Real Estate Report - March 2023

March Special Section

Tuscany Fine Furnishings… Atlanta’s Customer Satisfaction Champions

Latia Engemann McDonough, GA

Customer satisfaction has always been our first priority at Tuscany Fine Furnishings, est. April 29th of 2004 In 2017, we opened our New, State-of-the-Art 18,000 sq. ft., Showroom and Design Center, in Roswell, focusing entirely on enhancing our customers shopping experience.

In 2019, we launched an Industry First! New Age Website for Design & Interiors…TuscanyFineFurnishings. com. Tuscany became the first brick and mortar storefront to be recognized by both Facebook and the National Home Furnishings Association (7,000 members strong), as Pioneers… seamlessly integrating Social Media, combining Facebook, Instagram, Whatsapp Business, Google Business (Maps and Search) and YouTube …“offering the best Website/Mobile shopping experience for Design & Interiors.”

We recently received a number of Tuscany Social Media 5 Star Reviews from our satisfied customers and we thought we might share them with you…

• “Such a Beautiful experience, so helpful and very knowledgeable about all the high end Brands.... Please bring a U-Haul or moving truck, you won’t be disappointed. See you real soon for custom leather pieces.”

• “The inventory was nicer than I thought it would be. Also, much larger store than it looks like from the outside. Helpful staff.”

Ken Rubin Duluth, GA

• “5 Stars”

Dreams2Reality LLC

Adeatric White, Owner Atlanta, GA

• “We’ve purchased several items from Tuscany and love our furniture!”

Normandee Jones Kinard Atlanta, GA

• “The Tuscany Showroom looks Beautiful!!!”

Natalie Monat Roswell, GA

• “The Tuscany showroom looks beautiful!”

Additionally, slideshow Customer Testimonials can also be found on each Tuscany Website Page.

Bravo Riccardo, Peter, Susan, Debbie, Kam, Jose, Angel & Luis!... your professionalism always shines through your customers. We send our love to all our loyal Customers as we greatly appreciate, your faithful patronage… Kathy McConnell, Interior Designer & Owner

Riccardo Apreda, Store Manager, Peter Benedetto & Susan Gerber, Interior Designers all accomplished, award winning interior designers with Tuscany Fine Furnishings, providing …Lifestyle Driven Design...Furnishings for Every Room in Your Home, 1570 Holcomb Bridge Rd. Suite 315, in Roswell, 770-993-0640 ext. 2, Showroom Hours: Mon-Sat 10-6 p.m. Sun. 1-5 p.m… See why…26,000 Families Follow and Shop Tuscany on FACEBOOK, INSTAGRAM, WHATSAPP BUSINESS, GOOGLE BUSINESS AND YOUTUBE... Everyday!

Brought to you by - Kathy McConnell, Tuscany Fine Furnishings

Cynthia Hawthorn Douglasville, GA

First-time homebuyers: consider the long game

Brought to you by -

Tracey Craft, Realtor, The Craft Dolan Team at Ansley Real Estate | Christie’s International

All of my buyers right now are under 30. Every single one of them. And I love it!

First-time homebuyers are taking advantage of interest rates in the 6%’s, a healthier housing inventory than we’ve seen in years, and low downpayment options offered by lenders.

February kicked off with interest rates in the mid 5%’s, spurring buyer activity. At the end of last week, lenders were reporting 6.2% - 6.8% and talking about the upcoming swing back up to the 7%’s, indicating now is the time to lock in.

Lenders are offering a variety of

programs to keep the home-buying ball rolling. Especially attractive are 3% downpayment options on conventional loans for first-time buyers, and discounts that can lower interest rates by as much as 0.5% when a buyer’s annual income is under the median Atlanta income of $95,000.

And if that 3% downpayment is still a challenge, consider sources such as a family gift. There are guidelines, but simply put those that share a familial relationship can gift funds to a buyer towards a downpayment.

“The downpayment often feels like a barrier to first-time buyers, but there are programs to help promote ownership,” observes Isaac Berry, Southeast Mortgage. “I encourage first-time buyers to play a long game and not be overly concerned with near-term market gyrations, given that over time renting is essentially a contract to make a house payment forever, whereas buying secures

the price of your home forever and allows you to lock in guaranteed payments that create an equity position and ultimately grow personal wealth.”

