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.

May 1, 2024

Thinking about buying a home?

 While today’s mortgage rates might seem a bit intimidating, here are two solid reasons why, if you’re ready and able, it could still be a smart move to get your own place.

1. Home Values Typically Go Up Over Time

There’s been some confusion over the past year or so about which way home prices are headed. Make no mistake, nationally they’re still going up. In fact, over the long-term, home prices almost always go up (see graph below):

 No Caption Received

Using data from the Federal Reserve (the Fed), you can see the overall trend is home prices have climbed steadily for the past 60 years. There was an exception during the 2008 housing crash when prices didn’t follow the normal pattern, but generally, home values kept rising.

This is a big reason why buying a home can be better than renting. As prices go up and you pay down your mortgage, you build equity. Over time, this growing equity can really increase your net worth. The Urban Institute says:

“Homeownership is critical for wealth building and financial stability.”

2. Rent Keeps Rising in the Long Run

Here’s another reason you may want to think about buying a home instead of renting – rent just keeps going up over the years. Sure, it might be cheaper to rent right now in some areas, but every time you renew your lease or sign a new one, you’re likely to feel the squeeze of your rent getting higher. According to data from iProperty Management, rent has been going up pretty consistently for the last 60 years, too (see graph below):

No Caption Received

So how do you escape the cycle of rising rents? Buying a home with a fixed-rate mortgage helps you stabilize your housing costs and say goodbye to those annoying rent increases. That kind of stability is a big deal.

Your housing payments are like an investment, and you’ve got a decision to make. Do you want to invest in yourself or keep paying your landlord?

When you own your home, you’re investing in your own future. And even when renting is cheaper, that money you pay every month is gone for good.

As Dr. Jessica Lautz, Deputy Chief Economist and VP of Research at the National Association of Realtors (NAR), says:

“If a homebuyer is financially stable, able to manage monthly mortgage costs and can handle the associated household maintenance expenses, then it makes sense to purchase a home.”

Conclusion

If you're tired of your rent going up and want to explore the many benefits of homeownership, talk to Harry Patel to explore your options.

 

April 20, 2024

Just listed Ranch home w/ Finished Basement - Camp Creek Elementary, Parkview Schools

 

5781 ROLLINGWOOD Drive SW, Stone Mountain, GA

Click here to Get Directions
5 BEDROOMS
3 BATHROOMS
0.45 acres Lot

It’s the one you have been waiting for: Large Ranch home with a rocking chair front porch, finished basement on a large lot and an extended parking pad, covered rear patio, deck, and a fenced yard. Step in and you will be greeted with updated tiled flooring, new carpet, updated light fixtures, fresh paint inside and out, and plenty of space for entertainment and family gatherings. The traditional well-defined floor plan includes a Formal Living Room with a bay window, Formal Dining Room, and a Family Room with a gas fireplace. The heart of the home is the gourmet kitchen offering endless possibilities, ample storage solutions, a new sink, and brand-new stainless-steel appliances. Casual dining area in the kitchen serves as the perfect backdrop for family meals and quick bites with views of the landscaped backyard. You will enjoy this huge Owner’s Suite with his/her walk-in closets, and walkout to the covered rear patio. Two additional spacious bedrooms on the main level provide ample daylight and large closet spaces. Finished basement with living area, 2 huge bedrooms and 1 full bath make it perfect for teens. An additional unfinished basement area is set up for a workshop and storage. Outdoor living is at its best with the large covered screened patio, deck, and a huge, fenced backyard – perfect for kids, pets, or the gardener in you.

 

Nearby parks, shopping, restaurants, and minutes to Stone Mountain Hwy. Make it yours! This home is clean and ready to move in.

 

NO HOA! Gwinnett County Schools Camp Creek Elementary/Trickum Middle /Parkview High School! Don't miss this opportunity.

 

Listed by Harry Patel, GA Realtor, Keller Williams Realty

April 13, 2024

Selling Your Home in Gwinnett County

Selling Your Home in Gwinnett County (Norcross, Stone Mountain, Lilburn, Snellville, Lawrenceville, Tucker Market) Strategies for Success with Harry Patel, Your Local Keller Williams Realty Expert.

The housing market is a dynamic beast, constantly shifting and evolving. Whether you're navigating a seller's market with low inventory and bidding wars, or a buyer's market with more choices and potentially lower prices, understanding the current conditions is crucial for selling your home successfully.

So, what does the current market hold? (Insert a brief, informative paragraph summarizing the current market condition in your area. Is it a seller's market with high demand and multiple offers? Or a buyer's market with more options and room for negotiation?)

