Buying a Lake home Archives - Lake Lanier Homes for Sale | Sheila Davis Group -The Norton Agency

Gen Z: The Next Generation Is Making Moves in the Housing Market

Generation Z (Gen Z) is eager to put down their own roots and achieve financial independence. As a result, they’re turning to homeownership. According to the latest Home Buyers and Sellers Generational Trends Report from the National Association of Realtors (NAR), 30% of Gen Z buyers transitioned straight from living under their parents’ roofs to owning their own homes.

If you’re a member of this generation, and you’re interested in pursuing your own dream of homeownership, here’s some information you may find helpful on why and where your peers are buying.

The Reasons Gen Z Want To Become Homeowners

A recent survey by Rocket Mortgage identifies some of the top motivators driving Gen Z buyers to purchase a home:

“Of those surveyed, 34% said that starting or growing their family was their main motivation to buy a home. . . . Along with growing a family comes establishing a home base.”

Another key reason the survey says Gen Z wants to buy is because homeownership can give them more stability (20.8%). That’s because buying a home allows you to stabilize what’s typically your biggest monthly expense: your housing cost.

When you have a fixed-rate mortgage on your home, you can lock in your monthly payment for the duration of your loan, often 15 to 30 years. If you keep renting, you don’t have that same benefit, and you won’t be protected from rising housing costs.

So, if you’re ready to start a new chapter in your life or if you’re craving more stability, know that your peers feel the same way, and those motivators are why they’re turning to homeownership.

Gen Z’s Next Stop: Where Are They Making Their Moves?

If those reasons have you feeling ready to buy, here’s some information on where your peers are finding their homes that could help you with your search. According to a recent Lending Tree survey, Gen Z buyers are focusing on more affordable areas to help boost their buying power and offset the challenges that come with today’s mortgage rates.

Many Gen Z buyers still want the convenience and excitement of city life, but also value the affordability, open air, and space more suburban areas offer. Jacob Channel, Senior Economist at LendingTree, explains:

“. . . they want to live in a city, but they also want to be close to nature.”

Locating a home that offers both of those things requires expertise. Working with a trusted real estate professional can help you find a home in your budget and desired area. Your agent will know the most affordable neighborhoods to search in. They can also highlight the amenities and features that location offers and how those are aligned with your goals. They’ll also be able to walk you through how things like remote work can help you cast a broader net for your search.

Bottom Line

If you’re a member of Gen Z and are just getting started on your homebuying journey, or if you want to learn more about the process, let’s connect. That way, you have a guide to help you find a home that fits both your lifestyle and your budget. The Sheila Davis Group 770-235-6907 https://www.sheiladavisco.com/

Why You Need a True Expert in Today’s Housing Market

The housing market continues to shift and change, and in a fast-moving landscape like we’re in right now, it’s more important than ever to have a trusted real estate agent on your side. Whether you’re buying your first home or selling once again, it’s mission critical to work with an expert who can guide you through each unique step of the process.

The reality is, not all agents operate the same way. To truly make a powerful and confident decision as you buy or sell a home, you need a real estate expert who uses their knowledge of what’s really happening with home prices, housing supply, industry projections, and more to give you the best possible advice. Someone who can provide clarity and trust like that is essential to your success. Jay Thompson, Real Estate Industry Consultant, explains:

“Housing market headlines are everywhere. Many are quite sensational, ending with exclamation points or predicting impending doom for the industry. Clickbait, the sensationalizing of headlines and content, has been an issue since the dawn of the internet, and housing news is not immune to it.”

Unfortunately, when information in the media isn’t clear, it can generate a lot of fear and uncertainty for consumers. As Jason Lewris, Co-Founder and Chief Data Officer at Parcl, says:

“In the absence of trustworthy, up-to-date information, real estate decisions are increasingly being driven by fear, uncertainty, and doubt.”

But it doesn’t have to be that way. Buying a home is a big decision, and it should be one you feel confident making. You can lean on an expert to help you separate fact from fiction and get the answers you need.

The right agent can assist you in figuring out what’s going on at the national level and in your local area. They can debunk headlines using data you can trust. Experts have in-depth knowledge of the industry and can provide context, so you know how current trends compare to the normal ebbs and flows in the housing market, historical data, and more.

Then, to make sure you have the full picture, an agent can tell you if your local area is following the national trend or if they’re seeing something different in your market. Together, you can use all that information to make the best possible decision.

