Georgia Real Estate Market Trends For February 2022

Georgia Real Estate Market Trends For February 2022 provided by Arthur Prescott at Berkshire Hathaway HomeServices Georgia Properties on Georgia's Lake Sidney Lanier.

Lake Sidney Lanier Homes is the most comprehensive online source for information on Lake Lanier homes for sale and Lake Lanier area real estate. View the latest Lake Lanier home listings, foreclosures, lots, land, sales trends, and real estate topics on Lake Lanier. Arthur Prescott is an Accredited Buyer's Representative and Certified Residential Specialist with Berkshire Hathaway HomeServices Georgia Properties. He has over nineteen years of Lake Lanier real estate experience. If you would like to schedule a free buyer or seller consultation, please feel free to contact us directly at www.LakeSidneyLanierHomes.com or 770-844-8484 or email us at Arthur.Prescott@BHHSGeorgia.com.

Lake Lanier Waterfront Home Sales For February 2022! Let's Check Sales Trends!

Lake Lanier Waterfront Home Sales For February 2022! Let's Check Sales Trends!



The numbers are in for Lake Lanier home sales for the month of February 2022! Here is a brief recap of the home sales as reported in our comparative market analysis that we will provide via SlideShare later in this article.

Lake Lanier waterfront homes sold:  19

The highest home price sale was $3,825,000

The lowest home price sale was $339,999

The average home sold had four bedrooms, three bathrooms, and one half bathrooms

The average original list price was $1,147,084

The average list price after price adjustments was $1,139,168

The average sales price was $1,126,263

Sales price vs original list price ratio came in at 100.09 %

Average total days on the market was 22

Lake Lanier Home Sales Analysis February 2022 from Arthur Prescott

Our market analysis is generated at the beginning of each month. It is designed to show you Lake Lanier home sales statistics. Each month, we search the First Multiple Listing Service for home sales (closings) based on the following criteria:

Area: All counties with frontage on Lake Lanier. Specifically Forsyth, Dawson, Lumpkin, Hall, and Gwinnett counties.

Status: Sold (Closed Transactions)

Lake Frontage: The home must be a waterfront property on Lake Lanier as described as lake frontage in the First Multiple Listing Ser

Property Category: Our analysis includes only residential detached homes as categorized in FMLS.

This market analysis is deemed to be accurate but is not warranted. It is meant to give a general idea and overview of the current housing market for waterfront homes on Lake Lanier.

Lake Sidney Lanier Homes is the most comprehensive online source for information on Lake Lanier homes for sale and Lake Lanier area real estate. View the latest Lake Lanier home listings, foreclosures, lots, land, sales trends, and real estate topics on Lake Lanier. Arthur Prescott is an Accredited Buyer's Representative and Certified Residential Specialist with Berkshire Hathaway HomeServices Georgia Properties. He has over nineteen years of Lake Lanier real estate experience. If you would like to schedule a free buyer or seller consultation, please feel free to contact us directly at www.LakeSidneyLanierHomes.com or 770-844-8484 or email us at Arthur.Prescott@BHHSGeorgia.com.

