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The real estate recession is over. If you’ve been waiting for the bottom to invest in real estate, the time to buy is now. But, don’t take our word for it!
Economists and other experts, such as CNBC’s Cramer, are saying that residential real estate has finally found a floor. As Cramer recently told CNBC viewers, the sector’s long, steep descent is all but over. According to a June 16th article posted on the web by Tom Brennan, “New housing data reported today indicates a dramatic change for the better. The latest news, along with much lower prices and the working off of inventory, validate (Cramer’s) prediction that housing would stabilize this month.”
Hodnett Cooper Associates celebrated the market turn-around with a cookout at its Mainland Office. To quote one Associate, “This is the last time we’ll be eating hotdogs. From now on, its steak and champagne!” 
On a serious note, evidence that prices are stabilizing and demand for real estate is increasing here in Coastal Georgia becomes more apparent each day. Inventories, which were never extensive along this section of the Coast, are shrinking, particularly in new products. During the last two years, builders have adjusted housing starts in response to market conditions. Increased interest from prospective purchasers, which began in early spring, is now reflected in pending contracts and closings. For example, the Hodnett Cooper Mainland Office has produced 23 pending transactions in the last three weeks, activity reminiscent of the hot sellers’ market of three years ago. Multiple offers on desirable, well-priced properties are increasing. Our phones are ringing with inquiries; traffic on our website is up dramatically.
For a few more weeks, buyers will continue to enjoy the best real estate opportunities in a decade:
(1) Interest Rates Below 6%: Competition for money, including the Federal government’s extraordinary deficit spending, will drive interest rates up, and soon. But, for a limited time, rates are affordably low. If you are waiting for prices to drop, stop waiting. A 10% decrease in price is required to offset a 1% increase in interest rates. Increasing prices and increasing interest rates are much more likely.
(2) A Pricing “Do-Over”: On certain properties, today’s pricing is on par with pricing from early 2000. During 2005-06, many of our purchasers opined, “If we had only bought in 2002, look how much we would have made on this property!” Our view is that 2002 has come again, as will 2005-06. If you are smart enough to enter the market now, you can have a “do-over!”
(3) Selection: The choices are plentiful in most price ranges. However, since limited new inventory is being added to the marketplace, these choices will diminish with each passing week.
(4) Demand Backlog: People have deferred important real estate decisions for almost three years, particularly the baby-boomers who plan to retire “south.” Improving market conditions will release this pent-up demand, which will absorb more of the available inventory. Prices will rise as demand increases and supply decreases.
(5) Tax Advantages: Both the Federal government and the State of Georgia will pay qualified individuals to buy a home. If you qualify, you should move quickly, as this opportunity ends in just a few months.
Market conditions are changing…. And quickly. As Mr. Brennan states, “…people are as blind to the bottom as they were to the top. You can’t wait for some analyst to make the call. You have to buy now if you want to make some money.” Thank you, Mr. Brennan, we couldn’t have said it any better!
The professionals at Hodnett Cooper know the best opportunities in today’s market. Request our “Best Buy” list and become a part of the real estate recovery. Sometimes, you can have a do-over. Don’t miss this one!
Do You Know the Warning Signs of a Stroke? Learn to recognize a stroke because time lost is brain lost. Today there are treatments that may reduce the risk of damage from the most common type of stroke, but only if you get help quickly-within three hours of your first symptoms.
Call 911 immediately if you experience any of these warning signs!
The American Heart Association wants you to know:
- Sudden weakness or numbness of the face, arm or leg, especially on one side of the body.
- Sudden confusion, trouble speaking or understanding.
- Sudden trouble seeing in one or both eyes.
- Sudden trouble walking, dizziness, loss of balance or coordination.
- Sudden severe headache with no known cause.
The next time you see your healthcare provider ask how you can reduce your risk for a stroke. The American Heart Association and American Stroke Association want you to Learn and Live!
by Danella Crews, Jekyll Island Authority
The Jekyll Island Authority (JIA) Board has approved an increase to the daily parking fee charged to enter the island. The daily parking fee will increase from $3 to $5 per vehicle per day, effective August 1, 2009. The new rate will make Jekyll Island consistent with the entry fee charged at other Georgia State Parks, which the Department of Natural Resources increased to $5 in April. The last time the Jekyll Island parking fee was changed was ten years ago when the fee was adjusted from $2 to $3 in 1999. Parking Fee revenue is used to help fund improvements to the public areas of the island. The increased rate could generate up to $1 million per year. The annual parking pass was left unchanged at $45 per vehicle per year.
by Danella Crews, Jekyll Island Authority
4 Person Scramble Charity Golf Tournament
The Jekyll Island Golf Club is taking part in Rally for the Cure, a breast cancer awareness campaign that began as a grassroots women’s golf program in 1996. More than 1.4 million people have participated in Rally for the Cure® events since its inception in 1996. This year marks the first time that the club has pledged its support and rallied against breast cancer.
