Looking Out From the Garage: September 2010

Lilburn, GA Market Report, August 2010

Lilburn National Night OutLilburn is in Gwinnett County, GA, just outside of Atlanta.  As of the 2000 Census, there were 11,307 people in Lilburn, but that is only including people in the city limits, and there has been a lot of growth since 2000 in Gwinnett County.  It was incorporated in 1910.  Lilburn is home to Parkview High School, and also has students that the Brookwood, Berkmar and Meadowcreek clusters. It is also home to Killian Hill Christian School, Providence Chrisian Academy, St. John Neumann Catholic School and Parkview Christian School.  Possibly the most famous resident of Lilburn is General Beauregard Lee, a groundhog with a better winter prediction record that Puxatawnee Phil up in PA. Dominique Wilkins, formerly of the Atlanta Hawks also lives in Lilburn.

Market stats for Lilburn, August, 2010, indicates that there are 481 properties on the market (as of August 31st). Overall, there is about a 9.6 month supply of properties.  Lilburn is actually one of the better performing cities in Gwinnett County.  Absorption Rates have been improving since March.  In fact, in March the re was 15.3 months of inventory.

In the sub-$200k arena, there are 292 listings, with about an 7.8 month supply.  This represents most of the sales in the market area, and reflects the same improvement in inventory levels since March.  And, one other thing to keep in mind is that sales were VERY strong compared to August 2009 (38 v 25).

Between $200k and $400k, there are 162 listings for sale, and about 14.3 months of supply. This segment has also been getting stronger each month since March.  However, there were only 9 sales in August 2010, compared to 13 last year.

From $400k to $600k, there are 22 homes on the market. The absorption rate is around 22 months.  There were exactly the same number of sales in August 2009 (3) as this year, but there were no sales in this segment in May, June or July.  Last summer was much stronger.  With just a few sales, just a sale or two can make a huge difference.

Above $600k, there are 5 listings, but too few sales to have any sort of reliable number of months of inventory.  There has been one sale in the last three months, but prior, there had only been a few other sales in 2010 (January and March).  Two of the listings are above $800k, and there is no market activity in the last 12 months for that range…

I have a page dedicated to Lilburn Market Data.

 

from LaneBailey.com

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2 commentsLane Bailey - REALTOR & Car Guy • September 28 2010 11:55PM

So, Are You In? #rebcAtlanta

It is coming FAST.  On Friday, October 1st, Atlanta will host its first ever real estate barcamp.  It has been a long time coming, too. 

The first rebarcamp was in San Francisco in July, 2008.  It was the day before Inman, and I think I got more information that I could use that day than the next two combined.  Since then I have been to a couple more rebc events, like Charlotte and Raleigh.  Each time, I have come away just amazed at the level of information that I took in.  The networking has also been extraordinary.  Great friendships have been forged... 

A few months ago, a small group started looking at putting on an event here...  And now it is time. 

rebarcampAtlanta website

There are still spots left...  and it's FREE...  and there is free LUNCH... and for the first 250 people, there will be a free T-SHIRT.  The latest in technology... Lunch, and Bling... FREE.  Having really cool sponsors ROCKS.

The event is being held at Spring4th Center at 728 Spring Street NW in Midtown Atlanta.  It is easily accessible from just about any place in the metro Atlanta area. 

Randy Barnes put together a super video showing you EXACTLY how to get there... even where to park.  So, go sign up now.  We'll see you on Friday.

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3 commentsLane Bailey - REALTOR & Car Guy • September 26 2010 12:06AM

Big League Dreams in Lilburn?

Fenway Park on June 21, 2008
Image via Wikipedia

The City of Lilburn is mulling over a plan to bring a ‘Big League Dreams‘ sports complex to the city.  It would be located near US29 and Indian Trail-Lilburn Rd.

The plan is not without controversy, and the company is not without its detractors.  And it isn’t cheap…  the cost is expected to be $20M+ and the company has a history of going well over their initial estimates by the time construction completes.  And that won’t likely be for 2+ years…

The Gwinnett Daily Post had an article the other day about it, and mentioned that there will be an agenda item about it on the September 13th City Council meeting.

What do you think?  Is this a cool plan for Lilburn to revitalize itself?  Or is it a boondoggle?

from LilburnDwellings.com

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7 commentsLane Bailey - REALTOR & Car Guy • September 09 2010 10:24PM

Do you REBC? #rebcATL

rebarcamp AtlantaAs mentioned previously, rebarcampATL is ON.  Atlanta will be hosting its first ever real estate bar camp.  The event is coming up on October 1st... at a venue to be named soon.  We have actually had to change venues in order to facilitate the demand.  As soon as details are finalized, they will be announced... 

Have you been to a rebarcamp event?

