Why Forsyth County, GA Sellers May Benefit from Listing Early
If this is going to be a year of upheaval, the rules for when Forsyth County, GA listings are best initiated might be primed to fly out the window. There’s no guarantee that 2022’s Forsyth County, GA listing performance will bend the rules, but if the National Association of Realtor® is right, it’s a definite possibility.
History has long demonstrated that the most opportune time of year to add your home to the Forsyth County, GA listings is during the peak spring and summer seasons. And, when you look at the volume of home sales through most years, results in those months do look impressive. There are exceptions, but for the most part, spring and summer regularly excel in sales volume.
The Realtor® website ran an article in their Trends area headlining that “This Year, Sellers May Benefit from Listing Early.” Their reasoning was short and sweet—citing recent facts, then drawing a conclusion that’s the opposite of what they seem to indicate. Here are the facts:
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Supply. It’s a fact that from one end of the country to the other, the residential inventory (supply) is starkly reduced. According to the NAR, “Inventory levels at the beginning of the year are at multiyear lows.” Thus, homeowners who list now “face very little competition.”
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Demand. Even though the late fall and winter months have traditionally shown weak demand, the threat of mortgage rate hikes—then the actual rises—may have been all that was needed to instill a growing sense of urgency among buyers. Early results reflect buyer demand that’s “abnormally strong” for this time of year.
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Optimism. With consumer confidence at a 15-year high, once the spring buying season gets going in earnest, Forsyth County, GA buyers might find themselves in “buying competition” that will “get fierce.”
These trends are all well-documented. Yet at first blush, they seem to argue against listing your home now. After all, wouldn’t it still make sense for to follow the traditional dictum—to hold off until that fierce competition takes hold? The answer that flips such a conclusion is found in the fourth fact:
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Sellers Will be Buyers. Overwhelmingly, national surveys suggest that the homeowners behind most Forsyth County, GA listings will also become buyers once they have sold. In fact, an estimated 85% of American home sellers plan to buy another home! If that’s correct, it’s not surprising that they’ll be grateful if they are quick to sell into this winter’s market. That will not only help them get a jump on the crowd come springtime—it will also lengthen the odds that they can cash in on mortgage rates before they rise substantially. All of a sudden, the net advantage to listing early could be substantial!
The short takeaway is that simply accepting the old common wisdom warrants a second look in 2022. If you are one of our Forsyth County, GA homeowners who automatically presumed the wisdom of waiting a while longer to join the Forsyth County, GA listings, it might pay to reassess. Give me a call if you’d like to discuss how your plans fit into today’s broader residential picture—and how to take maximum advantage.
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.
Gayle Barton Forsyth County Real Estate | Cumming GA Real Estate | Mountain Crest Homes For Sale
Gayle Barton Cumming GA Real Estate | Forsyth County Real Estate
Sight Unseen House-Hunting Could be the Next Big “Thing”
Over the least 2 years, nearly half of Americans found themselves in one variation or another of government-mandated “stay-put” orders. While you might think that alone could freeze much of Cumming, GA’s house-hunting activity—one trend indicates why that doesn’t necessarily follow.
The fact is that for years now, a trend has been developing that makes actually visiting a home before buying it a purely optional outing. Don’t believe it? Read on!
Already back in 2015, the Realtor.com website published a how-to article entitled, “How to Size Up a Home, Sight Unseen.” Despite admitting that “it sounds crazy to shell out thousands of dollars for a home you haven’t even set eyes on…”, the article pointed to a survey finding that during the previous two years one in five home buyers had made an offer without physically touring—or even seeing—the property.
According to BusinessWire, a survey of 2,134 Americans puts that figure at 21%. Cumming, GA sellers offering luxury properties would be interested to learn that among the non-touring buyers, a surprising 53% bought homes for more than $750,000. Demographics were as you might assume. Many were millennials—and many were also single or never married.
