The Real Estate Update 

 

June 21, 2024

Considering Selling Your Home without an Agent?

Considering Selling Your Home without an Agent?

If you are considering selling your home without using and agent consider the pros and the cons:

Pros:

If you sell your home yourself you can Save the Commission you would have paid your agent.  The question is what is your goal?  Is it to not pay a Realtor or to Net the Most Money or Avoid some of the stress and hassles that come with selling a home.

Even if you sell your home without an agent are you sure you are getting the most money for your home.  Did you know a home sold without using a Realtor sells for about 24% less than those listed and sold with a licensed real estate agent.  (2003 Profile of Home Buyers and Sellers from NAR)

Cons:

I think the biggest con is for most people selling their home is their biggest asset and the exposure to pricing it wrong or making a mistake can be big.  You should know there are some major downsides. 

You’d miss out on marketing tools, expert pricing, top-notch negotiation skills, and the know-how to handle all the fine print. Why take on all that stress alone? Let’s chat and make sure you have the support you need.

There are safety issues and someone to bounce ideas off - my advice is talk to John Foster today if you life in North Atlanta.

If you decide to go FSBO - ask for My FREE book entitled For Sale By Owner Guide - it is really helpful.

Do not underestimate negotiation skills specifically used by Realtors. Knowing the emotions of the buyer or seller is a huge help.

Why take on all that stress alone?

Let’s chat and make sure you have the support you need. Call or Text Realtor John Foster today at 770 722-7010.

#HOMESFORSALECUMMINGGA #realestatetips #confidentdecisions #keepingcurrentmatters #HOWDOiSELLMYHOMEWITHOUTANAGENT #HOWTOSELLMYHOMEbsbo #fsbo #opendoor

June 12, 2024

Home Prices are up compared to Last year

Home Prices Aren’t Declining, But Headlines Might Make You Think They Are

If you’re seeing headlines about sellers slashing prices and are worried about what that means for home values, let's clear things up. 

There’s a difference between the asking price and the sold price. 

While more sellers are adjusting their asking price, that’s a signal of moderating demand – not falling home values. 

As this graphic shows, actual sold prices are still climbing.

 

In Fact, in the Atlanta Market average sales price is up 3.4%.  

Do you want to know how much equity you have in your home?  Call/text or email me today!!

John.Foster@kw.com or 770 722-7010.

 




The bottom line is home prices are higher than they were a year ago at this time, and they’re expected to keep rising, just at a slower pace.

But a recent article from Redfin notes,

“Price Drops Hit Highest Level in 18 Months As High Rates Dampen Buyer Demand.”

And that might make you think prices are declining.

Now, while it’s true the latest report from Realtor.com also shows 16.6% of homes on the market had price reductions in May, which is up from 12.7% last May, that doesn’t mean overall home prices are falling.

The key is knowing the difference between the asking price and the sold price.

Understanding Asking Price vs. Sold Price

In essence, the asking price, also known as a listing price, is the amount a seller hopes to get for their home when they list it. In reality, sellers can’t just put any price tag on their house and expect it to sell for top dollar. Today’s buyers are savvy customers, and when they aren’t willing to pay a premium for a home because their budgets are strained by higher mortgage rates, sellers need to adjust. And that’s what’s happening right now.

Based on market factors and what offers that seller receives, that asking price can change. If a seller isn’t getting much foot traffic, you may see them revise the price and make an adjustment to reignite interest in the home – and sometimes that’s because they’ve overpriced it from the start. That’s where price reductions come in, and when you see “price drops” in a headline, it sounds like declining home prices.

Mike Simonsen, CEO and Founder of Altos Researchsays:

“Not only is the share of homes with price cuts elevated compared to one year ago, but more price cuts are happening each week than last year.”

On the other hand, the final sold price is the amount a buyer actually pays when the transaction is complete.

Here’s the most important thing to noteActual sold prices are still rising, and they’re expected to continue to do so at least over the next 5 years.

What Does This Mean for Home Prices?

