Ed Perry Real Estate

07/20/2021

Ask me about this new construction in Gwinnett County. Move-in will be ready in August. 🏡🏡🏡🏡 Let's go home shopping! DM for more information.

07/14/2021

ou might feel a bit odd packing your snorkel for a trip to the mountains, but hear us out: The Conasauga River watershed is home to more than 70 different species of native fish

Sure, you’ll still see muscadines and slushie machines, but visit North Georgia now and you’ll find sophisticated small-batch varietals you’ll never spy at Total Wine.

07/13/2021

Are you thinking about selling...well here are some incentives to think about?
**4 Major Incentives To Sell This Summer**

While the housing market forecast for the second half of the year remains positive, there may not be a better time to sell than right now. Here are four things to consider if you’re trying to decide if now’s the right time to make a move.

1. Your House Will Likely Sell Quickly
According to the most recent Realtors Confidence Index released by the National Association of Realtors (NAR), homes continue to sell quickly. The report notes homes are selling in an average of just 17 days.

Average days on market is a strong indicator of buyer competition, and homes selling quickly is a great sign for sellers. It’s one of several factors that indicate buyers are motivated to do what it takes to purchase the home of their dreams.

2. Buyers Are Willing To Compete for Your House
In addition to selling fast, homes are receiving multiple offers. NAR reports sellers are seeing an average of 5 offers, and these offers are competitive ones. Shawn Telford, Chief Appraiser at CoreLogic, said in a recent interview:

“The frequency of buyers being willing to pay more than the market data supports is increasing.”

This confirms buyers are ready and willing to enter bidding wars for your home. Receiving several offers on your house means you can select the one that makes the most sense for your situation and financial well-being.

3. When Supply Is Low, Your House Is in the Spotlight
One of the most significant challenges for motivated buyers is the current inventory of homes for sale, which while improving, remains at near-record lows. As NAR details:

“Total housing inventory at the end of May amounted to 1.23 million units, up 7.0% from April's inventory and down 20.6% from one year ago (1.55 million). Unsold inventory sits at a 2.5-month supply at the present sales pace, marginally up from April's 2.4-month supply but down from 4.6-months in May 2020.”

There are signs, however, that more homes are coming to market. Odeta Kushi, Deputy Chief Economist at First American, notes:

“It looks like existing inventory is starting to inch up, which is good news for a housing market parched for more supply.”

If you’re looking to take advantage of buyer demand and get the most attention for your house, selling now before more listings come to the market might be your best option.

4. If You’re Thinking of Moving Up, Now May Be the Time
Over the past 12 months, homeowners have gained a significant amount of wealth through growing equity. In that same period, homeowners have also spent a considerable amount of time in their homes, and many have decided their house doesn’t meet their needs.

If you’re not happy with your current home, you can leverage that equity to power your move now. Your equity, plus current low mortgage rates, can help you maximize your purchasing power.

But these near-historic low rates won’t last forever. Experts forecast interest rates will increase in the coming months. Nadia Evangelou, Senior Economist and Director of Forecasting at NAR, says:

“Nevertheless, as the economic outlook for the United States looks brighter for the rest of the year, mortgage rates are expected to rise in the following months.”

As interest rates rise, even modestly, it could influence buyer demand and your purchasing power. If you’ve been waiting for the best time to sell to fuel your move up, you likely won’t find more favorable conditions than those we’re seeing today.

Bottom Line
With supply challenges, low mortgage rates, and extremely motivated buyers, sellers are well-positioned to take advantage of current market conditions right now. If you’re thinking about selling, let’s connect today to discuss why it makes sense to list your home sooner rather than later.

Let's talk about your property options today! Direct message me 😊 I'm available to answer your questions.

07/04/2021

07/01/2021

Are We in a Housing Bubble? Experts Say No.

The question of whether the real estate market is a bubble ready to pop seems to be dominating a lot of conversations – and everyone has an opinion. Yet, when it comes down to it, the opinions that carry the most weight are the ones based on experience and expertise.

Here are four expert opinions from professionals and organizations that have devoted their careers to giving great advice to the housing industry.

