Charleston SC Real Estate Blog - Charleston SC Real Estate: Buying a Home

Five Surprising Reasons to Buy a Home Now

Sun, 08 Aug 2010 07:34:00 -0400

The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your Charleston SC Real Estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:

Five Surprising Reasons to Buy a Home Now

ForSaleByOwner.com offers five good reasons why now is a great time to buy a house:

1. Low mortgage rates serve as an equity shock absorber. When buyers borrow at today's record-low rates, they start building equity as soon as they close. That means they can absorb a few ups and downs as the still-recovering housing market gains traction.

2. Houses are in move-in condition. Home owners have continued to spend on maintenance and repair, according to the Harvard Joint Center on Housing. As these houses enter the market, they are in marked contrast to tattered foreclosures.

3. Terrific houses are coming on the market. Foreclosures are finally starting to clear the system, and they are being replaced by some very attractive properties.

4. Appraisal regulations are finally aligned with market realities. Fannie Mae has adjusted its appraisal guidelines, giving appraisers more flexibility to set values that reflect the current market.

5. Plenty of programs. Many programs that encourage middle-class families to buy homes continue to exist, despite market downturns. Buyers who qualify can get a big boost by combining one of these programs with today's low mortgage rates.

As always, your thoughts, questions, or comments are greatly appreciated.

Let me know if I can help with any of your Charleston SC Real Estate needs or questions.

See Charleston SC Real Estate Blog for local attractions and current Charleston events.

Look at Charleston SC Real Estate homes anywhere in the tri-county area.

View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210

Sincerely,

"Carolina Joe" Idleman
http://www.carolinajoe.com

6 Ways to Get Your Offer Ratified Quicker

Sat, 07 Aug 2010 09:11:00 -0400

6 Ways to Get Your Offer Ratified Quicker

Helping eager buyers get the home of their dreams isn’t so easy in this unsettled market. Here are 6 tips for making sure sellers won’t turn up their nose at an offer:

1. Make sure you are pre-approved for a mortgage (not to be confused with being pre-qualified) so they can close in about 14 days.

2. Study the buyer. Have they made an offer on another home or are they working against any other kind of deadline?

3. Make a clean offer – no requests for help with closing costs and the fewest contingencies possible.

4. Offer 10 percent of the purchase price in earnest money.

5. Offer the full list price, preferably in cash.

6. Write a love letter to sellers, telling them all the things you love about their home

As always, your thoughts, questions, or comments are greatly appreciated.

Let me know if I can help with any of your Charleston SC Real Estate needs or questions.

See Charleston SC Real Estate Blog for local attractions and current Charleston events.

Look at Charleston SC Real Estate homes anywhere in the tri-county area.

View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210

Sincerely,

"Carolina Joe" Idleman
http://www.carolinajoe.com

A Wish List for a Dream Home

Thu, 22 Jul 2010 11:40:00 -0400

A Wish List for a Dream Home

Your real estate agent may not be your fairy godmother, but they have powers to grant you many of your home buying wishes.

What is your first step in finding your dream home? You must develop a strong image in your mind and a sound list for your agent, of what you want of your dream home.

To make this process a little less daunting, consider these categories:

Location: It has been lauded for years as the most important factor when it comes to the saleability and pricing of home, and it's a good place to start when compiling your wish list. Do you want a short commute to work? Are you looking for a waterfront property? Do you want to be near family? Is there a particular neighborhood you want to make home? These are all important questions that will help your agent narrow their search for your dream home.

Neighborhood: If you are looking for a family home, then you need to research the local schools. Is there a particular school district you want to be in, or perhaps to stay in? Do you want a neighborhood within walking distance to shops and restaurants? Or perhaps you prefer something more quiet, or on a cul-de-sac.

Home Styles: Do you prefer large, open floor plans and Modern architecture? Or are you a fan of cozy and functional Country style plans? A Tudor style home is exemplified by tall, narrow windows with small panes and a reminiscence of Medieval looks. How about Victorian style homes, which feature elaborate details on the exterior and interior of the home?