So, while there's been an increase in price reductions recently, this doesn't mean overall home values are declining. Instead, it’s a sign that demand is moderating. And, as a result, sellers are adjusting their expectations to align with today's market reality.

Even with more price reductions, home values are still growing on an annual basis, as they do nearly every year in the housing market. According to the Federal Housing Finance Agency (FHFA), home prices went up 6.6% over the last year (see below):No Caption Received

 

This map shows how prices rose just about everywhere in the country, indicating the market is not in decline.

So, while seller price reductions are often a leading indicator that prices may moderate in the months ahead, which experts have been saying for a while is expected to happen, they aren’t necessarily reason for alarm. The same article from Redfin also states:

“. . .those metrics suggest sale-price growth could soften in the coming months as persistently high mortgage rates turn off homebuyers. For now, the median-home sale price is up 4.3% year over year to another record high. . .”

And with inventory as tight as it is today, price moderation is much more likely in upcoming months than price declines.

Why This Is Good News for Buyers and Sellers

For buyers, more realistic asking prices mean a better chance of securing a home at a fair price. It also means you can enter the market with more confidence, knowing prices are stabilizing rather than continuing to skyrocket.

For sellers, understanding the need to adjust your asking price can lead to faster sales and fewer price negotiations. Setting a realistic price from the start can attract more serious buyers and lead to smoother transactions.

Bottom Line

While the uptick in price reductions might seem troubling, it’s not a cause for concern. It reflects a market adjusting to new conditions. Home prices are continuing to grow, just at a more moderate pace. Call Realtor John Foster at 770 722-7010 if you are considering selling your home in North Atlanta Cities of Alpharetta, Cumming, Milton, Johns Creek or Suwanee.

#homeprices #housingmarketupdate #keepingcurrentmatters #howdoIsellmyhome #cumminglistingagent #suwaneelistingagent #alpharettalistingagent #ldschurchinatlanta #movingtoatlanta

June 11, 2024

Atlanta's Home Sellers Guide - updated for Summer 2024

Summer Home Seller Guides are Available Now!!

Download your FREE home Seller's Guide from Realtor John Foster - Click HERE

If you’re thinking about buying or selling a home in Atlanta Ga, Specifically Alpharetta, Cumming, Johns Creek, Milton or Suwanee, you want to be sure you have the information you need to make a confident decision. Enter the Summer Buyer and Seller Guides by Realtor John Foster.  

The guides combine data on the biggest trends in the market, expert insights, and more. DM me to get a copy today at 770 722-7010 or John.Foster@kw.com.  

Home Seller's Checklist:

Everyone seems to want a checklist for Selling their home.  Well in my Seller's Guide - you will get a checklist for preparing your home for sale.  Here is the table to contents.  It is FREE so to download your copy today CLICK HERE.

In our area the market is changing.  The supply of homes is increasing as I would expect this time of year.  That gives people selling their homes much better options when buying a home if you are staying in our area.

If you are selling your home and are ready to interview agents for the job of selling your home - I would love to interview.  Call or text me at 770 722-7010.

If you want to get to know me a little better - click here to Meet John Foster, Realtor

 

 

 

 

 

#buyingahome #sellingyourhouse #keepingcurrentmatters #Cumminghomes for sale, #Alphareattahomesforsale #suwaneehomesforsale #AlpharettaRealtorJohnFoster #cummingrealtor #Suwaneerealtor  #howdoIsellmyhome 

June 10, 2024

Atlanta Real Estate Update - June 2024

The Atlanta Real Estate Update for June 2024.

Comparing May 2024 vs May 2023 for the Entire FMLS area of Atlanta

 

If you want to follow your community each month - visit www.GreatAtlantaHomes.com - see the sidebar on the right.  If you do not see your subdivision - email me and I will be happy to set it up for your.

Here is how to evaluate the months supply of homes for sale.

