Ryan Ward

I'm not sure when it happened, but, about a week ago, I started noticing that the city of Milton was being map correctly by Google. This may not seem to be a big deal, but, many homes don't map with GPS. The iPhone eliminates this as a problem now because with built in Google maps and GPS it will be a bit easier to find many of these new construction homes that were previously not mapping. Perhaps it will help to get agents to list homes correctly in Milton rather than in Alpharetta. For those familiar with the area, Milton real estate really is different than Alpharetta and a lot of buyers find the distinctions to be very important. Now if most agents cvould figure it out...

Well, like most places, the Atlanta real estate market doesn't seem to be seeing the usual spring increase in pendings and you know what that means - more listings will come online and that will continue to make the market unbalanced with higher than usual supply and lower demand to make it worse. I was certainly hoping that we would see an increase in pending sales by now as an indicator of future trends, but, it just isn't happening. Here is a chart I made showing what actual values have been doing over the last year in Atlanta:

Ugly would be the way it looks to me. Lower prices will eventually make buyers feel there is value in homes once again, but, let me tell you how many buyers I have talked to in the last 3-4 months that simply look at homes here in Atlanta and say to me how overinflated prices are.

At the end of the day, THEY dictate whether values are in fact overinflated. No one else. Until they feel better, we will probably continue on this trend.

At least that's the way it looks based on the numbers thus far. Easpecially in the condo and townhome market. There is an estimated 4 year supply of new construction homes in this category so if you can't find a good deal on one as a buyer, be prepared to own it for a few years before you try to sell it.

Atlanta real estate news is not all quite as bad as this, but, I just don't see inventories coming down far enough to not see some additional declines in pricing before we are finished. It would be nice to hear nothing but "the wind is at our back" or "it's all downhill from here", but, that is just not the case. It looks like we are in for a little bit more of a ride down this road with excessive inventory before things begin to level off.

However, there are some important points to note about the market. Some basic and fundamental truths about real estate which hold true in all markets. Good homes will sell and homes that are not as good MUST be price appropriately to have a chance to sell in this market. Currently I have 2 homes under contract and both of them had multiple offers. One had an offer on another house which also had multiple offers. We are also working on another offer to sell which will lead to another purchase so it isn't like people aren't buying anything. They just are only buying good houses or houses that are priced aggresively based on their condition. If you plan on listing your home this spring, be prepared as it probably won't sell for the same amount as it would have last year.

Alpharetta is thought of by most Metro Atlanta residents as one of the more upscale areas in the city and it is true that there are high end homes. However, expensive homes are not one of the top reasons that Alpharetta is one of, if not the best place to live in Metro Atlanta. When considering where to live, it's important to consider of number of characteristics and expensive homes should be rather far down the list. More important is to consider what type of life you can have in the city based on more quantifiable traits. The city of Alpharetta has many of these quantifiable traits that allow the city to stand on its own and almost without support of the larger Metro area.

Here are the top 10 reasons why Alpharetta should be high on your list for places to live:

1. The local economy - The local economy is very strong with many fortune 500 companies and job opportunities are readily available. These corporations provide an tremendous boost to the tax revenues afforded the city.

2. Tax revenue - Due to the large employment center located off of Windward Parkway, Alpharetta runs a budget surplus and reinvests in the community. This tax revenue combined with fiscally responsible politicians has given them a AAA bond rating.

3. Emergency services - The emergency services department has an ISO rating of 2 which substantially reduces homeowners insurance costs thereby saving residents money. Only one other municipality in Metro Atlanta is rated as high.

4. Excellent School - The public education system regularly wins awards from elementary through high school and both high schools are among the 15 best in the state.

5. Low Crime - The crime rate is lower than Metro Atlanta, Georgia and the nation as a whole.

6. Cultural Activities, Shopping and Dining - This is where Alpharetta shines as a suburb compared with surrounding areas. The summer of 2008 will bring the opening of the much anticipated Encore Park followed by Prospect Park shortly thereafter. Combined with great dining and already excellent retail shopping, there is little left in the whole Metro area that can't be found in Alpharetta.

7. Cost of Housing - When compared with other Metro Atlanta cities with similar amenities, employment and activities, homes for sale in Alpharetta are often larger and newer so for many, their money spent gets them into a nicer, newer home.

Together, these reasons effectively propel the suburb of Alpharetta to a position where it relies very little on the Greater Atlanta area of which it is a part. Be it for education, crime, employment or cultural activities, everyone can find something in Alpharetta.

Ryan Ward of the Ryan Ward Real Estate Group is a member of the national, state and local REALTOR associations, and resident of Alpharetta, Georgia who specializes in listing and selling real estate in Atlanta. For more information about Ryan Ward and Atlanta homes,visit his Alpharetta Real Estate website or call 404-630-3187.