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Published January 3, 2010
By Mary Floyd, Prudential Georgia Realty
404.312.3837, www.maryfloyd.com This is the latest report for Sugarloaf Country Club Real Estate in Duluth, Georgia.
If you are interested in details on a specific property, please contact me.
The next report will be posted in a few weeks. Summary Of 2009 Pendings (Signed Contracts But Not Closed) Month | Type | Address | Last List Price | April | Resale | 2335 Sugarloaf Club Drive | $5,635,000 (1) | September | Short Sale | 2174 Wynnton Pointe | $999,000 (2) | December | Bank-Owned | 2761 Major Ridge Trail | $1,299,000 | December | Short Sale | 2706 Wynnton Drive | $995,000 |
(1) This property has been pended since the spring. It is currently being rented. (2) This property was pended but is now back on the market as an active listing. Summary Of 2009 Closings This report shows all the closed sales for each month. In addition, I show the "Original List to Sale Ratios" which reflect the original list price of the property. It is common for list prices or MLS numbers to change. This provides a good sense of the original pricing versus the final closed pricing. As you can see, there is a wide variance in these ratios.
More importantly, I am providing the "Last Sale to Current Sale Price Ratio" which reflects the last sale from the tax records compared to the recent closed sale price. This is a much better indicator of the trends for Sugarloaf Country Club real estate values. As you can see, short sales & foreclosures are having a significant impact on our home values.
I have additional ratios and detailed information available for my clients. Please contact me if you would like to learn more details about Sugarloaf Country Club real estate and your opportunity to make the best decision to buy or sell. Month | Type | Address | Original List | Sold Price | Prior Sold Price | List-Sale Ratio | Last Sale-Current Sale Ratio | Jan | Bank-Owned | 2462 Oak Hill Overlook | $599,000 | $520,000 | $652,000 | 87% | 80% | Feb | Corp-Owned | 2621 Lovejoy Circle | $1,199,000 | $930,000 | $1,128,700 | 78% | 82% | Feb | Builder Short Sale | 2286 Bransley Place | $2,500,000 | $1,300,000 | New (1) | 52% | | Feb | Corp-Owned | 2905 Fitzgerald Trace | $1,549,000 | $1,200,000 | $1,720,000 | 77% | 70% | Mar | Resale | 2741 Chieftain Run | $865,000 | $780,000 | $606,600 (2) | 90% | | Mar | Resale | 2702 Mt. Pleasant Trail | $1,000,000 | $897,000 | $772,500 | 90% | 116% | Mar | Bank-Owned | 2508 Dawsons Point | $1,195,000 | $1,050,000 | $1,213,327 | 88% | 87% | Mar | Short Sale | 2835 Eudora Trail | $1,300,000 | $991,898 | New | 76% | | Apr | New | 3093 Bagley Passage | $1,195,000 | $879,000 | New | 74% | | Apr | Short Sale | 2734 Gordon Banks | $1,075,000 | $1,064,500 | $1,295,000 | 99% | 82% | Apr | Short Sale | 2315 Sugarloaf Club Drive | $950,000 | $850,000 | $950,000 (3) | 89% | | April | Short Sale | 2573 Thurleston Lane | $699,000 | $659,000 | $945,000 | 94% | 70% | April | Bank-Owned | 2898 Major Ridge Trail | $1,199,000 | $1,025,000 | $1,388,667 | 85% | 74% | May | Short Sale | 2733 Thurleston Lane | $1,299,000 | $1,116,000 | $1,665,000 | 86% | 67% | May | Builder Foreclosure | 2626 Wynnton