Oconee
Real Estate
The Georgia Minority Homeownership Gap Is Slightly Smaller Than the National Average
Homeownership stands as a cornerstone of the American dream, providing individuals and families with the opportunity to accumulate wealth and maintain relatively consistent housing costs over time. The financial stability derived from homeownership is regarded as a key avenue for economic advancement and security. However, the realization of these benefits has not been uniform across demographic groups. These disparities, particularly along racial lines, have persisted for decades, resulting in substantial wealth gaps and reduced financial security among various minority groups. Minority Homeownership Rate Over Time ...
Rise in taxable value of homes in Georgia would be capped if voters approve
ATLANTA (AP) — Georgia lawmakers gave final approval Thursday to a package of legislation they hope will limit property tax increases, in what could be Republicans’ signature tax cutting effort of the 2024 session. The measures include a state constitutional amendment that will need voter approval in a November referendum before it can take effect. The plan would limit increases in a home’s value, as assessed for property tax purposes, to the rate of inflation each year, unless a city or county government or local school board uses a one-time escape hatch to opt out in early 2025. Senate Finance Committee Chairman Chuck Hufstetler, a Rome Republican, called it a “tremendous piece of tax legislation to relieve taxpayers in the short term, and over the cap, in the long term, keep their taxes down.”
Georgia Realtors call brokerage settlement ‘a big to-do about nothing’
While some real estate experts are predicting a seismic shift in the housing market after a $418 million settlement regarding commissions paid to the listing agent and the buyer’s agent, several veteran Georgia realtors are saying that it’s much ado about nothing. According to a statement by the National Association of Realtors on Mar. 15, the […] The post Georgia Realtors call brokerage settlement ‘a big to-do about nothing’ appeared first on Rough Draft Atlanta.
72.4% of Georgia Homes Are Single-Family
The ongoing repercussions of the COVID-19 pandemic continue to shape the U.S. real estate market, influencing both the geographical preferences of families and their housing choices. Initially, the pandemic prompted a migration of families from densely populated urban areas to more spacious homes in rural or suburban settings. Contributing factors such as increased personal savings rates, the rise of remote work flexibility, and historically low interest rates fueled a substantial demand for larger single-family homes. ...
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