Athens, GA Real Estate News

By Brittany Purcell | Associate Broker
(Keller Williams Realty Lanier Partners)
Athens Christmas Art & Craft Show 2010: Friday, Nov 19 10:00a to 8:00p at Classic Center, Athens, GA Price: Admission: Adults $6.00, 16 and under FREE Phone: (904) 794-0084 Age Suitability: All Ages The Athens Christmas Art & Craft Show, November 19-21, 2010, will be held at The Classic Center in the heart of downtown Athens. Over 150 juried artists and craftsmen from around the country will be exhibiting their handcrafted work covering a vast range of media and styles. Mark your calendars, make your list and check it twice. This is a show you won't want to miss. For further information please visit www.holidayshowsinc.com or call (904)794-0084.
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By Matt Thomas
(Atlas Real Estate Advisors)
There are currently 81 bank-owned properties listed in MLS that are located Clarke County, GA. Below is a direct link to all 81 (copy and paste into your browser if not a live link): http://www.navica2.net/displays/?n=281&i=395450&k=l3hpAED Please let me know if you see anything on this list that you're interested in finding out more about, or if you'd like me to email you a similar list for a surrounding county. Each week, I'll post an update to this list showing the latest bank-owned and foreclosure listings for Athens, GA. Check back frequently to find out first about the best deals.  
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The following charts show the month to month residential real estate sales volume of the Greater Athens Ga metropolitan area for the months of July 2009 through July 2010. Sales volume of residential real estate has decrease in July for the second consecutive month. The July decrease of 37 units is a drop of over 22-1/2% from June and a decrease of over 41% than the same period last year. The largest drops in volume were in Athens-Clarke County, accounting for almost 75% and Oglethorpe County, with Jackson County and Watkinsville showing small decreases. Oconee County and Madison County both had increased sales volume. Chart 1 shows the trends for both the number of residential units sold and the average number of Days on Market (D.O.M.) for residential units sold. After peaking for the...
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On Aug. 19, Whatever It Takes Athens will have its Dine Out for Kids Event. Participating restaurants in and around Athens will donate a portion of their receipts to Whatever It Takes. WIT is a non-profit organization that is dedicated to fighting poverty by helping students, especially low income students, get a quality K-12 education. As the name states, the volunteers will do Whatever It Takes to make sure this happens. Please visit the website and watch the video about the organization, introduced by Michael Stipes (R.E.M.). And then eat one, or all of your meals, on Aug. 19, at one of more of the participating restaurants. There will also be various prizes such as gift cards to Krogers and other places that will be given to some of those who eat at on the the participating restaura...
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By Matt Thomas
(Atlas Real Estate Advisors)
The number of first-half residential sales in Athens, GA increased compared to the previous year for the first time since 2005-2006.  As you'll see from the chart below, the increases are minimal, but it ends a 3-year downward spiral.  433 residential homes were sold in Athens from 01/01/10 - 06/30/10, slightly more than the 397 units from the same period in 2009.  However, even with the gain, the total # of sales is still less than half of the total at the peak of the market in 2006/2007.
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June 2010 residential real estate sales volume in Athens - Clarke County, GA  slid 3% in June from May 2010 sales volume. However, this is still 2% higher volume than the the same period last year and 13% higher than the lows of last September.  While down, this is not a indicating a negative trend nor a major weakening of the Athens-Clarke County housing market. However, the July volumes, which will come out later this month, will be a better indicator of the market.   A positive indicator is that the D.O.M. (days on market) remained the same, 192 days, which is the low for the last year. Both the average and median sales price of homes were down slightly from May .This is probably driven by two factors: 1) the number of foreclosures and short sales on the market; 2) first time and re...
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The following charts show the month to month residential real estate sales volume of the Greater Athens Ga metropolitan area for the months of June 2009 through June 2010. Sales volume of residential real estate has decrease in June after managing increases for the previous 4 months from February through May, with May showing the second highest montly volume in the past 12 months. The largest drops in volume were in Athens-Clarke County and Oglethorped County, with Jackson County and Watkinsville showing small decreases. Oconee County and Madison County both had increased sales volume. Chart 1 shows the trends for both the number of residential units sold and the average number of Days on Market (D.O.M.) for those units. May shows another increase in the sales volume, after increases in...
