Real Estate Report - February 2023

February Special Section

New Year, new you and a fresh start with interior design!

The New Year catapults a fresh start to an optimistic outlook on everything! It’s been challenging navigating this new ‘normal’ we live in lately. Our homes and how we use them, have massively evolved as we embrace multifunctional spaces to have balance and a sense of our own personal retreat.

The following are a few design ideas to incorporate in your living space.

Multifunctional Space

Single use spaces are a thing of the past, and now is the time to make the most of every inch of our home. Whether it’s having double purpose rooms or multi-use furniture with innovative storage solutions, there’s an answer for everyone’s needs!

Take a look at the vertical space your room offers, and invest in some shelving such as bookcases, etageres, media walls etc. to add layers to your interior and allow

offices to double as libraries or a quiet place to read/ study.

Mirrors are also a brilliant addition as they reflect light in the room and open up small spaces to become multi-use areas to suit your homes’ needs!

Color

Green supreme looks are set to radiate our homes interior design ideas! As we start 2022 in the winter season, we don’t have a ton of green surrounding us by nature, so the more we can incorporate into our homes the better!

Whether it’s furniture color, area rugs, accent pieces or a pop of color on your walls, creating a true sense of well-being and balance is key!

Color is a massive mood booster with a naturally uplifting effect. As an interior designer making my clients homes look amazing is my top priority! Adding vibrancy

and functionality to every space is optimal and the input from a designer is very beneficial!

Start the New Year of right by consulting with a professional today! Wishing everyone a healthy & prosperous 2023!

Susan Gerber, Interior Designer, is an accomplished, award winning interior designer with Tuscany Fine Furnishings of Roswell, 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

Five on-trend housing design predictions for 2023

Brought to you by –

Bill Rawlings, Atlanta Fine Homes Sotheby’s International Realty

Curating the details that fit your home and make it yours is always an individual process based on your personality, needs, budget and preference. The best design is not a replica of the latest trends but a custom articulation of the individual designer or homeowner’s interpretation of them. Ironic, then, that personal expression is very on-trend for 2023. That, and smart homes…

1. Cozier spaces.

As spacious and expansive as openconcept floor plans are, post-pandemic the consensus seems to be that there is such a thing as too much togetherness. Intimate retreats reimagined from nooks and crannies and in-between spaces are in demand, along with areas that promote privacy, such as libraries, home offices and yoga rooms.

2. Moodier use of color.

Although timeless, the Scandinavian aesthetic characterized by white and wood is now giving way to richer, more emotional color palettes. Dramatic, evocative palettes— including jewel tones—have increased in popularity, part of a larger trend toward self-expression.

3. Floating vanities.

Popular for its versatility and use of space, the floating vanity now figures largely in residential bathroom

renovations and new builds, and for good reason. They are more portable, just as durable as floor-standing vanities and generally competitive in price.

4. Elevated mindset.

Less about the glam or expensive furnishings, taking a luxe approach to design in 2023 is about an appreciation for the finer things, creating a custom space that feels warm, inviting and timeless. Interpreted in any number of ways, this principle might be rendered through the quality and sustainability of the materials, the type and amount of available light or the rustic comfort of wood and stone accents.

5. Black Accents.

From doors to cabinetry to lighting fixtures and other finishes, the trend toward accenting in black appears to be growing, especially since it pairs well with different colors and mixed metal finishes. Sophisticated and dramatic, it complements any space well.

Whether you are remodeling your space for personal enjoyment or looking to sell in 2023, figuring out the best way to interpret design trends and create a comfortable, inviting space is a process. 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!

2023… Chaos to calm?

Brought

to you

by –Lara Dolan, Realtor and Partner, The Craft Dolan Team at Ansley Real Estate

As we slide into a New Year, it’s valuable to take time and reflect. For 2023, we’ve spent more time than normal contemplating our experiences over the past 3 years and concluding that the first few months of each 2020, 2021 and 2022, were pretty unique times in our collective experience.

- The first quarter of 2020 had us wondering where this “corona virus” would lead. Terrifying numbers of actual and anticipated deaths, overworked hospital staffs, global shutdowns, and intense economic fear were a reality for many. In our industry, Realtors, builders, and lenders worried that the business of real estate would halt dramatically which it did, for about 8 weeks.

