New Year’s Eve Events in Savannah
NEW YEAR’S EVE 2017
– Holiday Evening Tours by Candlelight, December 26-30 2017
Candlelit tours of the Davenport House Museum, focused on historical seasonal celebrations. Ticket purchase required, reservations recommended. More details
– Up the Cup New Year’s Eve Celebration, December 31 2017
Annual New Year’s celebration on River Street with light show and fireworks. Free event. More details
– City Market New Year’s Eve, December 31 2017
Annual New Year’s celebration at City Market, with live music. More details
– (Tybee Island) Tybee New Year’s Eve Fireworks, December 31 2017
One of the South’s biggest fireworks displays, at the Tybee Island Pier. More details
– A Wild Night On Ossabaw, December 31 2017-January 1 2018
Overnight New Year’s Eve visit to Ossabaw Island, with interpretive tour, hog roast and other activities. Transportation to the island (from Skidaway) included. From $150 per person, advance reservations strongly recommended. More details
Current Homeowners Say They’re Ready To Buy
The National Association of Realtors’ Housing Opportunities and Market Experience survey asks consumers about buying and selling a home, their financial situation, and their perceptions of the economy. According to the fourth quarter results, Americans are generally optimistic about the housing market, with majorities expressing that they feel now is both a good time to be selling a home and a good time to buy a home. However, some groups are more optimistic than others. For example, among current homeowners, 79 percent say they feel it is a good time to buy a home. On the other hand, just 60 percent of current renters feel as optimistic. Other groups that were more optimistic included those with household incomes above $100,000 and those living in the Midwest and South. So what do the results mean? Well, one takeaway is that an increasing number of current homeowners who want to move could mean a potential boost in the number of homes available for sale next year. That’s good news for all prospective home buyers, as an increase in for-sale inventory will help improve affordability conditions. More here.
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The Gig Economy And Homeownership
Smartphones and the internet have given rise to a number of on-demand services that offer Americans the ability to supplement their income by providing work as independent contractors. Whether delivering groceries or ride sharing, many Americans are now working in what is known as the “gig economy.” In fact, as part of their third quarter National Housing Survey, Fannie Mae found nearly one-fifth of adults have worked in the gig economy. Generally speaking, these Americans have other full-time work, though younger respondents were more likely to rely on these types of jobs for income. Overall, however, participants in this type of work were more positive about their household income and financial outlook. But how does this type of job impact prospects for buying and owning a home? Well, that remains to be seen. Though gig-economy workers are generally more confident in their income, they also express concern about being able to qualify for a mortgage and save for a down payment. Particularly, among current renters, gig-economy workers were less likely to say they’d buy a home the next time they move. Also, there is some question about how underwriting standards handle what is becoming an increasingly popular way for Americans to make some money on the side. More here.
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Are Home Price Increases Beginning To Slow?
Home prices have been increasing for some time now. Largely this is because, in many markets, there are more interested buyers than there are homes available for sale. Inventory shortages can cause more competition for the homes that are for sale, which leads to spiking prices and decreasing affordability conditions. This, of course, has been a concern for potential home buyers. But, according to new research, there may be reason to believe that the rate at which home prices have been increasing is beginning to slow. For example, the most recent Home Price Index from Black Knight Financial shows the rate of monthly price appreciation declined one third from the month before in September. That was the sixth consecutive month of slowing growth. Also, half of the nation’s 20 largest states and 17 of the biggest metro areas saw home prices fall last month. If this trend continues, it could be encouraging news for home buyers hoping to buy a house this winter or those looking toward a spring home purchase. More here.
Americans Feel Optimistic About Home Buying
An increasing number of Americans say they feel now is a good time to buy a house, according to the most recent Home Purchase Sentiment Index from Fannie Mae. The index – a monthly measure of how consumers feel about real estate, home prices, mortgage rates, job security, and their financial situation – is now nearing its all-time high, reached in September. Doug Duncan, Fannie Mae’s chief economist, says Americans’ perception of the real estate market is improving. “In November, the HPSI rebounded to near its all-time high, returning the index to its gradual upward trend and suggesting fairy stable consumer home-buying attitudes,” Duncan said. “These results are consistent with our expectation that the housing market will continue its modest expansion going forward.” Among respondents, there was a 7 percent increase in participants who said now was a good time to buy a house and a 4 percent increase in the number who feel it’s a good time to sell. More here.
