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.

Read Full Post »

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.

Read Full Post »

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!

Read Full Post »

Why Home Prices are Rising from the Wall Street Journal

Nick Timiraos of The Wall Street Journal Developments blog recent post titled, Five Questions: Why Home Prices Are Rising, is a great read concerning real estate today. Success in real estate varies by each local market, but the three points below apply to the current market in Atlanta.

Prices in July were 1.2% above their year-ago levels. Photo credit: Associated Press

Home prices through July posted their largest year-to-date rise since 2005, according to the S&P/Case-Shiller index covering 20 major metropolitan areas.

Prices rose by 5.9% from the end of last year, according to the index, compared with a 0.4% gain for the same period last year and a 2.1% gain in 2010, when tax credits fueled a burst of home sales activity.

Are price gains limited to one segment of the market—say, foreclosed properties?

Not really. Data from real-estate firm CoreLogic show that the increases are being felt across all segments of the market. Overall median home prices in August were up by 12% from one year ago, as are median prices of existing homes that aren’t distressed sales.

Median prices of bank-owned foreclosures were up by 3%, while median prices were flat on short sales, where banks approve the sale of a house for less than the mortgage-debt that’s owed. Median prices of new homes, meanwhile, are up by 6%.

There are still a lot of foreclosures. How could prices be rising?

While foreclosures are still high by historic standards, the share of bank-owned foreclosures that are selling is down sharply over the past few years. Listings of foreclosed properties are down by 24% from one year ago and by more than 45% from two years ago.

While sales of foreclosed properties, which typically sell at a discount, have fallen by about 20% from one year ago, sales of traditional homes are up by 16% from one year ago, according to Ivy Zelman, chief executive at research firm Zelman & Associates. Prices, then, are rising not only because supplies of homes for sale are down, but demand is up.

Are banks strategically holding properties off of the market?

There’s little evidence that banks have seen an increase of marketable, or ready-for-sale, foreclosed properties sitting on their books. It’s true that there are still millions of properties that are in the foreclosure process or where borrowers have missed a couple of mortgage payments, and it’s unclear when or how aggressively banks will move those properties through the foreclosure process. In many cases, lenders and other mortgage companies that handle foreclosures have struggled to meet certain state requirements governing foreclosures. But the actual volumes of foreclosed properties that are sitting on banks books are down by around 24% from one year ago.

Read Full Post »

Video: Atlanta Fine Homes Sotheby’s International Realty – Dedicated to the Unique

Watch our latest company video celebrating the many amazing successes that Atlanta Fine Homes Sotheby’s International Realty has had in the first half of 2012.

Our 2012 year to date successes include:

- Over 200 top agents in three offices serving metro Atlanta: Buckhead, North Atlanta, and Intown.

- Representing 6 of the Top 10 Residential Sales in Atlanta

- 56% increase in sales growth from 2011 to 2012

- Highest average sales price in North Atlanta

- 96% increase in sales growth from 2011-2012 for the Intown market

- Highest average sales price in Intown Atlanta

- 73% increase in sales from 2011 to 2012 in Buckhead

- Sales up 19% Metrowide from 2011 for homes priced $500,000+

All information obtained from the First Multiple Listing Service and Trendgraphix Broker’s Edge.

Read Full Post »

‘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

Read Full Post »

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.

Read Full Post »

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.

Read Full Post »

Metro Atlanta’s home bidding wars return

Prices are low, but so is inventory — catching some buyers unaware.

Bidding wars are occurring with desirable homes that feature good public schools, nearby amenities and competitive prices. This home in Milton’s White Columns neighborhood is currently listed by Andrea Cueny for $559,000. Click on the image for more photos and information.

In an age of high foreclosures and rock-bottom home prices, bidding wars are breaking out for some metro Atlanta homes.

The hot competition is spurred by shrinking inventory and a run on homes with one or more desirable traits, such as good public schools, nearby amenities and competitive prices. Buyers also want homes in fully developed subdivisions and in locations that have maintained values, such as Buckhead, south Forsyth County and trendy intown neighborhoods.

Those seeking such homes have been caught unaware.

The competition for homes started in early winter as homes sales rose, and the bidding peaked in March, though multiple bids are still happening.

Source: Atlanta Journal Constitution

Read Full Post »

Sellers’ Asking Prices Jumped in May

Source: Wall Street Journal

Median asking prices hit their highest level in 2½ years in May, the latest sign that sellers are feeling brighter about their prospects amid slimmer pickings of homes listed for sale.

Median asking prices rose to $194,400, up 1.9% from April and 3.2% from one year ago, according to data released Wednesday by Realtor.com. Meanwhile, home listings increased by 2% from April, a slower-than-normal seasonal jump, and they stood 20% below their levels of year ago.

Reduced competition for sellers is making it easy for them to push the envelope on price. Compare May’s report with that of one year ago, when median asking prices in May 2011 fell by 1.6% from April 2011.

Meanwhile, the median amount of time that homes listed for sale had been on the market fell to 83 days, down by 9.8% from one year ago.

Here’s a closer look at the report:

Inventory: The number of homes for sale fell in all but two of the 146 markets tracked by Realtor.com on an annual basis, with inventory rising by 5% in Philadelphia and by 19% in Shreveport, La.

Nearly half of all markets saw a 20% year-over-year drop in the number of homes listed for sale, led by Oakland, Calif. (down 56.6%); Fresno, Calif. (48.8%); Bakersfield, Calif. (48.6%); Phoenix (44.7%) and Seattle (42.7%).

On a monthly basis, around three quarters of markets say inventories rise in May.

Prices: On an annual basis, asking prices fell in 24 markets, led by Reading, Pa. (down 5.4%); Allentown, Pa. (5.3%); and Milwaukee, Wis. (5.2%). The largest year-over-year jumps in median asking prices were reported in Phoenix (up 32.6%), Santa Barbara, Calif. (30.1%), and Chattanooga, Tenn. (up 24.1%). Median prices can overstate big swings because they may instead reflect a change in the mix of sales.

Median list prices fell on a monthly basis in just 17 markets, led by Daytona Beach, Fla., and Asheville, N.C. (down 1.4%), and were unchanged in another 35. They rose from April’s levels by 19% in Santa Barbara, Calif., and by 10% in Oakland.

The Realtor.com figures include sale listings from more than 900 multiple-listing services across the country. They don’t cover all homes for sale, including those that are “for sale by owner” and newly constructed homes that aren’t always listed by the services.

Click here to use the Wall Street Journal interactive graphs in order to compare figures for metro areas throughout the US.

In Metro Atlanta

FMLS recently released the May 2012 active inventory data for Metro Atlanta.

Active inventory level for Residential Single Family Detached continues to drop with 22,142 active listings as of the end of May 2012 vs. 33,860 active Residential Single Family Detached listings as of the end of May 2011. This represents drop in active inventory for Residential Single Family Detached of 35%.

Active inventory level for Residential Single Family Attached continues to drop with 3,883 active listings as of the end of May 2012 vs. 6,477 active Residential Single Family Attached listings as of the end of May 2011. This represents drop in active inventory for Residential Single Family Attached of 40%.

There were 11,466 new listings entered for all property types in May 2012 vs. 12,895 new listings entered for all property types in YTD May 2011. Total new listings entered for all property types in YTD 2012 was 58,081 vs. 65,216 new listings entered for all property types in YTD 2011.

Read Full Post »