Morgans Crossing Subdivision Home Values in Buford, GA Are Spiking!

By
Real Estate Agent with Rich Life Real Estate Team GA#242237

Morgans Crossing Subdivision Home Values in Buford, GA Are Spiking!

Morgans Crossing Subdivision Entrance


Currently there are NO homes listed for sale in Morgans Crossing Subdivision, which is a really good sign of neighborhood stability and desirability.  There are no distressed sales, and not even a single sign saying, "Coming Soon!"  Now if you live in Morgans Crossing Subdivision, you may be scratching your head thinking, "Wait just a minute, I saw one house for sale!"  

Two weeks ago, you would have been right, but on about September 6, 2013 that one house on Lake Seminole Drive went Under Contract!  While we don't know what the contract price is, we do know that the home was listed for $348,000 August 10, 2013 and then quickly reduced to $318,000 twelve days later!  It went Under Contract in thirteen days at a price we won't know until closing.  This illustrates that Morgans Crossing Subdivision Home Values in Buford, GA Are Spiking! Let's go back to 2008 and see trends to the present!

2008 Market Data - 4 Sales 25% Foreclosure Sales (Per GAMLS)

For the whole year of 2008 Morgans Crossing Home Values listed from $279,900 - $329,900.

  1. A 4 bedroom 2 and a half bath 2,640 sq ft home foreclosed home with granite, but needing paint, new carpet and bathroom updates selling just $400 off full list price at $279,500 April 3 of 2008 in only 23 days.  
  2. A 4 bedroom 3 and a half bath 2,642 sq ft home with granite counter tops and stainles appliances selling April 11 of 2008 for $303,000 which was $7,000 discount off of the $310,000 list price.  Both of these first two homes were on .59 acres.
  3. A 5 bedroom 3 and a half bath 3,022 sq ft ranch listed for $299,900 had sold for $280,000, a $19,900 discount which from pictures one would assume was due to needing paint, kitchen and bath updates? It closed March 5, 2008 after 57 days on the market.
  4. Also in March of 2008 another 5 bedroom 3 bath 3,327 sq foot two story home with a partially finished basement sold in 24 days at $315,500 after being on the market at $329,900.  It needed carpet, paint, kitchen and bathroom updates.

2009 Market Data - 6 Sales 50% Foreclosure Sales (Per GAMLS)

In 2009 Morgans Crossing Subdivision saw Dramatic falloff in both list price and sales prices with list prices of $199,900 - $330,000 and sales prices of $182,000 - $287,000.  The homes on average took 90 days to sell compared to 23-57 for such a popular neighborhood the year before.  The longest took 190 days and the one that sold in 31 sold for $195,500 which explained it's quick sale.

The first home didn't sell until June for $182,000 well short of the $199,900 asking price.  It was a 6/4.5 3,508 sq ft two story home with a finished basement on .6 acre and was a Fannie Mae foreclosure, needing paint, carpet, kitchen and bath updates.

The next home sold in August at $287,000 after being listed at $299,900 ($12,000 discount). This home was in excellent condition and was a 4 bedroom 3 and a half bath two story on a basement with 2,465 sq ft according to tax records. Traditional sale.

In October another home in Morgans Crossing Subdivision sold for $195,500, $4,000 less than list price.  It had 4 bedrooms 2 and a half bathrooms 2,734 sq ft per tax records and was on .59 acre.  It was a 2 story on a slab and needed paint, carpet, kitchen and bathroom updates.  It was a Fannie Mae Foreclosure.

In November a two story home on a basement 5 bedrooms 3 and a half baths 3,176 sq ft, on .73 acre (per tax record) sold for $190,000 ($34,900 discount) after being on the market for 86 days.  This was a far cry from the $224,900 they were asking but it was a HSBC bank Foreclosure and the home needed paint, carpet, kitchen and bathroom updating.

Still in November a two story home on a crawl space with 4 bedrooms 2 and a half bathrooms 2,878 sq ft on .69 acre (per tax record) sold for $257,500 after being on the market at  $275,500 ($18,000 discount).  This home was a private seller and had granite counters, a gourmet kitchen, stainless appliances, new carpet and paint and was a designers dream.

Supported by this previous sale our next home sold for $280,000 after being on the market 190 days with a starting price of $330,000.  This two story home on a finished basement had 5 bedrooms 2 and a half baths and was 4,363 sq feet on .63 acre (per tax records).  It was in very nice condition with granite counter tops, and tile backsplashes, but with original appliances and in need of paint and carpet.  The home was a private sale.

Here is a link to the Morgans Crossing Subdivision Coventants, which really make this community nice!

