Gwinnett Home Gurus

Welcome to the section!

As we each embark on a new journey, let's cover a few basics so as we move forward you are up to speed on what we plan to cover.

In my weekly column, you will find articles and information on the local Gwinnett County real estate market and how we are recovering from the worst housing downturn since the Great Depression. We will also explore where Buyers can find some of the best "Deals" in the County as well as cover some of the areas finest places to call home.

Gwinnett County had seen tremendous amount of growth for a number of years up until 2007 when unemployment started to rise, the stock market looked like a roller coaster and the housing market started a free fall to the levels we are seeing today. Since 2007, our home values have seen decreases in excess of 35 percent in some areas and most are in the high 20 percent range.  With the onslaught of both home foreclosure and pre-foreclosure (Short Sales) sales the market took a beating that we are just now starting to recover from.

A good barometer of where we are as a market is to think of it this way. Home values are trending at 1997 levels means that what a person could buy a home for in 1997 is the same dollar amount that you can purchase it for today.

Back in January I was interviewed by a reporter from the NY Times who came to Atlanta to see first hand how the market has changed over a very short period of time. In Motoko Rich's article "In Atlanta, Housing Woes Reflect Nation's Pain" she pointed out that Atlanta peaked at over 100,000 people relocating into the area in 2006 but that number had dropped to only 17,000 according to census data. When people stop moving to Atlanta the economy and the housing market is going to suffer greatly. According to the S&P Case-Shiller Index metro Atlanta prices have dropped over 14 percent in just the past year based on May 2011 - May 2012 figures.

Now the good news. We are starting to see increases in values as the foreclosure market continues to dwindle and the traditional seller waits on the sidelines to make their move inventory falls. When inventory falls, prices rise. We should continue to see this trend moving into late 2012 and early 2013 and while we are not out of the woods, we can see through the trees to greener pastures ahead.

As for me and who I am? My work with both Buyers and Sellers in Gwinnett County over the past ten years has given me the opportunity to gain a vast knowledge of the real estate market as a whole as well as being "in the trenches" during both the good and the tough times. Working with Keller Williams Realty Atlanta Partners has afforded myself the opportunity to work along side some of the best real estate agents in the industry. Recently I was honored to learn I was ranked in the top 10 percent of all Keller Williams agents on a International level. Without my past, present and future clients this would not have been possible so to each of you, I say thanks.

Let me know what you would like to see moving forward in this section and I will do what I can to provide worthwhile and relevant information to you.

You are also welcome to find me online and in all Social Media outlets so feel free to Friend me, Tweet me You Tube me and Link with me. You can also check out my real estate related websites at Atlanta Homes Guru, Matt Hermes & Associates and many more.