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February
21

Savannah Vacation Properties Investments Are a Win-Win

by HEATHER BOOTH

Picturesque, charming, historic, inviting, far from ordinary, the list goes on and visitors agree … there's nothing quite like Savannah. Tourism is nothing new to Georgia's "first city," for the past several years tourism records have continued to soar. This year seems to be no exception, as Savannah made the list for Travel + Leisure's top places to visit in 2019.

The living is easy in Savannah. Most visitors want to come and live like a local. They want to feel that sense of home. Because of that, many choose to stay in a vacation property within the landmark historic district, instead of a hotel. They are smart travelers, many are millennials, who understand and trust the concept of Airbnb.

From the Savannah River to Gwinnett Street, and from East Broad to Martin Luther King Boulevard vacation rentals are in high demand and can be found on just about every block. Most of the homes in the area have about a 70-80% occupancy rate, and when you compare that to the hotels in the area, they're doing just as good — or even better!

In Savannah, purchasing a home to use as vacation property is a successful investment, but there are realities to note, before buying.  First of all, it's really important to work with a lender, preferably local, who understands the nuisances for lending.

Secondly, the City of Savannah issues a permit for each vacation rental in order to limit and maintain a balance of full time and rental properties across the area. This is a blessing and a curse because they look at each ward and designate no more than 20% to be used as a vacation rental.

High Demand For Savannah Vacation Properties

Vacation properties in the hostess city are so sought after that almost every ward is currently full, and there's a waiting list to receive new permits. Any home sold with a permit, is considered some of the most marketable property in the historic district. That's because, if you purchase from someone who's home is already permitted, you don't automatically get the vacation rental permit, but you can apply and almost be at the top of the list.

There are also a large number of people who want to use their garden home or carriage house as a rental, to allow them the opportunity to get into a neighborhood or a home that they might otherwise not have been able to afford. Those lucky homeowners are able to share their space with visitors without necessarily qualifying under the city's permit cap, as long as it's considered their full-time residence.

Annually,  Savannah sees 7 million tourists. Each tourist is attracted to Savannah for a different reason, whether it be the walkability of the city, the European feel, the to-go cocktail atmosphere, the southern hospitality, the delicious and eclectic fare, the perfectly manicured squares, the Spanish moss shaded streets, or the proximity to the waterways… But no matter the case, each one of these visitors needs a place to stay, hence the success of vacation rental properties.

Want to Learn More?

For more information on vacation rentals visit www.corabettvacationrentals.com and for additional details on vacation sales please contact Heather Booth directly at hbooth@corabettthomas.com or 912-401-9401.

February
15

A Southern Beauty for Over 200 Years

Savannah doesn't lack for natural beauty. A number of varieties of flowers and plants make the Historic Downtown District sparkle. None so much as the camellia embody the genteel beauty of Savannah. These evergreen shrubs boast large and colorful blossoms and adorn Downtown Savannah like jewels.  

Camellias have been a part of the southern landscape for over 200 years. The plants were first introduced to the United States by way of Charleston, South Carolina in 1786. Camellias can serve several functions in landscape planting. They are staples in most of the squares in the Historic District. Camellia bushes can be used for foundation plantings, screens, accent plants, background groupings and hedges. 

The colors of the camellia blossoms found in Savannah range from snowy white to deep ruby red. Camellia bushes can grow to a height of up to six feet tall and two feet wide. Some of the most beautiful variations of camellia blossoms include pale pink blossoms with darker pink stripes. The broad, glossy dark green leaves of the camellia contrast beautifully with the lush and fragile blossoms of the camellia's blossoms. When the camellias come into full bloom in the winter, their stately and refined elegance call to mind the Southern belles of Savannah's history. 

Some of our favorite squares to admire these Savannah belles are along Bull Street: Chippewa Square and Wright Square. Both of these squares are dotted with artfully spaced camellia bushes. Calhoun Square, on Abercorn Street also hosts photo-worthy camellia bushes. Although these bushes in this square are a bit shorter than their sisters in Chippewa and Wright Squares, they are no less stunning.

The natural beauty afforded by the camellia shrubs and blossoms is something that Savannah visitors and locals alike can enjoy. The camellia blooms add a dash of color to our occasionally gray winter days, and remind us of the promise of warmer weather just ahead.

October
7

But the World Goes On...A Birthday Celebration

For lovers of talented singers and musicians, the Sip, Savor and Song Cabaret is not to be missed. Roger Moss and Kim Steiner host an evening of song, music, and stories at Lot 33, below East End Provisions. We had the pleasure of attending one of their shows a couple weeks ago, and it did not disappoint. Good wine, good food, and some magnificent performances of the songs of Duke Ellington made for an excellent Saturday evening.

Roger Moss Sip, Savor and Song Cabaret

One of my favorite things about this show? Its location, at Lot 33 of East End Provisions. Exposed brick walls, soft lighting and dark wood furniture create a spot of quiet sophistication and is the perfect setting to enjoy the sounds of Steiner and Moss.

Lot 33 offers a pared-down version of the menu of East End Provisions for the show. The menu includes appetizers such as wings, calamari, crab cakes, and pork fondue. I recommend the crab cakes, as they are some of the best that we have had in Savannah. The dinner menu also includes East End classics such as the The Entelman and East End's Wood-fired Chicken Sandwich. Diners can begin ordering food and drink at 6pm. In addition to food, guests can also order cocktails and wine at Lot 33, and beverages are available from the bar throughout the show. 

