Cartersville Georgia Real Estate BlogRecently posted or modified blog posts in the category - Market Updatehttps://www.jennysmithandassociates.com/blog/Copyright JennySmithAndAssociates.com2024-01-19T14:09:24-07:00tag:jennysmithandassociates.com,2012-09-20:6119Unlock Winter's Best-Kept Real Estate Secrets with Our Expert Panel!
Unlock Winter's Best-Kept Real Estate Secrets with Our Expert Panel!
Join Jenny, Sean, Meagen, Jessica, and Karma as they uncover the top reasons to buy a house this winter! Dive into a candid chat where they discuss the latest market shifts: stabilized interest rates, eager sellers ready to negotiate, and the unique chance to see properties at their barest – meaning they'll only get better! This video is a must-watch for anyone eyeing a winter home purchase. Discover the hidden advantages of buying now and get ready to be amazed come spring!2024-01-19T14:06:25-07:002024-01-19T14:09:24-07:00Jenny Smithtag:jennysmithandassociates.com,2012-09-20:5845Recession vs. Housing Crisis: What's the Real Impact on Real Estate?
Recession vs. Housing Crisis: Navigating the Real Estate Market in Uncertain Times
<br />The word 'recession' often conjures up fears of financial ruin, but how does it differ from a housing crisis? In our latest video, Jenny and Meagen unpack the complexities of these two economic phenomena and their impact on the real estate market.
<br />What Sets Them Apart?<br />Firstly, it's crucial to understand that a housing crisis and a recession are not the same thing. A housing crisis typically affects specific industries and sectors, creating an oversupply of inventory. The 2008 housing crisis, for example, disproportionately affected the real estate and finance sectors, while other industries flourished. On the other hand, a recession is a broader economic downturn that affects the general population.
<br />The Homeowner's Perspective<br />One silver lining for homeowners is that recessions usually don't lead to widespread loss of homes, unlike during a housing crisis. People tend to stay put during economic downturns, perhaps due to job uncertainty or reduced spending power.
<br />Equity as a Safety Net<br />Another reason for optimism is the amount of equity many homeowners have accrued in their properties. Even if home prices were to drop by 20%, a significant number of homeowners would still be able to sell their homes at a profit, cushioning the blow of a potential recession.
<br />Understanding the differences between a recession and a housing crisis can help you make informed decisions about your real estate investments. Whether you're a homeowner, a potential buyer, or an investor, knowledge is your most valuable asset in navigating these uncertain economic waters.<br />Don't miss our full discussion on this topic2023-10-09T11:12:45-07:002023-10-09T12:09:03-07:00Jenny Smithtag:jennysmithandassociates.com,2012-09-20:5778Why 2019 is THE Real Estate Benchmark: Insights from Jenny Smith & Jessica Miller
Why 2019 is THE Real Estate Benchmark: Insights from Jenny Smith & Jessica Miller
The real estate market has seen its fair share of ups and downs, but one thing has become abundantly clear: the market isn't what it used to be. In a recent candid conversation, real estate experts Jenny Smith and Jessica Miller explored why 2019 has emerged as the crucial benchmark for evaluating today's market dynamics.
<br />Inventory Levels Have Dropped Significantly<br />Perhaps the most striking trend is the sharp decline in housing inventory, which is down 50% compared to the same period in 2019. While this may be unsettling for some, understanding the factors contributing to this can provide valuable insights for both buyers and sellers.
<br />The Unique Circumstances of 2020-2021<br />Why use 2019 as a benchmark? The years 2020 and 2021 were clouded by the global COVID-19 pandemic and historically low interest rates. These extraordinary circumstances created market anomalies that are unlikely to be repeated. Therefore, looking at 2019 offers a more stable reference point for understanding long-term trends.
<br />How Low Interest Rates are Keeping Homes off the Market<br />One of the primary reasons behind the dwindling inventory is the current mortgage environment. Approximately 80% of homeowners have managed to secure interest rates below 4.5%. This comforting financial cushion makes them reluctant to sell, thereby reducing the number of homes available on the market.
<br />People are Living Longer, and New Construction is Lagging<br />Another interesting factor contributing to low inventory is the aging population. Many homeowners are choosing to age in place, while a stagnant construction industry, still recovering from the 2008 crisis, fails to keep up with demand.
<br />A Seller's Paradise<br />For those contemplating selling their homes, this could be a golden opportunity. With fewer houses available and steady demand, home prices remain robust. Sellers are in an excellent position to negotiate better deals and potentially secure top dollar for their property.
