~ BILL AMES, BROKER
For sellers, the lack of supply or inventory of houses on the market that was driving prices upward over the past few years has begun to abate. Part of this change is due to continued new construction that is impacting inventory and comparative values. The result is that existing home sales need to be presented and priced competitively.
Interestingly, the popularity of townhomes seems to be on the rise with empty nesters and also millennials. Million dollar plus listings did particularly well in 2018.
Mortgage rates are in an interesting place right now. Jumbo rates continue to be lower that conforming loans, a client recently locked 3.5% on a 30 year fixed jumbo. Any big disruptions withstanding, the mortgage market looks fairly stable through the end of the year. This is positive news for sellers and buyers.
Home presentation styles have begun to evolve towards a more clean/minimalist approach. This makes sense as it is helping allow buyers to imagine the space as their own.
2018 was the second wettest year on record in Georgia and just shy of the record set in 1948. For homeowners drainage and water mitigation is becoming a factor even in historically dry homes because of ground saturation. Outdoor algae and mildew is growing even in the winter. Water is one of the most destructive elements to a home, being proactive with problems is wise.