Outdoor Living Landscape Trends Garden to Table The New Aristocracy What You Can Buy for $600K Market Update
THE BUCKHEAD OFFICE
A P R I L / M A Y
2 0 1 8
Presented by Debbe Ezzell & Sister Hood
TABLE OF CONTENTS Outdoor Living Landscape Trends Garden to Table The New Aristocracy What You Can Buy for $600K Market Update Impact of Tax Reform
OUTD O OR LIVING T R E N D S
F O R
by Summer Classics
Presented by Kelly Boudreau & Associates
2 0 1 8
“Outdoor living now means a lot more than a few lounge chairs scattered on a brick patio or some rocking chairs lined up across your front porch,” says Zoe Gowen, Senior Home Editor for Southern Living. “People are embracing the idea of outdoor ‘rooms.’ They want the same amount of comfort and convenience from their porches and decks as they do their living rooms. Smart homeowners realize that a porch addition is a lower cost way to extend the square footage of your home. And, it’s also a lot more fun to be outside.” Here are 5 design ideas that are great outdoor living trends for 2018.
Presented by Erin Yabroudy & Associates
LIVING ROOM-WORTHY OUTDOOR FURNITURE
The first step to creating a comfortable outdoor living space is furnishing it with comfortable and attractive furniture. “It’s really hard to enjoy yourself when you’re afraid that the weather-beaten wicker chair beneath you may crumble at any minute,” says Gowen. Luckily, there are tons of options out there. Because of advances in furniture and fabric technology, it’s possible to have fully upholstered furniture outside. It’s also nice to combine different kinds of furniture to get a collected look just like you would in your living room.
COLORFUL FABRICS
The renewed focus on high quality outdoor furniture has also boosted the selections and combinations of outdoor fabrics that homeowners and designers are using. “Personally, I prefer strong colors outside. For me, it’s anything goes as long as it matches green! There are magenta cushions piped with deep teal on my own porch that were inspired by a Tom Scheerer outdoor space that I loved.” If purple is too bold, consider navies, browns, or charcoals as neutrals, but lighten the palette with contrasting, patterned pillows. Just like an indoor sofa, you’ll want to layer on two pairs of matching patterned pillows in complementary prints. “Stripes and geometrics are almost foolproof to blend,” says Gowen.
SMOOTH AND FASHIONABLE FLOORING
“Outdoor spaces are shoe-free zones,” says Gowen. “A splinter can really ruin your night.” After you’ve assessed the shape of your floors, treat them as another design feature. Since the walls and railings will need to match your exterior, paint the floor to give your porch the polish of a room (and extend the life of your decking). White is a no-brainer that makes rooms look bigger. Stripes or a classic checkerboard pattern are timeless options too. “When painted floors get dirty, just paint them again,” Gowen recommends. “There’s also a great company, Mirth Studio, in Charleston that makes patterned floor tiles.” Outdoor floor rugs also bring a space together.
FIRE FEATURES
Whether located on a porch or outside on a patio, there are few features as dreamy as an outdoor fireplace. “They are natural gathering spots that pull in people and they extend the amount of time that you can be outside,” says Gowen. “Hang art or a TV above them just like you would inside.” While a fireplace may be too permanent for many, there are also handsome fire pits that serve the same purpose.
MODERN CEILING FANS
“The classic look of a Hunter ceiling fan never gets old, but powerful Haiku Fans have made sitting outside in July and August an enjoyable reality,” says Gowen. The new fan company has also introduced a surge of untraditional ceiling fan shapes to the market. “I spotted this all-wood fan at a restaurant. It has a sleek and organic quality to it,” says Gowen.
