What Homeownership Really Means

What Homeownership Really Means—and Why It’s About More Than Just the Numbers The other day, I heard a podcast featuring Skylar Olsen, Zillow’s Chief Economist. As you’d expect, there was a lot of talk about housing market predictions for 2025, what might’ve been missed in 2024, and the trends shaping real estate across the country. All great stuff for a real estate geek like me. But toward the end, the conversation took a turn. Olsen was asked a simple yet profound question: “What does homeownership mean to you?” Her answer wasn’t what you’d expect from a numbers person—it wasn’t about ROI, market trends, or investment strategies. It was personal. It was emotional. And honestly, it hit home for me. Let’s break it down—and why it matters as you think about finding your next (or first) home here in Savannah. More Than a Financial Equation Olsen admitted she’s naturally wired to look at the data—after all, she’s an economist. She crunched the numbers on homeownership versus renting, comparing it to investing in stocks. Sometimes, renting might make more sense financially, depending on the situation. But then she flipped the script: “That’s the cost of ownership and customization and personalization and vision,” she said. Translation? Owning a home isn’t just about spreadsheets or calculating equity. It’s about creating a space that’s yours—a blank canvas where your vision for your life can come alive in ways renting just doesn’t allow. Here in Savannah, where historic homes meet new builds, and the charm of coastal living adds its own flair, that vision could mean anything. Maybe it’s restoring an old Victorian in the Historic District or setting up the perfect backyard oasis in Richmond Hill. Whatever it is, it’s yours to create. The Freedom to Be You Olsen shared a personal story about her own home. Picture this: a backyard with chickens, fruit trees, flowers, and pumpkins (some of which are now chicken snacks, thanks to nature running its course). “That is a vision I can’t create if I’m a renter. I don’t know what landlord would let me do this craziness,” she said. For her, homeownership means freedom—the freedom to dream big, get creative, and make her space her own. And that’s what it’s all about. Whether you’re looking for a big yard for the kids, a space to entertain friends, or a quiet retreat after a long day, owning a home gives you the flexibility to make it happen. Rethinking the American Dream For decades, the “American Dream” has been tied to the image of a single-family home with a white picket fence. But the truth is, that dream looks different for everyone—and that’s a good thing. Olsen pointed out that the American Dream is about vision and choice. It’s not just about buying a home; it’s about creating a life that feels like yours. That might mean a historic condo downtown with a view of the Savannah River, a bungalow in Thunderbolt, or even renting if flexibility is what you value most. The key is defining what homeownership—or simply “home”—means to you. What This Means for Savannah Homebuyers Olsen’s perspective offers some powerful takeaways as you think about your next move: Focus on What Matters to YouSure, the financials are important. But think beyond the numbers. What kind of life do you want to create? How can your home reflect your values, personality, and goals? There’s No One-Size-Fits-All DreamWhether it’s a spacious lot in Pooler or a charming beach house on Tybee Island, your dream doesn’t have to look like anyone else’s. Make it your own. Look at the Lifestyle BenefitsOwning a home isn’t just about building equity—it’s about building a life. From customizing your space to planting roots in a community, the rewards go far beyond the financial. Helping people find their dream home is why I love what I do. It’s not just about contracts and negotiations—it’s about seeing families and individuals create a space where they can truly thrive. So, let me ask you: What does homeownership mean to you? Is it freedom? Stability? A blank slate for your vision? Whatever it looks like, I’m here to make it easy for you to find it in Savannah. Let’s connect and bring your vision to life—Savannah style.

How do you spot an overpriced home?

How to Spot an Overpriced Home in Savannah In Savannah, charm is plentiful—and so are pricey listings. But some homes wear a price tag that just doesn’t match up. Here’s the lowdown on how to tell when a home's asking price is a bit too ambitious, so you can avoid overpaying. Unlocking the Power of Market Analysis Think of a Comparative Market Analysis (CMA) like a treasure map—it reveals a home’s true value based on real sales data from similar properties nearby. This isn’t just guesswork; it’s your crystal-clear snapshot of the local market right now. With a solid CMA, you’ll know exactly where a listing stands, making it a lot easier to recognize when a home’s price might be more fantasy than reality. The “Days on Market” Signal When it comes to timing, the market doesn’t lie. If a home’s been sitting unsold for a while, it’s often a clue that the price is off. Homes priced right don’t linger—they catch eyes and go quickly. Every neighborhood in Savannah has a different “sweet spot” for days on the market, so don’t hesitate to ask me for the inside scoop. The Appraisal Reality Check Here’s where things get real. When the appraisal comes in lower than the listing price, it’s time to pause. If a home’s appraisal doesn’t match up, it’s often overpriced, giving you the leverage to renegotiate or walk away if needed. Condition Matters: Don’t Skip the Details Whether a home has been meticulously updated or feels like a time capsule can play a huge role in its value. Take a hard look at the home’s condition inside and out—updates add value, while a lack of them might not justify the asking price. If the numbers don’t line up with the appearance, start asking questions. Emotional Pricing Alert Sometimes, sellers set a price based more on memories than market reality. While it’s understandable, sentimental value shouldn’t impact the price you pay. With a solid CMA in hand, you can approach the conversation with compassion but also stick to the facts, ensuring you get the best deal. The Bottom Line? Finding the right home in Savannah is all about being informed and strategic. For a deeper dive, check out my guide, “Is It Worth It? Decoding Property Prices.” Shoot me a text with "Guide Me!" for your free guide to savvy home buying in Savannah.

