Real Es tate Weekly The

with Jess Barron

2023 Real Estate Forecast

You may have noticed that the real estate market has changed dramatically recently. We saw the strong seller’s market peak earlier in the year. Homes were selling at all-time high prices with record demand from buyers. We were regularly seeing multiple offers over list price with cash buyers typically winning these competitive bidding wars. I received 23 offers on one listing and 21 on another. This has all changed.

With mortgage rates up from three percent and four percent to seven and eight percent, the market has really changed. The number of homes available for sale, which was a huge problem earlier in the year, is slowly increasing but demand has cooled off. Many buyers have decided to wait to purchase until interest rates go down. These two developments, along with a historic inflation increase, have slowed down the real estate market considerably. Listings are taking much longer to sell, weeks and months instead of days. The number of showings has decreased considerably as there are just not as many buyers in the market. Now is a better time to buy than it was earlier in 2022.

We are seeing a buyer’s market take shape. While the real estate market is cooling, prices have decreased some but not significantly. They are still holding close to where they have been earlier in the year. I do see 2023 as a good time to be a buyer, as I expect prices and mortgage rates to decrease.

Lawrence Yun, the National Association of Realtors (NAR) chief economist, expects home sales to decline by seven percent in 2023, while the national median home price will increase by only one percent. In 2024, Yun projects a strong rebound for the housing market, with a 10 percent jump in home sales and a five percent increase in the national median home price. According to Yun, 2023 would be a better time to purchase a home than waiting to 2024.

If mortgage rates can drop from seven percent, that would be the optimal time to buy. According to the Mortgage Bankers Association (MBA), mortgage rates should be close to 5.4% by the end of 2023. If you are trying to “time your home purchase” this might be the time frame to aim for from what I am seeing and hearing in our marketplace.

Jess Barron is an Associate Broker with Lindseys, Inc. Realtors and former President of the Newnan-Coweta Board of Realtors ■

By Bill Hammond, Coweta County 4-H Extension Agent

Coweta County 4-H Helps Teens be Relationship Smart

By the age of 18, it is estimated that 95% of teens will have experience in romantic relationships. Teens who are in healthy relationships are more likely to feel better about themselves, have higher self-esteem levels, achieve more in school, and have better relationships with their families. About one in five teens say most of their friends are in unhealthy relationships and one in ten teens have been hit, slapped, or physically hurt on purpose by their boyfriend or girlfriend. Does your teen have the emotional intelligence to handle challenging situations in his or her dating relationships?

Developmentally, one of the ways adolescents explore who they are is through relationships. How adolescents approach these relationships is influenced by the relationships modeled around them. While some youth may have witnessed and learned about positive couple interactions from good models, many may have witnessed only poor models of couple relationships. Educational programs on healthy relationships can help youth develop skills to make smart relationship choices and avoid risky behaviors. The decision-making and relationship-building skills youth can learn through this programming can also spill over into other relationships with parents, peers, and teachers.

Dating is an opportunity for teens to learn about themselves and what they want in a future longterm committed relationship. Forming healthy relationships can help teens learn important skills such as cooperation, appropriate behavior, compromise, sensitivity, and the ability to understand others’ feelings. These skills can lead to future healthy relationships in adulthood. On the other hand, unhealthy relationships can put teens at risk for early sexual activity, depression, and poor social skills. Wise choices will assist teens in achieving their education, employment, relationship, and family goals, while poor relationship choices may create barriers to these goals.

Love Notes is a research-based curriculum designed for high school teens that incorporates hands-on activities to focus on skills and knowledge necessary for healthy dating relationships. The curriculum, developed by The Dibble Institute, offers developmentally appropriate information that addresses personal development, goals and values, what healthy (vs abusive) relationships look like, current relationship dynamics, and important communications skills. It appeals to young people’s aspirations, rather than merely emphasizing what they must avoid.

The first lessons explore who the teens are and what they expect for their future. Lessons continue with discussions about the characteristics of relationships including recognizing if it is healthy or unhealthy, making smart decisions, and having good communication skills. The curriculum builds to include the six parts of intimacy (Hint: it’s not only physical), the dangers of moving too fast in relationships, and the burdens that could happen with unhealthy relationships. Each lesson ends with a “Parent-Teen Connection” where teens are encouraged to have honest discussions with parents and trusted adults. Parents play a very important role in helping their teens learn what is healthy in a relationship and what is not. Parents can also help teens better understand the feelings they experience and how to manage them.

To learn more about the Love Notes curriculum for your child, you are invited to attend a virtual Q&A session hosted by Mr. Bill Hammond on Thursday, February 16th at 6:30 pm. Contact the Coweta County Extension office at 770-254-2620 or email 4-H Agent, Bill Hammond, at Billh1@uga.edu to sign up.

For a short overview about the Relationship Smarts program, visit bit.ly/relationshipsmarts

An Equal Opportunity, Affirmative Action, Veteran, Disability Institution

Bill Hammond is the Coweta County 4-H Youth Development Agent. His role includes overseeing all 4-H programming in the county including specialty clubs, S.A.F.E. (Shooting Awareness, Fun and Education) teams, volunteers, school clubs, and other 4-H programs and events.

Yamaha Motor Manufacturing Corporation of America is hiring welders for our facility in Newnan, Georgia, due to our continued growth. We are looking for hardworking dedicated people! Benefits include insurance, 401k, profit sharing, tuition reimbursement, and more.

“Working at Yamaha has given me an awesome career trajectory. My job has given me financial stability, which has enabled me to have two kids in college right now.”

– Antoine H. Welding Supervisor