Coach, the energy out there felt different. What changed for the team today?
It was a new game day scratches from the California Lottery players everything. Those games sent the team's energy through the roof.
Are you saying it was the off field play that made the difference on the field.
Hey, little play makes your day, and today it made the game. That's all for now, coach, One more question.
Play the new Los Angeles Chargers, San Francisco forty nine ers and Los Angeles Rams scratchers from the California Lottery. A little play can make your day.
Peace made.
Responsibility must be eighteen years or older to purchase late or claim.
Yeah, And I'll start with you. So you was telling us what we was eating. As far as I know, Atlanta is our second biggest market in our second home, and we got a lot of love that Atlanta. And I'm sure a lot of people in this chat right now from Atlanta or thinking to move to Atlanta. So can we talk about the Atlanta real estate market right now?
Sure?
Sure, sure, Atlanta, we are really on a really fast pace to grow, so let's just talk about it. Across the country, there was a fifteen percent growth in the real estate market. That's the country. However, and US say today they had an article about three cities that actually grew over eighteen percent in the real estate market through COVID, and Atlanta, Georgia was on that list. It was actually Atlanta, Georgia, Doring,
North Carolina, in Austin, Texas. What I want people to realize is that Atlanta, unlike many other cities, Yes we are you know, we're experiencing inflation, but Atlanta, we're in the middle of a growth spurt. When I moved to Atlanta two thousand and six, two thousand and seven, they said we were going to be the Black Hollywood. So keep in mind, we're just living up to that promise.
You earners are coming here and you're earning these look you're making them earnings and you're driving the price up. So Atlanta, we are in a phenomenal market, but we have historically low inventory. So that is that's that's a thorn in our side as a real estate agent. If I had the inventory from two years ago with the clients I got today, it'd be real up and stuck right now, all right, But at this moment, we have so you know, just to kind of some context, so
I want to educate you guys. When you were having twelve months of inventory, you know, you're really pretty much in a buyer's market. You come down to six months of inventory, then you really get closer to that neutral market. We have one and a half one point two months of inventory, so that's one month, one year, one month, one point two months. That's not even a full month. Yeah, we have no inventory to actually support the number of buyers that we have out here. So that's driving the
price up. It's simple to apply and demand, you know, and it's pure economics. Anyone here can speak on that. So we have more demand than we have supplies driving the price up. It's good, but it's not so good, you know what I mean. So I would say Atlanta right now, if I was looking to invest in Atlanta, I would tell you to do it now because right now it is a great time to invest, so you can take advantage of these price increases. You know, people
are you know, getting amazing equity returns. Yeah.
So one of the things that holds people back when not just Atlanta, but you can speak on it.
It's interest rates.
And I know they were pretty low at.
One point during the pandemic.
I know they've kept up back over three what's your outlook on interest rates?
And what are you seeing? Are you seeing people doing fifteen year conventional loans or thirty year conventions? What are you seeing?
Are we buying cash out there?
What's going on?
You want me to take this? So you got well, I.
Can tell you the money is outside. I mean, I hate to say it like that, but most people are doing a thirty year fix because the interest rates are so low. But I'm finding more and more cash buyers. And we used to see that a lot in the lower price points, like two hundred thousand, three hundred thousand. I'll tell you the other day of a home that one of my buyers lost an offer on. It was listed at six hundred and fifty seven thousand. It sold at seven hundred and seventy thousand to a cash buyer
in Alpharetta, Alpharetta, Georgia. So I say that to say I'm noticing more and more cash buyers. I just reviewing off for one of my agents and she just lost an eight hundred thousand dollars house to a cash buyre. So our cash buyers are relocating here to Atlanta Atlanta is actually them before on the list for the best place to live in the world. So keep in mind,
you have DMV, you have California, you have Miami. All these cleek places are coming here because no matter how how our prices are, the cost of living in Atlanta is still better than all these other locations.
Yeah, this reminds me of my bad go back right now. This reminds me a lot of two thousand and seven. So Alpharetta and Northcross is like on fire. Yes, properties like four hundred thousand. What are some of the best areas in Atlanta to invest in? And do you see any similarities from two thousand and seven and eight to now?
