Market stats for Lilburn, November, 2010, indicates that there are 425 properties on the market (as of November 30th). Overall, there is about a 11.8 month supply of properties.  Lilburn is actually mid-pack among cities in Gwinnett County.  Absorption Rates had been improving since March, until September.  In fact, in March there were 15.3 months of inventory.

In the sub-$200k arena, there are 264 listings, with about an 8.6 month supply.  This represents most of the sales in the market area, and reflects the same improvement in inventory levels, continuously since March, until October.  Sales were on par with November 2009 (28 v 24).

Between $200k and $400k, there are 134 listings for sale, and about 28.7 months of supply. This segment has also been getting stronger each month since March, until September.  There were only 2 sales in September 2010, compared to 11 last year and 6 in October v 18 in 2009.  November held 6 sales in 2010 v 9 in 2009.  The expected end of the tax credit last year started pushing sales down in Nov. 2009.

From $600k to $800k, $800k to $1M and Above $1M, there are 5 listings (combined), but too few sales to have any sort of reliable number of months of inventory.  There has been one sale in the last four months, but prior, there had only been a few other sales in 2010 (January, March and August).  One of the listings is above $1M (none between $800k and $1M), and there is no market activity in the last 12 months for that range…

Lilburn is in Gwinnett County, GA, just outside of Atlanta.  As of the 2000 Census, there were 11,307 people in Lilburn, but that is only including people in the city limits, and there has been a lot of growth since 2000 in Gwinnett County.  It was incorporated in 1910.  Lilburn is home to Parkview High School, and also has students that the Brookwood, Berkmar and Meadowcreek clusters. It is also home to Killian Hill Christian School, Providence Chrisian Academy, St. John Neumann Catholic School and Parkview Christian School.  Possibly the most famous resident of Lilburn is General Beauregard Lee, a groundhog with a better winter prediction record that Puxatawnee Phil up in PA. Dominique Wilkins, formerly of the Atlanta Hawks also lives in Lilburn.

I have a page dedicated to Lilburn Market Data.

Related articles

• Lilburn, GA Market Report, October 2010 (lanebailey.com)
• Lilburn, GA Market Report, September 2010 (lanebailey.com)
• Lilburn, GA Market Report, August 2010 (lanebailey.com)

Lilburn GA market Report from LaneBailey.com

I talk about Absorption Rates all of the time…  In fact, in at least 8 posts a month (all of my market report posts) Absorption Rates play a key role.  Understanding what they are and why they matter is a key part of understanding my market reports.

Last year I wrote an in-depth post about exactly what Absorption Rates mean.  I tried to make it a little more real by talking about how it relates to keeping a stock of frozen Pizza around the house.

The concept isn’t terribly difficult to understand, but can sound complicated…  It is one of those things that a lot of people smack themselves in the forehead when they all of a sudden “get it”… and wonder why they didn’t see it all along.

Drop in and take a look…  This is a post that I will reference often…

Related articles

• Duluth, GA, Market Report, October 2010 (lanebailey.com)
• Suwanee, GA, Market Report, September 2010 (lanebailey.com)
• Gwinnett County, GA, Market Report, August 2010 (lanebailey.com)
• Lilburn, GA Market Report, October 2010 (lilburndwellings.com)
• Flashback Friday… Absorption Rates, What Are They? (lanebailey.com) original source

via Lane Bailey

Lilburn is in Gwinnett County, GA, just outside of Atlanta.  As of the 2000 Census, there were 11,307 people in Lilburn, but that is only including people in the city limits, and there has been a lot of growth since 2000 in Gwinnett County.  It was incorporated in 1910.  Lilburn is home to Parkview High School, and also has students that the Brookwood, Berkmar and Meadowcreek clusters. It is also home to Killian Hill Christian School, Providence Chrisian Academy, St. John Neumann Catholic School and Parkview Christian School.  Possibly the most famous resident of Lilburn is General Beauregard Lee, a groundhog with a better winter prediction record that Puxatawnee Phil up in PA. Dominique Wilkins, formerly of the Atlanta Hawks also lives in Lilburn.

Market stats for Lilburn, August, 2010, indicates that there are 481 properties on the market (as of August 31st). Overall, there is about a 9.6 month supply of properties.  Lilburn is actually one of the better performing cities in Gwinnett County.  Absorption Rates have been improving since March.  In fact, in March the re was 15.3 months of inventory.

In the sub-$200k arena, there are 292 listings, with about an 7.8 month supply.  This represents most of the sales in the market area, and reflects the same improvement in inventory levels since March.  And, one other thing to keep in mind is that sales were VERY strong compared to August 2009 (38 v 25).

Between $200k and $400k, there are 162 listings for sale, and about 14.3 months of supply. This segment has also been getting stronger each month since March.  However, there were only 9 sales in August 2010, compared to 13 last year.

From $400k to $600k, there are 22 homes on the market. The absorption rate is around 22 months.  There were exactly the same number of sales in August 2009 (3) as this year, but there were no sales in this segment in May, June or July.  Last summer was much stronger.  With just a few sales, just a sale or two can make a huge difference.

