Sweet Bottom Plantation, Gen Z's Housing Impact, and Staying Focused in Home Buying
Welcome back to GoGaddis Real Estate Radio right here on AM 920. Purpose of this show is to help you as a home buyer or a home seller. Be able to think through all of the things that you need to know before you make any important decisions And we're so glad you've joined us in our neighborhood spotlight in this segment.
We're featuring Sweetbottom Plantation in Duluth also Gen Z I don't know if you know anybody who's a Gen Z. Gen Z is making moves in the housing market, and how do you stay focused during the home buying process, especially if you don't even know where you want to live? Don't forget, we want to connect with you, and it is easy.
You can go to gogaddisradio. com. You can connect with us on all social media there. But it's G O G A D D I S radio. com. You can ask questions. You can, you know, make comments or push back or ask for some additional information or share ideas with us or request us to do some specific research on your neighborhood.
So that you and your neighbors understand whether or not you have a particular, uh, advantage. And you can also subscribe to our podcast. Each week we pick one specific Metro Atlanta neighborhood to call out critical changes to help you know as a, um, homeowner in a neighborhood whether or not you might have a particular advantage.
And this week we are featuring Sweetbottom Plantation. For those of you who... Are familiar with the area, it is on Pleasant Hill Road, just... Uh, East of the Chattahoochee River, State Bridge Road on one side, Pleasant Hill on the other side. So it's between the river and Peachtree Industrial. Sweet Bottom Plantation is a gated swimming tennis community along the Chattahoochee River in Duluth.
It was one of the first developments in America. To apply a planning approach that would later evolve into what would become known as Traditional Neighborhood Development, or TND. One of the ten basic principles of the New Urbanism Movement. The design of many of the homes in the neighborhood was inspired by 18th and 19th century homes in Charleston, New Orleans, Savannah, and New England.
And many of these historical homes still exist and are in the National Register of Historic Places. Some of these famous inspirations include Mercer Mansion in Savannah owned by one time antique dealer Owned at one time by antique dealer Jim Williams whose lifestyle inspired Midnight in the Garden of Good and Evil.
That's a movie for sure Habersham House in Savannah also known as the Pink House and home to one of Savannah's finest restaurants the Haunted Mansion in Disneyland And the Moffett Lad House in Portsmouth, home to William Whipple, a signer of the Declaration of Independence, and his wife, Catherine Moffett.
An online tour of the inspired architecture of this unique neighborhood can be found at Sweet Bottom Plantation Tour. So it's SweetBottomPlantation. net. SweetBottomPlantation. net. Got good access to 285 and 85. It's 15 minutes to Duluth, downtown Suwannee, Peachtree Corners. Town Center and Old Town Norcross, 10 minutes to the Chattahoochee River National Recreation Areas at Medlock Bridge, Jones Bridge, Abbots Bridge, with walking trails and boat entry points in all of the National Recreation Areas, and under 10 minutes to the new Cawley Creek Park, which is a park in Johns Creek, built on the old water reclamation site called Cawley Creek.
Let's take a look at what's happened in the neighborhood over the last three years to see whether or not you as a seller have a particular advantage. I remember when this neighborhood was built one of the things that I thought was so cool about the neighborhood is. Uh, the retired Governor George Busby lived at the very end, the very back end, had a big estate and a mansion.
I'm talking about it like I've been there. I've never been there. I've just heard all about it through the years. And that's what made me think about Sweet Bottom Plantation. Not too many homes in the neighborhood. 150, 160 homes in the neighborhood. Average sales price, excuse me, average sales price in 2021, 987, 000.
818 11 homes sold. They took 117 days. Excuse me. Took 26 days on average to sell in 2020. Those 11 homes that sold in the neighborhood took 117 days. Amazing. That's all I've got to say. Sales prices went from 580, 000 up to 2. 5 million in 2022. Nine homes sold, took again 26 days on the market. Sales prices went up almost 200, 000 or actually a little over 200, 000 to 1, 193, 000.
Ranged from a low of 703, 000 to a high of 1, 655, 000. In 2023, year to date, there have been 5 homes sold, so maybe there will be 8 or 9, which went from 11. 2021 to nine in 2022 to let's just call it eight or nine in 2023. They've taken 57 days on average. The average sales price has increased another 150, 000 to 1.
352 million. Now there was a huge sale in there, 765, 000 up to 19 million. So if we pull that 19 million sale out of there, be interesting to see where the average sales price would be. There are currently two homes listed for sale in the neighborhood. There have been six homes sold in the last 12 months, which means there's a four month supply of inventory.
The low asking price is 2. 7 million. The high asking price is 3. 9 million. If you want to live in that home, the average entry price in that neighborhood. The average entry price is 3.337 million average value, average sales price of a home in 2009. During the recession, which is when properties were at their lowest value in sweet bottom was 472,000.
