Cumming Ga Home Trends

The local real estate market is changing again in Cumming Ga and all over the metro area. It is reported by Real Valuator reports that the listing inventory is down by over 30% from previous year in most markets. Short sales and foreclosures have also slowed as many REO agents spread their business in other directions. Freddie Mac reports they expect a rise in mortgage rates to over 5% which means that home affordability could drop as much as 25%by this time next year. Many homes are selling fast and  with multiple offer situations here in Cumming Ga. Even though it is always a great time to buy a home it appears that there is a short window of opportunity to buy in to home ownership at today's price deals and interest rates. Let us show you how we can help sell your home with the best internet marketing plan and help you move up into the home of your dreams. 770-616-2873

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Cumming Ga Buyers Beware Its no Longer JUST Your Market

SEARCH FOR HOMES NOW <>Well its been 5 years since we faced the 2007 drought and the beginning of the housing crises here in Cumming Ga. I remember it all to well trying to sell a second home market of Lake Lanier properties with no lake and zero funding for second home purchases. This was a nightmare. Today's Cumming Ga Forsyth County market is much different than those days. In fact the market is doing things we have not seen since the late 90's early 2000's. While driving around showing homes to buyers we are greeting other agents and their buyers. There is a smaller amount of homes on the market in Cumming Ga and a huge pent up demand from buyers. Therefore many homes are seeing multiple offers and going to what agents refer to as highest and best. Meaning all parties bring your best offer because this home is selling fast. I think we can for sure say at this point that we are in a transitional market. Meaning neither buyer or seller market. Home prices in Cumming Ga are priced to sell. Agents and homeowners know the market and buyers can no longer expect to come in and shave 15,000 dollars off the sell price. Its best to understand as a buyer what the neighborhood values are. Just because one home sold as a distressed property in a neighborhood does not mean the whole neighborhood is worth what the house sold for. Just know that whom ever bid and purchased that home got a heck of a buy. The values are still out there because prices still remain much lower than their peak in 2006. Since we are now stabilized here in Cumming Ga naturally it would only be a matter of time before home prices start to increase in value. Also, if we continue to see a decrease in inventory as well as a price increase we will eventually return to a seller's market. Words of advice*** Know before you show. - Ask your agent what other homes have sold for in the neighborhood in which your looking to buy. Get Pre-approved. - Never start searching for a home when you don't even know what you can afford. Shop within your range. - In this market do not stretch to far outside your pre-qualification amount. Since negotiation gaps are much smaller now, stick close to the set number from your lender. Buy within reason- Understanding what money will buy in this market is much different than it was even a month ago. Upgrades are costing more they are no longer free. WHAT IS YOUR HOME WORTH? We assist home buyers and sellers everyday. Lets us help you make the best deal for you. Brad and Pam Chapman Keller Williams Realty Atlanta Partners 770-616-2873 bradchapman@kw.com pamelachapman@kw.com TOP 20% South Forsyth Market Center/Agent Leadership Council/Realtor