Above $600k, there are 5 listings, but too few sales to have any sort of reliable number of months of inventory.  There has been one sale in the last three months, but prior, there had only been a few other sales in 2010 (January and March).  Two of the listings are above $800k, and there is no market activity in the last 12 months for that range…

I have a page dedicated to Lilburn Market Data.

Related articles by Zemanta

• Big League Dreams in Lilburn? (lilburndwellings.com)
• This is what I feared… Gwinnett Market Report – July, 2010 (lanebailey.com)

from LaneBailey.com

Gwinnett websites allow you to set up automated alerts for sex offenders living in the area of your current or future home.  Another site notifies you of all daily arrests by zipcode for all of Gwinnett.

Here’s the link to set up alerts for Gwinnett County sex offenders

This one is for the GwinnettMugs.com arrest record alerts by zipcode

Check it out before you buy your new house in Gwinnett

I’d like to suggest a few additions of my own, such as Escape Velocity and Man-Friend (a term my daughter uses to describe friends of mine that are the other fathers of her softball teammates)

Here’s the Time Mag list:

How much does a mortgage cost? The answer depends on where you live. But no matter which your locale, chances are strong that you’ll pay more for a mortgage in 2010 as compared to 2009.

Here’s a chart that shows some comparison cities.  Georgia comes in right about in the middle.  Closing costs on Gwinnett County homes have been way more affordable than most other states.  New York, Texas and others really tip the scales!

According to Bankrate.com and its annual Closing Cost Survey, a typical $200,000, purchase mortgage now carries an average $3,741 in closing costs — up nearly 37 percent from last year.

As defined by Bankrate.com, “closing costs” is defined as the sum of two numbers.  The first group is labeled “origination charges”, a category that includes such items as underwriting fees, application fees and processing fees.  These fees are paid directly to the loan originator’s company at the time of closing.

The second grouping of costs is labeled “third-party fees”.  Third-party fees include appraisals, credit reports, settlement fees and title searches — items paid in connection with the loan, but not paid to the lending bank or broker.

It’s unclear why closing costs appear to have escalated into 2010, but Bankrate.com suggest that recently-enacted federal lending laws are a culprit:

1. The new law requires loan officers to be accountable to a Good Faith Estimate’s accuracy. Bankrate.com’s prior-year surveys may have been “understated”, therefore, because of a lack of accountability.
2. The cost of federal compliance is high, and banks may be passing on compliance costs to consumers

To see the complete list of closing costs by state, including where Georgia ranks, visit the Bankrate.com website.

The team is hosting a full-field open golf tournament to raise money for their upcoming bid for the national title!!

All are welcome so why not bring your best buddies for the 4 man best ball event on Thursday October 21, 2010.  All the details are at 96Cobras.com

Went to the gym (back on track it seems).  After all of that, I stopped at one of my favorite coffee joints to grab some joe and some breakfast.

I wanted something to read while I chilled out for 15 minutes or so. I didn’t have my iPad with me or a book, so I decided to buy a newspaper (gasp!).  First I went for the USA today.  It was actually sold out.  So, I picked up the Atlanta Journal & Constitution.  It cost me a buck! (same as USA Today).

I took the paper out of the machine (the outdoor kind that takes quarters).  The first thing I noticed was how super thin and light this one dollar paper was.  Once I sat down with it, I scanned the front page for something worth reading.  Sadly, nothing seemed worth 4 minutes of my life.  I flipped through all of the sections.  The very last section was called “living” or something like that.  I found one story there that I liked about “the moments that sustain us”.  It was a cool little piece about how the small things in life are the ones we remember forever.

If I’d had my book or my iPad or my Mac, there’s no way I’d have paid $1 for this lame excuse for a paper that gave me one sorta “meh” story.

I’m quite certain that I’m stating the obvious here, but…

Newspapers are dead!

btw, I’m not saying that print is dead.  But newspapers definitely are.

(originally posted at ForwardSlashLife.com )

If you’ve been planning to visit 12 Stone Church but had trouble finding the right schedule for you, something cool is coming.  Starting September 18, 2010, there will be two Saturday night services at the Hwy 20 campus – 5pm and 645pm.

They are calling it “Saturday Campus” because it’s really a completely seperate team from the Sunday.  Saturday will have it’s own awesome worship team and campus pastor plus a totally unique set of volunteers to run the childrens ministry, usher team, etc.  It takes a small village to make it happen when the Church seats 2500 people!

Right now you can get connected to the Saturday Night Campus via facebook or contact 12Stone Church at 678.990.8100

Federal Government Overhauling Housing Policy? What Does That Mean For You?

With the rise of the powerful federal government, policy decisions coming out of Washington DC are having more and more influence over our economic decisions. When it affects the auto industry or the banking industry, these decisions may affect those of us involved in real estate, but it will not change our lives.

Here’s the full text of his post: