Welcome back to another week's edition of Go Gattis Real Estate Radio right here on Atlanta's own AM 920 The Answer. I'm Cleve Gattis and I appreciate you joining us for this week's show. In our first segment, what is Cleve's take on the Metro Atlanta residential real estate market in terms of opportunities for buyers and opportunities for sellers and are something you should know about Atlanta segment.
We're discussing the Savoy Automobile Museum in Cartersville. I've never been there, but I'm going and I'll tell you why. September is Realtor Safety Month. If you are a realtor, or if you plan to deal with a realtor, you want to pay attention. So what we're going to discuss when it comes to realtor safety because your realtor, believe it or not, might be able to defend himself or herself.
And we've got an update for you on the 1 Zillow home for sale that we mentioned a couple of weeks ago. My name is Cleve Gaddis. You're listening to Go Gaddis Real Estate Radio. Again, right here on AM 9 20. The answer. Our goal with this show is to help listeners go from real estate novices to experts. So home selling and buying could be done with total confidence and without all the worry that is so typical with life's biggest investments.
We don't want you to learn anything at closing or after That you should have learned before and we want to connect with you and it is easy Just go to gogaddisradio. com G o g a d d i s radio. com You can ask questions that we answer on air or off air you can make comments You can push back or challenge anything we say you can share your ideas with us, especially those you'd like for us to share On the radio show.
We would love that you can request your neighborhood be featured in our neighborhood spotlight, and you can subscribe to our podcast in our next segment, we've got, what does Cleve think about the Metro Atlanta residential real estate market right now? Many of you who are aware know that interest rates over the last couple of weeks have popped up over.
I haven't done any research in the last little bit, but let's go see real quickly what Fannie Mae says the interest rate is today. Hang on one second. Let me go to it and find it. Here we go. I love being able to do some research online right while we're on the radio. I enjoy that. Thirty year fixed rate mortgage.
Average mortgage rate throughout the U. S. As of Friday, 7. 18%, a 15 year fix to 6. 55%. The reality is, is that many people who think about buying a home today are, they're discouraged because of the interest rate. And I'm not one of those who's going to tell you, Oh, don't worry about it. Over time or historically, this rate is reasonable because I think the average rate historically is in the high sixes or the low sevens.
When I bought my first home in 1992, my interest rate was 8. 875 percent and I was glad to get it. But there are a couple of things that have happened over the last few years that have made it really, um, a particular advantage for sellers and buyers in today's market. Number one, buyers have more choices.
I was talking to my business partner, Christy, earlier today. about one of our agents and it's an agent who's been on the team for years and years and the agent believes that today's market is much much easier for her to help buyers be successful in buying homes anywhere in metro Atlanta and it's because there's less competition so higher interest rates run some of the competition off.
I was reading something the other day that BlackRock, a and Uh, is it black? No. Black Knight, uh, which is a mortgage data company, data, data, like listing service type data, uh, collector in the mortgage industry says that for every one point drop in interest rates, 5 million buyers will enter the housing market.
I have no idea whether or not that's true. I don't believe it is true. I believe it's too high, but with interest rates high right now, it keeps other buyers out of the market. For sellers who are thinking, I can't sell, so it is a good time to buy as a buyer, maybe your interest rate will be a little bit higher.
My guess is over the next 24 months, we'll see interest rates that are lower than they are today. So you might be able to get into the home at a rate that's a little higher than you'd like. And over the next 24 months, maybe you'll be able to refinance into something. a little bit lower. As a seller, in many cases, you're worried about, hey, how do I go from a 3.
25 percent interest rate on my current home and go pay a six and a half or a seven percent rate on my new home? Well, the reality is that many of you have so much equity in your home that when you take that equity, you could, for example, pay a normal down payment, finance the house at a normal interest rate, and take the rest of the money.
That you would have put down on the house and you could buy 12 month cds that would pay you 5 percent interest today I've talked to many many homebuyers who are making their house payment off of the interest they're earning Either on their certificate of deposit or on their online Savings account so my take on the metro atlanta residential real estate market is it is a good time to buy Because there are more choices and when we buy a home, it is my belief That we should buy the home because it fits our lifestyle, because we're proud of owning that home.
And then when it comes to selling, there are great opportunities for sellers, even though interest rates are higher, people will be trading a lower interest rate for a higher interest rate. There are lots and lots of opportunities out there because sellers have gained so much equity In their home over the last few years that they have lots and lots of options If you've just joined us you're listening to go gattus real estate radio right here on am920 the answer.
