Alpharetta & Cumming Real Estate Update

By John Foster, Realtor at Keller Williams 770 722-7010

Jan. 24, 2023

Atlanta House Market - January 2023 Update

As we enter 2023, Georgia’s housing market continues to be desirable.  Our state attracts both individuals & businesses. Now the 8th most populous state, Georgia was the 4th highest state for population growth last year. This activity creates economic activity and demand for housing & supports a solid housing market. 

I expect this growth to continue fueling strong demand for houses in 2023.This is a positive if you are considering selling your home. For buyers, we anticipate inventory to remain lower than historical averages, although not as drastically low as we have seen over the past couple of years.

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If you're thinking about selling your house, recent headlines about home prices falling month over month may have you second guessing if you should sell your home now.  Perspective matters.  What I see going on right now is the market in the Alpharetta, Cumming, Milton & Suwanee areas remains a Seller's Market, even if it is a slight seller's market right now.  

 

What’s Really Happening with Home Prices? What’s Really Happening with Home Prices? [INFOGRAPHIC] | MyKCM

Some Highlights

  • While home prices are down slightly month-over-month in some markets, home values are still up almost 10% nationally on a year-over-year basis. A nearly 10% gain is still dramatic compared to the more normal level of appreciation, which is 3-4%.
  • Let’s connect to find out how much equity you have in your current home and how you can use it to fuel your next purchase.  Call or text me at 770 722-7010 to discuss your goals in real estate. 

 

Jan. 13, 2023

What are your Priorities in 2023?

What are your priorities in 2023? 

Your home should be a place that helps you achieve your goals. 

If a move is in store for you, or anyone your know, let’s connect so you can find a space with the features you need this year and beyond.  Call or text me at 770 722-7010.

 

Jan. 13, 2023

Interest Rates Drop below 6%

Here is an update on Interest Rates from Wells Fargo.  I am happy to see rates dip below 6%.

If you, or anyone you know, is considering buying/selling a home please let me know.  Interest rates have a large impact on the monthly payment so the lower the interest rate the better.  Last year the rate peaked at a little over 7% and I saw that stall the market.  Below 6% is good.

 

Jan. 13, 2023

Buying a home in Suwanee? Here are key terms to know when buying a home

Key Terms To Know When Buying a Home 

Key Terms To Know When Buying a Home [INFOGRAPHIC] | MyKCM

Some Highlights

  • Buying a home is a major transaction that can seem even more complex when you don’t understand the terms used throughout the process.
  • If you’re looking to become a homeowner this year, it’s important to know these housing terms and how they relate to the current market so you feel confident throughout the homebuying process.
  • Let’s connect so you have expert answers for any questions as they come up.
  • Call/Text or Email John Foster at 770 722-7010 or email JohnSellsAtlanta@outlook.com  - 
Dec. 17, 2022

2023 Housing Market Forecast

2023 Housing Market Forecast

From home sales to prices, the 2023 housing market will be drive by what happens with interest/mortgage rates. And where rates go depends on what happens with inflation.

If you’re thinking of buying or selling a home this year, DM me below so you understand where the housing market is headed in 2023 or text me at 770 722-7010.

 

Dec. 14, 2022

10 Housing Markets Expected to Lead the Nation in 2023

10 Housing Markets Expected to Lead the Nation in 2023

December 13, 2022

All eyes are on the South, where home affordability, job and population growth and inventory levels are strongest heading into the new year.

  

Atlanta looks to be the housing market in the U.S. with the most potential for growth in the new year, according to researchers at the National Association of REALTORS®.

The city, dubbed the “New York of the South,” rose to the top of NAR’s list of markets to watch in 2023 for three main reasons: Atlanta has greater housing affordability than comparable cities, its population is growing more rapidly and 20% of renters there can afford to buy a median-priced home—higher than the national average—the NAR report notes. Atlanta also boasts a robust and growing job market, where many major technology companies, such as Apple, Microsoft and Visa, are relocating from the West Coast.

Even against the backdrop of a national housing slowdown, the South is expected to remain a booming region for home sales in 2023. “The demand for housing continues to outpace supply,” says NAR Chief Economist Lawrence Yun. “The economic conditions in place in the top 10 U.S. markets—all of which are located in the South—provide the support for home prices to climb by at least 5% in 2023.”