What did you think?  What was the best thing about it?  What would have made it better? What are you hoping to learn at the next rebarcamp event you attend?

Those are just a few of the questions that the organizing committee has to YOU.  rebarcamps are 'attendee focused'.  The participants determine the subjects and schedules.  They create the content.  They drive the discussion.  We on the organizing committee want to help facilitate the best possible event... so we want YOUR feedback. 

Are you coming?

#rebcATL will be in October 1st, 2010, starting at 9:00am and running until around 5:00pm.  We are even working on a lunch sponsor to be able to provide free lunch for everyone (it could be you!). 

Whether you are interested in attending, sponsoring or both, drop into the website, RSVP and we'll see you there!

rebcATL website

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8 commentsLane Bailey - REALTOR & Car Guy • September 02 2010 03:09PM

And Another Thing...

I just wrote a post a few minutes ago about 'The Bandwagon' and all of the folks climbing on-board to trash a book based on its title. 

But there is something else that has been bugging me... 

There is a disregard for DiYers that I see all too often.  It comes from agents, inspectors and others.  There is an assuption that if the home owner does ANY repair to their home, it will be sub-standard, not up to code, poorly executed and solely for the purpose of killing kittens and puppies. 

I am a car hobbyist.  I do a LOT of my own work, and I have spent a good deal of that time correcting the work of professionals.  And of course there is the time I have spent arguing with technicians and service advosirs about exactly what needed to be repaired. 

It isn't that I am perfect... it is that they aren't either.  And there is something else...  There are a LOT of bad professionals.  There certainly are some great ones, but plenty that just don't give a turd for the quality of their work... do it fast, cheap, get paid and get out

But the home owner often has another motivation... not doing it again.  There is usually pride in their ownership, too.  Of course, if they are selling the home, then maybe that doesn't play as large of a role.  But I have seen a lot of home owners going to great lengths to make sure that the home they delivered exceeded the expectations of the buyers.  Just as I have seen sellers of collector cars search out that last little part for the buyer... even though they didn't have to do it. 

Mom always said something else...  Don't Assume...

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8 commentsLane Bailey - REALTOR & Car Guy • September 01 2010 12:47AM

Mom Always Said... Don't Judge a Book by Its Cover...

Recently, there was a post about a book here on Active Rain.  The book was about tips and tricks that pros use while remodeling and repairing homes.  Honestly, I'm not crazy about the title... 

But, reading through the comments, one might draw the conclusion that the book was purely evil. 

How to Cheat at Home Repair

Like I said, not crazy about the title...  But, the title doesn't tell the whole story.  Here is a short except from the book:

Here’s another situation where a panic response will lead to misery and unnecessary expense: the times when you need to call in a professional to perform repairs around the house. At a minimum, you want to have on hand the names and contact information for a handyperson, a plumber, and an electrician—professionals whose backgrounds you’ve already checked. If you just flip open the telephone book and pick the first name that sounds  professional—or the first company with an impressive display ad—you’re in deep trouble. Your odds of getting good work at a reasonable price that way are very low. When you do your research and find repair professionals that you’re comfortable with, it’s wise to treat them like family, pay them fairly, and pay them promptly. For more on hiring professional help, see chapter 13.

The section is called Build a Support Staff. That sure isn't bringing the evil.  OK, there is a mention of 'nose oil' and duct tape.  Of course duct tape is designed for ducts... not ducks, so there is actually a place for it in lasting home repairs.  And nose oil is something that I employed on more than one occasion to rescue damaged negatives as both a photographer and photo store manager.  Still not evil. 

When you have to drive a lot of screws into wood, the friction from the screwdriver can leave your hand raw or even blistered.  Making screws easier to drive is simple.  Keep an old candle in your toolbox just for this purpose.  When you have to drive a screw, rub the candle against its threads first, lubricating the metal.  This makes the screw easier to turn and saves the hands a lot of pain.  If you don't have a candle handy, soap will work well, too (but with greater potential to get messy).  Or spritz the pilot hole for your screw with spray lubricant.

I have not read the whole book, and I am sure that there are things in the book that I will disagree with.  I read the portion of the book available through Books.Google.com.  I don't have the book, and I doubt I would run out to get it... but there are some good tips in it for those that might not be really experienced in home repair. 

But that isn't the point... 

The point is that it is easy to villainize the book because of its title... especially for those of us in the real estate business.  It doesn't take an inspector to recognize some of the pure crap that most of us have witnessed... poorly done repairs, cover-ups and camouflage.  But before sentencing the writer to the 7th level of Hell, it might be a good idea to actually do a little research. 

I guess the part that bothered me was 'The Bandwagon' and the fact that EVERYBODY was on it, and nobody seemed willing to find out what they were talking about...

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3 commentsLane Bailey - REALTOR & Car Guy • September 01 2010 12:15AM