More Homes and Slower Price Growth Make Now a Great Time to Buy a Home in Savannah, GA

More Homes and Slower Price Growth Here’s the lowdown on the housing market shift and what it means for you as a buyer in Savannah right now.  More Homes on the Market We’re seeing more “For Sale” signs popping up around town. This rise in inventory is good news for you because it takes away some of that white-knuckle competition we’ve been dealing with for the past few years. Prices Growing Slower     Yes, prices are still inching up, but the pace has finally slowed down. This slower growth is making homes more affordable, which is a big win for families looking to move up or get their first foothold in the market. What This Means for You If you’re a family with an eye on the Savannah area, this is the sweet spot. More choices and a bit more leverage mean you have room to find the right home and make a confident offer. You don’t have to rush to the first house that’s “good enough.” Instead, you can focus on finding the place that matches your lifestyle, where you can be part of the community and enjoy all the activities that make this area great. How It’s Playing Out in Savannah Locally, we’re seeing this trend hold steady. For families with active lifestyles, those involved in community sports, outdoor pursuits, or local events, this market gives you a chance to find a home that supports everything you’re into. In a nutshell, if you’re thinking about buying in Savannah, now’s a great time. The pace has slowed, the options have grown, and you’ve got a good shot at finding a home that fits.

Should You Buy or Sell a home in Savannah During an Election Year?

Should You Buy or Sell in Savannah During an Election Year? No matter how many elections you’ve seen, every time November rolls around, it can feel like a bit of a gamble when you're deciding whether to make a move in real estate or wait for things to settle. The truth is, presidential elections usually have a small and temporary effect on the housing market. But it's natural to wonder how this year's election might impact your plans to buy or sell a home in Savannah. So, let's break down what typically happens in election years and what that might mean for you here in the Coastal Empire. How Do Elections Affect the Housing Market? Home Sales Historically, there's been a slight dip in U.S. home sales during November of election years. Ali Wolf, Chief Economist at Zonda, notes that while the housing market remains steady overall, November usually slows down a bit. That slowdown is often because buyers and sellers hesitate, feeling uncertain about how the election's outcome might impact their finances or future plans. But here’s the good news: it's a short-lived pause. In most cases, home sales bounce right back in December and pick up steam going into the next year. In fact, after nine of the last eleven presidential elections, home sales increased the following year, according to data from Department of Housing and Urban Development (HUD) and the National Association of Realtors® (NAR). So, while there might be a brief slowdown in Savannah’s market, it's typically nothing to lose sleep over. Home Prices According to Bankrate, home price growth during election years often outpaces non-election years. A study of Case-Shiller data shows that home prices grew by an average of 4.84% during election years since 1987, compared to 4.44% in other years.     Based on that, you might think presidential elections are good for the housing market. The reality is a bit more complicated. In recent history, 2008 stands out as the toughest election year for the U.S. housing market. Home values took a nosedive, dropping 12% as the housing bubble of 2004-2007 burst. But this crash wasn’t tied to the election itself—it was the result of some pretty awful economic timing, with the global economy in freefall. On the bright side, the market had a lot of room to rebound after such a sharp decline. That year is also the only election year in recent memory where home price appreciation dropped significantly from the previous year, going from -5.4% to a staggering -12%. On the flip side, the best year for home price growth since 1987 was 2021, when values soared by 18.9% due to record-low mortgage rates during the pandemic. Again, these wild market swings had more to do with unique economic factors than the election itself. Mortgage Rates Mortgage rates are always a hot topic, especially when you’re trying to lock in that dream home. Historically, mortgage rates tend to decline in the months leading up to a presidential election. According to Freddie Mac, rates dropped between July and November in eight of the last eleven elections. Looking ahead, most housing forecasts expect rates to ease up a bit through 2024 and into 2025. This could mean lower monthly payments, but remember—lower rates can also drive more buyers into the market, which may lead to increased competition and higher home prices. The Bottom Line While political candidates love to tout their economic plans, the reality is that presidential elections usually have little influence over the housing market in the short term. What matters more is keeping an eye on local trends here in Savannah. So if you’re considering making a move, whether it’s buying or selling, don’t let the election cycle hold you back. Real estate is about timing that works for you, not just what's happening in Washington. Curious about how your neighborhood is doing? I’ve got personalized data and insights just for you. Reach out and let’s chat about your next move in Savannah's ever-evolving market.