This is the latest report that I wrote for the Sugarloaf Women's Club Newsletter.  It contains the latest facts and overview for Sugarloaf Country Club real estate.   

The housing market in Sugarloaf has experienced significant changes during the first half of 2008.  Since most news headlines focus on the national market, estimating local home values can be confusing for both sellers and buyers. For a detailed perspective on the National market as well the Metro Atlanta market, please view AtlantaRealEstate2008.com. This video report features our very own neighbor, Dan Forsman (President & CEO, Prudential Georgia), David Cook (President, Equity Depot - publisher of the Atlanta Foreclosure Report) and David Ellis (EVP, Greater Atlanta Homebuilders Association).

Real estate conditions and trends vary by market.  Here are the facts for Sugarloaf Country Club:

2008 Sugarloaf Country Club Real Estate Facts

•   36 properties have sold in 2008.   This compares to 43 sold in 2007 and 51 sold in 2006 YTD. 

•  7 were new homes, 16 were standard resales, 8 were bank-owned and 5 were company-owned. 

•   140 properties are currently for sale in Sugarloaf. In 2006, there was an average of 68 for sale.  In 2007, the average for sale was 85.   

•   In 2008, 18 foreclosures have been scheduled for auction or have become bank-owned.  13 are currently active.     

Sugarloaf Country Club Home Values

•   Nationally, home values are down around 15%.  Metro Atlanta home values are down around 8%.  Sugarloaf home values have not been immune to declines.  In June, the original list price to sales price ratio was 86%.  Buyers are looking for great deals and finding them. 

 Trends That Affect Sugarloaf Country Club Home Values

•   Sugarloaf has supply that exceeds the current levels of demand.  Serious sellers are getting very aggressive on pricing and incentives to stand out from the competition.  This is especially true for bank-owned and company-owned properties as they try to shed real estate assets.       

•   Many potential buyers have existing properties that they cannot sell.  Some cannot qualify for mortgages today versus the relaxed rules of the past.  Others are frozen by negative headlines.     

So What Does This Mean?

Sugarloaf is a fantastic community and the long-term trends are bright.  Right now, our real estate values are feeling the combined effects of the national real estate market, high gas prices and other economic factors, the banking and mortgage crisis, and the natural life cycle of a developing community.  Despite these short-term obstacles, the SCC community has many positive and promising attributes.  Our TPC golf course is world class - not to mention the professionals who run top-notch programs. Our public and private schools provide excellent academic, sports, and extracurricular programs for students at every level.  Our quick access to  I-85 is an advantage compared to other luxury communities that are land-locked from major traffic routes. The Gwinnett Center, the Gwinnett Arena, and now the Gwinnett Braves provide many cultural and entertainment opportunities. Retail choices continue to grow and expand.  Sugarloaf Country Club offers resort living at its finest.  Our strong community will stand the test of time and is poised to thrive in the future.     

 *  Statistics from FMLS, TrendGraphics, SmartNumbers, Case-Shiller Index, First American, OFHEO, Realty Trac and Equity Depot.  Information deemed reliable but not warranted.