Thom Abbott, Author at

COVID-19 The Lockdown in Numbers

September 13, 2020 by Thom Abbott

I was cleaning my desk up and found an article I had meant to put into a blog post.

Then I thought, well, it’s still some interesting numbers, so why not still share it. The article was in the July issue of (I think maybe Atlanta Magazine?) and has various stats about what the COVID-19 impacts have been, and The Lockdown in Numbers.

Some interesting points :

Game Downloads and streaming usage increased 35% from March 1 to May 1 (I was certainly online, but it was not gaming!)
A 40% drop in congestion on state roads and our freeways March to May! If you were out and about as I was (although it was pretty minimal in March and April….grocery trips and even those were few and far between as I did some major stocking up when it all “hit” about March 15th) the freeways were more than empty. It was like something from the Walking Dead…..seriously!
The stat that I really liked was the huge increase in the number of fosters and adoptions of four-legged family members. In March, 2019 the number was 233,573…..in March 2020, it was a staggering 792,813!!! It just warms my heart to think of all those animals that found loving homes and families versus what the other future was. And no, I was not one of them…..
And as one can imagine, a 75% reduction in riders on MARTA…I mean, who was going to work?

We are still struggling to get back to “normal” and you have to wonder what that will actually be. To see the airports bustling…hotels filled with vacationers or business people at conventions. It must come soon, right?

Sellers Are Returning to the Housing Market

August 25, 2020 by Thom Abbott

Sellers Are Returning to the Housing Market

In today’s housing market, it can be a big challenge for buyers to find homes to purchase, as the number of houses for sale is far below the current demand. Now, however, we’re seeing sellers slowly starting to come back into the market, a bright spark for potential buyers. Javier Vivas, Director of Economic Research at realtor.com, explains:

“Seller confidence has been improving gradually after reaching its bottom in mid-April, and now it appears to have reached an important recovery milestone…After five long months, sellers are back in the housing market; while encouraging, the improvement to new listings is only the first step in the long road to solving low inventory issues keeping many buyers at bay.”

Even with the number of homes coming into the market, the available inventory is well below where it needs to be to satisfy buyer interest. The National Association of Realtors (NAR) reports:

“Total housing inventory at the end of June totaled 1.57 million units, up 1.3% from May, but still down 18.2% from one year ago (1.92 million). Unsold inventory sits at a 4.0-month supply at the current sales pace, down from both 4.8 months in May and from the 4.3-month figure recorded in June 2019.”

Houses today are selling faster than they’re coming to market. That’s why we only have inventory for 4 months at the current sales pace when in reality we need inventory for 6 months to keep up. But, as mentioned above, sellers are starting to return to the game. Realtor.com explains:

“The ‘housing supply’ component – which tracks growth of new listings – reached 101.7, up 4.9 points over the prior week, finally reaching the January growth baseline. The big milestone in new listings growth comes as seller sentiment continues to build momentum…After constant gradual improvements since mid-April, seller confidence appears to be reaching an important milestone. The temporary boost in new listings comes as the summer season replaces the typical spring homebuying season. More homes are entering the market than typical for this time of the year.”

Why is this good for sellers?

A good time to enter the housing market is when the competition in your area is low, meaning there are fewer sellers than interested buyers. You don’t want to wait for all of the other homeowners to list their houses before you do, providing more options for buyers to choose from. With sellers starting to get back into the market after five months of waiting, if you want to sell your house for the best possible price, now is a great time to do so.

Why is this good for buyers?

It can be challenging to find a home in today’s low-inventory environment. If more sellers are starting to put their houses up for sale, there will be more homes for you to choose from, providing a better opportunity to find the home of your dreams while taking advantage of the affordability that comes with historically low mortgage rates.

Bottom Line

While we still have a long way to go to catch up with the current demand, inventory is slowly starting to return to the market. If you’re thinking of moving this year, let’s connect today so you’re ready to make your move when the home of your dreams comes up for sale.

City Of Doraville Gets New Residential Sanitation Service

January 29, 2020 by Thom Abbott

City Of Doraville Gets New Residential Sanitation Service

The residents of the City of Doraville will have a major change in their garbage service, beginning February 5, 2020.

In late 2019, the City Council voted to move the city’s garbage collection from Advance Disposal to the Dekalb County Sanitation Division. Cost savings may have not been the determining factor, since the new service will cost City Residents an additional $100 per year for the garbage collection. But, we looked at what is included in the new service, which is aimed at cleaning up the city, especially with regard to bulky items that have often remained on the curb of homes for days or weeks before being picked up.

The new garbage service includes:

Unlimited curbside garbage pickup
Unlimited recycling pickup (subject to restricted items)
Weekly pickup of yard trimmings
Weekly pickup of bulky items…think couches, mattresses, toilets and televisions .. to name a few!

Special collections for items like dead domestic animals, auto tires, construction materials and tree limbs cut by professional companies will require an extra fee, although literature provided to residents did not offer up what those fees may be.

For curbside recycling, the list of what is picked up vs. what is NOT picked up is about equally as long on either side. Stand out items that ARE UNACCEPTABLE include glass, waked paper, aluminum or tin foil, foam rubber or packing material, polystyrene cups and to go trays and more…..

Residents have already been provided a 95-gallon roll cart for household garbage. These are the same size as previous containers, but are numbered and assigned to an address. At a later point, residents will receive a 65-gallon recycling roll cart.