Presented by Amy Bubes & Larke Wheeler
LANDSCAPE
T R E N D S
F O R
2 0 1 8
by Building Design + Construction
The National Association of Landscape Professionals(NALP) announces its official list of the top landscape trends of 2018. As the voice of the multibillion-dollar lawn and landscape industry, NALP annually forecasts trends that will impact landscape planning, design and maintenance within the coming year. “The top 2018 landscape trends reflect an evolution of the outdoor living trend we’ve seen grow in popularity over the past few years,” says Missy Henriksen, vice president of public affairs, NALP. “Stimulated by a healthy economy, homeowners and property managers are innovating their landscapes in fun, new ways. Recognizing the tremendous value that beautiful and functional landscapes bring to homes and commercial properties, today’s landscapes are built to last so they can be used and enjoyed through all the seasons, year after year.” In 2018, NALP predicts the following five trends to influence landscape planning and design:
Presented by Cathy Boston
Presented by Price Curtis
EXPERIENTIAL LANDSCAPE DESIGN
Today’s landscapes are thoughtfully and creatively built for living, working and playing, and bring together form and function for a quality outdoor experience. More residential landscapes feature designated areas for cooking, dining, relaxing and even working outdoors, armed with fully integrated outdoor lighting and audio/visual systems for a multisensory and multiuse experience, day or night. Office landscapes more frequently include walking and bicycle paths, dining areas or gardens to enhance the employees’ experience. For both residential and commercial landscapes, the experience often begins at the entrance, with beautiful lawns, plantings and design elements that make a welcoming or wowing first impression.
CLIMATE-COGNIZANT LANDSCAPING
Unpredictable weather patterns call for landscape enhancements that withstand extreme conditions and allow spaces to be enjoyed on unseasonably cool or warm days. More landscapes are planned with the unexpected in mind, such as pergolas with retractable canopies that can protect outdoor areas in wind, rain and snow; outdoor heaters for patios on chillier nights; and hardier hardscape materials that can handle drastic temperature fluctuations.
EMPHASIS ON WATER MANAGEMENT AND CONSERVATION
A buzzword for years, sustainability in landscaping is more than a trend, it influences how landscapes are created and maintained now and in the years to come. In particular, the integration of eco-friendly watering practices are expected to continue to take off in 2018, including the use of plants native to a region (which generally use less water), xeriscaping (planning a landscape to use low-water use plants), and smarter irrigation technology.
ENHANCED EQUIPMENT AND TECHNOLOGY
The latest yard tools on the market consider ease of use and storage while incorporating more eco-friendly innovations. Many lawn mowers, leaf blowers and similar equipment feature low or no emissions, are battery-powered, and are quieter. Many lawn and garden tools are also designed to stack or fold to fit in the garage or shed. Professionals are also integrating more technology — mobile apps, 3D modeling and drones — into landscape planning.
PLANTS IN PLAYFUL COLORS AND PATTERNS
While the simple elegance of greenery was all the rage last year, 2018 will see a renewed interest in adding pops of color and whimsy to landscapes. With ultra violet named the Color of the Year by Pantone, a leading provider of color systems and an influencer on interior and exterior design, landscape professionals expect to integrate more violets, verbena, clematis, iris and other purple flowers into landscapes. “Patterned” plants are also getting their time in the garden spotlight, as these unique plants are revered for their intricate details, such as striped leaves or brightly colored veins.
GARDEN TO TABLE F R O M
Y O U R
B A C K Y A R D
by How Stuff Works
Presented by Sister Hood Little Bit Farm
You could spend lots of time and energy planting a garden that’s purely for show – or you could focus your efforts on edible gardens, blooming with tomatoes, berries, herbs, and even flowers that will provide you with a summer’s worth of delicious salads, desserts, and other dishes – plus plenty of extra fruits and vegetables that you can preserve for the winter. Start with these common edible plants that let you really appreciate your garden.
HERBS Fresh herbs may just be the easiest kind of plant to grow; even if you don’t have any space outdoors, you can grow them in containers, on a windowsill, or even in a hydroponic garden. They’re also almost ridiculously versatile: You can use them fresh, dried, or pureed, over vegetables and pasta, on roasted meats, or in desserts and drinks.
