Atlanta Real Estate and Community News

June 20, 2022

What The Fed Interest Rate Hike Means For Home Buyers

In an effort to cool inflation the Federal Reserve has launched its largest interest rate increase since 1994 and indicated it is doing so in order to tame price hikes and bring down the cost of gas and food. There are plans to apply further ongoing increases as appropriate. The Fed issued a statement pointing to the invasion of Ukraine by Russia as a tremendous human and economic hardship that is affecting the economy and contributing to rate hikes.

The average 30-year, fixed-rate mortgage rate spiked by 55 basis points from 5.23% to 5.78% for the week ending Thursday, June 16, 2022, according to the latest figures released by Freddie Mac.

For perspective one economist said a $300,000, 30-year, fixed-rate mortgage with a rate of 5.23% would normally cost a borrower about $1,653 a month, excluding other costs like taxes and insurance. At today’s new average rate of 5.78% that same loan would cost a borrower $1,756 which equates to $1,236 a year and $37,080 over the lifetime of the loan.

the rate increase could be an over correction by the lenders, and could possibly fall over the coming weeks as lenders adjust to the current high-inflation environment.

Keep in mind that believe it or not, rising rates isn’t all bad news. Less demand for housing could help alleviate the housing supply issues we’ve seen nationwide. We don’t expect housing prices to come down drastically but with increased supply there should be a slow down to home price growth giving home buyers more housing options.

Posted in Real Estate News
June 15, 2022

10 Best Neighborhoods In Marietta GA [2022 Edition]

10 Best Neighborhoods In Marietta GA - Main Image

Are you thinking of moving to Marietta? You're making a great decision! There are so many wonderful neighborhoods to choose from, each with its own unique advantages. How do you know which one is right for you? This blog post will help make the process a little easier by giving you an overview of some of the best areas in Marietta. Keep reading to learn more!

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Posted in Buying a Home
June 7, 2022

The Rising Demand for Homes May Be Slowing

 

Demand may be slowing

It appears housing prices are beginning to decline. The reason home prices shot up 34% in the last two years is because of the demand for housing, but not enough inventory of homes available to purchase.

 

What does it mean?

It seems a lot of properties are coming onto the market just as demand slows, analysts say. With demand slowing, prices could level off and maybe in some cases could even start to decline.

 

The median existing-home sales price reached an all-time high in April of $391,200, up 14.8% from a year ago, according to data released in May by the National Association of Realtors (NAR).

 

Fewer competing offers

Signs are showing that the breakneck pace of rising demand for homes may be slowing, after the cost of a monthly mortgage payment for a median-priced house went up by 27% from a year ago. The Federal Reserve raised interest rates in March and May of this year causing existing home sales to slow down for the third straight month in April, falling 2.4%, according to the NAR. Real estate experts say that in April, just 60.7% of home offers faced competing offers, compared to 63.4% a month earlier and 67.4% a year ago.

 

New Construction

According to the National Association of Realtors confidence in the market for newly-built single-family homes fell to the lowest reading since June 2020. And the Census Bureau said on May 17 that the number of permits issued for new single-family homes fell 4.6% in April from the previous month.

 

New Construction on the Rise

The U.S. housing market is finally seeing a surge of newly built properties, after more than a decade, and this is happening right when the slowdown in demand is taking place. A record number of single-family homes were under construction in April which was the most we’d seen since November 2006. Newly built homes coming on the market will compete with resale properties.

 

Supply of homes

There is currently about two months of supply of houses on the market, but real estate experts predict that prices will stall if that amount reaches about six month’s worth.

 

Are we in a housing bubble?

Analysts say we’re not in a bubble because current lending standards are different today. When interest rates jump and home prices decline it helps to combat inflation. The most likely scenario is that home prices will level off.

 

Bottom line 

If you’re in the market to buy a home more inventory is available and prices are no longer climbing at a rapid pace, so all signs are leaning toward a more normalized market.

 

Posted in Real Estate News
May 17, 2022

Johns Creek has Seven Champion Golf Courses

The city of Johns Creek is consistently recognized as one of the most affluent golf communities in the Metro Atlanta area because of its seven champion 18-hole golf courses. Offering over 50,000 yards of golf and recognized by both the U.S. Golf Association and Professional Golfers Association, these private and public courses offer year round golfing because of our mild climate.