#movingtoatlanta #bestrealtorinatlanta @atlantaldsagent @ldschurchinatlanta #Atlantarealtor #atlantarealestate

#johnfosterrealtor #bestlistingagentinsuwanee

June 7, 2024

10 Staging Secrets From the Pros for a Quick Home Sale at Top Dollar

10 Staging Secrets for a

Quick Home Sale at Top Dollar

Contact John Foster, Realtor with Keller Williams 770 722-7010

The Real Estate Staging Association estimates that professionally staged properties spend 73 percent less time on the market, receive more foot traffic, and typically sell for more money.2  According to the National Association of Realtors (i.e. "NAR), staging a home prior to listing it can result in a faster and more profitable sale.

Here are the top 10 tips you can use to get your home “show ready” prior to hitting the market. These easy and cost-effective ideas will help your house look its best—and help buyers visualize themselves living there. Even if you’re not currently in the market to sell, you can use these tactics to breathe new life into your existing home decor.

If you want a professional Realtor with 20+ years to answer specific questions, do not hesitate to call or text me at 770 722-7010.  It is a free consultation. I'm be happy to share my insider knowledge of the buyer preferences in your neighborhood … so you’ll know where to focus your time, money and energy to maximize your results.

1. De-CLUTTER

Decluttering is typically the first thing we tell clients to do to prepare their home for sale. And according to the National Association of Realtors, a whopping 93 percent of agents agree.1 Decluttering is the act of removing excess “stuff” from your home to make it appear clean and spacious.  

Overflowing closets and cluttered countertops can make your house feel small and cramped. In contrast, sparsely-filled closets and clear countertops will make your home appear larger and assure buyers that there will be plenty of room to store their belongings.

Don’t neglect drawers, cupboards and even your refrigerator in your decluttering efforts. Serious buyers will check out every nook and cranny of your home, so pack up anything you don’t use on a daily basis and store it off site. The same goes for jewelry, sensitive documents, prescription medication, firearms and other items of value. Store them in a locked safe or storage unit before opening your property to buyers.

2. DEEP CLEAN AND DEODORIZE

From carpets to bathrooms to appliances, having a clean home is a MUST. If you’ve ever checked into a dirty hotel room, you can imagine how buyers can be turned off by a home that hasn’t been thoroughly cleaned.

 If you have a large home, or are short on time, you may want to invest in a professional cleaning service. And if you have carpet, we generally recommend you rent a steam cleaner or hire a company to clean your carpets for you.

In addition to cleaning, it’s equally important to neutralize odors in your home that can be off-putting to buyers, especially pet smells and cigarette smoke. If the weather allows, open your windows and let in fresh air. Empty the trash frequently, and especially before a showing. Avoid cooking any strong-smelling food such as fish or heavy spices. You may need to clean (or remove) drapes and upholstery if odors are particularly strong.

One last item - do NOT forget to check your basement for smells.  If it has a moldy or mildew smell that is a major turn off to buyers.  Running a dehumidified helps a lot.  If you need advice - do not hesitate to call or text me (John Foster) at 770 722-7010. 

Try to keep your home in clean, show-ready condition while it’s on the market. You never know when a potential buyer will want to drop by for a viewing.

3. DEPERSONALIZE

Your family photos and personal mementos are often your most treasured possessions. For many of us, they are what make a house a home. However, buyers will have a hard time envisioning themselves living in a place if it feels like YOUR home.

 Pack up any items that are personal to you and your family, such as photos, books, children’s artwork, travel souvenirs and religious items. Collectibles and excessive knickknacks can be distracting to buyers. Instead, keep your decor items minimal and generic to appeal to the largest number of buyers.

4. NEUTRALIZE YOUR COLOR PALETTE

Along those same lines, bold color choices may not appeal to all buyers. By incorporating a neutral color palette throughout your home, buyers can better visualize the addition of their own furniture and decor, which may contrast with your current color scheme.  We want your home to appeal to as many people as possible.

But don’t limit yourself to white and beige. Incorporating earth tones and midtone neutrals—like mocha and “greige” (grey-beige)—can add a touch of modern sophistication to your decor.3

5.  INCREASE YOUR CURB APPEAL

You only get one chance to make a first impression. According to a 2017 report by the National Association of Realtors, 44 percent of home buyers drove by a property after viewing it online but did NOT go inside for a walkthrough.5 That means if your curb appeal is lacking, buyers may never make it through the door.

