Homeownership Still Pays

Home-equity snapshots paint a bright picture.

Many Americans have taken a hit to their home equity over the past couple of years, and some may wonder if it’s really the smartest financial decision to own a home. A recent analysis of Federal Reserve data by the NATIONAL ASSOCIATION OF REALTORS® shows the answer is yes. In comparison with renters, home owners have much greater household wealth, says NAR’s April commentary on the Fed’s Survey of Consumer Finances. Owners’ wealth exceeds that of renters by a factor of 50-to-1: a median of $205,200 versus a median of $4,200. The main wealth difference between the two is home equity, of course. No news there. But even for households who’ve owned their home only since 2003, home equity gains are the rule rather than the exception—and in some cases, equity gains have been significant. Households who bought five years ago in Honolulu, for instance, already average nearly $272,000 in equity. In Northern California (San Francisco and Oakland), the comparable figure is $105,000.

Times are tougher for home owners in a handful of economically struggling markets like Detroit and other parts of the industrial Midwest. Households in these areas who’ve owned their home for five years or less are facing negative equity, although typically not a lot. Hardest hit are households in Detroit who have been owners only since 2003; they’re underwater by a typical $39,000. That’s significant. But in other markets where equity is negative, the numbers tend to be much smaller—$1,000 in Indianapolis, for example. Yet the doom and gloom ends there. In all 150 markets tracked by NAR, including hard-hit markets, households who’ve owned their home for 10, 15, and 20 years have uniformly enjoyed strong equity gains despite the recent downturn. In Honolulu, 20-year owners have accumulated $485,000 in equity; in Northern California, the comparable figure is $481,000. Even markets in the hard-hit industrial Midwest are holding up well. In Detroit, equity for 10-year owners is more than $10,000; that figure jumps to $60,000 for 15-year owners and to $78,000 for 20-year owners. In Indianapolis, the 10-, 15-, and 20-year equity gains are $19,000, $47,000, and $68,000, respectively. The data clearly show that homeownership remains the biggest store of wealth for the typical household, even when markets are buffeted by some admittedly very rocky years.

So if you are interested in buying a home in Kingsland, GA or surrounding areas such as Saint Marys, GA or Kings Bay, GA please check out Kingsland GA Homes For Sale or Saint Marys GA Homes For Sale. If you’re looking for relocation due to military orders check out Stay Navy Homes. Looking to list your home for sale then check out Your Home Listing Specialist, and for all your real-estate needs be sure to look us up at The Royal-Skies Team at ERA Kings Bay Realty.

Get an extra $1,800 when you buy a Georgia Home

Like the federal $8,000 tax credit for first time home buyers, the State of Georgia is implementing and an additional tax credit for Georgia home buyers.

Governor Perdue signed House Bill 261 creating a Georgia income tax credit up for the purchase of an eligible single-family residence. It is a credit of 1.2% of the purchase price, up to $1,800, spread out over 3 years. Although the bill was signed the credit is limited to eligible purchases made between June 1, 2009 and November 30, 2009. The credit created by House Bill 261 can be claimed one time per taxpayer and is completely independent of the federal first time homebuyer tax credit. The final version of the bill contains the GAR amendment to clarify condominiums and residences occupied at the time of sale are eligible for the credit. In addition eligible single family residences include 1) new single family residences; 2) previously occupied residences that were for sale prior to May 11, 2009 and are still for sale after May 11, 2009; 3) owner-occupied residences with respect to which the owners acquisition debt is in default on or before March 1, 2009; and 4) residences where a foreclosure has taken place and are owned by the mortgagor or the mortgagors agent.

This news is great to know and means that it is a great time to buy a new home or research Kingsland, GA Homes For Sale, and Saint Marys, GA Homes For Sale. This information compliments of The Royal-Skies Team at ERA Kings Bay Realty.


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Reinventing a Kingsland and Saint Marys, GA Real Estate Resource

Buyers and Sellers dealing with real estate in Kingsland and St. Marys, Georgia area now have the opportunity to search for Kingsland GA Homes / St. Marys GA Homes and then view the surroundings by using Google ® Street View. The Royal-Skies Team at ERA Kings Bay Realty has completely reinvented their site providing tools to allow buyers to see homes as if they were standing in front of them…even take a walk down the street through a virtual experience.

The results have been so positive from web surfers that we placed this new technology on each of our sites. Home Buyers can research homes (sellers can see their homes) on each of our sites, including our Kingsland, GA Homes For Sale, St. Marys, Georgia Homes For Sale, Kings Bay Homes (specialized Navy site), and our site directed at retiring in St. Marys, Georgia.

Constantly researching and providing this type of useful technology is what has made the Royal-Skies Team the Internet Leader for Camden County, Georgia.



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Does the Internet Influence You When Buying a Home in St. Marys or Kingsland GA?

The Internet has revolutionized how real estate is sold. This applies nationally as well as in our local Kingsland, Georgia and St. Marys, Georgia real estate markets. Websites are popping up left and right as agents claim to be “the trusted source for real estate” in the community. As potential home buyers research website after website they find so many of the sites start to sound alike.