Regardless of the specific market climate, here are some key strategies to help you sell your home and achieve your goals:

1. Know Your Market:

In-depth market knowledge is your greatest weapon. Partner with a local real estate agent who can provide accurate data on recent sales in your neighborhood, current listing inventory, and buyer trends. This information empowers you to set a competitive price that attracts qualified buyers while maximizing your profit potential. Here at Keller Williams Realty, we have access to a wealth of market data and resources to ensure you're making informed decisions.

2. Price it Strategically:

Pricing your home correctly is paramount. An overpriced home will linger on the market, deterring serious buyers and potentially forcing price reductions down the road. An underpriced home can sell quickly, but you might leave money on the table. Harry Patel, your Keller Williams Realty expert, utilizes his experience and market expertise to arrive at a strategic listing price that positions your home for success. He'll consider recent comps, market trends, and your specific goals to find the sweet spot that attracts qualified buyers and generates strong offers.

3. Highlight Your Home's Strengths:

Every home has unique selling points. Harry will work closely with you to identify what makes your property stand out. Is it a spacious backyard perfect for families? A modern kitchen ideal for entertaining? Proximity to desirable schools or amenities? Once you pinpoint your home's strengths, Harry will showcase them in the listing description, professional photos, and during open houses.

4. Enhance Curb Appeal:

First impressions matter. Investing in some curb appeal improvements can significantly boost buyer interest. Harry can offer guidance on simple things like power washing your siding, planting flowers, or adding a fresh coat of paint to your front door.

5. Stage for Success:

Staging is an art form that transforms a house into a desirable home. Declutter your space, depersonalize rooms, and arrange furniture to create a sense of flow and maximize functionality. Consider neutral colors and minimal décor to appeal to a broad range of buyers. Harry can recommend trusted staging services or provide tips for effective self-staging.

6. Leverage Professional Marketing:

In today's digital world, high-quality online presence is essential. Harry, as part of the Keller Williams Realty network, utilizes cutting-edge marketing tools to create a captivating listing with professional photos, detailed descriptions, and virtual tours (if available). He will leverage social media platforms and targeted online advertising to reach a wider audience of potential buyers.

7. Be Prepared for Negotiations:

While a seller's market might favor quick sales with multiple offers, negotiations can still occur. Be prepared to discuss closing costs, inspection contingencies, and other terms. Having Harry Patel by your side is a distinct advantage. His experience and negotiation skills will help you navigate this process effectively and secure the best possible outcome.

8. Be Patient and Flexible:

Even in a seller's market, selling your home can take time. Remain patient and trust the process. Be flexible with showing requests and open to feedback from potential buyers.

Why Partner with Harry Patel, Your Local Keller Williams Realty Expert?

The real estate market can be complex, and navigating it alone can be stressful. Partnering with a local, experienced real estate agent like Harry Patel can make all the difference. Here's how Harry can maximize your chances of success:

  • Market Expertise: Harry possesses a deep understanding of the Mountain Park market, including current trends, pricing strategies, and buyer demographics.
  • Proven Track Record: Harry has a history of successfully helping clients sell their homes in various market conditions, ensuring you benefit from his experience.
  • Skilled Negotiator: Harry's negotiation skills are honed to get you the best possible price for your home.
  • Keller Williams Advantage: As part of the Keller Williams Realty network, Harry has access to a wealth of resources, marketing tools, and a global network of potential buyers.

Ready to take the next step? Contact Harry Patel today for a free consultation. Let's discuss

April 12, 2024

4575 BRANDON Drive SW, Lilburn, GA

Pending

$ CLICK FOR CURRENT PRICE
4 BEDROOMS 2.5 BATHROOMS 0.42 acres Lot

It’s the one you have been waiting for: Large 4/2.5 home on a level corner lot with a side entry 2 car garage, large parking pad, fenced backyard, and sunroom. Step in and you will be greeted with updated flooring, light fixtures, fresh paint, and plenty of space for entertainment, family gatherings, or privacy. Traditional well-defined floor plan includes a Formal Living Room, Formal Dining Room, and a Family Room with a gas fireplace. The heart of the home is the gourmet kitchen offering endless possibilities with granite countertops, ample storage solutions, and a large pantry. The casual dining area in the kitchen serves as the perfect backdrop for family meals and quick bites with views of the landscaped backyard. The family room is spacious with a cozy brick gas log fireplace, ideal for relaxation and entertainment. Your friends will line up for summer get-togethers in the sunroom and on the deck. The laundry room is conveniently located on the first floor, making chores a breeze. Upstairs, you will enjoy the huge Owner’s Suite with a recently remodeled shower and a large walk-in closet. Three additional spacious bedrooms provide generous closet space, with a recently updated common bathroom. Outdoor living is at its best with the large sunroom, deck, and a huge, fenced backyard – perfect for kids, pets, or the gardener in you. Nearby parks, shopping, restaurants, and minutes to Stone Mountain Hwy. Make it yours! This home is clean and ready to move in. NO HOA! Gwinnett County Schools Shiloh Cluster! Don't miss this opportunity.

