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    Balancing Your Wants and Needs as a Homebuyer This Spring

    Though there are more homes for sale now than there were at this time last year, there’s still an undersupply with fewer houses available than in more normal, pre-pandemic years. The Monthly Housing Market Trends Report from realtor.com puts it this way:

    “While the number of homes for sale is increasing, it is still 43.2% lower than it was before the pandemic in 2017 to 2019. This means that there are still fewer homes available to buy on a typical day than there were a few years ago.”

    The current housing shortage has an impact on how you search for a home this spring. With limited options on the market, buyers who consider what’s a necessity versus what’s a nice-to-have will be more successful in their home search.



    The first step? Get pre-approved for a mortgage. Pre-approval helps you better understand what you can borrow for your home loan, and that plays an important role in how you’ll put your list together. After all, you don’t want to fall in love with a home that’s out of reach. Once you have a good grasp on your budget, the best way to prioritize all the features you want and need in a home is to put together a list.

    Here’s a great way to think about them before you begin:

    • Must-Haves – If a house doesn’t have these features, it won’t work for you and your lifestyle.
    • Nice-To-Haves – These are features you’d love to have but can live without. Nice-to-haves aren’t dealbreakers, but if you find a home that hits all the must-haves and some of the these, it’s a contender.
    • Dream State – This is where you can really think big. Again, these aren’t features you’ll need, but if you find a home in your budget that has all the must-haves, most of the nice-to-haves, and any of these, it’s a clear winner.

    Finally, once you’ve created your list and categorized it in a way that works for you, give us a call and discuss it with us. We will be able to help you refine the list further, coach you through the best ways to stick to it and help find a home in your area that meets your needs. The Sheila Davis Group 770-235-6907

    Posted in: Buying a Lake home, Featured Posts, Our Blog, Selling your home Tagged: Buying a home 2023, Find the Best Realtor, Home Buyer

    An Expert Gives You Clarity in Today’s Housing Market


    The housing market has been going through shifts lately. That’s why it’s so important to work with an industry professional who can be your guide throughout the process.

    A real estate expert uses their knowledge of what’s really happening with home prices, housing supply, expert projections, and more to give you the best advice. Someone who can provide clarity like that is critical right now. 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 in the market. 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 help you understand what’s happening at the national and local levels, and 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 industry, 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

    For expert advice and the latest housing market insights, Give us a call – It’s more important now than ever to have a real estate expert on your side. The Sheila Davis Group 770-235-6907.

    Posted in: Buying a Lake home, Lake Lanier, Our Blog, Selling your home

    Could a Multigenerational Home Be the Right Fit for You?

    During the pandemic, many of us reexamined the meaning of home for ourselves and our loved ones. Today, that can be seen in the recent rise in multigenerational households. According to Jessica Lautz, Deputy Chief Economist and Vice President of Economic Research at the National Association of Realtors (NAR):

    “Multi-generational buying may be a home where families live in the same home with elderly parents, children who have boomeranged back home, or other extended family members. While this is not a new concept of living, it is one which has gained recent popularity.”

    And citing data from Pew Research Center, the Wall Street Journal (WSJ) says:

    “. . . multigenerational living has made a comeback in recent years, particularly after the 2008 financial crisis and during the pandemic.”

    So, if buying a multigenerational home has crossed your mind, you aren’t alone. Depending on what stage of homeownership you’re in, there are different reasons it could be the right fit. The chart below shows responses to a recent survey from NAR about the reasons people have bought a multigenerational home:

    Whether your motives are financial or focused on the people you’ll share your home with, a multigenerational home has distinct advantages. It can make homeownership more affordable, and it can help you best support your loved ones. As Lautz explains:

    “Multi-generational home buying is a way for families to care for one another, support one another, and often buy a home that may have been previously out of reach. . . . The trend of multigenerational buying appears to be firmly established and one that could expand in the future.”

    Bottom Line: If you’re ready to buy a house, consider the opportunities of a multigenerational home. Let’s connect so you can explore your options in our area.  The Sheila Davis Group 770-235-6907

    | MyKCM

    Posted in: Buying a Lake home, Featured Posts, Our Blog, Selling your home Tagged: Gainesville GA, Homes for sale, Lake Lanier, Luxury homes, multigenerational home

    Equity Gains for Today’s Homeowners

    Today’s homeowners are sitting on significant equity, even as home price appreciation has eased recently. If you’re a homeowner, your net worth got a boost over the past few years thanks to rising home prices. Here’s what it means for you, even as the market moderates.



    How Equity Has Grown in Recent Years 

    Because of the imbalance between how many homes were for sale and the number of homebuyers in the market over the past few years, home prices appreciated substantially.

