Atlanta New Construction is on the Rise
Hundreds of new homes are hitting the local real estate markets each month. There are even more new homes in framing that are not included in the multiple listing service and many more about to break ground. Residential new construction is on the rise, with no sign of a slow down anytime soon. Here is quick sample of the 8 Newest Homes in Cherokee County…
In 2015 construction spending across the nation hit its highest annual level since 2008, with spending on new residential construction at a 12.6% increase from 2014. With this increase in momentum, the single-family housing market positively indicates that people who lost their homes after the financial crisis might finally be recovering, and that young adults living with their parents might finally be moving out.
Atlanta New Homes are Top 10 in Country
According to a study recently published by forbes.com, Atlanta ranked #9 of the 20 Top US metro areas with the most new construction in 2015. As of February 2016, the US Census Bureau along with HUD indicated new construction starts for privately owned housing was up 30% over February 2015 (March not yet published). Much of this increase in new construction spans beyond the metro Atlanta area into the northern suburbs, specifically targeting Cherokee, Forsyth and northern Fulton counties. Deserted subdivisions previously left abandoned with PVC pipes and weeds are now being brought back to life as builders are aggressively taking full advantage of an improving market.
With new neighborhoods popping up at almost every corner, many would-be sellers are stimulated on a daily basis by all the new construction. The daily drive-by’s of new neighborhood signs and expedited progress of homes under construction visually encourage many to let go of the edge of the pool, and jump in! As such, there is an increase in re-sale activity as many homeowners are listing their current homes on the market in order to buy new.
New Home Buyers Need A Good Agent
When the decision is made to sell a home, most people understand the necessity and value of working with a real estate agent. However, many buyers think they don’t need to hire a real estate agent when buying a new construction home. Quite the contrary. There are significant benefits to having an agent represent and support a buyer throughout the involved process of buying a home; and the best part – a buyer’s agent is zero cost to the buyer. As a buyer of a new construction home, it is important to keep a few things in mind.
5 Reasons to Choose a Buyer Specialist
- The builder’s agent or rep works 100% in the best interest of the builder, not for the buyer.
- Buyer Specialists often know the builder’s reputation in the community and/or have worked with previous clients of the builder.
- New homes do need home inspections. Building inspectors miss code violations all the time. Buyer Specialists can recommend the best inspectors for you.
- Closing Costs “paid by the builder” may not be a good idea if the rate is increased to compensate or the appraisal is “easier” due to a vested interest by the builder’s lender. Buyer Specialists can review the opportunity and recommend other lenders as necessary.
- Buyer Specialists go to bat for the buyer and can be the “bad guy”, if needed, so the buyer can retain a good relationship with the builder for ongoing warranty items after closing.
- Onsite agents and builder reps value relationships with buyer agents who have the potential to bring them more buyers, so they often go the extra mile for agents & their buyers who have a strong reputation in the community.
Our Path & Post team of Buyer Specialists continually create and nurture positive relationships with agents and builder reps working new construction communities. As Janet Brown, a 20+ year agent with D. R. Horton Homes states,
“I much prefer our customers have a Realtor representing them in the transaction. Not surprising, but building a home can be among the most stressful things a person experiences. There is so much more involved than seeing a finished home and buying it. Buyers who have Realtors feel like they have someone “in their corner” to help them through the process and assist them in managing the details!”
The most successful home sale and purchase transactions include experienced and knowledgable Realtors who effectively support and represent their clients on each side of the transaction. Path & Post’s unique approach at supporting clients with experienced specialists enables us to meet the needs and exceed the expectations of our clients.Learn More About Our Team Approach