Metro Atlanta Is NOT Full … Yet.

As realtors in Metro Atlanta, we’ve heard the running joke more than once: '“Atlanta is full”. More recently, we’ve been hearing “Atlanta is full FULL”. Although Metro Atlanta is not technically full (or even close to population capacity), according to the U.S. Census Bureau, “the Atlanta urban area had its population adjusted to 5.1 million residents from 4.9 million residents”.*

This brings up a critical issue in the Metro Atlanta area: finding suitable housing in a highly popular and populated landscape. Rents in the area continue to climb, stricter rental regulations have become pervasive, and the eligibility criteria for many rental units has become more challenging for prospective renters. The population growth and challenging rental market have combined to create an extremely competitive, and oftentimes inflexible, rental market. Property managers, investors, and landlords have a substantial pool of prospective renters to choose from and the influx of out of state transplants with deep pockets continue to help solidify Metro Atlanta as a consistently desirable rental market. While this causes a challenge for residents, it is also an area of opportunity for renters and others looking to begin their homeownership journey. In addition, there is a unique opportunity for those interested in multigenerational housing or pooled investment purchases.

While your buying power is not as strong as during with -the height of the pandemic, many areas within Metro Atlanta are experiencing less competition for homes, an increase in sellers willing to contribute to buyers’ costs, and a proliferation of programs designed to offset some of the increases in interest rates. In addition, we are noticing an increase in interest from buyers willing to pool resources in order to mitigate the costs of homeownership and novice investors interested in buy and hold opportunities. This market presents a multitude of opportunities for those willing to be flexible, innovative, and creative. Thus, Metro Atlanta is not full …yet.

*Source: Associated Press, September 12, 2023

Your Weekday Time-Saving Hacks

As schoolage children around the country don new gear and pose for the iconic "First Day of School" photos and adults wax nostalgic about summer vacation memories, it’s time to get back into the swing of a routine. From the fall through the spring, there is a high premium placed on conserving resources and saving time. Although the old adage is that "there are no shortcuts in life", there are life hacks that will help you adhere to your schedule, spend more quality time with your family, and reduce the time you spend on repetitive tasks. Here are some great weekday life hacks that will keep you on track:

1. Prep your wardrobe so you can forget about it. On Sunday night, have the family choose clothing for the week ahead. If you have children, get them excited by letting them put on a fashion show and choose their favorite accessories. Consider purchasing clear bins for each day of the week and labeling the bins. Each day's outfit can be placed in the bin, making it easier to simply select that day's outfit. For the adults, clear a small space in the front of your closet and hang your selected outfits. An easy way to separate each day is by placing a different colored hanger in between to signal a new day.

2. Don't let lunch be a chore. When you are in a rush, you are more liable to end up buying lunch or dinner or throwing together a quick meal that may not meet your needs. Place a set of clear bins packed with non-perishable snacks and drinks, such as drink boxes and water bottles, granola bars, chips, fruit cups, and other snacks. These easy-access meal items will help you create a packed lunch quickly and help you identify when you are running low on items. On Sunday night, add fresh fruit and veggies to wax paper or plastic sandwich bags for the entire week. Instead of sandwiches, consider crackers or pita slices and the fillings of your choice in separate containers; the ingredients stay fresh and everyone can grab and go each day. For salads, put fresh greens in a separate container and separate ingredients into smaller containers.

3. It's on the calendar. Managing multiple schedules can be a challenge, particularly with children participating in extracurricular and school activities. Put an oversized calendar in the kitchen and color code based on each family member. Once you receive a calendar of activities, add it to the shared calendar. If the whole family is tied to technology, use the family version of the Google calendar to keep everyone up to date.

While things can get frenetic during the weekday, these time-saving hacks can help you shave time from your day and avoid the frantic daily rush. While we cannot avoid the last-minute surprises, spending some time on the weekend prepping for the week ahead will save you a lot of time during the week.

I’m Interested in Buying a Home. Where Do I Start?

Can I afford it? My credit is not perfect. Don’t I need to put 20% down? These are only some of the questions and comments we have heard time and again from prospective buyers. You are not alone in questioning whether you can transition from renter to homeowner. Purchasing a home is one of the most significant investments you can make within your life. It allows you to put down roots, customize and design an environment to meet your needs, and in many cases, can include tax and investment savings. While many of our parents and grandparents were able to achieve the dream of homeownership through dedication, hard work, and perseverance, you may be pondering if, and how, you will become a homeowner yourself.

The good news: you may be closer to homeownership than you think. There are many paths to owning a home and you don't have to be perfect. There are a variety of products that your lender can offer that can meet your needs based on a variety of factors—from creditworthiness to income. Your lender may have programs aimed at down payment assistance/low down payments, those with credit blemishes, and those in certain professions, among other factors. Your first step is to determine where you stand in the process by contacting your preferred lender (or contacting a realtor for recommendations for preferred lenders). The mortgage specialist can explain your options and can help you determine if there are further steps you will need to take to position you as an ideal prospective buyer. Once you have been pre-approved for a loan, it's time to contact your realtor to guide you through the homebuying process.

The homebuying process is within reach. The most important step you can take to achieve homeownership is the first step. Contact us with any questions you have. Take your first steps toward your dream home.