2010 Market Data - 9 Sales,  4 Foreclosures 44% Foreclosures (Per GAMLS)

In 2010 Morgans Crossing Subdivision saw Dramatic falloff in both list price and sales prices with list prices of $199,900 - $330,000 and sales prices of $182,000 - $287,000.  The homes on average took 90 days to sell compared to 23-57 for such a popular neighborhood the year before.  This was an average of 87 days to sell. The longest took 281 days and the ones that sold in 7 & 8 days sold for $195,500 and $181,000 which explained their quick sales.

  1. Our First Sale in March was 2 story home on a full finished basement in March for $174,900 but it took 115 days to move and 6 Bedrooms 3 and a half baths and 3,940 sq feet on .95 acres (per tax records).  It was a Foreclosure and needed new paint inside and out, new flooring throughout, kitchen and bathroom updates, appliances and more.
  2. In April a 2 story home on a finished basement with 5 bedroom 4 and a half bath 2,736 sq ft on .69 acre (per tax record) sold for $240,000 after being on the market at $279,999 it took 77 days and was discounted $39,999!
  3. In May a new low was hit as a 2,136 sq ft 2 story home on a partially finished basement on .83 acres (per tax record) sold in 14 days for $149,900.  It was a Freddie Mac Foreclosure and needed a new roof, new garage door, new interior and exterior paint, new flooring and kitchen and bathroom updates.
  4. June brought two quick sales one 2 story home on partially finished basement with 4 bedrooms 2 and a half baths and 3,463 sq ft and .59 acres (per tax record). This home was a foreclosure and sold for $195,000 after being on the market 8 days at $180,000.  It needed everything, new paint, flooring, lighting, appliances, kitchen and bathroom updates and more.
  5. Next sale was a Forclosure listed at $198,500 and selling for $181,000 ($17,500 discount) was a 4 bedroom 3 and a half bath two story home on a partially finished basement with 2,451 sq ft on .59 acre (per tax record).  It needed to have the hardwood floors refinished, new carpet and paint, kitchen and bathroom updates, needed new interior and exterior paint.  It sold in 7 days.
  6. July brought another private sale at full asking price of $275,000 on a two story 4 bedroom 2 and a half bath home with an unfinished basement being 2,765 sq ft and 1.05 acre (per tax record).  The home had granite countertops, updated ceramic tile backsplashes and looked like a designer home.  This home took 281 days to sell!
  7. September brought the sale of a 2 story on a partially finished basement 5 bedroom 3 and a half bath home with 2,094 sq ft and .59 acre (per tax record).  This home was in very nice condition, but had the original countertops, original builder grade backsplash, original appliances, and needed some paint inside and exterior.  It had a fabulous fenced yard and was a private sale at $205,000 just $4,000 short of the $209,000 list price.  This home sold in 26 days.
  8. In November a 5 bedroom 4 and a half bath 2 story home on a finished basement with 2,358 sq ft and .59 acre (per tax record) sold for $265,000 after being on the market at $279,900 a discount of ($14,900).  This home was a traditional sale and had very nice paint, hardwood floors in good condition, and granite countertops.  The home looked designer but did have original kitchen cabinets and bathroom had not been updated.  It did have stainless steel appliances. This home sold in 55 days.
  9. Also closing in November for $252,000 after being on the market for $274,900 was a 5 bedroom 3 and a half bath ranch on a full finished basement with 4,608 sq ft on .6 acre (per tax record).  This home was not a foreclosure and was in good condition, but there were not any pictures in the MLS.  This home took 158 days to sell.

2011 Market Data - 7 Sales 2 Foreclosures 29% Foreclosure Sales

Of the 249 homes in Morgans Crossing Subdivision 7 sold in 2011.  The sales ranged from $191,400 - $270,000 and  took from 14 days to 537 days to sell, for an average of 155 days to sell!  The average home sale was $215,139.