Research shows that nearly 80% of home buyers begin researching homes for sale in their market of choice by accessing the Internet and browsing homes from the comfort of their home office. I’ve been following this trend for years and watched the number of home buyers using the web climb from the minority to the current state with 8 out of 10 using the web.

So with this many people using the web to begin their research it raises the question: “Are home buyers influenced by the Internet?”

Before I give you my opinion on the question please let me qualify where my opinion comes from. As a licensed Georgia real estate agent and a long standing member of the Board of Realtors, it is my job to know “Georgia Real Estate” and how to handle “Georgia Homes For Sale”. BUT IT IS MY PASSION to understand how to serve home buyers and home sellers through the Internet. I have been studying Internet based real estate information for years and am widely acknowledge as the Kings Bay area Internet Expert for Real Estate by nearly all of my peers and competitors.

Again the question: “Are home buyers influenced by the Internet?”

The home buyers that are looking for guidance and education are influenced by the Internet in a very positive way. They research specific Kingsland, Georgia homes for sale or St. Marys, Georgia homes for sale (or whichever city they are relocating to), learn about financing and why getting pre-qualified is important, find a quality website that gives them an educational view of the process, and find an agent that will take care of them. The impact on these buyers is substantial as they use the Internet to become an informed buyer followed by researching and finding a quality agent that will guide them through the process. The process is less stressful for these buyers and they generally get a better deal on their home purchase.

In contrast, buyers that use the Internet simply to find homes for sale are not improving their personal understanding of the process and get little-to-no benefit…in fact they stand an 80% chance of harming their financial opportunity. These home buyers are much like the buyers from ten years ago; they get in their car (get online) drive neighborhood to neighborhood (surf the web) and stumble across a home they fall in love with. They have made the process more about the home and as a result the agent selection process is left to chance. They use whatever agent happens to be in the right place at the right time. This is surely part of the reason why 80% of home buyers will not use the same real estate agent twice. As a result they pay more, get poor terms on their contract, and often wish they had used a different agent or taken a different approach.

The beauty of this insight is this: You get to decide how you will buy a home. You can go with the old ways and leave your real estate agent to chance, or you can select an agent that is a solid educator, quality communicator, and cares more about your home buying goals than they do their personal income. Bottom Line – You get to decide if the Internet will impact how you buy your next home.


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St. Marys and Kingsland GA Homes – How to Transform a Housing Slump into Your Financial Gain

Real estate downturns in our economy typically reflect slow sales and nervous consumers. This is the case throughout the country and St. Marys and Kingsland, Georgia are experiencing the same impact on local homes for sale. So how can you safely take advantage of this market?

Interest rates are rock bottom and prices have declined tremendously. Most people realize this is a home buying opportunity but they are concerned about making a large home purchase in these troubling times. Again, how can you take advantage of this market?

If you are in the market to buy a home and live in it for a few years then you are in an excellent position. Of course the advantage of the Internet allows you to safely search for St. Marys and Kingsland GA Homes without having to make the “big” home buying decision. But then, how can you be confident enough in this market to take advantage of market conditions and actually buy a home?

There are two very important items that you have complete control over as a home buyer in any real estate market. This includes a St. Marys or Kingsland, GA home purchase!! This short article will provide you the “why” of it and you can review my Kingsland GA Homes For Sale website for the step-by-step “how” of it all.

The first thing you have complete control over is the negotiations for the home you decide to buy. You have absolute control over the way you process through the negotiations. It is very important to put emotions “in check” and evaluate the home thoroughly. This may sound like common sense but the excitement of buying a home can harm a home buyer causing them to purchase their dream home completely on emotion. A less emotional negotiation will grant you the best terms and price, creating a bargain purchase – a deal you are confident about even in our current real estate conditions.

When you, as the Georgia home buyer, get great terms at the point of negotiation you establish the beginning point for your profit (or loss). When you sell your home in three, five or ten years you have no control or idea what the Georgia real estate market will look like years from now. Seek out a professional real estate investor and ask them: “When do you determine the money you make in a real estate transaction?” Genuine, successful real estate investors will tell you they make their money based on the terms of the purchase. Based on that truth you will find that our current real estate market is a great opportunity to buy a home and to do it confidently.

The second item you have control over is the choice of real estate agent you work with. This item is discussed secondly because that’s the order many home buyers fall into. They find the home, then call the listing agent and use that agent’s services to guide the purchase process. The problem with that chain of events is that the “listing agent” represents the home seller and will keep momentum and emotion alive in the transaction. By taking control of the process, the listing agent can ensure the seller gets the best terms and price (which is their legal obligation under agency law).

For you to ensure you have the best opportunity to transform our housing slump into your financial gain you should reverse these two items. Research, interview, and select your Georgia real estate agent first. Then allow that real estate agent you personally, consciously selected, represent you in the St. Marys or Kingsland home purchase. They can represent you and your financial interests in the home buying process. Plus, as they work with you to find your dream home, they can help you keep your emotions completely in check. Once you find the Georgia home you want to purchase they can be your advocate both financially and emotionally, allowing you to make a savvy investment at the point of purchase.

