With the interest rates cuts, St. Simons Island real estate market is expected to rise.
Saint Simons Island, GA -- (ReleaseWire) -- 02/25/2008 -- St. Simons Island real estate experts recently announced that they are predicting an increase in home sales for the St. Simons Island and Sea Island Georgia real estate markets during the upcoming spring months. Encouraged by the recent interest rate cuts, many St. Simons Island realtors are reporting that buyers are showing more interest in purchasing homes in the area in the coming months.
“While the market is slower at the moment then it has been in years past, the springtime is usually one of the busiest times for the St. Simons Island real estate market to begin with,” says longtime coastal Georgia realtor Dana Gardner. “But this year, we are expecting to close more sales then previously expected. This is due, in large part, to the recent cut in interest rates as well as the overall drop in the price of real estate in the area.”
Since warm weather often draws in buyers to the pristine ocean side communities of Sea Island and St. Simons Island, the addition of lower interest rates and lower home prices are expected to bring even more buyers to the market this year. And that’s great news for costal Georgia real estate, says many St. Simons Island realtors.
“Real estate is a tough industry in most parts of the country right now,” says Gardner. “While the Georgia real estate market as a whole is still fairing better then many other markets, we are still seeing a downward trend in home sales. The new interest rate cuts, however, are prompting more buyers to enter the market and that could give a much needed boost to the real estate industry and to the St. Simons Island and Sea Island real estate markets.”
While the spring sales season historically begins to ramp up in early March, buyers are already taking notice, and February has brought more inquiries then usual. If the pace continues, St. Simons Island real estate could see one of its best quarters for home sales in the past year.