The only similarity that I see is the demand. We have a lot of demand and a lot of people purchasing. But that's the only similarity because then we had a lot of inventory back in two thousand and six two thousand and seven, so you were we were able to actually help those people buy those properties. In this particular climate, we have no inventory. And on top of that, there's so many more lending restrictions. You just can't walk in and bank and say, hey, I'm a millionaire. My credit
score is seven hundred, give me a house. Now they want your blood, your sweat, your tears, your blood, your dogs. You know, you can't just walk in there. There's so many layers, so you can't do that. But the areas that I see, but I think that most people really.
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Pay attention to is the part of Mariata that's by the Brave Stadium. That's three zero zero three nine if I'm not mistaken mistaken, but that specific zip code where the Brave Stadium is Brookhaven three zero three one nine. It is Robin because it's right outside of Buckhead and it's not overly saturated, so you want to go there.
We also have the Westview West End area, which we saw significant growth with them last year to the point where the mayor put a hold on permits because the prices were increasing so much, and.
A whole lot of modern, new, modern.
Bills are being built. So anything within the city of Atlanta. Yes, East Atlanta three h three one seventh West Atlanta three zero three one eight people West Atlanta, what is really really growing because they've created their own city within the city that used to be bank Head.
You know, shout out, shout out to they got the belt line right, Yes, yes.
So the Atlanta belt Line is attracting so many people, and it's really adding that convenience here because that's the only thing that we didn't have. You know, we didn't have the convenience of the belt line. We didn't have that indoor outdoor living. But now we have that in Atlanta, and it's growing significantly. More restaurants, more buildings are coming here. It's just amazing.
That's exact. Matt. Let me ask you for two questions. I want to get your take on an interest rate question since you're in that world, and then also are here mortgages the second homes in Skyrocket right now, So what's your take on those two different things?
Yeah?
Absolutely, man, So interest rates right now, I would say for the loan applications that I see, I'm seeing more thirty effects than anything. Right, it's just to me, the most cost effective way to purchase a home versus going to a fifteen or twenty year mortgage. So most of the applications that me and my team see is all thirty fixed right. Interest rate wise, FHA still at all
time low. Depending on property type, loan amount, you can be anywhere in that two point six two five percent range maybe to like three percent, just dependent on credit scores, property type, and loan amount. But rates are still extremely low, you know, conventional mortgages, you know, high tools, low threes, again depending on credit score, property type, loan amount. So rates are fairly, fairly, fairly still low. I'm still a historical rates. Money is the cheapest it's ever been over
the past couple of years. So definitely don't wait, don't hesitate in my Troy voice, because it's here today and going tomorrow.
Now.
As far as mortgages for second homes, I mean, this is you know, happening all over the country because of COVID, because of the pandemic, people can work from home, people are making more money because they're investing. So now you have these luxuries where you don't have to stay in New York twenty four to seven to go to work. Companies are now embracing people working home and working on zoom.
So now you have places like Miami, for example, their luxury market with second homes is up one hundred and one percent year over year. Like, it's absolutely insane right now when it comes to this, right and over the past eleven months, mortgage applications for second homes are up over one hundred and seventy eight percent, you know what I'm saying year over year, and it's on eleven month
straight growth street. So it's absolutely incredible. This is the time for those who have money to be able to go ahead and buy second homes. You can use these second homes as air and b so they can serve for a two for one right when you go out of town, you can go visit. You can stay there with your family, your friends, or whoever. And when you're not there, you can airbnb it and it kind of it can pay for itself. So it's a double edged sword,
so to speak. So those second homes, you know, look into it, people, man, I mean, you got so many good areas Pocono's Miami. You know, whatever your budget is and if you're dealing with vacation areas, especially now America is reopen. Look at the CDC. They're finally going to open up New York in two days. You know what I'm saying, Like, Yeah, d d C is saying forget your mask, go outside, live la loca.
You know what I'm saying.
Careful, you know, but be careful. I must still be outside in my mask. Hold y'all up.
It's interesting with CMO. He got in that scandal and all of a sudden he's lifting everything in New York to be mindful.
My graduates from my school being forced back drop drop, Mike, drop back drop.
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