Yesterday on CNBC, renowned real estate mogul Ryan Serhant shared some compelling insights into the national real estate market—insights that hold special relevance for Savannah's vibrant market. Here’s what he discussed and how it could impact you as a buyer, seller, or real estate professional in Savannah.
10% Rise in Real Estate Inventory Nationally
One of the most significant takeaways from Serhant’s interview was the 10% increase in housing inventory across the country. For Savannah, this trend could mean more opportunities for buyers who have faced stiff competition in recent years. More inventory translates to more choices, potentially reducing bidding wars and easing some of the pressure on buyers.
For sellers, however, increased inventory may introduce more competition. Pricing homes appropriately and ensuring they stand out in the market will be crucial. As a seasoned Realtor in Savannah, I specialize in strategies that help sellers position their properties effectively to maximize their return—even in a more crowded marketplace.
Mortgage Rates at Their Highest Since July
Mortgage rates are another hot topic, currently at their highest levels since July. While this might initially seem like a barrier for buyers, there are ways to navigate this challenge. Savannah’s affordability compared to other major markets can still make homeownership a viable option, even with higher rates.
As a licensed mortgage lender with Mutual of Omaha Mortgage, I can help buyers explore tailored financing options. From locking in competitive rates to leveraging creative loan programs, I’m here to ensure you’re making the most informed decisions possible.
RLTYco: A Game-Changer for Realtors
Serhant also announced his new role as a Brand Ambassador for RLTYco, an innovative platform that disrupts traditional commission payment timelines. With RLTYco, Realtors can receive their commissions at the pending stage rather than waiting months for the transaction to close. This breakthrough provides agents with greater financial flexibility and could empower Realtors in Savannah to invest more time and resources into serving their clients.
For buyers and sellers, this innovation means working with Realtors who are more financially secure and focused, resulting in a higher level of service and support throughout your transaction.
What Does This Mean for Savannah?
Savannah’s real estate market has always been unique, blending historic charm with modern growth. Here’s how these trends could shape our local market:
-
Buyers: More inventory may ease competition, and working with a knowledgeable agent can help you navigate rising mortgage rates to find the best deal.
-
Sellers: Pricing and presentation will be key. Trust an experienced Realtor like me to guide you through market shifts and position your home for success.
-
Realtors: Innovations like RLTYco can enhance our ability to deliver exceptional service, ensuring that Savannah remains a desirable destination for buyers and investors alike.
Let’s Navigate This Market Together
Change is a constant in real estate, but with the right guidance, it’s an opportunity to thrive. Whether you’re buying, selling, or simply curious about the market, I’m here to help you make sense of it all.
Reach out today to learn how these trends can work in your favor. Together, we’ll make Savannah’s market work for you!