Berkshire Hathaway HomeServices Talking Real Estate Newsletter- March 2022

MARCH 2022 Whether you own a home or looking to buy or sell one, here are the latest Good To Know articles for when you’re ready to take the next step in finding your Forever Home. Berkshire Hathaway HomeServices Georgia Properties Arthur Prescott REALTOR®, ABR, CRS Cell: 770-309-7531 Office: 770-844-8484 arthur.prescott@bhhsga.com www.LakeSidneyLanierHomes.com   LUXURY, SMART TECHNOLOGIES, HOMEOWNERS, HOMEBUYERS, LIFESTYLE Five Home Décor Trends for 2022 The way Americans use their homes has changed since the advent of the pandemic and has encouraged interior design trends for 2022.  These ideas are so smart, they’re likely to stick around even after the pandemic is over. Smart furniture – According to Puffy.com, the smart furniture industry is on track to reach $244 million by 2024. Televisions can double as artwork when turned off, couches, beds, and chairs offer charging ports, but most exciting are coffee tables that come with refrigerator drawers so you never have to leave the game to grab a cold one. Muted but colorful décor – Color palettes for 2022, such as those suggested by Benjamin Moore, are calling for blue, green, and yellow colors on the paler side, far from the dark and moody jewel, spice, and deep ocean shades of recent years. Vintage accents – Whenever life seems chaotic, homeowners become nostalgic for simpler times. Housebeautiful.com explains that vintage furniture and accessories feature craftsmanship, materials, and a flair for individuality that can’t be duplicated today. Large floral patterns are great to pair with stripes or abstract fabrics.   Multifunctional room design – Working from home makes, homeowners want more space, but Brick.com says that space should be more flexible. The room where you put your desk may also have an integrated workout area.    Curved furniture – Room design, furniture, and accessories will feature elements that feel like a soft comforting cuddle, says 2modern.com. Rounded edges are a welcome change from the geometric look of modern furniture. HOMEBUYERS, HOMEOWNERS, HOME SELLERS, FINANCE Late Payments and Credit Scores Consumers who make late credit payments have no idea how badly their credit scores can be affected or how long it takes to repair the damage.  According to Nerdwallet.com, a late payment of 30 days or more can knock as many as 100 points off your credit score and stay on your credit report for up to seven and a half years. FICO scores, the credit-scoring system used by the Fair Isaac Corporation, help banks and other lenders determine a borrower’s creditworthiness. Your scores can change with every new report from a creditor, but nothing impacts credit scores like a missed payment. Your payment history accounts for 35 percent of your FICO score, advises credit bureau Experian.com. Other factors include the amounts owed (30%) credit history length (15%), types of credit (10%) and new credit (10%.) If you’re late making a late payment on an account, don’t despair. Equifax.com, another credit bureau, explains that the payment due date on your statement or bill is the last day you can pay on your account without incurring late fees. Lenders routinely report accounts to credit bureaus at least 30 days after the payment due date, and they often don’t report late payments until they’re 60 days past due. Even if your payment is late, go ahead and make it. If you can pay the amount due in full, some lenders won’t report the late payment. You’ll have to pay whatever late fees are levied, but your credit score will remain intact. LIFESTYLE, HOMEOWNERS, HOMEBUYERS, HOME IMPROVEMENT Built-in, Outdoor Bar-b-que Grills Building an outdoor grill in your backyard can help you enjoy pleasant weather while providing your family with delicious meals. Whether you do it yourself, hire a landscape architect, or get a kitchen specialist to design your outdoor kitchen, you’ll take full advantage of your outdoor space and the comforts and entertainment it can provide. There are many items to consider when installing a built-in outdoor grill, including location, ventilation, type of grill, and features. Will you need to install a gas line to the grill? Will there be water available? Do you plan to have other kitchen functions such as storage, an ice maker, and an outdoor dining area? You’ll want to locate the grill at least 10 feet from the house. Use fire-retardant materials such as stainless steel, stone, or bricks for countertops and retaining walls. Most grills have lids to retard fire, but where the smoke blows are also crucial. The BBQGuys maintain that proper ventilation sucks out scorching heat and keeps smoke and odor away from you while you’re grilling and your guests. It also vents grease, fumes, and discoloration from your outdoor kitchen surfaces which reduces fire hazards. If you prefer gas, contact your gas company to find a reputable gas contractor and get more than one bid. Charcoal and propane tank grills offer more flexibility in where you install them. Make grilling outdoors more convenient by finishing out the area with amenities like built-in trashcans, side burners, sinks, and a drink station. Don’t forget to check into your local building codes; there may be rules you need to follow, and your project could require a building or plumbing permit, depending on the scope of your plans. LUXURY, LIFESTYLE, TRANSACTION ADVICE, HOMEBUYERS, HOMEOWNERS Buying a Second Home Overseas As a world traveler, you may revisit a country area again and again for its beauty, culture, people or lifestyle and decide you’d like to buy a second residence there. For your first step, The Philadelphia Inquirer recommends hiring a property lawyer in the country where you want to buy, as well as having a lawyer stateside to advise you. Some overseas countries don’t allow noncitizens to purchase real estate, while others allow it, but they may have visa restrictions on when you can enter the country. Most U.S. banks won’t lend money for foreign home buying, and some places either don’t have mortgage lending available, or they impose higher interest rates or require hefty down payments of 30% to 50% of the property’s value, according to Investopedia.com. Transaction costs may be higher than stateside, including property transfer fees or stamp duties that can add 10% or more to the sales price, as well as other fees. If you qualify for an overseas loan, you may be required to carry life insurance with the lender as a beneficiary. Ironically, the interest you pay on your foreign home’s mortgage may be tax-deductible in the U.S., if the principal is $750,000 or less. In 2025, the ceiling is scheduled to rise to $1 million. Check with your tax advisor for more specifics before committing to the loan; the actual amount available for deduction can depend on individual factors.  Berkshire Hathaway HomeServices is expanding its services across the globe, and currently has offices in Canada, Mexico, Germany, England, Italy, Spain, Greece, Dubai, Bahamas, and India. Contact your Berkshire Hathaway HomeServices network professional for a referral to an overseas affiliate. GA Lic #: 246526 325 Brannon Rd. Ste. 200 Cumming, GA 30041 ©2022 BHH Affiliates, LLC. Real Estate Brokerage Services are offered through the network member franchisees of BHH Affiliates, LLC. Most franchisees are independently owned and operated. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of Columbia Insurance Company, a Berkshire Hathaway affiliate. Information not verified or guaranteed. If your property is currently listed with a Broker, this is not intended as a solicitation. Equal Housing Opportunity.