Drive | $1,499,000 | $1,274,150 | New | 85% | | May | Short Sale | 2691 Nutwood Trace | $789,000 | $700,500 | $932,000 | 89% | 75% | May | Bank-Owned | 2111 Broadfield Run | $709,900 | $650,000 | $998,000 | 92% | 65% | June | Bank-Owned | 2244 Taylor Grady Terrace | $607,900 | $573,000 | $707,050 | 94% | 81% | June | Bank-Owned | 3229 Carmichael Place | $1,499,000 | $1,129,000 | New | 75% | | June | Bank-Owned | 3095 Cypress Pond | $1,199,000 | $1,000,000 | $2,179,984 | 83% | 46% | July | Short Sale | 2797 Darlington Run | $929,000 | $827,400 | $1,027,703 | 89% | 81% | July | Short Sale | 2549 Grey Moss CT | $769,900 | $568,000 | $899,000 | 74% | 63% | July | Corp RELO | 2858 Grey Moss Pass | $1,495,000 | $1,395,000 | $1,483,200 (3) | 93% | | July | Resale | 2825 Darlington Pointe | $2,299,000 | $1,700,000 | $1,750,000 (3) | 74% | | July | Builder Short Sale | 3114 Touchton Court | $1,099,000 | $915,000 | New | 83% | | July | Builder Short Sale | 2363 Seaborn Place | $1,375,000 | $850,000 | New | 62% | | July | New | 2784 Pebble Hill Pointe | $1,473,000 | $915,000 | New | 62% | | July | Bank-Owned | 2797 Mt. Pleasant Trail | $633,699 | $585,000 | $714,000 | 92% | 82% | August | Corp RELO | 3520 Moye Trail | $1,499,000 | $1,200,000 | $1,624,900 | 80% | 74% | August | Builder Short Sale | 3117 Sproul Way | $1,199,000 | $950,000 | New | 79% | | August | Short Sale | 3308 Bagley Trace | $1,360,000 | $1,250,000 | $1,950,000 | 92% | 64% | August | Builder Short Sale | 2915 Fitzgerald Trace | $1,399,000 | $1,200,000 | New | 86% | | August | Resale | 2877 Major Ridge Trail | $1,650,000 | $1,350,000 | $1,537,700 | 82% | 88% | August | Bank-Owned | 2833 Thurleston Drive | $799,000 | $785,000 | $1,421,400 | 98% | 55% | September | Short Sale | 2888 Major Ridge Trail | $1,600,000 | $1,212,000 | $2,185,200 | 76% | 55% | September | Bank-Owned | 2669 Wynnton Drive | $789,900 | $689,900 | $887,488 | 87% | 78% | September | Bank-Owned | 2826 Darlington Pointe | $633,300 | $640,000 | $659,227 | 101% | 97% | October | Short Sale | 3173 Bagley Passage | $1,485,000 | $900,000 | New | 61% | | October | Corp RELO | 3317 Bagley Trace | $1,099,900 | $810,000 | $1,250,000 | 74% | 65% | October | Short Sale | 3110 Wrightsboro Run | $923,110 | $778,000 | $1,145,000 | 84% | 68% | October | Short Sale | 3690 Moye Trail | $860,000 | $755,000 | N/A | 88% | | October | Resale | 1865 Sugarloaf Club Drive | $849,900 | $780,000 | $915,000 | 92% | 85% | November | New | 3490 Moye Trail | $1,398,000 | $1,028,000 | New | 74% | | November | Corp RELO | 2856 Eudora Trail | $975,000 | $770,000 | $920,000 | 79% | 84% | November | Bank-Owned | 2735 Gordon Banks | $662,000 | $638,000 | N/A | 96% | | November | Bank-Owned | 2883 Thurleston Drive | $785,000 | $461,000 | $717,000 | 59% | 64% | November | Bank-Owned | 2414 Thurleston Drive | $519,800 | $465,000 | $745,000 | 89% | 62% | November | Corp RELO | 2804 Thurleston Drive | $895,000 | $575,000 | $784,000 | 64% | 73% | November | Bank-Owned | 2747 Lockerly Lane | $659,900 | $500,000 | $853,725 | 76% | 59% | December | Short Sale | 3155 Cypress Pond Pass | $1,500,000 | $900,000 | $1,370,000 | 60% | 66% | | 82% | 74% |
(1) This property was purchased as a "partially completed" new home.
