Upcoming Election Creates Chaos in the Real Estate Market?
The real estate market is experiencing some turbulence, and it's no surprise that the upcoming presidential election is playing a significant role. However, it's not just the election itself that's causing the most disruption. There are several underlying factors at play, which are impacting both buyers and sellers in unexpected ways. One of the most significant reasons home prices are not expected to plummet is the current inventory shortage. A substantial 60% of homeowners have locked in interest rates below 4%, with many even lower. These homeowners are understandably reluctant to sell, knowing that giving up their low mortgage payments for a new, higher payment doesn't make financial sense. In fact, these low payments are helping many households manage inflation and other economic pressures. Historically, the Federal Reserve (FED) tends to avoid adjusting rates around election time to maintain political neutrality. However, many anticipate that rates may drop in the near future, which could provide some relief for those feeling "stuck" with their current mortgage rates. The FED's recent indications have already caused a reaction in the mortgage market, with rates beginning to decrease slightly. As rates drop, even slightly, more buyers may re-enter the market, potentially leading to increased competition, lower inventory, and higher home prices. This could create a challenging environment for buyers, especially those who have been waiting on the sidelines for the right moment to purchase. The real estate market is always unpredictable, but during an election year, it becomes even more crucial to have a reliable lender who is responsive and can navigate the fluctuating rates effectively. The importance of having a great lender cannot be overstated, especially as we brace for potential changes in the coming months. KeyPoint As the election approaches, the real estate market is bound to experience more volatility. While some may anticipate a crash, the lack of inventory, coupled with low mortgage rates from previous years, makes this unlikely. Instead, expect increased competition and potentially higher home prices as more buyers re-enter the market. It's essential to work with a skilled lender who can help you navigate these changes and secure the best possible outcome for your real estate needs.
Johns Creek, GA: #1 Best Suburb in USA?!
A recent article by Travel and Leisure listed Johns Creek, GA, as the number one suburb in the U.S. for affordable housing, top-rated schools, and excellent job opportunities. While this recognition is noteworthy, the characterization of Johns Creek as "affordable" might raise a few eyebrows for those familiar with the area. The Background of Johns Creek Johns Creek is located in North Metro Atlanta, adjacent to Alpharetta in Fulton County. Interestingly, Johns Creek was originally considered part of Alpharetta until it became its own city in 2006. The push for incorporation was driven by residents who wanted more localized governance to address zoning, development, and public services tailored to their community’s needs. Since becoming a city, Johns Creek has developed its own municipal government, complete with a mayor, city council, and various departments dedicated to local governance. Job Opportunities in Johns Creek One aspect that Travel and Leisure got right is the abundance of excellent job opportunities in Johns Creek. According to Census data, Johns Creek is among the wealthiest communities, with a median income of $130,000. Much like Alpharetta, Johns Creek boasts a strong presence of IT and technology-based jobs, attracting professionals from across the country. This economic vitality is a significant draw for many relocating to the area. Moreover, a new development called Medley is set to further enhance Johns Creek's appeal. This 52-acre mixed-use development will feature luxury residences, retail spaces, and lifestyle amenities. Medley, part of Johns Creek's new Town Center, is expected to create a vibrant community space and provide more job opportunities in the area. Top-Rated Schools in Johns Creek Another point in favor of Johns Creek is its top-rated schools. The suburb is home to about 14 public elementary, middle, and high schools, all of which boast impressive ratings on greatschools.org. Whether you're looking for an elementary school with a nine rating or a high school with a perfect 10, Johns Creek has educational options that rank among the best in the state. However, it's crucial for parents to do their own research beyond online ratings, such as visiting schools and seeking out opinions from other parents in the community. The Reality of Housing Costs in Johns Creek Now, let’s address the elephant in the room: housing affordability. Contrary to what Travel and Leisure suggests, Johns Creek is far from affordable by most standards. The average sales price of a home in Johns Creek currently sits just over $1 million, with the median sales price around $880,000. These figures are significantly higher than what the article reports, and they reflect the high demand for homes in this desirable suburb. Despite the steep housing prices, many people are willing to pay a premium to live in Johns Creek due to its excellent schools, strong job market, and beautiful surroundings. The suburb is known for its pristine, clean environment and its numerous amenities, including parks like Newtown Park and Autrey Mill Nature Preserve, as well as shopping options like Target, TJ Maxx, Whole Foods, and Hmart. KeyPoint Johns Creek, GA, is undeniably a fantastic place to live, offering top-rated schools, great job opportunities, and a high quality of life. However, the characterization of Johns Creek as an "affordable" suburb may be misleading. The reality is that this sought-after area comes with a hefty price tag. If you're considering moving to Johns Creek, it's essential to be prepared for the costs associated with living in one of the best suburbs in the country. While the suburb may not be affordable for everyone, it certainly offers a wealth of benefits for those who can afford it.
The Top Reasons People Regret Moving to Georgia
The Northeast Metro Atlanta area has become a magnet for new residents, with families and young professionals drawn to the excellent school systems, convenient location, and plethora of activities. From parks and trails to shopping and dining, and major league sports, the area's proximity to downtown Atlanta offers the best of both worlds: enjoying a suburban lifestyle with easy access to the city. However, if you don't do your research, you may regret your decision. Overcrowding and Traffic One common complaint from locals is that Georgia is overcrowded and traffic is too bad. Many people who once lived in small towns have seen significant growth over the past decade, leading to frustration as farmland is replaced by new neighborhoods, stores, and restaurants. Our infrastructure struggles to keep up with the fast-paced growth, resulting in constant road work and traffic congestion. If you seek a rural area without much development or traffic, keep in mind that most parts of North Metro Atlanta are experiencing growth, and even small towns are likely to see development in the coming years. Weather Georgia's hot, humid summers can be a deal-breaker for some. While the weather attracts many due to the lack of extreme natural disasters and mild winters, those from milder climates may find the heat and humidity challenging. This summer has been particularly hot and dry, with temperatures often in the mid-90s and high humidity. If you're from a state with milder summers, consider visiting during July or August to see if you can handle the weather. Cost of Living The current average sales price for a home in the Greater Atlanta area is around $564,000. Some people find this unaffordable, especially with high interest rates. While there are more affordable parts of the state, the highly sought-after areas for their schools, location, and amenities come with a hefty price tag. It's essential to consider this before moving, especially if you plan to rent before buying. Homeowners Associations (HOAs) Many new developments in the Metro Atlanta area come with HOAs. About 90% of new neighborhoods have them, which can be a deal-breaker for some. While there are neighborhoods without HOAs, they are less common, particularly for new construction homes. Be aware that if you want to avoid HOAs, your options may be limited. KeyPoint These are a few reasons you might regret moving to Georgia. However, many people who relocate here find it to be a great place to live. If you have recently moved or are considering moving to Georgia, I would love to hear your thoughts. Does North Georgia sound like a place you want to call home, or do you think it's overpriced and overcrowded? If you're considering a move to Georgia, I want to be your real estate agent. You can reach out to me by clicking the link in the pinned comment below this video. If you're still deciding if Georgia is right for you, make sure to check out my other videos for more insights.
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