I could not have said it better. And there is likely not a lender or a Realtor that would disagree.

“For most, a home is your largest nest-egg,” says Geoff Smith, Assurance Mortgage. “Making a mortgage payment each month is like putting money into a savings account. You’re building equity in an asset that will be realized when you sell it later in life, or which you can borrow against in an emergency.”

Steve Beecham, HomeTown Mortgage uses one of my favorite sayings: ‘date the rate, marry the house.’

“Rates may be climbing now, but we expect them to lower next year, so marry the house when you find one you like. We can refinance later,” he says.

Ty Keller at Cross Country Mortgage puts it this way: “Although we’ve seen

an interest rate increase, we’re still at historical lows, while rent increases have been rampant. Talk to a lender about first-time buyer programs and crunch the numbers. You will likely pay less per month to own then to rent.”

Another one of my favorite sayings: ‘if you’re paying rent, you’re paying someone else’s mortgage.’ It’s true! Call me to discuss how you can stop paying someone else’s mortgage and start paying yourself by acquiring an equity position in a home of your dreams. Play the long game.

The Craft Dolan Team is hosting a panel for First Time Home Buyers on May 4th, 5:30 - 7 pm, at their Ansley office, 31 Church St, Alpharetta. Email your RSVP to tracey@ansleyre.com. The event is free, but please register for a food and beverage headcount. Learn more at: https://www. ansleyre.com/site/the-craft-dolan-team/ pages/6283/tastings-teachings

7 Timeless kitchen trends that will never look outdated

cabinet fronts, these functional features will never be outdated.

Built in Appliances

Between expensive appliances, custom cabinets, and costly countertops, we spend a lot of money on our kitchens. In fact, according to John Hogan, Owner of Remodeling Expo Center in Roswell GA, the median spend on a kitchen remodel was $32,000. To make sure that all of this money isn’t creating a kitchen we’ll want to update again in five years, the trick is to incorporate timeless design elements that won’t soon go out of style. By choosing kitchen features that can stand the test of time, you’ll save yourself money (and the work of remodeling) down the line.

So what are the kitchen trends that won’t make you cringe a few years from now? Skip the trendy color of the year, and follow these timeless kitchen ideas that have been loved for decades.

Neutral Paint Colors

The classic white kitchen is sometimes critiqued for being a little boring—but there’s one solid reason to opt for this color in the kitchen: It will never go out of style. According to Remodeling Expo Center, a whopping 43 percent of renovating homeowners opted for white cabinets. Not sure which shade of white to go for? Don’t worry, soft grey’s are also just as popular and combining the two work well also.

Shaker-Style Cabinets

Known for their simple design and recessed-panel doors, Shaker cabinets have been in-style for more than 100 years. Shaker cabinets are popular in farmhouse kitchens, transitional kitchens and are the perfect element to update an otherwise traditional house.

Drawer and Cabinet Organizers

I’m calling it: Organization will never go out of style. And while features like built-in baking sheet dividers and pull-out cabinet drawers haven’t been around for that long, when hidden behind unfussy, timeless

Nothing finishes off the look of a kitchen like the smooth finished look of a built-in appliance. Especially the refrigerator and the microwave. And conversely, nothing looks more outdated than a refrigerator or microwave sticking out or on the countertop. A thoughtful kitchen design should include clever and seamless appliance installation.

Natural Materials

Adding in natural materials like wood and stone will ground the space and keep it classic. If you want a timeless look, resist the urge to create an ultra-modern kitchen full of shiny stainless steel and engineered materials. Resist the feeling that “natural” equals “old”

White Marble “Look” or Butcher Block

Countertops

The white marble look will always be an elegant choice for kitchen countertops, but if the maintenance and potential for staining has you worrying about its longevity, consider using quartz. For a more classic look consider butcher block. The go-to choice for farmhouse kitchens, butcher block will wear beautifully over the years and you can prepare food directly on it.

