Broker's Corner July 15

Wed, Jul 19th 2017 12:30 pm by Allison VanderVeer Local Market Insight

INTEREST RATES.

Many years ago, when I broke into real estate sales, mortgage interest rates were pushed to nearly 19% for a brief period; that was the end of 1980. I had borrowed money for one of my first homes at 11.125 % in 1979 and considered myself lucky!

But these historically high rates began trending downward, making housing more affordable for more people.Rates hovered around 12% in the late 80’s, and the 8% range prevailed during most of the 90’s. The turn of the century saw rates begin to drop into the range of today’s fabulously inexpensive range under 5%; 3.5% to 4.5% is where we have been for the last several years.

It’s fair to assume you and I couldn’t afford the hous...



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Broker's Corner

Wed, Jul 19th 2017 12:27 pm by Allison VanderVeer St Simons Island Real Estate

BROKER'S CORNER FROM JULY 1:

In our business, these are heady times; rentals are strong and sales prices are moving up. If you want a south end cottage it'll cost you upwards of $400,000. If you want 'walk to the beach' or closer, you'll begin to find cottages at the $550,000 and (quickly) up range. True walking distance to the beaches begins at $700,000.

We're not overheated; it's a shortage of inventory issue in both single family and condos. If pricing drives your interest, then a condominium purchase may be more attractive, for your first property here; prices start at about half of single family. I want to share some interesting information gleaned from our multiple listing...



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SSI Update from Roland Daniel: March 2017

Mon, Mar 13th 2017 12:13 pm by Allison VanderVeer St Simons Island Real Estate

LONG OVERDUE SSI UPDATE FOR 2017. It's been a while since I posted the 'STATE OF REAL ESTATE' here on Saint Simons Island AND Coastal Georgia. So, here goes, from Roland's point of view.

2016 was a very strong year of recovery for real estate here in the Golden Isles. Indeed, our recovery began 2013 after the nightmarish 6 years of local downturn that began in early 2007. Actually, we couldn't see it, but things died in the fourth quarter of '06.

Then business began to return and we noticed LESS FORCLOSURES and LESS NEW LISTINGS and MORE INVENTORY TURNOVER. The upturn in business began in earnest, and without hiccups, in 2014. Slowly at first but now quick-paced, the market is heating u...



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2017: Local Market Insight

Mon, Dec 5th 2016 9:57 am by Roland Daniel Local Market Insight

December is here marking the end of another year of real estate recovery for the Golden Isles. St. Simons Island and Brunswick markets are 'back'! That's no exaggeration, as we have experienced a 25% growth in our business at Roland Daniel Properties.

All facets of the SSI market are up: condos, single family, homesites.

I expect the trend to continue in a steady climb for 2017. We've been short of inventory, making way for the new construction pace to increase and be absorbed. Here's something to watch: As prices climb, those who have been upside down in value since the recession will find themselves in position to put properties on the market. Thus, we should see more inventory come...



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