- January of 2021 ushered in some positivity. Vaccines were being widely distributed; however, people had left the workforce in droves and most schools were not yet in person. Real estate prices were on a dramatic upward swing as people considered that business might never return to “normal”. The trend that began in summer 2020, of people purchasing homes farther away from cities and traditional employment hubs gathered steam. Combined with record low interest rates, the real estate market saw continued unprecedented growth in a heavily slanted seller’s market.

- Q1 2022, and Omicron was on everybody’s lips. While the impact of this variant was less severe, it was clear Covid may be here to stay. With continued low interest rates, competition remained stiff for buyers while sellers enjoyed continued profit taking for the first half of the year until the Fed’s activities resulted in an abrupt increase in mortgage interest rates and the corresponding nose-dive in real estate activity overall.

“Chaos” seems an adequate term for the past three years. So where are we now? The early weeks of 2023 find most communities carrying on as normal; schools are back in session and many people are back to work in-person at least some of the time. Residential real estate is slowly emerging from the halt brought on by last summer’s swift interest rate hike. A “return to normalcy” has become a common phrase, but what does it mean? In real estate we believe it means a more equitable position between buyers and sellers without either party having a dramatic advantage. Stabilizing interest rates and inventory are helping to drive that equilibrium. Our Milton/Alpharetta/ Roswell area consistently fell below the one-month-of-inventory mark in those chaos filled months… meaning that if no new homes came on the market it would take only week or two for inventory of available homes to be zero. Now, inventory sits at approximately 3 months…still a seller’s market (experts consider 6 months to be “neutral”), but certainly it’s a leveling playing field. Most experts anticipate that interest rates too will stabilize around 5.5%

which is a solid, palatable rate for buyers.

This leaves us excited for 2023 and the opportunities for buyers, sellers and investors. We are energized by the chance to engage with clients at deeper levels and spend more time evaluating their options and next steps. We see first time homebuyers coming into the market now that they aren’t beating their heads against all-cash buyers or those willing to waive every contingency. We also believe there will be buying opportunities in some second home markets later this year, and small investors are stepping forward to fill some much-needed lease options. If the past three years can be characterized by “chaos” then perhaps 2023 will bring “calm”, which should be a good thing for a while.

For more on some of the hot topics facing the real estate markets please check out The Craft Dolan Team’s “Tastings and Teachings” calendar for 2023. On March 2nd we will host a panel on Aging Parents, a situation we are facing along with many of our clients.

https://www.ansleyre.com/site/thecraft-dolan-team/pages/6283/tastingsteachings

DOLAN

Selling your home this spring

Brought to you by -

Caroline Nalisnick, The Kloster Group at HOME Real Estate

We are only a few weeks into 2023 and the spring real estate market is already in full force. Buyers felt defeated going into the fall with high interest rates causing a lot of buyers to pull out of the market. Now that interest rates are starting to settle down, buyers are resuming their home search. As we trend towards a more neutral market, one aspect has changed from last year - buyers are more selective.

While we are seeing average days on market around 30-45 days, multiple

offer situations are out there. Buyers are willing to compete for a home when the home is move-in ready. As a Seller, that means that preparing your home for market is more important than ever. Buyers value a clean and well-maintained home. A well cared for home that is clean with up-to-date renovations, fresh landscaping, and staging all play into how desirable your home will be this spring.

Some of the easiest ways to make your home standout include cleaning windows, refreshing landscaping with new mulch and pine straw, de-cluttering your home, deep cleaning the house from top to bottom, updating light fixtures, replacing burnt out light bulbs, pressure washing your exterior, blowing leaves off your roof, cleaning out gutters, and touching up paint

on trim, doors, and walls. You want a buyer to walk into your home and be able to spend their energy and time envisioning their lives within those walls. You don’t want a buyer to leave with a checklist of small projects to tackle immediately upon closing which overwhelms and scares a buyer away. Without taking on full renovations, staging is an excellent way to showcase how to best utilize the space with furniture that is on trend and neutral to a wide buyer base. Homes that are staged are selling quicker and for more money.

