August 21, 2011

So, is the recession really over? Haven’t you heard that our nation is suffering from the worst financial crisis since the Great Depression? Haven’t you heard about the recent volatility on Wall Street? How could you not? The 24- hour news channels thrive on all of this gloom and doom. And, the irratings – unlike our economy – are soaring. It’s no secret that the economy could be much better. However, recessions are the natural growing pains of a strong nation. Historically, they have occurred about every 50 months almost like clockwork. Our nation, though, always rebounds stronger than we were before. During 1990, Time Magazine had a cover story on the demise of the housing industry. What kind of shape would you be in now had you purchased a home then? Smart and savvy home-buyers are recognizing that a “perfect storm” of circumstances has formed to make this the most profitable time to invest in a new home. Generational low interest rates are evolving as our government continues to advance initiatives to lower mortgage rates, stem the tide of foreclosures and enhance the opportunity to purchase real estate today. In fact, the Federal Reserve said last week it would keep interest rates very low for at least the next two years. All of this is good news for homeowners who see bargains out there and are willing to act now. Present home loans are very close to January’s all-time interest-rate lows, and can provide the opportunity to buy the home of your dreams while they are still on sale. Here are some things you should know.

Smart and savvy home-buyers are recognizing that a “perfect storm” of circumstances has formed to make this the most profitable time to invest in a new home.

Thirty-year mortgage rates are at all time lows.

• The current conventional, 30-year mortgage rate of less than 5 percent versus the 6.5 percent rate of years past could save you $50,000 or more in interest over the life of the loan. Can you afford to lose out on this opportunity?

Home values are…. Kind of irrelevant?

• That’s right. Whether values are historically high or low, everyone is on a level playing field. For most of our customers, the possibility of receiving a lower-than expected price for their existing residence is more than offset by the lower price they are receiving from a builder on their new home. Subcontractors and suppliers are hungry for business and are slashing the input costs for new construction, allowing builders to price homes aggressively low. All this is great for homebuyers, but it won’t last.

If you are like most people, the choice isn’t whether you are going to own a home; it’s whether to keep investing in your existing home or invest in a new one.

• Which investment is more likely to appreciate – your current, older home or a home freshly designed and built to be relevant for today’s and tomorrow’s buyer? After all, while you wait for the market to recover, wouldn’t you rather be waiting in a new, maintenance free home, customized to your taste and style rather than wondering if your lawn mower is going to start this spring? Sometimes playing it safe isn’t very safe at all.

Buy low; sell high is the first rule of investing.

• Home purchases are not meant to be short term investments and smart buyers know that waiting for a stronger market means paying high prices. You’ve heard the news that new housing starts have been falling. That means supply is rapidly decreasing. This also means that when demand returns to normal levels and new homes are in short supply, prices will undoubtedly skyrocket –it’s Economics 101. Don’t lose out on your chance to invest near the bottom.

Experience the difference.

• Builders are rolling out the red carpet for their customers these days. The customer is king now more than ever. Customer changes are no problem. Don’t miss out on the chance to have a great buying experience with a customer-focused builder before they get too busy to go the extra mile.

Quality Counts.

• Homes built in slower housing markets are constructed with more care and by more highly talented craftsman. A lot was overlooked in the old days of “How fast can we build?” The omissions were not done on purpose, but at the break-neck pace of a few years ago, builders didn’t have time to be picky. Now, builders are able to be a lot more hands-on one and make sure attention is paid to the details. Plus, with a lighter workload, only the best tradesmen have been retained by subcontractors, which in effect weeds out the amateurs. The difference shows. I challenge you to come to our site and our builders and see how quality is apparent in the community and has been acknowledged to us by visitors throughout our Epcon network.

Made in the USA.

• With the housing industry comprising one-fifth of America’s Gross Domestic Product, it’s no wonder the economy is struggling. Our country has lost a significant number of construction jobs. Most Americans feel a patriotic duty to buy American-made products, but does it really make a difference? Think about this – virtually all of the dollars spent building and buying a new home stay in your community. Now that’s what I call a stimulus package (where it counts).JFK said it best, “Ask not what your country can do for you; ask what you can do for your country.”Simply put those who wait on the sidelines are continuing to compound the problem. However, those who can afford to purchase a car or home during a time of recession and actually do it are patriots and should be applauded.

Frank Curran is a Principal of The Fairways at

Savannah Quarters an Epcon Community, one of

the leading developers and franchise operators of

Condo/Townhome developments nationwide. He can

be reached at 912 450 9876 by email at frankcurran@

fairways-sq.com. Log on to www.fairways-sq.

com for more information.

Savannah Quarters, the jewel of Savannah, is celebrating its 10th Anniversary since opening its doors in 2001 this month! In the last ten years, Savannah Quarters has successfully established itself as a niche golf course residential community in the southeastern United States. Savannah Quarters, which is located only twelve minutes from downtown Savannah is now home to nearly 350 residents and the Savannah Quarters Country Club, the centerpiece of the development, boasts over 550 Members.

David Cecchele, COO of Medallist USA, who has resided over the project since May 2008, states “Even during the challenging conditions of the last few years, we have continued to experience growth with an increasing number of members and the sale of real estate.” With particular reference to the past 8 months, members at the Savannah Quarters Country Club has grown by more than 15% and over 120 real estate contracts have been exchanged with 66 having closed to date.” added Cecchele.