Johns Creek has hosted many championships over the years, including the 1976 US Open Championship, the 1981, 2001 and 2011 PGA Championship, the 1990 US Women’s Open, the Champions Tour Nationwide Championship from 1991-1994 and the U.S. Amateur in 2014. These courses were designed by some of the sport’s best, which include Robert Trent Jones, Jack Nicklaus, Arnold Palmer, Rees Jones, Thomas Fazio, Joe Lee and Arthur Hills.

The popularity and prestige of these courses consistently produces nationally ranked top area junior golfers from men’s and women’s golf teams at each of the four area high schools in Johns Creek. With the help of the City of Johns Creek, we’ve brought you a breakdown of each golf course located within the city. Call us today for a private VIP home tour within and around these luxurious communities.

Atlanta Athletic Club (private)

Founded in 1898 in downtown Atlanta, the Atlanta Athletic Club moved to Johns Creek in 1967, and is the home club of golf legend Bobby Jones. It offers two 18-hole championship courses (Highlands, Riverside) designed by Robert Trent Jones and one nine-hole, par-3 course. The Atlanta Athletic Club hosted the 2011 PGA Championship.

Country Club of the South (private)

Founded in 1987, the Country Club of the South is a 900-acre, gated residential community with an 18-hole championship course originally designed by Jack Nicklaus. Its 18-hole championship course is 6,950 yards, par 72. Of all the Jack Nicklaus golf courses in Georgia, the Country Club of the South presents one of the most challenging layouts.

Rivermont Golf and Country Club (private)

Founded in 1973, the Rivermont Golf and Country Club's 18-hole course is 6,767 yards, par 72. Originally designed by Joe Lee, the course saw a $3.6 million renovation in 2007 by Michael Riley and offers a relaxed, family friendly retreat from the busyness of Atlanta.

River Pines Golf (public)

Founded in 1990, River Pines is nestled along the Chattahoochee River, and features one 18-hole championship course and one nine-hole, par 3 course. Designed by Denis Griffiths, the 18-hole course is 6,002 yards, par 70. Mike Perpich, a Golf Magazine "Top 100 Instructor," is based at River Pines.

St. Ives Country Club (private)

Founded in 1989 and completely renovated in 1999, St. Ives Country Club is a gated residential community with an 18-hole championship course. Designed by Thomas Fazio, ASGCA, the course is 6,932 yards, par 72.

Standard Club (private)

Founded in 1866, the Standard Club is the oldest golf club in Atlanta. It moved to its present location in Johns Creek in 1987. Its 18-hole championship course (7,075 yards, par 72) was originally designed by Arthur Hills and redesigned in 2005 by Michael Riley. In addition to the golf course, the Standard Club offers a 125,000 sq. foot clubhouse that features 4 indoor air-conditioned tennis courts, 8 outdoor clay courts, 4 outdoor hard courts, a state of the art fitness center, pool complex, racquetball and basketball courts.

Posted in Community News
May 13, 2022

Living In Marietta, GA: 10 Things You Need To Know

Living In Marietta, GA: 10 Things You Need To Know - Main Picture

Are you considering making the move to Marietta, GA? If so, there are a few things you should know before making your decision. In this blog post, we'll give you a list of 10 things you need to know about living in Marietta. Keep reading to learn more!

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Posted in Community News
April 19, 2022

2022 Housing Market Predictions

This is what economists and real estate experts expect to happen in the housing market in the coming months.

There may be less competition for higher priced homes

Mortgage rates are on the rise. For the first time since 2011 mortgage rates on a 30-year fixed-rate mortgage hit 5%, and pros say they may keep going up. The increase in mortgage rates means that homebuyers will have to adjust their expectations, and begin shopping in lower price ranges. This means we might see less competition for higher priced homes and more competition for lower-priced homes.

Rising mortgage rates may force some buyers out of the market

Rising interest rates mean many buyers will be forced out of the market because of a hit to affordability. With interest rates now at 5% a buyer’s monthly mortgage payment will be higher.