Home Features: Not every buyer is seeking the same features. What is it that you desire most? Fireplaces, guest bathrooms, an open floor plan, formal dining, a media room, covered porches, a screened porch, a large finished garage, or a pool? The same concept goes for decorative features, including flooring preferences, crown molding, and exterior siding.

Condition: Are you on the lookout for a fixer-upper? Some buyers thrive on the challenge of restoring a former beauty to its original glory. Or are you the type that wishes for new construction, so you can put your own mark on the property? Also consider the idea of townhomes and condos, which can afford the homeowner even more freedom from maintenance.

Use these categories as a starting point for creating your own wish list. And then pass it on to your own fairy godmother!

As always, your thoughts, questions, or comments are greatly appreciated.

Let me know if I can help with any of your Charleston SC Real Estate needs or questions.

See Charleston SC Real Estate Blog for local attractions and current Charleston events.

Look at Charleston SC Real Estate homes anywhere in the tri-county area.

View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210

Sincerely,

"Carolina Joe" Idleman
http://www.carolinajoe.com

12 Tips to Make Your Move Simple and Stress Free

Sat, 17 Jul 2010 06:55:00 -0400

12 Tips to Make Your Move Simple and Stress Free

Packing your belongings and moving is often fraught with high emotions and involves a to-do list a mile long. So, it’s tempting to give only passing attention to hiring a mover and the related incidental costs. That could be a mistake—for your wallet and your peace of mind. Moving can be quite expensive. A typical full-service interstate move costs about $4,300, while the same in-state move might cost about $2,500, according to the American Moving & Storage Association. And while the moving industry has many fine companies, it is notorious for fraud and dirty tactics by so-called rogue movers.

Here are 12 tips to make your move simple and avoid the hassle:

1. Choose a type of move: You have three basic choices: do-it-yourself, full service and a relatively new hybrid of the two. Going it alone is the cheapest alternative, costing the rental price of a truck, gasoline, packing materials and, perhaps, pizza and beer for friends you rope into helping. With full-service moves, moving within a state is charged by the hour, while moving across state lines is charged by weight and mileage.

With a hybrid move, a mover will drop off a large container at your home for you to pack. The mover will then load the container onto a truck, drive the belongings to your new location and drop off the container for you to unload. Because you’re doing the manual labor of packing and unpacking, it’s far less costly than a full-service move.

2. Hire a quality mover: If you hire help, get at least three price quotes and do your homework before selecting a mover. Seek recommendations by talking with family and friends, even your Facebook circle. Investigate a company’s reputation with the Better Business Bureau (bbb.org), Yelp.com and possibly the paid-membership site Angie’s List (angieslist.com). Check a company’s complaint history at the federal government site, ProtectYourMove.gov.
“People think a good reputation equals expensive, but that’s not true,” said Laura McHolm, co-founder of NorthStar Moving in Los Angeles. “You don’t get a good reputation by overcharging people.”

3. Look for two things when hiring a moving company: A full-service mover should visit your home in person, not give a quote over the phone or online, and should provide a written estimate, experts say.

4. Declutter: No matter what type of move you’re making, taking less stuff is cheaper and less hassle. Set up a staging area, perhaps in a garage, with various piles, such as throw out, recycle, donate and sell.
For many items, use the rule of thumb, ‘If you haven’t used it in a year, you probably don’t need it.’

5. Be flexible: Like airline fares, moving rates depend on when you book. The busiest time for movers, and thus the most expensive time for consumers, is summer weekends near the 15th and 30th of the month.

If you have time flexibility, ask what rates would be for different days or seasons. If you have extreme flexibility, ask about moving standby: waiting until the mover has extra space and needs to fill a truck.

6. Save on boxes: Buying new boxes from a moving company is the most expensive choice. To save some money on packing materials, ask if you can buy used boxes from your moving company.

