Are You Putting Money Into Your Home?

There are many ways to put money into your home, and just as many opinions as to which is the best.

  • Stashing cash under the mattress or hiding it in the walls may be a safe place but not a very good investment, except when other investments are loosing value.
  • Paying extra on the mortgage each month is generally considered a good idea as it reduces the amount of interest paid and shortens the term of the loan.
  • Regularly maintaining the property is always recommended to avoid more expensive repairs later.
  • Making updates and improvements to kitchens and baths means living in more enjoyable surroundings and improves the marketability when the time comes to sell.

Here’s another way to put money into your home. The image of a foundation cement block wall offers a clue and a novel idea for monitoring a foundation for settling. Taking a photo and comparing it over time to the future condition will help gauge any changes and whether foundation repair is in order.

In the absence of a measuring tape one or more coins can be used and may even be a more accurate way to assess the condition. In this picture the crack is the width of about 4 dimes. Great idea, right?

Cautionary note…use pennies instead of higher value coins as under estimating the number of coins needed to plug the gap may result in the coins slipping inside and thereby unintentionally “putting money into your home” that may never be seen again. Sort of like playing the Vegas slots.

If you don’t trust your judgment or like the odds then head back into the garage and locate a tape measure.

Walton High School Housing Market Performance

The monthly Walton High School real estate stats I publish to my website takes almost a full day as the data is not readily available from the MLS system and due to the time involved in updating the charts and preparing and uploading the images. The fun part begins when the work is completed; i.e., comparing and contrasting what has transpired relative to other areas, schools, price ranges and over time.

The featured image above (and fully labeled below) depicts the percentage change in the resale (excludes new construction) average sales price over the last four years of detached homes (excludes condos, town homes, land, and lots) in the Walton High School district versus the four major metro Atlanta counties of Dekalb, Fulton, Gwinnett and Cobb (excluding Walton High School). Which line represents Walton? Think school colors. Continue reading “Walton High School Housing Market Performance”

Where Is The Local Market Headed?

Your view of the market is likely influenced by personal experience buying or selling, conversations with friends going through the process, media news reports and/or hearsay.

Proclamations I often hear include:

  • There is a shortage of homes for sale, and it is getting worse
  • It is a seller’s market…no better time to sell
  • The luxury market is suffering
  • Prices have been driven too high too fast…a shift is coming

It is important to keep in mind that the real estate market is both location and price sensitive. With that said, what do these year-over-year charts have to say about the resale market for Walton High School homes in East Side, Mt Bethel, Sope Creek and Timber Ridge Elementary Schools priced in the $7 and $8 hundreds?

Walton 10 Yr July Resales $700s

Walton 10 Yr July Resales $800s

First, the numbers are relatively small as defined by this criteria and therefore challenging to accurately forecast a trend. With that said, the activity appears fairly consistent with 2008 and 2009 being the exceptions as explained by the housing market recession being in fully involved at that time. I believe the Walton High School portion of East Cobb is a bit buffered from the national and metro trends.

I’m often asked, “When is the best time to sell?” It seems the inquirer is looking for a seasonal answer; i.e., spring, summer, etc. In my opinion the best time to sell is when you are ready. And when you are ready please give us a call to schedule a conversation so that we can accurately assess your home given its condition relative to recent sales and pending listings that are deemed similar. Don’t rely solely on the county assessed value, online valuations like Zestimate, or the price of the house next door.

Be sure to visit our Miller Group Realty website for additional micro market stats for our core area and price range.