After all, making a move is a potentially life-changing milestone. It should be something you feel ready for and excited about. And that’s where a trusted expert comes in.

Bottom Line: If you want sound advice and trusted information about our local housing market, let’s connect. Sheila Davis 770-235-6907 https://www.sheiladavisco.com/

Four Ways You Can Use Your Home Equity

If you’re a homeowner, odds are your equity has grown significantly over the last few years. Equity builds over time as home values grow and as you pay down your home loan. And, since home prices skyrocketed during the ‘unicorn’ years, you’ve likely gained more than you think.

According to the latest Equity Insights Report from CoreLogic, the average homeowner has more than $274,000 in equity right now. That much equity can help you achieve certain goals. In a recent article, Bankrate elaborates:

“While the pandemic created serious challenges, the silver lining for anyone who owned a home was the sizable equity gain. Understanding how home equity works, and how to leverage it, is important for any homeowner.”

Here are a few examples of how you can put your home equity to work for you.

Buy a Home That Fits Your Needs

If your current space no longer meets your needs, it might be time to think about moving to a bigger home. And if you’ve got too much space, downsizing to a smaller home could be just right. Either way, you can put your equity toward a down payment on a home that fits your changing lifestyle. A real estate agent can help you figure out how much equity you’ve got and how to use it when buying your next home.

Reinvest in Your Current Home

Renovations are a great option if you want to change your living space, but you aren’t yet ready to make a move. Home improvement projects give you the freedom to tailor your home to match your needs and personal style. But it’s important to consider the long-term benefits certain upgrades can bring to your home’s value. Lean on a real estate professional for the best advice on which improvement projects to prioritize in order to get the greatest return on your investment when you sell later on.

Pursue Personal Ambitions

Home equity can also serve as a catalyst for realizing your life-long dreams. That could mean investing in a new business venture, retirement, or funding an education. While you shouldn’t use your equity for unnecessary spending, using it responsibly for something meaningful and impactful can really make a difference in your life.

Understand Your Options to Avoid Foreclosure

Today the number of foreclosure filings remains below the norm, so there’s no need to fear a wave of foreclosed homes flooding the market. But unfortunately, there are still some homeowners who experience the foreclosure process each year. If you’re facing financial difficulties, having a clear understanding of your options and how your equity can help is crucial. Equity can act as a financial cushion that can be used in times of unexpected challenges or unforeseen circumstances that may disrupt your ability to make mortgage payments on time.

In an article, Freddie Mac explains it this way:

“If exiting your home is the best option for you, selling with equity may be a good option. When selling with equity, you are using the proceeds from selling your home at a higher price than the amount you owe on your mortgage to pay off your remaining mortgage debt.”

Bottom Line

Your equity can be a game changer in reinvesting in your needs, pursuing your goals, and even helping you avoid foreclosure during difficult times. If you’re unsure how much equity you have in your home, let’s connect so you can start planning your next move. Sheila Davis 770-235-6907 Give us a call today – We would love to help you!

Real Estate Continues To Be the Best Investment

real estate is best long term investment 2023

Some Highlights:

According to a recent Gallup poll, real estate has been voted the best long-term investment for 11 years in a row, beating gold, stocks, bonds, and more.

Owning real estate means more than just having a home—it’s an investment in your future. That’s because it’s typically a stable and secure asset that tends to increase in value as time goes on.

Let’s connect if you’re ready to buy a home and invest in your future. Sheila Davis Group 770-235-6907 https://www.sheiladavisco.com/ @thenortonagency

Home Prices Are Rebounding

If you’re following the news today, you may feel a bit unsure about what’s happening with home prices and fear whether or not the worst is yet to come. That’s because today’s headlines are painting an unnecessarily negative picture. If we take a year-over-year view, home prices did drop some, but that’s because we’re comparing to a ‘unicorn’ year when prices peaked well beyond the norm.
To avoid an unfair comparison to that previous peak, we need to look at monthly data. And that tells a very different and much more positive story. While local home price trends still vary by market, here’s what the national data tells us.
The graphs below use recent monthly reports from three sources to show the worst home price declines are already behind us, and prices are appreciating nationally.

Looking at this monthly view, we can see the past year in the housing market can be divided into two parts. In the first half of 2022, home prices were going up, and fast. However, starting in July, prices began to go down (shown in red in the graphs above). By around August or September, the trend started to stabilize. But, looking at the most recent data for early 2023, these graphs also show that prices are going up again.
The fact that all three reports show prices have been going up for three or more straight months is an encouraging sign for the housing market. The month-over-month data indicates a national shift is happening – home prices are rising again.

