2008 Year-In-Review

Statistics don't lie ... 2008 wasn't pretty for real estate, and Athens Realtors were not spared. My personal production was not off much, but the overall sales statistics are tough to swallow (See chart above for residential sales production. Statistics taken from Athens, GA MLS and include Clarke and all surrounding counties).

I broke down the numbers by price range, but the total figures are staggering ... 3605 total sales in for just over $666 million in 2007 ... only 2451 sales for approximately $452 million in 2008. That's a 30+ percent drop in number of units sold and gross volume sold.

Let's all wish for a Happier New Year in 2009 (-:

What is an EMC?

If you've ever owned real estate in Athens, GA or the surrounding areas, you're probably familiar with companies like Walton EMC and Jackson EMC. But, do you really know the difference between an EMC and other companies, such as Georgia Power?

EMC stands for Electric Membership Corporation ... these are not-for-profit utility service providers that are operated as a cooperative, owned by those that receive their services. The "profits" made by these companies are returned to the customers as capital credits (I just rec'd one for $15 from Walton EMC last month at my personal home).

The service provided by EMC's is comparable to that offered by larger privately-owned firms, although the coverage areas are often limited to particular regions.

If you're considering buying or selling Athens, GA real estate and want to know what utility providers are available at a particular address, please let me know - I'll gladly email you back a detailed list.

Happy New Year!

One of my new year's resolution is to read more ... not very exciting, huh? I just came the realization that I spend too much time in front of a computer and mind-numbing TV, so I'm actually going to pick up a few books this year.
The first book I'm reading is "The Seven Habits of Highly Successful People". The author suggests that we read the book as if we had to teach a lesson on it after each chapter, so I'll share some tid-bits that I find interesting here on my blog.
The first habit taught is "Be Proactive". Basically, don't let your atmosphere control you, but rather take control of your own decisions and actions. The author highlights a fundamental belief of mine that "our behavior is a function of our decisions, not out conditions" and that we should be proactive, not reactive, in life and in business.
In the new year, I'll apply this principle to my real estate business by not using the soft market as an excuse for failure. Instead, my goal is to focus on what I can control and make 2009 a year to remember!

What Real Estate Ads Really Mean ...

As someone who writes most of my own ads, I found the following description of commonly-used marketing terms pretty funny ... the next time you're looking through the classifieds, refer to the following to determine what agents are really saying ...

CHARMING - Tiny. Snow White might fit, but five of the dwarfs would have to find their own place. Same for "Cute," "Enchanting," and "Good Starter Home."
MUCH POTENTIAL - Grim. Steer clear unless you have a lot of money. See "Ready to Rehab," and "Fixer Upper."
UNIQUE CITY HOME - Used to be a warehouse.
HI-TECH/CONTEMPORARY - Lots of steel shelving with little holes - the kind your dad used to store tools on in the basement.
DARING DESIGN - Still a warehouse.
COMPLETELY UPDATED - Avocado dishwasher and harvest gold carpeting or vice versa. SOPHISTICATED - Black walls and no windows. See "Architect's Delight."
ONE-OF-A-KIND - Ugly as sin. One-of-a-kind because nobody else wanted one
BRILLIANT CONCEPT - Do you really need a two-story live oak in your 30-foot sky dome? See "Makes Dramatic Statement."
YOU'LL LOVE IT - No, you won't.
MUST SEE TO BELIEVE - An absolutely accurate statement.

Holiday Open House & Food/Toy Drive

Mortgage Rates at Lowest Point of 2008

Mortgage rates have dropped again today. They are at the lowest they have been all year. In January when rates dropped to 5.25% it only lasted for 4 hours. We are currently lower than that!

In a market where selling is not easy, it's important to have the best long-term rates possible on your financing, because you may be there awhile (-:

Seriously, if you'd like to know what your payments would be at today's rates, please call me asap, and I'll put you in touch with a trusted lender.