Cheaper yet is finding free boxes, ideally from somebody who just moved. Ask your real estate agent to connect you with other clients who recently moved or look on Craigslist.org. Specialty boxes, such as wardrobe boxes, might be cheaper to purchase at a do-it-yourself moving store, such as U-Haul, than from your mover.

7. Save on packing materials: If you’re packing your belongings yourself, fill suitcases, laundry baskets and plastic containers with unbreakable items. Use pillows, scarves and towels to wrap fragile belongings.

8. Mail books: If you have a large collection of books, pack them yourself and ship them at the postal media mail rate as it might be cheaper than paying a mover—a 70-pound box would cost less than $30.

9. Consider consolidation: For long-distance moves, ask about consolidating your stuff on a truck with other people’s as most homeowners can’t fill a full-size moving van. You might have to be flexible on delivery dates and times, but consolidation can be cheaper.

10. Insure it: Check your homeowner’s or renter’s insurance policy to determine whether it provides coverage for your belongings while in transit. If not, you’ll probably want more than the basic free valuation coverage a full-service mover provides. The standard valuation is 60 cents per pound per item. That means breaking a 10-pound, $1,000 stereo system would net you $6. You’ll want full replacement-value insurance, which reimburses you what it will cost to replace broken items. But don’t necessarily buy that insurance from the moving company. Moving insurance is likely cheaper from a third party, but be aware that you probably cannot get insurance on boxes you packed yourself.

11. Be prepared: Plot out where furniture and boxes will go before moving day arrives. The less time movers spend rearranging, the less expensive it will be.
In urban areas, reserve a space or two in front of your new home for the moving truck by parking your own vehicle there ahead of time. If the movers have to park too far away to unload, you could incur a ‘long carry’ surcharge.

12. Stake your claim: If you’re moving for a job, negotiate the best relocation package you can. Unreimbursed expenses might be tax-deductible. For details, see Publication 521 Moving Expenses at IRS.gov.

Tip: Tipping each mover $3-$5 per hour is customary, said Stephen Coady, marketing manager for Gentle Giant Moving Co. in Somerville, Mass.

As always, your thoughts, questions, or comments are greatly appreciated.

Let me know if I can help with any of your Charleston SC Real Estate needs or questions.

See Charleston SC Real Estate Blog for local attractions and current Charleston events.

Look at Charleston SC Real Estate homes anywhere in the tri-county area.

View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210

Sincerely,

"Carolina Joe" Idleman
http://www.carolinajoe.com

June 2010 National Housing Trends

Tue, 13 Jul 2010 11:21:00 -0400

June 2010 National Housing Trends

Housing Trends Update is published monthly and is available only to real estate agents who are
part of the Campbell/Inside Mortgage Finance monthly survey panel. Click userfiles/file/HousingTrendsUpdate_Jun10.pdf to see the June 2010 housing trends.

As always, your thoughts, questions, or comments are greatly appreciated.

Let me know if I can help with any of your Charleston SC Real Estate needs or questions.

See Charleston SC Real Estate Blog for local attractions and current Charleston events.

Look at Charleston SC Real Estate homes anywhere in the tri-county area.

View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210

Sincerely,

"Carolina Joe" Idleman
http://www.carolinajoe.com

17 Questions Real Estate Agents Should Ask Buyers Prior To Starting Home Search

Fri, 25 Jun 2010 10:06:00 -0400

17 Questions Real Estate Agents Should Ask Buyers Prior To Starting Home Search

Here are seventeen questions real estate agents should ask each prospective buyer prior to looking at homes. Let me know what you think.

1. Why do you want to buy a home?

2. Are you currently working with another real estate agent?

3. Has anyone explained South Carolina real estate agency law to you?

4. Do you want to be a customer or a client? To be a client you must sign a buyer’s representative contract.

5. How soon do you need to purchase a home?

6. Do you know where you want to live?

7. What is your price range?

8. Will this be a cash sale, or will you be getting financing?

9. You need to get prequalified / preapproved for financing prior to looking at homes. Do you need a recommendation for a lender?