Craig J. Lazzara, Managing Director at S&P Dow Jones Indices, says this about home price trends:
“If I were trying to make a case that the decline in home prices that began in June 2022 had definitively ended in January 2023, April’s data would bolster my argument.”
Experts believe one of the reasons prices didn’t crash like some expected is because there aren’t enough available homes for the number of people who want to buy them. Even with today’s mortgage rates, there are more people looking to buy than there are homes available for sale.
Mark Fleming, Chief Economist at First American, explains how more demand than supply keeps upward pressure on prices:
“History has shown that higher rates may take the steam out of rising prices, but it doesn’t cause them to collapse entirely. This is especially true in today’s housing market, where the demand for homes continues to outpace supply, keeping the pressure on house prices.”
Doug Duncan, Senior VP and Chief Economist at Fannie Mae, states home price growth is exceeding expectations thanks to that high demand:

“. . . housing prices continue to show stronger growth than what was previously expected . . . Housing’s performance is a testimony to the strength of demographic-related demand . . .”

Here’s How This Affects You
• Buyers: If you’ve been holding off on buying because you were worried the value of your home would go down, knowing home prices have bounced back should bring you some relief. It also gives you the opportunity to own something that usually becomes more valuable as time goes on.
• Sellers: If you’ve been waiting to sell your house because you were concerned about how changing home prices would affect its value, it might be a good idea to team up with a real estate agent to list your house. You don’t have to wait any longer because the latest data suggests things are turning in your favor.

Bottom Line
If you delayed your moving plans because you were concerned about home prices dropping, the latest data reveals the worst is already over, and prices are appreciating nationally. Let’s get in touch so you know what’s happening with home prices in our area. Give us a call today 770-235-6907 Sheila Davis Lake Lanier Real Estate

Two Questions To Ask Yourself if You’re Considering Buying a Home

If you’re thinking of buying a home, chances are you’re paying attention to just about everything you hear about the housing market. And you’re getting your information from a variety of channels: the news, social media, your real estate agent, conversations with friends and loved ones, overhearing someone chatting at the local supermarket, the list goes on and on. Most likely, home prices and mortgage rates are coming up a lot.

To help cut through the noise and give you the information you need most, take a look at what the data says. Here are the top two questions you need to ask yourself about home prices and mortgage rates as you make your decision:

Where Do I Think Home Prices Are Heading?

One reliable place you can turn to for that information is the Home Price Expectation Survey from Pulsenomics – a survey of a national panel of over one hundred economists, real estate experts, and investment and market strategists.

According to the latest release, the experts surveyed are projecting slight depreciation this year (see the red in the graph below). But here’s the context you need most. The worst home price declines are already behind us, and prices are actually appreciating again in many markets. Not to mention, the small 0.37% depreciation HPES is showing for 2023 is far from the crash some people originally said would happen.

Now, let’s look to the future. The green in the graph below shows prices have turned a corner and are expected to appreciate in 2024 and beyond. After this year, the HPES is forecasting home price appreciation returning to more normal levels for the next several years.

So, why does this matter to you? It means your home will likely grow in value and you should gain home equity in the years ahead, but only if you buy now. If you wait, based on these forecasts, the home will only cost you more later on.

Where Do I Think Mortgage Rates Are Heading?

Over the past year, mortgage rates have risen in response to economic uncertainty, inflation, and more. We know based on the latest reports that inflation, while still high, has moderated from its peak. This is an encouraging sign for the market and for mortgage rates. Here’s why.

When inflation cools, mortgage rates generally fall in response. This may be why some experts are saying mortgage rates will pull back slightly over the next few quarters and settle somewhere around roughly 5.5 and 6% on average.

But, not even the experts can say with absolute certainty where mortgage rates will be next year, or even next month. That’s because there are so many factors that can impact what happens. So, to give you a lens into the various possible outcomes, here’s what you should consider:

If you buy now and mortgage rates don’t change: You made a good move since home prices are projected to grow with time, so at least you beat rising prices.
If you buy now and mortgage rates fall (as projected): You probably still made a good decision because you got the house before home prices appreciated more. And, you can always refinance your home later on if rates are lower.
If you buy now and mortgage rates rise: If this happens, you made a great decision because you bought before both the price of the home and the mortgage rate went up.

