Emory
{ Wednesday, October 12th, 2011 }
Candler Park Real Estate Market Update
Candler Park may not be one of Atlanta’s largest neighborhoods, but it more than makes up for it in amenities. It’s always been an Atlanta neighborhood that passed the “smell test” for me- only a few minutes walking its streets and you know that you’re in a community that’s more than just a collection of homes.
The neighborhood features two parks (the 55 acre Candler Park as well as neighboring Freedom Park), a public golf course, swimming pool and tennis courts. Highly acclaimed Mary Lin Elementary is the neighborhood’s darling, and with close access to Downtown Atlanta, Emory and Decatur, Candler Park residents enjoy phenomenal access to multiple employment centers.
All that said, let’s get at the heart of the matter: how’s the real estate market looking? A quick look back at Q1 and Q2 sales (Jan.1-June 30) over the past five years:
| Year | # of Sales | Avg. Sales Price | Avg. Days On Market | Avg. SP/LP | $500k+ | % 500K + |
| 2007 | 34 | $443,997 | 59 | 95% | 6 | 18% |
| 2008 | 33 | $436,093 | 45 | 96% | 8 | 24% |
| 2009 | 21 | $456,529 | 90 | 91% | 6 | 29% |
| 2010 | 22 | $388,405 | 75 | 92% | 2 | 14% |
| 2011 | 18 | $387,972 | 116 | 91% | 2 | 11% |
So, what do all of those numbers really mean?
1. In terms of total sales volume, things really fell off a cliff from 2008 to 2009. As noted in my Decatur Real Estate update, I think that it can be attributed to the hangover/unintended consequences of the First Time Homebuyer Tax Credit.
2. I made a point of counting all home sales $500,000+, as well as their % of total sales. Infill development- tearing down and rebuilding- made a significant impression on the market in the boom years. In this particular sub market, that translated to more homes selling for over $500,000 from 2007-2009. Of course, when the global economy mutated, home builders and banks became much less enthusiastic about building new homes on speculation. To focus solely on the median sales price without noting the collapse in inventory of new construction would be somewhat misleading.
3. Today’s home seller needs to adjust their expectations. In five years, that Average Days On Market has gone from 59 to 116… and this is just for the homes that have sold! Average List Price/Sales Price ratio has also dipped precipitously, and it’s likely that the number of homes that expired without selling also skyrocketed (a statistic not measured as a part of this exercise).
4. Prices have stayed consistent over the last two years, but are still down 13% from 2007.
A few footnotes:
1. This search includes all detached, single family homes in Candler Park. This means no townhomes or condominiums.
2. All data courtesy of FMLS. While I searched by neighborhood, I also cross-referenced by map, to ensure that I wasn’t accounting for any homes that were “mislabled” by the listing agent. You’d be surprised to know that there were homes in neighboring Edgewood and Poncey Highland that were “masquerading” under the Candler Park moniker.
3. I’ve chosen not to include the most recent data- Q3 (July-Sept.) because it often takes a few weeks for all sales to be finalized by the listing agent in the FMLS database. I just didn’t think I’d be able to produce an “apples to apples” comparison by including the most recent data.
{ Tuesday, May 3rd, 2011 }
Emory History Event
John Emory, a popular 19th century American bishop whom Emory University was named after.
Emory University is a pillar of the Atlanta academic and civic communities. It’s observing its 175th anniversary this year, but did you know that it’s only spent half of its existence in Dekalb County? On May 17th, the Dekalb History Center is presenting a lunch and learn on the topic: Twice Upon A Time: The Founding and Re-founding of Emory University. More on the topic, from The Dekalb History Center:
Born in Newton County during the presidency of Andrew Jackson, Emory came to DeKalb in the twentieth century courtesy of Vanderbilt University’s truculence and Asa Candler’s munificence. Through lean times and fat, the university’s history offers tales of saints and scoundrels, vision and misdirection, perseverance and imagination. From the launching of a humble school in rural Georgia to the building of one of the nation’s great urban research universities — a Georgian university that does not play intercollegiate football!
Twice Upon A Time: The Founding and Re-founding of Emory University
- Tuesday, May 17, 2011, Noon to 1:00 pm
- Speaker: Gary Hauk
- Decatur Old Courthouse on the Square, Second Floor, Superior Courtroom
- Free - bring your lunch!
{ Wednesday, March 30th, 2011 }
10 Things We Love About Our House: 1439 Lachona Court
Anyone ever ask you what you love about your home? If they did, how would you answer?
Often times, the process of buying and selling homes gets too hunkered down in numbers. What’s the price? How many bedrooms? How many square feet? What are the taxes? The list goes on and on. Of course, these are all essential questions to ask… but at the end of the day, we buy homes so that we can actually live in them, enjoy them, and hopefully love them. You get my drift.
My clients at 1439 Lachona Court- located in the Toco Hills area- love their home, and in their own words, here’s why:
1. We live on the best street in the neighborhood. It’s a cul-de-sac, and we’ve got great neighbors.
2. The kitchen is huge, and really well appointed. We love having two sinks and the granite countertops go on and on and on.
