Good evening I hope everyone had the opportunity to enjoy the gorgeous weather we had this weekend, I did marched with the Hinesville/Ft Stewart Shrine Club in the Claxton Rattle Snake wildlife parade Saturday morning and drove in the Tybee Irish Heritage parade that afternoon, then enjoyed coastal Liberty county for Dinner with my wife. Here is your Hinesville – Fort Stewart residential real estate report for the week ending 10 March 2013. According to the Hinesville MLS in Liberty and Long counties there are 533 residential properties for sale which is -7 from last week, of those;
76 are foreclosure properties – 4 from last week
81 are builder properties + 7 from last week
We have 110 pending sales + 7 from last week, of those:
32 are foreclosures +2 from last week
20 are builder properties – 2 from last week
We had 10 closed sales during the reporting period.
I recently have had several discussions with various folks about real estate investing, my thoughts are that even with the current economic uncertainty there are still great investment opportunities. Good landlords that take care of their properties and price them correctly will have no problem making money in our market. On a broader scale real estate investing is based primarily on math, if the math doesn’t work then the deal will never be profitable. When looking to buy investment real estate you should hire someone that understands how to complete a financial analysis of your deal, if they look at you with that dear in the head light look when you ask about a financial analysis, run the other way. A few months ago a peer called me about “a deal” my first question was, what is the CAP rate, his answer was I don’t use a cap rate. At one time in my career I probably would have said something similar, however I believe when representing a client it is my responsibility to understand all aspects of a deal and if I am touting that I sell investment real estate I must certainly understand it. As an investor you should understand CAPS, individual rate of return, and before tax and after tax discounted cash flow. Give me a call today and let’s talk about real estate investing. Have a wonderful week everyone. Spring is in the air!! Enjoy It give me a call and let me show you the way home!!