Closing Out 2012 and Kicking Off 2013

We are very excited with the final numbers we are seeing for 2012! It was a GREAT year to work in the Atlanta real estate market. Check out these stats!

Atlanta Fine Homes ends the year on a high note!

Atlanta Fine Homes had an increase in homes sold (closed) during 2012 by 59%.  The total volume was up 42% and our market share grew by 40%.

In most areas across metro Atlanta,   total inventory is down by 30% over the prior year, and the number of homes sold is up as high as 8%.

Specifically in The North Atlanta office, the office The Cueny Team works out of, the closed volume is up a whopping 77% . Our office’s market share grew by 60% from January 2012 to December 2012. The Cueny Team grew our business by as  40% from 2011.

We are over the moon and are looking forward to continued growth in 2013!

Are you ready to start your home search?  Give us a call today to get started!

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Video: Metro Atlanta Homes Sold in 2012

The Cueny Team sold over 40 homes in 2012, totaling $20 million in sold real estate for the year. We love what we do and the opportunity to help buyers and sellers! Check out the highlight video below featuring each home sold by The Cueny Team in 2012.

Thank you to all of our clients working with and referring The Cueny Team this year. We look forward to continued success and a thriving real estate market in the new year.

The Cueny Team includes Nicole McAluney, Lea Johnston, and Eileen Hardison. We are known for our expertise, experience, professional service, and vested interest in our clients. We offer sellers million-dollar marketing for every property and the best exposure for each listing, while offering buyers the best resources along with an extensive combined market knowledge of metro Atlanta.

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Foreclosures fall in 62% of US cities

Source: CNNMoney

Foreclosures fell in nearly two-thirds of the nation’s largest metro areas during the third quarter, according to RealtyTrac Thursday. The recent data suggests the housing market is beginning to rebound. Photo: Robyn Beck/APP/Getty Images

Foreclosures fell in nearly two-thirds of the nation’s largest metro areas during the third quarter, according to RealtyTrac Thursday.

With 62% of the nation’s 212 largest markets seeing foreclosure activity shrink during the latest quarter, the ongoing decline is yet another sign that the housing market is starting to stabilize.

During September, foreclosure activity in 58% of the major metro markets had even dropped below September 2007 levels.

The numbers indicate that “most of the nation’s housing markets are past the worst of the foreclosure problem,” Daren Blomquist, RealtyTrac’s vice president said in the report.

Major cities like San Francisco, Detroit, Los Angeles, Phoenix and San Diego saw foreclosures fall by double-digit percentages of 26% or more.

Stockton, Calif., which saw a 21% decline in foreclosures, still managed to claim the nation’s highest foreclosure rate, however. “That foreclosures there are still the highest in the country speaks to how severe the problem was,” said Blomquist.

Other California cities in the top 10, all posted year-over-year declines of between 22% and 34%.

Yet, there are still some trouble spots, particularly in Florida.

Blomquist attributed Florida’s problems to the after effects of the robo-signing scandal. Florida is a “judicial state,” where foreclosures get processed through the courts. Lenders hesitated to bring foreclosure cases before a judge until they were confident their paperwork would stand up to the stepped-up scrutiny that followed the scandal. But now that new rules have been put in place through the $25 billion mortgage settlement, they are playing catch-up.

Of the metro areas with the 20 highest foreclosure rates, all are still in California, Arizona, Nevada and Florida, with two notable exceptions. Chicago saw a 34% jump from a year-ago, and had the ninth highest foreclosure rate. Atlanta had the 15th highest rate. The good news there: Foreclosures fell 20% year-over-year.

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The Cueny Team: Evolution of Extraordinary

The Cueny Team and Atlanta Fine Homes Sotheby’s International Realty are an unbeatable team! The video below gives you an inside look at the success of the Sotheby’s International Realty brand and The Cueny Team.

If the video does not appear automatically, click on this image to view the video on The Cueny Team YouTube channel.

