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Wednesday, March 12, 2003 Low interest rates lead to strong sales for Avery Park and SummerGrove As interest rates drop to their lowest point in years, home sales at SummerGrove and Avery Park are flourishing. Since Nov. 2002, SummerGrove has had 76 home sales and Avery Park boast more than 21 sales. According to Peggy Sullivan, vice president of marketing at Pathway Communities, "In a time where many industries are struggling, the real estate industry has remained strong. Homes are selling at a fast pace in all Pathway communities." Sullivan believes the home purchasing facts speak for themselves. "For example," she said, "a family paying approximately $1,000 per month in rent could purchase a $200,000 home with payments of approximately $1,080 per month, excluding taxes, insurance or assessments. This is based upon 10 percent down and a 6 percent interest rate." First-time home buyer and Avery Park resident, Kenny Kosslow, acknowledges that the low interest rate was the deciding factor in his decision to buy. "When I factored in all the benefits of owning a home in a master-planned community, and such a small difference in my monthly budget, it just made good financial sense to invest in home ownership," said Kosslow. Sullivan 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 them vastly different than most Atlanta-area neighborhoods," said Sullivan.
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