In many southern and western states, it's extremely rare to find a single-family home without Homeowners associations (HOA).Homeowners may face unexpected financial burdens from property-related fees and penalties.
Unresponsive HOAs can lead to legal actions, such as putting a lien on a home and garnishing wages.
The "singles tax" refers to additional costs faced by single individuals when living alone.
A report shows that singles living alone in 1-bedroom homes can spend up to $7K more than couples splitting the cost.
To manage solo living, singles must set a budget, typically allocating 30% to 33% of their income for housing and related expenses.
Instead, they typically move up and down with 10-year Treasury yields, because mortgage rates are largely impacted by investor demand. "Fixed mortgage rates are typically set based on the yield of …
Decatur, Il: 77
Ponca City, OK: 80.4
Augusta-Aiken, GA.-SC: 82.8
Anniston-Calhoun County, AL: 83
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.
Goldman Sachs' 5-Year Housing Forecast from 2023 to 2027
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.
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.
Compare Current Mortgage Rates in December 2023
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.
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!
Columbus
Avg price in Nov: $216K
Median listing price: $195K
Gainesville
Avg price in Nov: $553K
Median listing price: $317K
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
