North Atlanta Real Estate Update

Stay up-to-date on the Real Estate Market Trends in Alpharetta, Cumming and Suwanee Ga: By John Foster, Realtor at Keller Williams 770 722-7010

Sept. 2, 2022

Here is why it is a Seller's Market in North Atlanta

Here’s Why It’s Still a Sellers’ Market

Here's Why It's Still a Sellers' Market [INFOGRAPHIC] | MyKCM

Some Highlights

  • In the areas we live the months supply of homes is as follows as of August 2022:
    • Alpharetta & Suwanee    1.7 Months supply of homes.
    • Cumming                         1.8 Months supply of homes
    • Sugar Hill                         2.4 Months Supply of Homes
    • Milton                               3.2 Months Supply of homes
      • Source FMLS
  • While buyer demand has moderated and housing supply has grown in recent months, it’s still a sellers’ market because inventory is low.
  • The latest data shows sellers continue to benefit from serious buyers and competitive offers. In July, the average home received 2.8 offers and 39% sold over the asking price

If you are considering selling your home you haven’t missed your opportunity to sell. Let’s connect to start the process today.  Call or text me at 770 722-7010 or email me John.Foster@kw.com

 

#Alpharettarealestatemarket #cummingrealestatemarket #miltonrealestatemarket #sugarhillrealestatemarket  #JohnFosterRealtor #AtlantaLDSagent 

Aug. 26, 2022

What a Recession Means for the Housing Market

What Would a Recession Mean for the Housing Market? 

What Does a Recession Mean for the Housing Market? [INFOGRAPHIC] | MyKCM

Some Highlights

  • If you’re wondering what a potential recession could mean for the housing market, here’s what history tells us.
  • In four of the last six recessions, home prices actually appreciated, only falling during the early 90s and the housing crash in 2008. Mortgage rates, though, declined during each of the previous recessions.
  • I do not consider what happened in 2008 to be a "typical" recession - it was more like a depression.  I do not think the current talk of a recession is anything like what we went through in 2008. 
  • If you have questions about buying or selling a home in today’s market, let’s connect - call, text or email me at 770 722-7010.
  • I love talking real estate so do not feel like you are bothering me - if you have questions I am here. 
Aug. 25, 2022

10 Pro Tips for a Smooth Home Move by John Foster, Realtor

 

10 Pro Tips for a Smooth Home Move

 

The process of buying a new home can be both exhilarating and exhausting. But the journey doesn’t stop when you close on your property. On the contrary, you still have quite a bit to do before you can begin the process of settling into your new place.

Fortunately, you don’t have to do everything in a day. You don’t have to do it all alone, either. When you work with us to sell or purchase a home, you’ll have an ally by your side long after your transaction has closed. We’ll continue to be a resource, offering advice and referrals whenever you need them on packing, hiring movers and contractors, and acclimating to your new home and neighborhood.

 

10 Pro tips for a Successful MoveWhen it comes to a life event as stressful as moving, it pays to have a professional by your side. Here are some of our favorite pro tips to share with clients as they prepare for an upcoming move.

1. Watch out for moving scams.

Maybe you receive a flyer for a moving company in the mail. Perhaps you find a mover online. Either way, never assume that you’re getting accurate information. According to the Better Business Bureau, moving-related fraud is on the rise. In 2021 alone, individuals and families reported more than $730,000 lost to moving scams, an increase of 216% over the previous year.1

How can you tell if a moving deal is too good to be true? Trust your instincts. If the price appears too low or you can’t pin down the mover’s physical business address, try someone else. The same goes for any moving company representative who dodges questions. Reputable movers should offer transparent pricing, conduct in-home estimates, and provide referrals and copies of their insurance documents upon request.2 Always as for recent recommendations and talk to recent customers.  

2. Insure your belongings.

Your moving company promises to take care of your custom piano or your antique furniture. But don’t just take their word for it. Ask to see how much insurance they carry and talk about how the claims process works. That way, you’ll know what is (and isn’t) covered in case of loss or damage.

Of course, some items are priceless because they’re irreplaceable. You might want to move your more sensitive valuables (jewelry, documents, family heirlooms, etc.) in your own vehicle just to be safe. For added peace of mind, call your rental or home insurance provider if you’re moving anything yourself. You might already be protected or be able to purchase extra insurance to cover your move. If those options are unavailable, you could opt for moving insurance from a third-party carrier.3

3. Start packing when you start looking for a new home.

As soon as your house hunting begins in earnest, think about packing away things you won’t need for the next few months. These could include seasonal or holiday decor, clothing, and books. Tackling just one or two boxes a day will give you a head start.

