What Would Make You Sell Your House?

There are many reasons why a homeowner decides to sell their house and move. The latest Generational Trends Report from the National Association of Realtors asked recent home sellers to share their reason for moving.


The younger the respondents, the more likely their top response centered around needing a larger home (ages 29 to 53). Relocating for a job was the top reason for those ages 54 to 63 and the second most popular response for those under 53. The chart below shows the breakdown for these two reasons.

For homeowners over the age of 64, wanting to be closer to friends and family served as the top motivator to move. Downsizing to a smaller home or moving due to retirement came in as a close second and third.

Have you outgrown your current house? Are you a homeowner who can relate to wanting to be closer to family and friends? Is your house becoming a burden to clean now that the kids have moved out?

Bottom Line

Contact a local real estate professional who can help set you on the path to selling your current house and finding the home that fits your needs, today!

How Quickly Can You Save Your Down Payment?

Saving for a down payment is often the biggest hurdle for a first-time homebuyer. Depending on where you live, median income, median rents, and home prices all vary. So, we set out to find out how long it would take to save for a down payment in each state.


Using data from HUD, Census and Apartment List, we determined how long it would take, nationwide, for a first-time buyer to save enough money for a down payment on their dream home. There is a long-standing ‘rule’ that a household should not pay more than 28% of their income on their monthly housing expense.



By determining the percentage of income spent renting in each state, and the amount needed for a 10% down payment, we were able to establish how long (in years) it would take for an average resident to save enough money to buy a home of their own.


According to the data, residents in Kansas can save for a down payment the quickest, doing so in just over 1 year (1.12). Below is a map that was created using the data for each state:

What if you only needed to save 3%?

What if you were able to take advantage of one of Freddie Mac’s or Fannie Mae’s 3%-down programs? Suddenly, saving for a down payment no longer takes 2 to 5 years, but becomes possible in less than a year in most states, as shown on the map below.

Bottom Line

Whether you have just begun to save for a down payment or have been saving for years, you may be closer to your dream home than you think! Meet with a local real estate professional who can help you evaluate your ability to buy today.

What Can Smart Switches and Light Plugs Do For Your Home?

“Siri, how much water did I drink today?”
“Alexa, what’s on TV tonight?”
“Google, turn off the lights!”

You know the drill. We’re all starting to talk to ourselves under the guise of speaking to our smart speakers and voice assistants. There’s nothing at all wrong with this, but it’s a future no one could have conceived even a decade ago. Smart speakers were cool for creating grocery lists, but that’s just a fraction of what they’re capable of now.

Your computer friends can control your lights and outlets from anywhere now. How cool is that?

The Power of Smart Switches and Plugs

Smart switches and plugs are among the most underrated components of a smart home. In fact, they’re a cheap way to get into the smart home world if your home wasn’t built with this type of equipment in mind.

They’re simple to install and essentially disappear after a few days. After all, they’re just boring plugs and switches, right?

Well… that’s one way to look at it. But, then again, how long do you go in a day without interacting with an outlet or a switch? Are you using either right now?

Behold the Handy, Hidden Household Helpers

If you really think about it, you use outlets and switches all the time for a wide range of reasons. Smart switches and smart plugs are no different, they’re a frequent touch item in your home. But they’re so much more than power regulators. Smart switches and plugs can do things for your household like:

• Making mornings tolerable. Most people have heard of the coffee pot that’s powered using a smart outlet. You fill it up at night, then your programmed smart outlet switches on in the morning and starts the coffee cycle. It’s a popular trope, but it’s also a real thing… so you have that to look forward to.
• Proving peace of mind. Whether you’re across town or across the state, it’s not a great idea to advertise that you’re not home at night. Your smart switches and plugs can be programmed to flip on and off at different times to make it appear that you’re just hanging around the house.
• Conserving resources. Believe it or not, a lot of homeowners find that they save a lot of energy with smart plugs. The better units have use reporting built in, all you have to do is check your app to see which ones are using up the most juice. Create a schedule for those plugs, then check your usage again in a few months. Adjust the whole thing as necessary.
• Creating a safer indoor environment. Are you the kind of person who doesn’t like to walk into a dark house, even when it’s yours? Then smart switches and outlets should definitely be on your shopping list. You can turn all the lights in the house on when you pull into your subdivision or driveway, making it clear that you’re home, in case any ghouls (or burglars) happen to be lurking.
• Assisting people with handicaps. You may not need the help now, but even a debilitating sports injury can be enough to make you want to scream when you forget to turn a light on or off and are already across the room. For people who are permanently disabled, that’s an every day event. Today with the help of Siri, Alexa and Google Home Assistant, all anyone needs to do is shout, “Siri, turn off the kitchen lights!” and it’s a done deal.

