To end the suspense, the answer to the title question about when is the optimal time to buy a home in Forsyth County GA has been officially answered. The answer is, more or less, “now.” All right, there’s an alternate answer, “as soon as practical”—but that is a less dramatic-sounding version of the same thing.
Three “crucial” reasons were presented in Lisa Gordon’s presentation, each of which is hard to argue with:
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Tick! tick! Mortgage rates are rising. No one can be 100% certain of future offerings by Forsyth County’s home lenders, yet there has seldom been such unanimity in signals that the future points upward. That means that who lock in rates early should see meaningful savings when it comes to buying a home. To drive the point home, the article harkened back to 1981 and the 18% mortgages buyers had to face. Today it hovers above 3.5%.
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Tick! tick! tick! Fewer homes on the market. This national trend has consistently moved in the same direction. By November, the number of homes on the market had fallen by nearly 10% from the previous year: a precipitous drop. The Forsyth County listings aren’t always in lockstep with national trends, but the potential for even stiffer competition between buyers when spring and summer activity peaks is quite real.
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Tick! tick! tick! tick! Prices are still rising. “We have yet to see a price ceiling,” is what one agent says—and the sales figures bear him out. After the 5% rise in 2021, even pessimistic projections anticipate higher prices.
For sure, neither the NAR (National Association of REALTORS®) nor I are neutral observers when it comes to selling and buying homes—so the hurry-up reasoning might warrant a degree of skepticism. But the changes in Washington have added a new factor: uncertainty. If you are among those planning on buying a home in Forsyth County at some time in the future, that might be the most convincing argument of all. The current listings and South Forsyth County’s real estate environment are knowns—and they are, by historic standard, pretty terrific. You’ll be able to confirm that yourself when you give me a call!
This Cumming GA Real Estate blog is hosted by Gayle Barton of BERKSHIRE HATHAWAY HomeServices Georgia Properties.
I specialize in Real Estate sales in the following Forsyth County and North Fulton County cities: Cumming, Suwanee, Alpharetta, Milton and Johns Creek. Other north metro-Atlanta suburbs are serviced by request, so please call.
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