<br />What Buyers Should Consider<br />For prospective homebuyers, this market may seem daunting, but it's not all doom and gloom. With investor activities waning, there's more room for negotiation. Additionally, rising interest rates in the future are likely to mobilize more buyers, so taking the plunge now could prove advantageous.
<br />Final Thoughts<br />The real estate market is ever-changing, influenced by a myriad of factors ranging from economic indicators to human behavior. However, armed with knowledge and the right guidance, navigating this labyrinth becomes far less intimidating. Tune in to our discussion to garner more insights and actionable advice for your real estate journey.
<br />Don't forget to check out the video discussion between Jenny Smith and Jessica Miller for a more detailed understanding of why 2019 is the go-to benchmark for today’s real estate market.2023-09-12T04:12:43-07:002023-09-12T04:27:28-07:00Jenny Smithtag:jennysmithandassociates.com,2012-09-20:5646Exploring the Housing Market: Jenny's Insight on Crisis vs. Recession!
Exploring the Housing Market: Jenny's Insight on Crisis vs. Recession!
Jenny is exploring the difference between another housing crisis and a recession. What are your thoughts on the housing crisis vs where we are currently in the economy?
2023-07-28T11:52:17-07:002023-07-28T12:08:28-07:00Jenny Smithtag:jennysmithandassociates.com,2012-09-20:5001Filing for Homestead Exemption<img src="https://assets.site-static.com/userfiles/746/image/Newsletter_Graphics_10.jpg" width="1280" height="720" />
What is homestead exemption, do I qualify, and how do I apply?
What is homestead exemption?
Homestead exemption is a legal provision that allows a homeowner to protect the value of their primary residence from creditors and property taxes. The purpose of homestead exemption is to provide homeowners with financial protection and stability by allowing them to retain ownership of their home, even if they encounter financial difficulties or incur debts.
How do I apply for homestead exemption?
File the application with your county's tax commissioner's office or tax assessor's office by April 1st to be applied for the current tax year.
Cherokee County: Apply In Person at the Tax Assessors Office
<a href="https://www.cherokeega.com/tax-assessors-office/homestead-exemptions/">https://www.cherokeega.com/tax-assessors-office/homestead-exemptions/</a>
Gordon County: Can be filed in either the Tax Commissioner’s Office or the Tax Assessors Office
<a href="https://gordonassessors.com/exemptions/#:~:text=%C2%A7%2048-5-40),be%20denied%20a%20homestead%20exemption.">GORDON COUNTY BOARD OF ASSESSORS</a>
<br />Floyd County: The application can be filed with the Floyd County Assessor's Office.
<a href="https://www.qpublic.net/ga/floyd/exempt.html" class="notion-link-token notion-enable-hover" target="_blank" rel="noopener noreferrer" data-token-index="0" data-reactroot="">https://www.qpublic.net/ga/floyd/exempt.html</a>
<br />Bartow County: The application can be filed with the Tax Commissioner’s Office
<a href="https://www.bartowcountyga.gov/departments/tax_commissioner/homestead_exemption.php" class="notion-link-token notion-enable-hover" target="_blank" rel="noopener noreferrer" data-token-index="0" data-reactroot="">https://www.bartowcountyga.gov/departments/tax_commissioner/homestead_exemption.php</a>
Have questions? That's what I'm here for! Send me a text or email and let's chat!
Email: <a href="mailto:jenny@jennysmithandassociates.com" data-uw-rm-brl="exc" aria-label="send an email to jenny@jennysmithandassociates.com" uw-rm-vague-link-id="mailto:jenny@jennysmithandassociates.com$send an email to jenny@jennysmithandassociates.com" data-uw-rm-vglnk="">jenny@jsateam.com</a>
Tel.: (678) 431-0731
2023-01-13T11:19:46-07:002023-01-17T07:42:54-07:00Jenny Smithtag:jennysmithandassociates.com,2012-09-20:4953My Crazy Predictions for 2023<img src="https://assets.site-static.com/userfiles/746/image/Newsletter_Graphics_42.png" width="1280" height="720" />
My Crazy Predictions for 2023
For all you real estate veterans out there, you know it can be tough to predict what's going to happen in the market, and in no way am I claiming to have a crystal ball. But from my research and what I'm seeing happening currently in the market here are a few of my crazy predictions for the 2023 real estate market:
1. There is no housing bubble…thank goodness!!<br />2. Mortgage rates will drop.<br />3. Don't expect inventory to grow significantly.<br />4. No buyer's market but more of a balanced one.<br />5. Sellers will have to be more realistic.<br />6. New construction is likely to continue increasing as builders try to keep up with the demand for single-family homes.<br />7. Affordability will continue to be a major issue as prices rise due to lack of inventory causing bidding wars on properties that do come available.