Home prices will keep going up, but growth will slow somewhat

CoreLogic and Fannie Mae predict that home prices will go even higher over the coming year. But the good news for buyers is that home price growth may slow somewhat in 2022 due to pullback in demand as enough buyers hit an affordability ceiling between rising prices and mortgage rates. That does not mean that it will become a buyer’s market anytime soon, according to experts. 

Some employees may face difficult decisions about returning to work in person, and that may impact their housing choices

As pandemic restrictions fade and we emerge into a new normal we are likely to witness broader improvements in consumer activity. While companies shift back toward an office environment the success of remote work over the past two years has not only redefined employment culture and expectations, but also led to consumers seeking more affordable housing farther from downtown areas. It’s possible that some people who thought they wouldn’t have to return to work in person will actually have to, which means we could see people moving from the more outlying areas where they purchased homes back to more urban areas. It is most likely to continue to be a seller's market.

 

Posted in Real Estate News
April 8, 2022

Top 7 Reasons To Move To Berkeley Lake, GA

Top 7 Reasons To Move To Berkeley Lake, GA

Tucked between John's Creek, Duluth, and Overlook lay the spectacular city of Berkeley Lake, GA. The stunning suburb is filled with beautiful parks and is on a sparkling lake. Berkeley Lake, GA, was once a secluded summer retreat equipped with small fishing cabins since the city has transformed into a thriving year-round community and has a strong business and economic sector. 

Many people live in Berkeley Lake, GA, full-time and take advantage of all the fantastic benefits. Berkeley Lake, GA, is a great place to move. The suburb is filled with outdoor adventures and with plenty of recreation opportunities. Moving to Berkeley Lake, GA might be a big decision for you, and you might need some more information. But, you've arrived at the right place. Our guide will share 7 reasons why moving to Berkely Lake, GA, is a great decision!

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Posted in Buying a Home
April 5, 2022

This Spring Presents Sellers with a Golden Opportunity

This Spring Presents Sellers with a Golden Opportunity! If you’re thinking of selling your house this year, timing is crucial. You’ll want to balance getting the most out of the sale of your current home and making the best investment when you buy your next one. You may be able to get the best of both worlds today. Find out the four reasons why this spring may be your golden window of opportunity.



1. Number of Homes on the Market Remains Low

Today’s limited supply of houses for sale is putting sellers in the driver’s seat. There are far more buyers in the market today than there are homes available. That means purchasers are eagerly waiting for your house.

Listing your house now with a Robb Realty agent, who will help you to price your house correctly, you can expect it to sell quickly and likely get multiple strong offers.

2. Your Equity Is Growing

According to a CoreLogic report, homeowners are sitting on record amounts of equity thanks to recent home price appreciation. The report finds that the average homeowner has gained $55,300 in equity over the past year. That much equity can open doors for you to make a move, so if you’ve been holding off on selling because you’re worried about how rising prices will impact your next home search, rest assured your equity can help fuel your move. 

3. Mortgage Rates Are On the Rise

While it’s true mortgage rates have started to go up, current mortgage rates are still below what they’ve been in recent decades. In the 2000s, the average mortgage rate was 6.27%. In the 1990s, the average rate was 8.12%. To put it into context, the current average 30-year fixed mortgage rate, according to Freddie Mac, is 3.85%. And while recent global uncertainty caused rates to dip slightly, experts project rates will rise in the months ahead. Doug Duncan, Senior Vice President and Chief Economist at Fannie Mae, says: “For homebuyers, we believe that borrowing costs will likely rise with the increase in mortgage rates….” When that happens, it’ll cost you more to purchase your next home. That’s why it’s important to act now if you’re ready to sell. Work with Robb Realty Group so you can take key steps to making your next purchase before rates climb further.

4. Home Prices Are Going Up

Home prices have been skyrocketing in recent years because of the imbalance of supply and demand. The rise in home values will continue as long there remains an imbalance

What can you expect? If you’re planning to sell, you can get ahead of the curve by leveraging your growing equity and purchasing your next home now before prices climb higher. Once you make your purchase you can rest assured you made a good decision by benefiting from home price appreciation and growing the value of your new investment.

Bottom Line

If you want to win when you sell and when you buy, this spring could be your golden opportunity. Get connected with a Robb Realty Group agent so you have the insights you need to take advantage of today’s incredible sellers’ market.