Of course many real estate agents work with buyers as the home buyers “transaction agent” versus a complete, contractual “exclusive buyer’s broker” but I’ll save that discussion for my next post.



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Coastal Georgia – Active Adult Living, Golf, Marina, Gated and Retirement Communities

With the Baby Boomer generation beginning to retire there has been a recent surge in home building to meet their retirement expectations and lifestyle. Although many nearing retirement tend to look at Coastal Florida communities or Arizona golf communities, there are equal or better retirement lifestyles in lesser advertised Georgia.

Georgia is the least developed coastal state on the eastern coast. Large developers realized this a few years ago and have started developing golf, marina, and gated communities to attract active adults nearing, or in their retirement years. Unfortunately many retiring baby boomers still look towards the better known Florida and Arizona communities, not realizing they could get more home for their money by searching out Coastal Georgia homes for sale in their price bracket.

In addition to getting more home for their money, coastal Georgia offers a variety of benefits you would expect to enjoy during retirement years. Especially in Camden County which is located in Georgia’s most southeastern corner. Camden borders the Atlantic to the east and Florida to the south. The main cities in Camden County are Kingsland, Georgia and St. Marys, Georgia; both offer homes or communities designed for the active adult lifestyle.

For your retirement years imagine living in a community that rests along Georgia’s marsh-hemmed coastline, midway between the famed Golden Isles of Georgia and Jacksonville, Florida. This ideal location offers quiet intimacy while keeping an array of pleasures close at hand. Whether golfing the variety of scenic golf courses within 30 minutes of your home, boating the inter-coastal waterway, walking the beaches or touring small town charms offered by Kingsland, St. Marys and the Golden Isles…or taking a short drive to the up-tempo attractions, culture and sports of metropolitan Jacksonville, Florida (less than 45 minutes), it is an ideal location for the active adult. Coastal Georgia offers its residents an ideal blend of quiet intimacy and vibrant recreation.

Tour St. Marys, Georgia’s historic downtown (believed to be the second oldest city in the country) or visit Cumberland Island National Seashore which boasts wild horses, wild boars, camping, secluded beaches, and the historic Baptist church in which John F. Kennedy, Jr. and Carolyn Bessette were married. In the opposite direction you can take a short drive to the west to visit Georgia’s Okefenokee Swamp; a National Wildlife Refuge which covers nearly half a million acres and is known for its gators, trembling earth, and mirror-like waters.

With so much to offer in this under publicized area we fully expect our quiet corner of Georgia to become one of the retirement communities of choice over the next few years. We also believe retirees that buy or build their retirement home in our area during the economic slowdown get the added benefit of choice location and pricing. If you are considering a retirement home in coastal Georgia review my profile to see how you can put my expertise to work, affording you an opportunity to find the right home and location for your goals.



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Find Your Real Estate Niche!

Having a niche or target market in your real estate practice benefits the Georgia home buyer / seller and the Georgia real estate professional. This is especially true when you market your real estate services online.

For example: When a buyer is researching homes for sale in Georgia they typically use search phrases that apply directly to their goals. Search terms like NSB Kings Bay Relocation or Kings Bay Area Homes provide results for a site sponsored by a former Navy service member that has made various military transfers and now serves the community as a real estate agent in the Kings Bay community.

Home buyers looking specifically for Kingsland GA Homes will find them on a site tailored for the Kingsland real estate market, just as a buyer looking at neighboring St. Marys GA Homes will find them on a site tailored for the St. Marys real estate market. Home buyers can also find free access to the Georgia Multiple Listing Service by searching for MLS access where they can search all of the area homes.

Home owner’s that are looking to sell their home are more inclined to use someone they know or are referred to, but an agent that specializes in listing Georgia homes for sale can be found easily with a simple search. Home seller’s can also find companies or real estate brokerages like DitY Realty that specialize in Flat Fee MLS listings for Georgia home sellers which contrasts the traditional 6-7% commission structure.

My last example is Traci Nelson’s website. I know Traci personally and she loves working with people that are heading towards retirement. Her site, St. Marys Retirement Living is designed for people that are moving to the area as a second home, vacation home, or as a retirement home. Traci focuses on learning about gated communities, golf communities, low maintenance communities, etc. All from the retirees point of view. Her clients love her and many become adoptive or surrogate parents / grandparents to her.

Because buyers and sellers search the web to accomplish a specific real estate goal, make sure your website describes your specialization in that niche. This will provide them the confidence to work with you as a “specialist”. It will also allow you to focus your marketing dollars on a target and become more proficient than your competition. The point is that “if your marketing speaks to everyone it impacts and attracts no one!”

Make sure you love your niche and be specific enough to be the expert. Just don’t get so specific that you are only targeting igloo buyers with three legged spotted dogs that answer to the name lucky…chances are that you will capture that individual as a client but then you’ll have served 100% of your client base very FAST and then be out of business!

Share your experience…what niche are you filling or have you used?
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