you don't have a middleman helping to kind of take the rough edges off everything.
So the reality is, you know, I think you should always avoid selling your house on your own. I think as a homeowner, you are too emotionally attached to the home when you sell it yourself. And as a buyer without representation, it's, I would say it's fairly common for buyers without representation to overpay for their home purchase.
Um, because, you know, whoever's making the decision with them and, and, and they are, um, emotionally charged. You need to have, in my opinion, an agent, uh, somebody you can know and trust. Now, I'm not saying every agent would be able to do a good job for you. If there are plenty of agents out there who are very professional, who would do a wonderful job for you, in fact, we would love for you to consider.
Talking to us before you list your home for sale by owner, that number is 7 7 0 4 9 7 0 0 0 0 or you can go to go gadi radio.com. Don't forget if you bought a home in 2022, now it's time to file for your homestead exemption. If you have not already done that, you've got until, I believe, March the 15th. If I'm giving the wrong data, I apologize.
I didn't actually go back and look it up. Many of you probably filed for your home debt exemption last year, cuz you don't have to wait until after the first of the year, but you have from January the first through March the 15th to get it filed so that home ex homestead exemption will take place this year.
What does that save you? I don't know. Eight, nine, 10% of your taxes. If you are looking to sell your home, 7 7 0 4 9 7 0 0 0 0. Don't list your home with anybody. Without calling us. I appreciate you listening to another week's edition of Go Gaddis Real Estate Radio and we will talk to you next Saturday.
Have a great week, Atlanta. Take care.