If you're going to put your current home on the market, you'll want to declutter anyway. Decluttering will make your home seem larger, and depersonalizing helps buyers envision their own items in the space. Consider selling, donating, or throwing out possessions you no longer need. The things you want to keep can be placed in storage until you officially start moving to a new place.

4. Pack to make unpacking easier.

Have you ever opened a packed box only to find that it’s filled with an assortment of items that don’t belong together? This isn’t efficient and will only make unpacking harder. A better way to pack is to bundle items from a single room in a labeled box. Labels can let movers know (and remind you) where to place each box, whether it’s fragile, and which side needs to be up. Some people like to assign colors to each room in their new home to make distributing color-coded boxes a breeze.

Feel free to unleash your inner organizer with this project. For example, you could create a spreadsheet and assign each box a number. As boxes are packed, simply fill in the spreadsheet with a list of contents. Anyone with access to the spreadsheet can log in and quickly find the desired item.

5. Think outside the box when transporting clothes.

Who wants to worry about boxing up clothes? If you plan on hiring professional movers, ask if you can leave clothing in your dressers. In many cases, they will use plastic to wrap the dresser so the drawers don’t fall out during transport. If keeping your clothes in your furniture makes it too heavy, the movers might be able to wrap and move drawers by themselves.

Another easy transport trick involves turning clean garbage bags into garment bags. Poke a hole in the bottom of a garbage bag, turn the bag upside down, slide it over five to seven garments on hangers, and lay the items flat in the back seat or trunk of your vehicle. The bags will help prevent wrinkling, and your clothes will be ready to hang up when you get to your new home.

6. Document prior to disassembling appliances and furnishings.

Few things are as confusing as looking at a plastic baggie filled with nuts, bolts, and screws from your disassembled dining room table or sorting through a box of electrical wires and cords to see which ones fit your TV.

The best workaround to easier reassembly is to document the disassembly process. Take photos and videos or thorough notes as you go. Video works great.  Whether it’s your headboard or treadmill, be very precise. And just a tip: Construct your beds first when you get to your new home. After a long moving day, the very last thing you want is to be assembling beds into the wee hours of the morning.

 

7. Prioritize unpacking kids’ rooms.

Children can become very stressed by a big move. To ease their transition, consider prioritizing unpacking their rooms as their “safe zones.”4 You aren’t obligated to unpack everything, certainly. However, set up your children’s rooms to be functional. That way, your kids can hang out in a private oasis away from the chaos while you’re running around and moving everything else.

Depending upon how old your youngsters are, you might want to give them decorating leeway, too. Even if it’s just letting them choose where furniture goes, it gives them a sense of buy-in. This can help ease the blues of leaving a former home they loved.

8. Be a thoughtful pet parent.

Many types of pets can’t handle the commotion of moving day. Knowing this, be considerate and seek ways to give your pets breaks from the action. You might ask a friend to pet sit your pooch or keep your kitty in a quieter room, like a guest bathroom.

Be sure to check in on your pet frequently. Pets like to know that you’re around. Give them treats, food, and water throughout the day. When it’s time to transport your pet, do it calmly. At your new property, give your pet access to just a room or two at first. Pets typically prefer to acclimate themselves slowly to unfamiliar environments.5

9. Plan for your move like you’re planning for an exciting vacation.

When you plan vacations, you probably look up local restaurants, shops, and recreational areas. Who says you can’t do the same thing when moving? Create a list of all the places you want to go and things you want to do around your newly purchased home. Having a to-explore list keeps everyone’s spirits high and gives you starting points to settle into the neighborhood.

 

And don’t feel that you have to cook that first night. Once the moving trucks are gone, you can always pop over to a local eatery or order DoorDash for major convenience. The first meal in your new home should be a happy, welcoming treat. And if you’re relocating to our neck of the woods, we would love to introduce you to all the hot spots in town and recommend our local favorites.

10. Pack an “Open Me First!” box.

You won’t be able to unpack all your boxes in one day, but you shouldn’t go without your sheets, pillows, or toothbrush. Designate some boxes with “Open Me First!” labels. (Pro tip: Keep a tool kit front and center for all that reassembling.)

