The Real Estate Update 


Sept. 22, 2023

Will Mortgage Interest Rates Rise This Year?

Will Mortgage Interest Rates Continue to Rise This Year?

Are you worried about another interest rate hike affecting already-high mortgage rates.  If you are, here's some good news: The Federal Reserve did NOT announce another rate hike this week. However, this doesn't mean that we've seen the end of them

The interest rates has a huge factor in determining the monthly payment when someone buys a home and uses a mortgage.  When home buyers purchase a home the monthly payment is very important so the higher the rate the less home a buyer can afford.  The table below shows the impact of different rates on a mortgage of $300K.

 While businesses and consumers alike were hoping to hear Fed Chair Jerome Powell drop hints that suggest the end of rate hikes, no economist is ruling them out 100%. This because the year isn't over till it's over, and the Fed probably won't be sure about possible rate hikes until their next meeting. This is because Fed decisions are dependent on incoming economic data.

 While inflation has cooled during 2023, we're still seeing strong numbers in employment & an increase in the price of oil which drives all costs up.  Additionally, there are some newer risks. They include the current automotive strike, the ongoing writers' strike, the resumption of student loan payments and a possible government shutdown.


Every Friday I am emailed rates by various lenders.  Here are the rates I received today on a 30 year fixed rate:


Wells Fargo              7.125%

Ameris Bank             6.99%


It pays to watch rates and shop around.  Call me if you are planning on Buying or Selling a home in the near future.


What I am hearing from lenders is they expect rates to fall going into next year.  I heard the same thing last year and rates kept going up.  I do not think anyone knows for sure what rates will do - advice I give people is you marry the house and date the mortgage.  If rates go down refinance.  If they continue going up you will be glad with the rate you qualify for.


Sept. 21, 2023

Are More Homes Coming onto our Market?

Are More Homes Coming onto the Market?

An important factor shaping today’s market is the number of homes for sale. And, if you’re considering whether or not to list your house, that’s one of the biggest advantages you have right now. When housing inventory is this low, your house will stand out, especially if it’s priced right.

But there are some early signs that more listings are coming. According to the latest data, new listings (homeowners who just put their house up for sale) are trending up. Here’s a look at why this is noteworthy and what it may mean for you.

More Homes Are Coming onto the Market than Usual

It’s well known that the busiest time in the housing market each year is the spring buying season. That’s why there’s a predictable increase in the volume of newly listed homes throughout the first half of the year. Sellers are anticipating this and ramping up for the months when buyers are most active. But, as the school year kicks off and as the holidays approach, the market cools. It’s what’s expected.

But here’s what’s surprising. Based on the latest data from, there’s an increase in the number of sellers listing their houses later this year than usual. A peak this late in the year isn’t typical. You can see both the normal seasonal trend and the unusual August in the graph below:As explains:

“While inventory continues to be in short supply, August witnessed an unusual uptick in newly listed homes compared to July, hopefully signaling a return in seller activity heading toward the fall season . . .”

While this is only one month of data, it’s unusual enough to note. It’s still too early to say for sure if this trend will continue, but it’s something you’ll want to stay ahead of if it does.

What This Means for You

If you’ve been putting off selling your house, now may be the sweet spot to make your move. That’s because, if this trend continues, you’ll have more competition the longer you wait. And if your neighbor puts their house up for sale too, it means you may have to share buyers’ attention with that other homeowner. If you sell now, you can beat your neighbors to the punch.

But, even with more homes coming onto the market, the market is still well below normal supply levels. And, that inventory deficit isn’t going to be reversed overnight. The graph below helps put this into context, so you can see the opportunity you still have now: 

Locally the New Listings in Alpharetta and Cumming are for Aug 2023 vs Aug 2022

In our local market the Number of news listings continues to decrease when comparing August of each year.  In Alpharetta last month there were 154 new listings compared to 209, 242, and 391 the previous 3 years.  While in Cumming the number of new listings was 274 in Aug 2023 compared to 343 (2022), 372 (2021) and 293 in 2020.

The chart below shows the seasonality our real estate market exhibit - the number of new listings hitting our market remains low.  That helps create a strong sellers market in these areas at certain price points.  If you are considering selling - we still have limited supply and strong demand and that is a supporting pricing.