In contrast to the real estate industry in other parts of the United States, Savannah Quarters has continually had a variety of new home construction underway. “As a testament to the strength of the development, two new housing contractors have invested in Savannah Quarters in the last two months and will be commencing new model and speculative homes for sale by the end of 2011. This brings a greater variety of housing choice to an already well-established community” stated Cecchele.

In light of the continued success of development, Savannah Quarters is pleased to announce the release of a new precinct being The Reserve at Westbrook at Savannah Quarters. The first release boasts an enclave of eleven premium homesites enveloped in a canopy of hardwood oak trees. With pristine lagoons and picturesque views, this release will surely not last long at its grand opening to the public on September 24th and 25th, 2011. In addition to the new release of The Reserve at Westbrook, Savannah Quarters offers some jaw dropping prices on other homesites within Westbrook – starting at a low $59,900.

As part of the 10 year anniversary celebrations, residents and Country Club members will also celebrate this milestone on September 24th. They will start the day off with the 10th Anniversary Golf Tournament where the hole-in-one winner will drive away in a brand new Acura TSX offered by Southern Motors Acura of Savannah. That evening they will celebrate Monte Carlo style with Savannah Quarters Country Club 10th Anniversary Gala.

Savannah Quarters is a vibrant live – work – play community where residents and members can enjoy world-class amenities like a Greg Norman Signature Golf Course, multi-million dollar Country Club, full service fitness center, resort-style swimming complex, lighted tennis facility, and children’s play park all in a gated community with 24-hour security.

Managed by Troon Golf, members have added benefits through their network of clubs with Troon Advantage and Troon Privé. Golf members are able to play over sixty Troon courses worldwide with preferred rates and tee times. In recognition of its 10th Anniversary, Savannah Quarters Country Club is offering membership initiations as low as $200.

There’s something for everyone at Savannah Quarters and you’re invited to come out and see for yourself what all the buzz is about. As one of our homeowners has said time and again, “Savannah Quarters is a great place to call home. I am living the dream!”

I found this video to be informative to all those that may be waiting to buy their second home or the pre-retirement home. This video caputures the essence of why timing today is very important to anyone considering a near term purchase. I suggest to you that the interest rate factor is the most important factor that will effect your housing cost. If you wait as this video suggests you will only pay more for that home. I would be more than willing to work with you one on one to explain and calculate this phenomenon.

Frank Curran, Principle of the Fairways at Savannah Quarters, an Epcon Community, a National builder of Age-Targeted ranch homes. He can be contacted at 912-450-9876 or visit www.fairways-sq.com

Gary, Frank, Lindy and Joanna are proud that the West’s have chosen our new development for their residence. Join all of us in greeting and meeting them.

For those of us who live here we are not surprised by the the following snippet that was in today’s Savannah Morning News about our great little city. Full of culture, history and ambience.

American Style magazine has selected Savannah as No. 2 among its top 25 mid-sized city art destinations. St.Petersburg, Fla., took the top spot, New Orleans was No. 3 and Charleston, S.C.,was No. 4. Of Savannah, the magazine quotes reader Pam Jackson of Gilbert,Ariz.: “The warmth and charm of Savannah adds so much to the overall art experience. Not only does it offer history and culture, but great dining,natural beauty,public transportation and unique neighborhoods in which to enjoy your art experience.”

Frank Curran, Principal

Quote from our Newspaper in a Letters to the Editor

Recently my wife and I took a quick, three-day getaway to Hilton Head, S.C., and then on to Savannah. Because of the accommodations we decided to spend two days in Hilton Head and one in Savannah. That was the biggest mistake of our trip. After one day in Savannah we agreed that all three days should have been spent in your great city. Arriving midday we were able to walk much of the historic district and meet many of the nicest people we have ever encountered. We are both seasoned travelers so we have experienced both national and international travel. For dinner we ate at a downtown restaurant and enjoyed some of the finest dining we have ever had. We visited many of the shops on River Street. We continued to comment what a mistake it was not to spend our entire time in your truly hospitable city. At the risk of hyperbole, we could not recall meeting a nicer more welcoming group of people than the residents of Savannah. We will be sure to visit your city once again very soon. Visitor from….. Attleboro, Mass.

Frank Curran, Principal

Of The Top  Ten Tax-Friendly States For Retirees

 GEORGIA RANKS #6 IN THE USA!

State Income Tax: 1%-6%
State Sales Tax: 4%
Estate Tax/Inheritance Tax: No/No

Georgia offers a peachy tax environment for retirees. Social Security income is exempt from taxes and so is up to $35,000 per person of most types of retirement income, including pensions, annuities, rental income, interest, dividends and capital gains for residents 62 and older. Beginning in 2012, taxes on all retirement income will be phased out completely. Remaining income is taxed at rates ranging from 1% to 6%, with the top tax rate kicking in on income in excess of $7,000. The statewide sales tax is 4%, but local jurisdictions can add up to 4% of their own taxes. Food and prescription drugs are exempt from sales taxes. Full-time residents of the Peach State qualify for a homestead exemption, and residents 65 and older may qualify for additional property tax deductions.