Mill Creek Real Estate Market Update

Drayton Hall Home

Drayton Hall HomeIt’s that time again, you should be seeing your “newsletter” in your mailbox in the coming days.  It’s a very exciting time to be in real estate!  It’s still a hot real estate market and  it’s an outstanding move up market.  You can still sell high and buy low (assuming you are moving up).

The Danger of Waiting To Sell

In all Mill Creek areas, there is new construction.  These new homes sold by professional sellers (builders) are competing with resells.  With the market on recovery and prices rising and inventory low it’s a good time to sell.  However, waiting until spring might very well set you back a few years as your home likely won’t compete well with new construction.   So you can either lower your price (come spring) to be below the local builder or wait until they leave the area (with the number of vacant lots around, isn’t very likely).

Our recommendation is sell now and be aggressive.  Rates are low but rising so that’s another reason to move now.  Rates went up a whole 1% in just 5 short months.   It’s still cheaper to buy then rent and we’ve got at least 6 more months before builders start flooding the market with more homes!

GREAT NEWS FOR SHORT SELLERS!

FHA has come out with a “Back to work” program that allows homeowners who short sold their home to get a mortgage in only 12 months (instead of 2 years).  Contact us for more information on this great program.

Mill Creek Neighborhood Round Up

Daniel Park is still selling the fastest of all neighborhoods.  This is great news as those sellers are likely to upgrade to Hidden Falls or Chateau Elan

Hidden Falls continues to do well, however homes that are over $450,000 will sit on the market noticeably longer as there’s twice as much inventory at that price point.

Chateau Elan continues to sell homes at a normal pace, the striking thing is that there are still foreclosures to buy in there.  This is a bit baffling with all the short sale options.

Trilogy Park is lagging behind in the recovery overall, to add insult to injury one of the original builders is now building homes under $300,000 which will keep homeowners in this great neighborhood from experiencing the growth that the other subdivisions have experienced.

Hamilton Mill is only $3,000 away from getting back to an average price point of $300,000.  This is great news for this neighborhood.  There are still great deals under $300,000 to be found in Hamilton Mill, but the average price is a great sign.

Drayton Hall, sold one recently.  It’s still one of the most exclusive neighborhoods in our area and it’s nice to see movement in this sector.  However, be wary, if you plan to sell your home in Drayton Hall or Chateau Elan, stay out of the $2 Million price range.  Nothing has sold in ALL OF GWINNETT county over $2 Million.

Finally, Hedgerows is still in a transition, with short sales, foreclosures and new construction.   Thankfully, builders here are building homes well over $450,000 to help keep prices rising.  (sales last month ranged from sub $300 to $475).

To Get a Free CMA For Home Values – Click Here. 

 

Real Estate Market Conditions For Mill Creek

You’ll be getting another mailer in your mail box if you’re on our list and it you’ll quickly see what’s going in our market.

The investor demand and first time home buyer demand is driving the prices up in the lower tier and that is spilling over into the higher tiers.  So if you are thinking of selling this might be the time to ride that way, but we’re definitely calling it a move up market.

You’ll notice that Daniel Park was completely sold out as of this writing of homes, the most affordable neighborhood we track and it’s becoming increasingly hard to find sub $250,000 in Hamilton Mill.   We’re not where we were still a good 20% or more off in many instances but we are on our way back and with the low interest rates and low prices it might be a good time to move up to Hidden Falls or Chateau Elan.

 

Mill Creek Market Mailer

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If you live in the Mill Creek area then you likely got our mailer (let us know if you want it sent to you).  The mailer details the first 2 months of activity in our neighborhoods.  Specifically, Chateau Elan, Daniel Park, Hamilton Mill, Hedgerows, Hidden Falls and Trilogy Park.  These neighborhoods represent the majority of the Mill Creek Real Estate “ecosystem” as it were.  Unfortunately, although our mailer looked great it was missing the header row. Continue reading “Mill Creek Market Mailer”

Market Is On Fire – Sold In 7 Days!

SOLD HOMEWe listed this home to the left and had an offer in 24 hours.  While we negotiated this offer we received another, much more attractive offer (which rarely happens) but we will be closing this in just a few days.  The owner only had to clean and do touch up work inside the home after the renter left and they are getting about 97% of what they asked for (listing price).  This was not a short sale, so if you are thinking of selling, please contact us.

 

 

Continue reading “Market Is On Fire – Sold In 7 Days!”

Mill Creek GA Homes Opens!

hiddenfalls1Mill Creek GA Homes Opens!

Mill Creek GA Homes is a resource for Mill Creek GA Home Owners.  As your neighbor I wanted to create a resource so that you’d know what homes were selling for, what the going trends were and really just be overall more informed.  You do have to sign up for free to get the most up to date information, but this will be a no holds barred delve into the factual data, complete with spreadsheets for my engineer friends.

If you have a request you’d like to see here, simple contact us!