TOMATOES If you’re hoping to have fresh, red, juicy tomatoes straight from your garden, you’ll need to plant them in a spot that gets plenty of sun and where the soil drains well – and in a region where temperatures don’t go much higher than about 85 degrees. Some types of tomatoes will need to be harvested all at once, so those varieties are often better for canning and preserving, while others will continue to grow throughout the summer.
STRAWBERRIES For a bumper crop of strawberries that continues throughout the summer, install your plants in areas of full sun and moist soil. If you don’t have the space to dedicate to planting a strawberry garden in the ground, then try using strawberry jars or other small containers to make the most of a patio, porch, or balcony. (But keep in mind that the animals in your yard find strawberries just as delicious as you do, and you may need to add netting to get any for yourself.)
PEAS Climbing green pea vines are a pretty addition to your backyard garden, but for the maximum harvest you’ll need to plant them early – they thrive when temperatures are in the low 60s – and need rich, well-drained soil. You’ll have peas ready to eat in about 7-10 weeks; just in time to add them to light summer meals like stir fries, pastas, frittatas, salads, and more.
BELL PEPPERS How Stuff Works recommends starting your pepper plants indoors about eight weeks before you want to move them outside, where you should place them in full sun after the last frost. Prefer your peppers red or yellow as opposed to green? Let them stay on the plant longer: The reds are the most ripe, while the greens are picked before they reach their full color.
ZUCCHINI Give your zucchini plenty of space to spread out and tons of sunlight and you just might end up with more of these tasty green squashes than you know what to do with – but that’s not necessarily a bad thing when this summer squash has so many uses. Zucchinis have a mild flavor that means you can add them to any veggie-based dish (like pasta or soup) but they can also stand on their own when stuffed, sautéed, or roasted. They’re even a great base for cakes, cookies, and other baked goods.
T H E
R I S E
O F
T H E
NEW ARISTO CRACY by Luxury Portfolio
Presented by Patty Webb
THE WORLD OF WEALTH CONTINUES TO GROW AT BREAKNECK SPEEDS While this is a global phenomenon, with growth in China and Southeast Asia, as well as Europe (thanks to a resurgence in Spain and Italy, and continued growth in Germany and France), it is the United States that leads the charge as the world’s powerhouse in mega-wealth creation. In 2017 alone, personal wealth in the U.S. grew by $8.5 trillion, followed by China with $1.7 trillion in growth.1 Americans’ personal net worth now tops $96 trillion and financial wealth has risen 9% since 2016, to $78 trillion, according to the U.S. Federal Reserve. Cash savings have grown by $600 billion dollars in the past year and top $11 trillion in total. The wealthiest Americans have benefitted the most in the post-recession economy; the top 1% hold 39% of the assets. Other boats are beginning to rise. Along with the growth in wealth, America is enjoying a surge in the number of affluent households as well. In just one year, the U.S. added 745 thousand households to the ranks of families earning at least $250,000 gross annual income. This represents an 18% increase, bringing the total to nearly 5 million affluent U.S. households (roughly, the top 4% of households). But organic growth in wealth is just one aspect of the trend. In fact, the coming year(s) represents a unique moment in time. With phenomenal gains in the stock market, combined with new legislation that favors wealthy families, we expect this is just the beginning to what could be a boom time for luxury real estate.
And we are not alone. A 2014 report from the Center of Wealth and Philanthropy at Boston College estimated that in a bull market, also known as 4% growth, similar to the economic climate we are in now, adding a $5 million exemption in the estate tax could put $11.3 trillion in the hands of heirs by 2026 and $89.4 trillion by 2061. We believe this is good news for the luxury real estate market and could impact the space positively for the decade to come. We see the effects today as the majority of buyers seeking $1 million-plus homes are 25–49 years old and have inherited or plan to inherit significant wealth. Particularly interesting, is the increased growth of this market at the younger end of the range. However, this buyer is a mature adult and while the group includes “Millennials” they look and behave quite differently from the stereotypical Millennial. They are, on average, 37 years old, married and have young families. Their careers are solid and their future prospects are high. We are witnessing the rise of The New Aristocracy. It is this consumer who has begun powering the $1 million-plus real estate market, more so than their older counterparts, the 50-and-over Luxury Loyalists, who historically have driven the high end of the real estate market.3 While the older group is very wealthy, and is the dominant force in overall luxury spending today, their plans for real estate are for downsizing and economizing, on a relative basis. BOTTOM LINE: there are more affluent consumers now, and they are wealthier, than ever before.