Along these lines, use luggage and duffel bags to transport everyone’s personal must-have items and enough clothing for a couple of days. That way, you won’t have to rummage through everything in the middle of your move looking for sneakers or snacks.

When packing your “Open Me First!” boxes, think about which items you’ll need in those first 24 hours. For example, toilet paper and hand soap are musts. A box cutter will make unpacking a lot easier, and paper towels and trash bags are sure to come in handy. Reach out for a complete, printable list of “Open Me First!” box essentials to keep on hand for your next move.

LET’S GET MOVING

Getting the phone call from your real estate agent that your bid was accepted is a thrilling moment. Make sure you keep the positivity flowing during the following weeks by mapping out a streamlined, efficient move. Feel free to get in touch with me today at 770 722-7010 (call or text)to help make your big move your best move.

 

Sources:

 

1.      Better Business Bureau - https://www.bbb.org/article/scams/24198-bbb-scam-alert-avoid-moving-scams-this-national-moving-mont

2.      Move.org -
https://www.move.org/how-to-tell-moving-company-scam/

3.      Forbes -
https://www.forbes.com/advisor/homeowners-insurance/moving-insurance/

4.      New York Times -
https://www.nytimes.com/2020/07/13/parenting/moving-tips-kids.html

5.      ASPCA -
https://www.aspca.org/pet-care/general-pet-care/moving-your-pet

July 23, 2022

Great news about the Alpharetta Ga real Estate market

Great News About Housing Inventory by John Foster, Realtor, Keller Williams Realty

Great News About Housing Inventory [INFOGRAPHIC] | MyKCM
Update on our Market (Alpharetta, Cumming, Milton & Suwanee Ga)

The amount of homes for sale (what I call inventory) has grown since the first of the year.  A six month Supply of homes is what is considered a "normal" or healthy market.  Here is the graph of homes for sale in Alpharetta, Cumming, Milton and Suwanee for the past year:

 

  

Months supply of homes for sale in Alpharetta in Jan 0.5 & June 1.5 months supply

Months supply of homes for sale in  Cumming in Jan was 0.6 * in June 1.5 month supply

Months supply of homes for sale in Milton in Jan 1.5 & June 2.7 months supply

Months supply of homes for sale in Suwanee in Jan 0.4 & June 1.9 months supply

Some Highlights

  • Experts say the number of homes for sale is growing this year, and that can have a big impact on your move.
  • In our area we needed additional homes to sell so the growth I think it healthy.  I would like to see it grow to between a 3-5 months supply of homes.  That is a still a sellers market with inventory to for to choose form.
  • If you’re planning to buy, additional options in today’s market may be just what you’ve been waiting for. More inventory means added opportunities to find the home of your dreams.
  • Let’s connect so you have the latest information on available homes in our area.  If you, or someone you know is considering buying, selling or investing in real estate please call or text me at 770 722-7010

 

_____________________________________________________________________________________

Great news about the Alpharetta Real estate market, Great news about the Cumming Real estate market

Great news about the Milton Real estate market, Great news about the Suwanee Real estate market

 

July 21, 2022

A Recession Doesn't Equal a Housing Crisis - John Foster Keller Williams thoughts on Real Estate Market

There is a lot of talk about recession and how that will impact the real estate market.  This 55 second video shows what happened to home values during the last six recessions.  It is good to have data as you make decisions.  Call or text me if you want to discuss the real estate market and how that can impact you.

 

 

What I am seeing right now is home values continue to go up while the number of homes sold slows down.  For June 2022 in the State of Ga the number of homes sold was down 13% which Avg. Sales price was up 17%.  I expect this to continue for the next few months.

Thinking of buying or selling - I am happy to discuss the market with you so you can make decisions based on what is happening in the market today.  

John Foster 

770 722-7010

 

 

July 15, 2022

SUMMARY OF OUR MARKET - BUYERS NOW HAVE MORE CHOICES

SUMMARY OF OUR MARKET - BUYERS NOW HAVE MORE CHOICES
Today, buyers are faced with making the decision of whether to buy now or wait. It isn’t just prices that are gone up, insurance & mortgage rates have increased as well. I am seeing buyers being cautious, worried they may be overpaying and taking on financial risk. Industry experts expect home prices to eventually level off. Jordan Grice, RISMedia editor, said, “The evidence continues to suggest that we are nearing the peak of the current housing cycle. People buying homes now in the most overvalued markets should be prepared to stay there for at least several years to ride out what could be a bumpy stretch for prices.”