Summer View: Our Sights Are Set on Success

Summer Home-Buying is Heating Up

After the COVID-19 pandemic started to negatively affect the economy, we have to admit that the team here at Karen Cannon, Realtors got a little worried. We were very concerned about how the economy’s decline would affect the housing market, especially the housing market in the Sandy Springs and Dunwoody areas. Well, we are pleased and blessed to report that while we did see a slight dip in April, May started to pick back up and by June, we saw numbers that rivaled those of the previous year. In fact, our anticipated sales volume for July is already 42% higher than July of last year.

In addition to that, homes are selling quicker now than any other time in the past two years, according to a new analysis provided by Zillow. While we understand that the economy hasn’t fully recovered, we couldn’t feel more optimistic about the gradual recovery that we have seen in the housing market in our area. We are feeling very positive about how the industry is starting the summer buying season and we also can’t wait to be busy this summer as we anticipate that it’s going to be a big one!

Bouncing Back
It’s probably not a big surprise that there was a dip in the housing marketing at the start of the pandemic, but what’s also interesting is the market’s resilience, and home values are one of the most notable examples of that resilience. Data received from the National Association of Realtors® (NAR), indicates that while sales numbers dipped in April, home prices have actually increased.

Not only have home values continued to increase but they have actually risen 4.3 percent year-over-year according to a report from Zillow. In that report, we also see that “the housing market has shown resilience during the coronavirus pandemic, slowing as stay-at-home orders were given across the country, but not screeching to a halt.”

At the start of the pandemic, the housing market saw both sellers and buyers shy away from buying and/or selling their homes. While that does seem like there was less housing demand at various times, there was also less supply. This resulted in a rising home value trajectory due to the supply and demand balance.

The stability of the marketing isn’t only seen in reference to home prices. Among other things, sales are bouncing back. With the trends that we are currently seeing, potential buyers must act quickly. While sellers have been delayed in making progress, they should keep in mind that buyers are wanting to press forward quickly and list their homes as quickly as possible. “Buyers shopping today might expect to be welcomed by desperate sellers, but they’ll instead discover houses selling like hotcakes in the speediest market in recent memory,” said Zillow Economist Jeff Tucker.

We Aren’t There Yet
As we all know, everything hasn’t quite returned to normal, even though there are signs of stabilization in the housing market. For now, though, the improving trajectory of many housing market metrics is something to keep at the top of mind. As we start the summer selling season, many things may still be uncertain but we are definitely moving in the right direction. In fact, as we see it now, our road to recovery looks incredibly bright. We have seen many of our sellers experience some competition starting to happen and even a few bidding wars.

We have a long road to economic stabilization and recovery but the future of the housing market is bright!

Looking Past COVID-19: Ramping Up for What’s Next

At Karen Cannon, Realtors, we understand the challenges that are presented by the COVID-19 pandemic. No one could have known that this virus would bring the world to a screeching halt, and we could not have known that 2020 would see a great stock market, good job reports, and growth all stop in a few short months. Even so, we are dedicated to making our clients’ home buying and selling needs our top priority as well as making the process as safe as possible.

There are a few tips here that explain what the road back should look like, and you can even begin to look for new properties, sell with confidence, and work remotely with a Realtor® right now. As the top-rated Dunwoody agents, our team has the expertise to assist our buyers and sellers with everything related to Dunwoody and Sandy Springs real estate including other surrounding locations in North Atlanta.

How Has the Housing Market Changed?

Luckily for the team here at Karen Cannon, Realtors, our hard work and expertise allowed us to remain consistent during the first month of COVID-19 and actually see similar numbers to the same time last year. April and May were also great months for us as everyone kept busy, but we knew that we needed to do something to accommodate all our clients who wanted to buy and sell homes.

We also know that June, July, and August can be busy months in our industry. Some of our clients may be nervous as they look for Dunwoody and Sandy Springs homes, or simply want to search all of North Atlanta. This is why our top-rated Dunwoody agents will offer more than ever to help our clients.

How Have We Improved Virtual Services?

We have expanded our virtual offerings to make sure that every client feels as safe and as comfortable as possible throughout the home buying and selling process. Our team uses specialized tools, technology, and practices to help keep our clients and team members safe during COVID-19.