1 Credit Suisse Global Wealth Report 2017. 2 Current Population Survey (CPS) Annual Social and Economic (ASEC) Supplement. The CPS is a joint effort between the Bureau of Labor Statistics and the Census Bureau. 3 Based on 2017 NAR, plus existing homes Census statistics of $1M+ sales, approximately 77% buyers were 24–49 years old vs 23% buyers were 50+ years old.
up is unlike any American generation before it. They l ultimately be larger in number and greater in onomic power than the wealthy in the gilded age of e Rockefellers. Beyond that, they will have a lifetime experience in living a luxury lifestyle, as they are the dren of the very wealthy. Their experience with fine l estate, fashion, travel, and a host of other categories made them savvy consumers with many demands.
HERITED WEALTH
e New Aristocracy is more likely to have grown up in uent and wealthy families and stands to inherit nearly million on average (58% expect to inherit more than million).
erestingly, this is a largely U.S. phenomenon, as most alth worldwide has been earned in the lifetime of the ividual rather than inherited.
w would you characterize the economic status of ur household when you were a teenager?
New Aristocracy: Ages 25–49 | Luxury Loyalists: Ages 50+
Middle Class or Lower
23%
35%
Upper Middle Class
36%
35%
Affluent or Wealthy
41%
30%
xury Loyalists are not out of the loop entirely when it mes to inheritance, 47% expect to take in $1 million or re, however 26% expect to receive no inheritance at a stark contrast from the New Aristocracy.
MBER OF U.S. FAMILIES WHO VE GIFTS OF $1 MILLION OR MORE
7,641
$10 Millio
INHERITED WEALTH No Inheritance
14%
26%
28%
28%
24%
25%
The New Aristocracy is more likely to have grown up in Underand $1 wealthy Million families and stands to inherit nearly affluent $4 million on average (58% expect to inherit more than Million to under $5 Million $1$1 million). $5 Million to $10 Million 18%ESTATE? Interestingly, thisunder isIT a largely U.S. phenomenon, as 15% most WHAT DOES MEAN FOR REAL
wealth worldwide earned in the of the Younger buyers has whobeen have grown up lifetime with wealth $10 Million or More 16% individual rather than inherited. have greater exposure to luxury, are more 7% educated and aware of their likes and dislikes. Average Inheritance (Millionsthe USD) $3.8status How would characterize economic of They know you brands, they demand quality and$2.6 your household when you were a future teenager? *Include amounts already received as well as inheritance from all they are familiar with real estate.
before taxes (e.g., cash,| stocks, bonds, real estate, art, business sources, New Aristocracy: Ages 25–49 Luxury Loyalists: Ages 50+
assets, other assets). Inheritance is often a financial windfall that helps out with Class downorpayments or enables23% buyers 35% to Middle Lower purchase with cash. Wealthy families have been gifting heirs ever since a George Upperassets MiddletoClass 36% W.35% Bush-era provision allowed for greater exemption WealthyBetween 2011 and41% in Affluent lifetimeorgifting. 2014 the 30% Younger buyers who have grown up with wealth have transfer of million-dollar-plus gifts increased by greater exposure to luxury, are more educated and a factor of 20 compared to 2007–2010 (which was Luxury Loyalists areand not dislikes. out of the loop entirely whenthey it aware of their likes They know brands, in line with historical norms). As a result, half a comes toquality inheritance, 47%are expect to take $1estate. million or demand and they familiar with in real trillion dollars—in million dollar gifts—have been more, however 26% expect to receive no inheritance at transferred and it iswindfall only the Inheritance isalready often a financial thatbeginning. helps out
WHAT DOES IT MEAN FOR REAL ESTATE?
