WE MADE IT THROUGH 2022 and hello 2023!
2022 was quite a roller coaster year in the real estate industry. We started the year with mortgage rates in the 3% range, rose to the 7% range in the summer, and ended the year in the 5% range. In all my years in real estate, I have not seen such rapid rate changes in such a short amount of time. Though we saw drastic changes last year, I am optimistic that we have peeked with the fast “ups,” and am hopeful that we will see a slight decline and leveling out as we move forward through this year.
I’m always being asked, “how’s the market”? My answer for 2023 is not much different from previous years. I anticipate the 2023 market to follow local trends for home prices and all markets to continue to have very low inventory. The $350,000-$550,000 market is considered a first-time home buyer market and continues to be difficult to enter. First-time buyers typically do not have real estate equity built up, and therefore need more savings or must adjust their mortgage package by either putting less money down or purchasing at a lower price point. Interestingly, in 2022, we also saw the sellers in this market offering great incentives to buyers with buy downs on the mortgage rates for up to 2 years. The buy down allows a buyer to refinance when rates decrease in the future.
In the last 18 months as home equity has significantly increased, seasoned homeowners are either purchasing a second home or are taking advantage of “cashing out,” and renovating their current home. It is exciting for me to see which route my past clients and friends are taking. All price ranges are still receiving multiple offers, and most buyers are either paying cash or are not worried about the increase in interest rates…
#1 Individual For Closed Volume - The Intown Office with $15,624,407 #5 Individual For Closed Units - The Intown Office 19 Units Sold 9 Closed Buyers 10 Closed Listings 7 Listings - Average Days on Market 102.16% List Price vs. Sales Price 8 Listings Sold Above 100% of List Price 2 Listings Sold Above 98% of List Price #22 Individual For Closed Volume - Company-wide 900+ Harry Norman REALTORS® $980,319 Listing Average Sales Price Ranged from $325,000-$3,110,900
SMC Associate Harry Norman, REALTORS® Lifetime Member Success Circle Harry Norman, REALTORS® $4M or Above for Recognition SUC C ESS CIR C LE Featured in Who’s Who Atlanta Realtor Magazine 2021 Phoenix Award Recipient for 10+ Years Top Producer Atlanta Realtors Association FOUR CONSECUTIVE YEARS OF RANKING #1 FOR CLOSED SALES VOLUME
RANKINGS FOR 2022
HIGHLY RECOMMEND
“ I truly enjoy working with Annette. She is very knowledgeable about the industry. Her professionalism with this experience was what I needed. I highly recommend Annette and will continue to use her for my real estate transactions.”
EXPERIENCED & UNDERSTANDING
“ Annette went to a lot of extra effort to understand us as buyers, our situation and needs. She not only provided advice but also acted as counsel for our thoughts. Annette made buying a house very understandable for us and helped us navigate potential pitfalls. We were particularly impressed by her proactivity and experience. It gave us confidence throughout a stressful process.”
WENT ABOVE AND BEYOND
“ Annette Ross is one of a kind. On a 1 to 5 scale, we give her 100.”