10. Do you want me to set up a search for you that will send you properties meeting your search criteria?

11. How many bedrooms?

12. How many bathrooms?

13. How many square feet?

14. What are your parking requirements?

15. Any other important home features?

16. Location?

17. After you get qualified for financing, when will you ready to start looking?

As always, your thoughts, questions, or comments are greatly appreciated.

Let me know if I can help with any of your Charleston SC Real Estate needs or questions.

See Charleston SC Real Estate Blog for local attractions and current Charleston events.

Look at Charleston SC Real Estate homes anywhere in the tri-county area.

View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210

Sincerely,

"Carolina Joe" Idleman
http://www.carolinajoe.com

South Carolina April 2010 Market Analysis

Thu, 27 May 2010 08:24:00 -0400

The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:

South Carolina April 2010 Market Analysis

As expected, buyers in South Carolina took advantage of the federal first-time home buyer tax credit last month, which officially came to a close on April 30. Pending Sales were up 16.3 percent versus last year at this time, with 4,802 contracts written. That is the highest number of pending sales since April 2008. Closed Sales were also up 25.0 percent to 4,196.

To capitalize on buyer activity, sellers added 10,863 new listings to the market in April, an increase of 22.3 percent compared to last year. They may have also been encouraged by the Median Sales Price which was up 4.4 percent to $144,000. This influx of listings has pushed the Months Supply of Inventory up 3.7 percent to 14.9, and inventory itself was also up 3.2 percent to 56,844. This is also a high mark. In fact, it's the most properties available in South Carolina since modern methods of data tracking began in 2007.

As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.

To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/

View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210

Sincerely,

"Carolina Joe" Idleman
http://www.carolinajoe.com

What Do You Want and Need in a Home?

Sun, 16 May 2010 07:23:00 -0400

The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:

What Do You Want and Need in a Home?

Finding a new home can be exciting. But deciding what you want and need, and can afford can be quite challenging. Making these decisions begins with setting priorities among many different preferences. Most homebuyers invariably face trade-offs.

Here are many of the considerations you will face:

1. Basic Home Features
     1. Do you prefer a single family detached home, townhome, or a   condominium?
     2. How many bedrooms?
    3. How many bathrooms?
     4. Preferences regarding kitchen, ding room, family room, etc., and overall floor plan.
     5. High priority home features.
     6. Any special rooms that may be needed.
     7. Amount of available storage.
     8. Parking needs

2. Other home Preferences
     1. Style of home
     2. Age of home
    3. Energy efficiency or green features

3. Location
    1. Is the neighborhood comfortable?
   2. Is this an acceptable commuting distance?
   3. Proximity to desirable features such as community center, shopping, dining, hospitals, etc.
   4. Is this an acceptable school district?

4. Lot Characteristics
    1. Is size and shape acceptable?
    2. Is the view acceptable?
   3. Is the landscaping and cub appeal acceptable?
   4. Is the home’s orientation acceptable?
   5. Proximity to neighbors
    6. Functional for you pets?

5. Related costs
    1. Are homeowner association fees or regime fees acceptable?
   2. Are the necessary homeowners insurances (hazard, wind and hale, and flood) acceptable?
    3. Property taxes
    4. How much are you prepared to invest beyond the purchase price if you can’t find exactly what you want.

6. Resale
    1. How long do plan on living in this home?
    2. How will this impact the type of home you will buy?
    3. Will this impact the location you select?

As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.

To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/

View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210

Sincerely,

"Carolina Joe" Idleman
http://www.carolinajoe.com

2010 Home Trends

Mon, 10 May 2010 06:43:00 -0400

The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:

2010 Home Trends

Today’s New Construction Homes

Housing starts began declining in 2006 and have yet to show a significant rebound. New construction homes are definitely smaller. Consider these facts: the average size of a single family house was flat in 2008 and down in 2009, homes with at least 3 bedrooms were down in 2009 for the first time since 1992, homes with for or more bedrooms have been falling since 2007, and homes with two stories peaked in 2006 and have been in a downward trend since.