<br />As I said above these are just some of the predictions that I am making based on the current market and some of the research that I have done. In your opinion did I miss anything?
2023-01-03T08:30:32-07:002023-01-03T12:56:24-07:00Jenny Smithtag:jennysmithandassociates.com,2012-09-20:4809How are interest rates affecting the market?
How are interest rates affecting the market?
This morning we were at a new listing and thought we would give you a little market insight. But I do have to say at the end the entire team started laughing at me... I need to know are you familiar with this saying...
2022-11-21T10:14:03-07:002022-11-21T10:19:11-07:00Jenny Smithtag:jennysmithandassociates.com,2012-09-20:4643Jenny Smith and Associates wants to give buyers an update about the shift in the real estate market
Jenny Smith and Associates wants to give buyers an update about the shift in the real estate market
Jenny is sharing how the current market has changed for properties in Cartersville and how buyers have leverage.2022-10-03T09:30:00-07:002022-10-03T12:32:01-07:00Jenny Smithtag:jennysmithandassociates.com,2012-09-20:4598Jenny wants to know if home buyer, home seller, or home maintenance tips are more relevant for you
Jenny wants to know if home buyer, home seller, or home maintenance tips are more relevant for you
We want to hear from you! It is important to us that we’re giving you advice, information, and tips that benefit you. So, comment or message to let us know what you’d like to see more of.
Be sure to comment and tell us know if you own a small business! We would love to be able to connect and refer business to you!2022-09-14T22:24:00-07:002022-09-16T09:31:12-07:00Jenny Smithtag:jennysmithandassociates.com,2012-09-20:4485MARKET UPDATE: Are we headed for a crash?
Market Update: Are We Headed for a Crash?
Ready for your mid-August market update? Let's talk cooling and crashing and after you watch the video let me know if you think we are in a cooling phase or a crashing phase?
2022-08-19T00:01:00-07:002022-08-19T12:04:28-07:00Jenny Smithtag:jennysmithandassociates.com,2012-09-20:4423Jenny Smith and Associates' Top 10 Restaurants<img src="https://assets.site-static.com/userfiles/746/image/214.png" width="1280" height="720" />
Jenny Smith and Associates' Top 10 Restaurants
When it comes to restaurants, the list never seems to end. That's why we figured we'd compile a list of 10 restaurants around Northwest Georgia that we think that deserves your attention!
Comment your go to's, we would love to try them out!
Download your free <a href="https://assets.site-static.com/userfiles/746/file/Top_10_Restaurant.pdf">top 10 restaurant recommendation here.</a>
2022-08-09T08:14:00-07:002022-08-11T06:26:40-07:00Jenny Smithtag:jennysmithandassociates.com,2012-09-20:4338Jenny Smith and Associates New Listings!
Jenny Smith and Associates New Listings!
We have lots of new listings this weekend and some waiting on you to fall in love with them! Call me and we'll set up some appointments to get in them.<br /><br />2022-07-08T08:09:00-07:002022-07-08T08:12:30-07:00Jenny Smithtag:jennysmithandassociates.com,2012-09-20:4321The Interest Rate On Rent Is 100%!
The Interest Rate On Rent Is 100%!
Do you want to pay your landlord's mortgage? Or do you want to build equity for yourself?
<br />If you want to learn more about appreciating home values and building equity, give me a call!!2022-07-05T10:29:00-07:002022-07-05T10:31:56-07:00Jenny Smithtag:jennysmithandassociates.com,2012-09-20:4261Jenny, are you looking to hire new agents for your team?
Jenny, are you looking to hire new agents for your team?
"Jenny, are you looking to hire new agents for your team?”<br />Absolutely! We’re always looking for new talent. We have systems in place ready for you to hit the ground running! If you’re interested, reach out to me and we’ll grab coffee2022-06-24T00:07:00-07:002022-06-24T12:08:59-07:00Jenny Smithtag:jennysmithandassociates.com,2012-09-20:4251Word of the year: 'AFFORDABILITY'<img src="https://assets.site-static.com/userfiles/746/image/21.jpg" width="1280" height="720" />
Word of the year: "AFFORDABILITY"
The new real estate buzz word will be "affordability". We are going to start hearing this word everywhere.
