Barbee Dream Homes ~ Real Estate Group, LLC
Barbee Dream Homes Real Estate Group, LLC


When stay-at-home mandates were enforced last year, many households realized their homes didn’t really fulfill their new lifestyle needs. An office (in some cases two), a media room, space for children to learn, a gym, and a large yard are all examples of amenities that became highly desirable almost overnight.

Zelman & Associates recently reported that sales of primary residences grew by 9% in 2020. That increase in demand was met by the lowest supply of homes for sale in history. High demand and low supply caused prices to skyrocket over the past twelve months. Here are three home price indexes released most recently that show how home values have risen:

• FHFA Agency House Price Index shows a 13.9% increase
• CoreLogic Home Price Insights Report shows an 11.3% increase
• S&P Case-Shiller U.S. National Home Price Index shows a 13.2% increase

Prices increased by double digits in every region of the country and in 19 of 20 major metros. Chicago was the only exception, where prices still rose by 9%.

What does this mean to those who purchased a second home during the pandemic?

Many people didn’t want to give up a home in the city or close to their office. Instead, they purchased a larger second home farther away and moved there to stay safe and have more space. According to the same Zelman report, sales for second homes rose an astonishing 27% in 2020.

That large second-home retreat on a lake or in the mountains would demand a higher price than the average house. Let’s assume a buyer purchased such a home for $500,000. Assuming the middle 13.2% appreciation shown above, that home would now be worth about $566,000.

Those who bought second homes to improve their lifestyle during the height of the pandemic, or those who just wanted to be in a safer environment, also made a great investment.

What should these homeowners do now as the pandemic is receding, and the economy is reopening?

The buyers of those second homes now have a decision to make. Many will move back to the original home they still own (the one that’s closer to work, friends, and family). Should they keep the second home? That could depend on answers to questions like these:

• Now that you may have to go back to the office (at least a few days a week) and students are required to physically attend school, would you still use the second house enough to warrant the expenses of an additional home?

• Would you go to the second home on most weekends, or would you return to the movie theater, attend sporting events, eat out at fine restaurants, or spend your time traveling again?

Bottom Line

If you purchased a larger second home during the pandemic, you were able to make day-to-day life much easier for those important to you. You also made it much safer. However, with those goals already accomplished, you now need to decide whether to continue paying the extra expenses or sell the house and cash in your profit. If you decide selling makes sense, let’s connect today to discuss the value of your second home.

    Joe Barbee - MRP, ABR, SFR
  Broker/Owner
  Barbee Dream Homes Real Estate Group

  478-978-3428 ~ Direct Line
  478-919-2165 ~ Office 
  www.FindHomesInWarnerRobins.com
  www.Facebook.com/BarbeeDreamHome

What our clients are saying  

Barbee Dream Homes did an excellent job selling our church’s rental home. They work hard to get your home sold. They are great with communication, advice and care about their sellers. I would recommend them without hesitation. If you need your home sold, you can trust them to give all they have on your behalf!

 

~ Craig Ruesch

I have known Joe for around 8 years or more. He has always been a man of integrity and runs his real estate team the same way. It was a no brainer when we went to purchase our home to use Joe & Jenny.

 

~ Michelle Griffin

Joe and Bob had our house closed within a month of getting it on the market. They're super quick about returning calls and messages and really took care of us. They're also laid back, which helps uptight people like me :)

 

~ Melanie Hazen

Joe made my first home buying experience unforgettable!! His dedication, integrity, and honesty are unmatched! The process was smooth and we got what we wanted. When I choose to buy again, the Barbee team will be my resource! Thank you Joe!!

 

~ Crystal Marie

So thankful for the hard work and dedication to get our house sold. They are honest, knowledgeable and great to work with.

 

~ Refuge Church

Awesome source for your real estate needs. Was very easy dealing with and informative.

 

~ Andrew Herndon

The Barbee Dream Team has truly been amazing. Every time I called and wanted to look at something or had a question they were there and available to help us. They have outstanding knowledge and compassion about the job which made this experience so amazing.

 

~ Alex Behling

Joe has been are buying agent for 2 homes. No question he has earned his commission before, during, and after our purchases. Without his hard work we could have never gotten our 2nd house, and on top of that his referrals to various contractors has saved us thousands of dollars.

 

~ James Rivers

The Barbee Dream Homes Team rented our investment property in no time. We are looking forward to investing more money in the Warner Robins area and The Barbee Dream Homes Team will be our exclusive agent. Thanks for a job well done.

 

~ Sandy Camp

Most trustworthy, hardworking, and knowledgeable agents in the middle GA area! I would not go through any other team BUT them! If you worried about who you can trust and who is going to work the hardest for you, let me put your mind at ease and refer you to The Barbee Dream House Team!!! Joe and Jennifer will work their hardest for you!

 

~ Lindsay Thrasher

By far the best agents I've ever used. Great service. They go above and beyond to exceed needs. Very professional and knowledgeable.

 

~ Kathy Jarzynka

We have worked with Joe on several occasions. He recently sold one of our rental houses for us. He was also the one we bought the home from as well as another rental house that we purchased with his help. Joe has always been honest and extremely helpful. I remember one time we were looking at a house and he told us we could look but that he wouldn't let us buy this house because it had too many problems and wasn't worth buying. He was very good at the negotiations and always had our best interest in mind. We recommend he all the time when we hear someone needs a realtor!

 

~ Pam Cliffe

Joe is very honest and hard working. When I purchased my first home he took care of everything made sure my family settled in to a nice house at an affordable price.

 

~ Aaron Meredith

I could not ask for a better Realtor than Joe Barbee. He is the most honest and trustworthy person I have dealt with. He never made us feel pressured to make an offer. It was a GREAT buying experience and we are so happy in our the home he helped us purchase!! He returned every call we made to him and was available ANY time we wanted to view a listing. I will use him again and I recommend him to everyone I know looking to buy or sell.

 

~ Chrissy Todd

Joe always returned my phone calls and emails promptly which was extremely important to me as I had dealt previously with a realtor who was not very responsive. He was very flexible with the times he was available to show me houses. He's very friendly, laid back and approachable.

 

~ Jessica Gaskins

Joe Barbee is our hero! He is very straight-forward about a house's assets and sort-comings and never tried to "sell us ON a house", but instead searched high and low for the perfect home for our needs, desires, and price, so that THE HOUSE sold ITSELF to us. His diligence and dedication continue to amaze us. Our lengthy circumstances presented him with numerous challenges and obstacles in the selling of our home and the purchase of another. But he hung in there with us from start to finish. Every issue that arose was handled quickly and professionally, and usually before we even knew there was a problem! I would definitely recommend Joe Barbee to anyone looking to buy or sell real estate in Middle Georgia. We are extremely satisfied customers.

 

~ Domino Persson

Working with Joe was fantastic. He really took the time to ensure our needs were met. I have never seen anyone work harder to get the job done right and in a timely manner. Plus, his demeanor was so easy going that I truely felt that I was talking to an old friend. I would recommend him, without reservation to anyone in need of his skills.

 

~ Rachel Benton

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