Gwinnett County Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local single family market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!  We are your local parkview and brookwood school real estate expert.  Give Harry a call at 404-213-6811 and find out how Harry Patel can help you sell your home for the most money and least hassle.

March 23, 2023

Real Estate News - Harry Patel

Why Buying a Home Is a Sound Decision
Why Buying a Home Is a Sound Decision

If you’re thinking about buying a home, you want to know the decision will be a good one. 

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The Role of Access in Selling Your House
The Role of Access in Selling Your House
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What’s Ahead for Home Prices in 2023
What’s Ahead for Home Prices in 2023
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Here’s Why the Housing Market Isn’t Going To Crash [INFOGRAPHIC]
Here’s Why the Housing Market Isn’t Going To Crash [INFOGRAPHIC]
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What Buyer Activity Tells Us About the Housing Market
What Buyer Activity Tells Us About the Housing Market
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Thinking of Buying?

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Thinking of Selling?

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Harry Patel
Keller Williams Realty Atlanta Part.
Lilburn, GA, 30047
(404) 213-6811
harrypatelrealestate.com
 
March 9, 2023

Top 10 ways to save up for a down payment for a home

 

  1. Create a budget and stick to it.
  2. Reduce unnecessary expenses such as eating out or subscription services.
  3. Increase your income by taking on a side job or asking for a raise.
  4. Save windfalls such as tax refunds or bonuses.
  5. Use a high-yield savings account to earn interest on your savings.
  6. Consider a low-interest personal loan or borrowing from family and friends.
  7. Sell items you no longer need or use.
  8. Cut back on housing costs by downsizing or renting a cheaper place.
  9. Look for government assistance programs for first-time homebuyers.
  10. Be patient and continue to save consistently.

 

Buying a Home May Make More Sense Than Renting 

Buying a Home May Make More Sense Than Renting [INFOGRAPHIC] | MyKCM

Some Highlights

  • If you're in the process of making a decision between renting or buying your first home, there are several factors that you should take into account.
  • Owning a single family home can provide an escape from the pattern of increasing rents, contribute to the growth of your assets, and act as a safeguard against inflation.
  • If you're prepared to enjoy the advantages that come with owning a home, let's get in touch and discuss the possibilities.

 

March 7, 2023

Are you ready for Spring

Spring is the perfect time to spruce up your outdoor space and start planting that garden you’ve been dreaming of. With the right landscaping tips, you can make your yard look beautiful and inviting. Here are a few tips to get you started:


1. Start By Preparing Your Soil

Before planting anything in your yard, it is important to prepare your soil. Test the pH level, add organic material such as compost or mulch, and remove any large rocks or debris. Tilling or digging the soil can also help aerate it and control weeds.

2. Invest In Water-Wise Plants

With spring come warmer temperatures and longer days, which means more sunlight for plants to thrive! To conserve water in dry climates, opt for drought-tolerant plants like succulents, cacti, agaves, yuccas, and aloes. These types of plants are easy to care for and require little maintenance once planted.

3. Plant Perennials

Perennials are plants that return each year without needing to be replanted each season - making them an ideal choice if you want a low-maintenance landscape design! Consider tulips, lilies, or daylilies for some colorful visuals!

4. Prioritize Shade Trees

No matter where you live, shade trees can provide many benefits, including cooling down hot areas around your home, reducing energy costs from air conditioning, and providing habitats for wildlife animals. If you have limited space in your yard, prioritize larger trees since they will grow faster than smaller shrubs over time and provide more shade coverage for the entire property.

5. Invest In Hardscaping Elements

In addition to plants, hardscaping elements like pathways, walls, or fences can help enhance the appearance of your outdoor space while providing additional features such as privacy or extra seating areas. Consider adding gravel walkways throughout your garden beds or a fence around a vegetable patch to deter pests from entering!


With these simple tips, you can create a one-of-a-kind landscape design that will bring life and beauty into your outdoor area all year round! Don’t forget to consult a professional before starting any projects - especially if you’re dealing with different types of soils or tricky slopes on your property. Happy landscaping!

Posted in Home Ownership
March 6, 2023

Where Will You Go After You Sell Your House?

 

Where Will You Go After You Sell Your House? [INFOGRAPHIC] | MyKCM

Some Highlights

  • If you’re thinking of selling your house, be sure to explore all the options you have for your next home.
  • Both newly built homes and existing homes offer plenty of unique benefits.
  • If you have questions about the options in our area, let’s discuss what’s available and what’s right for you.
Feb. 21, 2023

Spring into Action: Boost Your Home’s Curb Appeal with Expert Guidance

Spring into Action: Boost Your Home’s Curb Appeal with Expert Guidance | MyKCM

 

To sell your home this spring, it may need more preparation than it would have a year or two ago. Today’s housing market has a different feel. There are more homes for sale than there were at this time last year, but inventory is still historically low. So, if a house has been sitting on the market for a while, that’s a sign it may not be hitting the mark for potential buyers. But here’s the thing. Right now, homes that are updated and priced at market value are still selling fast.

