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Rates | Team Sterling real estate blog

Saturday, June 24, 2017   /   by Matthew Biggers

Higher property taxes FROZEN to 2016 levels for Fulton County

Good news for Fulton County owners! Other counties were lucky in that the property tax assessments didn't increase as much, but Cobb, Dekalb, Cherokee, and Gwinnett Counties still saw large property tax increases. But it's also bad news in a way -- although Fulton residents have a reprieve from the huge jump in property taxes this year, if you or anyone you know can't afford the new taxes you might want to consider selling this year. You can expect the inevitable property tax hike next year to stick, and if you sell your home in 2018 you'll be responsible for your prorated portion of those new, higher taxes. With our team selling houses for 4.95% higher sales-to-list ratios, and 35% faster, those are critical savings to offset these increased costs of ownership.
FULTON COUNTY, Ga. - The Fulton County Board of Commissioners voted unanimously to "freeze" property tax assessments at the 2016 levels after receiving community backlash for the 2017 rates and increases.
The resolution was p ...

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  condo, homes, sellers, real estate, townhome, rates, townhouse

Tuesday, November 15, 2016   /   by Matthew Biggers

How the Largest Interest Rate Spike Since 2013 Affects Homebuyers and Sellers

Regardless of your opinions about the campaign trail, election, or its results, I’m betting most of you have own a home, have owned a home in the past, or plan to in the future. And what I want to talk about is interest rates, forecasts, and real estate buying power, and how it affects both sellers and buyer alike.
 
Higher rates lowers the price buyers can pay and sellers can sell for
I’ll cut to the chase. For every 0.5% (one-half percent) rise in mortgage interest rates, buyers purchasing power decreases 4-5%, and if it spikes by a full 1% it results in a 9-11% decrease in buyers purchasing power.
 
Now before you freak out, know that in the grand scheme of things 0.5% is a blip on the radar, granted a costly one if you want to buy a nice home or sell your home to the widest pool of buyers. But when you couple this rise with the fact that the only reason the Federal Reserve postponed rate rises to far was because of BREXIT and that the Fed shows ...

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  brexit, buyers, condo, election, federal reserve, forecast, homes, interest rate, mortgage, rates, real estate, realtor, sellers, townhome, townhouse

The Sterling Real Estate Team
3650 Habersham Rd NW
Atlanta, GA 30305
404-808-3003

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