  1. In April after 537 days on market a 5 bedroom 5 and a half bath 4,898 sq ft, 2 story home on a finished basement on .75 acre (per tax record) sold for $219,000 after asking $244,000 ($25,000 discount).  The home was in pretty good condition with granite, stainless appliances and original oak cabinets.  This was a private sale.
  2. In May a home that was listed for $199,900 sold for $205,000 in only 14 days.  It was a 4 bedroom 2 and a half bath 2,575 sq ft home on .63 acres (per tax record) and was a private sale.  The home was in fabulous designer condition with granite countertops, new black appliances, refinished white cabinets and designer colors.  The home appears to be on a slab, and was a private sale.
  3. In June a home listed at $195,000 sold for $197,575 and it was a 4 bedroom 3 and a half bath home 3,986 sq ft, on .72 acre (per tax record).  It was a private sale, and no pictures were available.  The sale took 83 days.
  4. In August a $196,400 listing sold for $191,400 after being on the market for 33 days.  It was a 2 story 4 bedroom 2 and a half bath home with 2,734 sq ft on .59 acre.  There were no pictures available and the sale was a Fannie Mae Foreclosure according to tax records.
  5. In September a $299,900 listing sold for $270,000 ($29,900 discount) after being on the market for 260 days.  The home was a 2 story home on a full partially finished basement with 4 bedroom 3 and a half baths and 3,478 sq ft on 1.77 acres.  This was a private sale.
  6. In October a $231,500 listing sold for $213,000 after being on the market 87 days.  It was a 2 story 4 bedroom 3 and a half bath home with a finished basement (at least partially).  The property had granite countertops, nice hardwood floors and probably needed some carpet and paint, had original appliances and needed a roof,  but did have updated tile backsplashes.  It was a traditional sale.
  7. In December listed at $209,900 and getting $210,000 a a 4 bedroom 3 and a half bath with 3,129 sq ft on .69 acre (per tax record) after 75 days on market.  It was a ranch on a full basement.  It was a Fannie Mae Foreclosure without any pictures, but we can assume it needed some work.

2012 Market Data - 6 Sales 4 foreclosures 67% Foreclosure Sales


In 2012 the foreclosure rate in Morgans Crossing Subdivision hit 67% of the sales, with sales ranging from $130,299 -$220,000.  While the average time on market was only 56 days, this wasn't a consolation with the prices dipping to $186,883 average sale price.

  1. In January a 4 bedroom 2 and a half bath home on an unfinished basement listed for $189,900 sold for $187,000 after 67 days on market.  It had 3,096 sq ft and was on .63 acre (per tax record) and was a Fannie Mae Foreclosure.  The home needed kitchen and bathroom updates, paint and some flooring as well as other repairs.
  2. In February Morgans Crossing Subdivision had another sale, a 4 bedroom 3 and a half bath home that was 3,041 sq ft on .59 acre (per tax record).  It was a two story home on a full basement and was a private sale that took 93 days.  It needed paint, carpet and kitchen and bathroom updates and sold for $214,000 after being on the market for $272,000.
  3. In March a 5 bedroom 4 and a half bath 2 story home sold for $215,000 after being on market for $222,000 ($7,000 discount) after 42 days on market.  It had 4,027 sq ft and on .59 acre (per tax record), and it was a Foreclosure sale. The home had nice paint, hardwood floors in good condition, with granite countertops and stone tile backspashes and stainless steel appliances.
  4. In October a $219,900 home sold for $220,000 after being on the market 60 days on market.  It was 3,647 sq ft on .69 acre (per tax record) and was a Fannie Mae Foreclosure.  The home wasa two story home on a basement and had 4 bedrooms and 3 baths.  The house had very nice paint, custom moldings, granite countertop, and the carpet was in good condition.  Really it was move in ready.
  5. In November a  home listed for a historically low $130,000 and sold for $130,299.  It was a a 4 bedroom 2 and a half bath home that sold in 6 days.  It had 2,466 sq ft and .6 of an acre (per tax records).  The home was a foreclosure sale and appeared to be on a slab from the one picture we saw.
  6. Also in November another home that was listed for $155,000 sold for $160,500 after being on the market for 67 days.  This home was 4,193 sq ft and was on .59 acre.  It had 4 bedrooms 3 and a half baths and needed interior and exterior paint, new flooring, kitchen and bathroom updates and more.  It was a foreclosure.

2013 Market Data - 4 Sales, 1 Estate Sale, 1 Pending Sale

 Thus far in 2014 Morgans Crossing Subdivision Home Values in Buford, GA Are Spiking!  The average sale this year is $240,000, but that includes an outlier in an estate sale that needed much work.  A pending sale that may be close to $318,000 and generally higher sales form $221,000 - $269,000 show that Morgans Crossing Subdivision Home Values in Buford, GA are Spiking!