NAR identified the following top 10 real estate markets to watch next year:

1.       Atlanta-Sandy Springs-Marietta, Ga.

2.     Raleigh, N.C.

3.      Dallas-Fort Worth-Arlington, Texas

4.     Fayetteville-Springdale-Rogers, Ark.-Mo.

5.      Greenville-Anderson-Mauldin, S.C.

6.     Charleston-North Charleston, S.C.

7.     Huntsville, Ala.

8.     Jacksonville, Fla.

9.     San Antonio-New Braunfels, Texas

10.  Knoxville, Tenn.

NAR identified these markets by weighing multiple factors and comparing them to national levels, including:

· Housing affordability

· The number of renters who can afford to buy a median-priced home

· Job growth

· Migration gains and population growth

· An increase in active housing inventory

· Less severe housing shortages

I specialize in the North Atlanta Suburbs of Alpharetta, Cumming, Milton & Suwanee.  Sales in our area are driven by great school, great hospitals, close to Lake Lanier and jobs continuing to come to the area.  If you, or anyone you know, wants to talk about the Real Estate market or are planning to buy, seller or invest in real estate, please let me know at 770 722-7010 or John.Foster@kw.com.

Source – Realtor.com – reproduced with permission  By: Melissa Dittmann Tracey with Realtor.com

Dec. 13, 2022

10 Anti-Burglary Tips for your home

10 Anti-Burglary Tips

for Homeowners

Dec. 2, 2022

The Winter Home Selling Checklist from John Foster, Realtor with Keller Williams Realty.

The Winter Home Selling Checklist from John Foster, Realtor with Keller Williams Realty.

Winter Home Selling Checklist [INFOGRAPHIC] | MyKCM

Some Highlights

  • As you get ready to sell your house, focus on tasks that make it inviting, show it’s cared for, and boost your curb appeal.
  • This list will help you get started, but don’t forget, I am happy to walk through your home and let you know what I recommend to "net" you the most money.  I am happy to provide  helpful tips based on your specific situation and a return on your investment.
  • Let’s connect so you have advice on what you may want to do to get your house ready to sell this season.  Call or text me John at 770 722-7010 or email me at John.Foster@kw.com
Nov. 10, 2022

3 questions you may be asking yourself about Selling your home in Todays Market.

3 questions you may be asking yourself about Selling your home in Todays Market with a market update for Alpharetta, Cumming, Milton and Suwanee Ga.
3 Question to ask yourself about selling your home today
The first item I look at when examining the health of any real estate market is the months supply of inventory (think homes for sale). This tells me who has most of the negotiating power at any point in time.
At the end of September on a national average there is a 3.2 month supply of homes for Sale.
In our market - the months supply of homes in Alpharetta, Cumming Suwanee and Milton at the end of October 2022 is shown in the graph below.
The graph shows the inventory levels for Alpharetta, Cumming and Suwanee Ga are at 2 months or below while the months supply of Inventory in Milton is about 3.5 months supply.
A sellers market is considered anything where the months supply of homes is below 6 months so all four of the areas remain in a strong sellers market.
If you want to know the market in your community - feel free to email me at John.Foster@kw.com or text (or call) me at 770 722-7010.

 

 

 

 

 

Some Highlights

  • If you’re planning to sell your house this year, you likely have questions about what the shift in the housing market means for your home sale.
  • You might be wondering: Should I wait to sell? Are buyers still out there? And can I afford to buy my next home?
  • Let’s connect so you can get answers to these questions and learn about the opportunities you still have in today’s housing market. Call or text me at 770 722-7010.
Oct. 21, 2022

3 Important Questions About Selling Your House Today by John Foster, Realtor serving Cumming Ga

3 Questions You May Be Asking About Selling Your House Today 

3 Questions You May Be Asking About Selling Your House Today [INFOGRAPHIC] | MyKCM

Some Highlights

  • If you’re planning to sell your house this year, you likely have questions about what the shift in the housing market means for your home sale.
  • You might be wondering: Should I wait to sell? Are buyers still out there? And can I afford to buy my next home?
  • Let’s connect so you can get answers to these questions and learn about the opportunities you still have in today’s housing market. Call or text me at 770 722-7010.