Friday, May 21, 2010

Dunwoody Real Estate Trends??


After yesterday's snide remark regarding Realtors, let me show them a little love today. I know several people selling houses and have witnessed my neighbors house go under contract in about 30 days, so that they can trade up into a bigger Dunwoody home. It seems that Dunwoody remains a hot market even in these slow times, but maybe I'm just guessing? The AJC says that we have lost some median price but I was told that is was caused by the high number of sales in the condo and town home market along with drastic price reductions to move those units but I couldn't confirm that statement. If there are any real estate professionals out there reading this, please feel free to comment on the over all Dunwoody market conditions and feel free to give yourself a plug.

The photo above is from Zillow and shows houses currently on the market and this link shows those who recently sold. When I was selling my first home in Dunwoody and researching for my current home, I used Zillow first and then moved over to Realtor.com for the usually better pictures.

There are many fine places to live in Dunwoody and my family is very happy in the Dunwoody North Subdivision which is in South East corner of town, close to I-285, North Peachtree Road, Tilly Mill & Peachtree Industrial. Amenities besides the great transportation links, we walk to Brook Run Park, Peachtree Charter Middle School & Chesnut Charter Elementary School; have an active Swim/Tennis and as the father of three boys who enjoy baseball & football, it is also relatively close to Murphey Candler Park.

My friends Mike & Diana who live on my old culdesac are selling their beautiful 4 BR home with a pool so if you know someone who is looking to buy, I highly recommend this house as well as the street because the neighbors can't be beat.  The short culdesac is also hopping with activity with numerous young families and they would enjoy seeing a little boy or two move on to the block to equal out the little girls.

1 comment:

Bob Fiscella said...

John,
As a realtor, which means I am a member of the National Association of Realtors and don't simply hold a real estate license, no apology necessary. As a matter of fact, when I ran for office two years ago, I was not endorsed by the Atlanta Board of Realtors. Why? I can only guess it is because I didn't have a big issue with water-saving measures that some governments put into place, and also because I didn't have a problem with the new city potentially imposing impact fees on developers who placed a burden on existing taxpayers.

As for my thoughts on the Dunwoody real estate market: home prices in Dunwoody, in general, have dropped between 15-and-25 percent since the first quarter of 2007, which is very much in line with the rest of the metropolitan area. The drop is directly tied to the economy. To be more specific, the drop is tied to the amount of distressed properties in the city. About 1/3 of all home sales in metro Atlanta are foreclosures. With short sales factored in, that number increases to almost 50 percent (a short sale means the property is being sold for less than the mortgage, thus the bank is coming up "short" on what it is owed). While Dunwoody has a much lower rate of distressed properties than many areas of the city, it all comes into play.

And yes John, I believe you are correct. The metro area as a whole overbuilt on condos and townhomes, and that has decreased values as well. Many folks would be surprised by the number of condos and townhomes that are within the boundaries of the city.

As for homes selling in 30 days or less - correct! But they must be priced right and must be in wonderful showing condition.

If anyone wants more information on the market or their own homes value, feel free to contact me at bobfiscella@kw.com or 404.644.5220.

www.dunwoodyusa.org