Posts with tag '55 and Older'

Mortgage Rates – A Historical Perspective

If you ask anyone involved in real estate how the market is, you are likely to hear something regarding mortgage rates and how they have recently risen, instead of falling. This is certainly part of the reason the 2026 real estate market has been sluggish. At the time that I am writing this article, mortgage rates are averaging around 6.5%. Compared to the time of covid (March 2020) and the time shortly after, this is a high rate. With a little perspective we can see that 6.5% is much closer to average, even a little lower, historically.

Mortgage rates peaked near 20% in the early 1980's. Several local Realtors have told me how difficult it was to both purchase and sell real estate during this era. Many agents sold land and timber just to get by. The r...

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I Am Under Contract, Now What?

After working with your lender on getting pre-qualified and spending months, or maybe longer, searching for a home you finally find the right home, and you are under contract. Woo-hoo! Time to relax and celebrate, right? As many Realtors say, the real work begins when you are under contract.

Arguably, the most important part of being under contract as a buyer, is a home inspection. It is essential to hire a knowledgeable, professional and honest home inspector. Coweta County has many good local home inspectors. Rely on your real estate agent for recommendations but also do your own research. Online reviews and testimonials, education background, accreditations, and experience are all important factors when selecting a home inspector. It is not a bad idea to call prospective inspectors to ask questions, discuss pricing and ask what services they provide. Most home inspectors can provide radon and air qu...

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What can we expect for real estate in 2026? Most economists and real estate experts are calling for a positive 2026. The National Association of Realtors (NAR) recently reported pending home sales were up 3.3% from October to November of 2025. NAR also reported that pending home sales were up 2.6% from a year ago. This positive sign and the widely expected lowering of mortgage rates as well as increasing listing inventory point to a promising 2026 for real estate. From NAR Chief Economist Lawrence Yun; "Lower mortgage rates and larger inventory will attract buyers back to the market in 2026."

Realtor.com reported that mortgage rates are forecasted to average 6.3% in 2026. This will assist in affordability for buyers, but many people are hoping for a more significant decrease. Widely criticized for not lowering interest rates more, Federal Reserve Chairman Jerome Powell's term ends on May 15^th, 2026. Most economists and lenders view a new chairman as a positive for...

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Is It a Buyer's Market?

Yes, well sort of. Compared to the scorching sellers' market of the last several years, it is a good time to purchase real estate. Buyers have a chance to negotiate. Sellers are conceding on price as well as providing credits and incentives to buyers. Houses are staying on the market about a week longer than last year according to the Georgia Multiple Listing Service (GAMLS).  Despite all of this, sales prices have slightly increased, between three and six percent, year-over-year. New listings have been down six percent for three straight months. Closings and pending sales have been mostly down in 2025, except for a significant increase in the summer months.

The real estate market is moving towards the buyer's side but not there yet. Mortgage rates may be part of that reason. On the day, I am writing this the rates sit around 6.26% (FreddieMac). Whether it is realistic or not, many potential buyers are sitting on the s...

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A Strong Summer for Real Estate

After a slow start in 2025, the local real estate market really picked up this summer. Many local real estate agents were discouraged after the start of 2025. Spring is typically the strongest time for a real estate market. However, the first half of 2025 was weak, with closed sales down every month, year-over-year, from 2024 (per Georgia Multiple Listing Service, GAMLS). Things started to pick up in May. Pending sales were up over 20% from last year. As a result, closed sales increased 26% and 11% in June and July, respectively. This is an encouraging sign of things to come. August is looking like it will be a strong month as well, with many contracts in the pipeline to close.

Compared to the last few years, it is actually a good time to purchase and many savvy buyers have noticed this. The selection of homes to buy is significantly up. In fact, new listings have increased every month, year-over-year...

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