Those little almost-invisible switches and outlets are pretty busy, looks like. They’re also an inexpensive way to jumpstart your smart home transformation. For example, if you wanted a way to turn your bedroom’s ceiling fan light off at night, you would save a bundle to install a smart switch versus using smart light bulbs and the switch won’t burn out any time soon, so bonus!

Ready to Make a Move Toward a Smarter Home?

Even if you have an older home, you can start transforming it into a smart home with switches and outlets. Every home and family will have different needs that a smart home can service, but due to the dizzying array of equipment out there, it can help to speak to a home pro about your plans.

Renters Paying Substantially More While Owning Costs Less

In a recent Insights Blog, CoreLogic reported that rent prices have skyrocketed since 2005. Meanwhile, the typical mortgage payment has actually decreased.

“CoreLogic’s national rent index was up 36% in December 2018 compared with December 2005, while the typical mortgage payment was down 4% over that period.”

Why the difference between the costs of renting versus owning?

It makes sense that rents have risen. However, how did mortgage payments decrease? CoreLogic explained:

“It’s mainly because mortgage rates back in December 2005 were significantly higher, averaging 6.3% for a fixed-rate 30-year loan, compared with 4.6% in December 2018.
The national median sale price in December 2005 – $190,000 – was lower than the $220,305 median in December 2018, but because of higher mortgage rates in 2005 the typical monthly mortgage payment was slightly higher back then – $941 – compared with $904 in December 2018.”

Additionally, a recent report by the National Association of Realtors (NAR) showed that purchasing a home requires less of your monthly paycheck.
According to the Economists’ Outlook Blog, NAR’s February 2019 Housing Affordability Index showed that the “percentage of income needed” to pay the typical mortgage has decreased the last three months.

• November – 17.3%
• December – 16.9%
• January – 16.2%
• February – 15.9%

Bottom Line

What does this all mean to the current housing market? We think First American said it best in a post last week:

“The mortgage rate-driven affordability surge has arrived just in time… Rising affordability has already benefited home buyers and, if the lower rate environment persists, we’re in for a great spring home-buying season.”

New Study Reveals One Surprising Reason for the Inventory Shortage

There has been a great amount written on millennials and their impact on the housing market. However, the headlines often contradict each other. Some claim this generation is becoming the largest share of first-time home buyers, while others claim millennials don’t want to own a home, blaming them for the dip in homeownership rate.


While it is true that millennials have achieved milestones like getting married, having kids, and buying homes later in life than their parents and grandparents did, they are not solely to blame for today’s housing market trends.

Freddie Mac’s Insight Report explored the impact of the Silent and Baby Boomer Generations on the housing market.

If millennials are unable to find a home to buy at a young age like their predecessors, then who is living in those homes?

The answer: Seniors born after 1931 are staying in their homes longer than previous generations, instead choosing to “age in place.”
Freddie Mac found that,

“this trend accounts for about 1.6 million houses held back from the market through 2018, representing about one year’s typical supply of new construction, or more than half of the current shortfall of 2.5 million housing units estimated in December’s Insight.
Older Americans prefer to age in place because they are satisfied with their communities, their homes, and their quality of life.”

According to the National Association of Realtors, inventory of homes for sale is currently at a 3.5-month supply, which means that nationally we are in a seller’s market. A ‘normal’ housing market requires 6-7 months inventory, a level we have not achieved since August 2012.

