Caroline Ashe Your Source in Augusta, GA Real Estate October 24th, 2008
This morning, I took a look through the Augusta MLS to see the number of residential listings for sale today. Then I compared the numbers to my last Augusta real estate market report, which was on April 7th.
[First # is the number of homes for sale on April 7th, 2nd number is homes for sale today, followed by % change.]
The inventory is static or decreasing throughout our area. But one of the most desirable areas that I cover, that being Evans / Columbia County, shows increasing inventory. This is a trend we’ve seen for a while now.
In Augusta there has been an influx of large companies coming into the area over the last year, with hundreds of new jobs being created. That certainly helps explain the decreasing inventory in that area and North Augusta.
Decreasing inventory is great for home owners & sellers, as home values start to rise. Less inventory is bad for buyers and of course your humble real estate professionals, who fight for a smaller slice of the pie. But hey, the cream always rises to the top, does it not? I welcome competition .
One thing I have seen is that the rental market is staying strong. While I don’t handle rentals, it’s not unusual to get several queries a week about them. Despite interest rates being low, and the housing market offering lots of inventory at great pricing levels, many people still choose to rent. It’s a perfect storm for landlords- being able to increase their number of units at low pricing levels with strategic buys, and keep them occupied. I work with several high volume landlords, and they are certainly taking advantage of great interest rates to increase their holdings.
As always – when selling anything in a highly competitive market – marketing and pricing mean everything.
Promotion of my listings over a number of websites is one thing I do, along with a competitive market analysis to make sure I set the price right. I make up fancy flyers to distribute around the area & make available for web users to download. Often times I’ll even go door-knocking around the neighborhood to see if the neighbors have any friends looking to relocate. I also send out an email to the thousands of registrants to www.NorthoftheSavannah.com. Usually within 24 hours of promoting a property online, I can get several hundred interested buyers looking at it, resulting in several in-person showings during the next few days.
I also have a fine-tuned network of fellow Realtors that I leverage in my seller’s favor. For my recent listing on Barbara Lane, I managed to show the home to over 40 real estate agents on the first day of listing. I’d say that’s EXPOSURE!
If you want to list a home in the area, please give me a call at 803-270-5005 or contact me for a listing presentation. You can also contact my buyer’s agent, Susan MacEwen, at 706-294-6795. Either of us would be glad to answer questions or help you with your real estate needs.