Backstory June 10, 2024

Dated: June 10 2024

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Welcome to this week’s Real Estate Backstory, your go-to source for the latest updates, changes, and trends in the Atlanta area and surrounding markets. Here’s what we’re covering this week:

GAR Mid-Year Form Changes

The Georgia Association of Realtors (GAR) has rolled out mid-year changes to their forms, aiming to streamline transactions and address emerging market conditions. It’s essential for agents to stay updated on these changes to ensure compliance and smooth operations in their real estate transactions.

Communicating Offers of Compensation

Properly communicating offers of compensation remains a critical aspect of real estate transactions. Clear communication helps avoid misunderstandings and ensures all parties are on the same page regarding commission structures. We’ll delve into best practices for discussing and documenting these offers to maintain transparency and trust.

Commuting Distances

In our look at commuting trends, we examine the share of total commuters who travel various distances to work. Understanding these patterns can offer valuable insights for both buyers and sellers, particularly in the Atlanta area, where commuting times significantly influence home-buying decisions.

Cost of Finishing a Basement

One of the most common questions among homeowners is, “How much does it actually cost to finish a basement?” We break down the factors that impact the cost, including labor, materials, permits, and potential issues like waterproofing. This information can help homeowners budget more effectively and increase the value of their properties.

Gen Z and Housing Affordability

A recent survey highlights that Gen Z is most likely to rate housing affordability as the number one election issue. This generation’s focus on affordable housing is shaping political platforms and could influence future housing policies. We explore what this means for the real estate market and potential impacts on housing affordability initiatives.

Top Markets at Risk of Home Price Decline

We also discuss the markets most at risk of a home price decline. Economic indicators and market trends suggest that certain areas may experience a downturn. Identifying these markets can help buyers and investors make more informed decisions and prepare for potential market shifts.

Stay tuned for more insights and updates in the coming weeks. The real estate landscape is constantly evolving, and staying informed is key to navigating these changes successfully. Don’t forget to like, share, and subscribe to our blog for the latest news and expert analysis on the Atlanta real estate market.

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