What is the latest data on housing characteristics in Cobb County?

The 2022 5-year American Community Survey provides data on housing in Cobb County. The county has 308,949 housing units, with 291,171 occupied. The vacancy rate for homeowners is 1%, while for rentals it's 4.6%. 66.5% of units are owner-occupied, and 33.5% are renter-occupied. The survey also includes information on home values and rental rates. The ACS is an ongoing demographic survey conducted by the United States Census Bureau, providing detailed data on various topics for informed decision-making.

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What Is A Mortgage?

What Is A Mortgage?

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Happy New Year!

Original post here: Happy New Year!

Goldman Sachs’ 5-Year Housing Forecast from 2023 to 2027

Goldman Sachs' 5-Year Housing Forecast from 2023 to 2027

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Georgia Defies Housing Shortage With Innovative Approaches

Home affordability lags in Georgia because of too little supply.
Georgia new home construction remained 30% below 2005's peak.
Addressing the crisis demands innovation in home construction methods, materials, and strategies.

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Georgia’s Housing Markets: Top Cities With Surging Prices

Skidaway Island leads with a $844,865 typical home value, ↑ 9.9% yearly.
Tybee Island follows closely with a $680,178 typical home value, showing a ↑ 10.0%.
Milton boasts a typical home value of $866,982, witnessing a ↑ 5.2% yearly.

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Compare Current Mortgage Rates in December 2023

Compare Current Mortgage Rates in December 2023

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Can I Qualify as a First-Time Homebuyer Again?

The main criteria for first-time homebuyer status include not owning a principal residence for 3-yr.
Other Eligibility Criteria
Single parents with past joint ownership
Displaced homemakers
Previous ownership of detached homes, non-compliant homes, or homes not permanently attached can also count.

Original post here: Can I Qualify as a First-Time Homebuyer Again?

Happy Holidays

The middle of winter has long been a time of celebration around the world.
Many peoples rejoiced during the winter solstice, when the worst of the winter was behind them, and they could look forward to longer days and extended hours of sunlight.Popular modern customs include gift-giving and the display of various holiday decorations.Here's wishing you Happy Holidays! May the good times and treasures of the present become the golden memories of tomorrow. We hope you have a safe and relaxing holiday season.Happy Holidays!

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Average and Median Prices Across Georgia

Columbus
Avg price in Nov: $216K
Median listing price: $195K
Gainesville
Avg price in Nov: $553K
Median listing price: $317K

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Mastering the Market With VA Loans: Essential Tips for Success

VA loans offer benefits like no down payment, no private mortgage insurance, and competitive interest rates.
Eligibility requirements for VA loans vary and are specific to veterans and active-duty military personnel.
VA loans can only be used for primary residences, subject to minimum property requirements.

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Georgia Housing Forecast 2024

Georgia housing market is expected to be a favorable environment for both buyers and sellers in 2024. The housing market in Georgia is expected to continue its growth trajectory into 2024.
Thomaston, Toccoa, Cedartown, Cornelia, and others are expected to experience significant increases in home prices by October 2024.

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What’s the Minimum Credit Score To Buy a House?

The minimum credit score needed to buy a house can be as low as 580 for some loans, but a score of 620 or higher is generally required. Different loan types have different credit score requirements. FHA loans accept scores as low as 500 with a 10% down payment, while conventional loans typically require a minimum score of 620. Other factors, such as your overall debts and down payment size, also play a role in mortgage eligibility. It's important to maintain a good credit history, pay bills on time, and reduce debt to improve your chances of getting a mortgage.

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Georgia Contemplates Rent Control Solutions

Georgia lawmakers discuss rent control amid statewide housing cost challenges.
A state representative highlights 37 states with existing rent control measures.
Legislators emphasize the widespread impact on working-class and middle-class residents.

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Cost of Living in Georgia

Georgia is ranked as one of the most affordable states in the United States, with a Cost of Living Index of 88.8.
Key cost elements and their respective index scores in Georgia are as follows:
Groceries: 95.9
Housing: 74.4 (4th lowest in the nation)
Utilities: 90.5
Transportation: 92.6 (among the lowest in the country)
Health: 96.7
Miscellaneous: 97.1

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What is a first mortgage?

A first mortgage is the primary loan used to buy a home, giving the lender the first claim on the property in case of foreclosure. It is easier to qualify for than a riskier second mortgage. First mortgages are typically used to finance the purchase of a home, with the lender having priority over any second mortgages. Second mortgages have higher interest rates and usually don't require private mortgage insurance. The interest on a first mortgage can be deducted at tax time, while a home equity loan or HELOC can only be deducted if used for home improvement or repair.

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Real Estate Experts Share Their Predictions for the 2024 Housing Market: Will Prices Finally Drop?

Real estate experts predict that in 2024, buyers who left the market due to high interest rates will re-enter, interest rates will eventually fall, it will be a good market for foreign buyers, inventory will increase, and the luxury market will continue to thrive. Additionally, prices may dip but will likely go up again, and fixer-uppers may become more attractive to buyers compared to turnkey properties.

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Which East Coast State Is the Best to Live In?

Charleston, SC:

A growing East Coast city with beautiful beaches, evolving job market, and considerations for crime rates.
Savannah, GA:

The oldest city in Georgia, known for its historical charm, below-avg home prices, and a job market dominated by various industries.

Original post here: Which East Coast State Is the Best to Live In?

Buy Now, Refi Later: Most Homebuyers Plan on Refinancing

82% of recent homebuyers were assured they could buy now and refinance later, according to a new survey.
84% plan on refinancing to a lower rate in the future.
43% are waiting for rates to drop between 5.5% and 6% to refinance.

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Georgia’s Tax Credit Review Panel Focuses on Housing

Witnesses testify in Columbus on the importance of Georgia's low-income housing and historic rehabilitation tax credits.
The Joint Tax Credit Review Panel examines various tax incentives in the state, aiming to assess their impact on Georgia's economy.The Georgia Department of Community Affairs highlights the crucial role of the state's low-income housing tax credit in financing affordable housing units.

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Georgia Ranks 6th in Property Investment Interest

A recent research based on Google search data determined which states are most interested in investing in property.
Georgia ranks 6th in property investment interest, with 97 monthly searches/100K people.This data reflects the state's significant interest in property investment, showcasing its position among the top 10 states.

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