-This is a transcript from Go Gaddis Radio to listen to the episode click here-> https://on.soundcloud.com/N29ip
Welcome back to another week's edition of Go Gaddis Real Estate Radio, right here on AM nine 20. The answer in this first segment of the show. We've got our Metro Atlanta Residential real estate update for the last seven days and are something you should know about Atlanta segment. We're gonna talk about Gibbs Gardens in Ball Ground, Georgia.
Again, we talked about 'em a few weeks ago, and I have been on a visit up there. In the meanwhile, also, Atlanta home buyers are making smaller down payments. If you want some more information on that, you definitely wanna stick with this segment. My name is Cleve Gaddes. You're listening to Go Gaddis Real Estate Radio, where we help listeners go from real estate novices to experts.
So home selling and buying can be done with total. And without all the worry that is so typical with life's biggest investments and we want to connect with you, we really do, and it's easy. Go to go gadi radio.com, G O G A D D I S radio.com. You can ask questions that we answer on air or off air. You can make.
You can post comments, you can push back or challenge any of the ideas. You can share your ideas with us. You can request your neighborhood be featured in our neighborhood Spotlight, which is one of my favorite segments, and you can subscribe to our podcast. We're available on every major podcasting platform.
So we invite you to go see, go download and get started, uh, on your preferred platform. Let's jump into the Metro Atlanta residential real estate update for the last seven days. We typically look at the same information, and you might be wondering, why do we take seven day snapshots of the market? And it's because generally we only see patterns in the market.
Until it's too late to do anything about it. So in many cases, like for example, when we went into the recession in 2008, once we knew that we were in a recession, uh, the great recession, it was too late for home buyers and home sellers to really do anything about it. And had we been looking at the real estate market every seven days, then buyers would have.
Better prepared for what was going to happen and sellers would've been better prepared for what was going to happen. And so I, my commitment is to keep doing these seven day updates probably, you know, for the foreseeable future. Uh, because I think it really helps you as a buyer or a seller, have your pulse on what's going on in the real estate market.
And it allows you to make much better decisions than you may otherwise make. This week there were 1,806 new listings added to the first multiple listing service. 1,534 homes went under contract, which means 260 more homes listed than homes that went under contract For you buyers, that means there's more inventory out there this week than there was the prior week.
We had 1,708 closings. As we turned the new year, the number of closings every week was closer to a thousand. Now it's getting up around 1700. I expect it to peak in May, late May, maybe June, July, in probably the 2,500 per week range. Two years ago, the Metro Atlanta real estate market for the entire year was a.
15,000 closings last year. It was closer to, let's call it 98,000, uh, closings. So you can see that, you know, a hundred thousand would be about 2000 closings a week. And so we are on pace for that. One of the last numbers that we like to cover is the number of homes that had a price decreased for the week, and this past week it was 951, meaning there were 951 sellers who were admitting to the market in a very public way.
A very vulnerable. That I am more eager or more interested or more willing to negotiate on the sale of my home this week than I was last week. Why do I even mention that? Because you, as a home buyer should be looking in your geographic area for homes that have price decreases. I'm not even pretending.
That all the homes with price decreases, will fit your criteria, will fit your needs. In many cases they won't. But as a home buyer, if you are frustrated because you keep losing out on homes and you don't feel like you have had a seat at the table in the negotiations taking place on homes, look for ones with price decreases, and you might find your situation being very, very.
I wanna walk into, uh, our, something you should know about Metro Atlanta Segment, which is all about Gibbs Gardens in ball ground. I went a couple of weeks ago and saw the, um, let's see here, not the daffodils, over 2 million daffodils. They have, uh, I would say two weeks ago was about two weeks too late, meaning a lot of the daffodils had already bloomed, and so you had just small sections that were blooming.
But when you see 2 million daffodils all together in the same area, it is absolutely amazing. I have, believe it or not, a year pass, a year long pass to Gibb's garden in ball ground. And if you're listening and you are a nature lover and you're looking for a place to go this spring or this summer, to really see beautiful, beautiful ornamentals in such fancy gardens in the Japanese garden is incredible.
And so I'm gonna give you an opportunity to win. This annual pass. It's real simple. Go to our Facebook page, our business Facebook page, which is Modern Traditions Realty, or if you're looking, if you're going online, facebook.com/modern Traditions Realty like our Facebook page, and make a comment that says, Gibbs Gardens, if you do that, you'll be registered.