Roger Moss is one of Savannah's most beloved singers. As co-founder of the Savannah Children's Choir, he delights in sharing his love of song. Kim Steiner, a Broadway veteran and teacher at SCAD, accompanies Moss on piano. The easy camaraderie that these two share makes listening to the beautiful sound that they create all the more enjoyable. 

This Saturday, Sip, Savor and Song will be hosting a special performance in honor of Roger Moss's birthday. Roger and Kim will be performing songs from Fats Waller, Hoagey Carmichael, Duke Ellington, Johnny Mercer, and more. 

For more information and ticketing, click here.

What
Sip, Savor and Song Cabaret

When
Sat, October 13, 2018, 6PM – 9PM

Where
East End Provisions
420 East Broughton Street
Savannah, GA 31401

June
21

Protect Your Dog on Hot Pavement.

Dog on Hot Pavement

Summertime is nearly here in the Lowcountry. This means longer days full of sunshine, which is great if you're at the beach, but not so great if you're trekking across hot pavement. It's always fun to go shoe shopping for summer sandals, but don't forget about your four-legged friends' feet. Sure, shoes are available for dogs, but those can be uncomfortable (and hot!) in the summer. A cheaper and more comfortable option is a paw protection wax . 

Paw protection wax is an all-natural product that forms a barrier on dog's paws. Formulated with vitamin E to moisturize, help soothe wounds and keep paws healthy paw wax is nontoxic, hypoallergenic, and easy to apply. The wax is absorbed into the paws and forms a semipermeable shield, which allows perspiration to escape through the toes. In addition to snow, ice, and hot pavement, paw protection wax also protects from irritants such as sand, salt, and rough terrain. 

Paw protection waxes are made from food-grade waxes that are non-toxic and non-allergenic, so it's ok if your dog licks their paws after an application of the balm. You can even use it on yourself as a protective balm against windburn. 

One of our favorite paw protection waxes is Musher's Secret, a dense, but breathable wax originally developed in Canada for sled dog races and it's ideal for protecting your dog's paws from extreme temperatures — hot or cold. While any paw protection wax will need to be reapplied depending on your dog's activity, a little bit of the product goes a long way. Just a small amount on each paw is good for a week's worth of walking.

Make the most of the summer days in Savannah for you and your pooch, and keep their paws protected. 

Where to Find Paw Protection Wax

Locally, find paw protection wax at Woof Gang Bakery locations. But just call ahead to make sure paw protection wax is in stock at your nearest location because of its popularity. Find your nearest store here.

You can find Musher's Secret online at Amazon.

And don't forget to pick up a travel dog bowl to keep your pal hydrated too!

May
17

Tax reform and the housing market.

tax reform and the housing market

Starting late last year, some predicted that the 2018 tax changes would cripple the housing market. Headlines warned of the potential for double-digit price depreciation and suggested that buyer demand could drop like a rock. There was even sentiment that homeownership could lose its coveted status as a major component of the American Dream.

Now that the first quarter numbers are in, we can begin to decipher the actual impact that tax reform has had on the real estate market.

1. Has tax reform killed off home buyer demand? 

The answer is "NO."

According to the Showing Time Index which "tracks the average number of buyer showings on active residential properties on a monthly basis" and is a "highly reliable leading indicator of current and future demand trends," buyer demand has increased each month over the last three months and is HIGHER than it was for the same months last year. Buyer demand is not down. It is up.

2. Have the tax changes affected America's belief in real estate as a long-term investment? 

The answer is "NO."

Two weeks ago, Gallup released its annual survey which asks Americans which asset they believed to be the best long-term investment. The survey revealed:

"More Americans name real estate over several other vehicles for growing wealth as the best long-term investment for the fifth year in a row. Just over a third cite real estate for this, while roughly a quarter name stocks or mutual funds." 

The survey also showed that the percentage of Americans who believe real estate is the best long-term investment was unchanged from a year ago.

3. Has the homeownership rate been negatively impacted by the tax changes?

The answer is "NO."

Not only did the homeownership rate not crash, it increased when compared to the first quarter of last year according to data released by the Census Bureau.

In her latest "Z Report,Ivy Zelman explains that tax reform didn't hurt the homeownership rate, but instead, enhanced it:

"We have been of the opinion that homeownership is most highly correlated with income and the net effect of tax reform would be a positive, rather than negative catalyst for the homeownership rate. While still in the early innings of tax changes, this has proven to be the case."

4. Has the upper-end market been crushed by new State and Local Taxes (SALT) limitations? 

The answer is "NO."

In the National Association of Realtors latest Existing Home Sales Report it was revealed that:

  • Sales between $500,000 and $750,000 were up 4.5% year-over-year
  • Sales between $750,000 and $1M were up 15.1% year-over-year
  • Sales over $1M were up 17.3% year-over-year

5. Will the reforms in the tax code cause home prices to tumble over the next twelve months? 

The answer is "NO."

According to CoreLogic's latest Home Price Insights Report, home prices will appreciate in each of the 50 states over the next twelve months. Appreciation is projected to be anywhere from 1.9% to 10.3% with the national average being 4.7%.

Bottom Line

The doomsday scenarios that some predicted based on tax reform fears seem to have already blown over based on the early housing industry numbers being reported.

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