Subway Tile

Subway tile is not only versatile enough to work with many different decor styles, but you probably won’t get sick of it in five years (after all, the look’s been around for over 100 years). While it may be tempting to go with a trendy backsplash, like metallic tiles, sea glass, or bright geometric tiles, opt for something a little simpler if you want a backsplash with staying power.

To learn more, contact The Remodeling Expo Center at 404 910-3969 or stop in at 48 King Street, Roswell, GA 30075. www. RemodelingExpo.com

Brought to you by – Remodeling Expo Center

Spring housing market is early!

Brought to you by – Wesley Hansard, Harry Norman

Realty

Has the Spring Market already arrived? We are seeing mortgage applications rise at the start of 2023

and more listings hitting the market. New construction homes are on the rise, which all indicates that the Spring Market has come early! We are still in a low inventory situation, which experts believe will still be the case for the

entire year. If you are looking to sell your home, now is the perfect time to list it! I work with great lenders that offer competitive interest rates and a Rate Buy Down program to help with the high interest rates. As the saying

goes, “Marry the home and date the rate”, Buyers can always refinance after the rates come down. I would be happy to talk to you about Buying or Selling a home, and let you know the best avenue to take.

Location, location, location

Brought to you byAllison Kloster, Associate Broker, Home Real Estate

As everyone knows and we have all heard many times, there are three words in buying real estate. These are location, location, and location. Buyers often assume that means where the house is physically located in the city. While that is certainly true and important in the thinking process of where one should buy, there is so much more to those three words.

I typically tell my clients that we start with where in Atlanta they want to live, then where in that specific community they are hoping to land and then lastly, how the home sits on the lot. Is it sitting below street level, on a steep driveway, or backing to power lines? Those all present their own set of challenges down the road, so we want to ensure that you are aware of them before you purchase the home. There is even more to consider with the word location though.

As a buyer, you should consider where you spend your free time, where you exercise, where you like to shop, where you go to relax, where you worship, where you take your pets and where your friends and family live. We also want you to think about traffic patterns to those places and the times of day that you may be trying to get to where you need to go. Convenience and ease are two large, yet sometimes forgotten, contributing factors to put into the equation of narrowing down your targeted area.

The more you can talk with us, your Realtors, the more we can help you ascertain some of these very important lifestyle location decisions. If you want to go the mountains every weekend, or go to the lake on your down time, then tell us so we can find a great location that will serve your family well for during the week obligations but allow you a quick getaway to your favorite escapes on the weekends. We also suggest visiting the community multiple times in different ways before committing to that city or town. Instead of going to dinner at your favorite haunt, go to the community you are considering moving to and enjoy something hyper local. Try to dine at

local small business and get to know the people that frequent it. They will tell you more about an area and share the micro details that only they know so well. If dinner isn’t a possibility, go have coffee at a local coffee shop or breakfast at the local pancake shop and ask the servers what they can tell you about the area. While you are waiting for your table, ask another patron for their take on the area as well. You will be pleasantly surprised at how much information you can gather this way. You can also go to the grocery stores and other shopping destinations and make sure the area offerings are to your liking.

Location is the key word in real estate. There is so much to it. Enjoy the journey and take the time to really investigate different locations. You will feel more confident in your final decision on where to purchase.

Investing in your home is one of the hardest and most important decisions you will make for your family. You don’t have to do it alone! Call or email Allison at 404-784-5287 or email allison@homegeorgia.com and get a response within 24 hours.

KLOSTER

Why now is a good time to buy a new home

Brought to you by – Berkshire Hathaway HomeServices Georgia Properties’ New Homes Division

Metro Atlanta, like other major cities across the southeast saw unprecedented real estate growth over the past couple of years and while home prices have leveled off, mortgage rates have increased, leaving some buyers reluctant to move forward with a home purchase. So, what does this mean for someone who is considering a new home?

Lori Lane, President of Berkshire Hathaway HomeServices Georgia Properties’ New Homes Division gives some insight.

“My team and I work with some of the most respected builders all across the Atlanta Metro area,” said Lori Lane, “I am often asked if it is still a good time to buy a new home or should I wait? My question is what are you waiting for?”