    And while price appreciation has slowed this year, that doesn’t mean you’ve lost all the equity in your home. In fact, the latest Homeowner Equity Insights report from CoreLogic finds the average homeowner’s equity has grown by $34,300 over the past year alone.

    And if you’ve been in your home longer than that, chances are you have even more equity than you realize.

    While that’s the national number, if you want to know what happened in your area, look at the map below from the Federal Housing Finance Agency (FHFA). It shows on average how much home prices have risen over the past five years, which has been a major driver behind equity growth.

    Why This Is So Important Right Now 

    While equity helps increase your overall net worth, it can also help you achieve other goals, like buying your next home. When you sell your current house, the equity you’ve built up comes back to you in the sale, and it may be just what you need to cover a large portion – if not all – of the down payment on your next home.

    So, if you’ve been holding off on selling, it may be time to find out how much equity you have and how it can help fuel your next move.

    Bottom Line

    Homeownership is a long game, and if you’re planning to make a move, the equity you’ve gained over time can make a big impact. To find out just how much equity you have in your current home and how you can use it to fuel your next purchase, let’s connect. Give us a call today at Sheila Davis Group 770-235-6907.

    Posted in: Buying a Lake home, Featured Posts, Our Blog, Selling your home Tagged: home appreciation, home equity, sell my home

    An Expert Makes All the Difference When You Sell Your House

    If you’re thinking of selling your house, it’s important to work with someone who understands how the market is changing and what it means for you. Here are five reasons working with a professional,  such as The Sheila Davis Group, can ensure you’ll get the most out of your sale.

    1. They’re Experts on Market Trends

    With today’s housing market defined by change, it’s critical to work with someone who knows the latest information and how it impacts your goals. An expert real estate advisor knows about national trends and your local area too. More importantly, they’ll give insight to what all of this means for you, so they’ll be able to help you make a decision based on trustworthy, data-bound information.

    1. A Local Professional Knows How To Set the Right Price for Your Home

    Home price appreciation has moderated this year. If you sell your house on your own, you may be more likely to overshoot your asking price because you’re not as aware of where prices are today. Pricing your house too high can deter buyers or cause your house to sit on the market for longer.

    Real estate professionals look at a variety of factors, like the condition of your home and any upgrades you’ve made, with an unbiased eye. They compare your house to recently sold homes in your area to find the best price for today’s market so your house sells quickly.

    1. A Real Estate Advisor Helps Maximize Your Pool of Buyers

    Since buyer demand has cooled this year, you’ll want to do what you can to help bring in more buyers. Real estate professionals have a wide range of tools at their disposal, such as social media followers, agency resources, and the Multiple Listing Service (MLS), to ensure your house gets in front of people looking to make a purchase. Investopedia explains why it’s risky to sell on your own without the network an agent provides:

    “You don’t have relationships with clients, other agents, or a real estate agency to bring the largest pool of potential buyers to your home.”

    Without access to your agent’s tools and marketing expertise, your buyer pool – and your home’s selling potential – is limited.

    1. A Real Estate Expert Will Read – and Understand – the Fine Print

    Today, more disclosures and regulations are mandatory when selling a house. That means the number of legal documents you’ll need to juggle is growing. The National Association of Realtors (NAR) puts it like this:

    “There’s a lot of jargon involved in a real estate transaction; you want to work with a professional who can speak the language.”

    1. A Local Professional Is a Skilled Negotiator

    In today’s market, buyers are regaining some negotiation power. If you sell without an expert, you’ll be responsible for any back-and-forth. That means you’ll have to coordinate with:

    • The buyer, who wants the best deal possible
    • The buyer’s agent, who will use their expertise to advocate for the buyer
    • The inspection company, which works for the buyer and will almost always find concerns with the house
    • The appraiser, who assesses the property’s value to protect the lender

    Instead of going toe-to-toe with these parties alone, lean on an expert. They’ll know what levers to pull, how to address everyone’s concerns, and when you may want to get a second opinion.

    Bottom Line

    Don’t go at it alone. If you’re planning to sell your home this spring, let’s connect so you have an expert by your side to guide you in today’s market. Sheila Davis Group 770-235-6907, LakeLaniersFinest.com

    Posted in: Our Blog, Selling your home

    Number of Homes for Sale Up from Last Year, but Below Pre-Pandemic Years

    The biggest challenge in the housing market right now, and likely for years to come, is how few homes there are for sale compared to the number of people who want to buy. That’s why, if you’re thinking about selling your house, this is a great time to do so. Your house would be welcome in a market that has fewer homes for sale than it did in the years leading up to the pandemic.

