Location, Location, Location!

Most everyone has heard that the three most important things when it comes to real estate are location, location, location. In reality it is true, true, true. We all understand that real estate in Beverly Hills or Manhattan is generally worth athensdtmore than real estate in Nebraska. But this principle usually applies to even the smallest cities or towns. In the Athens area location and school district directly affect the value and desirability of a residential property. For example, the two strongest residential markets in Athens-Clarke County are the 5 Points Area and the Normaltown/Boulevard Area. Both of these neighborhoods are close to many in town amenities, the university, and are located in strong elementary school zones. In 5 Points we are seeing values above $200 per sq. foot and in Normaltown values are around $170 per sq foot in some areas. There are many factors that can contribute to value but most can be traced back to location

For example, the Watkinsville area has some of the best schools in the state and it is in close proximity to Athens, GA. This creates a strong residential market in Oconee County and makes it desirable. The land can be purchased cheaper and therefore buyers can see a value to living in that area because they can have more house for less money. So if the schools are strong and the location is good why can someone buy more house for less money? Because land is more abundant in that area. The availability of land is directly correlated to the location. There is just not as much land to build or own in Clarke County as there is in Oconee. For example, a condo in the heart of Downtown Athens will be worth more than one located on Epps Bridge because in the downtown location land is scarce. Basically, it comes down to supply and demand. With little supply demand can grow.

Real Estate values are returning in our area and confidence is up with consumers. It is not likely that the market will crash like it did in 2008 but the reality is that trees do not grow to the sky. At some point, the local market will have to slow. It doesn’t mean it will fall but it will not grow to infinity. The best thing to do is to be aware of all the factors in location when buying a property. Make sure the location has a value and will remain valuable in good times and bad. Please understand that popular interior features are always changing when it comes to real estate. There is no way to know what will be the hot new look of a kitchen in 15 years but one can make a reasonable prediction on what locations will still have a high value. In closing, a well located property will sell in a good market or a bad market. So always make location the TOP priority when purchasing a property. Do not get too wrapped up in granite, tile, or other interior features interior. Remember location always wins.

If you have any questions or real estate needs, please don’t hesitate to contact me or visit my real estate brokerage firm, 5 Market Realty.

1st Post

The internet has changed the world in many ways over the last 20 years, but without a doubt the biggest impact has been in the way people communicate and share ideas. In the past, people had to go through numerous processes or scotttalleyaccreditations to share their opinions and write articles. In most cases, a person would need a degree in journalism or a publisher to get their message out to the world. That is no longer the case in our society. Thanks to the internet anyone can voice opinions or share thoughts. Most of this is done through social media but others take it a step further and create a BLOG. Ideally, these bloggers actually know what they are talking about but in some cases bloggers are just another moron spewing bullsh#*t over the internet. So the way I see it there are two categories of bloggers. Those who offer some insight into subjects they understand or love and others who just come across as idiots. Well as of today I am officially one of those people…A Blogger!

My name is Scott Talley and I am the Broker/Principal of 5 Market Realty in Athens, GA. I was born and raised in Valdosta, GA but enrolled UGA in 1999 and never left Athens. Right out of school I began a career selling real estate in the Athens area. I started with Coldwell Banker Upchurch Realty where I primarily sold residential homes but later began working in commercial real estate. From there I went to work with Landmark Properties, Inc here in Athens. At Landmark, I continued to work with residential homes but also worked extensively with investment and commercial properties. In 2015, I left Landmark to open a new company called 5 Market Realty where we provide clients service in residential, commercial, and investment real estate. With years of experience in the Athens real estate market I think I can avoid the moron category if I stick to real estate. When it comes to other matters I guess I will just have to use my best judgement.

This blog will focus primarily on real estate issues, questions, and things directly related to real estate in the Athens area. However, I am certain that I will not be able resist sharing my thoughts on other things like Georgia Football. I will make sure to avoid politics, religion, and all things Sammy Kershaw (apologies for the old song reference). I hope you will enjoy reading it and take away some useful information. Moving forward please excuse any grammatical mistakes. Commas have been a weakness since 9th grade.