Will the Georgia Housing Market Crash?

No signs of imminent market crash in Georgia; local data doesn't support rumors.
A robust economy with diverse industries fuels housing market strength.

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How long does a mortgage pre-approval last?

Lenders provide a pre-approval letter for a mortgage, indicating the loan type and amount you're eligible for. It's crucial to apply before house hunting to understand your budget and act quickly when making an offer. Pre-approval lasts 30 to 90 days, and the process involves choosing lenders, gathering financial documents, and waiting for a response. Following dos and don'ts can improve your chances of approval.

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2024 Home & Design Show: Navigating Mortgage Rates Amidst Inflation

The 2024 Home & Design Show addresses concerns about inflation's impact on mortgage rates, offering insights on navigating the real estate market. Attendees can explore trends in home products and receive guidance from financial experts on securing the best mortgage rates in the current economic climate.

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Happy Women’s Day

International Women's Day, also known as IWD for short, grew out of the labour movement to become a recognized annual event by the UN.It all started in 1908 when 15K women marched through NYC demanding shorter working hours, better pay and the right to vote.
Things were made official in 1975 when the United Nations started celebrating the day.
International Women's Day has become a date to celebrate how far women have come in society, in politics and economics.
While the political roots of the day mean, strikes and protests are organized to raise awareness of continued inequality.

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Navigating Georgia’s Home Building Costs

Building a home in Georgia averages $136/sq ft, ranging $100K-$400K+, depending on factors.
DIY home building is feasible in Georgia, involving land purchase, permits, construction, and community help.

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Georgia House Passes Tax Relief Package

The Georgia House unanimously approves tax relief measures with a significant impact on housing.
Measures include an accelerated state income tax cut and doubling of the homestead tax exemption, aiming to alleviate housing costs.

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Most Affordable States in 2024: Georgia

Georgia ranks as the 5th most affordable state in the U.S. with a Cost of Living Index of 88.8.Housing costs are notably low, 4th lowest in the nation, making homeownership accessible.

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Unlocking Georgia’s Real Estate Potential

Investment Opportunities: Georgia's Real Estate market offers diverse investment options with potential for growth.Dream Home Destination: Find your dream home in Georgia's dynamic housing market.

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Is Georgia a Buyer’s or Seller’s Market?

The Georgia housing market in 2024 is poised to benefit both sellers and buyers.
The supply-demand dynamic is expected to drive continued increases in home prices until a shift occurs.
A notable shift is observed in the market as new listings rose following a mortgage rate drop from a 2-decade high of 8%.

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Georgia Awards $9 Million in Rural Housing Grants

$9M is awarded to support over 400 housing units in 4 rural communities.
The program aims to boost critically needed workforce housing in Georgia.

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Mortgage Interest Rate Forecast for Next 10 Years

Mortgage interest rates are influenced by factors such as the Federal Reserve's policies, inflation, economic growth, and market forces. Experts have varying predictions for the next 10 years, with some expecting rates to rise significantly and others expecting a moderate decline. Most agree that rates will remain elevated in the short term due to inflationary pressures and Fed tightening, before declining in the long term due to economic slowdown and market correction.

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The Most Affordable Counties for Owning a Home

Wayne County, MI
Avg local wages needed to own: 19%
Montgomery County, AL
Avg local wages needed to own: 21%

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Lawmakers Consider Limiting Property Taxes in Georgia

Rising home values prompt Georgia lawmakers to propose a 3% cap on annual increases in assessed values.
House Speaker suggests doubling homestead tax exemption, aiming to reduce statewide tax bills by ~$100M.

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What current mortgage refinance rates mean for your situation

Mortgage refinance rates are influenced by various factors, including monetary policy, market conditions, and personal credit scores. Current rates are higher than in previous years, making refinancing less appealing. However, it may still be beneficial for certain situations. Understanding the different types of refinancing and their associated costs is important. The process involves steps similar to obtaining a new home loan, and maintaining good credit is crucial. It's advisable to compare rates and terms from different lenders before submitting a formal application.

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Tips to Save for Buying a House While Renting

Cut discretionary spending on luxuries like streaming services or coffee to save for a down payment.
Secure a dedicated savings account to track progress and avoid unnecessary expenses when saving for a down payment.
To save money, review debts, consider balance transfers for high-interest cards, and maintain a low debt-to-income ratio.

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What’s the Difference Between Being Prequalified and Preapproved for a Mortgage?

Buying a home can be intimidating, especially in a hot housing market. Before starting to shop for a home, it's important to know how much you can afford. Prequalification is a quick and easy process, while preapproval is more formal and involves submitting documentation. Preapproval provides a more detailed estimate of your homebuying budget and signals to sellers that you are committed to buying.

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New Home Financing: Should You Use a Builder’s Preferred Lender? | Mortgages and Advice | U.S. News

Homebuilders may offer incentives through preferred lenders, but these may come with higher fees and interest rates. Buyers are not obligated to use the builder's lender and should compare offers from multiple mortgage lenders. It's important to carefully review loan estimates and consider the pros and cons of using the builder's lender.

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Home Price Growth by August 2024: Georgia Cities

The home prices in Thomaston are expected to ↑ 0.4%
Toccoa is expected to see ↑ 0.6% in home prices.

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Which Georgia City Has Potential Price Declines in 2024?

The Market Risk Index (MRI) identifies cities most at risk of price declines.5 US cities may face a 70% risk of declining house prices in 2024.

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Happy Valentine’s Day

Valentine’s Day occurs every February 14 around the world, and candy, flowers and gifts are exchanged between loved ones, all in the name of St. Valentine
Valentine greetings were popular as far back as the Middle Ages, though written Valentine’s didn’t begin to appear until after 1400.
By the middle of the 18th, it was common for friends and lovers of all social classes to exchange small tokens of affection or handwritten notes.
Many people celebrate their love for their partner by sending cards or letters, giving gifts or flowers and arranging meals.
May this Valentine’s Day get you some time to spend with your loved ones.
Wishing you loads of love and happiness on this day. Happy Valentine’s Day!

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Want to Buy a Home in 2024? Here Are 4 Ways to Help Make It Happen

Assess your finances before buying a home, save money, and consider different mortgage types. Make sure your credit score, debt, and income are in good shape. Be prepared for the costs of buying and owning a home. Research different mortgage lenders and apply for pre-approvals to find the best rate. Consider high-yield savings accounts as an alternative to CDs for earning better yields on your savings.

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How to Apply for Low-Income Housing in Georgia?

Georgia's Department of Community Affairs (DCA) offers Section 8, providing rental assistance, enabling low-income individuals to find suitable housing.Application methods:
1. Applying for low income housing online through the DCA Applicant Portal
2. Applying in person at your local housing authority

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Happy Lunar New Year

恭喜發財. Wishing you prosperity.
Lunar New Year, is the most important celebration observed in China, with cultural and historic significance.The New Year celebration is centered around removing the bad and the old, and welcoming the new and the good.
Traditional activities include reunion dinner, cleaning houses, visiting family members, setting off firecrackers and fireworks, and doing some religious practices.
May the New Year bring many good things and rich blessings to you and all those you love!

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5 Cheapest Cities to Live in Georgia in 2024

Dalton offers an exceptionally affordable living experience with significantly lower housing costs.
Cartersville features lower housing costs and a relatively economical overall cost of living compared to the state median.

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Does Georgia State Law Favor the Tenant or the Landlord?

Georgia's laws aim for fairness but lean landlord-friendly, impacting both tenants and landlords.
Rental applications follow the typical US structure, with processing fees ~$50; however, there's no legal limit.

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