Real Estate on the Upswing

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With the real estate market on a continued upswing, residential properties in Gwinnett are hot commodities.

Today”s Hot Properties
“Location still drives home buying decisions,” says Mark Richardson, vice president of development, Richardson Housing Group. “Now more than ever before, buyers are seeking affordable homes near quality schools with access to jobs.”

Make Your Move
Now is a great time to sell, according to Brian Sutherland, producing production manager for LoanSouth Mortgage. “We”ve seen a dramatic shift in the last year not only in the resell market but also with builders and new construction. Housing market conditions are favorable both for buyers and sellers.”

Affordability Factor
Conditions are right to buy a home. “As was the case last year, it is still cheaper to buy than rent, even though prices have stepped up over 10-percent from a year ago,” says Greg Shumate, CEO and managing partner of BrandMortgage. Since there is a shortage of inventory in the housing market, he advises buyers to be pre-approved going in, so there is a much higher chance of getting accepted over many cash buyers who still exist.

Secure Financing Early
“If you”re buying, have a letter from a lender stating you”re pre-qualified up to the offer price or they will toss it out. Also, make sure you”ve done your loan prequalification before making your offer. Many properties are getting multiple bids within hours of becoming available due to lack of inventory. Be prepared to move quickly in this environment,” says Jon Bodan, president, The Perpetual Financial Group, Inc.

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