A group of 72+ participants are expected for the Rally for the Cure Golf Tournament at 9:00a.m., on July 25, 2009. This event will be a 4 person scramble and is open to the public. Cost will be $50 per player (includes GF, ½ Electric cart, tee gift and prizes). To reserve a spot call (912) 635-2368.
JMM Productions, in conjunction with Hodnett Cooper, proudly brings you Grease this weekend in Neptune Park. This classic film will be displayed on a 36 foot wide by 25 foot high outdoor screen. The movie begins at dusk on Sunday, July 19. This is a fabulous, free, community event! Bring blankets, chairs, and as many friends and family as you like. We’ll see you there.
From: Brooke Livingston, The Brunswick News
When Alice Barlow moved to the Golden Isles, she was delighted to find a community immersed in the arts. An Atlanta native, she studied music from an early age, playing several instruments. Over the years Barlow has served as organist for several churches and assumed the role of choir director at one. In 1999, she and her husband moved to St. Simons Island from Tennessee, instantly becoming active in the community. “When we moved to the Golden Isles, I was very pleased to find a strong arts community that included the visual as well as the performing arts,” said Barlow. “I believe this is critical to the quality of life in a community.”
In fact, she’s involved in a free concert being offered by the Coastal Symphony Sept. 5 at the Casino bandstand in Neptune Park. Those attending are encouraged to bring picnic suppers and lawn chairs to enjoy a rousingly patriotic program complete with “The Star Spangled Banner,” Sousa marches and a closing that will feature Tchaikovsky’s 1812 Overture.
Alice Barlow serves on the board of Coastal Symphony. She is first vice president of the Cassina Garden Club, president of the Episcopal Church Women of Christ Church, Frederica, and a layreader and choir member at Christ Church on St. Simons Island. Barlowe loves meeting new people, a trait that fits right in with her career as a real estate agent for Hodnett-Cooper Real Estate.
“One of the main things I love about my job is the opportunity to regularly learn new things and the challenge of stretching myself in new ways,” she says. “To serve clients properly, a real estate agent must be committed to continuing education and use of the latest technologies.”
As her husband often tells her, it’s important to re-invent yourself regularly and real estate helps her in that process.
Another Side:
- She and her husband have been married for 44 years.
- Regularly donates time to charities.
- Is a member of the Hospice of the Golden Isles Auxiliary.
In order to create a catalyst for turning around the real estate market, the federal and state governments have approved unique tax incentives for 2009 home buyers. As the market is already turning around, with inventories shrinking and prices stabilizing, these incentives may not be extended upon expiration. This opportunity may never come again!
Federal Tax Credit:
If you purchase a home for $80,000 or more, you will receive a credit of $8,000 toward your federal income tax liability. (If the home costs less than $80,000, your credit is 10% of the purchase price.) You must purchase a principal residence (owner-occupied home) between January 1, 2009 and December 31, 2009; your income cannot exceed $75,000 single or $150,000 married filing jointly. If you have not had any ownership interest in a home in the 3 years previous to the day of your purchase, you qualify. Every dollar of the credit reduces the income tax you owe by one dollar. For example, if you owe $10,000 and you qualify for the full credit, you will only owe $2,000. If you only owed $5,000, you will receive a check for $3,000. You do not have to pay this money back. You do not have to make an application for the money; simply claim your credit on your form 1040.
Georgia Tax Credit:
All purchasers (filing a Georgia tax return) of a single family residence (including condominium residences) located in Georgia that was listed for sale prior to May 11, 2009, may claim a credit for 1.2% of the purchase price, with a maximum credit of $1,800. You may combine your state and federal credits, if you qualify for both. You must purchase the home by November 30, 2009. Your credit will be applied to three (or more) tax years, 1/3 of the full credit amount in each year. You may live in the home as your permanent residence, or you may use the credit toward a vacation/second home… even an investment property. You may claim the credit regardless of your income!
