Friday, December 10, 2010

Dunwoody Housing Market; Chick-fil-A

The real estate market in the metro area continues to struggle (read more below), and Dunwoody is no different.  There are currently 140 active single family homes listed in Dunwoody in the 30338 zip code, ranging in price from $1,568,000 to $185,000.  One month ago there were 163 active listings.
Presently, there are 11 homes under contract, with two more waiting lender approval (meaning they are short sales, selling for below the mortgage owed on the property).  Five homes have sold in the past 30 days.
To view any of the active listings click on the first link below. 

Nationally, The housing market continues its uneven and gradual recovery without the aid of the tax credit. Experts believe this will be the trend moving forward. Interest rates hit another record low but have started moving back up as the overall economy improves.
Despite a less-than-expected employment report, consumers seem to be feeling brighter about the future. While the Consumer Confidence Index about the Present Situation rose only slightly, the Expectation Index showed substantial improvement. As we enter into the holiday gift-buying season, consumers are expected to be out shopping and buying more gifts for under the tree this year. Reports indicate a 13-24% increase in retail sales from last year. Consumer spending accounts for about half of all economic activity in the US; as long as consumers are spending and using debt responsibly, this is a positive indicator for economic growth.
This march back up continues to provide excellent opportunities: an ample selection of homes, affordable prices, and historically low interest rates.

Chick-fil-A Defers

The Dunwoody Community Council was expecting to hear from Chick-fil-A last night on its request for a zoning change at the old Blockbuster location near Jett Ferry, in order to build a new double, drive-thru restaurant.  Instead, Chick-fil-A said it will defer its request until it can get the city and the Dunwoody Homeowners' Association on board (Sunday night the DHA voted against Chick-fil-A's request).
While Chick-fil-A had little to say, Dunwoody Chamber of Commerce President Bill Grant spoke in favor of the proposed restaurant; ditto for a few residents of nearby Brooke Farm. 
Stacey Harris of the DHA spoke against a zoning change as did zoning expect Bob Lundsten.  Both saying it does not fit with the city's new Comprehensive Land Use Plan.

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