Local Market Insight

BROKER'S CORNER -- 'THE VALUE OF THE REAL VALUE'

One of the big questions for sellers and buyers in the real estate market is that of value; what's this property really worth? Market value, by definition, is what a ready, willing and able buyer is willing to pay for the property. And, of course, what a seller is willing to sell for. When these two sides shake hands, and when the transaction closes, we have established market value -- historical value, it's called.

YOUR AGENT SHOULD BE KNOWLEDGABLE -- AN UNDERSTATEMENT! Last week found me in the mountains of North Carolina and in the back seat of a Realtor’s car doing what we in our business love: looking at property. Miss Paige was up front conversing with and asking questions of our driver. Although not my style, I sat mostly quiet in the back seat observing and listening. 

What came clear in this experience was a reminder that we Realtors are not just tour-guides, but professionals in our market place and valuable to our customers and clients. An old broker buddy once told me of his learning curve with young bucks he hired out of college when computers and electronic data bases were first being ...

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!

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...