When we compare that to the 1.352 million of today, those 153 or 55 homeowners have increased equity to the tune of $135 million. Elementary school is Chattahoochee Elementary School, the middle school is Coleman, and the high school is Duluth. Duluth High School gets a School Chimp score of 80. If you are the type of parent that doesn't want to monkey around with your kid's education or the school's effect on home values, then you should get a School Chimp report.
Go to gogaddisradio. com, click on School Chimp. You'll go to the site, you'll put in a little bit of information, which school you want to compare. So if you wanted to do Duluth, for example. You would put the Duluth High School information in there, and then the system will ask you, Do you want to compare that to the average of all high schools in Metro Atlanta or another specific high school?
Let's say you want to compare it to Norcross High School, so you choose Duluth and Norcross, you'll get a side by side report. And it'll give you a ranking or a rating, like a GreatSchools. org report or a School Digger report, except I think they're a little bit better for those of you who are mothers.
Who are like serious about researching your schools like go to this site and test me out Go to gogaddisradio. com click on school chimp put in a little bit of information get your report You'll get a ranking or rating on the school. You will also get demographic information You might be interested in for that school And you will also Get, um, um, all of the specific information for that school district, the real estate information for that school district.
So, it's easy. Go get us at Radio. com, click on SchoolChimp and it is easy from there. If you're searching to buy a home, you're not finding the home that you are interested in, in typical channels, whether it's Zillow or Realtor. com or wherever, you might want to go to SureMLS. com, S U R E. MLS. com. Pulls listing from both listing services.
You just might find more listings there and it might be the key to you finding a home that works for you and your family. Gen Z, the next generation is making moves in the housing market between 19, these are people who were born between 1981 and 1996. I'm happy to report that I am not a Gen Z. But they say they're eager to put down their roots and achieve financial independence as a result.
They are turning to home ownership 30 percent of Gen Z buyers Transition straight from living under their parents roof to owning their own home. That's great That's a according to the home buyer and seller generational trends report from the National Association of Realtors a recent survey by rocket mortgage Identifies some of the top motivators driving Gen Z buyers to purchase a home.
Of those surveyed, 34 percent said that starting or growing their family was their main motivation to buy a home along with growing a family. Coming, comes in many cases establishing a home. Another key reason Gen Z wants to buy is because home ownership. can give them more stability. 20. 8 percent of the people said that the respondents said that because home buying allows you to stabilize what's typically your biggest monthly expense, your housing costs.
And then when you have a fixed rate mortgage on your home, you can lock in that cost for 15 to 30 years. So it is huge. According to a recent lending tree survey, Gen Z buyers are focused on more affordable areas to help boost their, boost their buying power and offset the challenge that comes with today's mortgage rates.
And many Gen Z buyers still want the convenience and excitement of city life, but also the affordability, open air and space more of suburban areas. I think what happens is we all think that one generation will be different than the prior generation and the truth is that, um, in many cases, uh, this generation does pretty much the same as what the prior generation did in terms of buying a home, wanting to be in the suburbs, good school districts, safe places for kids, things like that when we all get to that same point.
You're listening to Go Gaddis Real Estate Radio right here on AM 920 The Answer. I'm Cleve Gaddis and I'm so glad that you're here. I believe it's important to make the most of your time and to stay focused on what's important each step of the way in the home buying process. So you don't go bonkers.
And one of the most difficult situations I see... When people are relocating to Metro Atlanta, they don't know where they're going to live. And so we've got some tips for you, and this is from our SURE Home Buying System. It's called SURE Preparation. And when you're coming to Atlanta, the first thing you need to do is to narrow down the specific area in which you want to live.
You need to work with a real estate professional that'll do a getting to know the area tour where they'll show you three or four different homes in three or four different areas in similar price ranges in different areas of Atlanta. And I'll tell you once you do that, you will have a very, very clear picture of the area in which you want to live.
Then my suggestion is look at as many houses as you need to to find what you want. But don't ever leave a home without either taking it off of the list permanently or putting it on the list of consideration permanently. You don't want to leave and have questions because as many buyers will tell you, as you have looked at six homes today and five homes yesterday and seven homes a day before, which that's probably more homes than you need to look at, it can get overwhelming and you need to have a way of staying focused.
Our buyers agents use what's called the Sure Home Buying System at Modern Traditions Realty Group. If you want someone to use that system for you, 770 497 0000 is the number to call. If you want to sell your house for 28, 000 more than your neighbor, go to gogaddisradio. com and click on 28, 000 more. I appreciate you joining us for another week's edition of Go Gaddis Real Estate Radio right here on AM920 The Answer.
I'll see you next week. Atlanta, have a great week.
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