We'll do. For this week before we have our next show, we will have a winner of the Gibbs Gardens annual Pass. I don't remember the exact value. I wanna say it's a 50 to $60 value, so it'd be kind of cool if you are a nature lover like me, you might very well want to get registered. Let's see if there's any other information.
That I need to give you. Interesting. By the way, uh, Jim Gibson, there's fascinating stories about his love of nature, and I bought a book about all the things that he's done over the years at Gibbs Garden. Uh, he spent over 15 years covering the nation and the world viewing gardens of every single style.
And, uh, he basically brought all that knowledge and put it into place in Ball Ground, Georgia. And it is. Spectacular. If you've never been there, you need to do a little research and make arrangements to go to Gibbs Gardens in Ball Ground, Georgia. And if you want to pass so that you don't have to pay to get in, we've got an offer for you of an annual pass.
Anybody who goes to our business Facebook page, which is the name of my real estate brokerage, or my real estate team, it's. facebook.com/modern Traditions Realty or just go to facebook.com. Just go to Facebook and type in Modern Traditions Realty like our business page, and post the words Gibbs, gardens, or flowers, or anything close.
I wanna win. Just post something in there so we know what you're there for. Out of everybody that comes to the page, we'll draw one name out and we will award a free annual pass to Gibbs Gardens. Will mail it out to you immediately, or if you're in a hurry, go, we'll, we'll, we'll courier it to you, right?
Believe it or not, home buyers in metro Atlanta are making smaller down payments according to a survey that was done, and this is from the Atlanta Business Chronicle. It says, the medium down payment for a mortgaged home purchase in metro Atlanta was $21,500. During the month of January, this was 28%. 28% lower than the median down payment.
One year earlier, the typical Atlanta buyer put down 5% toward their purchase price, which is down from 10%. In January of 2022. Buyers in Atlanta put less down, less money down. The article says in smaller percentages compared to the national medians. In January, the typical home buyer across the US put 10% down or a little more than $42,000.
According to the report. In Atlanta, we're putting half of. Amount down Atlanta's medium Home price, it says was flat year over year in January, but the median price was up 23% compared to January, 2021 and 43% compared to January, 2022. The mean is the average take all of the sales in metro Atlanta divided by the total number.
The median is take all of the numbers and you math experts already know this, but take all of the sales, list them highest price to lowest price. Pick the one in the middle. So they say that the median. Price is a better representation of what's happening in the real estate market. Cash share of cash purchases in January 35%, which is down 11% year over year.
If you wanna sell your home anytime in the next six months, we believe we can get you $28,000 more than your neighbor. And all I say is, if you don't believe me, then challenge me. Go to go gaddis radio.com. Click on sale for $28,000 more. Put in just a little information. It'll take you less than 30 seconds and you'll be on your way and I will reach out to you personally.
I will really gather a lot of facts on your specific situation, and I will help you understand how we believe that we can help you sell your house for $28,000 more than your neighbor. I will tell you we've got a little bit of a special advantage in that our listings come with an r and r. You rest while we rehab or refresh your listing up to $15,000 that can be used to improve the condition of your property to really make it shine like a diamond so that the very first person who walks through your home wants to absolutely, positively by your home.
This segment of the show is brought to you by John Birch. And Capital City Home Loans. John makes it his mission to guide each home buyer step by step through the entire loan process so they are educated and confident in the mortgage options available. He really just wants you to be able to make the best decisions along the way, and that is such an important thing.
He can be reached by calling 6 7 8 2 2 6 7 8 8 7 6 7 8 2 2 6 7 8 8 7. If you are listening and you are a real estate agent and you feel. Stuck. You are not very enthusiastic or optimistic about the future because the real estate market is very, very tough. I invite you to go to go gaddi radio.com, click on contact us, put in a little information about you and your situation, and we'd love to talk to you about some of the things that we are doing, uh, that are making us more successful, uh, in this changing market.
We had a very, very good first quarter. Uh, almost a hundred homes, uh, put under contract and pined 98 or 99 to be exact in the first quarter. And that's a lot, and that's a lot more than we did this time last year. And so there's lots of opportunities and I really feel from my fellow real estate professionals.
Who are struggling because the market is changing and they don't know exactly how to handle it. So go to go gaddis radio.com, click on contact us. Just put in a little information. Hey, I'd like to talk to you about what's working in your business, even if we just have a conversation and you take our secrets and use 'em on your own and stay where you are is no problem.
We would, however, love it if you wanted to talk about joining our team as well. We're gonna take a quick break when we come back. Special h o a assessments. Lawsuit that result. Stick with us. We'll be back.