With the Feds recent rate drop of 1/2 %, I fully expect prices to increase for St Simons Island proprieties. I started seeing more price reductions than normal in June of 2006, and now I expect to see prices start back up. For all of you who have been waiting for the bottom, I really believe now is absolutely the best time to buy coastal property, especially on St. Simons Island. There is a tremendous inventory of more than 450 single family homes and 390 condos available on the Island. There has been a lot of national and international interest in St. Simons, beginning with the G-8 Summit in 2004, and spurred on by recent national exposure in the media as one of the top ten second home & retirement areas in the country.
If you wait to see all the signs, you will have missed the best opportunity to buy, and there is always a premium to be paid for waiting too long! There is plenty of mortgage money available for credit-worthy borrowers, so don't let the "mortgage wet-blanket" fool you. The buyers that borrowed more than they could afford, and the lenders that bet on rising markets continuing, got all the headlines, and stalled a recovery that was just beginning to show signs of life here. All this is really good for those of you who are able to take advantage of two situations that rarely occur at the same time:
1. Prices are still very low in this area of Coastal Georgia, especially on St. Simons Island.
2. Mortgage rates are at very low levels, thanks to a strong economy and the recent Fed cut of 1/2%
This is your signal to get off the fence and buy Coastal Georgia property! Contact me right now -- 912-223-9204