The Cueny Team includes Nicole McAluney, Lea Johnston, and Eileen Hardison. We are known for our expertise, experience, professional service, and vested interest in our clients. We offer sellers million-dollar marketing for every property and the best exposure for each listing, while offering buyers the best resources along with an extensive combined market knowledge of metro Atlanta.

If you would like to receive the Cueny Team newsletter by email, subscribe by sending us a quick note!

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Atlanta On-Screen: Movies filmed in our Metro area

The Atlanta Regional Commission recently released their findings concerning the thriving creative industries in Metro Atlanta, People magazine reports on who can be seen in town and where, and new company Atlanta Movie Tours allows you to trace the footsteps of your favorite television and movie characters as you board a luxury coach. All of this had me thinking – just how many movies have filmed here?

Throughout my search, I found some answers surprising while others had me thinking “I knew it!”. Here are a handful of movies filmed in Metro Atlanta.

“Hall Pass” (2011): The Farrelly brothers comedy starred Jason Sudeikis (left) and Owen Wilson (right) as two married men who are given a week off from their wives (Jenna Fischer and Christina Applegate), thanks to the advice of a counselor neighbor. Though the movie is set in Rhode Island, it was filmed here in 2010, with scenes shot at Gold Room on Piedmont Avenue, Gwinnett Medical Center and Johnny’s Hideaway. I knew I recognized that dancefloor with the disco ball! Photo credit: AP

Currently in theaters “The Odd Life of Timothy Green,” starring Jennifer Garner and Joel Edgerton, was filmed largely in Decatur and Newnan. (AP Photo/Disney, Phil Bray)

Georgia won out against Tennessee as the location for the 2011 remake of 1984′s “Footloose,” despite writer/director Craig Brewer’s preference for the film be shot in Memphis, like his previous films. You’ll see the Starlight Drive-in, Cowboys in Kennesaw and Senoia Raceway in the movie. Photo credit: AP

“The Change Up” (2011): This Jason Bateman and Ryan Reynolds film shot around Atlanta, mostly around downtown and Midtown, including Piedmont Park. Phipps Plaza makes an appearance as well. (AP Photo/Universal Pictures, Richard Cartwright)

“The Watch” (2012): It might not have done well with critics — or moviegoers — but the Ben Stiller-Vince Vaughn flick is still fun if for no other reason than to pick out Cobb County spots, including Marietta Square. (AP Photo/Twentieth Century Fox Film Corporation, Melinda Sue Gordon)

“Life As We Know It” (2010): Katherine Heigl and Josh Duhamel starred in the romantic comedy about two single adults who become caregivers for a child after their mutual friend dies in a car accident. The movie was filmed in Atlanta in 2009. Photo Credit: PETER IOVINO, WARNER BROS.

“Zombieland” (2009), a comedy/horror flick starring Woody Harrelson and Jesse Eisenberg, filmed mostly in Decatur but also featured a currently listed Buckhead estate. Click on the image to view the listing on my website. Photo credit: GREG WILSON/COLUMBIA PICTURES

For more movies filmed throughout Atlanta and the state of Georgia, check out this slideshow from Access Atlanta.

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Creative Industries Thrive in Metro Atlanta

Source: Atlanta Regional Commission Regional Snapshot for July 2012

The latest Regional Snapshot examines creative industries in the 10-county Atlanta region, with the largest sectors including Film & Media, Literary & Publishing and Design. The industries have been on the rise ever since the tax credit was retooled in 2008.

Today film, television and digital entertainment tax credits of up to 30 percent create significant cost savings for companies producing feature films, television series, music videos and commercials, as well as interactive games and animation.

Georgia’s Entertainment Industry Investment Act provides a 20 percent tax credit for companies that spend $500,000 or more on production and post-production in Georgia, either in a single production or on multiple projects.

In an interview with Variety magazine, Broderick Johnson, producer of “The Blind Side,” said, “The magnitude of Georgia’s tax break is one of the best, if not the best in the country.” Johnson’s award-winning film was one of hundreds of projects shot in Georgia in recent years.