325k loan at 3.75%/30 yrs = $1,505 monthly
325k loan at 6.25%/30 years = $2,001 monthly
What feels like overnight, the house you have had your eye on would now cost $5,952 more per year.
<img src="https://assets.site-static.com/userfiles/746/image/31.jpg" width="1280" height="720" />
But what if you need your payment to stay the same? You went from a $325k house to a $244,00 house.
This changes the buying environment and the housing market dramatically. Affordability is the new buzz word in housing.
<img src="https://assets.site-static.com/userfiles/746/image/45.jpg" width="1280" height="720" />
How do you think this changes the housing market until the end of the year?2022-06-19T07:11:00-07:002022-06-20T08:10:32-07:00Jenny Smithtag:jennysmithandassociates.com,2012-09-20:4246I’ve got a secret! You may have equity in your home if you have PMI!
I’ve got a secret! You may have equity in your home if you have PMI!
I’ve got a secret! You may have equity in your home if you have PMI! I would love to talk with you more about it. Give me a call!2022-06-16T00:03:00-07:002022-06-16T12:07:32-07:00Jenny Smithtag:jennysmithandassociates.com,2012-09-20:4224How To Find a Deal in Today's Market
How To Find a Deal in Today's Market
Finding a deal in today's market can feel overwhelming. And it can be easy to get in the mindset of "I gotta get the best deal I can." If you're wondering how you can find a deal in this market, watch this video and I'll give you my tips for finding your next perfect home and making sure you're getting the best deal.
2022-06-02T06:55:00-07:002022-06-02T07:11:59-07:00Jenny Smithtag:jennysmithandassociates.com,2012-09-20:4179Buying vs Renting: Let's take a look at some pros and cons<img src="https://assets.site-static.com/userfiles/746/image/Buying_vs_Renting.jpg" width="1280" height="720" />
To buy or to rent... that is the question.⁠<br />⁣⁠<br />While everyone's situation is different, there are some pros and cons to both renting and buying that apply to most scenarios.
"Landlords grow rich in their sleep without working, risking or economizing." - John Stuart Mill
"The bottom line: Investing in real estate is smart because property is tangible. People always have and always will need a shelter." -Kathy Fettke, Investor
RENTING PROS
- Landlord pays for maintenance
- Flexibility to move around
- No closing costs
- No housing expenses
RENTING CONS
- You don't build equity
- Limited customization to home
- Rent increases overtime
- Landlord might sell
BUYING PROS
- You build equity over time
- Home value may increase
- Tax benefits
- Complete freedom to customize
BUYING CONS
- Closing costs
- Maintenance responsibilities
- Less flexibility to move around
- Home value may decrease
Reach out to us know more!2022-05-17T05:59:00-07:002022-05-17T06:15:36-07:00Jenny Smithtag:jennysmithandassociates.com,2012-09-20:4178Is there a shift in the housing market?<img src="https://assets.site-static.com/userfiles/746/image/shift.jpg" width="1280" height="720" />
Is there a shift in the housing market?
We are all seeing headlines about the housing market crashing, the big bubble we're in, the sky is falling…..you name it, I’m sure we’ve seen it.
Here are our thoughts on this:
1) Media sources get paid for titles that sell and gain readers. Everything is always elevated.
2) Is the Market Shifting?<br />Yes, there is a subtle shift happening right now.<br />Why? Interest rates and buyer affordability.
Last year, interest rates were in the 2%’s.<br />Today, the average 30-year fixed is 5.45%.
Simply put, when interest rates go up buyers can’t afford to buy as high.
What we do know:<br />✅Pending sales are still outpacing new listings and buyer demand is still high.<br />✅Pending sales are still over 100%, meaning almost all homes are selling at/or above the listing price.
May and June are always prime listing months for our local housing market so historically speaking we always see an uptick in new inventory during these months.
⭐️What is important to consider?⭐️
⭐️For Buyers – there is an incredible opportunity now and likely next month to get into a home. Your competition is likely to be less than months/year prior! Interest rates are not permanent - you can always refinance if interest rates go down next year.