Buyers are also expecting to include contingencies in an offer they present. Due diligence is rightfully back as well as appraisal and financing contingencies. While it is still competitive, it is a lot more even playing field than last

spring. Buyers want to take the time to make sure they know what they are buying and have had the proper time to inspect and analyze such a large purchase.

If you need help determining what preparation is necessary to sell your home, reach out to a full-service realtor like The Kloster Group. We are happy to walk through your home and help set you up for success in your sale. The effort you put into prepping your home will pay off every time!

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 Caroline at 404-513-9226 or email caroline@homegeorgia.com and get a response within 24 hours.

NALISNICK

Brought

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

For a limited time, Patrick Malloy Communities is offering a 4.99% 30-Year Fixed interest rate on available homes at Hillandale a charming Charleston inspired neighborhood. Offering elegant interior finishes and unique designs, Hillandale is located just minutes from the heart of Historic Roswell and features sophisticated four-and five-bedroom thoughtfully curated homes with an abundance of entertaining spaces both indoors and out. Luxury features can include a unique moving wall of glass doors that lead to outdoor living areas, primary suites, 10 ft ceilings and hardwoods on the main level, as well as high-end stainless-steel appliances and basements. In addition, the Patrick Malloy Design Center is available to help customize each home’s interior.

In addition to impressive interior details, the homes at Hillandale include a variety of features including an irrigation system, tankless water heater, freestanding tub, gas lanterns per plan on front patios, pebbled driveways and community sidewalks. Front and rear

lawn maintenance are also included in the HOA.

There are several move-in ready homes available including the popular Windham situated on lot 9 which offers a lavish owners retreat on main level. The grand 2-story entry foyer showcases the wonderful flow and functionality of this home. There is a dining room with butler’s pantry and seating for 10+ guests. The chef’s kitchen with oversized island and breakfast bar opens to the fireside family room with beamed ceilings. This fourbedroom and four and one-half bathroom home is offered at $1,098,820.

On Lot 10, the Galway B does not disappoint with its spacious open concept living and guest suite on the main level. The impressive kitchen boasts upgraded finishes, center island, stainless steel appliances and double ovens. The covered patio off the kitchen is ideal for large scale entertaining. Upstairs find an impeccable owner’s suite with sitting room, a loft, and generous secondary bedrooms for a total of four-bedrooms and three-and-one half baths. Offered for $1,126,060.

The Tierney situated on homesite 11 is a striking two-story home featuring four bedrooms, three and one-half baths and is perfect for entertaining with open living

spaces and a chef’s kitchen with the latest in design. There are three large secondary bedrooms and a large loft. Priced at $1,126,005, this discerning home includes hardwoods on the main level and an extensive list of designer upgrades.

Homesite 12 features the Galway A an open and inviting home design with three bedrooms, four baths and a loft perfect for a home office. The elegant, sleek kitchen offers a huge island with breakfast bar and a hidden walk-in pantry with appliance bar and floating shelves. Enjoy easy access from the kitchen to the covered patio for additional outdoor entertaining space. Other assets include a mud room, an abundance of storage and three-car tandem garage. Offered for $1,105.310.

Homeowners at Hillandale enjoy a convenient and central location with easy access to local dining and shopping. The Chattahoochee River and pristine parks envelop the area creating a wide array of recreational activities. The Chattahoochee River Nature Preserve is just a short drive away with kayaking, biking and walking trials, and a summer music series. Districted in Roswell’s highly acclaimed school system, Hillandale is a neighborhood suited for any lifestyle.

Patrick Malloy Communities, founded in 1994 by Patrick Malloy, builds new homes in Metro Atlanta and Savannah, Georgia. To date, the builder has developed over 11,000 homesites and built 7,000 homes with a total of more than $4 billion in sales. Accolades include multiple mentions in the Atlanta Business Chronicle’s Top 20 Homebuilder and numerous professionalism awards, including community of the year awards. Patrick Malloy Communities also received a 2022 Guildmaster Award from GuildQuality for demonstrating exceptional customer service within the residential construction industry.

