Take advantage of the Spring weather and higher foot traffic to boost the value of your home!
Gardening can not only be therapeutic and fun but can add value to your listing.
According to Realtylink.org “Keeping the outside of your home clean and tidy improves your home’s curb appeal and will make a difference when you’re looking to sell….. Tidy your garden (and) choose colorful plants with different growing seasons so your garden looks great in both spring and summer.”For all my Cobb folks – support local!!!
Kelli Green nursery is a small, locally-owned, and operated Marietta nursery with over 25 years of experience. They even grow 90% of their plants in-house!
How is the current market doing, how did the interest rate increase affect buyer demand, and most importantly, we sitting on a ticking time bomb…This enormous ship is currently still moving full speed ahead!
To put things into perspective: in 2011 there were 11.1 months of inventory. This means with the buyer demand, at that time, it would take almost one year to completely deplete the for-sale inventory should no new listings come to market. A median market between buyers and sellers is 6 months of inventory. . . we are currently at only 24days!!
Should no new houses hit the market, in 24 days there will be no more houses for sale. It does not matter how long you’ve been in real estate – if you’re breathing, this is the first time you’ve ever seen this! Many listings have multiple offers on day 1!! Supply and demand are in full effect.
Interest rates just went up over a quarter of a point (0.25%) and in some cases more… But buyers are unfazed! This is because the increase is not significant enough to make a big impact on monthly payments.
It is important to point out that the reason interest rates went up was not that the federal reserve increased it; it was organic growth. As people get scared about the stock marketing correcting, they invest in bonds. The 10-year treasury has a direct correlation with mortgage interest rates.
The influx in 10-year bonds makes the bank adjust their rates accordingly. The Fed has said that they will wait until 2022 before increasing the interest rates. But one thing is for certain, sub 3% interest rates are a thing of the past. We still have historical lows, but no longer the best rates ever. For the rest of 2021 we can expect more of the same.
The Metro-Atlanta real estate market is projected to go up 9% this year.
We are currently much stronger than in 2020 (and it went up 13.5% then!); do the math… Plus, banks are consistently sticking to pretty strict (in my humble opinion) underwriting guidelines.
It is hard for first-time homebuyers to get in (but not impossible); with wages not increasing at the same pace, eventually a third of the buyers will be priced out of the market. The current demand is so high that it will take a combination of increased interest rates and increased inventory quickly to tip the scale towards buyers and cause a correction.
I anticipate that future correction will still land higher than where we are currently… which means there is plenty more of ‘up’ to take place before the market goes down.
This is an absolutely great time to sell! If you want to know how much your house could be worth, let me know! It is also an amazing time to buy! Not easy, but certainly feasible with the right agent at the helm…
-Val