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Excalibur Home Management Blog

2013 In Review: How long does it take to rent a house in Metro Atlanta?

Mike Nelson - Sunday, January 5, 2014


In real estate (and especially in property management), we measure "days on market." 


Or... DOM, market time, time on market, etc... 


Whatever you call it, days on market measures the effective 'age' of a real estate or rental listing. For the most part, properties with a very high DOM tend to command lower prices compared to properties with a lower DOM value.


This statistic can be very useful when gauging the temperature of a local housing market.


When reviewing market data from 2013, Excalibur Home Management had lower average days on market than agents using FMLS (First Multiple Listing Service, a local MLS).


Excalibur manages homes in Barrow, Cherokee, Cobb, DeKalb, Douglas, Forsyth, Fulton, Gwinnett, Hall, Henry, and Walton County; an area that covers all of Metro Atlanta.


While pulling data from these counties, we focused on homes that rented between $800-$2000, had 3+ bedrooms, and 2+ bathrooms.


So, the question remains: How long does it take to rent a house?


Well, for Excalibur (in 2013), it took an average of 43 days.


For the rest of the agents using FMLS, it took an average of 46 days.


Find out why landlords choose Excalibur Home Management for all of their leasing and management needs.


How to Successfully Rent Your House

Mike Nelson - Friday, January 3, 2014


Atlanta is #6 on List of Top Markets for Rental Home Investments

Mike Nelson - Sunday, December 29, 2013


According to data compiled by BizJournals.com from HomeVestors and Local Market Monitor, Atlanta is the 6th best market in the country in terms of single-family rental home investments. 


Aside from low home prices, Atlanta is also seeing growth in population as well as lower paying jobs.


Ingo Winzer, president and founder of Local Market Monitor, said in a statement released by the company, "These markets also have strong home price appreciation, but are still underpriced by as much as 28 percent."


Click here for the full article from BizJournals.com


Find out why landlords choose Excalibur Home Management, LLC.


Or, search Atlanta homes for sale with Excalibur Realty, LLC.

Atlanta Home Price Gain is Well Over National Average

Mike Nelson - Monday, November 25, 2013

Atlanta Housing Prices October 2013


Looking at this graph, there is definitely a strong tie between the stock market and housing. So does that mean that since the stock prices have exceeded 2007 numbers, housing should be hitting 2007 numbers soon?  


According to the S&P/Case-Shiller Index, Atlanta home prices are up 18.7% from a year ago and the National Average is up 11.2%.  Here is more information...


https://www.spice-indices.com/idpfiles/spice-assets/resources/public/documents/64929_cshomeprice-release-1126.pdf?force_download=true

Next Generation: Renters or Buyers?

Mike Nelson - Sunday, November 10, 2013
Very interesting report on home ownership and the next generation....are they going to buyers or renters? 

Why Use a Professional Property Management Company?

Mike Nelson - Wednesday, October 30, 2013
A fantastic illustration by www.allpropertymanagement.com as to why it is important to use a "Local" Professional Property Management Company.

Atlanta Has Nation's Most Affordable Housing

Mike Nelson - Monday, October 28, 2013

 

According to the Interest.com study, Atlanta has the most affordable housing when you compare the median housing price to the median household income.  They then assigned an affordability grade, with a C indicating that someone making the median income can afford the median-priced home. Atlanta was a B+ (no other city received a higher grade).  Here is the article if you would like to read more, http://www.interest.com/mortgage/news/big-city-housing-less-affordable

Want to Know How to Keep Your Vacancy Rate Down?

Mike Nelson - Thursday, September 26, 2013


ANSWER:


Hire a professional management company.  


At least that is what the statistics say.  According to the article posted by AllPropertyManagement.com.  According to the article, "Based on responses from 298 property management companies located in 201 cities across the US, the average annual vacancy rate for a professionally managed property is 5.5 percent, compared to the 8.8 percent national average reported by the US Census Bureau. Respondents cited expert tenant screening, superior customer care during tenancy, swift action against delinquent tenants, and general local market knowledge as reasons for their success in preventing long vacancies."  Lower vacancy means more income.  By keeping a tenant in the property longer you are delaying the cost of turnkey, time vacant and the cost of leasing.  


Here is a link to the article, http://www.allpropertymanagement.com/about/press-room/release/all-property-management-survey-show-professional-property-managers-reduce-rental-vacancy-rates-nearly-40-percent/


Post by John Durham

Zillow Shows Metro Atlanta Rents Peaked in April 2013

Mike Nelson - Wednesday, September 4, 2013
Atlanta Metro Zillow Rent Index

 

 

Here is some interesting data from Zillow in regards to the median rent for 3 BDRs over the last 2 years and then over the last year.  Compared to the Metro Atlanta area, Fulton, Cherokee, Gwinnett, and Forsyth Counties are anywhere from $100-$300 above the median rent in Metro Atlanta.  The peak for 2013 seems to have been in April. 

 

 

Atlanta Metro Zillow Rent Index
Statistical information provided by Zillow 9/5/13

Attention TENANTS: Is This the Right Time to BUY?

Mike Nelson - Tuesday, August 7, 2012

Came across this interesting article in the LA Times.  Is it the right time for tenants to start buying?  Maybe you are interested in buying the property you are currently in? 

Click on the link below to read the article.

http://www.latimes.com/business/realestate/la-fi-rent-or-own-20120802,0,6114437.story


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Excalibur Homes
2855 Marconi Dr, Suite 310
Alpharetta GA 30005
678-825-0500 Fax:(678) 825-1401