Posts in category 'Bloomberg News'

Growing up in Newnan if it was your time to take the midnight train to glory, not Georgia (sorry Glady's and pass my apology along to the Pip's, won't you) your choice was clear. Hillcrest or Mckoon's funeral home. Both establishments were known for their high quality of service and were housed in some of the most iconic homes the region had to offer. In fact, some would say, at night if the moon was full, you could see on their porches Rhett, Scarlett, and even Miss Daisy if Hoke had not picked her up yet for a drive, rocking in their chairs, drinking sweet tea, and talking about the recent unpleasantries.

Well, at 13 years of age, for a summer job, I was hired on at Hillcrest to do a little of this, that, and the other. During that summer I also played on a little league baseball team sponsored by Lindsey Realty. I played catcher because I was short, chubby, and not the quickest of humans. All you have to do as a catcher, my coach said, was stop the pitch with your open gl...

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There is a growing concern in the real estate community regarding rising interest rates, which mortgage rates typically follow. Many potential buyers have been waiting for the real estate market to cool and prices to lower before they purchase a home. That does not seem to be happening anytime soon. As interest rates rise, many buyers will not be able to afford purchasing a home and will be priced out of the current market. Increased inflation is a driving force for the interest rates to be raised by the Federal Reserve. According to Bloomberg, in January of 2021, the year over year inflation rate for the United States was 7%. As of January 26^th, 2022, mortgage rates are pushing 4%. This may not seem like a high rate, but mortgage rates were as low as 2.68% just 13 months ago, according to Rocket Mortgage. The rates have steadily increased since December 2020.

This example, from Rocket Mortgage, of a one percent increase in a mortgage rate shows you the difference a percentage can make. This will prevent many "fringe buyers" from purchasing: By way of example, say that Taylor, a 30-year-old woman who is a first-time home buyer, wishes to obtain a 30-year fixed FHA loan on a new home with a 20% down payment. Below, you can get a sense of just how much she stands to save, given a 1% difference in interest savings on her 30-year mortgage.

On January 26^th, 2022, the Federal Reserve, the central bank of the United States, strongly hinted at raising the interest rates. The Reserve said with inflation rates well above two percent, it could start raising interest rates as early as March of this year. Many experts believe this is the first of several rate increases this year. This will cause mortgage rates to rise. With increasing home value and prices, as well as rising mortgage rates, purchasing a home will become more difficult.

Now is a good time to buy before the rates and prices rise any higher. We are also seeing a large increase in the supply of listings here in Coweta County. We are at the very start of our listing season. It is a good time to start looking at property if you are not already.

The local real estate market in Coweta County has a lot to be thankful for this year. We may not think about it, but one of the most obvious reasons is our close proximity to the busiest airport in the world and the city of Atlanta. Another reason is that the fact that interstate 85 runs through the middle of our county. Coweta has attracted many types of industry and businesses through the years but big names like Amazon and Goodyear are here now. The Coweta County Development Authority does a nice job of bringing in prospective businesses to our area. Personally, I am seeing more and more employees from large companies like Chick-Fil-A , Coca-Cola and Delta purchase homes in Coweta as opposed to the northside of Atlanta. Having an affordable cost of living with attractive housing options helps us attract new people here. Having a good school system really helps as this is a very important facto...

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The History Of Lindsey's

Newnan native Lindsey Hand Barron founded Lindsey's, Inc. in 1948 when he purchased the Austin Appliance Company, holding the Westinghouse Appliance franchise in Newnan.  The R.E.A. was just coming into Coweta County, so many people had no electricity, appliances, well pumps or wiring.  The demand was great, and the supply of goods and electrical contractors was limited due to World War II.   Lindsey Barron's timing was good.

Starting with one truck and two electricians, the business quickly grew to include not only electrical, plumbing, heating and air-conditioning, but furniture and appliances as well as the Pepsi Cola franchise for 13 counties.

In 1958 Lindsey's Inc. moved from LaGrange Street to the building now occupied by the Newnan Times-Herald, and the real estate and insurance business began in the back of the furniture store...

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If you are a "baby boomer", it is a fine time to live in Coweta County. "Baby Boomers" are any person born between 1946 and 1964. This nickname was created after the uptick in the post-World War two birthrate. As of 2014, there were 76.4 million "baby boomers" according to the U.S. Census Bureau. The total U.S. Population is currently 325,398,017 (worldometers.info). This makes "Baby Boomers" about a fourth of the U.S. population. With that in mind, Coweta County has seen tremendous growth in living developments and neighborhoods for those 55 years and older.

The following are 55 years and older developments that have been rezoned for RRCC (Residential Retirement Community and Care):

• 2014 - Powell Sr Village was rezoned on Hollz Parkway (48.97 acres). It is now known as Wisteria Place and Phase IA has been developed with approximately 120 units by Beverly J Searles Foundation.  (Petition 005-14)
• 2014 - Trivue, Ltd was rezoned on Arbor Springs Parkw...

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