What will prove interesting is the pick-up schedule. The once-a-week collection day is on Wednesday. This means…a single home could have lawn bags, a bulky item, and both their recycling and garbage roll carts at the curb. One presumes it’s going in multiple trucks. One for garbage/bulky items, One for the recycle items and yet another for the lawn debris that should be going to a composting area somewhere in the County. The first service is on Wednesday, February 5th…so we shall see.

You can find all of the information that was included with the delivery packet and the green roll cart here on our website.

5 Maintenance Skills All Homeowners Should Know

January 27, 2020 by Thom Abbott

5 Maintenance Skills All Homeowners Should Know

Owning a home can be one of the most important parts of a satisfying lifestyle. The joy of coming home to someplace you can call your very own offers security and comfort. Yet owning a home comes with responsibilities as well; maintaining the home in proper condition is critical to avoid larger problems later. Let’s look at 5 Maintenance Skills All Homeowners Should Know.

And yes, this applies to condo owners as well.

While some people are handier than others, here are 5 maintenance skills anyone can master.

1. How to Turn off Your Gas and Water –If you smell gas or have a water leak, taking quick action to shut off the source to the home while you wait for a professional can save thousands of dollars, and even lives. When you purchased your home or condo, this may have been pointed out to you during your home inspection. These are key things to know. If you have a dishwasher or washing machine that won’t stop filling, you can turn off all the water at the main shutoff to stop any flooding, or at least minimize it. With gas, of course you want to avoid any potential explosion and/or getting sick from the fumes.

2. Understanding How Electricity Is Fed to Your Home –Learn how to reset GFI outlets and popped breakers at the panel to avoid expensive house calls. Check out this YouTube video!

3. How to Find a Wall Stud – Avoid drywall repair when hanging pictures or shelves. Here is one on Amazon!

4. How to Change Your Air Filters – Keep your air fresh and your HVAC systems running efficiently. Know the size of your filter, and have extras on hand. You can change your filter as often as you desire, but many recommend every other month. Some systems say every 6 months, but that could be to long.

5. How to Address Simple Plumbing – From fixing a running toilet to recaulking the shower, simple plumbing related issues can save money in service calls and damage.

A quick visit to the local big box home supply store or afternoon online watching repair videos can help any homeowner tackle a few simple do-it-yourself tasks around the house. Learning a few basic maintenance skills will ensure you and your loved ones are safe and you’ll help your home stay in top condition.

If we can help you find a handyman to help with these issues, let us know. We also have plumbers and HVAC contacts should you find a problem is bigger than what you may be comfortable handling.

25 Quick Ideas for Decluttering

January 13, 2020 by Thom Abbott

25 Quick Ideas for Decluttering

You know you got stuff. It’s everywhere!! Whether you live in a single family home, or a 1-bedroom condo…you just start piling up stuff!

Got a spare hour or so? It’s time to start tossing. Grab a trash bag, a recycling bin and a few donation boxes and get down to business. Working room by room, here are the things you can get rid of right this second.

Kitchen
1. Expired food in your fridge and pantry. (Don’t forget to check all those condiments—they don’t last as long as you think).

2. Recipe books, cards and print-outs you don’t use.

3. Old or one-time use cleaning supplies under the sink.

4. Bottles of alcohol collecting dust.

5. Old, stained and tattered sponges, dishrags and hand towels.

Living Room
6. Magazines you’ve already read.

7. DVDs no one watches.

8. Knickknacks that no longer speak to you.

9. Extra throw pillows and blankets.

10. Toys and electronics that aren’t played with or used.

Bathroom
11. Expired medications.

12. Old makeup, nail polishes and skin care products.

13. Any half-empty bottles or soap remnants in the shower.

14. Sample packets and hotel soaps, shampoos and lotions.

15. Any hair accessories, curlers or hot tools that don’t get used.

Bedrooms
16. Extra sets of sheets—you only need two!

17. Clothes that don’t fit or you no longer wear.

18. Shoes that are worn out or never worn.

19. Jewelry that’s broken or never worn.

20. Extra buttons, clothing tags, safety pins and bobby pins.

Office
21. Old instruction manuals.

22. Print-outs you don’t have use for.

23. Books you’ve already read, don’t like or won’t realistically get to.

24. Old tax documents, bills and pay stubs. (Shred these!)

25. Extraneous pens, pencils and other office supplies.

2020 Forecast Shows Continued Home Price Appreciation

December 26, 2019 by Thom Abbott

2020 Forecast Shows Continued Home Price Appreciation

Questions continue to rise around where home prices will head in 2020. The latest forecast from CoreLogic shows continued appreciation at 5.4% over the next year:Additionally, ARCH Mortgage Insurance Company in their current Housing and Mortgage Market Review revealed their latest ARCH Risk Index, which estimates the probability of home prices being lower in two years. Based on the most recent results, 32 of the 50 U.S. states (plus D.C.) had a minimal probability of lowering by 2021.

Bottom Line

Experts forecast home price appreciation to continue at a moderate rate as we move through 2020 and beyond. With appreciation growing, let’s get together and plan for your next move.

Sellers Are Returning to the Housing Market

Why is this good for sellers?

Why is this good for buyers?

Bottom Line

City Of Doraville Gets New Residential Sanitation Service

5 Maintenance Skills All Homeowners Should Know

25 Quick Ideas for Decluttering

2020 Forecast Shows Continued Home Price Appreciation

Bottom Line

PalmerHouse Properties