Bottom Line

Even though inventory is still low, you don’t want to wait for more competition to pop up in your neighborhood. In Alpharetta Ga, as well as Cumming Ga, there is still a shortage of homes for sale and the number of new listings is very low.  You still have an incredible opportunity if you sell your house today. Let’s connect to explore the benefits of selling now before more homes come to the market.  Call or text me at 770 722-7010 or complete the form below.


#Alpharettarealestate #alpharettarealtor #bestalpharettarealtor #homesforsaleinalphartte

Sept. 20, 2023

Just Sold in Greystone Manor - Cumming Ga 30041

John Foster, Realtor with Keller Williams Realty, just sold 2505 Manor Creek Dr, Cumming Ga.  In the popular gated community of Greystone Manor, in the award winning South Forsyth High School.

This home is stunning and is on the lake with a full finished basement.  If you are considering buying a home in Cumming GA, (Forsyth County) - call John Foster today or click here to see the newest Listings - homes for sale

Subscribe to John's YouTube channel for updates on the Real Estate market  

With the Federal Reserve not raising Interest Rates today that is good news for home values. I think it is the right decision to collect more data. Mortgage rates therefore essentially are at their peak and hopefully decline as we head into next year. Good for home prices.


If you are considering selling your let us connect.


#cummingrealestate #cummingga #southforsythhighschool #Greystonemanorrealestate



#cummingrealtor #cummingrealtor #cummingrealestateagent #ldsrealtorinatlanta  #cumminggatedcommunity



Sept. 14, 2023

Top Producing Realtor John Foster recognized by Keller Williams as a top performing Real Estate Agent

Congratulations to John Foster, Realtor with Keller Williams

Congratulations to John Foster for ranking as the #16 Top Producing Agent out of over 15,800 in the Award-Winning Keller Williams Realty Southeast Region!!! We are so proud to be in business with you, what an AMAZING accomplishment!!


🥳☺️ #kw #KWAP #KWSouthForsyth #MegaAgent #topproducer #KWSF #realestateagent #ldsrealtor

Sept. 12, 2023

Atlanta 1 minute Real Estate Update by John Foster, Realtor

The Atlanta Real Estate Update in 1 minute (actually 2 minutes) 

By John Foster, Realtor serving Atlanta for 20+ years.



Enjoy this 2 minute video where John Foster highlights the change in average sales price and discusses inventory levels in Atlanta Georiga.  He also provides insights as to how an experienced agent looks at the market.  Here is how John Evaluates Months supply of Inventory.


#Atlantarealtor #atlantarealestate

Sept. 8, 2023

Home Price Forecasts Updated for Rest of 2023

Home Price Forecasts Revised for 2023 

Some Highlights

  • Last year, some housing experts projected a decline in home prices by the end of 2023. But that didn’t happen – inventory was just too low.
  • While it’s normal for experts to re-forecast throughout the year, the good news for 2023 is that prices are no longer projected to decrease.
  • Let’s connect so you know what’s happening with home values in our local area.




Sept. 1, 2023

Just Listed in Cumming Ga - Ansley Park Community

New Listing and Open House in Cumming Ga

By John Foster, Realtor with Keller Williams Realty

Your invited to the open house on this new listing in Cumming Ga!.  Located at 7560 Easton View ct, Cumming Ga 30028- the open house will be this Sunday 9/3/23 from 1-3pm.  If you need directions call John Foster at 770 722-7010.  

Who do you know that wants to live in our area?



See the newest listings in Cumming Ga- click Here. 

Aug. 31, 2023

Coming Soon Home for Sale in Gainesville

Home for sale in Gainesville Ga, in Forsyth County

Award Winning Forsyth County School System.

First Showing is Saturday.  Click Here to see more photos and the listing

Coming Soon Home for sale in Gainesville Ga

If you or anyone you know is interested in this home please complete the form below and we will be in touch.  


Aug. 31, 2023

Coming Soon Home for sale in Cumming Ga

New listing in Cumming Ga

5 bedroom 4 full bath home for sale in Cumming Ga.  First showings are Saturday.

$624,900.   Click here to see description and photos


Posted in Buying a Home
Aug. 30, 2023

Is Now a Good Time to Sell My Home?

Posted in Market Updates