3. Two-living rooms is key. We have a more formal living room upstairs, with a fireplace and access to the backyard. Downstairs is the big screen tv and the comfy couches.
4. So much storage, it’s absurd. Typically, ranches can be short on storage. Not this one.
5. The private backyard. Plenty of space for what’s truly important: the grill, the playground, and the dog.
6. We’re walking distance to our son’s pre-school, our synagogue, Whole Foods, playgrounds and parks. We can’t imagine living somewhere where we couldn’t walk to so much.
7. When we do need to drive, the house is close to everything: five minutes to I-85 and Emory, ten minutes to Midtown and Decatur.
8. Our dining room is gargantuan. Seriously. We’ve hosted up to sixteen for dinner, no problem.
9. We added a full in-law suite in the basement. Our guests can relax and even sleep in without fear of being woken up my the kids!
10. It’s just a great house. Hard to articulate in words, it’s just one of those things you know when you walk in. It was love at first site for us, and we hope it is for whomever is lucky enough to buy it from us!
View more pictures, and more information about 1439 Lachona Court.
Contact me to schedule a showing of 1439 Lachona Court.
{ Friday, January 28th, 2011 }
1439 Lachona Court Open House
A few weeks ago, I couldn’t help but brag about my listing at 1439 Lachona Court. On Sunday, I’m holding an open house at this beautiful, spacious, well appointed four bedroom ranch.
The open house is from 3-5 on Sunday, January 30.
A few reasons why you should either attend, or forward on this information to a friend or colleague:
1. The house itself is fantastic, and for four bedrooms in this particular location (and price point), you’d be hard pressed to find anything that can hold a candle to it.
2. Not to beat on the location drum too hard, but 1439 Lachona Court is minutes from I-85, Emory, CDC, Toco Hills Shopping Center(s), multiple synagogues, schools, churches and more. Spend more time walking, and less time driving.
3. According to weather.com, it’s going to get up to 60 degrees in Atlanta on Sunday. As much fun as it might be to surf real estate listings online, it’s even more fun to see them in person. Leave your jacket at home and come visit.
4. Scoutmob’s Deal of the Day is 50% off at Broadway Cafe, which is just a stroll away from the open house. Nothing like house hunting after enjoying half off at the best kosher vegeterian (and pizza) joint in town.
The Details
Where: 1439 Lachona Court, Atlanta, GA
When: Sunday, January 28, 2011, 3-5 p.m.
Why: It might be your next house (more information, pictures, etc.)
{ Tuesday, January 4th, 2011 }
Justin Gray, Fox 5 Atlanta
Justin Gray probably knows more about Atlanta’s nooks and crannies than the average bloke. The Fox 5 Atlanta general assignment reporter is always on the go, chasing down leads from Lawrenceville to Loring Heights. The man knows his Atlanta, and he’s got his very own Five Questions With… to prove it.
Q. Most memorable Atlanta reporting experience?
A. The Atlanta tornado. I somehow slept right through it in my loft, while homes 2 blocks from mine were leveled. But walking around Atlanta after, we captured some amazing images.
Q. One day in Atlanta with the Georgia Gang, and you’re playing tour guide. What’s on the agenda?
A. We’ll start with the best coffee in town at Condesa (beats the fox5 greenroom). Then we’ll head out on 1 of the walking tours of the Atlanta Beltline. I didn’t truly understand the Beltline until seeing & hearing the vision firsthand. Next is the obvious destination: Manuel’s. THE spot for people who love politics, journalism and, well, beer. This was the first bar I ever drank in. I first walked in as an Emory freshman worried I’d get carded and I keep coming back today. The liberals and conservatives of the Georgia Gang will both be equally comfortable, as long as they cheer for the Braves.
Q Favorite neighborhoods?
A. Old Fourth Ward/Inman Park. I have all I need here. Good food, neighbors who’ve become friends and stores/bars/restaurants where they know my name & my regular order. The beautiful streets & parks have even made me start to enjoy my morning run.
Q. The most underrated thing about Atlanta is…?
A. The patios. I’ve lived up north in places like NYC and Philly, and what I missed most was patio time. About 9 months out of the year you can sit outside with friends , food and drinks and pretty soon a Saturday afternoon has turned into Saturday night.
Q. One night of dining in Atlanta- where are you going, and what are you ordering?
A. The place I can’t get enough of right now is Empire State South. It is cool and hip, without being pretentious. But the answer might have to be P’Cheen. It’s home base for me and my friends. It’s our Cheers. I’d get a big group, order the “Just Trust us” and let Chef’s Alex and Mike do their thing.
Bonus Question: Why does Fox 5 Atlanta deliver the best reporting in Atlanta?
A. The reporters. All have big, unique personalities. Just the conversations between our cubicles on “reporter row” could make great tv. No former beauty queens or wanna-be celebrities here. It’s a staff of really smart, hardworking, old-school reporters. I’m proud to work alongside them.