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By Brittany Purcell | Associate Broker
(Keller Williams Realty Lanier Partners)
Athens Area Maternity and Baby Fair August 7, 2010 Athens Classic Center : The Athens Area Maternity and Baby Fair is a free, fun, family event for everyone with a baby/young child in their life now or in the future - parents, expecting parents, grandparents, children, and friends!  The event provides an opportunity for interested individuals and families to learn about maternal/child community resources. The event features educational sessions, retailers selling products, health institutions, social service agencies and other community organizations exhibiting, children's activities, and Silent Auction. The event will be from 10:00 AM to 3:00 PM August 7th, 2010 at the Classic Center in Downtown Athens, GA   Come see us at the Athens Area Maternity and Baby Fair and visit www.maternity...
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By Matt Thomas
(Atlas Real Estate Advisors)
To some people, statistics are just confusing. To others, it's a way of life. While I fall somewhere in-between, it is mportant for me to keep track of who's buying and who's selling so I know where to focus my time and resources. It's also interesting information, even for the casual reader with an interest in the local real estate market. Below are the recent homebuyer trends, as reported by Realtor.com. Average homebuyer searches 12 weeks and looks at 12 homes before making a decision. 47% of recent purchases were by 1st-time homebuyers, with 53% being from repeat buyers. 90% of homebuyers used internet to search for homes, often times even driving by selected properties, before contacting a professional to help. If you're currently shopping for homes online, please continue to visit...
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By Michelle DeRepentigny, Broker Athens, GA
(Success Realty)
Athens, GA Fireworks and area July 4th Celebrations 2010, Athens will be lit up with fireworks this year! Fireworks in Athens, GA for July 4th, 2010!  The STAR SPANGLED CLASSIC event in Athens, GA starts at 6:00pm on 7/4/2010 at Bishop Park and includes "concessions, family games, inflatables, patriotic arts and crafts for kids, and music".      Rise and shine early Saturday, July 3th 2010 to get a great spot for the Colbert, GA Fourth of July Parade.  The parade features antique cars, tractors, horses, and lots more!  Bring a bag for the candy thrown out to the kids!  Colbert, Georgia is located about 15 minutes east of Athens off Highway 72 in Colbert.  The parade starts at 9am, with a festival following which features arts & crafts, concessions, and gospel & country music. If music ...
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By David and Jane Johnson, The Johnson Team
(Atlanta Communities Real Estate)
ERA Sunrise Realty is proud to announce the launch of our website - www.AthensRealEstatePros.com. The new website contains virtually all properties listed in the Athens GA Multiple Listing Service (MLS). The information is complete with photos, virtual tours, full address information and other important property details. The listings are downloaded and updated daily from the Athens MLS system. This website contains virtually every home for sale as well as every condo and lot for sale in areas served by our Athens Office. There is no need to search multiple Athens real estate websites looking for your next home! ERA Sunrise Realty’s Athens real estate team is ready to serve our Athens Georgia real estate clients. Our highly-trained real estate consultants work diligently on our client's ...
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The following charts show the month to month residential real estate sales volume of the Greater Athens Ga metropolitan area for the months of June 2009 through May 2010. Sales volume of residential real estate has now shown an increase for the last 4 months from February throuug May, with May showing the second highest montly volume in the past 12 months. Chart 1 shows the trends for both the number of residential units sold and the average number of Days on Market (D.O.M.) for those units. May shows another increase in the sales volume, after increases in February March and April. This is probably due to buyers coming back into the market to take advantage of the extended First Time Home Buyers Tax Credit extension as well as the Repeat Home Buyers Tax Credit. Chart 1 The total number...
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AmericanStyle magazine has named Athens, Ga as one of the top 25 mid-sized city art destinations for the 9th straight year in a row. Rating cities on their visual and performance arts, Athens was rated #18 in the mid-sized city category this year. While most people might know about Athens because of its contributions to the music scene with bands like R.E.M., Widespread Panic and The B-52's, there is also a strong visual arts environment here. One the widest spread and easily recognized art displays is the Athens-Oconee Junior Woman's Club project "We Let the Dogs Out!". It is 36 bull dogs distributed all over Athens, each one whimsically painted by a different artist. You can find them scattered about downtown, in front of banks, fire stations, parks, etc. As you wander around town you...
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The unemployment rate in Athens - Clarke County Ga has dropped for the second straight month in April. It is now at 7.4%, down from 7.9% in March and 8.4% in February. This is well below the national unemployment average of 9.7% and the Georgia unemployment rate of 10.4%, down from a March rate of 10.5%. While this is excellent news for the Athens area, it remains to be seen whether this is an organic job growth in the private sector or temporary decreases due to hiring of temporary census workers. The Athens area, for BlS employment statistics includes: Athens-Clarke County Ga, Oconee County Ga and Madison County Ga. For information on buying or selling a home or property in the Athens Ga area, please call me at 706-207-5290. Or, you can click here to email me with your request for inf...