all, a stark contrast from the New Aristocracy. with down payments or enables buyers to purchase with cash. Wealthy families have been gifting assets to heirs ever since a George W. Bush-era provision allowed for NUMBER OF U.S. FAMILIES WHO greaterGIFTS exemption lifetime gifting. Between 2011 and GAVE OF $1inMILLION OR MORE 2014 the transfer of million-dollar-plus gifts increased by a factor of 20 compared to 2007–2010 (which was in line with historical norms). As a result, half a trillion dollars—in million dollar gifts—have been transferred already and Revenue it is only the beginning. Source: U.S. Internal Service, Tax Statistics
7,641
Average In
*Include amoun sources, before assets, other a
WHAT D REAL ES
Younger buy greater expo aware of the demand qua
Inheritance i with down p cash. Wealth ever since a greater exem 2014 the tran by a factor o line with hist dollars—in already and
TOTAL VAL $1 MILLION
$25.9 B
171,303
TOTAL VALUE OF GIFTS OF $1 MILLION OR MORE
2007–2010 2011–2014
$25.9 BILLION 171,303
$549.5 BILLION
ce: U.S. Internal Revenue Service, Tax Statistics
Luxury Portfolio International® || 3
REAL ESTATE TRENDS
THE NEW ARISTOCR ACY
The New Aristocracy buyer that is looking to spend at least $1 million in the next one to three years, is primarily looking for an urban residence, and Fitness many are seeking a living area of 5,000 square A well-outfitted gym and spa area are in high demand. feet or larger. Given their growing families and These rooms are highly practical for the time-stretched The New Aristocracy has a need for security and high-net-worth buyer and physical health is among the potential toseem livesurprising with multiple generations privacyplans that may considering this is top priorities again this year. The search for a pool is underthethe same roof, younger buyers’lifeneed foron for younger buyers as they seek spaces catering to generation known the for sharing their personal greater square makes perfect sense: overchildren and adult party-goers alike. online. Amongfootage their top “essential” next home features are bothare entertaining (like outdoor spaces, half (53%) lookingoptions for something over 7,500 Nice to Does not commercial-grade kitchen appliances, and nearby Essential square feet, (and a surprisingly large percentage have matter dining options) and advanced security features (such as of buyers are looking at 20,000 square feet or Steam Shower surveillance cameras and monitored security systems). 45% 47% 8% more)While andthese many are looking for four or more features have always been important for bedrooms andthe three bathrooms. the wealthy, realityor of more the world today makes them Spa/Jacuzzi/Hot Tub
MOST DESIRED FEATURES AND AMENITIES
45% 48% 8%
absolute necessities for this younger generation.
TOP 5 OVERALL DEEMED “ESSENTIAL” TOP 5 OVERALL DEEMED “ESSENTIAL” NEXT NEXT HOME FEATURES
Outdoor Pool
41% 50% 10%
Gym/Fitness Room
37% 54% 9%
HOME FEATURES
Sustainability
1
Near Restaurants and Dining Options
2
Has Outdoor Space such as a Patio or Terrace
3
Multiple View Surveillance Cameras
In-home technology is officially part of daily life. As the Internet of Things (IoT) connects our appliances with our voice-controlled devices, high-net-worth consumers are leading the charge to at home integration. Smart home technology centered around sustainable living is the item of the year. High-efficiency windows and doors along with an equally efficient HVAC system that integrates with the smartphone is a prime selling feature for easy living. Essential
4 5
Monitored Security System/Alarm
Commercial Grade Kitchen Appliances
Nice to have
Does not matter
Incorporates Highest Efficiency HVAC
45% 49% 6%
Incorporates Highest Efficiency Windows/Doors
41% 52% 7%
Incorporates Smart-Phone Control
38% 55% 7%
Water-Efficient Landscaping
38% 55% 8%
over half (53%) are looking for something over 7,500 buyers are looking at 20,000 square feet or more) and square feet, (and a surprisingly large percentage of many are looking for four or more bedrooms and three buyers are looking at 20,000 square feet or more) and or more bathrooms. many are looking for four or more bedrooms and three Inmore which one type of location do you or which bathrooms. In one type of location do you want your next
want your next personal residence?
personal residence? In which one type of location do you want your next personal Urban residence?