Although that particular survey could be challenged due to the anonymity of the online respondents, there is no doubt that remote buying is increasingly possible as online resources improve and proliferate. After all, military families have long resorted to “sight unseen” purchases when relocating—and an increasingly mobile American business workforce has likewise grown more dependent on video walk-throughs to confirm their home-buying decisions.
I actually helped two home buyers purchase homes via video last year. Yes, it can be a challenge but making sure that they see it fully (with running verbal commentary) can give them the confidence they need when an in-person trip is just not possible.
The upshot is that even as “social distancing” and other yet-to-evolve health precautions change the ease with which some real estate purchasing steps are conducted, it’s a surefire bet that Cumming, GA homes will still continue to be bought and sold, as always (sight seen or unseen). Call me for the latest insights on what is happening this week in Cumming, GA!
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.
Gayle Barton Forsyth County Real Estate | Cumming GA Real Estate | Mountain Crest Homes For Sale
Gayle Barton Cumming GA Real Estate | Forsyth County Real Estate
Disclaimer: Information contained in this post is deemed reliable on the date of publication, but it is not guaranteed, and it is subject to change without notice. All content, including text, original art, photographs and images, is the exclusive property of Gayle Barton and may not be used without expressed written permission.
For Forsyth County Real Estate Market, 2021 Defied the Odds
Normally, when a website like lexology.com assesses the year in real estate as one “which faced unprecedented challenges,” Forsyth County readers know what to expect: details that amount to a torrent of excuses justifying a lame showing in the year just ending. But–not so this time.
As Year 2021 goes into the record books, its history is anything but lame —as any number of Forsyth County homeowners will attest. They have good reason to be elated by the ballooning value of their primary investments—their Forsyth County home.
The upbeat details weren’t limited to Forsyth County, either. Throughout most of the nation, the story was the same. Home.com “saw home prices skyrocket like never before.” CNBC headlined, “Homeowners are sitting on record equity,” while theclose.com went on to note, “the average listing price for a home in 2021 has risen more than 32% since March 2020” (to $374,900).
The superlatives extended to residential investors so that even the normally staid Wall Street Journal could headline a “Golden Age” for apartment owners—one “Primed to Continue in 2022.”
The strong showings traced their beginnings to the early months of the COVID-19 pandemic. Following early expectations that centered on the health restrictions bound to hamper residential showings and open houses, it soon became apparent that buyers were going to be undeterred. There followed the opposite of the anticipated slowdown, triggering a dramatic reduction in the supply of homes for sale. And when inventory levels “went from a six-month supply to a one-month supply over the course of a year” (nhbr.com), the resulting competitive atmosphere had buyers dealing with a real estate market where closing prices could wind up eclipsing listing prices. In November, Realtor®Magazine cited existing-home prices that rose another 1.9% over October’s closings, reflecting the prevalence of “determined buyers” looking to “land housing before mortgage rates rise further in the coming months.” By the time the year ends on Friday, the U.S. home values will likely have chalked up more than the 13.3% registered at the close of November.
For Forsyth County homeowners who will be listing in the new year, the outlook continues to be bright. For those looking to escape rising rental rates, a few bright spots may be emerging—the brightest being a year-end prediction by Fannie Mae: those rising mortgage interest rates are expected to end 2022 at 3.3%. For buyers and sellers, as always, I’ll be manning the phones, awaiting your 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.
Gayle Barton Forsyth County Real Estate | Cumming GA Real Estate | Mountain Crest Homes For Sale
Gayle Barton Cumming GA Real Estate | Forsyth County Real Estate
Disclaimer: Information contained in this post is deemed reliable on the date of publication, but it is not guaranteed and it is subject to change without notice. All content, including text, original art, photographs and images, is the exclusive property of Gayle Barton and may not be used without expressed written permission.
