NORTON NATIVE INTELLIGENCE
'MARKET WATCH'
July 2010 Issue 269
The Norton Agency, For 81 Years The Region's Largest Insurance and Real Estate Firm.
"The Power to Perform"
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In This Issue:
Datamine: Housing Market, June2009 thru May 2010 Banks, Barrow, Forsyth, Gwinnett, Habersham and Hall Counties
Regional Tracts: Barrow County, Gwinnett County, Hall County
National Tracts: Housing Recovery Expected by 2011; Who's Hiring in 2010?
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DATAMINE
|
Home
Value
|
County
|
Active
|
Sold
|
Sales per
month
|
Months of
supply
|
County
|
Active
|
Sold
|
Sales per
Month
|
Month of
Supply
|
|
|
Banks
|
|
|
|
|
Barrow
|
|
|
|
|
|
$0-$150,000
|
|
53
|
50
|
4.17
|
12.72
|
|
256
|
485
|
40.4
|
6.33
|
|
$150,000-$250,000
|
|
31
|
12
|
1
|
31
|
|
110
|
99
|
8.25
|
13.33
|
|
$250,500-$350,000
|
|
10
|
6
|
0.5
|
20
|
|
26
|
19
|
1.58
|
16.42
|
|
$350,000-$450,000
|
|
0
|
0
|
0
|
0
|
|
31
|
21
|
1.75
|
17.71
|
|
$450,000-$550,000
|
|
3
|
0
|
0
|
200+
|
|
12
|
6
|
0.5
|
24
|
|
$550,000-$650,000
|
|
3
|
0
|
0
|
200+
|
|
3
|
5
|
0.42
|
7.2
|
|
$650,000-$750,000
|
|
1
|
0
|
0
|
200+
|
|
2
|
4
|
.33
|
6
|
|
$750,000 - UP
|
|
3
|
0
|
0
|
200+
|
|
16
|
1
|
0.03
|
192
|
|
|
Forsyth
|
|
|
|
|
Gwinnett
|
|
|
|
|
|
$0-$150,000
|
|
187
|
297
|
24.75
|
7.55
|
|
1939
|
3929
|
327.42
|
5.92
|
|
$150,000-$250,000
|
|
632
|
883
|
73.58
|
8.59
|
|
2468
|
2928
|
244
|
10.11
|
|
$250,000-$350,000
|
|
529
|
553
|
46.08
|
11.48
|
|
907
|
847
|
70.58
|
12.85
|
|
$350,000-$450,000
|
|
299
|
305
|
25.42
|
11.76
|
|
408
|
317
|
26.42
|
15.44
|
|
$450,000-$550,000
|
|
158
|
132
|
11
|
14.36
|
|
209
|
94
|
7.83
|
26.68
|
|
$550,000-$650,000
|
|
112
|
84
|
7
|
16
|
|
115
|
53
|
4.42
|
26.04
|
|
$650,000-$750,000
|
|
77
|
35
|
2.92
|
26.4
|
|
66
|
35
|
2.92
|
22.63
|
|
$750,000+
|
|
147
|
34
|
2.83
|
51.88
|
|
189
|
79
|
6.58
|
28.71
|
|
|
Habersham
|
|
|
|
|
Hall
|
|
|
|
|
|
$0-$150,000
|
|
199
|
141
|
11.75
|
16.94
|
|
480
|
659
|
54.92
|
8.74
|
|
$150,000-$250,000
|
|
137
|
4
|
0.33
|
411
|
|
428
|
374
|
31.2
|
13.7
|
|
$250,000-$350,000
|
|
65
|
19
|
1.58
|
41.05
|
|
278
|
183
|
15.25
|
18.23
|
|
$350,000-$450,000
|
|
40
|
9
|
0.75
|
53.3
|
|
163
|
79
|
6.58
|
24.76
|
|
$450,000-$550,000
|
|
14
|
0
|
0
|
200+
|
|
97
|
33
|
2.75
|
35.27
|
|
$550,000-$650,000
|
|
10
|
0
|
0
|
200+
|
|
56
|
19
|
1.58
|
35.37
|
|
$650,000-$750,000
|
|
3
|
0
|
0
|
200+
|
|
53
|
9
|
0.75
|
70.67
|
|
$750,000+
|
|
29
|
0
|
0
|
200+
|
|
152
|
16
|
1.33
|
114
|
REGIONAL TRACTS
Barrow County - June 2010 - A German plastics manufacturer is relocating its Georgia plant from Doraville about 30 miles east to Barrow County after outgrowing its facility.
Schutz Containers systems will move the plant sometime next year, bringing up to 300 jobs to the east Georgia county within five years. The company is expected to start building the nearly 600,000-square-foot facility in a few months. The plant makes plastic bulk containers that companies use to hold beverages, chemicals and water.
Ian Miller, chief financial officer of Schutz's U.S. headquarters in New Jersey declined to comment on the move. Source: Associated Press
Gwinnett County - June 2010 - The Gwinnett County Board of Commissioners plans to adopt a 13.25 millage rate for 2010, the same rate as the amended property tax levy for 2009.
Although the rate will stay the same, the county faces a $31 million shortfall in the budget that was set in January. Aaron Bovos, the county's chief financial officer, said Gwinnett has experienced a $3.2 billion decrease in the gross value of the tax digest because of declining residential and commercial property values. It has not been decided exactly how the budget will be reconciled to make up for the shortfall, Bovos said. source: Gwinnett Daily Post
Hall County - June 2010 - The Hall County Planning Commission denied the request of Troy Ledbetter of Jasper, Georgia, developer of Eagle's Landing Subdivision in northeast Hall County, to reduce the minimum size of homes in the subdivision from 1800 square feet to 1200 square feet. The subdivision was built in 2007.
Ledbetter cited the inability of potential buyers to secure financing for the larger sized residences as the reason he wanted to downsize the original requirements. Ledbetter's request was to amend the size requirements on just one street in the development, Rocky Ridge Run, which had not yet had any lots purchased.
Following Ledbetter's request before the Commission, seven different individuals came to the podium to express opposition to Ledbetter's request. They presented three different signed petitions with signatures of concerned individuals in the area who were also opposed to the sizing amendment.
Planning Director Randy Knighton explained that the original zoning status given to the development, R-1, has the most restrictive residential zoning requirements outside of special planned developments.
The Planning commission Staff also made a recommendation to the Commission that if a reduction be allowed, that the square footage requirement not fall below 1500 square feet.
NATIONAL TRACTS
Survey Says: Housing Recovery Widely Expected by 2011 - MacroMarkets LLC announced that, according to its new monthly survey the onset of price recovery in U.S. single family real estate is widely expected by 2011, and home prices will increase by more than 12.4% between 2010 and the end of 2014. The survey also revealed that home prices nationwide are expected to have risen 4.95 in the 12-month period ended March 2010, but fallen 0.4% during the most recent quarterly period measured.
The MacroMarkets Home Price Expectations Survey is based upon the projected path of the S&P/Case-Shiller U.S. National Home Price Index.
Who's Hiring in 2010?
- 32% - Information Technolog27% - Manufacturing
- 23% - Financial Services
- 21% - Health Care
- 11% - Green Jobs
Source: CareerBuilder
What's New @ Norton - The Norton Agency has launched a gigantic yard sale promotion with a stellar inventory of quality listings the firm is maximizing the promotion and availability. Norton has been selling North Georgia by the yard since 1928.
Norton has created a 'Lake Lanier Market Perspective' to be updated quarterly and can be obtained from any Norton Real Estate agent.
