ATLANTA, GA / ACCESSWIRE / May 26, 2023 / Exciting news for the U.S. housing market has been unveiled in a recent report by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Zillow, CNN, weighed in on this news discussing that April's new home sales reached their highest levels in over a year, indicating a significant surge. This surge not only bodes well for the national housing market but also presents promising prospects for the Metro Atlanta area. Furthermore, this upswing has bolstered builder sentiment, with more home builders expressing optimism about the market's future. The hope is that this positive momentum will persist, leading to an increase in new construction activity throughout the remainder of the year.
Lori Lane, President of Berkshire Hathaway HomeServices Georgia Properties' (BHHSGA) New Homes Division, provides valuable insights, emphasizing the favorable timing for potential homebuyers. Despite limited inventory and affordability challenges, the rise in new home sales brings hope to aspiring homeowners in Atlanta who are seeking accessible options.
The U.S. Census Bureau's latest data also reveals positive news for homebuyers. In April, there were 683,000 new single-family home sales across the country, showing a significant increase of 4.1% compared to the previous month. Even more impressive, it's an 11.8% surge when compared to April of last year.
As a key figure working with esteemed builders throughout the Atlanta Metro area, Lori Lane confidently addresses the concerns of prospective homebuyers. "I am often asked if it is still a good time to buy a new home or should I wait? My question is: what are you waiting for?" she states.
For those contemplating a new home purchase, it is important to recognize that prices will not experience a drastic drop. Waiting for lower prices may lead to disappointment, as home prices will continue to increase over time. According to NAR, real estate has historically demonstrated stable, long-term growth in value, with median single-family existing-home sale prices increasing an average of 5.2 percent each year since 1972.
The common question arises: should one wait for interest rates to change? Atlanta consistently ranks among the most desirable places to live in the country. Economists at NAR confirm that the metro Atlanta area offers the best opportunities for homebuyers in 2023, based on various factors. As more buyers relocate to the area, when rates eventually drop, there will be a surge of demand. With limited inventory, this could lead to multiple offer scenarios, driving home prices up. Instead of risking losing out on the home of your dreams, consider purchasing now and refinancing later when rates decrease. Lawrence Yun, Chief Economist and Senior Vice President of Research at the National Association of Realtors (NAR), supports this notion, asserting that "prices are expected to remain stable in the vast majority of markets due to extremely limited supply. Mortgage rates have trended down, and the new normal is 5.5% - 6.5%. So... for someone waiting for a 3% or 4% mortgage rate, it's not going to happen."
Lori Lane particularly recommends exploring new construction options for several reasons. Many home builders currently offer enticing incentives, including interest rate buy-downs and 30-year fixed interest rates as low as 4.99%. These incentives can significantly reduce monthly house payments by hundreds, if not thousands, of dollars. Moreover, some builders contribute towards closing costs, requiring less cash upfront. Additional benefits include move-in appliance packages, reducing the cost of significant purchases. New construction provides updated features, brand-new appliances, a new roof, builder's warranty, and vendor warranties. Furthermore, new homes often boast greater energy efficiency, further reducing costs. With limited inventory and homesites available, now is the opportune time to build your dream home. In summary, the best deal for your new home may be right now.
Under Lori Lane's leadership, the New Homes Division of BHHSGA, along with their builder clients, have achieved remarkable success, securing an unprecedented 37 gold awards and 25 silver awards at the 2022 Greater Atlanta Home Builders Association's (OBIE) Awards. These accolades celebrate their exceptional milestones in building, marketing, and personal accomplishments. Lori Lane and the New Homes Division proudly represent these Georgia top builders, developers, and communities in the Atlanta Market.
Patrick Malloy Communities
Patrick Malloy founded Patrick Malloy Communities in 1994, in an era when your home was part of your neighborhood, and your neighborhood, part of your life. Over the past quarter century, Patrick Malloy Communities has developed 11,000 homesites and sold more than 7,000 homes for over $4 billion in sales. Most recently Patrick Malloy Communities is building new homes at Upper East River in Savannah, GA and 55+ homes in Canton and Snellville, GA. Patrick Malloy neighborhoods boast a sense of pride and craftsmanship; each home is a commitment to "building character."
For more than half-a-century the name John Wieland has been synonymous with excellence in neighborhood design and homebuilding. The JW Collection is the legacy business of John Wieland and represents his 50-year commitment to building better homes, a promise he has kept for more than 30,000 homeowners and continues to uphold. Led by John Wieland, a recognized innovator in the home building industry, the JW Collection attracts leading architects, interior designers, project managers and tradesman. The team is inspired by John's solid history which includes building more than 30,000 homes and is driven by its collective vision to continue to push the envelope for excellence in design, construction, and customer service.