LOCATION, LOCATION, LOCATION

Because Fulton County has the largest employment base, by far, in the region, it naturally has the largest number of creative industry busi- nesses. Fulton has more than 4,000 businesses, roughly one-third of the total in the region, that are considered part of the creative industry cluster. Next is Gwinnett with 2,100 (18 percent of all creative industry businesses), DeKalb (2,050, 17 percent) and Cobb (1,900, 16 percent).

NOT ALL SECTORS ARE CREATED EQUAL

We isolated six primary sectors of the creative industry cluster – Design; Film & Media; Heritage & Museum; Literary & Publishing; Performing Arts; and Visual Arts & Crafts. Chart 2 shows that 27 percent of all creative industries fall into the Film & Media category; the sector employs 38 percent of creative industry employees.

While the Design Sector has 22 percent of all creative industry businesses, it only employs 16 percent of the workers, showing this sector to be less labor-intensive than other creative industry sectors.

Conversely, while the Literary & Publishing Sector has almost 16 percent of all creative industry businesses, it employs almost 24 percent of the workers, meaning this sector is more labor-intensive.

We also looked at the top three employer categories (based on NAICS code) for each creative industry sector. Table 2 shows that in the Design sector, the “Architectural Services” sub-industry employs the most workers – by a large margin – while the “Graphic Design” and “Interior Design” sub-industries rank second and third.

Within the Film & Media Sector, there are more than 6,600 workers in Advertising Agencies and more than 4,000 workers in both the “Software Publishers” sub-industry and the “Radio, Television, and Electronics Stores” sub-industry. The latter sub-industry is included in our definition of creative industries because such stores are the primary distribution centers of products made in these industries.

Many of these sectors have non-profits that make up the bulk of businesses and workers, including the Heritage & Museum sector and the Performing Arts sector.

The Atlanta Regional Commission (ARC) is the regional planning and intergovernmental coordination agency for the 10-county area including Cherokee, Clayton, Cobb, DeKalb, Douglas, Fayette, Fulton, Gwinnett, Henry and Rockdale counties, as well as the City of Atlanta. For 60 years, ARC and its predecessor agencies have helped to focus the region’s leadership, attention and resources on key issues of regional consequence.

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‘Normal’ Home Sales Soar

While sales of distressed properties – foreclosures and short sales – have shrunk since the first of the year, a surge in sales of “normal” non-distressed properties has pushed total home sales through June 4.5 percent higher than last year even though buyers face tight credit and low inventories.

With attention focused on extraordinarily tight inventories that have restricted sales during the past six months, marketshare of non-distressed homes are at their highest level since August 2008, a sign of strengthening demand from buyers realizing their time has come to act before prices increase further due to a slowly improving employment picture and greater consumer confidence.

Walk to everything from this sought after street in Virginia Highlands. 890 Drewry Street has been totally renovated with an addition to include a beautiful master suite with large walk-in closet and master bath. Click on the image for more photos and information from Atlanta Fine Homes Sotheby’s International Realty.

During the January to June period, the number of non-distressed sales is up 15 percent over the same period last year, according to CoreLogic.

The increase in non-distressed sales is strengthening prices. Excluding distressed sales, home prices nationwide increased on a year-over-year basis by 3.2 percent in June 2012 compared to June 2011. On a month-over-month basis excluding distressed sales, home prices increased 2.0 percent in June 2012 compared to May 2012, the fifth consecutive month-over-month increase., according to the National Association of REALTORS®.

Both supply and demand are playing a role in the decline of distressed sales and the increase in normal sales. In June, the distressed share of sales fell to 21 percent, the lowest level in almost four years. The months’ supply of distressed properties has been steadily decreasing over the first half of the year and now stands below seven months, equaling the same level of the supply of active listings.

Increased competition for the limited inventory of non-distressed property listings helped push the average home sales-to-listing price ratio to 95.6 percent in June, the highest in three years, according to the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.

HousingPulse reports that median time on market to sell a non-distressed listing fell sharply in June to 11.7 weeks, a drop of a full week from the May reading of 12.7 weeks. As recently as March, the non-distressed property time on market had been 14.0 weeks. The June 2012 time on market for non-distressed listings is the lowest in over two years and substantially below the June 2011 reading of 15.0 weeks.

