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Coldwell Banker CEO speaks about national, local housing markets

Hinesville market differs from national scene

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POSTED: June 7, 2008 5:00 a.m.
Photo provided / Coastal Courier/

President and CEO of Coldwell Banker Real Estate, Jim Gillespie is pictured with Coldwell Banker Holtzman Realtors owners/brokers George and Babs Holtzman at their annual awards banquet.

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Jim Gillespie, president and chief executive officer of Coldwell Banker Real Estate LLC, recently visited Hinesville and spoke to more than 65 Coldwell Banker Holtzman Realtors, sales associates, managers, staff and other area dignitaries about the national housing market.
Such outlets as CNBC, Fox Business Channel, CNNMoney.com, New York Times and others routinely interview Gillespie, one of the housing industry's top spokespeople. Gillespie spoke about real estate as a local business, and how each market differs greatly.
"Just as there is no national weather map, we are working hard to educate consumers that each market and neighborhood varies in such critical indicators as appreciation, inventory and time on market," Gillespie said. "To me, this is one of the greatest times to buy a home in my 33 years in the business. In most markets, inventory is up, giving buyers choices. Combined with interest rates being at near-historic low levels and home prices leveling off after the 1995-2005 bull run, this should help buyers get off the fence."
Gillespie voiced concerned that many potential buyers, including those seeking their first homes, might miss out on this opportunity because of ominous national headlines overshadowing local market news. This is especially important for the military families stationed at Fort Stewart, Gillespie added. Soldiers deployed overseas usually only have access to national housing reports; when troops return, many have already decided not to explore the long-term benefits of home ownership, including an appreciation rate of about 6.2 percent annually during the past 25 years, according to the National Association of Realtors. We also have an obligation in our industry to educate buyers and sellers that opting to buy a home is a lifestyle change, Gillespie said. Too often, people tend to view a real estate purchase not as a home, but as a winning lottery ticket.
Gillespie joined Coldwell Banker Holtzman Realtors at the firm's annual awards dinner held at the First City Club in Savannah. The operation is celebrating its 30th year in business, 24 of which have been spent in partnership with Coldwell Banker. Gillespie also congratulated Coldwell Banker Holtzman Realtors owners George and Babs Holtzman on their 40th wedding anniversary.
"Having Jim come to Hinesville speaks volumes to the success our company has had and our value to the Coldwell Banker organization," said George Holtzman. "It is ironic that he spoke so much about local conditions being important because we spend so much time educating consumers and the Fort Stewart troops each and every day about the Hinesville market."
Coldwell Banker Holtzman Realtors is located at 730 General Stewart Way, Hinesville, GA, 31313 and can be reached at 912-368-4300 or www.fortstewart.com. The firm has been serving the area market for 30 years.
 

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