For more details on Hillandale, visit PMCommunities.com, call 770/2545372 or visit the sales center at 3025 Barnes Mill Ct. Roswell, 30075. Patrick Malloy Communities is represented by Berkshire Hathaway HomeServices Georgia Properties’ New Homes Division. BHHSgaNewHomes.com. An Equal Housing Opportunity.

For a limited time, 4.99% 30-Year fixed interest rate at Hillandale in Historic Roswell

Georgia’s housing market still highly desirable

Brought to you by – Wesley Hansard, Harry Norman Realty

As we enter 2023, Georgia’s housing market continues to be desirable as our state attracts individuals and businesses. Now the 8th most populous state, Georgia was the 4th highest state for population growth last year. These movements continue to create economic activity and demand for housing, supporting a solid housing market.

This growth will help fuel on-going demand for housing in 2023, a positive if you are considering selling your home. For buyers, we anticipate inventory to remain lower than historical averages, though not as drastically low as we have seen over the past couple of years. The potential impact of rising mortgage rates will be top of mind for buyers.

Regardless of where interest rates move in 2023, Georgia and Atlanta are the place to be. The National Association of REALTORS® recently named Atlanta the No.1 Market to watch in 2023. To get a better understanding of your opportunity, reach out today for a market update specific to your situation. We’ll provide what you need to make 2023 a real estate success.

Know your rights with estate planning

by - Holly Geerdes, Geerdes & Associates

Estate planning isn’t about how much money you have. It’s about protecting what you have for you and your loved ones. Whether your estate plan includes just a Will and Power of Attorney, or if you’ve set up a trust, estate plans go a long way in making sure that what you leave behind goes to the people you care about.

So, what is an estate plan and why should you create one? To answer the second question first, Georgia is a state in which the right of survivorship is not automatic - meaning that you could lose control of your house if your spouse passes away while owning the property jointly. Not to mention, if you don’t prepare an estate plan that avoids probate court, you could lose a significant amount of your assets, as probate court is the only way to reclaim an estate - even if you have a will. In probate court, anyone can go after the assets of your loved ones, but

some notable contenders include Medicaid, creditors, debtors, and of course, the government.

The last thing anyone wants to do is to have to fight for the assets of their loved ones right after losing someone precious. That’s why an estate plan is essential if you want to leave your family with a peace of mind. An estate plan is an asset protection plan that focuses specifically on ensuring that what you own goes to the people you want it to go to. Simple estate plans generally include establishing a trust, which is one of the few ways to avoid probate court. More advanced plans will include not just a trust, but also a healthcare directive, Power of Attorney, will, and many more documents to prepare for every scenario.

If you pass away tomorrow, are you certain that everything will be in good hands? If not, then it’s time to start strategizing to make sure no court battles or obscure law will take what you own from you.

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Brought to you

7 timeless kitchen trends that will never look outdated

Brought to you by – Remodeling Expo Center

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

cabinet fronts, these functional features will never be outdated.

Built in Appliances

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

What can local home buyers expect in 2023?

The last several months have been especially tough for home buyers, who've had to contend with rising interest rates and low inventory for much of 2022. However, it looks like the real estate market may be turning a corner in favor of buyers. In fact, according to Compass CEO Robert Reffkin, all signs are pointing toward a shift in the market for 2023.

Over the last month, there’s been a sharp increase in mortgage applications and buyers requesting to view homes. This renewed interest in purchasing property has led to more buyers putting in offers, proving that the market is changing. Sellers have also begun giving concessions to buyers upon closing rather than the other

GRIFFIN

way around. In fact, in Q4 of 2022, buyer concessions reached a 10year high. This is great news for buyers as sellers have held all the power for the last two years.

So what does this mean if you want to purchase a home this year? Buyers are in a good position to negotiate now that the housing market has cooled off a little.

Because of the ongoing low inventory, buyers can be confident that their new home will retain its value. Interest rates have also gone down slightly in the last few weeks. Even a small dip in rates translates to significant savings for home buyers. If you’ve been thinking about buying a home this year, it’s worth talking to a mortgage broker about your options. Overall, it looks like the buyers’ strike has ended and experts are feeling more optimistic about what that means for buyers in 2023.

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