    According to the latest Monthly Housing Market Trends Report from realtor.com:

    “There were 65.5% more homes for sale in January compared to the same time in 2022. This means that there were 248,000 more homes available to buy this past month compared to one year ago. While the number of homes for sale is increasing, it is still 43.2% lower than it was before the pandemic in 2017 to 2019. This means that there are still fewer homes available to buy on a typical day than there were a few years ago.”

    The graph below shows how today’s inventory of homes for sale compares to recent years:

    What Does This Mean for You?

    Fewer homes for sale means buyers have fewer choices than they did prior to the pandemic—and that frustration is leading some to give up on the homebuying process altogether. But with mortgage rates sitting lower than they were at the peak last fall, more buyers are willing to come back into the process—they just need to find homes to buy. This is welcome activity for the spring market, especially if you’re thinking of selling your house.

    With a renewed interest in buying a home for many, the New York Times (NYT) reports:

    “Home buyers are edging back into the market after being sidelined last year . . .”

    So, if you want to take advantage of a sweet spot in the market, this spring could be your shot.

    Bottom Line

    The housing market needs more homes for sale to meet the demand of today’s buyers. If you’ve thought about selling, now’s the time for us to connect and get ready for you to make a move this spring. Give us a call at The Sheila Davis Group 770-235-6907 and please check out our website at https://www.lakelaniersfinest.com/

    Posted in: Buying a Lake home, Featured Posts, Our Blog, Selling your home Tagged: Best Lake Lanier Realtors, Buford, Cumming, Dawsonville, Flowery Branch, Gainesville, Homes for sale, Lake Lanier

    Sheila Davis Group again one of Top 500 Realtors in the Greater Atlanta area

    THANK YOU to all of our wonderful clients who trusted us to help them with their real estate needs. We are thankful for each and every client and to those whom have referred us!
    If you ever have any questions about real estate, reach out to us! We are always here for you and happy to help you however we can!
    Sheila Davis Group
    770-235-6907

    LakeLanierFinest.com

    Posted in: Buying a Lake home, Featured Posts, Media Sheila Davis Group, Our Blog, Selling your home

    The Top Reasons for Selling Your House

    Many of today’s homeowners bought or refinanced their homes during the pandemic when mortgage rates were at history-making lows. Since rates doubled in 2022, some of those homeowners put their plans to move on hold, not wanting to lose the low mortgage rate they have on their current house. And while today’s rates have started coming down from last year’s peak, they’re still higher than they were a couple of years ago.
    Today, 93% of outstanding mortgages have a rate at or below 6%. That means a strong majority of homeowners with mortgages have a rate below what they’d get if they moved right now. But if you’re a homeowner in that position, remember that mortgage rates aren’t the only thing to consider when making a move. Your mortgage rate is important, but there are plenty of reasons you may still need or want to move.
    RealTrends explains:
    “Sellers who don’t have to move won’t be moving. The most common sellers will be: Homeowners downsizing . . . people moving to get more space, [households] looking for better schools…etc.”
    So, if you’re on the fence about selling your house, consider the other reasons homeowners are choosing to make a move. A recent report from the National Association of Realtors (NAR) breaks down why homeowners have decided to sell over the past year:
    As the visual shows, the most commonly cited reasons for selling were the desire to move closer to loved ones, followed by moving due to retirement, and their neighborhood becoming less desirable. Additionally, the need for more space factored in, as did a change in household structure.
    If you also find yourself wanting a change in location or needing space your current house just can’t provide, it may be time to sell.
    What you want and need in a home can be reason enough to move.
    Bottom Line
    When deciding whether or not to move, you have a lot to consider. There are plenty of non-financial reasons to factor in. Contact us today to weigh the benefits of selling your house now vs. later or for a no-obligation home evaluation! ☎770-235-6907. The Sheila Davis Group
    source MYKCM 2-6-2023

    Posted in: Buying a Lake home, Featured Posts, Our Blog, Selling your home

    Why It Makes Sense To Move Before Spring

    Spring is usually the busiest season in the housing market. Many buyers wait until then to make their move, believing it’s the best time to find a home. However, that isn’t always the case when you factor in the competition you could face with other buyers at that time of year. If you’re ready to buy a home, here’s why it makes sense to move before the spring market picks up.

    Spring Should Bring a Wave of Buyers to the Market

    In most years, the housing market goes through predictable seasonal trends in activity. Winter is typically a quiet point in the year, while spring sees a surge of buyers begin their search. And experts project that this year will be no exception.

    Right now, buyer demand is low due to a combination of normal seasonal trends and a reaction to last year’s rise in mortgage rates. But rates have started to come down since last November, which has more and more potential buyers planning to jump into the market. That means right now is a sweet spot if you’re in a good position to buy, before more buyers reappear. Affordability is beginning to improve, but demand is still low — for now. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), shares:

    “. . . expect sales to pick up again soon since mortgage rates have markedly declined after peaking late last year.”