Lake Sidney Lanier Homes is the most comprehensive online source for information on Lake Lanier homes for sale and Lake Lanier area real estate. View the latest Lake Lanier home listings, foreclosures, lots, land, sales trends, and real estate topics on Lake Lanier. Arthur Prescott is an Accredited Buyer's Representative and Certified Residential Specialist with Berkshire Hathaway HomeServices Georgia Properties. He has over nineteen years of Lake Lanier real estate experience. If you would like to schedule a free buyer or seller consultation, please feel free to contact us directly at www.LakeSidneyLanierHomes.com or 770-844-8484 or email us at Arthur.Prescott@BHHSGeorgia.com.

The latest housing market statistics for the Lake Lanier Georgia Area!

Here are the latest housing market statistics for the Lake Lanier Georgia Area, including Cumming, Gainesville, Dawsonville, Oakwood, Flowery Branch, and Buford! If you'd like more detail on the market, what's available or how much your home might be worth, let's set up a meeting to discuss! #houseexpert #housingmarketexpert #house #home #listreports #localhousingdata #areaexpert #realestate #realestateagent #househunting #homeowner #hometrends #housingtrends

Lake Sidney Lanier Homes is the most comprehensive online source for information on Lake Lanier homes for sale and Lake Lanier area real estate. View the latest Lake Lanier home listings, foreclosures, lots, land, sales trends, and real estate topics on Lake Lanier. Arthur Prescott is an Accredited Buyer's Representative and Certified Residential Specialist with Berkshire Hathaway HomeServices Georgia Properties. He has over nineteen years of Lake Lanier real estate experience. If you would like to schedule a free buyer or seller consultation, please feel free to contact us directly at www.LakeSidneyLanierHomes.com or 770-844-8484 or email us at Arthur.Prescott@BHHSGeorgia.com.

Lake Lanier Waterfront Home Sales For January 2022! Let's Check Sales Trends!

Lake Lanier Waterfront Home Sales For January 2022! Let's Check Sales Trends!



The numbers are in for Lake Lanier home sales for the month of January 2022! Here is a brief recap of the home sales as reported in our comparative market analysis that we will provide via SlideShare later in this article.

Lake Lanier waterfront homes sold:  16

The highest home price sale was $2,120,000

The lowest home price sale was $360,000

The average home sold had four bedrooms, three bathrooms, and no half bathrooms

The average build date was: N/A

The average original list price was $1,009,906

The average list price after price adjustments was $958,344

The average sales price was $950,656

Sales price vs original list price ratio came in at 94.23 %

Average total days on the market was 37

Lake Lanier Home Sales Analysis January 2022 from Arthur Prescott

Our market analysis is generated at the beginning of each month. It is designed to show you Lake Lanier home sales statistics. Each month, we search the First Multiple Listing Service for home sales (closings) based on the following criteria:

Area: All counties with frontage on Lake Lanier. Specifically Forsyth, Dawson, Lumpkin, Hall, and Gwinnett counties.