Walk around your home and look for any neglected areas that might seem like “red flags” to buyers, such as missing roof shingles or rotted siding. Trim trees and shrubs if needed, and make sure your lawn and flower beds are well maintained. Add some colorful flowers to your front beds and/or flower boxes to brighten up your landscaping.

Make sure the exterior of your home is as clean as the interior. This can often be accomplished with a simple garden hose. But if your siding, walkway, or driveway are stained or dingy, you may want to rent a pressure washer.

Thoroughly wash windows and screens, and remove and store dark solar screens if you have them. Open shutters, curtains and blinds, which will not only make your house look more inviting from the outside, it will brighten the inside.  One obvious item it to keep the yard cut and edged.

Consider a fresh coat of paint on your front door, trim and shutters. And small, cosmetic improvements like new house numbers, a colorful wreath and a clean front doormat can have a big impact.6

6.  FRESHEN KITCHENS AND BATHS

Buyers often imagine hosting family gatherings in their new home, and the dining room plays a large role in that vision. If your dining room chairs are stained or outdated, you may want to recover them or use slipcovers. In most cases, an imperfect table can be camouflaged with a neutral and stylish tablecloth. 

Kitchens and bathrooms will show better and appear larger if all items are cleared from the countertops, except for one or two decorative pieces.7 You should have already packed up non-essentials during your decluttering process, and the remaining items should be neatly stored in pantries and cupboards. 

Be sure the table is centered underneath the chandelier and on the area rug if you’re using one. If your dining room is small, remove all other furniture and leave only four chairs.8  Dress up the table using nice tableware and cloth napkins or a table runner and centerpiece. For a long table, try lining up a series of small vessels down the middle.

If your cabinets are dingy or outdated, adding a fresh coat of paint and new hardware is an easy and inexpensive way to make them modern and bright. Consider purchasing new shower curtains, bath mats and towels for the bathrooms and new dish towels for the kitchen.

Before each showing, make sure kitchens and baths are spotless and trash cans are empty and out of sight. To add a comforting aroma, try baking cookies, or in the fall, simmer some cinnamon sticks and cloves in a pot of water before you leave the house. In the spring, try a vase of fresh cut lilacs.7

One Final Word about the importance of Kitchens.  The kitchen is one of the two rooms I consider most important in selling a home.  Homebuying decisions are often made in the kitchen so it is very important not to overlook the kitchen.

7.  REARRANGE FURNITURE

Start in your living room and think about what you want to emphasize (and de-emphasize) about the space. For example, do you have a beautiful fireplace or a stunning view? If so, arrange the furniture with that focal point in mind. Use a symmetrical seating arrangement to create a cozy conversation area adjacent to the focal point.

If the room is small, consider removing some of the furniture to make it feel larger, especially oversized pieces. That includes oversized television sets, unless it’s a designated media room. Pulling furniture away from the wall can make the room feel more spacious, and placing your largest furniture piece in the far-left corner (as opposed to near the entry) can create the illusion of a larger space.9 

For small bedrooms, remove all the furniture except the bed, bedside tables and a dresser. If it’s a large room, add one or two chairs and a table to create a seating area. Place lamps on the bedside tables and seating area if you have one.10

Make sure each space in your home has a clearly defined purpose. For example, if you’ve been using an extra bedroom as a catch-all storage space, stage it as a guest room or office instead. Turn an awkward alcove into a workstation or a reading corner. Help buyers imagine how they could use the space themselves.3

8.  LIGHTEN UP 

Lighting can have a drastic impact on the look and feel of a home. Few buyers seek out a dark house; most prefer one that’s light and bright. Make sure windows are clean, and open curtains and blinds to let in the maximum amount of daylight.

Each room should have three types of lighting: ambient (general or overhead), task (such as a reading lamp or under-cabinet light), and accent (such as a floor or table lamp). Aim for a goal of 100 total watts per 50 square feet.11 If your mounted light fixtures are dated, replacing them with something more modern is an easy and inexpensive upgrade that can have a big impact.