History of New Year’s Resolutions Hard to Find
Forsyth County New Year’s Eve partygoers will be taking part in one of the most ancient of human rites—one that dates back thousands of years. New Year’s resolutions probably started about the same time, but there aren’t any traces of them (not surprising, when you consider that all traces of most New Year’s resolutions disappear entirely before Groundhogs Day).
If one of your own resolutions is to become a more knowledgeable New Year’s Eve partygoer (or even just to be better prepared to break awkward silences), the following New Year’s historical facts could come in handy:
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Ancient Babylonians hosted the first known New Year’s Eve parties (back around 2000 BC).
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The Romans celebrated New Year’s Day on March 1.
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Auld Lang Syne is Scottish for “times gone by.”
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The Times Square ball drop features Waterford Crystal triangles that change every year (for 2020, the pattern is called “The Gift of Goodwill”).
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The last place to celebrate the New Year is Baker Island (it’s in the South Pacific).
On the other hand, if you’re one of those Blue Ridge New Year’s Eve partygoers whose New Year’s resolution is to be less of a know-it-all, keeping these New Year’s trivia to yourself could get you off to a better start.
In any case, on a much more serious note, this Wednesday marks the opening of a whole new decade—one that bears multiple signs of a decidedly prosperous future. If your year will include Blue Ridge real estate dealings, I’ll be here to ensure they follow through on the promising beginning. Do 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.
Gayle Barton Forsyth County Real Estate | Cumming GA Real Estate | Mountain Crest Homes For Sale
Gayle Barton Cumming GA Real Estate | Forsyth County Real Estate
When Will the Real Estate Market Get Back to Normal?
We see many headlines out there that claim we’re on our way to reverting to a more normal real estate market.
That would indicate the housing market is returning to the pre-pandemic numbers we saw from 2015-2019. —>> But that’s just not happening. The market is still extremely vibrant as demand is still strong even while housing supply is slowly returning.
Here’s the definition of normal from the Merriam-Webster Dictionary:
“conforming to a type, standard, or regular pattern: characterized by that which is considered usual, typical, or routine.”
Using this definition, here are five housing industry metrics that prove we’re nowhere near normal.
1. Mortgage Rates
If we look at the 30-year mortgage rate chronicled by Freddie Mac, we can see the average rates by decade:
1970s: 8.86%
1980s: 12.7%
1990s: 8.12%
2000s: 6.29%
2010s: 4.09%
Today, the average mortgage rate stands at 2.87%, which is very close to the historic low.
Currently, mortgage rates are anything but usual, typical, or routine.
2. Home Price Appreciation
According to Black Knight, a housing data and analytics company, the average annual appreciation on residential real estate prices since 1995 has been 4.14%.
According to the latest forecast from the National Association of Realtors (NAR), home price appreciation will hit 14.1% this year, which will be greater than any year since Black Knight began collecting this data.
Currently, home price appreciation is anything but usual, typical, or routine.
3. Months’ Supply of Inventory (Homes for Sale)
According to NAR:
“Months’ supply refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace. Historically, six months of supply is associated with moderate price appreciation, and a lower level of months’ supply tends to push prices up more rapidly.”
As of the latest Existing Homes Sales Report from NAR, the current months’ supply of inventory stands at 2.6. That’s less than half of a normal supply.
Currently, the supply of homes for sale is anything but usual, typical, or routine.
4. Days It Takes To Sell a Home
The days-on-market metric gives an indication of how hot a market is and how quickly homes are selling. In 2019, prior to the pandemic, the average days on market stood at 35, according to NAR. Today, that number is cut in half and is now at 17 days.
Currently, the days-on-market metric is anything but usual, typical, or routine.
5. Number of Offers per Listing
According to NAR, the number of offers per listing stood at 2.2 in 2019. Today, that number is double at 4.5.
Currently, the number of offers per listing is anything but usual, typical, or routine.
Bottom Line
When…Mortgage rates are near historic lows –
Price appreciation is at historic highs –
Housing inventory is less than half of the normal amount –
The time it takes to sell a home is cut in half, and –
There are twice as many offers on each house –
…it’s hard to say we’re in a normal market or if we’re going back into one.
