Savannah homes -- 6 keys to selling quickly

Although I work mostly as a Buyer Agent in Savannah, Ga., my experience in real estate confirms the below article's 6 keys to selling your home.

http://rismedia.com/2012-05-13/six-keys-to-selling-your-home-in-todays-market/?utm_medium=twitter&utm_source=twitterfeed.

All six keys are important, but pricing a home is probably the most important key at this stage of the real estate recovery. Having worked with many buyers in the Savannah home market , this recession has caused buyers to have little patience with over-priced homes. If your home is in great condition and is ready to move in without the buyer having to do a lot of work, that's good, but understanding that distressed homes do have an effect on overall prices is important to pricing your home right. Many buyers have made up their minds that they will buy a distressed home and put the work into cleaning it up and doing some repairs if the price is right, so these homes are definitely competitive.

A good listing agent will tell you straight what affects your price. Still, as the ariticle says, curb appeal and no clutter and good condition are still very important, because not everyone wants to do a lot of work after buying a home. So, if you have everything in place, plus a good competitive price, and you negotiate realistically, you shouldn't experience any major problems selling your home. Lately, in Savannah, I've noticed a pick up in home sales, but I've also noticed that pricing is more rational.

Savannah Ga -- New home permits up across the country

New home permits are up across the country, so this is a good sign. My business has been stronger since the first of the year. We still have a long way to go because of foreclosures, and no one is sure what government will do to deal with foreclosures. Several programs have been discussed to re-negotiate mortgages.

You might get confused if you're waiting on government to decide what to do in an election year. Long term I feel positive about Savannah. I can't speak to foreclosures or government programs, but I know that Savannah has become a popular place for people to live and people need homes, so that's about the extent of my vision.

Seriously, giving advice in this market is dangerous, so I won't give advice. I can tell you, though, that since I moved to Savannah in 1993, I've loved every minute of it, and I don't regret buying my home, even with the downturn of the last few years. I'm in it for the long term, and I feel good about the long term prospects of real estae in Savannah Ga.

Savannah real estate market

http://money.cnn.com/2011/08/30/real_estate/home_prices/index.htm?iid=SF_M_River

Like the rest of the country, the real estate market in Savannah is a mixture of good and bad news. There's some evidence that prices are stabilizing, but, then, after a short moratorium on foreclosures, because banks had such a backlog, foreclosures are now picking up, which could lead to downward pressure on prices. This is good for buyers, but bad for sellers. 

Although prices have been falling, most owners are now pricing their homes at more reasonable starting points, and the amount they will negotiate off the asking price is significantly less than at the beginning of the housing crash. Buyers sometimes get the wrong idea that all sellers are willing to take much less than advertised. Many sellers are simply holding off selling unless they absolutely have to sell. A lot of sellers are renting their homes. There are short sales on the market, but they are a nightmare, so if you are trying to buy a home where the bank has agreed to a short sale, have patience, because it can take months to get an answer. Foreclosures can be attractive because they are usually priced low enough to make financial sense, but most foreclosures need repair work, so make sure you get an estimate on repairs.

Some experts believe that the market is too risky and that now is not a good time to buy. I'm not sure anyone knows what will eventually happen in this market, but it's not the end of real estate, and people will still buy and sell homes. It's my opinion, always being a contrarian, or most of the time, anyway, that now is the time to buy the right home. What is the right home? Well, one you want to live in for a long time, or one you believe is a good investment if you want to sell in a few years. The right home for someone who's looking for the comfort and freedom of owning their own home is as it's always been -- the home that you feel good about going to everyday and perhaps raising a family or entertaining in or just having your special, private getaway from the world which you can make-up to fit your personality and spirit -- and hopefully build equity in.

As for investments, buying a foreclosure or distressed property which doesn't require a lot of money to fix up is a good idea in this market, because we'll probably not see prices like this for a very long time. It takes speculative courage to invest in this market, but with Savannah being a popular place with a diverse economy, when recovery begins, Savannah ought to fare better than most places. I don't think prices are going to fall much more than they already have in Savannah, but no one can promise anything nowadays except things will change -- I'm hoping the change will be for the better, and all the evidence I see points to the worst being over. 

Savannah could face housing shortage

In a Realtor Mag article experts are predicting a housing shortage nationwide of about 16 million homes in the next decade. If Savannah real estate is any indication, home construction has dropped off significantly -- because builders aren't building many homes but people are still making babies, it only makes sense that there will be a housing shortage -- this will put pressure on prices again -- I just hope we're able to avoid the boom and bust cycle.