“The most important fundamental in today’s housing market is the lack of houses for sale. This shortage has been identified as an important barrier to young adults buying their first homes.”

Bottom Line

If you are one of the many seniors who desires to retire in the same area you’ve always lived, you’re not alone. Will your current house fit your needs throughout retirement? If you have any questions about demand for your house, meet with a local real estate professional who can show you the opportunities available today!

From Alpharetta, Buckheadand Midtown to Downtown, East Atlanta and beyond, when it comes to buying a home, now more than ever, it's not just about a pretty porch, a beautiful a view or convenient commute to work. It's about all of the above and more. And the best part is these days you can have it all. In Midtown alone, there are so many charming neighborhoods, and some you may not even know about. From Virginia Highlands and Atlantic Station to Morningside.

Check it out, give me a call, or send me a text or email. Are you ready to have the lifestyle you've been dreaming of? 

timgrissett.com

Selling Your House: Here’s Why You Need A Pro In Your Corner!

With home prices on the rise and buyer demand still strong, some sellers may be tempted to try to sell their homes on their own rather than using the services of a real estate professional.

Real estate agents are trained and experienced in negotiation while, in most cases, the seller is not. Sellers must realize that their ability to negotiate will determine whether or not they get the best deal for themselves and their families.

Here is a list of just some of the people with whom the seller must be prepared to negotiate with if they decide to For Sale by Owner (FSBO):

• The buyer, who wants the best deal possible
• The buyer’s agent, who solely represents the best interests of the buyer
• The buyer’s attorney (in some parts of the country)
• The home inspection companies, which work for the buyer and will almost always find some problems with the house
• The termite company, if there are challenges
• The buyer’s lender, if the structure of the mortgage requires the sellers’ participation
• The appraiser, if there is a question of value
• The title company, if there are challenges with certificates of occupancy (CO) or other permits
• The town or municipality, if you need to get the CO permits mentioned above
• The buyer’s buyer, in case there are challenges with the house your buyer is selling

Bottom Line

The percentage of sellers who have hired real estate agents to sell their homes has increased steadily over the last 20 years. Meet with a professional in your local market to see the difference that he or she can make for you during the selling process.

5 Reasons Why Millennials Buy a Home

Some Highlights:

• “The majority of millennials said they consider owning a home more sensible than renting for both financial and lifestyle reasons — including control of living space, flexibility in future decisions, privacy and security, and living in a nice home.”
• The top reason millennials choose to buy is to have control over their living space, at 93%.
• Many millennials who rent a home or apartment prior to buying their own homes dream of the day when they will be able to paint the walls whatever color they’d like or renovate an outdated part of their living space.

Buyer Demand Surging as Spring Market Begins

Last fall, some predicted that the 2019 residential real estate market would be a disaster. There was even belief we might experience a housing crash like the one that occurred during the last decade.


However, according to two separate reports*, buyer demand dramatically increased over the last three months, leading into this spring buyers’ market (the March data is not yet available).


Both the ShowingTime Showing Index and the National Association of REALTORS Buyer Traffic Index show that buyer demand has increased in each of the last three months.

Why the increase in demand? Increased buying power.

According to the National Association of Realtors’ Economists’ Outlook Blog, purchasing a home has become more affordable, which has led to increased demand.

“Due to the combination of falling home prices and mortgage rates, the income needed to make an affordable mortgage payment (mortgage no more than 25% of income) on a median-priced home with 10% down payment and 30-year fixed rate mortgage decreased from $60,425 in June 2018 to $53,783 as of February 2019, and the difference of $6,642 represents a gain in buying power because one can afford a home purchase at a lower level of income.”

Bottom Line

It appears the spring buyers’ market is going to be much stronger than many had projected. Whether you are selling or buying, this is important news.

*The methodology behind the indices:

The ShowingTime Showing Index

“The ShowingTime Showing Index® tracks the average number of buyer showings on active residential properties on a monthly basis, a highly reliable leading indicator of current and future demand trends.”