Source: RISMedia

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Google+ Hangout: North Atlanta Market Report

I recently had another chance to virtually hangout with David Boehmig, Atlanta Fine Homes Sotheby’s International Realty President/Founder, and we discussed the market statistics for North Atlanta (FMLS areas 13 and 14) through June 2012.

If you can’t watch the video, here are the highlights:

Market Statistics for North Atlanta (FMLS Areas 13 and 14) through June 2012
Inventory of homes for sale – decreased 27%
Closed sales – increased 12% over previous year
Pending sales – increased 11%

In summary, the North Atlanta real estate market has seen robust activity and a stabilizing and improving market. Homes are selling and those that are priced right experience multiple offers. In my personal experience and The Cueny Team experience, this has been the best year to date in my 9 year real estate career!

Click here to see a current list of single family homes for sale in North Fulton/North Atlanta.

Click here to see all articles concerning the state of the Atlanta real estate market.

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Atlanta one of the Fastest Growing Cities in America

While the nation’s population grew last year by just 0.1%, many of the largest metropolitan cities are booming. Based on newly released data from the U.S. Census Bureau, 24/7 Wall St. identified the 10 largest cities with the fastest growing populations.

Looking at GDP growth, many of the local economies were booming before the new residents showed up. Half were in the top third among large metropolitan areas, and three were in the top 15. Charlotte and Austin — both among the top 10 — had the second- and third-highest GDP growth in the U.S. between 2009 and 2010.

As more people moved into these markets, demand for housing increased. According to data provided by Fiserv, while home prices fell in nearly every major metropolitan region, it fell by the smallest margins among those on our list.

1. New Orleans, LA

2. Austin, TX

3. Plano, TX

4. Denver, CO

5. Raleigh, NC

6. Tampa, FL

Atlanta one of the fastest growing cities in America, reported by 24/7 Wall St.

7. Atlanta, GA
> Population 4/10: 1.9%
> Population 7/11: 432,427
> Population 4/10: 420,005
> Average annual city unemployment (2011): 12.1%
> Increase in jobs (2010 to 2011): 28,900 (1.27%)

Though average annual unemployment was extremely high in Atlanta in 2011 at 12.1%, it was actually a significant improvement over 2010 unemployment rate of 12.7%. Additionally, Atlanta’s MSA has experienced significant job growth, adding 28,900 positions between 2010 and 2011. Some 15,400 of these net positions created were in the professional and business services fields. Companies, in these and other fields, that have announced plans to add jobs in the Atlanta area include AT&T, CBS and financial technology firm Q2ebanking. The city has also attracted skilled laborers from abroad, with 5,108 individuals receiving H1B visas to work in Atlanta in 2011.

8. Washington, DC

9. Charlotte, NC

10. El Paso, TX

Source: 24/7 Wall St.

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No to Low Maintenance Subdivisions in North Atlanta

Social media is constantly evolving, some times for the better and other times not so much… I am excited about a new development within Google+ called Google Hangouts. Google Hangouts provide a face-to-face video conference that you can record and publish to YouTube. I recorded my first hangout this week with David Boehmig, our company President and Founder. Watch the video below as we discuss statistics for homes sold in no to low maintenance subdivisions this year!

In the event you are at work and cannot watch the video , here are the highlights:

No to low maintenance subdivisions are for people who want to reclaim their weekends. These subdivisions provide services such as lawn care and exterior maintenance within the HOA fees.

Homes sold in low maintenance subdivisions in FMLS areas 13 and 14 during the first half of this year had these impressive statistics:
Average Days on Market: 29.8 days
Sale Price to List Price Ratio: 97.4%
Lastly, of those that sold in 2012, only one of them had a price change!

If you would like to search for homes in a no to low maintenance subdivision, click here to do so on my website. Subdivisions include Palisades, Crabapple Crossroads, Cottages at Creekstone, Cottages at Crabapple, Woodvale, and Wolf Willow Close within Crooked Creek.

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