April 12, 2024

Selling Success: Securing Your Dream Home in a 55+ Community

Looking to downsize and enjoy a carefree lifestyle? This recent home sale is a fantastic example of how to make a smooth transition into a 55+ community. As a local realtor with Keller Williams Realty Atl. Partners, I'm thrilled to share my client's success story and some valuable tips for navigating a similar move.

The Challenge: A Time-Sensitive Opportunity

My client, Ms. Ivey, had a fantastic opportunity to move into a 55+ community offering the amenities, no-maintenance living, and single-story floorplan she desired. The catch? She had just 30 days to sell her current home in order to secure this exciting new chapter.

The Solution: Strategic Marketing & Fast Action

We knew time was of the essence. Here's what we did to achieve a quick and successful sale:

  • Competitive Market Analysis: We conducted a thorough market analysis to determine the optimal listing price for her home.
  • Targeted Marketing Strategy: We created a targeted marketing campaign highlighting the home's features that would appeal to potential buyers seeking a similar move to a 55+ community. This included high-quality photos, virtual tours (if available), and emphasizing location and amenities.
  • Open House & Showings: We facilitated open houses and individual showings to create a sense of urgency and maximize buyer interest.
  • Negotiation Expertise: We leveraged our negotiation skills to secure a strong offer above appraised value.

The Result: A Successful Move & Exceeding Expectations

The outcome? We successfully listed, went under contract, and closed on the sale within 30 days, exceeding appraised value by a remarkable $10,000! This allowed [Client Name] to confidently secure her spot in the 55+ community and embark on her new adventure.

Tips for Selling Your Home Quickly

Here are some key takeaways for sellers looking for a fast and successful sale:

  • Price it Right: A competitive price attracts more buyers and reduces time on the market.
  • Highlight Selling Points: Emphasize features that resonate with your target buyer.
  • Stage Your Home: Create a clean, inviting space that showcases its potential.
  • Partner with a Skilled Realtor: An experienced realtor can guide you through the process and provide valuable marketing expertise.

Thinking of Moving to a 55+ Community?

Are you considering a move to a 55+ community and want to know your options? As a local realtor familiar with the Atlanta area, I can help you navigate your selling process and find your perfect new home.

Contact me today for a free consultation!

 

HarryPatelRealEstateReviews

#KellerWilliams #RealEstate #55+Community #AtlHomes

 

April 6, 2024

New Listing - Harry Patel Real Estate

 
 
  Instant Update

4575 BRANDON Drive SW in Lilburn, GA Just Listed For Sale!
 
If you or anyone you know may be interested in more information, price, photos and more for this home, please share or click below:
 
4575 BRANDON Drive SW, Lilburn, GA
 
 
Or go to:
4575BRANDOND.TheBestListing.com
 
Or text 145191 to 25678.
 
Get your real time actual home value now!
 
When this home is sold,
it will affect YOUR home's value!
 
I would like to invite you to find out the new value of your home using today's technology at a website I created that will provide you with this information at:
 
https://HarryPatel.FreeHomeValues.net
 
Get your FREE home value now!
 
I hope you find this helpful and, as always, I appreciate your consideration in referring any friends, family, or colleagues my way. Again, thank you for supporting me and my business endeavors and do not hesitate to let me know if you have any questions about anything related to real estate or your home!
 
Best Wishes,
 
 
March 14, 2024

827 GREY ROCK Road, Norcross, GA - Under Contract

 

827 GREY ROCK Road, Norcross, GA - Under Contract 4 days and above asking price.   Are you thinking of selling ?

 

Click here to Get Directions
4 BEDROOMS
2.5 BATHROOMS
0.13 sqft Lot

It’s the one you have been waiting for: Large open floor plan 4/2.5 home with flex room, level lot and lots of daylight offers the perfect balance between sophistication and warmth. Step in and you will be greeted with a two-story foyer, hardwood floors which lead to Formal Living Room w/ bay window, Formal Dining room with crown molding and trey ceiling. THE HEART OF THE HOME is the gourmet kitchen with plenty of counter space, Corian countertops, ample storage solutions, large pantry and a huge Island offering flexibility and endless possibilities. The casual dining area in the kitchen serves as the perfect backdrop for heartwarming family meals and lively social gatherings. The family room is spacious with wall-to-wall windows bathing the space in natural light, and a cozy gas fireplace making it an ideal setting for relaxation and entertainment. Upstairs, you will enjoy the huge Owner’s Suite with a sitting area. Master’s bathroom with a garden tub, a separate shower, His and Her Vanity, and a BIG walk-in closet. The additional three spacious bedrooms provide generous closet space. A versatile/flex bonus room provides the freedom to create your ideal space – be it a home office, nursery, or personal gym. Enjoy outdoor living - level backyard with a patio - ideal for entertaining and is perfect for kids, pets, or the gardener in you. The laundry room is conveniently located on the first floor making chores are a breeze. Nearby parks, shopping, restaurants, and minutes from I-85 and Stone Mountain Hwy. MAKE IT YOURS! This home is clean, owned and loved by a single homeowner since built. Home includes full set of appliances and is READY to MOVE IN. Don't let this opportunity pass you by. 

