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Wednesday, January 9, 2002 Interest rate drop creates sale surge at Avery Park, SummerGrove As interest rates remain at their lowest point in years, home sales at SummerGrove and Avery Park are flourishing. Since November, Avery Park has had more than 10 home sales and SummerGrove has had nearly 30. According to Dan Camp, vice president and general manager at Pathway Communities, "In a time where many industries are struggling, the real estate industry has remained strong. Home sales are higher right now in all Pathway communities than at this time last year." Bill Brewer, mortgage lender at BB&T in Newnan concurs with Camp on the resilience of the residential real estate industry and believes that the home purchasing facts speak for themselves. "For example," says Brewer. "A family paying $1,250 per month in rent could purchase a $173,500 with payments of approximately $1,283 per month. This is based upon 10 percent down and a 7 percent interest rate." Brewer also adds that with all the benefits of owning a home, and such a small difference in the monthly budget, it would make very good sense to invest in home ownership Camp believes the sales success behind SummerGrove and Avery Park is a combination of the low interest rates and each community's diversified price range and product mix, topped off with great amenity packages. "Both SummerGrove and Avery Park cater to a wide range of home buyers, which make the community's vastly different than most Atlanta-area neighborhoods," concludes Camp. For information on Avery Park, call 770-252-9100 or visit www.averypark.com and for SummerGrove information, call 770-252-9000 or visit www.summergrove.com.
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