Supply continues to exceed demand for the inventory of listed properties in Americus, Ellaville, and the surrounding area. While several listings expired at the end of 2009, some of those will be renewed. We began the new year with 156 residential listings, down from 163 on the last day of December. Land listings dropped from 87 to 75 while commercial listings held steady at 26. The number of qualified (meaning able to get financing) buyers on any given day can be counted on one hand. It's no wonder we have so many unsold properties. Many have been on the market a year or longer without an offer. Realtors and their sellers may hope that the real estate market will be like the natural world in the spring, and come back to life. As a business person, I'm supposed to be optimistic and upbeat, and tell you the market will soon bounce back. Well, sorry, but I don't think it will in the first half of 2010. No rose colored glasses here. I won't pretend to be an economist and give you all the reasons for my less-than-optimistic stance. Let's just say, the indicators give me no reason to think we have yet hit bottom in this recession. Unfortunately for sellers, market conditions do not bode well. For qualified -- there's that word again -- buyers, it's a time to bargain for the best deal, and keep more money in your own pocket. It's a good time for investors who buy low-priced houses, rehab them if necessary, and rent them out. The demand for rentals has skyrocketed in the past year. Half of my calls are from would-be renters. As just one example of the properties investors can buy now, I have a brick house at 205 Rucker Street in Americus with two bedrooms, two baths, and 1,480 square feet, priced at $39,500. The out-of-state owner wants to unload it. Granted, it would take $10,000-$20,000 to upgrade bathrooms and kitchen, replace floor coverings, and turn this house into a really nice home, but the return on investment probably is there for the savvy rental manager. Many gems like this one need to be polished up, and made available to a waiting rental market. If you might like to see any property in the Americus area Multiple Listing Service, regardless of the listing company, call me at 229-924-3089. Please visit one or all five of my real estate websites. There's michaeldixonrealty.com or clientrealty.net, to name but two. Let me advertise your property for sale in Premier Monthly magazine, which is distributed monthly to over 3,000 locations in eight Southeastern states. See it online at premiermonthly.com.
Southwest Georgia residents now have a special place on the Internet to ask questions about real estate -- real estate in general, and the Americus and Ellaville, Ga., area in particular. It is: http://americusgarealestate.net. Go there now by clicking on the link, or read more about this new website for real estate information.
The website allows you to post your questions, or provide answers to others' questions. The website host, Michael Dixon, will answer questions, but anyone may offer a response. You log in with your user name and password, and then return any time you wish to access the site.
You may tell everyone about your real estate for sale, or tell them what you are looking for. You might make just the right connection.
Post notices of events of interest to the general community. Use this website as a bulletin board.
See you soon.
This is big: Schley County schools are No. 1 in the state for college enrollment by graduates. This, at least, is what I gather from an email sent out by John T. Greene, coordinator of Schley County Family Connection.
If it's true, this needs to be shouted from the rooftops. (If you need a rooftop of your own, I will sell you one.)
The school system has, more than any other one thing, put Schley County on the map and turned it into a destination for new residents. Numerous new houses have been built to accommodate the newcomers who have enrolled their children in Schley County schools. The system's reputation for excellence is top-notch. And now this latest accolade reinforces an already sterling rep.
Past and present Schley County school administrators, staff and faculty deserve much praise for their good work. And let's not forget the students themselves, who take education seriously and strive to be the best they can be. They have much to be proud of.
Spring is here. This should be the peak season for buying and selling residential real estate. But even the "peak" season this year is not as good as a poor season in years past. We all are victims of a major economic downturn. But ... take heart! After the market hits bottom there's nowhere to go but up. Get on board. What are the smart people doing? They are investing in tangible goods including homes and land. They are taking advantage of a buyer's market. A large inventory of unsold properties, and low interest rates, have put buyers in charge of the market. Are you taking advantage of buying opportunities? I use those words "taking advantage" guardedly. Please don't follow the example of some buyers by making such a low offer on a property that there's almost no chance of making a deal. Not all sellers are desperate to unload real estate, and they will not entertain offers that border on insult. On the other hand, many bargains are there for the taking. In our own area around Americus and Ellaville, Ga., we have the most houses for sale right now that we have had in my 13 years in this real estate market. Many sellers are ready to deal; they just want to be treated fairly. Mortgage money is available from a wide variety of sources, and lenders are eager to work with you. If you are thinking about buying real estate, and have not been pre-approved for mortgage loan, talk with a lender soon. The pre-approved buyer always has the advantage over one who hasn't bothered to nail down the source of a loan. I've said this a thousand times, but here I go again: Whenever possible, work with a local lender, someone who is a part of your community, someone you may see at the grocery store or gas station. Local lenders share your interest in your community because it's also theirs. And they compete for your business. May I get a bit personal? I recently listed a very nice property in a very nice neighborhood in Americus. If you know someone looking in the $250,000 range, please tell them to call me. (229-924-3089) There are some nice properties priced well under that figure, too. If you are thinking of buying, you need to be looking now. If you are thinking of selling, price your property to compete. You may want to give it a spring makeover. If you would like to have my personal advice, without obligation, please get in touch. Best wishes, buyers and sellers.
It's a rainy day in Georgia, or at least in my part of it. After a low of 18 degrees Thursday night, this rainy day is comparatively warm. Great day for staying in and writing a blog entry. Yours truly listed a property in Sumter County last week. It's a nice country place. House with three bedrooms and two baths on 5.69 acres with a red barn. Located at 582 Ga.Hwy.49 S, which is southwest of Americus. $75,000. Monday is the official Martin Luther King, Jr. holiday, and the next day we swear in our new president, the nation's first African-American. In my lifetime we have seen men land on the moon, and now this monumental event in our nation's history. Americans can now choose to mope around and talk about how bad the economy is, or adopt a positive attitude and resolve to forge ahead as a great people. Someone once said, "Ninety percent of success is having a positive attitude." Currently, I'm involved in my first "short sale." It's a situation in which a property is being sold for less than the borrower owes on it. I'm the listing agent, so I'm doing my best to make sure my client is protected to the extent possible. To be candid with you, I have been a bit apprehensive about being paid my commission. Likewise, the selling agent wants to be sure he is covered. My conversations with the lender's representative have been reassuring, and the preliminary closing document shows the commission. We Realtors work for nothing right up until the moment of closing. I would hate for that time to come, and have to leave empty handed. There are many hoops to jump through between here and there, and it would be nice to be compensated. Seriously, I'm not worried about it, but this is a first-time experience for both me and the selling agent. At the moment, I must get ready to run an errand, so will sign off and post this soon. Happy New Year everyone! And let's do what we can to make it a prosperous one.
Michael Dixon Realty is an Internet-based, full-service brokerage. My lean, low overhead operation translates into greater cost effectiveness for clients. Slogan: This Is Real Estate Today.
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