Hall County
Real Estate Newsletter
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April 20, 2021 | Volume 13. Issue 6
[Sales Data: Mar 16 to 31, 2021]
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3. 2021 Real Estate in Hall County for the first 10 Weeks of the year.
- 22% MORE Single Family Home Sales than 2020
- 25% HIGHER Average Home Sales Price than 2020
- 13% HIGHER Median Sales Price than 2020
Call us anytime for a market personalized market evaluation.
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1. Over the two week period in Hall County, from March 16 to 31, 2021, Realtors have participated in selling 159 single-family homes with an average sales price of $389,700 and a median sales price of $332,050.
2. Lake Lanier Water Level is at 1,071.37 as of Monday, April 19, 2021. Lake Lanier is .37 Feet Above its full pool level.
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Smaller Homes are Trending in Popularity
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Over the past year, we’ve had plenty of opportunities to reflect on what we consider most important in our lives. The place we call home is one of the biggest things many of us are reevaluating. George Ratiu, Senior Economist at realtor.com, shares:
“The very nature of the pandemic, through the health implications, social distancing, and need to isolate, has really brought a central focus on the importance of home for most Americans…In a sense, it has elevated real estate markets as a centerpiece of our lives.”
For some, this has spurred an interest in making a move to a home that better suits our changing needs. In a recent study on today’s homebuyer preferences, the National Association of Home Builders (NAHB) states:
“When asked more specifically how the pandemic may have impacted their preference for home size…21% or about 1 out of every 5 buyers, do want a larger home now as a direct result of the health crisis, while another segment – 12% – would prefer a smaller one instead.”
While you might expect more time at home to lead to a need for more space, it’s interesting that a significant portion of homeowners actually want less. For those who own larger homes right now and have a desire to move, today’s housing market is full of opportunities. Danielle Hale, Chief Economist at realtor.com, explains:
“In a real estate market that is tipped in the favor of sellers, boomers and older homeowners are really the ones holding the cards…Those who are selling homes can use the profits to help them buy new ones.”
As a homeowner today, you likely have equity that can be put toward the purchase of your next home. With the equity growth homes have seen over the past year, you may have more than you think, which can help significantly as you make a move into your next home. According to a report from the National Association of Realtors (NAR):
“Home Sellers cited that they sold their homes for a median of $66,000 more than they purchased it. Sellers 22 to 30 years gained the least at $33,400 in equity compared to sellers 66 to 74 years gained $100,000 in equity as they likely had lived in their homes for a longer period of time.”
Despite the benefits of growing home equity, some homeowners are still hesitant to move and could be considering remodeling or making changes to their current space instead. However, if you’ve thought about aging in place rather than downsizing, you may want to reconsider. The U.S. Census Bureau points out:
“Of the nation’s 115 million housing units, only 10% are ready to accommodate older populations.”
If your house is no longer the best fit for your evolving needs, it may be time to put your equity to work for you and downsize to the home you really want.
Bottom Line
Today’s housing market favors homeowners who are ready to sell their houses and make a move. If you’re thinking about downsizing this year, contact a real estate professional to better understand the options in your local market.
Sources: KCMBlog, NHBA, Realtor.com, US Census Bureau, NAR
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HOME SALES in Hall County
March 16 to 31, 2021 Home Sales in Your Neighborhood
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2116 Blue Ridge Drive
Gainesville, GA 30501
Offered for $3,750,000
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Remarkable Lake Lanier property! Over 30 acres, with over 2700 feet of shoreline. This property has Corps of Engineers approval for a 10 slip dock. Completely private oasis! Rambling brick ranch featuring 5 bedrooms, 4 baths. Vaulted ceilings, formal dining room that seats 12 or more, brick floor breakfast room and den. Foyer with newly refinished parquet flooring and floor-to-ceiling window to soak in the backyard and courtyard. The “bedroom wing” offers 3 oversized bedrooms, all complete with large closets and bathrooms. The other 2 bedrooms are the opposite side of the home with the kitchen, large laundry/mud room and 4th full bath. Screened porch, road to the dock, ample parking. Brand new roof! The potential for this home is endless. Close to everything Gainesville has to offer and in the heart of one of the most coveted neighborhoods in the city. Adjoins the 168 acre Atlanta Botanical Gardens Gainesville.
Call us for more information!
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Faces of Hall County Class of 2021:
Bianca Joseph
Contact us to nominate your Senior!
Meet Bianca Joseph! Bianca is a senior at Flowery Branch High School. She plans on attending Georgia Southern University in the fall.
We want to thank Bianca for taking time to answer our questions recently and telling us more about her life and future plans. We wish her luck!
Q: What are your plans after graduation?
A: “After graduation, I plan to attend Georgia Southern University and major in International Studies with a Regional Emphasis and minor in Political Science. Hopefully, in the future, I will study and become a Public Diplomacy Officer in the U.S Embassy.”
Q: What are two of your favorite restaurants in our community?
A: “King Kong Milktea and Crossroads Bar & Grille.”
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Mortgage Rates are Unbelievable!
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Need a MORTGAGE OFFICER, an ELECTRICIAN, a PLUMBER, an INSURANCE AGENT, an ATTORNEY, a PEST CONTROL COMPANY, a POOL COMPANY, a DENTIST, a DOG WALKER, someone that is a TSHIRT MAKER, a custom CANOE BUILDER, or a RECLAIMED WOOD TABLE MAKER? If you need a GREAT CONNECTION, please call or email us anytime. We would love the opportunity to help you make a great connection!
If we can ever help you or someone that you know in real estate, please give us a call. We are grateful for your referrals. We strive to give our clients and friends
real value in everything that we do. Thank you for your time and support!
Brad Abernathy 770-540-1548 | Regina Cochran 678-414-0646
CJ Greene 770-540-5879 | Robert Bell 770-654-0507
Ricky Lewallen 770-654-7922 | Jane Fleming 770-519-2333
Abernathy Cochran Group | The Norton Agency
770-718-5255 or 770-536-1250
The Abernathy Cochran Group is the leader in Hall County sales volume in 2019
and for the previous 9 years, too. 10 years in a row!
You get MORE with our collaboration.
We hope you CHOOSE us to sell or buy your real estate.
THANK YOU!
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