Many of you know that I have the honor to be the President of the Chateau Elan Networking Elites BNI group that features 40 top CEOs from the North Gwinnett, Hall, Jackson and Barrow County Region.  I’ve enjoyed my group and networking so much, that I must share with you something that will blow you away.

BlitzTime is a new service that allows you to network with people in a "speed networking" (taken from speed dating) format.  You call in and after a brief introduction you will be taken to 1 on 1 sessions over the phone with your networkers.  BlitzTime takes the best of open networking in groups like BNI or PowerCore and puts it all in the power of your phone.  Meaning you don’t have to drive 30 minutes for a 2 hour event and pay for lunch. No, you get to call in, in your pajamas if you want and build business connections.

I’m hosting an event for Atlanta, and if you are reading this and have a business, I’d love for you to join me.

Atlanta Speed Networking Event on January 6th @ 1PM

Unless you live in a cave, you’ve likely heard the news about Lehman Brothers.  Other famous names are being thrown around as well in, as Truliablog put it, “a sad game of who’s next.”

Well what’s it mean to metro Atlanta.  Truth be told, it’s way too early to tell but if there’s any indication here’s some thoughts on it. 

MORE SALES FOR GEORGIA

New York, one of the big three of places that have people relocating to Georgia, will see an increase in listing inventory.  New York’s market, especially the higher end market, is one that has been, well, bullish.  For a niche of America, it’s a big one.  However, with 10,000 jobs going away, people will be looking to regroup and maybe relocate.  Atlanta is on their list.  Not only can they find employment, but they will likely not have to give up their lifestyle that they are accustomed to in New York.  So this is a bad thing for them but a good thing for us. Assuming this happens. 

It’s like my Grandma says, “It’s a backward blessin’” for those folks.  They’ll get a lower cost of living and a new start out of something that’s pretty devastating.   Of course, this is from my perspective that Georgia is the best place to live.

The impact will send some shockwaves, but my personal opinion, much like the stock market, is that it’s overall impact will be minimal.  The real estate market is already seeing the light at the end of the tunnel so it’s not too hard to imagine a few more shoes dropping before we pull back out. 

Better get in on the good deals while you can.

Let’s first look at Atlanta Homes that Sold In January & February (Just Single Family Detached)

* Worst Year this Millennium? 2000 - With barely 2,000 homes sold in Jan 00, and almost 3,000 in Feb 00
* Best Year this Millennium? 2006 & 2007 ?!?!? - Yep, those are the numbers, Both years started at just under 4,000 homes sold in Atlanta, to just over 5,000 for Feb. of those months.
* How About 08? Jan 08 saw about 2,500 Atlanta Homes sold, while Feb saw about 3,000 homes sold in Atlanta.

OK, so home sales are not that bad, but what about prices? Prices are down 10% according to CNN. So again all the single family detached homes in Metro Atlanta are put out there for the millennium comparison.

What is the average sales price in Atlanta. Drum Roll!!!

* Worst First Quarter Year of this Millennium? 2000 - DUH! With an average of $195K.
* Best Year? I’m tempted to put a spoiler alert here, but you might have guessed…. 2007 was the best year ever for average sales price of an Atlantan home. At about $252K, you’d likely have some equity if you bought in Metro Atlanta.
* So how are we doing? We’re down. In 2008, we have about a 4% decrease from last year to $235K.

One thing the media did get right this year is Days On Market, let’s take a look. Again, we’re only looking at the first quarter (minus March) for the millennium.

* Worst Year - 2008 - Just over 100 days on market.
* Best Year - 2000 - With about 65 Days on market for homes in Atlanta.

So at the end of the day, are we in a buye’s market?, Yes. Are we in a bad market? No. It’s a great time to move up and a great time to buy as always.

What’s especially nice is that the high octane Realtors out there are getting a lot more business because it takes more than just a sign and the MLS to sell a home!

Till nextime….