Posted in Selling Your Home
March 9, 2022

Top 12 Best Private Schools in Cobb County (2022)

Top 12 Best Private Schools in Cobb County (2022)

Education is very important in our world today and you want your child or children to have the best education possible. Researching schools can be overwhelming. Let this list of the 12 best private schools in Cobb County make it easier for you to decide which school to choose. 

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Posted in Buying a Home
Feb. 24, 2022

Interior Design Trends to Know in 2022

 

What exactly are our senses drawn to in 2022?

14 top interior designers have some ideas about what the design trends for our homes will be in 2022. For starters, several predict the rise of the earthy color of brown, displayed in fabrics like leather or even in terracotta walls. Others see a spike in nature-inspired surfaces and accents as well as soft, curvy furniture. Essentially, anything that feels warm, welcoming and cozy is in. Clients are seeking warmth & comfort in their interior spaces. Basically, they want a home that feels like a warm hug! 

Since the pandemic, our homes have become the main settings of our lives: where we work, sleep, and socialize. It’s made current homeowners as well as buyers who will be purchasing a home examine interior spaces to determine what we want to be surrounded with. We want our interior spaces to be ones we love and can see ourselves living in day to day for years to come. Every object we're surrounded by, must serve some sort of purpose.

One of the trends that is out, is all white everything! The new trend that is coming in in its place is to warm things up and to do away with the minimal look. So, what’s in?

Shades of Brown

Chocolate, caramel and camel are all shades of brown that are on the rise. These colors will serve as deep neutrals that add richness, depth and elegance to create a timeless space.

Nature Inspired Surfaces and Objects

Spending more time indoors leads us to want to connect more to nature, which has led to a resurgence of natural surfaces used in our interior spaces. From stoneware, terracotta, marble and travertine being used for backsplashes to bathtubs, furniture and decorative items. These organic materials add depth, soul and visual intrigue while providing a calm, restorative ambiance and balance to our space. 

It is refreshing to see a return to materials such as rich marbles, soft and organic materials, warmer tones and griege vs white on walls, earthy elements like wood, stone, and clay, which are all so classic and refreshing as it brings life to a space.

“With folks looking to bring a little magic into their lives after a couple of very tough years, I see earth's magical wonders taking center stage: objects made from sparkling crystals and swirling marbles, mushroom silhouettes, pieces that incorporate raw natural materials and exotic flora and fauna motifs.” -Justina Blakeney

Venetian Plaster and Limewash

Plaster finishes evoke times past, they are the textured backgrounds of our historical ancestry. These textural finishes on brick fireplaces, walls, and exteriors of homes will be a hot 2022 design trend.

Elevated Outdoor Spaces

Outdoor furniture will become more sophisticated and refined and our patios will become a true extension of our interior space. 

Dual Purpose Rooms

With another year of COVID variants our work and living spaces are one and the same. The kitchen becomes the conference room and our dining room table becomes the boardroom table. Rooms in our homes will be designed for double-duty with added storage and desks, etc. in an effort to create spaces that work harder for us.

Vintage Accents

Vintage accents provide a storytelling aspect to our spaces with their texture, warmth and sentimentality. Repurposing old and worn antique items adds new purpose to them and brings a rich sense of history and spirit into our space.

A Little Bit of Glam

Embracing of floral patterns, damask-printed wallpapers and contemporary shaped furnishings will add a touch of glamour. Be on the lookout for fringe and piping fabric details and finishes.

Artwork

The focus will be on up-and-coming artists and their work. Consumers want artwork created by diverse, fresh faces to the art scene not the high-brow art collectors of the past.

Mixing Styles and Materials

One trend that is emerging that is reminiscent of the’80s and’90s is the mixing of two trends, one being very natural—white and creams, mixed with dark natural wood and washed linen textiles and black-and-white photography. The other is dark and moody mixed with stainless steel, jovial multicolor schemes and color blocking.

Wallpaper

“Wallpaper continues to be a dominant element in interiors, with strong patterns and more textured materials being used to create spaces that envelop and cocoon you.” -Timothy Corrigan

 

Posted in Real Estate News