Health & Fitness
Homes Are More Affordable Than Ever
The really bad news is that the Dacula real estate market is down 30 percent in home values over the past five years. The good news is that there has never been a better time to buy.
I just got back from the Keller Williams Realty International Convention in Orlando and the information that was provided was very encouraging as it pertains to the real estate market as a whole nationwide.
Real estate is very local (one area of Georgia can be up while another area within just a few miles could be down) as I have said in the past and while some areas are seeing growth there are still others that have not started to turn the corner. Dacula and Hamilton Mill is kind of in the middle of all this. Our local market while busy with sales, is considerably down price wise.
The really bad news is that the Dacula real estate market is down 30 percent in home values over the past five years. Yes, you read that right -- 30 percent. The median sale price in Dacula over the period of November 11, 2011 - January 12, 2012 was $155,500.
Find out what's happening in Daculawith free, real-time updates from Patch.
The good news in all this is that for those persons looking to buy there has never been a better time. The term we use for determining this is a "Affordability Index". Currently the index is at 13.6 percent of a family's income required to make mortgage payments on a median priced home. In this case that price would be $155,500 in Dacula. The historical average is 22.1 percent so as you can see we are well below this.
What is boils down to is this simple term. Buy NOW. The time is right and if you are considering purchasing a home or buying a home and renting your current home the time has come to get off the fence.
Find out what's happening in Daculawith free, real-time updates from Patch.
There are a lot of other positives I will get into in coming posts but I felt this was very important to point out.
Here is a interesting final fact. Interest rates are starting to creep up. If interest rates go up only 1 percent you will need to have a 10 percent reduction in the price of a home to make up the difference in rates from where they are today.
Want more information or are you in a position that may force you to sell your home? If so please give myself or another agent you know and trust a call to discuss your options.