    If you’re ready to buy a home, right now is the best time to do so before your competition grows and more buyers enter the market.

    Today’s Sellers Are Motivated

    Low demand from buyers often means sellers are more motivated to work with you, and that can set you up to buy a home on your terms. In fact, sellers have been more willing to negotiate this winter because there are fewer buyers in the market. According to a recent article from Forbes:

    “. . . sellers gave concessions to buyers in 41.9% of home sales in the fourth quarter of last year.”

    But keep in mind, the advantages buyers have this winter won’t last forever. The competition you face could be greater if you wait until spring to make a move, and increased buyer demand means sellers will have less motivation to negotiate with you. Be sure to work with a trusted real estate professional to learn what you can expect in your local market right now.

    Bottom Line

    If you’re in a good position to make a move, it may make sense to move before spring. Working with our team of expert real estate advisors is the best way to learn about the current market and what it means for you. Let’s connect today to determine the best plan to achieve your homebuying goals. The Sheila Davis Group 770-235-6907 – Lake Lanier’s #1 Realtors

    Posted in: Buying a Lake home, Media Sheila Davis Group, Our Blog, Selling your home Tagged: #1 Realtor on Lake Lanier

    Homebuyer loan requests jump 25% as mortgage rates continue to fall

    January 18, 2023  BY MATT CARTER   Inman Connect

    Two months of declining mortgage rates have finally got the attention of homebuyers, with demand for purchase loans jumping 25 percent last week as rates continued to descend toward 6 percent, according to a weekly survey of lenders by the Mortgage Bankers Association.

    “Mortgage application activity rebounded strongly in the first full week of January, with both refinance and purchase activity increasing by double-digit percentages compared to last week, which included the New Year’s holiday observance,” said MBA Chief Economist Mike Fratantoni, in a statement. “Despite these gains, refinance activity remains more than 80 percent below last year’s pace and purchase volume remains 35 percent below year-ago levels.”

    Mortgage rates in decline

    According to loan lock data tracked by Optimal Blue, rates on 30-year fixed-rate conforming mortgages hit a 2022 high of 7.16 percent on Oct. 24. Mortgage rates have been in a general downward trend since then, hitting a 2023 low of 6.15 percent on Thursday, Jan. 12.

    Rates have eased in the wake of the Federal Reserve’s Dec. 14 decision to slow the pace of short-term interest rate hikes, and more recent data that suggests inflation may be easing.

    “Mortgage rates are now at their lowest level since September 2022, and about a percentage point below the peak mortgage rate last fall,” Fratantoni said. “As we enter the beginning of the spring buying season, lower mortgage rates and more homes on the market will help affordability for first-time homebuyers.”

    For the week ending Jan. 13, the MBA reported average rates for the following types of loans:

    • For 30-year fixed-rate conforming mortgages (loan balances of $726,200 or less), rates averaged 6.23, down from 6.42 percent the week before. With points decreasing to 0.67 from 0.73 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans, the effective rate also decreased.
    • Rates for 30-year fixed-rate jumbo mortgages (loan balances greater than $726,200) averaged 6.08 percent, essentially unchanged from 6.09 percent the week before. With points decreasing to 0.4 from 0.66 (including the origination fee) for 80 percent LTV loans, the effective rate decreased.
    • For 30-year fixed-rate FHA mortgages, rates averaged 6.26 percent, down from 6.39 percent the week before. Although points increased to 1.05 from 1.03 (including the origination fee) for 80 percent LTV loans, the effective rate decreased.
    • Rates for 15-year fixed-rate mortgages, rates averaged 5.58, down from 5.94 percent the week before. With points decreasing to 0.54 from 0.62 (including the origination fee) for 80 percent LTV loans, the effective rate also decreased.
    • For 5/1 adjustable-rate mortgages (ARMs), rates averaged 5.31 percent down from 5.37 percent the week before. Although points increased to 0.74 from 0.72 (including the origination fee) for 80 percent LTV loans, the effective rate decreased.

    With the drop in rates, requests for ARM loans accounted for just 6.6 percent of all mortgage applications, down from 11.8 percent during the week ending Oct. 28.

    Requests for FHA loans accounted for 13 percent of last week’s applications, down from 13.4 percent the week before. VA loan applications accounted for 11.8 percent of loan requests, down from 13.2 percent the week before.

    As always, please give us a call if you would like to discuss your situation and how we can help you with your real estate goals!  or contact us here and we will give you a call!

    Posted in: Buying a Lake home, Featured Posts, Media, Media Sheila Davis Group, Our Blog, Selling your home Tagged: Home buyer demand, Home seller, mortgage rates

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