Good evening, I hope everyone had a great Labor Day weekend and safe end of summer celebration. I have been so busy with all of the things I am involved in I just have not had time to write this blog. Our real estate market is very active at certain levels, the local pending sales show that the market is largely a $160,000 and below market as we have 138 pending sales and the first 100 are below th$165,000 and there are only 17 above the $200,000 price point. My opinion is there is a lot of value shopping, as we try to shake out the foreclosure market. Here is your Hinesville – Ft Stewart residential real estate report for the week ending September 8, 2013, according to the Hinesville MLS in Liberty and Long counties there are 490 residential properties for sale which is -21 from the last report!; of those,
35 are foreclosures -10 from last report
69 are builder properties – 7 from last report
There are 138 pending sales +6 from the last report, of those;
38 are foreclosures +3
33 are builder properties -4
There have been 24 closed transactions in the last 2 weeks.
I was recently on a panel of speakers for a local real estate event and the question was asked “given the recent real estate crash is it wise to buy a house?” The question was not mine, however when it my turn to speak and I finished my questions I circled back to that question as I feel there is a lot of skepticism with the younger generation and this was my answer, “I feel that buying a home to live in is still the American dream, in our local market there is a significant amount of equity out there that is just waiting for someone to buy it. As an investor I am looking for that equity and you should be to. Real estate is a local event and unfortunately the media has not done a great job of promoting that.” I hope everyone has a great week, when you think of real estate think of me and let me show you the way home!