Bottom Line

If you’re thinking about buying a home, you need to know the facts on what’s happening with home prices and mortgage rates. While no one can say for certain where they’ll go, expert projections can give you powerful information to keep you informed. Let’s connect so you have a professional to add in an expert opinion on our local market. Sheila Davis 770-235-6907 The Sheila Davis Group ~ The Norton Agency https://www.lakelaniersfinest.com/

The Sheila Davis Group has been recognized by America’s Best Real Estate Professionals in the nation.

America’s Best Real Estate Professionals honors America’s Best Real Estate Professionals across the country! Over 27,500 Real Estate Sales Professionals from every state are featured in America’s Best. Those ranked are among the top 1.5% of the 1.6 million real estate professionals in the U.S.
We have been ranked #22 of medium sized groups in the state of Georgia and #1 in Hall county and Lake Lanier!
I feel honored to lead the group of dedicated and hardworking agents and real estate support staff in our group. We are blessed and thankful with clients and friends who put their trust in us.
Thank you for your support.

Sheila Davis

Things to avoid after you have applied for a Mortgage!

Here are some important things to remember after you have applied for a Mortgage! Make sure you’re in the best position when you get to the closing table. Let’s connect so you can learn more about the homebuying process. The Sheila Davis Group 770-235-6907 sdavis@gonorton.com

5332 Point South Drive, Gainesville, GA 30504 ~ Pointe South on Lake Lanier

A unique and rare opportunity to own this elegant lake front home in “Pointe South” One of Lake Lanier’s most private and elegant communities with private docks! Located within close proximity to marinas and lake dining by boat, and close to Flowery Branch/Buford shopping and local restaurants. Enjoy magnificent year-round south lake views and a short, gentle landscaped walk to the private deep water twin slip party dock. Golf cart path in place from home to the dock. Experience privacy in this serene setting and beautiful gardens to enjoy the deer and other native animals and birds in this lakeside area.
This custom beautiful well-built and maintained home with 8,212 square feet has over 4400 +/- square feet on the main level, spacious rooms and lifted ceilings. The main floor features hardwood floors, a two-story foyer with a grand winding staircase to the Terrace level. Main floor Rooms include a formal study with custom millwork, a spacious open concept great room with lake views, French doors and lots of windows, a large center island kitchen with stainless appliances, gas cooktop. The kitchen is open to the fireside keeping room and breakfast room with spectacular lake views and opens to the backside covered porch. Walk out of the great room to the main level stone patio with fireplace, and back porch for relaxing and viewing the lake.
The owner’s suite features a sitting room with fireplace, with French doors to the stone patio, large windows and lake views! There is a spacious vaulted bathroom with skylights, large shower, whirlpool tub, and large custom closet off the laundry room. In addition, there is an additional main level ensuite and a powder room.
The finished daylight terrace level has a spacious family and recreation room, open to a second kitchen, fitness room, plus three ensuites. A secret bonus room upstairs can make a great office or playroom. There are eight exterior cameras, including one at the dock to stay with the home. HOA and covenants. There is a three-car garage with a separate storage room with a side entrance.
$2,495,000, FMLS #7218366 Sheila Davis 📱770-235-6907 additional listing information

5390 Larch Lane, Gainesville, GA 30506

🧜‍♂️Introducing 5390 Larch Lane, Gainesville, GA 30506, One of Lake Lanier’s Finest properties with magnificent two-mile water views, gorgeous deep water💦 and just steps to private twin slip 🚤dock with boat lift! 1st time this property has been on the market, this beautiful, gated lakefront home was built in 2017 and has all the upgrades and amenities for relaxing at the lake! Enjoy lake life year-round from the backyard stoned patio with firepit which has the best views on the property! Room for future pool just off the terrace level if desired. FMLS offered at $2,500,000, #7228834, Sheila Davis 📱770-235-6907 additional details

Main level features open plan with walls of glass, stone gas fireplace, hardwood floors, granite kitchen with stainless appliances and island, home office, and primary bedroom ensuite. The finished terrace level has a living/recreation area, three bedrooms, and a professional gym/sauna. There is unfinished space with steps above the three-car garage for expansion or storage. Special features include a rip rap shoreline, a home generator, Hot Springs salt water outdoor spa, outdoor shower, sauna, irrigation system (pumped from lake), security system and camera system, professional fitness room($30K equipment), whole house water filtration. Can be sold with the Kawasaki mule 🛺 and furnished. The left side of this lake lot is CORPS of Engineers which provides great privacy! No home will be built to your left. Extra two space parking off the left side of driveway for guests.