Strategically placed landscape lighting can add a dramatic effect to your home’s exterior. Welcome evening visitors with a lighted walkway, or use a spotlight to accentuate trees or other landscaping features. Solar lights require no wiring; simply place them in a sunny spot and they will turn on automatically at dusk.

9.  HIGHLIGHT YOUR BACKYARDS BEST FEATURES 

While your home’s interior often takes center stage, don’t forget about staging your home’s outdoor areas to help buyers imagine how they could utilize the space. 

Even a small patio can become a selling feature with the addition of a cafe table and chairs. Add a tray of plates and coffee cups to help buyers envision a peaceful breakfast on the back porch. Place chairs and wine glasses around an outdoor firepit or hang a hammock with a book in your favorite shady spot.3 These small, simple additions can help buyers visualize the possibilities your backyard has to offer.

10.  FIX ANYTHING BROKERN

Think first impressions, does the doorbell work, is there a kickplate on the door, are the steps to the front door separating from the landing.  When a buyer looks at a home that home has made the first cut which means the location, price and size are acceptable to the buyer.  Now what sells a home if the "feel of the home".  If a buyer walks through a home if the notice too many items that need repairing I often see their mind flip into looking for additional items that are wrong with the home instead of envisioning it becoming their home.

Simple items include making sure all the lights work, that the smoke alarm is not beeping because of a dead battery, the heater/air conditioner is working, no broken windows, doors open and close correctly, sliding glass doors work, the deck is safe to walk on and no trees have fallen on the home.  Common sense goes a long way in selling homes.  The best advice I can give you to is think about when you bought the home and why you selected that home compared to others.

If you look at flooring and paint and ask yourself should I replace this or let the buyer do it?  It is very common.  What I see often is a buyer often doubles or triples the cost of a project or repair in their heads.  Yes the buyer might plan on changes after moving in and that is fine.  What you want to do is have the best home for the price you are selling. 

A home does not have to be in perfect shape to sell it.  It does need to be priced based on the condition of the home.  Some items are simple to correct - a rusted AC grate is a couple of dollars at Home Depot - that is a great return on investment.  Cutting down a tree that has grown up next to the home and removing mold are more difficult and more expensive to handle.  Homes can and do sell with these issues, just realize it impacts the sales price and who the likely buyer will be.  

I recommend doing the items that have the best return on investment and impact the ability to sell a home.  Feel free to contact me if you want to discuss specific items.  

  BEFORE YOU GET STARTED GET YOUR FREE HOME SELLER'S GUIDE

If you’re in the market to sell your home, the top 10 above provides a great starting point for your preparations. But nothing beats the trained eye and expertise of a great Realtor. Before you do any work, we recommend consulting a professional for advice about your particular property.  Call John Foster, Full Time Realtor since 2003 at 770 722-7010 if you live in North Atlanta. 

John Foster is a full time Realtor in Atlanta Ga and offers a free, no-commitment seller consultations and will walk through your home with you to help you assess which projects and upgrades are worth your time and money, and which ones you can skip.

You want a local market expert, who is intimately familiar with buyer preferences in your area. John will run a comparative market analysis to find out how your home compares to others currently on the market, as well as those that have recently sold. Then we’ll tailor a custom plan to suit your particular property, budget and needs.

Download John's FREE HOMESELLER'S GUIDE TODAY by Clicking HERE  If you're in the process of preparing your home for sale, make sure you have my FREE Home Sellers Guide - it will provide you the information to make confident decisions.  Click here to download your Copy now. 

 

Please call or email John today with questions or to schedule a free consultation!