  1. In January an Estate Sale that had been on the market for $175,000 sold for $140,000 but it needed a lot of work.  It was a 2 story 4 bedroom 2 and a half bath home on a full unfinished basement with 2,361 sq ft on .71 acre (per tax record).  It sold after 16 days on market
  2. In April a home that was on the market for $275,000 sold for $255,000 after 20 days on market.  It was a 3 bedroom 3 bath ranch home on a finished basement with 2,437 sq ft on .59 acre (per tax record).  The home was in very good condition and was a private sale.
  3. Also in April a home that had been on the market for $229,999 sold for $221,000 after only 8 days on market.  It was a 4 bedroom 2 and a half bath home with 2,514 sq feet on .6 acre and had been a flip from the previous year when it was bought for $130,000 per tax record. 
  4. In June a home that had been on the market for $285,000 sold for $269,000 in 16 days.  It was a 5 bedroom 4 bath home that was 4,542 sq ft on .86 acre (per tax record).  It had full basement much of which was finished and was in very nice condition with nice carpet, good paint and stainless steel appliances. The kitchen did not have granite, but this private sale was in very nice shape!
  5. Pending at the moment is 6 bedroom 3 and a half bath home with a full basement.  It is a beautiful home that shows what can happen if you renovate to a high level!  Fully renovated with new paint, flooring, granite countertops and updated kitchen, gleaming hardwood floors, new lighting, and fabulously staged, this sale went pending in 26 days after being reduced from $348,000 to $318,000.  This property sold for $288,000 on September 30, 2013 after 28 days.
  6. On October 6 Morgans Crossing Subdivision in Buford, GA a newly listed home went on the market at $269,000.  It is a 3,734 square foot home per tax records with 4 bedroom 2 and a half bath home on a finished basement with granite counter tops, stainless steel appliances, new paint, nicely refinished hardwood floors and fresh interior paint.  The bathrooms have not been updated, but the home is in very nice condition!
  7. On October 14, 2013 a 5 bedroom 4 and a half bath home was listed in Morgan's Crossing Subdivision in Buford GA.  It is 4,546 square feet according to the tax records and has a fenced yard, finished basement and in ground pool.  

 

 Please Call Jared Garfield at 404-718-9126 or email me at Jared@richliferealestate.com.  I live in Morgans Crossing Subdivision in Buford, GA, so I know the neighborhood very well and would love to assist you!  Please feel free to visit my website at www.richliferealestateteam.com to search more homes in Buford, GA.

 

Comments (9)

Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

Hi Jared,

You are most definitely the expert for Morgans Crossing Subdivision. Buyers looking to relocate should contact Jared Garfield for the utmost representation.

Sep 22, 2013 12:12 PM
Jared Garfield
Rich Life Real Estate Team - Buford, GA
Invest With The Best For The Highest Returns!

Sarah and Lester,

 

Thank you for your kind words.  I love this subdivision, with it's huge lots and mature trees!  It is really close to I 985 at Friendship Rd and I 85 at Hamilton Mill Rd!  A great neighborhood to raise a family in!

Sep 22, 2013 12:26 PM
Katerina Gasset
Get It Done For Me Virtual Services - Wellington, FL
Get It Done For Me Virtual Services
Hello Jared, informative post that discusses  Morgans Crossing Subdivision Home Values in Buford, GA Are Spiking!. Hope to hear many more informative articles like this in the future. Keep it up!
Sep 24, 2013 03:03 PM
Melissa Muse Wiggans
Real Estate Muses - San Antonio, TX
CRS, GRI, ABR - Real Estate Muses
Very good presentation Jared. I'm sure this won't last long in the market. Best of luck!
Oct 24, 2013 08:59 PM
Jared Garfield
Rich Life Real Estate Team - Buford, GA
Invest With The Best For The Highest Returns!

Nestor and Katerina, 

 

Thank you so much, I appreciate the kind feedback!

Oct 25, 2013 04:48 AM
Jared Garfield
Rich Life Real Estate Team - Buford, GA
Invest With The Best For The Highest Returns!

Melissa, 

Thank you, this market is moving very fast indeed, but I hear things are going very well in Texas too!

Oct 25, 2013 04:49 AM
Waynette Hoover Araj
Keller Williams Realty - Asheboro, NC
Connecting your Dreams with the Right Real Estate
Very good presentation Jared. Wishing you all the best in this Morgans Crossing Subdivision. Keep it up and stay the best!
Oct 30, 2013 02:19 PM
Barbara Gregus
CARES Consumer Advantage Real Estate Services - Sandia Park, NM
Sandia Park Paa-ko Homes
Awesome share Jared. This is very informative and will surely prove helpful to home buyers out there. All the best!
Nov 03, 2013 06:08 PM
Petra Norris
Lakeland Real Estate Group, Inc. - Lakeland, FL
Realtor, Lakeland FL Homes for Sale
 I'm sure this won't last long in the market. Best of luck!
Nov 25, 2013 09:31 AM

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