The National Association of REALTORS® Buyer Traffic Index

“In a monthly survey of REALTORS®, NAR asks respondents ‘Compared to the same month last year, how would you rate the past month’s traffic in neighborhood(s) or area(s) where you make most of your sales?’ NAR compiles the responses into an index, where an index above 50 indicates that more respondents reported “stronger” traffic than “weaker” traffic.”

6 Air Purifying House Plants

Actually Cool Things to Do When Someone Visits ATL

Atlanta is overwhelming when you have to be someone’s tour guide -- especially nowadays with all this energy, development, and international recognition we’ve got going on. ATL’s got Donald Glover, Killer Mike, Migos and other rappers continuing to keep the hype alive, along with the movie business coming to town, AND real reasons to actually believe in at least one sports team every year.

 

There’s just so damn much to do! So what should you be showing off to other people right now, or what should you show your ATL host when you come to town demanding the grand experience? First, grab something to eat and something to drink. Then consult this handy guide, of course. 

 

 

Drink local beer on the BeltLine

$
Old Fourth Ward, West End
You’ve got two solid choices today: New Realm on the Eastside Trail and Monday Night Garage on the Southwest side. Both are highly respected and have award-winning brewers and beers, and both are great places to people-watch, whether you’re rooftopping it with a New Realm Hoplandia IPA, or balcony-peering from the Garage with a Rucksack summer seasonal Hefeweizen.

 

Watch Atlanta United dominate the field

$-$$
Mercedes-Benz Stadium
Atlanta United is the defending MLS Cup champs and hottest thing in US soccer. No other MLS team can say it had a home game during the World Cup and more people attended it than two simultaneous matches in Russia. ATL UTD will have home games all the way through October 6.

 

Be in a movie

Free
Everywhere
Those tax incentives Georgia created for the film industry must be really nice, because you can’t walk down the street anymore without seeing a production crew shooting something. “Y’allywood” is booming, and that means you have a shot at fame and fortune, or at least a check to help with gas, craft services, and wrap party invites. You don’t even have to go hunting and dealing with bogus agencies; the Georgia Department of Economic Development has a list of credible casting companies that hire extras as well as crew members if that’s your thing.

 

Blues yourself at Northside Tavern

$
West Midtown
That storied little building sitting just south of White Provisions -- among Howell Mill’s cute and trendy shops and eateries -- is pretty much the holy grail of the Atlanta blues music. Local bluesman Mudcat still plays and books outside bands, the bartender still breathes fire, and the pool table still has all sorts of questionable stains. It gets no grittier. (RIP to owner Ellyn Webb; she’d be proud to know the show goes on).

Find your own nook near the Chattahoochee River

Free
Various
Atlanta’s original Hoochee-Mama is the river that runs through it, and while there are definitely a few parts of the river you’d probably want to avoid, there are places above and below Metro Atlanta with great views, hiking trails, and hangout capabilities, whether you’re in Newnan at Chattahoochee Bend State Park, or Riverside Park up in Roswell.

 

Visit Atlanta’s LBGTQA epicenter

Free
Midtown
It doesn’t even matter if you aren’t in need of a cup of Caribou Coffee, a Flying Biscuit, or feel like eating at either TEN or 10th & Piedmont. There’s something worth visiting just to say you walked across at least one of the streets at the intersection of Piedmont Avenue and 10th Street, where Outwrite, an iconic gay bookstore, once stood. If you get lost, just ask for the rainbow crosswalk.

 

Hit Downtown Decatur, where everything’s greater

Free
Decatur Square
Since you can walk right out of the MARTA train station and right into some of the area’s most fun restaurants and bars (Leon’s Full Service, Brick Store Pub, The White Bull, Kimball House, The Iberian Pig), it’s a great place to be if you’re unsure of what you should be doing on a day around Atlanta and don’t feel like thinking.

 

Take a tour of East Lake

Free
The home course of Bobby Jones will let you take a self-guided tour of the clubhouse of the all-time golfing great. They’re always on third Sundays and you can bring 15 friends or less; just email them or call 404-373-5722 for reservations. Or of course you can wait to be invited as a member to have access anytime you want… but maybe it’s best to go ahead and look around today.