HALLANDALE, FL | $5,950,000
54% 54% 38%
Urban Suburban
38% 9% 9%
Suburban Rural Rural
REAL ESTATE TRENDS The New Aristocracy buyer that is looking to spend at least $1 million in the next one to three years, is primarily looking for an urban residence, and many are seeking a living area of 5,000 square feet or larger. Given their growing families and potential plans to live with multiple generations under the same roof, the younger buyers’ need for greater square footage makes perfect sense: over half (53%) are looking for something over 7,500 | $5,950,000 square feet, FL (and a surprisingly large percentage of HALLANDALE, buyers are looking at 20,000 square feet or more) and many are looking for four or more bedrooms and three or more bathrooms.
How many square feet are you looking to have in Hownext many square feet are you looking to your personal residence? How many square feet are you looking to have in have in your next personal presidence? your next personal residence? Under 1,000 How many of each of the following room types do youUnder want 1,000 to have in your next personal residence? 1,000 Under 2,000 Average Number of Bedrooms 1,000 Under 2,000 2,000 Under 3,000 Average Number of Bathrooms 2,000 Under 3,000 3,000 Under 5,000 Average Number of Parking Spots in a Garage 3,000 Under 5,000 5,000 Under 7,500 5,000 Under 7,500 7,500 Under 10,000
Design Sensibility
— — 1% 4.3 1% 5% 3.7 5% 16% 2.9 16% 25% 25% 15%
Design Sensibili
The New Aristocracy continues to grow in The New Aristocracy Victorian, Tudor and continues to grow in popular. While on th Victorian, Tudor and contrast, one repres popular. While on th the other prioritizes contrast, one repres this trend is consiste the other prioritizes for. Buyers today oft this trend is consiste and a home that ha for. Buyers today of provenance which b and a home that ha inside the home the provenance which b contemporary desig inside the home the contemporary desig For urban and subur
home is in high dem For urban and subur space by eliminating home is in high dem utilizes an open floo space by eliminating renovated old build utilizes an open floo renovated old build Which of the follow are you thinking ab Which of the follow primary personal re are you thinking ab primary personal r Victorian Victorian Modern
Modern Loft 7,500 10,000 The10,000 New Under Aristocracy has mixed tastes. While Modern Under 20,000 Loft continues to grow in popularity, classical styles such as Tudor 10,000 Under 20,000 20,000 Tudor or More Victorian, and Brick Georgian homes proved just as Tudor Brick Georgian popular. While on the surface these styles stand in stark 20,000 or More contrast, one representing complexity and detail while In which one type of location do you want your next Brick Georgian the other prioritizes clean lines and open spaces, in fact personal residence? this trend is consistent with what many buyers are looking 4 || Luxury Portfolio International Urban How many each of athe following room types for. Buyers todayof often desire more traditional exterior How many of each of the following room types do 4 || Luxury Portfolio International and home that has significance and doayou want insome yourarchitectural next personal residence? you want to have in your next personal residence? Suburban provenance which blends into its surroundings. However, The New Aristocracy buyer that is looking to spend at inside the home theyofare looking for open spaces, Average Number Bedrooms Rural least $1 million in the next one to three years, is primarily contemporary design and modern conveniences. looking for an urban residence, and many are seeking Average Number of Bathrooms a living area of 5,000 square feet or