Wednesday, February 20, 2013

Richmond Hill/ Pooler Homes

Richmond Hill GA Real Estate The Randy Bocook Team

Pooler and Richmond Hill GA Home Sales, The Rise of a City

If you happen to live in Coastal Georgia in the Savannah, Pooler, or Richmond Hill area and have been here for any length of time you would have seen incredible growth in Pooler and Richmond Hill. The population in Richmond Hill alone in the last 20 years has more than quadrupled. The city of Pooler, once considered a speed trap on I-95, has grown in to a bustling suburb of Savannah. Thousands of homes have been built in the last 20 years in Pooler and Richmond Hill. Pooler has a thriving industrial park. Gulfstream Aerospace, the maker of the G-5 and G-650 private jets, are home-based here in Pooler. JCB, a company based in England, has a thriving plant in Pooler as well.

The real estate trends for both Richmond Hill and Pooler have been a 5%-7% increase in market value up until the real estate crash in 2008 with a still modest return of 1%-2% increases since then. For 2013 I have seen 5% increases in values for those two cities. As a realtor, you know the magic number. 6%. That will allow for a seller in a scenario to pay the real estate commission and not lose money.

One of the main issues we are having now, in both cities, Richmond hill and Pooler, is the lack of inventory. Believe it or not, it’s becoming a seller’s market again for this reason. Homes that I thought would take forever to sell are selling within 30-60 days. One big factor in the population boom of both Richmond Hill and Pooler was the lack of government homes for people transferring to Fort Stewart. If you want to throw in the great schools in both of those cities and beautiful amenities of many of the communities, that makes it an ideal choice for a soldier coming in to Fort Stewart or Hunter Army Air Field in Savannah.

I was just telling an investor the other day that the smart investors have a vision of what the next 20 years will be like, and they see GOOD buys of undervalued properties. What is the next city that is going to boom like Richmond Hill or Pooler, Georgia?

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