(2) Property originally purchased in 1997.(3) Properties known to have significant upgrades added above the prior sold price.
Listing Inventory
- 84 properties are currently for sale in Sugarloaf. Listing inventory has continued to remain lower than this time last year. For metro Atlanta, listings are down 28% from the previous year. Many sellers continue to wait on the sidelines given the aggressively priced competiton from bank-owned properties, short sales and corporate relocation properties. The average number of listings for 2008 was 122 properties with numbers around 140 properties in the spring and summer months. In 2006, there was an average of 68 for sale. In 2007, the average number of properties for sale was 85.
Sugarloaf Foreclosures - The Atlanta Foreclosure Report shows 5 more Sugarloaf properties that were given “notices of default” and scheduled for the February auction. It is clear that all the forms of foreclosures (builder short sales, builder foreclosures, residential short sales, bank-owned properties) plus certain corporate relocation & company-owned properties are having a significant impact on the real estate values for Sugarloaf. Contact me to learn what this means for Sugarloaf home values
and how appraisers will use this information in the future.
Contact me to learn about my Sugarloaf Country Club Foreclosure Report. This report includes all the details of the latest pre-foreclosures, auctions, bank-owned, private auction and company-owned properties.
Sugarloaf Home Values - Since the peak of July 2007, metro Atlanta home values are down 17.99 according to the latest S&P Case-Shiller Index. However, since the low point in March 2009, metro home values have actually gained 4.81% which erases some of the previous drop in value. Sugarloaf home values have not been immune to declines as evidenced by the closing details listed in this report. The average original list price to sales price ratio for 2008 was 88%. In 2009, that average has dropped to 82% driven down primarily by aggressive pricing from short sales, foreclosures and corporate relocation properties. When compared to the previous sold prices, Sugarloaf homes are selling for 74% of the last recorded sold prices. It is important to remember that foreclosures typically need significant repairs and maintenance to get back in proper condition. Many resales have also been updated and upgraded so these are often not reasonable comparisons. Buyers are looking for great deals and finding them.
This is an excellent time for Trade-In and Move-Up Buyers! If you purchase a home for less than $800,000, you may be eligible for a $6,500 tax credit. These low prices and low mortgage rates will not last forever. Contact me for details of my "hot list"of properties.
If You Are Considering Listing Your Home
For The Early Spring & Summer Market - Please Read If you are considering listing your home for the early spring and summer market, your property must stand out from the competition. My Advanced Property Marketing System was developed for the current market and is the most effective methodology available for these conditions. The highest returns are generated when a buyer "falls in love" with the property. That is why we spend so much time, effort and money on our marketing. - Did you know that we expose your property to 500+ real estate websites plus thousands of other websites from our networks of broker partners. Simply put - no other brokerage offers more online exposure!
- Did you know that our listings are highly prioritized in search results - not buried deep in the pages like other listings!
- Did you know that Prudential is the leader for corporate Relocation buyers!
- Did you know that Prudential Georgia was the first large broker in the nation to receive the prestigious Realtor.com Online Marketing Award of Excellence!
My website is the leading real estate website for Sugarloaf Country Club real estate. Just go to Google and type in terms like "sugarloaf country club real estate", sugarloaf real estate duluth", sugarloaf country club foreclosures" and other similar terms. When buyers are searching for Sugarloaf, my listings get found more often! I am working with several qualified buyers right now.
Contact me to see if your property is the right fit!
Click to view the Sugarloaf Country Club 2008 Real Estate Report.
Statistics from FMLS, Trendgraphix, SmartNumbers, Case-Shiller Index, First American, OFHEO, RealtyTrac, GSCCCA and Equity Depot. Information deemed reliable but not warranted. If your property is currently listed with another broker, this is not intended as a solicitation.
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