Ron King | Palmer House Properties & Associates | Atlanta, GA | 404-384-4929

First Time Homebuyers

FIRST-TIME STRUGGLES

Millennials, ages 18 to 34, face a less affordable housing market than their parents, forcing them to put off ownership.

The share of first-time homebuyers has fallen for the third consecutive year to its lowest level since 1987, according to a survey by the National Association of Realtors.

First-timers accounted for less than a third of sales that are expected to comfortably exceed 5 million this year. This group has traditionally represented 40 percent of sales.

The Realtors survey indicates that student loans and other debts have delayed down payment savings by a median of three years. A quarter of the first-time buyers identified saving for a down payment as their biggest challenge, with the majority of this group saying that education loans hurt their ability to set aside money.

This problem may only worsen as student debt burdens continue to expand.

College borrowers who graduated in 2014 finished on average with $28,950 in debt, a 31 percent increase over the past decade after adjusting for inflation, according to a report last week by The Institute for College Access and Success.

5K fun Run in Cumming

Join the 5K fun run in Cumming to help disadvantaged children

iRUN for BYOT is

coming up on September 26!

 

Click here to Register!

 

5K & Fun Run – Certified for the Peachtree Road Race – Chip Timed – Out & Back Course from Piney Grove School

in Cumming

Help us support the deserving students of Forsyth County while we

work to put internet in homes that don’t have it and put devices

in the hands of those without them.

 

 

 

 

June Atlanta Case Shiller Report

Change in Case-Shiller Atlanta, GA Home Price Index is at 5.36%, compared to 5.61% last month and 15.73% last year. This is higher than the long term average of 2.54%.

The June 2015 Case-Shiller Report is now available on the PHP Agent Resource Center for you, and also available at this link: http://bit.ly/1GIlfyz

To access the April Case-Shiller Report on the Agent Resource Center, click on the link below and log in to the Agent Resource Web Page. (username: phpdocs). Scroll down to “MARKETING CASE-SHILLER REPORTS.”

June 2015 Case-Shiller Report

Housing Trends

Home builder confidence in the market for newly built, single-family homes is at its strongest level in a year, according to the latest Housing Market Index (HMI) released by the National Association of Home Builders (NAHB) and Wells Fargo.

Searching For Homes

It is a know fact that very large numbers of potential home buyers start their search on the internet. Some estimates are as high as 80% begin looking on the internet before engaging a Realtor®. Zillow has become a very popular site for consumers to start their searches but most consumers are not aware that many of the homes listed as for sale on Zillow® are already sold. The cause of this is how frequently the data base is updated.

The site you are on currently is a live feed from the MLS systems via IDX and is far more accurate than Zillow®. See homes for sale here.

Atlanta Market Continues to Improve

Atlanta Market Continues to Improve according to the Georgia Association of Realtors:

Housing indicators for March are in:

  • Pending Sales were up 26 percent to 11,015.
  • Average Sales Price was up 10 percent to $215,153.
  • Inventory levels shrank 5 percent to 40,334 units….
  • The Median Sales Price increased 12 percent to $172,000.
  • Days on Market decreased 2% to 80.
  • Months Supply of Inventory was down 17 percent to 4.9 months.
  • New Listings increased 3 percent to 14,580.

Picking Your Homes Colors

It’s no secret that color is crucial when marketing a product. In fact, consumers come to a subconscious conclusion about a product within 90 seconds of viewing, and much of that judgment (62-90 percent) is based solely on color, according to the Institute for Color Research. Retailers apply these findings every day (think red sale signs) to encourage consumers to purchase their products. Can the same be said in real estate?

Consider this: If color influences product marketing strategies, the color of a home can be a decisive factor when selling.

“Your home’s exterior color is literally the first thing a buyer will see and comment on,” says Suzanne Otto, home stager and owner of Six Twenty Designs in Montgomery County, Pa. When preparing a home for the market, Otto recommends shades within the white, tan or gray color families. These colors resonate beyond pure aesthetics – according to e-commerce giant eBay, white indicates safety. For a homebuyer, a home with a white exterior can translate to concepts like “shelter” or “safe haven.”