John Foster, Realtor

770 722-7010

John.Foster@kw.com

 

Follow John on YouTube - here are recent videos by John

 

 

 

 

 

 

Real Estate Questions answered in this article include how do I prepare my Suwanee home for sale, how do I stage my home for sale, do I need to stage my Alpharetta Home to sell it?  Do I need to stage my home if I live in Cumming Ga, Best list to prepare my home for sale, #Alpharettarealestate #CummingRealEstate #Suwaneerealestate #ldsrealtorinatlanta #ldstemple

 

 

 

 

 

 

 

 

 

 

 

Sources:

 

1.     National Association of Realtors –
https://www.nar.realtor/sites/default/files/migration_files/reports/2017/2017-profile-of-home-staging-07-06-2017.pdf

2.     Real Estate Staging Association –
http://www.realestatestagingassociation.com/content.aspx?page_id=22&club_id=304550&module_id=164548

3.     Houzz –
https://www.houzz.com/ideabooks/2661221/list/sell-your-home-fast-21-staging-tips

4.     HGTV –
https://www.hgtv.com/design/outdoor-design/landscaping-and-hardscaping/10-curb-appeal-tips-from-the-pros-pictures

5.     National Association of Realtors –
https://www.nar.realtor/sites/default/files/reports/2017/2017-home-buyer-and-seller-generational-trends-03-07-2017.pdf

6.     The Spruce –
https://www.thespruce.com/must-try-neutral-paint-colors-797983

7.     HouseLogic –
https://www.houselogic.com/sell/preparing-your-home-to-sell/home-staging-checklist/

8.     StageMyOwnHome.com –
http://www.stagemyownhome.com/staging-the-dining-room.html

9.     Realtor.com –
https://www.realtor.com/advice/sell/small-living-room-staging-tricks/

10.   SFGATE –
http://homeguides.sfgate.com/stage-master-bedroom-34573.html

11.   HGTV –
https://www.hgtv.com/shows/designed-to-sell/15-secrets-of-home-staging-pictures

May 31, 2024

Top Reasons To Own a Home

Today's market can feel like a lot to navigate, but these reasons show why homeownership is worth it if you’re ready and able to buy. 

When you want to enjoy these amazing advantages, I’m here to help guide you through the process.

#realestatetips #homeownership #keepingcurrentmatters #cumminghomesforsale #alpharettahomesforsale #mls #suwaneehomesforsale #ldstemple, #johnfosterrealtor

May 30, 2024

The Biggest Mistakes I see Buyers Making Today

The 5 Biggest Mistakes I see Buyers Making Today




Buyers face challenges in any market – and today’s is no different. With higher mortgage rates and rising prices, plus the limited supply of homes for sale, there’s a lot to consider.

But, there's one way to avoid getting tripped up – and that’s leaning on a real estate agent for the best possible advice. An expert’s insights will help you avoid some of the most common mistakes homebuyers are making right now.

1.  Putting Off Pre-approval

As part of the homebuying process, a lender will look at your finances to figure out what they’re willing to loan you for your mortgage. This gives you a good idea of what you can borrow so you can really wrap your head around the financial side of things before you start looking at homes. While house hunting can be a lot more fun than talking about finances, you don’t want to do this out of order. Make sure you get your pre-approval first. As CNET explains:

“If you wait to get preapproved until the last minute, you might be scrambling to contact a lender and miss the opportunity to put a bid on a home.”

2.  Holding Out for Perfection

While you may have a long list of must-haves and nice-to-haves, you need to be realistic about your home search. Even though your ideal state is you find a home that checks every box, you may need to be willing to compromise – especially since inventory is still low. Plus, a home that has everything you want may be too pricey. As Investopedia puts it:

When you expect to find the perfect home, you could prolong the homebuying process by holding out for something better. Or you could end up paying more for a home just because it meets all your needs.”

Instead, look for something that has most of your must-haves and good bones where you can add anything else you may need down the line.

3.  Buying More House Than You Can Afford

With today’s mortgage rates and home prices, there’s no arguing it’s expensive to buy a home. And while it may be tempting to stretch your finances a bit further than you’re comfortable with to make sure you get the house, you want to avoid overextending your budget. Make sure you talk to your agent about how changing mortgage rates impact your monthly payment. Bankrate offers this advice:

“Focus on what monthly payment you can afford rather than fixating on the maximum loan amount you qualify for. Just because you can qualify for a $300,000 loan doesn’t mean you can comfortably handle the monthly payments that come with it along with your other financial obligations. Every borrower’s case is different, so factor in your whole financial profile when determining how much house you can afford.”