First, it’s important to understand what is happening in today’s housing market. The inventory level of homes in Atlanta is still at a record low with

a deficit of 63,000 homes according to MarketNsights, John Hunt, and total inventory is now at the lowest level in seven months. A main reason the predicted collapse in home prices did not materialize. This is reinforced by Lawrence Yun, chief economist, and senior VP of research at the National Association of Realtors (NAR) who said, “even with a projected reduction in home sales this year, prices are expected to remain stable in the vast majority of markets due to extremely limited supply. Mortgage rates have trended down, and the new normal is 5.5% - 6.5%. So…for someone waiting for a 3% or 4% mortgage rate, it’s not going to happen.”

So, what does this mean for someone contemplating buying a new home? Today’s buyers need to realize that prices are not going to drastically drop. If you are sitting on the sidelines anticipating lower prices you may end up disappointed. In fact, home prices will continue to increase over time. According to NAR, historically, real estate has had a long-term, stable growth in value

with median single-family existinghome sale prices increasing on average 5.2 percent each year since 1972.

The next question is usually about waiting for interest rates to change. Atlanta continues to be one of the most desirable places to live in the country, According to economists at NAR, the metro Atlanta area is the best possible place to buy a house in 2023 based on a variety of factors. Buyers will continue to relocate here and when rates drop, more buyers will jump back into the market. With so little inventory that could put us back to multiple offer scenarios which will drive home prices up. Instead of being outbid for the home you want, go get the home you want now and refinance later when rates decrease.

I, of course, recommend new construction for several reasons. Many home builders are currently offering incentives including interest rate buy downs, 30-year fixed interest rates as low as 4.99%, which can reduce your monthly house payment by hundreds if not thousands of

dollars. In addition, some will pay towards closing costs, so you need less cash up front. Some builders offer move-in appliance packages as an incentive to help reduce the cost of big purchases. New construction gives you updated features, brand new appliances, a new roof, a builder’s warranty along with vendor warranties. A new home is often more energy efficient bringing costs down even more. So before more people jump back into the market and you have even fewer homes to choose from, remember Builders have some inventory out there and homesites you can build your dream home on. To sum it all up, the best deal you are going to get on your new home may be right now.

For information on Berkshire Hathaway Georgia Properties’ New Homes Division, our awardwinning builder clients and new home communities, or to contact one of our on-site sale specialists, visit BHHSgaNewHomes.com. Equal Housing Opportunity.

Nothing Compares.

Scan to view this month’s collection of featured properties exclusively represented by our firm.

How to restore your lawn after winter

Brought to you by – Bill Rawlings and Sherri Conrad, Atlanta Fine Homes Sotheby’s International Realty

Winter months can be rough on a lawn. Lower temperatures combined with frost, snow and long periods of time lying dormant beneath dead leaves, branches and other yard waste result in hard, packed soil, dehydrated blades and damaged roots. Road salts and chemical deicers destroy plant life and make it difficult for a lawn to recover, even into the spring and summer months.

The good news is that most grass is fairly resilient, and a little nurturing goes a long way! Here are a few ways to get your lawn back to a healthy, appealing bloom:

1. Mitigate snow mold. Characterized by unsightly white, grey or pink patches left behind as snow melts, snow mold is caused by a fungus that spreads once temperatures get to between 32º and 45ºF. The best way to prevent it is to encourage proper drainage and gently rake the grass to loosen and dry overly damp areas.

2. Rake excess thatch.

“Thatch” refers to roots, leaves and plant material along the soil surface that develops when debris is produced faster than it breaks down. Water gets trapped in this layer of organic matter, making your lawn more susceptible to shallow root systems, fungi and pests. Raking excessive thatch encourages grass roots to grow deeper and prevents undue moisture.

3. Aerate the soil.

Another way to encourage proper drainage and absorption of nutrients is to break up compacted soil with aeration boots or a manual appliance.

4. Lower the lawn mower blades. Using a lower blade setting on the first mow of the season can help to remove dead grass and stimulate new growth.