Eat BBQ at B’s Cracklin’ Barbecue

$-$$
Nothing at all is wrong with Fox Bros. or all the other locally famous barbecue joints in ATL, but we’re now at a point where people are going to ask if you’ve had B’s brisket when you were in town. And though it’s taken a couple years, pitmaster/owner Bryan Furman has turned his food into a legit city landmark.

 

Go through the Krog Street Tunnel

Free
One way to find out what Atlanta’s artistic and activist community is doing at any given time is to head east on Dekalb Avenue and check out the graffiti-laced tunnel at the Krog intersection. You’ll see always-changing street art that includes social messages, as well as event flyers in mural format. And it’s all okay with the city, so nobody gets ticketed or harassed for putting a little paint on it for whatever reason.

 

 

 Do free yoga with King of Pops

Free
Piedmont Park
Not only should you exclusively be eating King of Pops all summer -- since they’re ATL-made and were the ones who started this whole craft pops wave -- but you should be getting your chakras, woo-sahs, and namastes on with them on Tuesdays through August. It’s a great example of ATL coming together for all the right reasons (yoga + popsicles).

 

Hit up the Downtown landmarks

$-$$
Just because you’re staying Downtown doesn’t mean you’re stuck in a dead zone. The area around Five Points, both above Underground Atlanta and beyond, is getting much cooler these days, especially if you’re close to Centennial Park. There’s the Center for Civil and Human Rights, the Georgia Aquarium, Der Biergarten, some great pizza spots (like Amalfi and Max’s Coal Oven), and you’re not that far from the home venues of three of ATL’s four major league sports teams.

 

Go out dancing at MJQ

$-$$
Poncey Highland
It has survived longer than a hell of a lot of beloved ATL entertainment establishments, and that’s because Atlanta still loves hip-hop and dancing. It’s underground, always hot as hell when it fills up, and is not the right place for a craft cocktail. But that takes nothing away from the fantastic night of ass-shaking you’ll experience thanks to some of our city’s best DJs.

 

Hit The Battery before a game

$$-$$$
Cumberland
The Braves (at press time) are still winning! That makes it great to be at a game inside their shiny new stadium this year. True, that traffic situation isn’t exactly the best, but once you’re there you can enjoy great food and drinks -- whether you’re inside SunTrust Park or just on the edge of it.

 

Do not miss Hip-Hop Trivia

$
Jack’s Pizza & Wings
Respected journalists and podcast hosts Branden Peters and Maurice Garland have been running a night of surprisingly not-easy rap-based trivia for years now, and the weekly event attracts some of Atlanta’s most influential people -- including Andre 3000 not too long ago. Win and you’ll get a bar tab, and you can also get a free beer if you can successfully perform whatever songs they choose for each week’s live challenge.

Visit (or stay) in Atlanta’s most notorious hotel

$-$$$
Hotel Clermont
The Georgian Terrace is obviously historic, but now that Atlanta’s most famous hotel is back, it’s hard to deny the temptation to stay in a room just above one of America’s most famous strip clubs (and Atlanta’s first), just to see for yourself if there are any ghosts roaming the newly restored building’s halls. The best part? Rooms aren’t even that expensive; you can get a night in a king bed for $179, pre-tax. But with its Astroturfed rooftop, French brasserie Tiny Lou’s and lobby bar with late-night eats, you’ll never want to leave -- at least until you see something in the Clermont Lounge that scares you worse than any ghost story you hear about the hotel’s rowdier days.

 

Learn a whole lot more about MLK

Free
The King Center
Not only does it include Dr. King’s birth home and the final resting place of he and Coretta Scott King, but you can peruse The King Center's library and archives, which has all sorts of interviews, papers and historical artifacts relating to the Atlanta native’s inspiring work for humanity.
 

 

Pay homage to the great Jimmy Carter

$
The Jimmy Carter Presidential Library and Museum
Admit it: Whether it’s you visiting Atlanta or someone else that’s staying with you, you probably haven’t been to visit in a while or ever. That’s a shame -- the man was POTUS and continues to do great things for the world! Go get a piece of that peanut history!