First, we are always available to meet with each of our clients virtually. Whether it be on Facetime or Zoom, our clients’ comfort and safety will always be our first priority. Next, we offer expanded digital offerings for our listings. Strengthening the digital presence of listed homes through photography, video home tours, 3D virtual tours, aerial photography, floorplans, and virtual staging allows more people to view their dream home from the comfort of their current one.

Interest Rates Are Dropping

Interest rates have been dropping and that makes it even easier to work with one of our professional Realtors®. We can show you how to choose the most appropriate home and help you find financing. We have established relationships with many local and trusted providers and would be more than happy to connect you with the financing provider that best fits your needs. When you work with us, we help you through the entire process, making it as stress-free and seamless as possible.

People Are Already Shopping for Homes

At Karen Cannon, Realtors, we know that many people have already been shopping for their next home. Many have been using this time at home to start looking for something that will help them move to the next phase of their life. We understand and are ready to help our clients make the best choice for them.

Are Sandy Springs & Dunwoody Homes Selling?

Dunwoody and Sandy Springs are affluent areas in Northern Atlanta that attract those craving a traditional suburban lifestyle but with close proximity to corporate businesses and commerce. This area is filled with older homes that have the charm you are looking for, planned developments that you will love, and even new construction.

While we may have seen a slight decrease in activity at the initiation of COVID-19, the months of April and May were consistently busy. Now that June has started with the same level of demand, we anticipate that to continue along the same trend.

Reach Out to Karen Cannon, Realtors Today

The housing market is rebounding and we have been extremely active during the pandemic. We are an “essential business” that has been safely operating as people look to sell their homes. We also help first-time home-buyers and people relocating to Sandy Springs and Dunwoody. We ensure that each home closes successfully and we will be with you long after you close on your home. Explore Dunwoody homes for sale and Sandy Springs home for sale today!

Spring Into A Landscaping Refresh

It’s now late spring, but there is plenty that can be planted around your home to bring color and joy. A change in landscaping can be a simple as perennial hanging baskets or as arduous as a sculpted, water-saving gardener’s paradise. Before you set foot for the local nursery, take note of the areas that you want to spruce up.

Direct Sunlight

The amount of light that a plant requires versus the amount of light it gets can be a single determining factor in its success. While you are home, watch how the light hits areas you plan to plant. When does it get full sun, or partial or full shade. That will make plant selection easier and more successful.

Soil

All plants require a certain type of soil. Soil content can be adjusted with compost or organic matter. According to Southern Living, “when you place the wrong plant in the wrong kind of soil, you’ll get mixed results. Worst-case scenario, the plant dies. Best case, it survives, but with lackluster results. Each soil type accommodates a different palette of plants.” Inventory the soil you have, so you know what you may need to supplement.

Wildlife

North Atlantans have plenty of garden leveling critters. Rabbits or deer or burrowing chipmunks can level produce and shrubs overnight. Depending on the type of landscaping that you are planning, consider a physical barrier. That will not always work, say in a front yard, so research which plants are not palatable to the local wildlife.

Color Echo

For those of us who lack a green thumb, consider using color echo as you bring bright hues. Color echo is planting clumps of the same color throughout the planting area. Consider similar flower colors and leaf colors but also bloom times, textures and heights. As you select plants, consider leaf and flower color, and how it will blend or clash with existing landscape and hardscaping. Southern Living also suggests, “Add in contrasting leaf and plant textures to stir some drama in the landscape.”

Record Low Mortgage Rates for Buyers

Low mortgage rates help propel U.S. home sales and the refinance market. Mortgage rates in the United States have fallen to the lowest level ever on the heels of concerns stemming from the coronavirus outbreak.

As mortgage rates remain near three-year lows, those who are considering refinancing shouldn’t wait on the sidelines. Many lenders have hit their capacity in terms of how many loans they can process. Banks are currently inundated with small business loans.  This is a response to COVID-19 and the government stimulus, but are still processing mortgage loans. 

Rise in Mortgage Applications

Mortgage application data has shown that a growing number of Americans have been applying for loans to finance the purchase of a new home. Most consider this a positive sign for the spring home-buying season. 