Status: Sold (Closed Transactions)

Lake Frontage: The home must be a waterfront property on Lake Lanier as described as lake frontage in the First Multiple Listing Ser

Property Category: Our analysis includes only residential detached homes as categorized in FMLS.

This market analysis is deemed to be accurate but is not warranted. It is meant to give a general idea and overview of the current housing market for waterfront homes on Lake Lanier.

Lake Sidney Lanier Homes is the most comprehensive online source for information on Lake Lanier homes for sale and Lake Lanier area real estate. View the latest Lake Lanier home listings, foreclosures, lots, land, sales trends, and real estate topics on Lake Lanier. Arthur Prescott is an Accredited Buyer's Representative and Certified Residential Specialist with Berkshire Hathaway HomeServices Georgia Properties. He has over nineteen years of Lake Lanier real estate experience. If you would like to schedule a free buyer or seller consultation, please feel free to contact us directly at www.LakeSidneyLanierHomes.com or 770-844-8484 or email us at Arthur.Prescott@BHHSGeorgia.com.

Berkshire Hathaway HomeServices Talking Real Estate Newsletter- February 2022

FEBRUARY 2022 Whether you own a home or looking to buy or sell one, here are the latest Good To Know articles for when you’re ready to take the next step in finding your Forever Home. Berkshire Hathaway HomeServices Georgia Properties Arthur Prescott REALTOR®, ABR, CRS Cell: 770-309-7531 Office: 770-844-8484 arthur.prescott@bhhsga.com www.LakeSidneyLanierHomes.com   HOMEBUYERS, HOMEOWNERS, HOME SELLERS, TRENDS Outlook for Housing 2022 Housing was one of the strongest sectors of the economy for 2021, but rising interest rates and inflation are causing many to wonder if sales will continue as strong in 2022. Lawrence Yun, chief economist for the National Association of REALTORS, believes the number of home sales will decline in 2022 but will still outpace pre-pandemic levels, based on continuing demand from homebuyers. More inventory is becoming available from home builders and from homeowners who will no longer receive loan forbearance and may decide to sell their homes instead.  Goldman Sachs economists predict that home prices will climb another 16%, reports Houwzer.com. Yet, Corelogic has lowered its forecast from 2.2% to 1.9%, according to Fortune.com. Fannie Mae is predicting that mortgage rates will rise to an average of 3.4% next year, while the Mortgage Bankers Association believes rates will rise to 4%. Fortune.com points out that the Federal Reserve predicted 1.8% inflation for 2021, but the real number is closer to 6.2% set in October – the highest rate since 1990. In real numbers, if a buyer puts 20% down on a $500,000 home, they will have a monthly payment of $1,682 at 2.98%. At 4%, the monthly payment would be $1,910. So, should you buy a home or wait it out? If economists can’t agree on their outlooks, you probably shouldn’t try to time the market either. Housing is a terrific hedge against inflation, so instead, ask yourself what you can afford and go from there.   TRANSACTION ADVICE, MARKETING, HOMEOWNERS, HOME SELLERS The Most Critical Period for New Listings Your home’s marketing begins when your Berkshire Hathaway HomeServices network professional submits your listing to the local multiple listing service, or MLS. Brokers share their listings with other brokers in the MLS, making it the best chance of selling your home quickly and for the most money. During the critical first two weeks of marketing, your listing agent will schedule your home on the MLS tour for other agents to see as well as contact their network to let them know your house is coming on the market. The MLS distributes data about your home on the MLS website, your broker’s website, other broker websites, and third-party sites such as Realtor.com. Other data such as mapping, satellite image, neighborhood information, tax roll data, and school information is added to your listing so that buyers can get the full picture of what it’s like to live in your home.  