4.  Not Working with a Local Real Estate Agent

This last one may be the most important of all. Buying a home is a process that involves a lot of steps, paperwork, negotiation, and more. Rather than take all of this on yourself, it’s a good idea to have a pro, like John Foster, working with you. John knows the North Atlanta market and has 20 plus years experience.  The right agent like John Foster  will reduce your stress and help the process go smoothly. As CNET explains:

Attempting to buy a home without a real estate agent makes the process more arduous than it needs to be. A real estate agent can give you professional legal guidance, market expertise and support, which will save you time, money and stress. They can also increase your chances of finding the right home so you don’t have to spend hours scouring the internet for listings.”  

Bottom Line

Mistakes can cost you time, frustration, and money. If you want to buy a home in today’s market, let’s connect so you have a pro on your side who can help you avoid these missteps.

May 23, 2024

Popular Questions About Selling Your House in Atlanta Ga

Popular Questions About Selling Your House in Atlanta Ga

By John Foster, Keller Williams Realtor

(Data on the real estate market in Alpharetta Ga, Cumming GA, Milton Ga and Suwanee Ga)




No denying mortgage rates are having a big impact on today’s housing market. And that may leave you with some questions about whether it still makes sense to sell your house and make a move.

Here are three of the top questions I am asked – and the data that helps answer them.

1. Should I Wait To Sell?

If you’re thinking about waiting to sell until after mortgage rates come down, here’s what you need to know. So are a ton of other people.

And while mortgage rates are still forecasted to come down later this year, if you wait for that to happen, you may be dealing with a lot more competition as other buyers and sellers jump back in too. As Bright MLS says:

“Even a modest drop in rates will bring both more buyers and more sellers into the market.”

That means if you wait it out, you’ll have to deal with things like prices rising faster and more multiple-offer scenarios when you buy your next home.

I feel you "marry the house and date the mortgage".  If you find a house you love but it and if rates go down refinance, if they go up you will be happy with the rate you got when your bought your home.  

2. Are Buyers Still Out There?

But that doesn’t mean no one is moving right now. While some people are holding off, there are still plenty of buyers active today. And here’s the data to prove it.

The ShowingTime Showing Index is a measure of how frequently buyers are touring homes. The graph below uses that index to show buyer activity for March (the latest data available) over the past seven years:No Caption Received

You can see demand has dipped some since the "unicorn years" (shown in pink). That’s in response to a lot of market factors, like higher mortgage rates, rising prices, and limited inventory. But, to really understand today’s demand, you have to compare where we are now with the last normal years in the market (2018-2019) – not the abnormal ‘unicorn’ years. 

When you focus on just the blue bars, you can get an idea of how 2024 stacks up. And that gives you a whole new perspective.

Nationally, demand is still high compared to the last normal years in the housing market (2018-2019). And that means there’s still a market for your house to sell.

Locally, here is what I am seeing in the areas of town I specialize in:

In Alpharetta Ga, Cumming Ga, Milton Ga and Suwanee Ga through the end of April the median days on market for a home to go under contract ranges from 4 days to 7 days.  Note some prices points take longer.  Additionally, in April 2024 of median percent of list price for homes that sold was 100% - this tells me there are plenty of buyers wanting to buy in our area.  Here is the median days on market for the past year.

3. Can I Afford To Buy My Next Home?

And if you’re worried about how you’ll afford your next move with today’s rates and prices, consider this: you probably have more equity in your current home than you realize.

Homeowners have gained record amounts of equity over the past few years. And that equity can make a big difference when you buy your next home. You may even have enough to be an all-cash buyer and avoid taking out a mortgage altogether. As Jessica Lautz, Deputy Chief Economist at the National Association of Realtors (NAR), says:

“ . . . those who have earned housing equity through home price appreciation are the current winners in today's housing market. One-third of recent home buyers did not finance their home purchase last month—the highest share in a decade. For these buyers, interest rates may be less influential in their purchase decisions.”