Low Inventory

“In order to take advantage of low mortgage rates, buyers will need homes to buy,” said Danielle Hale, chief economist at Realtor.com. According to Market Watch, the inventory of homes for sale has an hit all-time low amid the high demand from buyers. The low inventory is largely the result of depressed home construction activity in the wake of the 2018 recession, which did not keep pace with household formation across the country. Many single-family homes were also purchased by investors during the bust years and converted into rentals, further constricting supply.

Economic Health

Another factor that could prevent Americans from taking advantage of low rates is the overall health of the economy. Many buyers might get cold feet despite the potential savings they would be leaving on the table, Hamrick said.

“There’s no avoiding the fact that a home purchase is the most significant purchase individuals will make in their lifetimes” Hamrick said. Whether you are looking to downsize your home or take advantage of low interest rates, contact Karen Cannon, Realtors to walk you through the process. We can advise you based on the current climate and demand. 

Get started today by exploring Dunwoody homes for sale, Sandy Springs homes for sale, and Chamblee homes for sale!

Sources: bizjournal.com; marketwatch.com

Easy Energy Efficiency for Your Home

April 22, 2020 will mark the 50th anniversary of Earth Day. Across the globe, countries are committing to climate protection. Similarly, many steps can be taken on a local level to reduce one’s carbon footprint. There are plenty of weekend projects that can be done with immediate ease or over the weekend. These projects can improve a home’s energy efficiency, reducing the carbon footprint and saving money. 

Low Hanging Fruit

Start by replacing incandescent bulbs with compact fluorescent (CFL) bulbs. ENERGY STAR estimates CFL’s use 70-90% less energy and can save you $30-80 in energy bills over the bulb’s lifetime.

Touch your hot water heater. Is it warm to the touch? If the answers are yes you should add an insulating blanket to prevent heat loss. Just like insulating your walls or roof, insulating your hot water tank is an easy and inexpensive way to improve energy efficiency and save you money each month. A new tank is likely already insulated. An older hot water tank, check to see if it has insulation with an R-value of at least 24. If not, consider insulating your water tank, which could reduce standby heat losses by 25%–45% and save you about 7%–16% in water heating costs—and should pay for itself in about a year. You can find pre-cut jackets or blankets available from around $20. Some utility companies may even offer rebates for insulating the heater and don’t forget to add foam sleeves or insulating tape around hot water lines while you’re down there. 

Most homes come standard with a programmable thermostat, but if not, a quick replacement will ensure you aren’t heating or cooling a house no one is in. Installing a programmable thermostat allows you to automatically adjust temperatures to minimize the amount of heating and cooling you need. Many products now allow you to control them remotely from your smartphone as well.

For the Weekend

Pay attention to your outlets as each outlet in your home allows a little treated air to escape into the walls. “For just 10 cents apiece you can put precut foam gaskets behind each outlet to stop leaks. Simply fit the gasket over the opening and replace the cover. For outlets along exterior walls (especially ones you don’t use often) consider adding a child-safety plug to completely block air exchange”

Consider installing exterior storm windows with Low-E coating. This installation is one of the most cost-effective solutions. They’re easy to install and cost a fraction of replacement windows. Low-E windows are coated with an ultra-thin, virtually invisible layer of metal that ‘reflect infrared heat back into the home. Therefore, this coating improves the window’s insulation ability, in turn lowering your heating and cooling costs. On average, low-e storm windows can save you 12%–33% in heating and cooling costs. This equates to $120–$330 in annual savings, assuming a $1,000 annual heating/cooling bill.’   

Finally, in addition to replacing your lighting with CFL or LED bulbs, consider adding a programmable lighting system. Many programs can monitor energy use of outlets and switches and consumption is view-able via an app.  In addition to saving money on utility bills, some insurance providers offer incentives for installing smart home devices. 

In conclusion, as technology continues to evolve, opportunities present themselves to improve on the efficiency of your home. This will save money with lower energy use, but can also increase the value of your home. If you have questions on the types of adjusts and upgrades that can add value, contact Karen Cannon Realtors for suggestions. 

energy.gov – cited source

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