5. Fertilize appropriately.

Avoid fertilizing while the grass is dormant—from about six weeks before the first expected snowfall in autumn until it begins to perk up and actively grow in the spring—because this won’t do much besides encourage snow mold and waste money. Use an organic fertilizer, granular if you’re not in a hurry or water-soluble for a lawn that you want to grow quickly.

Giving your lawn a bit of encouragement as the weather warms and spring approaches will pay off in beautiful green groundcover during the summer. If you need assistance staging your home or have any other real estate needs, please contact Atlanta Fine Homes Sotheby’s International Realty at 770.442.7300. We would be happy to assist you!

Compiled and edited by Angela Valente, Marketing Copywriter/Copyeditor

What is the Power of Attorney?

Brought to

by - Geerdes & Associates

One of the most important legal documents in an estate plan is the Power of Attorneybut it’s also the legal documents most widely used to abuse the elderly. So, what is the Power of Attorney? A Power of Attorney is a legal document that grants someone the ability to make decisions on another person’s behalf, and it is an ability that only becomes active if the person granting the power, also known as the Grantor, is declared legally incompetent.

A General Power of Attorney does not give legal authority to someone else if you are incompetent. You have to have the right Power of Attorney to help you if you are incompetent.

There are different types of Power of Attorney. A Financial Power of Attorney allows a person, usually called the Agent, to make financial decisions for the Grantor. Depending on how the document is drafted, the Agent can do anything from filing taxes for the Grantor to selling his or her property. A Medical Power of Attorney, on the other hand, would allow the Agent to make medical decisions for the Grantor - so that means life support decisions, emergency procedures, and so forth. Someone with a Medical Power of Attorney

may also be called a Health Care Agent.

What is the danger in giving someone a Power of Attorney? Some legal documents these days are offered by online services who generate a generic document to sign for a small fee - without telling you what powers you are granting your Agent. If you trust your Agent, then that’s fine. But abuse of power often occurs when one signs away his or her rights to use and protect one’s assets to a predatory Agent. This predator can be a lawyer, a friend, and sometimes even one’s own family. Thus, when making an estate plan, it’s important to sit down with an attorney who has your best interests in mind, and do your proper research so you know exactly what powers your Agent needs - and what powers they shouldn’t have and to ensure you and your assets are always protected.

Finally, many people try to avoid probate - the costly and lengthy process in which a deceased person’s assets are distributed by the court - by granting their heirs a Power of Attorney. However, what they don’t realize is that the Power of Attorney terminates once the Grantor passes away. The best way to avoid probate is by creating a trust, since not even a will can prevent your assets from having to go through probate. It’s always best to speak with an attorney who specializes in estate planning before making any final decisions, and it’s doubly important that you fully understand what you’re signing, so you don’t signaway your legacy, your rights, or lose your assets.

GEERDES

Is 2023 the right time to buy a home?

With the uncertainty that’s surrounded the real estate market over the last few years, you may be hesitant to take the plunge and purchase a home. After interest rates reached a historic low two years ago, it can be discouraging to see them climb steadily. In fact, rising interest rates may have caused you to press pause on your plans to buy. However, according to Max Kallos, President of Ardent Loans, it’s helpful to look at interest rates over the last 50 years to get a big picture view of what’s happening. Historically, interest rates have averaged between 6-11%, so current rates are still sitting at the low end of that range.

While you might be concerned about interest rates, if you’re renting it’s likely

you’ve been affected by the rise in rent prices over the last two years. You may be wondering if you’d be better off buying a home so you can begin building equity in your own property rather than paying rent to a landlord. Especially if you’re planning on staying in the same area for a few years, Max Kallos believes it’s a good idea to consider home ownership. Now that the housing market has cooled off a little, it could be the right time to see if you can afford to buy.

Home values continue to increase across Atlanta which means real estate remains a secure investment. However, choosing to invest in a home is an important decision and there are many factors to consider. If you’re thinking about buying a home, get in touch with a trusted mortgage broker to talk through your options.

Brought to you by – Dan Griffin, Broker/Realtor, Compass Inc.

NAME