Today, homes with curb appeal that are presented well are still selling quickly, and sometimes over asking price. According to Danielle Hale, Chief Economist at realtor.com:

“In a market where costs are still high and buyers can be a little choosier, it makes sense they’re going to really zero in on the homes that are the most appealing.”

With the spring buying season just around the corner, now’s the time to start getting your house ready to sell. And the best way to determine where to spend your time and money is to work with a trusted real estate agent who can help you understand which improvements are most valuable in your local market.

Curb Appeal Wins

One way to prioritize updates that could bring a good return on your investment is to find smaller projects you can do yourself. Little updates that boost your curb appeal usually work well. Investopedia puts it this way:

“Curb-appeal projects make the property look good as soon as prospective buyers arrive. While these projects may not add a considerable amount of monetary value, they will help your home sell faster—and you can do a lot of the work yourself to save money and time.”

kcm-graphic-4603-feed

Small cosmetic updates, like refreshing some paint and power washing the exterior of your home, create a great first impression for buyers and help it stand out. Work with a real estate professional to find the low-cost projects you can tackle around your house that will appeal to buyers in your area.

Not All Updates Are Created Equal

When deciding what you need to do to your house before selling it, remember you’re making these repairs and updates for someone else. Prioritize projects that will help you sell faster or for more money over things that appeal to you as a homeowner.

The 2022 Remodeling Impact Report from the National Association of Realtors (NAR) highlights popular home improvements and what sort of return they bring for the investment (see graph below):

Spring into Action: Boost Your Home’s Curb Appeal with Expert Guidance | MyKCM

Remember to lean on your trusted real estate advisor for the best advice on the updates you should invest in. They’ll know what local buyers are looking for and have the latest insights of what your house needs to sell quickly this spring.

Summary

 

As we approach the spring season, now’s the time to get your house ready to sell. Let’s connect today so you can find out which updates make the most sense.

Feb. 10, 2023

Lilburn Home Sold - Your property Value just changed

514 Baltimore Ave, Lilburn, GA

$360000

3bed - 2bath - 0.57 acres lot
Property Video | Photos | Maps & Local | Schools | Print

Your family will love living in this large ranch home located in the popular Parkview school system w/ Camp Creek ES. Rocking chair front porch and a quiet street will welcome you as you pull up to your new home. Home offers Cozy Eat-in Kitchen, Formal dining, Formal Living, Den w/wood burning fireplace, and a huge great room with plenty of sunlight, vaulted ceilings that will lead you to a deck on one side and a patio on the other side for lots of entertaining opportunities. Spacious bedrooms, Master with his and hers closets, step in shower, secondary bedrooms are bright and have big closets. Fenced backyard is perfect for entertaining, campfires, playing sports and gardening. The long driveway is well suited for your RV or boat. NO HOA! Commuters dream w/ easy access to Hwy 78, close to more than 5 community parks, Greenway walking trail, dog parks, Mountain Park Aquatic Center, local shopping, dining and Eastside, CDC, Emory and the VA.

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agent
Harry Patel
Realtor, Keller Williams Realty Atl. Partners
404-213-6811
Licensed In: GA
License #: 298422
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Jan. 18, 2023

Have Home Values Hit Bottom?

Have Home Values Hit Bottom? | MyKCM

Whether you’re already a homeowner or you’re looking to become one, the recent headlines about home prices may leave you with more questions than answers. News stories are talking about home prices falling, and that’s raising concerns about a repeat of what happened to prices in the crash in 2008.

One of the questions that’s on many minds, based on those headlines, is: how much will home prices decline? But what you may not realize is expert forecasters aren’t calling for a free fall in prices. In fact, if you look at the latest data, there’s a case to be made that the biggest portion of month-over-month price depreciation nationally may already behind us – and even those numbers weren’t significant declines on the national level. Instead of how far will they drop, the question becomes: have home values hit bottom?

Let’s take a look at the latest data from several reputable industry sources (see chart below):

Have Home Values Hit Bottom? | MyKCM

The chart above provides a look at the most recent reports from Case-Shiller, the Federal Housing Finance Agency (FHFA), Black Knight, and CoreLogic. It shows how, on a national scale, home values have changed month-over-month since January 2022. November and December numbers have yet to come out.

Let’s focus in on what the red numbers tell us. The red numbers are the change in home values over the last four months that have been published. And if we isolate the last four months, what the data shows is, in each case, home price depreciation peaked in August.

While that doesn’t guarantee home price depreciation has hit rock bottom, it does confirms prices aren’t in a free fall, and it may be an early signal that the worst is already behind us. As the numbers for November and December are released, data will be able to further validate this national trend.

The Bottom Line

Single Family Home prices month-over-month have depreciated for the past four months on record, but there’s a strong case to be made that the worst may be behind us. If you have questions about what’s happening with home prices in our local market, let’s connect.

Jan. 17, 2023

Think Twice Before Waiting for 3% Mortgage Rates

Think Twice Before Waiting for 3% Mortgage Rates | MyKCM

Last year, the Federal Reserve took action to try to bring down inflation. In response to those efforts, home mortgage rates jumped up rapidly from the record lows we saw in 2021, peaking at just over 7% last October. Home shoppers experienced a hit to their purchasing power as a result, and some decided to press pause on their plans.