The Joint Center for Housing Studies in their The State of the Nation’s Housing 2021 report:

“… conditions today are quite different than in the early 2000s, particularly in terms of credit availability. The current climb in house prices instead reflects strong demand amid tight supply, helped along by record-low interest rates.”

Nathaniel Karp, Chief U.S. Economist at BBVA:

“The housing market is in line with fundamentals as interest rates are attractive and incomes are high due to fiscal stimulus, making debt servicing relatively affordable and allowing buyers to qualify for larger mortgages. Underwriting standards are still strong, so there is little risk of a bubble developing.”

Bill McBride of Calculated Risk:

“It’s not clear at all to me that things are going to slow down significantly in the near future. In 2005, I had a strong sense that the hot market would turn and that, when it turned, things would get very ugly. Today, I don’t have that sense at all, because all of the fundamentals are there. Demand will be high for a while, because Millennials need houses. Prices will keep rising for a while, because inventory is so low.”

Mark Fleming, Chief Economist at First American:

“Looking back at the bubble years, house prices exceeded house-buying power in 2006 nationally, but today house-buying power is nearly twice as high as the median sale price nationally…

Many find it hard to believe, but housing is actually undervalued in most markets and the gap between house-buying power and sale prices indicates there’s room for further house price growth in the months to come.”

Bottom Line
All four strongly believe that we’re not in a bubble and won’t see crashing home values as we did in 2008. And they’re not alone – Goldman Sachs, JP Morgan, Morgan Stanley, and Merrill Lynch share the same opinion.

Let's talk about your home options today. Are you thinking about buying or selling?

06/21/2021

Are you ready to get some well-needed lake time?! Check out the best lakes in Georgia.

The majority of lakes in the state of Georgia are created by dams, and most of the lakes on our list are just that. These lakes offer great fishing and ... Read more

06/09/2021

No sleep here! 😁

06/08/2021

((Counties with the lowest home prices in Georgia)) ** Ask me about some of these counties and available homes for sale. There are some "gems" 😉

Credible compiled a list of the counties with the lowest home prices in Georgia using data from National Association of REALTORS.

06/02/2021

We love Georgia summers! 😉 (share with others)
Get outside and back to nature in Georgia – dive into outdoor activities, visit natural attractions and state parks, find outdoor outfitters and guides, and explore scenic byways and trails.

Get outside and back to nature in Georgia – dive into outdoor activities, visit natural attractions and state parks, find outdoor outfitters and guides, and explore scenic byways and trails.

05/17/2021

((IMPORTANT READ)) What Are Closing Costs? When buying a home, it’s important to have a budget and make sure you plan ahead for certain homebuying expenses

When buying a home, it’s important to have a budget and make sure you plan ahead for certain homebuying expenses. Saving for a down payment is the main cost that comes to mind for many, but budgeting for the closing costs required to get a mortgage is just as important.

05/13/2021

➡➡LOW HOUSING INVENTORY - BETTER TIME TO SELL

Homebuyers are flooding the housing market right now to take advantage of record-low mortgage rates. Many have a sense of urgency to find a home soon since experts forecast a steady rise in both rates and home prices this year and next. As a result, buyer demand greatly outweighs the current housing supply. Here’s how the shortage of houses for sale sets yours up to be the oasis in an inventory desert.

According to the National Association of Realtors (NAR), today’s housing inventory sits at an incredibly low 2.1-month supply, far below the 6-month mark for a neutral market. Inventory of single-family homes a year ago was already very low

That’s why there’s never been a GOOD TIME TO SELL. To a parched buyer needing to secure a home as soon as possible, YOUR HOUSE COULD BE A TRUE OASIS🏡🏡🏡!

We don't want you to miss this real estate opportunity, CONTACT ME TODAY TO LEARN ABOUT YOUR OPTIONS. DM IS WELCOME!

05/10/2021

((SELLERS MARKET))

NAR reports the average number of bids received on the most recently closed sales is 4.8 offers. This number has doubled since the first quarter of 2020 (See graph below):

Are you thinking about selling your property? Let's talk about your options today! DM or give me a call today.