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.
Gayle Barton Forsyth County Real Estate | Cumming GA Real Estate | Mountain Crest Homes For Sale
Gayle Barton Cumming GA Real Estate | Forsyth County Real Estate
What the 2020 Lockdowns Taught About the Need for Space
The “closet space” factor is something most Cumming GA house hunters think about—but it’s not one that is likely to determine the final choice. Yet, as the whole country was forced to adjust to the changes in lifestyle that were needed to address the recent health emergency, the importance of the “closet space” factor became more evident. As people found themselves spending a lot more time indoors, the value of ample closets—and storage space in general—became apparent.
The basic truism is that when we’re compelled to spend extra hours indoors, having ample personal elbow room—sufficient uncluttered, open space—yields noticeable psychological benefits. Anyone who doubts that need only count the times they’ve found themselves muttering things like “stir crazy” and “cabin fever.”
You may not be able to expand your home’s actual square footage, but thoughtfully organizing its existing closet and shelf space is eminently doable. Previously, if there had never seemed to be enough time to adequately address the issue, the mandated stay-at-home hours of 2020 provided abundant time to find a fix for that!
As we in real estate are so fond of repeating, it’s a matter of reducing the (here’s that word again) clutter. The web is packed with sites that offer ideas for making the most of your Cumming GA house’s existing closet and shelf space—as well as tips for what to do with all the stuff you no longer need.
Needless to say, if your future plans include putting your own Cumming GA house on the market, demonstrating the adequacy of its available storage space (plus clearing away the clutter) will put you ahead of the game when it’s time to sell. Meanwhile, I’ll be here to answer any and all Cumming GA real estate questions. Don’t hesitate to call!
CONSIDER READING THESE ARTICLES AS WELL:
Selling Forsyth County Homes Isn’t All about Clutter (or is It?)
Secrets to a Quick Sale
Organizing Your Home – Getting Started
Organizing Your Home – Linen Closet
Organizing Your Home – Kitchen Cabinets
Organizing Your Home – Kitchen Drawers
Organizing Your Home – Pantry
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.
Gayle Barton Forsyth County Real Estate | Cumming GA Real Estate | Mountain Crest Homes For Sale
Gayle Barton Cumming GA Real Estate | Forsyth County Real Estate
Recent Events Affecting Forsyth County GA Home Sellers
In addition to recent mortgage interest rate developments, a batch of other events that also could affect Forsyth County, GA home sellers made news:
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Forsyth County GA home sellers who’ve been hearing that millennials constitute the next wave of prospective buyers might have been momentarily discouraged by a CoreLogic report, which included the dire-sounding, “only 40% of millennials feel financially confident enough to purchase a home.” (However, those who know that there are over 71,000,000 millennials would have fretted less. And further, a more recent report from CoreLogic report brought to light that almost ¾ of the home sale growth during COVID can be attributed to millennial buyers.)
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On the other hand, CoreLogic also informed Forsyth County, GA home sellers of their projection that the U.S. residential price index will rise 5.4% by January 2021. The January 2021 index report date marked the 8th consecutive year that prices rose in the U.S.
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In another report, Freddie Mac’s chief economist put a number to the undersupply of American housing: 3,300,000 units. The reason continues to be outfall from the housing crash of a decade ago, which wiped out many homebuilding companies. For Forsyth County, GA home sellers, it’s part of why the prices for their properties are expected to continue to rise.
If you are thinking that 2022 is shaping up as a prime time to list your own Forsyth County GA home, you aren’t alone. Call me!
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.
Gayle Barton Forsyth County Real Estate | Cumming GA Real Estate | Mountain Crest Homes For Sale
Gayle Barton Cumming GA Real Estate | Forsyth County Real Estate
What Steps Can Boost Prices for Forsyth County, GA Homes for Sale?