larger. Given their For urban and suburban/rural buyers alike, the loft style How many square feet are you looking to have in growing families and potential plans to live with multiple home is in high demand. They Spots like how loft maximizes Average Number of Parking in athe Garage your next personal residence? generations under the same roof, the younger buyers’ space by eliminating the majority of interior walls and need for greater square footage makes perfect sense: utilizes an open floor plan. Lofts can offer the charm of Under 1,000 over half (53%) are looking for something over 7,500 renovated old buildings, such as barns and warehouses. square feet, (and a surprisingly large percentage of 1,000 Under 2,000 Which of the following architectural or home The New Aristocracy has mixed tastes. While Modern Which of the following architectural or home styles buyers are looking at 20,000 square feet or more) and styles are you about purchasing continues to grow inthinking popularity, classical styles such as for 2,000 3,000 are you thinking about purchasing for your next many areUnder looking for four or more bedrooms and three Victorian, Tudor and Brickpersonal Georgian homes proved just as your nxt primary residence? primary personal residence? or more bathrooms. popular. While on the surface these styles stand in stark 3,000 Under 5,000 contrast, one representing complexity and detail while In which one type of location do you want your next Victorian 5,000 Under 7,500 the other prioritizes clean lines and open spaces, in fact personal residence? this trend is consistent with what many buyers are looking Modern 7,500 UrbanUnder 10,000 for. Buyers today often desire a more traditional exterior Loft and a home that has some architectural significance and 10,000 Under 20,000 Suburban provenance which blends into its surroundings. However, Tudor inside the home they are looking for open spaces, 20,000 Rural or More contemporary design and modern conveniences. Brick Georgian
REAL ESTATE TRENDS
54%
15% 15% 15% 23%
23%
®
®
38%
4.3
9%
3.7
2.9
—
1%
Design Sensibility
5%
16%
25%
15% 54%
15% 38%
23% 9%
How many square feet are you looking to have in your next personal residence? 4 || Luxury Portfolio International®
28% 27%
24% 24%
23%
For urban and suburban/rural buyers alike, the loft style home is in high demand. They like how the loft maximizes space by eliminating the majority of interior walls and
Presented by Travis Reed & Michael Kriethe
W H A T
Y O U
C A N
B U Y
FOR $600,000 751
PROPERTIES LISTED IN METRO ATLANTA
51
PROPERTIES LISTED IN BUCKHEAD
Presented by Erin Yabroudy
$699,000 1 7 1 B E V E R LY R O A D N E 2 B E D R O O M S | 2 F U L L B AT H S
$699,000 2660 PEACHTREE ROAD #14D 2 B E D R O O M S | 2 F U L L B AT H S | 1 H A L F B AT H
Presented by Price Curtis
Presented by Kay Settle & Dawn Mullins
$674,000 3532 PAC E S F E R RY C I R C L E S 3 B E D R O O M S | 2 F U L L B AT H S | 1 H A L F B AT H
$649,900 787 MARTINA DRIVE 3 B E D R O O M S | 2 F U L L B AT H S
Presented by Dawn Mullins & Kiley King
Presented by Alise Shook
$624,000 3547 KINGSBORO ROAD NE 3 B E D R O O M S | 2 F U L L B AT H S
$619,000 3 9 3 0 T H E B AT T E R Y 4 B E D R O O M S | 4 F U L L B AT H S | 1 H A L F B AT H
Presented by Travis Reed & Michael Kriethe
Presented by Susan Heard & Dorcas Winton
$615,000 5 3 0 C A M E R O N M A N O R W AY 5 B E D R O O M S | 3 F U L L B AT H S | 2 H A L F B AT H S
$615,000 1672 VA LO R R I D G E CO U R T 5 B E D R O O M S | 4 F U L L B AT H S | 2 H A L F B AT H S
Presented by Alyson Becker
Presented by Lori Halpern
$605,000 953 M O R E L A N D AV E N U E S E 5 B E D R O O M S | 4 F U L L B AT H S
Presented by Studie Young
MARKET UPDATE B Y
