Savannah, GA Real Estate Video Blog with The McIntosh Team

Showing posts with label market update. Show all posts

Where Is the Savannah Market Heading?

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation
Call us at (912) 658-7255 or (912)272-3463 for a FREE home buying
or selling consultation to answer any of your real estate questions.

Today, I want to give you a quick update on the Savannah market, so you can make informed real estate decisions this summer!

Conditions are great in our area right now; we're seeing a lot of activity and values are on the rise. The good news is that not only are home values increasing, but they're increasing at a sustainable rate.

We've been fortunate to see incredibly low interest rates for an extended period of time and they are still quite low. However, rates are beginning their upward climb and are likely to jump significantly over the next year or two, making now a great opportunity to lock in low monthly payments on a new home.

If you have any questions about the market in your neighborhood, or if you want to explore your options in real estate, don't hesitate to reach out to us. We're always happy to talk with you, and encourage you to do so soon!

What You Can Expect from the Savannah Marketplace

The market has been incredibly active over the last few months and we've kept very busy. In 2014, the market continued its steady growth and price levels continued to rise as well. Since the turn of the new year, the positive signs we were seeing have only accelerated!

As you know, real estate is all about supply and demand. Homes are flying off the shelf when they're priced well, staged well, and marketed well. As far as interest rates are concerned, most experts are predicting an increase in interest rates around May or June, which may have an affect on our market.

As it stands, we're heading into spring with our hands full. The market is active, and we're expecting it to get even busier as the year moves along!

If you have any questions about our market, or if you could use our help in any way, give us a call or shoot us an email at www.McIntoshRealtyTeam.com. We look forward to hearing from you soon!

How to Avoid Being Surprised by HOA Fees When Selling Your Savannah Home

There are many great Savannah, GA area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (912) 658-7255 or (912)272-3463 for a FREE home buying or selling consultation to answer any of your real estate questions.
Recently, we've received many questions from those of you who watch our videos, and we are going to do everything in our power to answer them in future videos. Today, we want to address the questions of HOA fees and how they can affect you, whether you're buying or selling.

Not long ago, we worked with a seller who ran into HOA fees and was taken by surprise. When we first listed their home, we looked at the mortgage payoff, property taxes, real estate commission, and all the things that are usually figured in to help sellers understand what to expect on the HUD statement.

The one thing the seller was not aware of was a HOA fee in the amount of $850. He didn't realize that he had agreed to it back when he purchased the house. Any time the title is transferred, under the agreement he made, he had to pay an $850 fee to the homeowners' association in order to do so.

We just want this to be a warning to you, so you aren't caught off guard when selling a home. You need to be aware of the homeowners' association fees you agreed to years ago when you first purchased your home. It's something you'll want to keep in mind and think about when budgeting for your move.

On the buyer side of things, be aware that you may have to pay an initiation fee to join the homeowners' association in your new neighborhood. They're typically not too expensive, but you need to keep an eye out for them as well.

If you have any questions about this topic, or would like real estate assistance of any kind, don't hesitate to give us a call or shoot us an email at any time. We would love to hear from you!

What Do Changing Conditions Mean for You?

The end of the year is right around the corner, so we thought we would take this time to recap what we saw in Savannah real estate this year, as well as make our predictions for 2015.

Overall, 2014 was a fantastic year for real estate in our area. Sales rose in all but one price point, with the $250,000-$500,000 price range leading the way with a 10% increase in sales! The only price point that saw a loss in sales was the $0-$100,000 range, which saw a drop in sales of 7.4% in 2014.

As far as interest rates are concerned, we've been hovering just under 4% all year long, which is fantastically low. According to Fannie Mae, Freddie Mac, the Mortgage Banker Association, and the National Association of Realtors, interest rates are predicted to rise to anywhere from 4.7% to 5.4% by the fourth quarter of next year. That increase in rates may seem small, but it will make a significant difference in your mortgage payments and your ability to qualify for a loan.

Another topic worth discussing is distressed property sales. Back in 2011, 35% of sales in our market were distressed properties. As of September of 2014, we're down to 10%! It's great that the number of distressed properties is falling, as they adversely affect varying price points. We expect that percentage to drop even lower next year.

Foot traffic rose substantially in 2014, when compared to the same time period in 2013. We're expecting yet another increase in 2015, which is a great indicator of how active the market is going to be. Let's just say we're excited for what the new year is going to bring us!

If you have any questions about market conditions, or would like real estate advice of any kind, don't hesitate to reach out to us. We would love to help you solve your real estate problems!

We hope you have a safe and happy Christmas and New Year! We look forward to talking to you soon!

Improving Real Estate Market in Savannah

Looking to buy or sell a home in Savannah, Georgia? Click here to perform a full home search, or if you’re thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today’s market. You may also call us at (912) 658-7255 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today I'll be updating you on our real estate market here in Savannah in order to better serve you. To start, I'll just briefly touch on 2013, where we saw prices stabilize and interest rates remain low to push buyers forward into the market.

What 2014 has Brought Us...

Market activity has nearly doubled since this time last year.
Interest rates are still very low, which aids both buyers and sellers.

Home prices will continue to rise, which sellers will like to see. But buyers will probably like this too, as they will know that the home they have purchased will appreciate in value.
Low interest will keep buyers excited about purchasing, and this in turn will help sellers to close their properties faster as interest rates are expected to rise as we head into 2015.

New Office on Wilmington Island

I am also proud to announce that we will be opening a new office on Wilmington Island that will be affiliated with Keller Williams. We will be located on Johnny Mercer Boulevard in Mercer Plaza. Feel free to drop by and say hello sometime. We are very excited about our new location and would love to help you with real estate in that area.

As always, feel free to give me a call if you need any assistance finding real estate in Savannah, or if you have any other questions you would like addressed. You can reach me at 912-658-7255 or email me at TheMcIntoshTeam@gmail.com

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Why work with us?

The McIntosh Team's goal is to provide their clients with service that is second to none. As Savannah natives, they pride themselves on their ability to share their knowledge with buyers who may be moving to the area, or have found their dream home and need a team of professionals to assist them in getting it for the best price possible. The McIntosh Team provides sellers with accurate market statistics, aggressive pricing, and marketing strategies that will ensure they get top dollar for their home.

The McIntosh Team does such a great job meeting the needs of their clients that over 70% of their business comes from referrals. They have a wealth of knowledge and expertise about buying and selling and are proven professionals, with distinctive awards for their expertise and commitment to their clients. They keep the lines of communication open, so your questions about the process are promptly answered. If you want a smooth and successful real estate experience, the McIntosh Team is only a call away!

Jason & Christina McIntosh
The McIntosh Team
329 Commercial Drive, Ste. 100
Savannah, GA 31406
Phone: 912-436-6551
Mobile: 912-272-3463
Fax: 912-356-5101
themcintoshteam@gmail.com

What our happy Savannah clients have to say

Click to hear recent
testimonials from happy clients

Bryon - " They were always there when I needed them."

Geraldine - " The McIntosh Team did what they said they were going to do. "

Tim - "I have both bought and sold homes through the McIntosh Team and they are really knowledgeable about how to get the best deal, what the price should be, and how to move it quickly."

Shelia - "I was very pleased with the McIntosh Team. They immediately started marketing for it and had a professional come to take the pictures. They were on the ball the whole way and I didn’t have to chase them down to get answer. Everything moved right along and it sold within a week of being listed!"

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