I'm cleve gattis In addition to being the host of this show, I'm a full time real estate broker with a team full of agents helping buyers, sellers, investors and landlords make the best decisions whenever possible anywhere in Metro Atlanta. Uh, I am co owner of Modern Traditions Realty Group. You can find us online at modern traditions, realty.
com. You can also connect with us. Easily on the radio show page at gogaddisradio. com. That's G O G A D D I S radio dot com. Have you ever heard of the Savoy Automobile Museum? I hadn't. And if you're someone who's just curious about cars, or maybe you're an automobile enthusiast, or you're a serious car collector, you are all welcome to pause for a moment and take in the artistic beauty of the magnificent machines.
found inside the Savoy Automobile Museum. The Savoy Automobile Museum connects people to the cultural diversity of the automobile. Now I am not a huge car buff, but I have this secret desire to someday have a. Old classic car. I really want a truck. I want like a 1940 or 50 Ford with a flatbed with wooden rails.
And so I would love to get up to the Savoy Automobile Museum and check out what they have to offer through changing exhibits and educational programs and engaging experiences. People have the opportunity to appreciate the beauty and history of automobiles. The museum sits on approximately 37 acres in Cartersville, Georgia, just off I 75 between Chattanooga and Atlanta.
It consists of three buildings. Two are in existence. One is coming soon. The museum, first of all, then the vehicle storage building, and an outdoor pavilion, which I believe is in the progress, in the process of being made. It encompasses 65, 000 square feet, complete with a soaring great hall, four exhibition galleries, a state of the art presentation theater, and an extensive research library, and If you get hungry while you're there, they also have the Savoy Cafe.
Guests visiting the museum will be met with an assortment of automobiles and original works of art. It's home to many exciting events throughout the year. Check the calendar frequently for new additions, and follow them on social media for the latest announcements. The museum is open Tuesday through Sunday, closed on Monday.
From 10 a. m. to 5 p. m. be sure to check for holiday hours. I don't know about you, but I plan to go to the Savoy Automobile Museum. September is Realtor Safety Month. We've got a few tips and facts that we thought you might want to know about Realtor Safety. The National Association of Realtors has once again dedicated September as Realtor Safety Month as it aims to help members understand the risk they face.
Through knowledge, awareness, and empowerment. As part of the month long campaign, the National Association of Realtors is hosting a free safety webinar. This is for realtors. It's September the 13th at 1 p. m. Eastern Standard Time. For you realtors who are out there listening, visit NAR's website and register.
So a couple of things, a couple of statistics that we've learned. The typical respondent or realtor meets prospective clients whom they've never met before either at their office or in a neutral location sixty six percent of the time if you're working with a realtor and they ask you to meet them at a Starbucks or at the office in the first place, understand they're trying to make sure that they are safe.
Seventy three percent of realtors have personal safety protocols in place that they follow with every client. This is more likely among females, seventy six percent. that among males, which is 67 percent 40 percent of residential realtors said they have participated in a self defense class. 43 percent of men and 54 percent of women carry a self defense weapon or a tool.
75 percent of realtors say they Feel more prepared for unknown situations after taking a REALTOR safety course. On the show last week, we told you about a home in Michigan that was listed for 1. Well, we followed up and we have an update. It sold for 52, 000 on August the 30th. If you want to learn a bit more about this home, just listen to the podcast episode.
Title Zillow's 2023 journey and a hilarious 1 home listening adventure. You can get it on every major podcasting platform. Just search under Go Gattis Radio or Cleve Gattis. Look for the segment. One of the segments dated September 4th, 2023 available on all major podcasting platforms. This segment of the show is brought to you by John Birchfield and Capital City Home Loans.
John makes it his mission. To guide each homebuyer step by step through the entire loan process, so you're educated and confident in all the mortgage options available, he can be reached by calling 678 226 7887. If you're thinking about selling your house any time in the next six months, go to gogaddisradio.
com today. Click on sell for 28, 000 more, put in a little information, and we'll reach out to you and tell you how we believe we can help you sell your house for 28, 000 more than your neighbor sold his or her home. For if you don't believe me, try me, go get us radio. com. Click on sell for 28, 000 more.
We're going to take a break. When we come back, what's it in a really important part of being fully informed as a buyer? Well, it's the home inspection. We'll cover home inspection basics and more when we return.