Real Estate News

…that is the question that seems to be recurring these days. With the length of time on the market increasing for many homes, people begin to wonder if open houses really do work.

Let’s look at some of the positives. Holding your home open allows buyers to view your home without making an appointment and in the best light. When your home is being held open, you have advanced knowledge and time to prepare. Therefore, your home should be in the clutter ready and show ready.

Open houses allow your neighbors the opportunity to see your home. While this may not seem like an advantage, it really is. Neighbors want good neighbors. If they know someone that is moving or meet someone that is moving, they will tell them about your home.

If your home does not meet a buyers needs or likes, they may know someone that is looking for a home like yours. Also people that are planning on moving and just looking, may end up buying your home.

An open house is your home’s time to shine. It should be a time to call attention to all the features that make the home unique.

But what are the disadvantages? There are fewer disadvantages to holding your home open. The biggest drawback, I believe, would be holding too many open houses. Your home should not be open once a week. Too many open houses can make you look desperate to sell. The next drawback is you are opening your home to strangers. If you listed with a real estate agent, they probably made you sign a waiver of liability of stolen personal property. While the agent or you will be there, there may be too many people to watch all of them. All your valuables and sentimental objects should be placed somewhere safe and hidden from view. The last drawback for an agent hosted home is what to do with your time.

When it comes down to it, the advantages do outweigh the disadvantages. Also in a slow market, you should use any available means to get your home seen by as many people as possible to increase your chances of getting that sale.

Homes can be great investments, but that should rely too much on home equity as a source for retirement. Equity is still a benefit to home ownership along with many other reasons. According to an article in the Pittsburgh Post Gazette, more than 80 percent of American over 65 own homes. The total value of those homes is around 4 trillion dollars, which is about one-third of their wealth. Home equity can be a great supplemental income for seniors.

Regardless of the benefits, a home shouldn’t be a substitute for a pension, 401(k) plan or IRA. Over long periods of time, residential real estate usually generate lower returns than stocks or bonds. The price you get for your home is dependent upon the market. If you are selling at a good time, you may do very well. If you sell at a bad time, you may no longer have the retirement money you were expecting.

Compared to stocks and bonds, on average homes produced 4.6% less inflation-adjusted compound returns. Even on West Coast where homes appreciated the most, bonds still did slightly better. However over  five- and 10-year periods, the average annual return on residential real estate has been slightly better than the return on U.S. Treasury bills.

In conclusion, your home should never be considered a retirement fund or piggy bank. A home should be a place for memories to be made. Any money produced by the sale is just a bonus.

Pooler, Georgia is located southwest of the downtown Savannah area. If you are traveling North on I-95, Pooler is to the left off exits 102, 104, and 106. It’s a growing area with a community feeling. There are new communities and retail businesses being built all over. There is already something for everyone here but adding more variety and choices.

For the golfers, there is the Crosswinds Golf Club. It has a championship 18-hole course along with a 9-hole par 3 course, which is the only one in this area. They are also full lighted so that you can enjoy even at sunset.

If you like Nascar, we have the Oglethorpe Speedway. It opened in 1951 and has entertained people ever since. It’s half mile track hosted the NASCAR Grand National Series in March of 1954 and 1955. They have different events and divisions to choose from. So if you want a racing experience, you don’t have to go far.

For the military and history buffs, there is the Mighty Eighth Air Force Museum. It opened in Pooler in 1996. The museum is for the 8th air force that was activated in the National Guard armory of Bull Street after the Pearl Harbor attacks. It was only fitting that the museum be built in the Savannah area.

If you moved to the Savannah area, you obviously like having the ocean nearby. But did you know you can take kayak and canoe trips here in Pooler. The Ogeechee River Canoe and Kayak Rental is located in the Tom Triplett Park. You can even bring along your fishing gear for fresh water fishing fun.

That brings me to the Tom Triplett Park, which has the Savannah Disc Golf Course. It has tennis courts, a big stately pavilion, public bathrooms, two piers, a smaller picnic pavilion and a playground. It’s a great place for rollerblading, walking, biking, and kayaking.

I saved the best for last. For families with children or adults that are still children themselves, there is the Five Star Family Fun Park. They have several go-cart tracks, an outdoor playground, and then the indoor fun. Inside they have arcade games, party rooms, food, and plenty of fun. So no matter the outside conditions, you can find a place to keep yourself or the kids busy inside.

