The past five years in Atlanta real estate have been nothing short of interesting. When we take a moment to look at back on some of the changes, we realize that there are many positive things for buyers and for sellers. More importantly perhaps, is that some things about the way houses are built, whether lifestyle or efficiencies are concerned have seen improvements as well.
The Cueny Team at Atlanta Fine Homes Sotheby’s International Realty welcomes 2013 and is looking forward to helping you with your next Atlanta area real estate transaction.
Here are the top changes in Atlanta real estate in the last five years from our perspective:
Energy Efficiency – We are seeing builders and home owners much more focused on spaces and products used in home that are
energy efficient. Vendors in HVAC, flooring, lighting, textiles, appliances, are all offering “Green Friendly” options.
Floor Plans – The floor plans and design today is much different than it was 5 years ago with open spaces on the main level for living and entertaining, kitchens with over-sized islands, keeping rooms for family enjoyment, work/study areas for kids, mud rooms, and larger laundry rooms. The lot size has decreased while the completed finished space has increased in efficiency with less homes having dead or non-usable spaces.
New Construction – Atlanta had minimal if any new construction for several years. New home builders such as Ashton Woods, John Weiland, Lennar Homes, KM Homes, DR Horton, Ryland and others have come aggressively back into the market in the last 18 months and are selling their communities out quickly. Buyers want and are purchasing new construction throughout Atlanta.
Pricing – In general, the Case Schiller Index and other reports show that Atlanta pricing has fallen approximately 30% or more since the height of the market in 2006. Yet today’s market (since approximately October 2012 to date) shows a shortage in inventory in most metropolitan areas of Atlanta and some neighborhoods and areas experiencing an increase in pricing because of the shortage and demand to live in a particular area of Atlanta or school district. The days on market to get your house sold is down and we are even seeing multiple offers and back up offers in the market again.
Contracts – Each year the Georgia Association of Realtors or GAR contracts used for most Purchase & Sale Transactions has changes. Over the last 5 years some of those changes have been significant such as the Buyer’s Due Diligence Period, earnest money requirements and financing options. As an agent, I have experience and knowledge about these changes to guide and protect you through the transaction.
Andrea Cueny
404.695.7040
770.442.7300
andreacueny@atlantafinehomes.com
Andrea’s Blog