Enjoy all the advantages of owning real estate and get cash back!
The July issue of Southern Accents contains a brief feature of St. Simons Island and Sea Island. In an article entitled “A Summer of Savings at the Beach,” Hodnett Cooper and the Cloister were selected as the accommodations providers of choice. The article includes a photograph of Coast Cottage Lane and the new Sea Island Beach Club.
View the complete article online here: http://tinyurl.com/l2jzqb
The St. Simons Island Gateway project will change the way motorists enter and exit the island. The overall goal of the Gateway project is to improve the flow of traffic on and off St. Simons Island. It is the solitary land access point for the island. For a number of years this intersection and its immediate vicinity have experienced traffic backups and delays. The second of three major island intersections slated by the Board of Commissioners for modification, the Gateway project will turn the triangular group of roads–Sea Island Road, Kings Way and Demere Road–into a one-way loop. This loop will create a continuous movement for motorists in some areas and will significantly reduce the number of movements experienced at the traffic signal located at Demere Road and Sea Island Road.
Starting Sunday July 5th 2009, all traffic going onto the island will veer right, onto Kings Way, instead of being able to continue east on Demere Road. Traffic leaving the island will have one-way use of Demere from Sea Island Road to the F.J. Torras Causeway. The Gateway ultimately will be a loop among Kings Way, Sea Island and Demere roads – think of it as a giant traffic circle – that will be fully completed in November. Sunday marks the beginning of the second phase of the project, and the first time that some roads will become one-way only.
The change Sunday will affect traffic in four zones:
1. ENTERING THE ISLAND
All traffic entering St. Simons Island will veer right onto Kings Way, which is now two lanes wide. Drivers heading for the Village should stay in the right lane, to continue on Kings Way. Drivers aiming for northbound Sea Island Road or eastbound Demere Road must use the left lane.
2. THE SEA ISLAND ROAD LOOP LAND
After vehicles headed for the Village split off and continue southeast, as previously, on Kings Way, other drivers will use the Sea Island loop lane to connect to Sea Island Road, which will be one way northbound, between Kings Way and Demere Road. The loop is two lanes wide. Both drivers headed for the north end of the island via Sea Island Road and those who want to travel east on Demere Road will use the loop.
3. MERGING FROM THE LOOP LANE ONTO SEA ISLAND ROAD
The loop lane joins Sea Island Road so that drivers will merge with traffic already on the road, coming from the direction of the Village. Once on Sea Island Road, traffic can turn left, or west, to reach the causeway, continue north on Sea Island, or turn right, or east, onto Demere Road.
4. THE INTERSECTION OF SEA ISLAND AND DEMERE ROADS
Timing of the traffic lights at the intersection of Demere and Sea Island roads will be adjusted Sunday morning to account for the new traffic pattern. Vehicles traveling south on Sea Island Road, or away from Epworth by the Sea, will no longer be able to continue beyond the intersection with Demere, as the section of Sea Island Road between Kings Way and Demere will be one-way northbound. County engineer Bruner recommends that motorists who had previously used Sea Island Road to connect with Kings Way to travel to the Island Club at Retreat or the Village, instead, turn left, or eastbound, onto Demere and use the roundabout at Demere and Frederica roads, avoiding the Gateway altogether until it is completed. When it is done, it will be an easy step to enter the Gateway via the Kings Way loop lane that will distribute westbound traffic on Demere Road onto Kings Way, allowing it to again use Kings Way to reach the Island Club or the Village.
Sean Kasper, of Hodnett Cooper Commercial, knew Premier Martial Arts would enjoy additional success in a central location. With a myriad of commercial properties in their portfolio, Sean was able to create the perfect partnership between Premier Martial Arts and Vitor Toniolo’s Mandevilla building on Shopper’s Way. Premier Martial Arts signed a five-year lease for 4800 square feet that Vitor will build to their specifications.
Sean Kasper explains Hodnett Cooper Commercial’s philosophy as, “our team aims to form long term real estate business partnerships with local business owners as we guide them through the intricacies of the commercial sales and leasing process. We know where the opportunities are and present them to the businesses that would benefit greatly from them.”
Premier Martial Arts’ new studio is located at 123-127 Shoppers Way, Brunswick, GA 31525.