March 9, 2024

Norcross Listing Open House Today 12-4

827 GREY ROCK Road, Norcross, GA

Click here to Get Directions
4 BEDROOMS
2.5 BATHROOMS
0.13 sqft Lot

It’s the one you have been waiting for: Large open floor plan 4/2.5 home with flex room, level lot and lots of daylight offers the perfect balance between sophistication and warmth. Step in and you will be greeted with a two-story foyer, hardwood floors which lead to Formal Living Room w/ bay window, Formal Dining room with crown molding and trey ceiling. THE HEART OF THE HOME is the gourmet kitchen with plenty of counter space, Corian countertops, ample storage solutions, large pantry and a huge Island offering flexibility and endless possibilities. The casual dining area in the kitchen serves as the perfect backdrop for heartwarming family meals and lively social gatherings. The family room is spacious with wall-to-wall windows bathing the space in natural light, and a cozy gas fireplace making it an ideal setting for relaxation and entertainment. Upstairs, you will enjoy the huge Owner’s Suite with a sitting area. Master’s bathroom with a garden tub, a separate shower, His and Her Vanity, and a BIG walk-in closet. The additional three spacious bedrooms provide generous closet space. A versatile/flex bonus room provides the freedom to create your ideal space – be it a home office, nursery, or personal gym. Enjoy outdoor living - level backyard with a patio - ideal for entertaining and is perfect for kids, pets, or the gardener in you. The laundry room is conveniently located on the first floor making chores are a breeze. Nearby parks, shopping, restaurants, and minutes from I-85 and Stone Mountain Hwy. MAKE IT YOURS! This home is clean, owned and loved by a single homeowner since built. Home includes full set of appliances and is READY to MOVE IN. Don't let this opportunity pass you by. 

Posted in Home Buyers
March 7, 2024

What’s Up with Real Estate?

 

National news and local views for the week ending Friday, March 1, 2024

Harry Patel

This space allows you to include your own personalized introduction. We recommend a friendly greeting to your readers and a brief reference to this week’s feature articles!

National Real Estate News

How close is close enough?

The Fed's target for inflation is 2% on the "core" PCE (Private Consumption Expenditures). At its peak in mid-2022, "core" PCE was running at 5.6% YoY. We've come a long way already. In January 2024, "core" PCE eased to 2.8% YoY (from 2.9% in Dec 2023). And if you annualized the last 8 months, we're running at a 2.2% pace! [BEA] How close do we need to get to 2% before the Fed starts to cut rates?

How close is close enough?
Four crazy years

Now that we’ve got the Case-Shiller home price data for December 2023, we can zoom out and remind ourselves just how enormous the home price movements have been since the end of 2019. Over the last four years, Case-Shiller's national home price index rose an incredible 47%. And over the last 35 years, the index climbed roughly 5% per year. Talk about a winning record! [S&P Global DJI]

Four crazy years
Still above 7%

Average 30-yr mortgage rates stayed above 7% for the third-straight week, and higher rates are already dampening transaction activity. After jumping 9.4% month-over-month in Dec 2023, pending sales (signed contracts) backtracked 4.9% MoM in January 2024. [National Association of Realtors] This suggests that existing home sales for February will drop below 4 million units (annualized) again.

Still above 7%

Local Market Trends

As of Friday, March 1, 2024

Harry Patel

Here you can enhance your area’s housing market data with your own insights and commentary!

Area Median Price Active Listings New Listings - 5 days Median Days on Market
Lilburn, GA
$449,500
Trend Arrow
0%
115
Trend Arrow
0.4%
18
24
Trend Arrow
-0.4%
Local Market Trends (Red downwards arrow/Green upwards arrow) from Feb. to Mar. 2024.
Harry Patel
Keller Williams Atlanta Partners
License #298422

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Jan. 19, 2024

Key Terms Every Homebuyer Should Learn




Some Highlights

  • Buying a home is a big deal and can feel especially complicated if you don't know the terms used during the process.
  • If you want to become a homeowner this year, it's a good idea to learn these key housing terms and understand how they relate to the current housing market. That will help you feel confident when you buy a home.
  • Let’s connect so you can get expert help with any questions you have.