David Patterson Homes
David Patterson has been building custom and semi-custom homes in Atlanta, Forsyth County and on Lake Lanier for over 15 years. In 2015, David and Lauren started David Patterson Homes. With Lauren's flair for design and David's extensive building experience, they vowed to create a company dedicated to building beautiful homes that set them apart from other new construction, while providing an exceptional experience for every customer from start to finish. They combine the latest in new trends and design options and the design team provides exquisite interior finishes and unique architectural features which help to create timeless homes that feel custom and never go out of style.
After spending his early career as a telecom and web development executive at IBM, Sherwin Loudermilk founded Loudermilk Homes in 2009 to bring a passion for innovation and attention to detail to the luxury homebuilding business. Award-winning Loudermilk Homes is now entering its second decade with a relentless focus on quality custom craftsmanship, transparency and advanced smart home technology and is currently building in the Buckhead and Milton areas of Atlanta.
Trilith Builder Group at the Town of Trilith
Located just south of Atlanta in Fayetteville and across the street from Trilith Studios is the town of Trilith, a 235-acre European-inspired town. Trilith is a geothermal community that was exquisitely designed to accommodate the price sensitivities of creatives in all stages of their careers - from micro-homes, canopy homes and townhomes, to custom-designed single-family homes and luxury estate homes.
The Homestead at Milton
The Homestead at Milton, located in Milton just north of Atlanta, is a new gated community that sits on a former 180-acre golf course. With just 30 home sites, this is a once-in-a-generation opportunity to own 4-10 acres of land, build a homestead and put down roots for your family. Developed by Atlanta based Vision Development Partners, these luxurious homes sit on extraordinary acreage with a pristine lake, gentle rolling hills and mature trees that provide beautiful tree canopies.
The Canoe Club
The Canoe Club, a premier development by Reynolds Signature Communities, is a master planned community set on 600 picturesque acres with two spectacular freshwater lakes. A Nantucket-inspired Lake Cottage overlooks the lakes and features a large gathering room, sunroom, catering kitchen, coffee bar and fitness center. Other amenities include a four-lane lap pool, lighted tennis courts, lakeside wharf dock and canoe storage. The Canoe Club is located near historic Downtown Fayetteville just a few miles away with its unique shops and restaurants.
The Gardens at Arbor Springs
Located in Newnan, this award-winning community was honored by the Greater Atlanta Homebuilders Association as the 2021 55 + Community of the Year. The Gardens at Arbor Springs features European courtyard homes built by award-winning McKinney Builders. The Gardens is the perfect neighborhood where buyers can downsize without downgrading in homes that include high-end features such as Geo-thermal heating and cooling, and Pella Windows.
Gin Property is a new community in Historic Senoia in Coweta County and will include Brownstones, Single Family, Condominiums and Live-Work-Play homes. Located within walking distance to Main Street of Historic Senoia, homeowners will enjoy intown urban living, dining, and cultural experience that includes shopping, attractions and ambience designed to provide something special for local residents and visitors from near or far. Gin Property's homes are built by Senoia Enterprises and Redwood Homes.
About New Homes BBHSGA:
The New Homes Division of Berkshire Hathaway HomeServices Georgia Properties represents some of the most respected builders and developers in the Greater Atlanta area. The division is run and created by Lori Lane, President of the New Homes Division and backed by one of the most respected brands in the world. Lane also acts as Managing Broker and oversees the on-site sales and marketing for each community. Over the years, Lane and her team have created award-winning strategies for the marketing and selling of new construction and have won hundreds of awards that celebrate outstanding achievement and excellence in home building, marketing, and personal achievement.
Lori Lane, President of Georgia Properties New Homes Division, is known for building the highly successful New Homes Division, establishing herself as a powerhouse in the new home construction industry representing some of the most respected builders and developers in the Greater Atlanta area. In addition to her unprecedented success in new home sales and marketing, she also manages BHHS GA Luxury Collection marketing and is best known for the award-winning black and white Luxury Collection marketing campaign created and launched in 2015. Under her leadership, Luxury Collection sales have seen an increase of 269% in market share.
Lori Lane defines new home and luxury real estate sales and marketing and continues to make a lasting impact on Atlanta's real estate industry.
Name: New Homes Division - Lori Lane of Berkshire Hathaway HomeServices GA Properties
Email: [email protected]
Organization: Berkshire Hathaway HomeServices GA Properties
Address: 100 Mansell Court East Suite 115, Roswell, Georgia 30076
Phone: (678) 352-3314
SOURCE: Berkshire Hathaway HomeServices GA Properties - New Homes Division