Hall County
Real Estate Newsletter
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January 11, 2021 | Volume 12. Issue 24
[Sales Data: Dec 16 to 31, 2020]
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1. Over the two week period in Hall County, from December 16 to 31, 2020, Realtors have participated in selling 147 single-family homes with an average sales price of $326,419 and a median sales price of $281,000.
2. Lake Lanier Water Level: 1,070.32 as of Monday, January 11, 2021. Lake Lanier is 0.68 Feet Below its full pool level.
3. Incredible Growth in Hall County’s Real Estate Economy!
2020 vs 2019:
18% More HOME SALES
16% Higher AVG SALES PRICE
14% Higher MEDIAN SALES PRICE
The Average Home Sales Price in Hall County in 2020 was more than double what it was in 2011!
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WHY NOT TO WAIT UNTIL SPRING
OR SUMMER TO MAKE A MOVE
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The housing market recovery coming into the new year has been nothing short of remarkable. Many experts agree the turnaround from the nation’s economic pause is playing out extremely well for real estate, and the current market conditions are truly making this winter an ideal time to make a move. Here’s a dive into some of the biggest wins for homebuyers this season.
1. Mortgage Rates Are Historically Low
In 2020, mortgage rates hit all-time lows 16 times. Continued low rates have set buyers up for significant long-term gains. In fact, realtor.com notes:
“Given this means homes could cost potentially tens of thousands less over the lifetime of the loan.”
Essentially, it’s less expensive to borrow money for a home loan today than it has been in years past. Although mortgage rates are expected to remain relatively low in 2021, even the slightest increase can make a big difference in your payments over the lifetime of a home loan. So, this is a huge opportunity to capitalize on right now before mortgage rates start to rise.
2. Equity Is Growing
According to John Burns Consulting, 58.7% of homes in the U.S. have at least 60% equity, and 42.1% of all homes in this country are mortgage-free, meaning they’re owned free and clear.
In addition, CoreLogic notes the average equity homeowners gained since last year is $17,000. That’s a tremendous amount of forced savings for homeowners, and an opportunity to use this increasing equity to make a move into a home that fits your changing needs this season.
3. Home Prices Are Appreciating
According to leading experts, home prices are forecasted to continue appreciating. Today, many experts are projecting more moderate home price growth than last year, but still moving in an upward direction through 2021.
Knowing home values are increasing while mortgage rates are so low should help you feel confident that buying a home before prices rise even higher is a strong long-term investment.
4. There Are Not Enough Homes for Sale
With today’s low inventory of homes on the market, which is contributing to this home price appreciation, sellers are in the driver’s seat. The competition is high among buyers, so homes are selling quickly.
Making a move while so many buyers are looking for homes to purchase may mean your house rises to the top of the buyer pool. Selling your house before more listings come to the market in the traditionally busy spring market might be your best chance to shine. Brad Abernathy adds,
“In 26 years as a full time Realtor, I have never seen this little to choose from for buying a home.”
Bottom Line
If you’re considering making a move, this may be your moment, especially with today’s low mortgage rates and limited inventory. Reach out to the Abernathy Cochran Real Estate Group for advice and counsel.
SOURCE: KCMBlog, Corelogic, Realtor.com, Abernathy Cochran Group
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2020: THE BEST EVER
One of the things that 2020 will always be known for was that
it was the best year for real estate for Hall County ever.
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HOME SALES in Hall County
December 16 to 31 2020 Home Sales in Your Neighborhood
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1574 Riverside Drive, Gainesville, GA 30501 $635,000
BIG HOME. GREAT LOT. WALK to DOWNTOWN. Walk to Lake Lanier.
Fantastic home in sought after Downtown Gainesville. Lots of room for family to spread out. Owner’s suite on main. Second bedroom suite on the main. Large porches and decks for entertaining! Second level has huge recreation room and family room. Terrace level with internal and external entrance is perfect for Teen Suite, In-Law Suite, or to be used for AirBNB Rentals. Includes Bedroom, Living Room, Bath Room, & Kitchen. Current Owner received $15,000 in rental income in 2020. Walkable to downtown, to local pool, Lake Lanier, schools, restaurants and ball games.
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The Faces of Hall County Profile Jenny Puckett
Meet Jenny Puckett! Jenny is an Infectious Diseases Physician Assistant at Northeast Georgia Medical Center. She is married to Edward and the couple has three children.
We want to thank Jenny for spending time with us recently and telling us more about her life and love of Hall County.
Q: What inspired or led you to your current career?
A: “My mom. We are both peacemakers and caregivers and I should’ve known I was meant to follow in her footsteps! She was a nurse before staying home with me and my brothers. She started nursing again when I was in junior high and eventually started graduate school the same year I left for college. She was a Geriatric Nurse Practitioner for another 20 years. I was pre-law in Undergrad at N.C. State, but decided quickly after graduation I wasn’t 100% sold on law school. One of my first jobs was fundraising for Juvenile Diabetes Research Foundation which is when I decided I wanted to work in medicine. I went back to undergrad for a year and half to take all the needed science classes, then started PA school in 2008.”
Q: What advice would you give a crowd of people?
A: “Scatter!”
Q: What is something on your bucket list?
A: “Spend a summer in Italy.”
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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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