Remember, these are places near Pooler. Don’t forget, you can always go into Savannah for more shopping and restaurant experiences. In the warmer months, there are the islands and beaches. So get out there and experience all that Pooler and the Savannah area have to offer.

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There are quite a few events coming up. I found one event to be really interesting. On Valentine’s day, couples can get married or renew their vows at Tybee Island. The event will start at 7 pm and go until 11 pm. I would imagine that with the beach behind you, the night will be truly romantic.

For you early birds, there will be a reading of “Love” by Ruby Valentine in Barnes and Noble at the Oglethorpe Mall. So if you aren’t working or can get out, try to meet your loved one for a mood setting event.

For more information on this weeks up and coming events, they are located in the Savannah Now Morning Newspaper or Online.

While doing my usually research on the internet this morning, I came across an interesting article on the New York Times website. According to the article, there are mortgage lenders and brokers that are swearing to a code of ethics. They are guaranteeing that all the fees you will receive will be disclosed and unchanged. The site, loan.com, watches the lenders and brokers by secretly applying for loans. They also investigate any consumer complaints.

If the lender or broker is found to have poor customer service or such, they are given a second chance. They do not get a second chance if they have committed a major violation.

Lenders and Brokers are interviewed and checked against better business bureau records before they are allowed on the site. This is to prevent any unethical lender or brokers from appearing on the site.

The site just opened last month. They say the are there to protect the consumer. As of the 2nd of February, there were 50 mortgage brokers and lenders listed.

109 Village Drive in Guyton has just been listed. The home is situated on a 0.86 acre lot. The rear of the lot is wooded giving a sense of peaceful, private living. The custom built deck is perfect for entertaining or just slipping into your own little get away. The covered buildings allow for outdoor fun no matter what the weather. There is a two car detached garage with an extra wide driveway to accommodate all your guests. The home was built in 2001 in the Lee Village Subdivision. The home has hardwood floors in the entryway and hall, carpet in the bedrooms, living room, dining room, and family room, and vinyl in the kitchen and laundry room. The living room has a vaulted textured ceiling with a gas fireplace. The kitchen has a breakfast area, a smooth top electric range, built in dishwasher and microwave. The extra large family room can be used for family gatherings or for a game room with a pool table, foosball, etc. The possibilities are endless. The master bedroom has a textured trey ceiling and is separate from the other bedrooms. The master bathroom has a large whirlpool bath tub that is perfect for relaxing. There is a separate shower, double vanities, and a walk in closet. The other three bedrooms and a full bath are on the other side of the home. Call me today to schedule a showing!

View Photos of Village Drive

I have decided to do monthly market reports. I will give you the numbers from the first of the prior month until the first of the current month. For instance, today’s market report will cover January 1st, 2007 through February 1st, 2007.

There are currently 547 active listings. Of that, 472 are single family homes and 5 of them are “active contingent”. Active contingent means the home is still shown although there is a contract on it. There are 143 listings that are under contract and 36 that have sold. The average sales price was $229,925.

The mortgage rates have gone up slightly in the past couple of weeks. Today’s current rate from bankrate.com is 5.85% for a 30 year fixed home loan. A local company said that their rate is 6% with full documentation on a 30 year fixed home loan. Keep in mind, these rates are based on credit score. The lower the credit score, the higher the rate.

Address of Homes that Recently Sold:

826 Quacco Road
198 Wallace Drive
3710 8th Street
205 Appleby Road
314 Pine Street
86 Rommel Avenue
117 Berwick Lakes Boulevard
25 Parish Way
15 Pinehurst Lane
217 Cassidy Way
3 Gimbal Circle
8 Colson Drive
215 Chipping Woods Circle
211 Chipping Woods Circle
12 Springwater Drive
112 Yellow Jasmine Court
309 Moore Avenue
229 Morgan Pines Drive
154 Nandina Way
113 Tappan Zee Drive
19 Ravenwood Way
1902 Hwy. 80
130 Fire Thorn Lane
126 Morgan Pines Drive
128 Morgan Pines Drive
157 Village Lake Drive
100 Quiet Pine Circle
5 Silver Oak Court
1021 Woodland Drive
104 Southernwood Place
137 Steeplechase Court
110 Wedgefield CS
102 Wedgefield CS
35 Enclave Circle
10 Reed Grass Lane
102 Grand View Drive

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