Savannah Real Estate -- Challenging Appraisals

http://www.8newsnow.com/story/16106011/real-estate-tug-of-war-on-appraisals

As stated in the article linked to above, laws regarding appraisals have changed, so before taking an appraisal at face value, find out about who did the appraisal and then assess whether the appraiser is competent and objective or not. Many buyers and sellers don't know that an appraisal can be challenged. As a Buyer Agent working for buyers in the Savannah Ga real estate market, I want my buyers to have all the information they need to make an informed decision, and the appraisal process is an important aspect of successful real estate transactions. Being fully informed in this market is critical.

Beware of dishonest agents

Most of the agents I deal with in Savannah Ga are honest, professional real estate agents, and I suspect that the majority of real estate agents serve their clients well, but, as in all professions, there's a certain amount of gamesmanship and trickery. Below is a link to an article about dirty tricks to be aware of when using a real estate agent:

http://www.perthnow.com.au/real-estate/real-estate-agents-dirty-tricks-revealed/story-e6frg3o3-1226163121131

Rising home sales in August

Due to about a 5% drop in prices from last year, low interest rates and rising rental prices, home sales increased 7.7% in August. I'm seeing the same trend in Savannah, Ga real estate.

It appears that buying conditions have become favorable for homebuyers and real estate investors, and they are taking advantage of it.

Guest blog about Savannah and Savannah real estate

Paige Taylor is a creative writer from the University of Texas El Paso. As an aspiring writer she specializes in writing about travel destinations and tourism. Below is Paige's guest post:

Savannah continues to grow as a living hotspot

Throughout the country, the city of Savannah has long been known as one of the prime vacation spots in the United States. The city has established itself as a departure from regular, tourist trap style vacation destinations. Rather than theme parks and resorts, the culture and history of Savannah gives vacation goers a departure from the regular getaways. Although the city has been known primarily for its appeal to tourists, Savannah is continuing to become a living destination, largely contingent on northerners moving to the south.

Over the past few years, people looking for a place to live have reestablished the value of other characteristics besides the specs of houses and apartments. Many of the same things that attract vacation goers to Savannah also attract young professionals and northerners looking for a great place to live in the south. The city offers a supreme blend of art, culture, history, and tradition. Savannah also offers several other benefits as a living destination such as the climate, housing prices and growing sector for young professionals.

Although much of the southeast is regarded for its hot and humid summers, Savannah is often known for having a better climate than most areas. The city doesn’t really experience much snow and moderate temperatures usually blanket the city for most of the year. Of course the summers can be a little hot, but it’s hard not to find a place with hot summers in general.

Along with the great weather, the housing costs have been a great attribute for swaying new residents into the area. Savannah area apartments, condos and houses are considered lower than most places. The city also offers a mix of different types of housing locations for anyone moving. The historic district offers some houses and properties that are filled with tradition, while outskirt areas offer some luxury residences.

While you wouldn’t necessarily peg Savannah as a hotspot for young professionals, the city has started to attract some fresh college graduates over the years. Because the area offers a great mix of suburban living with some low key downtown living, it’s attractive to a wide array of young adults. The area also boasts multiple social groups for young adults and professionals.

Of course there are numerous other reasons why people are flocking to Savannah to live these days. Perhaps the most important thing about the city is that it attracts a wide variety of people who are looking to blend culture, artistry, and tradition with professionalism and entertainment. Expect the city to continue to attract more residents in the near future as others throughout the nation realize the extensive benefits of residing in Savannah.

Three things a home buyer should think about

Yesterday I received a call from a potential homebuyer from Phoenix who was doing his homework before making a move to Savannah. As he reminded me, there are a lot of stressful concerns moving so far away to a place that might be culturally different and a place you know nothing about.

As a buyer's agent, this is what I do on a regular basis, give information. One of the first important actions to take when moving to a strange place is find out about the place and try to find an agent who will give you good information. This potential buyer asked what are three things a buyer should think about in this market. I told him that first a buyer should be ready to live in a home for five or more years, then make sure that he not buying more than he can afford, then to take his time to make a truly informed decision.

During the housing boom, there was a general notion that you could buy a home and sell it for a profit within a year or so, but this is no longer the case. There's no guarantee that prices won't fall a little lower in the next couple of years, but, from all indications, within five years the market should be stable again. With the economy still shaky, even though buying a home still makes sense, overloading yourself financially is not a good idea, so buying a little under what you can afford is probably a good idea -- one good thing about this market right now is that interest rates are very low, so you can buy more home and keep your payments reasonable. But the third thing is probably the most important -- taking your time and gathering information so that you make an informed decision. When the housing market was hot, people felt pressure to buy before someone else bought the home, but now you can take your time and find the right home at the right price with the best terms and conditions.

This is definitely a buyer's market, and as a buyer's agent I feel good about working with clients knowing that they are getting all the information they need to make good decisions.