Hall County Real Estate information and recent sales data from down your street.

Real Estate Newsletter

September 16, 2020.  Vol 12, Issue 16

[Sales data:  Aug 16 to 31, 2020]

Real Estate Spotlight
1.  Over the two week period in Hall County, from August 16 to 31, 2020, Realtors have participated in selling 187 single-family homes with an average sales price of $364,548 and a median sales price of $305,000.  
 
2.  Lake Lanier Water Level:  1,070.84 as of Tuesday, September 15, 2020.  Lake Lanier is 0.16 Feet Below above its full pool level.  This is the first time below full pool in over 7 months.  The tropical storm on its way will fill it back up.
 
3.  Learn more about US on our new website Q and A with Our Group.
We Have Never Seen a Market Like This
The year 2020 will certainly be one to remember, with new realities and norms that changed the way we live. This year’s real estate market is certainly no exception to that shift, with historic highlights continuing to break records and challenge what many thought possible in the housing market. Here’s a look at four key areas that are fundamentally defining the market this year.

Housing Market Recovery

The economy was intentionally put on pause this spring in response to the COVID-19 health crisis. Many aspects of the common real estate transaction were placed on hold at the same time. Thankfully, technology and innovation helped the industry power forward, and business gradually ramped back up as shelter-in-place orders were lifted.

 

The result? Total transformation of the market from rock-bottom lows to exceptional highs. Today, the housing recovery is being called truly remarkable by many experts and is far exceeding expectations. From pending home sales to purchase applications, buyers are back in business and homes are selling – fast.

 

According to the Housing Market Recovery Index by realtor.com, the market has surpassed pre-pandemic levels, and has regained the strength we remember from February of this year (See graph below):

 

 

Record-Breaking Mortgage Rates

Historically low mortgage rates are another 2020 game-changer. Today’s low rate is one of the big motivating factors bringing buyers back into the market. The average rate reached an all-time low on multiple occasions this year, and it continues to hover in record-low territory.

 

When rates are this low, buyers have a huge opportunity to get more for their money when purchasing a home, something many are eager to find while continuing to spend more time than expected at home this year, and likely beyond.

Continued Home Price Appreciation

One of the key drivers of home price appreciation this year is historically low inventory. Inventory was low going into the pandemic, and it is still sitting well below the level needed for a normal market. Although sellers are slowly making their way back into the game, buyers are scooping up homes faster than they’re coming up for sale.

 

This is a classic supply and demand scenario, forcing home prices to rise. Selling something when there is a higher demand for what is available naturally bumps up the price. If you’re ready to sell your house today, this may be the optimal time to make your move. As Bill Banfield, EVP of Capital Markets at Quicken Loans, notes:
“The pandemic has not stopped the consistent home price growth we have witnessed in recent years.” 

Increasing Affordability

Even as home prices continue to rise, affordability is working in favor of today’s homebuyers. According to many experts, rates this low are off-setting rising home prices, which increases buyer purchasing power – an opportunity not to be missed, especially if your family’s needs have changed. If you now need space for a home office, gym, virtual classroom, and more, it may be time to reconsider your current house.
According to Mortgage News Daily:
“Those shopping for a home can afford 10 percent more home than they could have one year ago while keeping their monthly payment unchanged. This translates into nearly $32,000 more buying power.”

Bottom Line

With mortgage rates hitting historic lows, home prices appreciating, affordability rising, and the market recovering like no other, 2020 has been quite a year for real estate – perhaps one we’ve never seen before and may never see again. Reach out to a local real estate professional today if you’re ready to take advantage of this year’s record-breaking opportunities.

 

And For Hall County…
…this story is even greater.  2019 was the best real estate year in Hall County’s history.  Through 8 months of 2020 our local Hall County market has had 13% More Home Sales than last year; the Average Sales Price and Median Sales Price are both 11% higher than last year.

 

The southern end of our county has seen surges of people moving further north out of Atlanta.  Flowery Branch has had 33% more home sales in 2020 than during the same period in 2019.

 

Call us for more information!

 

 

SOURCE:  KCMBlog, Quicken Loans, Realtor.com, Mortgage News Daily, GAMLS Abernathy Cochran Group
Home Sales in Hall County
    August 16 to 31, 2020 Sales in Your Neighborhood
 
  
 
Featured Listing:

 

 

 

 

 

Lovely Ranch Home Longstreet Hills
Walking Distance to Downtown and Lake Lanier
854 Memorial Drive
Gainesville GA 30501
 
$424,900
This 1940s cottage in the heart of the city has been fully renovated and preserved with charming detail. The historic Longstreet Hills neighborhood will just beckon you right through the door of this one.. Its split bedroom payout with 2 master suites is ideal for growing family or live in extended family. The kitchen features tumbled marble, backsplash, breakfast area and stone countertops. Don’t miss the new patio and fenced in courtyard, study with custom builtins, large laundry/mudroom-a must see!
Email us at [email protected]
or call 770-718-5255 Office
 
The Faces of Hall County Profile
SHANE GADDY
 
Meet Shane Gaddy! I had the pleasure of having coffee this morning at Inman Perk with Shane to talk about growing up in Hall County. Shane grew up in Oakwood and was part of the first freshman class at West Hall High School; he had always planned in his early life to become a Knight (Johnson High School) but became a Spartan (West Hall High School).  You just never know when life is going to throw you a curve ball.  Shane Gaddy, CFP®, C(k)P®, CPFA, is a managing partner-financial planner at Strong Gaddy Lee Wealth Management Group, is married to Emily and the couple has two children.

 

I want to thank Shane for spending time with me and telling me more about his life and love of Hall County.

 

Please enjoy this 3 question sneak peak at his full interview:

 

Q: What are a couple of your favorite restaurants in our community?
A: “They are all so great and I crave them at different times. For lunch though, Avocado’s-I just love the Cuban and their fries or their Quinoa Salad with Grilled Chicken…and I am a sucker for the Praline Caramel Cheesecake. And for dinner I love YellowFin…not for just for seafood, but their ribeye is fantastic and Clare loves their macaroni and cheese..it’s great!”

 

Q: What advice would you give to people?
A: “Love your job or seek to change to one you would.”

 

Q: Where do you see yourself in five to 10 years?
A: “Just where I am. I love what I do, I love my community and I can’t wait to see what is next in my kids journey.”

 

 

To read more about the Faces of Hall County CLICK HERE.
We would LOVE your nominations for The Faces of Hall County.  Please email them to [email protected]
Mortgage Rates have been at 50 year lows this month!

 

 

 


 

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!
STAY CONNECTED:
Abernathy Cochran Group, The Norton Agency, 434 Green Street, Gainesville, GA 30501
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