Hall County
Real Estate Newsletter
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November 30, 2020 | Volume 12. Issue 21
[Sales Data: Nov 1 to 15, 2020]
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1. Over the two week period in Hall County, from November 1 to 15, 2020, Realtors have participated in selling 105 single-family homes with an average sales price of $385,783 and a median sales price of $296,000.
2. Lake Lanier Water Level: 1,070.33 as of Monday, November 30, 2020. Lake Lanier is 0.67 Feet Below its full pool level.
3. Incredible Growth in Hall County’s Real Estate Economy!
Thru 3 quarters 2019:
1,986 SF home sales.
$291,992 average sales price.
Thru 3 quarters 2020:
2,289 SF home sales (15.2% higher)
$328,856 average sales price (12.6% higher)
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Today’s real estate market has high buyer interest and low housing inventory. With so many buyers competing for a limited number of homes, it’s more important than ever to know the ins and outs of making a confident and competitive offer. Here are five keys to success for this important stage in the homebuying process.
1. Listen to Your Real Estate Agent
A recent article from Freddie Mac offers guidance on making an offer on a home in today’s market. Right off the bat, it points out how emotional this can be for buyers and why trusted professionals can help you stay focused on the most important things:
“Remember to let your homebuying team guide you on your journey, not your emotions. Their support and expertise will keep you from compromising on your must-haves and future financial stability.”
Your real estate professional should be your primary source for answers to the questions you have when you’re ready to make an offer.
2. Understand Your Finances
Having a complete understanding of your budget and how much house you can afford is essential. The best way to know this is to reach out to your lender to get pre-approved for a loan early in the homebuying process. Only 44% of today’s prospective homebuyers are planning to apply for pre-approval, so be sure to take this step so you stand out from the crowd. It shows sellers you’re a serious, qualified buyer and can give you a competitive edge if you enter a bidding war.
3. Be Ready to Move Quickly
According to the Realtors Confidence Index, published monthly by the National Association of Realtors(NAR), the average property being sold today is receiving more than three offers and is only on the market for a few weeks. These are both results of today’s competitive market, showing how important it is to stay agile and vigilant in your search. As soon as you find the right home for your needs, be prepared to work with your agent to submit an offer as quickly as possible.
4. Make a Fair Offer
It’s only natural to want the best deal you can get on a home. However, Freddie Mac also warns that submitting an offer that’s too low can lead sellers to doubt how serious you are as a buyer. Don’t submit an offer that will be tossed out as soon as it’s received. The expertise your agent brings to this part of the process will help you stay competitive:
“Your agent will work with you to make an informed offer based on the market value of the home, the condition of the home and recent home sale prices in the area.”
5. Be a Flexible Negotiator
After submitting an offer, the seller may accept it, reject it, or counter it with their own changes. In a competitive market, it’s important to stay nimble throughout the negotiation process. Your position can be strengthened with an offer that includes flexible move-in dates, a higher price, or minimal contingencies (conditions you set that the seller must meet for the purchase to be finalized). There are, however, certain contingencies you don’t want to forego. Freddie Mac explains:
“Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you can’t afford to fix.”
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Bottom Line:
Today’s competitive market makes it more important than ever to make a strong offer on a home, and a trusted expert can help you rise to the top along the way.
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HOME SALES in Hall County
November 1 to 15 2020 Home Sales in Your Neighborhood
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Lake Lanier’s Little River Park
Just Steps Away from this Home
2611 Pinebrook Drive $264,900
Rocking chair front porch welcomes you home to this picturesque North Hall Ranch in an established neighborhood. Lovely foyer leads to a formal sitting room that opens into a separate dining room. Large eat in kitchen and walk in pantry. 3 bedrooms/2 bath and a large added bonus room complete with a full bath-perfect for an in-law suite, master suite, or family room. Great back yard, walking distance to Little River Park and close to shopping, Lake Lanier Rowing Venue, and just moments to downtown.
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The Faces of Hall County Profile Hanny Hernandez
Meet Hanny Hernandez! Hanny is originally from Mexico and moved to Gainesville when she was 13 years old and has now been here for 15 years. She is married to Amado Madrigal and the couple has three daughters.
Hanny owns Honey Bear Party Rentals. The company provides event decor, prop rentals and balloon deliveries; serving Hall county and surrounding areas. Follow her on Instagram: @honeybearpartyrentals
We want to thank Hanny for spending time with us recently and telling us more about her life and love of Hall County. Here is a sneak peak of her interview:
Question: What inspired you to led you to your current career?
Answer: “I’ve always enjoyed decorating for parties and for my kids and as far as I can remember I like doing DIYs. I started my business and I am doing pretty much anything that my clients wants me to do like birthday parties, baby showers, etc.”
Q: What is your favorite restaurant in Hall County?
A: “I would say El Griton Mexican Grill and I love their enchiladas for sure.”
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Mortgage Rates are at 50 Year Lows!
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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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