 

Eat some authentic soul food

$-$$
Various
You’ve gotta visit The Busy Bee Cafe, period. And Mary Mac’s is also not to be missed. But there are a lot of other extremely worthy soul food restaurants in Atlanta, from old-school neighborhood favorites like The Beautiful, to newer spots like Kandi Burruss’ Old Lady Gang, and definitely chef Deborah VanTrece’s spot Twisted Soul. Todd Richards has you covered at Richard’s Southern Fried, and… well, that should keep you busy enough for now.

 Go to one of our many great festivals

$-$$$
Atlanta
Whether you like ice cream, African-American films, BBQ, blues and bluegrass music, or finding shadefrom this damned ATL heat, there is certainly a festival for you and your friends. And it doesn’t end in fall either -- from Pride to Imagine Music Festival, the outdoor party never stops.

 

Scream your face off at Metalsome

$
Dark Horse Tavern
Your friends will curse you if you let them come to Atlanta, eat a bunch of delicious food, have fantastic drinks, enjoy all the greatness of this city and everything, but forget to take them to 10 High Club for our long-running heavy metal karaoke event. The TL;DR is this: heavy metal karaoke, but with a live band. Get there early. And get some out-of-town friends who are more appreciative too, maybe.

 

Get a lapdance

$-$$$$
Various
Look, it’s no secret Atlanta has THE best strip clubs in the world -- Magic City, Follies, Cheetah, Blue Flame, Pink Pony, Onyx… you have lots of choices (even Clermont Lounge!). And you know you’ve seen and heard the videos and songs, and felt the only thing missing was you with a stack of one dollar bills shooting from your hand automatically. So yes, you can still enjoy Atlanta’s world-famous strip clubs in class and style. No cameras though. Not now, not ever.

 

Have your "peeps" call my "peeps" for all their real estate needs! (404) 918-3772

Do's & Don't's Before Closing

Tips to ensure your mortgage closes smoothly: Credit Cards / New debt: Once you have applied for a mortgage, do not apply for new debt or credit cards, even if you do not plan to use them until after settlement. When you buy a home, you will undoubtedly buy items for that home; please wait until after you own the home! Review your credit report: Be proactive in the process by thoroughly reviewing your credit report with me at the beginning of the process and report any inaccurate or missing information so that we can address it accordingly. What is missing on your report today could show up later and derail your closing. Save everything: Save all of your bank statements, paystubs and credit card statements from time of application until closing. 

Slaying Myths About Buying A Home

Home Value Appreciation Stops Falling, Begins to Stabilize

The percentage of home price appreciation on a year-over-year basis has decreased each month for over a year. The question was how far annual appreciation would fall. It seems we may now have the answer.

In a recent post on the National Association of Realtors’ Economists’ Outlook Blog, it was revealed that Realtors are starting to sense that home values are beginning to stabilize and that we may see appreciation beginning to accelerate again:

“About 3,000 REALTORS® who responded to NAR’s February 2019 REALTORS Confidence Index Survey had more optimistic— although modest— home price growth expectations over the next 12 months. Respondents expect home prices to typically increase by 1.9 percent nationally, up from 1.4 percent in the January survey.”

The thinking that home appreciation has bottomed-out was also confirmed in two additional housing reports recently released:
CoreLogic Home Price Index – The analysts at CoreLogic increased their projection for home appreciation for the next twelve months to 4.7% as compared to the 4.6% they projected in their previous report.

The Home Price Expectation Survey – In the 2019 first quarter survey, the nationwide panel of over one hundred economists, real estate experts, and investment & market strategists increased their projection for home value growth in 2019 to 4.3% compared to the 3.8% increase they had projected in the fourth quarter of 2018.

Bottom Line

Agents working the business every day, one of the premier data companies in the real estate space, and one hundred housing experts all agree: home price appreciation has ended its decline and looks to be stabilizing… and may even accelerate.