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Savannah Ga Homes For Sale

Currently, in Savannah Ga and Tybee Island, there are 3322 homes for sale. This is a lot of homes for Savannah and Tybee Island to have on the market. This should keep pressure on home prices to remain stable. I don't see any short term rise in prices. It might be another year beofr we see increases in prices anywhere near the past five years.

This is good for buyers. The good news for sellers is that if you're buying in the same market then you should get a good buy, even you might not sell your home for what you were originally asking. The prospect for Savannah Ga real estate looks promising for the foreseeable future. There is a demand for housing in Savannah with more and more people moving this way.

We are fairly in demand for people retiring or looking for a second home. The question will be job growth, whether Savannah can continue attracting employers to the area. Hopefully, as the port system becomes more important on the national stage this will attract ancillary businesses that will stimulate job growth. Once the war is over in Iraq, we will see soldiers returning which will be a boon for our economy and the housing market, getting the inventory of unsold houses down.

On my website I've seen a marked increase in inquiries into the area. Many say they will buy when their homes sell. Many are planning to buy this summer. Local builders seem to be confident as they continue to build new homes, so this is a good sign -- hopefully. Our biggest problem right now is excess inventory, backed up from the national slowdown in housing sales, but, as I said, this will work itself out and I think it'll be this year. All the recent condo conversions have added to the inventory and many of these might wind up as rentals.

With lenders tightening up on lending requirementss we'll see more rentals for a few years -- this has also had an effect on the real estate market in Savannah. Lenders are looking closer at credit scores and requiring a down payment which many first time buyers don't have. These lending changes will be good for the long term strength and stability of the economy but it will have a negative short term effect on home buying.

In an online realtor group I belong to it seems to be the consensus that homes which are priced right and are in very good condition are selling well in this market, but overpriced homes which need work are lingering. Many people are no longer taking chances on homes that need work -- they are no longer confident that work done to the home will be recovered when they go to sell -- so most buyers are looking for value and condition.

It doesn't take a lot to get a home in good selling condition and the money you put into getting your home ready to sell will be worth it if it sells quickly. Another reason to get your home in good condition is that there is so much competition on the market -- you want your home to stand out. I would also advise that you or your realtor have a good internet marketing plan in place with plenty of good, quality pictures. If you are unsure of the online methods of marketing, I'll be glad to consult with you by email -- Mike@MikeFarmerRealty.com -- whether you are here locally or in Maine, I can give you tips on making your home visible online. Most buyers are starting their searches online and there are good marketing sites to be seen at.

It's a different market now and you need as much information as you can get to navigate through all the changes. I'll be glad to help.

Published Saturday, March 29, 2008 4:42 PM by Mike Farmer

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