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By Michelle DeRepentigny, Broker Athens, GA
(Success Realty)
Short Selling in Athens, GA is frankly challenging!  Although blessed by a relatively stable economy, we are still in a stagnant home resell market.  REO (real estate owned by banks after foreclosure) inventory is increasing monthly, and starting to significantly affect resale and new construction appraisals.  Negotiating short sales has recently become even more fraught with potholes, as wait times increase and documentation of hardships becomes more stringent. We are getting a lot of questions about "short sales". Over the next few weeks, I am going to attempt to answer some of the real estate short sale questions I am getting asked frequently starting with the most common below:  Do I have to get an approval from my lender to offer my house as a short sale?The short answer is no.  B...
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By Paul & Diane Boykin
(Keller Williams Realty Greater Athens)
Of course we love The University of Georgia, her students and all that entails with football games, rush, parties and other activities.  That is what makes Athens, GA run!  But us natives also enjoy and look forward to summer break and holidays when the some 33,000 students evacuate the town and leave it to us.  It's a little like a beach town when the vacationers have all gone home for the winter.  We don't even notice the 13,000 or so students in town for summer school.   What we have is a laid back place, little traffic and the ability to eat in any restaurant whenever we get good and ready without reservations or long waits.  We realize that it would be boring if it were this way all of the time and we look forward to their return in July and the feeling of excitement that they brin...
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March 2010 residential real estate sales volume in Athens - Clarke County, GA showed flat sales for the third consecutive month. However, this is almost 10% higher volume than the lows of last September.  This appears to be a positive indicater that the Athens-Clarke County residential real estate market is stabilizing.  While the volume remained steady, the average Days on Market (D.O.M.) dropped by 3 days, another slightly positive indicator. Both the average and median sales price of homes remainded flat from February, with the average price down just over 8% from a year ago and the median price fairing better, down just under 4% during the same period. .This is probably driven by two factors: 1) the number of foreclosures and short sales on the market; 2) first time and repeat home...
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By Shannon Martin
(Cindy Karp Realty, Inc.)
  I found this information in an online article and although many of us know these steps front to back I thought it might be great information for the home seller facing the possibility of foreclosure: Many of us have either gone through the process of foreclosure, a process that allows a lender to recover the amount owed on a defaulted loan by selling or taking ownership of the property firsthand or know someone who has. Realty Trac released its U.S. Foreclosure Market Report on April 15, 2010 for the first quarter of 2010. The report, which calculates foreclosure filings, including default notices, scheduled auctions and bank repossessions, showed that 932,234 properties were involved in the first quarter, a 7% increase from the last quarter of 2009, and a 16% increase over the first ...
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By Shannon Martin
(Cindy Karp Realty, Inc.)
I came across this fabulous article this weekend in Money Magazine (May 2010.)  In their REAL LIFE section Lisa Gibbs illustrates the real estate bust and how it has left many Americans struggling to ride out the tidal wave of upside down mortgages.  The title of the piece "Drowning in Home Debt" is a fabulous article and I hope you get a chance to read it.  From that particular article a section caught my eye and I'd like to share it with you all:   WHAT AID IS AVAILABLE (A spate of ferderal programs can help homeowners get out from under.  Find out more at makinghomeaffordable.gov) FHA REFINANCE - What it will do:  Refinance mortgages into FHA loans while cutting principal to 97.75% of the home's value, starting this fall.  Who qualifies:  Borrowers current on payments whose loans are...
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By Shannon Martin
(Cindy Karp Realty, Inc.)
I just received the following information directly from Fannie Mae via email:   3.5% Closing Cost Assistance and Appliance Incentive Extended Through June 30, 2010 Fannie Mae is extending the 3.5% incentive for homebuyers who purchase and close on a Fannie Mae-owned home by June 30, 2010. Buyers purchasing properties listed on HomePath.com will continue to be offered an incentive of up to 3.5% of the final sales price to be used towards one of the following: Closing costs The purchase of new Whirlpool® appliances A mix of closing costs and appliances, at the buyer's discretion, up to the maximum 3.5%. Eligibility To be eligible for this incentive: Property sale must close on or before June 30, 2010 Buyer must be an owner-occupant (second homes are eligible as long as they are owner-occu...
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