N E I G H B O R H O O D
ANSLEY PA R K
BROOK H AV E N
147
340
HOMES FOR SALE
HOMES FOR SALE
47
101
NEW ON MARKET
NEW ON MARKET
$1,237,716
$989,214
AV E R AG E S A L E P R I C E
AV E R AG E S A L E P R I C E
+18.5%
+3.9%
SALES PRICES
SALES PRICES
97.72%
96.05%
L I S T T O S A L E P R I C E R AT I O
L I S T T O S A L E P R I C E R AT I O
148 AV E R A G E D AY S O N M A R K E T
116 AV E R A G E D AY S O N M A R K E T
HarryNorman.com Data pulled March 28, 2018 of last 30 days | Properties $750,000+ % sales price change based on changes compared to March 2017
BROOK WOOD HILLS
BUCK HEAD
20
1,152
HOMES FOR SALE
HOMES FOR SALE
8
332
NEW ON MARKET
NEW ON MARKET
$780,000
$1,177,412
AV E R AG E S A L E P R I C E
AV E R AG E S A L E P R I C E
+1.3%
-10.7%
SALES PRICES
SALES PRICES
97.62%
95.18%
L I S T T O S A L E P R I C E R AT I O
L I S T T O S A L E P R I C E R AT I O
174 AV E R A G E D AY S O N M A R K E T
117 AV E R A G E D AY S O N M A R K E T
CHASTAIN PARK
MID TOWN
75
72
HOMES FOR SALE
HOMES FOR SALE
31
15
NEW ON MARKET
NEW ON MARKET
$1,184,000
$985,000
AV E R AG E S A L E P R I C E
AV E R AG E S A L E P R I C E
-41.1%
-46.5%
SALES PRICES
SALES PRICES
94.58%
93.81%
L I S T T O S A L E P R I C E R AT I O
L I S T T O S A L E P R I C E R AT I O
234 AV E R A G E D AY S O N M A R K E T
53 AV E R A G E D AY S O N M A R K E T
HarryNorman.com Data pulled March 28, 2018 of last 30 days | Properties $750,000+ % sales price change based on changes compared to March 2017
VIRGINIA HIGHLAND
SANDY SPRINGS
81
295
HOMES FOR SALE
32
HOMES FOR SALE
73
NEW ON MARKET
NEW ON MARKET
$1,266,696
$1,175,274
AV E R AG E S A L E P R I C E
AV E R AG E S A L E P R I C E
+12.7%
-19%
SALES PRICES
SALES PRICES
95.96%
95.19%
L I S T T O S A L E P R I C E R AT I O
L I S T T O S A L E P R I C E R AT I O
98 AV E R A G E D AY S O N M A R K E T
97 AV E R A G E D AY S O N M A R K E T
I M P A C T
O F
TAX REFORM O N
H O M E
V A L U E S
b y H a r r y N o r m a n , R E A LT O R S ÂŽ
The Tax Cuts and Jobs Act was signed into law at the end of 2017. The impact on residential real estate is uncertain, but it is our belief that it will be minimal. There are three principle components of the new tax code that will impact residential real estate:
EXCLUSION OF GAIN ON SALE OF A PRINCIPAL RESIDENCE
There was no change in this important benefit of homeownership. Sellers will still be able to exclude $250,000 ($500,000 for a married couple) of any capital gain on their primary residence if they occupied the residence for two of the prior five years.
MORTGAGE INTEREST DEDUCTION
The new law allows the deduction of mortgage interest on loans up to $750,000 for loans issued after December 14, 2017. The previous maximum loan amount was $1 million. Loans issued prior to 12/14/17 are grandfathered. This provision will affect a small percentage of homeowners and is expected to be offset for many by adjustments in pass through taxes to business owners which will enhance purchasing power for those in higher income ranges.
STATE AND LOCAL TAXES (SALT)
Starting in 2018, taxpayers who itemize will be able to deduct their state individual income, sales and property taxes up to a limit of $10,000. Filers will have to make a choice: either deduct individual income taxes or state taxes. You should consult your accountant or tax preparer for all of the details of the changes and how they will impact you personally.
Presented by Alyson Becker
Buckhead Office - 532 East Paces Ferry Road, Atlanta, GA 30305 | 404.233.4142 | HarryNorman.com | Betsy Franks-Broker The above information is believed accurate, but is not warranted. This offer is subject to errors, omissions, prior sale and withdrawals without notice
Presented by Dawn Mullins