Hall County
Real Estate Newsletter
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HAPPY THANKSGIVING!
November 23, 2020 | Volume 12. Issue 20
[Sales Data: Oct 16 to 31, 2020]
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1. Over the two week period in Hall County, from October 16 to 31, 2020, Realtors have participated in selling 161 single-family homes with an average sales price of $367,240 and a median sales price of $310,000.
2. Lake Lanier Water Level: 1,070.17 as of Sunday, November 22, 2020. Lake Lanier is 0.83 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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Homeownership is the Key
to Building Wealth
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For years, real estate has been considered the best investment you can make. A major reason for this is due to the net worth a household gains through homeownership. In fact, according to the 2019 Survey of Consumer Finance Data from the Federal Reserve, for the average homeowner:
“…a primary home accounts for 90% of the total wealth of a family in the U.S.”
How do homeowners gain wealth?
Most large purchases, like cars and appliances, depreciate in value as they age, so it’s understandable to question how owning a home can increase wealth over time. In a simple equation, the National Association of Realtors (NAR) explains how the combination of paying your mortgage and home price appreciation grow overall wealth:
Principal Payments + Price Appreciation Gains = Housing Wealth Gain
As home values increase and you make payments toward your home loan, you’ll gain wealth through equity. The same article from NAR also addresses how wealth gains tend to play out over time:
“Housing wealth accumulation takes time and is built up by paying off the mortgage debt and by price appreciation. And while home prices can fall, home prices tend to recover and go up over the longer term. As of September 2020, the median sales price of existing home sales was $311,800, a 35% gain since July 2006 when prices peaked at $230,000.”
Taking a look at how equity has grown for the typical homeowner, it’s clear to see how real estate is a sound long-term investment. NAR notes:
“Nationally, a person who purchased a typical home 30 years ago would have typically gained about $283,000 as of the second quarter of 2020.” (See graph below):
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Bottom Line
Whether you’re a current homeowner planning to put your equity toward a new home or have hopes of buying your first home soon, homeownership will always be a great opportunity to build your net worth and overall wealth. Owning a home is truly an investment in your financial future.
Sources: KCMBlog, US Federal Reserve, NAR
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HOME SALES in Hall County
October 16 to 31 2020 Home Sales in Your Neighborhood
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Gainesville Classic
1571 Blueridge Drive $1,595,000
Show stopping Gainesville home! Situated beautifully on over 2 acres, this 4 sided brick stunner welcomes you with a circular drive and grand foyer. Formal dining room seats 12. Great room features a gas log fireplace. Large kitchen with breakfast bar, Thermador range, and spacious breakfast area. Large pantry and separate mud room. The children’s wing offers a play room/living room with built in desks, 2 large bedrooms and attached baths. Master suite on the main level with large master bath and his/her closets as well as dual vanities. The 2nd level is complete with SO MUCH storage, a wrapping room, 2 bedrooms and 2 baths. Finished terrace level could serve as a game room or “man cave” and has a finished bath and wet bar area. Unbelievable back yard, in ground pool, and privacy. All of this, moments from shopping and dining.
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The Faces of Hall County Profile
Troy Jowers
Meet Troy Jowers! Troy is a longtime Gainesville resident and owner of The Kitchen. Many may know Troy from his days playing East Hall Viking football.
The Kitchen, located at 984 Athens St., specializes in wings and burgers throughout the week and barbecue on the weekends. Pro tip: the smoked mac and cheese is to die for!
We want to thank Troy for spending time with us recently and telling us more about his life and love of Hall County.
Q: What current / former local business makes you the most nostalgic about our community? “My mom had eight kids, I’m the oldest, and we didn’t go out to eat much, maybe once or twice a month, we would go to the Woolworth on the square.”
Q: Where do you see yourself in five or 10 years? “I really want to open a sports bar in the next five years.”
Q: Who is the most interesting person you’ve met here in our community? “I would have to say Ken Davis, he was my coach at East Hall. We spent a lot of time together and read the newspaper every morning in class. I remember his daughter Katie B. Davis as the ball girl. I can’t say enough about Coach Davis.”
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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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