Your listing agent may also advertise your home in newspapers, online home magazines, and in their broker’s marketing tools such as e-magazines, newsletters, and email alerts to prospective buyers. And they’ll put a for-sale sign in your yard. Every potential buyer will know your home is for sale. When your home is new to the market, that’s the most exciting time to buyers. If you get few showings or offers, you need to know immediately. Feedback from other agents and buyers will tell you what you need to do to make your home more appealing. MORTGAGE ADVICE, CREDIT REPORTS, HOMEBUYERS, FINANCE How Inquiries Impact Your Credit Mortgage lenders depend on the information found in credit reports and credit scores. One of the numbers that cause fluctuations in a consumer’s credit scores is inquiries. Inquiries, according to Equifax.com, are “entries that appear on your credit report when your credit information is accessed by a legally authorized person or organization (including yourself).” Inquiries can include “an application for credit, goods or services; an account review made by a company that you already do business with; or a preapproved offer of credit.” Inquiries can be either hard or soft. Soft inquiries such as account reviews, preapproved credit applications, and employer checks don’t impact credit scores. Consumers can check their own credit without impacting their credit scores. Hard inquiries, such as an application for a new loan, credit card or line of credit, can temporarily lower credit scores by as much as five points and remain on your record for up to two years.  but, if you handle the credit responsibly, with no late payments, your scores could go back up again in just a few months. If you’re just out of school and want to build your credit, only apply for credit cards and loans that you need. If you’re applying for a mortgage, every point counts, so follow your lender’s advice on what to do. Don’t open new lines of credit for six months to a year before applying. Apply to multiple lenders, so you can shop for the best terms and rates. LUXURY, SMART TECHNOLOGIES, HOMEOWNERS, HOMEBUYERS, LIFESTYLE Three Home Trends That Will Stay Around The way Americans use their homes has changed since the advent of the pandemic. Once many activities were significantly curtailed or eliminated, from going to the office or school, travel, gatherings, dining out, to theaters and other entertainment, homeowners spent more time at home. Here are some home design trends for 2022 that may stick around after the pandemic is over. Smart furniture – According to Puffy.com, the smart furniture industry is on track to reach $244 million by 2024. Televisions can double as artwork when turned off, couches, beds and chairs offer charging ports, but most exciting are coffee tables that come with refrigerator drawers, so you never have to leave the game to grab a cold one. Muted but colorful décor – Color palettes for 2022, such as those suggested by Benjamin Moore,  are calling for colors on the paler side, far from the deep jewel, spice and ocean shades of recent years. Three colors with less chroma and more tint are emerging as popular - blues because they’re calming, greens for versatility and bringing the outdoors inside, and yellows for cheerfulness and optimism, according to Homesandgardens.com. Vintage accents – In the chaotic environment of climate change, rising inflation, supply chain interruptions, and sky-high lumber prices, it’s natural to be nostalgic for simpler times. That sentiment is spurring designers and homeowners to seek out vintage furnishings and accessories. Housebeautiful.com explains that vintage pieces add individuality and personality to interior design with craftsmanship and materials that can’t be affordably duplicated today.  GA Lic #: 246526 325 Brannon Rd. Ste. 200 Cumming, GA 30041 ©2022 BHH Affiliates, LLC. Real Estate Brokerage Services are offered through the network member franchisees of BHH Affiliates, LLC. Most franchisees are independently owned and operated. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of Columbia Insurance Company, a Berkshire Hathaway affiliate. Information not verified or guaranteed. If your property is currently listed with a Broker, this is not intended as a solicitation. Equal Housing Opportunity.

Lake Sidney Lanier Homes is the most comprehensive online source for information on Lake Lanier homes for sale and Lake Lanier area real estate. View the latest Lake Lanier home listings, foreclosures, lots, land, sales trends, and real estate topics on Lake Lanier. Arthur Prescott is an Accredited Buyer's Representative and Certified Residential Specialist with Berkshire Hathaway HomeServices Georgia Properties. He has over nineteen years of Lake Lanier real estate experience. If you would like to schedule a free buyer or seller consultation, please feel free to contact us directly at www.LakeSidneyLanierHomes.com or 770-844-8484 or email us at Arthur.Prescott@BHHSGeorgia.com.