As originally laid out, each of the Savannah squares was at the center of a basic organizational unit called a ward. Each ward contained a square. All communal activities of a ward took place in the square which was at its center. As the wards and squares were planned, the east and west sides of each square contained two large lots, known as â€œtrust lotsâ€. These lots were reserved for public buildings, such as churches, schools and institutions. On the north and south sides of the squares, the land was divided into 20 â€œtithing lotsâ€, with a lane down the middle for passage. These lanes form the streets of Savannahâ€™s historic district today.
Each tithing lot was not simply a building site unto itself. It was part of a 50 acre grant made to the original settler. The 50 acres consisted of the tithing lot, a 5 acre garden lot nearby and approximately 45 acre farm outside the city limits.... more
Parking Downtown is always TOUGH! But the answer below is a good one, but if this property does not work for you and you would like to see up to date listings, just like real estate agents do, please go to our website at www.myhomesavannah.com and you can search ALL the listed properties in Downtown Savannah and the Historic Distric.
Hi Rosemarie. Please be aware that condos are difficult to secure financing for in the current Savannah Market. But then again, you may be paying cash! :) Many condo units were bought up by investors over recent years to rent them out just as you are talking about. Because of the high percentage of rentals (lenders usually limit it to 50%) in some condo develoments, lenders believe that property values will decrease based on the likelihood of neglect from these surrounding rentals. A couple of lenders offer a program that can still work for financing condos but typically with higher interest rates and adjustable rate loans. Townhomes and or single family properties will likely be your best bet, especially if you want the flexibility of shopping lenders. I would be happy to help in any way I can.
What is your question exactly?
I suspect I know where the property in question is located: In the 400 block of E Hull.
It is a recent development of upscale brick townhouses on the South side of E Hull between Habersham and Price. A number of those properties were listed for sale, well below the original selling price, in the last year.
The houses are all alike: they have a small enclosed courtyard beside the house but really no land to speak of. The courtyard can serve as a parking space or as a living space.
The houses are quite large, with a huge 3rd floor master area.
Not the prettiest development. When the lot across the street is developed, this row of houses could be quite attractive, however. Certainly one of the best values downtown.
A neutral bystander -- not an agent. I too am looking to buy in downtown Savannah -- a winter home for 2 Canadians who hate the cold!
Ted G.... more
To answer your question there are bargains to be had, however you have to act quickly when you do come across one. The Historic District is divided into two zones. The first is the Downtown Historic District roughly form Gwinett street north and the Victorian Historic District, which is roughly from Gwinett street South until you come to Victory Street. People (including a lot of Savanians) group them together. Prices are naturally higher around Forsyth Park, the squares and famous streets or landmarks. This year to date, the historic District currently has 403 homes on the market with 30 selling. Some houses have been on the market there for a year. On average houses sell for a little over 90% of the listing price. However remember this is an average. A lot of properties that go into foreclosure get close to listing price because bans have lowered the price so much. that even the list price is a deal. Which is why I said, once you find a deal, you have to act quickly. I live in the Downtown Historic District, and a house across the street from me and down five was on the market for 6 monthe at $435000. It went into forclosure for $300000 and was under contract in 2 weeks and closed for $295000. It is virtually the same house as mine, just a little older and I bought mine for $546000 two years ago and that was a good price! So in answer to your question, yes, a current bargain can be had, provided one is researched and diligently looked for.... more