Bottom Line

If you’ve had these three questions on your mind and they’ve been holding you back from selling, hopefully, it helps to have this information now. A recent survey from Realtor.com shows more than 85% of potential sellers have been considering selling for over a year. That means there are a number of sellers like you who are on the fence.

But that same survey also talked to sellers who recently decided to take the plunge and list. And 79% of those recent sellers wish they’d sold sooner.

If you want to talk more about any of these questions or need more information, let’s connect. Call, text or email me (Realtor John Foster) at 770 722-7010 or John.Foster@kw.com.  

Download My FREE Things to Consider when Selling your home to contact me and I will email you a PDF of the booklet.  It contains the 2 Must-Dos when Selling your Atlanta Home in this Market.

 

If you are considering selling your home in the North Atlanta towns of Alpharetta, Buford, Cumming, Johns Creek, Milton, Sugar Hill or Suwanee - I would love to interview for the job of being your Realtor.  Here is what some of my recent Client's have posted about my work and about me.

If you want to get to know Realtor John Foster a little better, click on the following link:

Meet John Foster, Keller Williams Realtor - Click Here

See John Foster, Real Estate Agent's YouTube Channel - Click Here

 

#realestateagentinalpharettaga #realestateagentincummingga #realestateagentinMiltonGa #realestateagentinSuwaneega #bestrealtornearme #bestreatlorinAlpharetta #bestreatlorincummingga #bestreatlorinsuwanee  #ldsrealtorsinatlanta #ldschurchinatlanta #bestlistingagentinalpharetta

May 10, 2024

The Sun Is Shining on Sellers This Summer

The Sun Is Shining on Sellers This Summer

As we go through life our housing needs change.  If your needs have changed, now’s a great time to sell and get the features you want most. Many buyers are eager to move between the school years, so you may see a faster sale, multiple offers, a higher final sales price, and more. If you want to get your house ready for a summer listing, let’s connect.  It is still a Sellers Market in Atlanta Ga.

Bottom Line

Ready for a change? If you move-up now, you can unlock benefits like eager buyers, top-dollar sales, and high home equity. With summer fast approaching, let’s work together to get your house ready. #justlisted #realestatetips #keepingcurrentmatters #cummingrealestateagent #ldsagentinGa #alpharettarealestate #suwaneerealestate #bufordrealestate

#johnfosterrealestateagent #johnfosterrealtor #bestlistingagent

 

 

 

April 19, 2024

Myths About the Housing Market

Myths about the 2024 Housing Market

When it comes to the current housing market, there’s a lot of misinformation out there right now.  And you may be confused about what’s fact and what’s fiction.  

That’s why I’m busting some of the biggest myths and misconceptions in real estate today. Swipe to see. 

#realestateadvice #housingmarketupdate #keepingcurrentmatters #cumminghomesforsale  #cummingrealtor #cummingrealestateadvice #Alpharetttarealestatehelp #alphrettahomesforsale 

Myths About the 2024 Housing Market.  This short video discusses 3 myths about our housing market and John Foster, Realtor with Keller Williams discusses each of them.

 

4 Tips for Selling Your Home in Atlanta this Spring by Realtor John Foster

If you are considering selling your home in the Atlanta area - your goal might be to get the most money, in the least amount of time with the least amount of hassle. Here are 4 tips to Selling Your home this spring. If you live in North Atlanta - contact John Foster for additional tips and recommendations. John Foster is "Atlanta's Best Listing Agent". When John Foster is your Realtor he will help you: 1. Sell your home within a specific timeframe 2. Help Price your home competitively 3. Market your home to potential buyers 4. Offer suggestions and resources to fix up or prepare your home to sell it. 5. Find a Buyer for your home. 6. Help with negotiations and dealing with the buyer 7. Assist all the way through closing John Foster is a full time realtor and has been since 2003 - you will love working with him. John Foster uses a home selling system, called 72Sold, to accomplish these 3 goals. It if a different way of selling compared to the traditional way - contact John and ask about his 72Sold method of selling homes. Call or text him today at 770 722-7010 or email him at JohnSellsAtlanta@outlook.com