Taking any action that helps improve the environment is bound to return some degree of personal gratification—but for homeowners with Forsyth County, GA homes for sale, recent research adds less esoteric rewards. In fact, homeowners don’t have to be planning to sell to begin to cash in on the financial benefits it identifies.
The research comes out of the Department of Energy and the Federal Home Loan Mortgage Association (Freddie Mac). The analysts were hoping to nail down the actual dollars and cents advantages achieved by homeowners who take active measures to improve household energy efficiency. A summary of their findings includes the fact that for a typical American household (one whose energy bills average $2,200 per year), efficiency improvements can immediately reduce what they pay by as much as 30%.
From Freddie Mac’s point of view, the critical finding came with the bottom line for homeowners whose properties were up for sale. The numbers showed that homes demonstrating improved energy efficiency returned 3% to 5% higher selling prices than those that did not.
In practice, that confirms that today’s deliberate homebuyers favor Forsyth County, GA homes with lower operating costs than comparable neighbors. The bottom line: when a seller can produce a year’s worth of below-average utility bills, it can be a difference-maker.
For homeowners who know that selling is out there somewhere in the future, that bona fide selling advantage that could be motivation enough to move energy efficiency improvements to the top of this spring’s to-do list. To that end, here’s a rundown of practical energy-savers – one government publication presented in an engaging, no-nonsense format. It includes “low-cost and no-cost” ideas, too.
Whether your own Forsyth County, GA home will be listed this year or sometime down the line, there are early steps that can pay off mightily later on. Call me anytime to discuss!
CONSIDER READING THESE ARTICLES TOO:
Your Forsyth County Energy Bills can Improve Your Home’s Value
Despite What Kermit Says, It Really Is Easy Being Green
Simple Tips for Cutting Your Utility Bills
Scam Alert: There’s No Such Thing as a Free Energy Audit
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.
Gayle Barton Forsyth County Real Estate | Cumming GA Real Estate | Mountain Crest Homes For Sale
Gayle Barton Cumming GA Real Estate | Forsyth County Real Estate
Two Different Approaches to Forsyth County House-Hunting
One way to think of various ways that house-hunters approach their search is by how the project has been initiated. If you are already house-hunting in Forsyth County, you’ll recognize which of the two house-hunting approaches yours fall into. The one that’s most common is the Gradual Getting Serious method. The second is more Structured.
GGS usually prevails because most changes in residence result from a series of evolving changes in circumstances. A family’s shelter requirements expand with the arrival of a Bundle of Joy—just as they scale down when the kids set out into the world. Income streams may expand or contract as careers change—and physical needs may shift with the passage of time.
It may take a while for Mom and Dad to admit that the familiar homestead has become a less than ideal fit—but its drawbacks may gradually become harder to ignore. Sooner or later, family members find themselves paying more attention to “For Sale” signs that appear. They find themselves spending more online time musing over the online Forsyth County listings.
Gradually, they get serious—and as they weigh the relative attractions of the properties that might just be worth taking a look at, a ‘must-have’ list of features (Forsyth County neighborhood, number of bedrooms, yard size, desired layout, etc.) that fall within the available budget becomes apparent.
The Structured approach is more likely to be triggered when a sudden, usually unplanned change in circumstances prompts the change – like a job relocation. When the time factor can’t be ignored, a ‘must-have’ list has to be drawn up, pronto: the same kind of must-have’s that fall within the available budget. They form the basis for the showings list of properties to be toured.
No matter which way your own Forsyth County house-hunt has come about, enlisting the help of a knowledgeable Forsyth County real estate professional is the way to ensure you don’t miss being introduced to all the available properties that qualify for your attention. Call me anytime!
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.
Gayle Barton Forsyth County Real Estate | Cumming GA Real Estate | Mountain Crest Homes For Sale
Gayle Barton Cumming GA Real Estate | Forsyth County Real Estate
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