thank you for your support
TESTIMONIALS
LISTINGS | BUYERS
MIDTOWN PIEDMONT HEIGHTS BUCKHEAD NORTHSIDE CHASTAIN PARK BROOKHAVEN BRIARCLIFF HEIGHTS NORTH BUCKHEAD VININGS SMYRNA MORNINGSIDE DRUID HILLS NORTH DRUID HILLS NORTH DECATUR DECATUR AVONDALE ESTATES SCOTTDALE BELVEDERE PARK OAKHURST EAST LAKE EAST ATLANTA GRANT PARK LAKEWOOD HEIGHTS GRESHAM PARK WEST END DOWNTOWN ATLANTA EDGEWOOD OLD FOURTH WARD KIRKWOOD PEACHTREE HILLS UNDERWOOD HILLS GROVE PARK
ADDITIONAL HOMES SOLD IN MILTON, GA ALPHARETTA, GA LOGANVILLE, GA FAIRBURN, GA
HOMES SOLD IN 2022
A SOPHISTICATED CUSTOM HOME IN THE DESIRABLE MILTON NEIGHBORHOOD
List price: $2,950,000
Sold for: $3,110,900
Under Contract in 4 days
SCAN TO VIEW VIRTUAL TOUR
13980 HAYSTACK LANE
MILTON, GA 30004
8 BD | 9 FB | 2 HB
Sold for: $810,000 HARTS MILL 3758 HARTS MILL COURT CHAMBLEE, GA 30341 Sold for: $1,025,000 Sold for: $1,030,000 FOUNDRY 109 MEETING STREET HAWTHORNE PARK 189 ELVAN AVENUE NE
Sold for: $801,575
AVONDALE ESTATES 3205 WYNN DRIVE
Sold for: $775,000
TOWNES AT CHASTAIN 4327 PARKSIDE PLACE
AVONDALE ESTATES 415 RAMMEL OAKS DRIVE
AVONDALE ESTATES, GA 30002
Sold for: $650,000
Under Contract in 1 day
STUNNING CRAFTSMAN STYLE
HOME IN THE HISTORIC AVONDALE ESTATES
List price: $1,085,000
Sold for: $1,210,000
Under Contract in 4 days
SCAN TO VIEW VIRTUAL TOUR
3162 WYNN DRIVE
AVONDALE ESTATES, GA 30002
5 BD | 4 FB
Sold for: $725,722
Sold
Sold for: $635,000
Sold for: $429,575
EAST LAKE 2794 HOSEA L WILLIAMS DRIVE NE
for: $750,000 CASTILLE 4040 TIVOLI WAY
GRANT PARK 623 KENT STREET SE
IN FAIRBURN 6452 OAKHURST PLACE
SOUTHWIND
Sold
Sold
Sold
Sold for: $476,645 SCOTTDALE
for: $580,000 TOWNSEND OF DECATUR 308 COALTER WAY
for: $610,000 MIDWAY WOODS 2570 CREEKWOOD TERRACE
W PARKWOOD ROAD
for: $660,000 PARKWOOD IN DECATUR 308
3547 DIPLOMAT
ALLY
for: $454,990 MEADOWS AT BAY CREEK 3948 DEAN GROVE WAY
for: $325,000 ENCLAVE AT BOOTH’S FARM 63 CREIGHTON LANE EAST ATLANTA 1063 SHADOWRIDGE DRIVE ATLANTA, GA 30316
for: $565,000
Sold
Sold
Sold
AND WELCOME 2023
Thank you
Another question I am asked is, “Is my home worth more today than when I bought it, or even last year?” My answer, you bet it is! Of course, there has been a slowdown from what we experienced during the pandemic, (20% year over year increase in some markets,) I still do believe home prices will continue to rise. I anticipate 2023 prices will return to a more normal increase, which was always between 3-4% year over year.
If I didn’t believe that real estate is the most important aspect of growing wealth, then I wouldn’t be in this business. Owning real estate is not just supposed to be a money-making machine, it’s a place we call our own, it’s our roof over our heads, it’s where dreams can be made and come true, and its pride in home ownership. I believe if we can invest in ourselves with real estate, then we can help secure our future for our families and generations to come.
Thank you to my husband, Brad, family, friends, and my work family, Harry Norman, REALTORS® who support me and helped me achieve my best and most successful year to date. I’m excited to begin a new year and thank you in advance for continuing to be loyal to me and I look forward to advising new buyers and sellers as well in 2023.
@ANNETTEROSSREALESTATE @AROSSNOW ANNETTEROSSREALTOR
Above information is believed to be accurate but is not warranted. If your home is currently listed for sale this is not intended as a solicitation. 1518 MONROE DRIVE NE, SUITE E | ATLANTA, GA 30324 HN ANNETTE ROSS C: 404-683-5798 | O: 404-897-5558 Annette.Ross@HarryNorman.com