⭐️For Sellers – If you are thinking about selling at all, reach out to us to get that conversation going. Inventory is still incredibly low and you want to sell before interest rates get even higher…
Ready to get started? Reach out to us to start that conversation!2022-05-17T05:24:00-07:002022-05-17T05:47:36-07:00Jenny Smithtag:jennysmithandassociates.com,2012-09-20:4151Just Listed in Dallas, GA at 227 Scotland Drive by Jenny Smith and Associates
Just Listed in Dallas, GA at 227 Scotland Drive by Jenny Smith and Associates
Welcome to this well appointed two-story home located in the highly desired subdivision, Highlands North! This six bedroom, three and a half bath home has so much to offer with space galore. On the main, you'll notice a family room, dining room, living room space, and open concept kitchen that is perfect for hosting. Kitchen includes granite countertops and stainless steel appliances with plenty of space for all your needs. Upstairs you'll find four bedrooms and two full bathrooms, including an oversized owner's suite. The finished basement includes two bedrooms, one full bath, kitchen, and laundry room that is not reflected in public records square footage. Perfect for an in-law or teen suite with a private exterior entrance! Move in ready, so start packing. FMLS # 70396032022-05-05T11:09:00-07:002022-05-05T11:18:37-07:00Jenny Smithtag:jennysmithandassociates.com,2012-09-20:4070What is happening In Cartersville this month in housing? Are houses still appreciating?
What is happening In Cartersville this month in housing? Are houses still appreciating?
March numbers are in~ If you listen to the video I talk about home appreciation over the last year, being 10% or higher. <br />Different price points have been appreciating at different rates. But 10% is a good starting point, and on the high side we are seeing 24% in one year so if you are curious about where you fall reach out to me!2022-04-05T07:11:00-07:002022-04-05T07:19:16-07:00Jenny Smithtag:jennysmithandassociates.com,2012-09-20:4020Jenny On What's Going To Happen In NW Georgia Real Estate In 2022
Jenny On What's Going To Happen In NW Georgia Real Estate In Spring 2022
Are you interested in knowing whether home values will go up or down with the recent happenings this 2022? Jenny is giving her predictions for the Spring 2022 market here in NW GA.
I think we will have a great year. I think there's plenty of sellers out there who are motivated to get those properties sold this year. The prices will continue to go up because we just don't see enough new construction to take that demand off and I don't think that the price is going to go down either.
The things that are happening in the world, will that have any impact? I will be honest, COVID-19 was a huge disruptor and it didn't have much of an impact rather than disrupt. It really pushed people to recognize what having a house means to them.
I think with everything that is going on right now I don't think interest rates will significantly go up this year to offset people who are getting a house and we need to understand as things happened with the inflation, war - all of that, what happens to rental prices? They continue to go up.
While we may not see the home prices go up at the rate they have been, I do believe we will see them continue to go up and with plenty of demand.
If rent prices go up, and interest rates go up then we will definitely see people want to lock into a home price that stays the same, in regards to the principal and interest, and not miss out on the historic low interest rates!2022-03-22T07:00:00-07:002022-03-22T07:45:47-07:00Jenny Smithtag:jennysmithandassociates.com,2012-09-20:3144Bartow, Floyd, and Gordon County Market Update
A few market stats and a tip for if you can’t find the right home to buy.
Today I’m sharing a few market stats as well as something to consider if you’re having trouble finding the right home to buy right now.
"Moving a little further out could open up more possibilities for you."
Here in Bartow County, the average sales price has increased to $259,000, in Floyd County, it’s $198,000, and it’s $186,000 in Gordon County. In situations like this where sales prices are so different, you may want to look a little further out to find the home you’ve been dreaming about in your price point. My husband used to have a job near Atlanta, but we could only afford a very tiny home near there, but if we moved a little farther out, we could find a house that fit our family’s size. That’s one of the reasons we first moved to Bartow County.
Everyone has a job, some may commute, and some might have children in school, and those things are important. However, you may want to consider moving to Floyd or Gordon County where home prices are better. Sometimes the commutes are only five or ten more minutes because of our great interstates and the many different road systems between these three counties. Moving a little further out could open up more possibilities for you.
We are starting to see increases in inventory, thank goodness. We had 148 new listings come onto the market in Bartow County in April and 76 in Gordon County. Houses are still selling very quickly.
As always, if you have any questions about the market or want to discuss your situation, don’t hesitate to reach out to us via phone or email. We would love to help you.2021-05-10T07:55:00-07:002021-05-11T10:10:22-07:00Jenny Smith