Archive for November, 2022

Looking for Holiday Plans in Athens, GA?

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Every December, the sweet town of Athens transforms into a Christmas town that rivals those in most Hallmark movies. Downtown is lined with lights, the Christmas tree is decorated and displayed by city hall, and the local businesses are all bustling with shoppers. Here are some fantastic events coming up in Athens, GA this holiday season that you won’t want to miss:

The third annual Beechwood Holiday Market will open on Friday, Nov. 25 at 6 p.m. with a Christmas tree lighting and a holiday concert by Atlanta-based band, The Big Beyond.

Opening night will include a giveaway sponsored by some of Beechwood’s brands, including Kendra Scott, Lululemon, Foot Palace, Your Pie, Crunch Fitness, and more. In addition to live music, visitors will enjoy food trucks, Santa photos, hayrides, face painting, s’mores, and hot chocolate.

For additional information, visit: To sign up for Holiday Market updates, text “Beechwood’ to (833) 946-1799.
It’s time to lace up your boots and grab your favorite sweater because Athens on Ice public ice skating season is here!
Grab your ticket now to get ready for the season. The rink will be indoors from November 24 – January 8 and will move outdoors to the 440 Foundry Pavilion from January 27 – March 1. Skate sessions are 90 minutes of fun at only $13 per ticket. Groups of ten or more are eligible for $10 tickets. Want to skate regularly all season? Then grab a season pass for just $100 that will last from November through February! All tickets include skate rental (and smiles) for the session.
Now in its second year, the State Botanical Garden of Georgia at UGA is transforming this holiday season into a glittering winter wonderland of lights. The walk-through light show extravaganza features 11 illuminated displays along a half-mile path that is certain to delight and inspire. Meander with your family and friends and create magical memories among twinkling displays, colorful decorations and a mesmerizing multi-colored light tunnel. The Winter WonderLights show will include a Garden of Delights, Candy Cane Lane and Cone Tree Plaza, among other magical features.
Lighted displays will delight children and adults most evenings from Nov. 23, 2022, through January 8, 2023. The Alice Hand Callaway Visitor Center will be transformed into a holiday market, where guests can shop for gifts and souvenirs. Refreshments such as cookies, s’mores, bottled water, hot chocolate and coffee will be available throughout the light show.
The half-mile trail will take from 45-60 minutes to complete and is fully ADA accessible. Tickets are $15 each, free for children under age 3, and must be purchased online in advance. Winter WonderLights is presented by the University of Georgia.

What is an adjustable rate mortgage? Let’s talk about it.

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An adjustable rate mortgage, often referred to as an ARM, is a type of home loan with an interest rate that fluctuates with the market.  This is in perfect contrast to the fixed-rate mortgage, which has the same interest rate for the life of the loan, meaning your monthly payments stay the same.

Prospective home buyers have the choice between an adjustable rate and a fixed rate mortgage, so it is important to understand their differences. An ARM home loan has two periods: the fixed period and the adjustment period. The fixed period is at the beginning of the loan’s life (generally the first 5-10 years) and during this time your interest rate will not change. The adjustment period is when your interest rate may fluctuate depending on the market.  It is important to note that with an ARM in the fixed period, you will likely have a lower rate initially.  The concern many have with this type of loan is that if interest rates spike during the adjustable period, so does your rate. The reverse is also true, meaning if interest rates fall dramatically, so does your rate. 

As we see rising interest rates going into 2023, you may consider asking a lender about the option of doing an ARM loan. You will be given a smaller initial interest rate during your fixed period with the hope that once you reach the adjustable period, inflation and interest rates will go down, making your monthly payments smaller. It’s also important to remember that you can always refinance!

NOTE: Always ask your lender any pertinent questions about loans! Whereas realtors are very market savvy, the lenders specialize in mortgages and interest rates.  So, ask an expert before you make your decision.

Winter Market Update 2022

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Here’s what is happening in the Georgia real estate market right now…

As we move into colder months, a lot of people are curious about the rising interest rates and whether or not now is the time to buy or sell. Here are some market statistics to keep in mind when considering buying or selling a home right now:

  • First of all, why are interest rates going up? Interest rates are raised in an effort to curb rapid inflation and rising home prices. Higher rates slow people from borrowing money and therefore spending that money, which encourages prices to lower.
  • There is a growing gap between a property’s original listing price and what it actually sells for. Price reductions are becoming more and more common as seller’s set their minds on high prices that were realistic months back, but are no longer within reach for most buyers due to higher interest rates.
  • The median sold price in single family homes has been just under $300,000 for the last three months.

It is important to remember that interest rates always fluctuate, and you can still grow your equity in this market. How, you ask? Talk to a realtor!