Homebuyer’s are still interested in the “WOW” factor, but there are different ways to get it. Here are the 10 most likely features the builders will include in 2010:

1. Walk-in closet in master bedroom
2. Laundry room
3. Insulated front door
4. Great room
5. Low-e Windows
6. Linen Closet
7. Programmable thermostat
8. Energy efficient appliances and lighting
9. Separate shower and tub in master bedroom
10. 9 foot ceilings or higher on first floor

Which features are most likely to not be built include an outdoor kitchen, outdoor fireplace, sunroom, butler’s pantry, and a media room.

As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.

To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/

View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210

Sincerely,

"Carolina Joe" Idleman
http://www.carolinajoe.com

10 Most Important Design Features for 55+ Buyers

Wed, 05 May 2010 09:03:00 -0400

The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:

10 Most Important Design Features for 55+ Buyers

Aging Baby boomers hold a significant amount to consumer buying power. According to the North America Home Builder’s Association research found the 55 and over buyers consider the following as important design features:

1. Washer and dryer in the home
2. Storage space
3. Windows that open easily
4. Garage door opener
5. Easy to use thermostats
6. Master bedroom on first floor
7. Private patio
8. Porch
9. Attached garage
10. Bigger bathrooms

Smaller, energy efficient homes incorporating these 10 design features are extremely important to the 55 and over consumer.

As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.

To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/

View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210

Sincerely,

"Carolina Joe" Idleman
http://www.carolinajoe.com

Buyers Should Push to Cut Junk Fees

Sun, 02 May 2010 07:21:00 -0400

The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:

Buyers Should Push to Cut Junk Fees

Now is a good time for home buyers to push for lower closing costs.

Closing costs include lending charges, local tax and transfer fees, and expenses for such things as title insurance, appraisal costs, and other third-party services. The rule of thumb used to be about 3 percent of the cost of the property.

Today, most buyers should be able to do better than that, said Guy Cecala, publisher of industry newsletter Inside Mortgage Finance. Fees that buyers shouldn’t have much trouble negotiating away include wire-transfer fees, loan application-processing fees, and high FedEx charges.

"It all boils down to what a lender will work for," says Cary Pearce, production manager at Provident Bank Mortgage in Riverside, Calif.

As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.

To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/

View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210

Sincerely,

"Carolina Joe" Idleman
http://www.carolinajoe.com

Source: Investor’s Business Daily, Kathleen Doler (04/22/2010)

5 Costly Mistakes First-Time Buyers Make

Thu, 29 Apr 2010 10:01:00 -0400

The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:

5 Costly Mistakes First-Time Buyers Make

Buying a first home can be a daunting experience. Here are five common and costly mistakes that novice home buyers make:

1. Ignoring the costs of having a low credit score. Lower-score borrowers pay thousands of dollars in increased interest rates over the life of the loan.

2. Muddying the waters by shopping for other things before closing. Lenders continue to check credit scores right up until the time of closing. Too much shopping could cause the lender to take back the loan.

3. Scrimping on an inspection. Being surprised by the need for expensive repairs can be financially devastating.

4. Buying without contingencies. Buyers should give themselves an out if the inspection turns up problems or the bank raises the interest rates.

5. No money for insurance. Insurance can be surprisingly pricey. Buyers who don’t budget for it can face a nasty surprise.

As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.

To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/

View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210

Sincerely,

"Carolina Joe" Idleman
http://www.carolinajoe.com

Source: CNNMoney.com, Les Christie (04/19/2010)

First-Time Home Buyers, Sellers Optimistic

Tue, 27 Apr 2010 08:52:00 -0400

The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:

First-Time Home Buyers, Sellers Optimistic

More than 48 percent of first-time buyers expect home prices to increase by this time next year, according to a survey by Century 21 Real Estate.

The survey posed questions to people who had bought or sold a home in the last year.

Sixty percent of first-time home buyers say they didn’t understand the process of buying a home, and more than 85 percent of both first-time buyers and sellers said that using a real estate professional was important.

The top three skills valued in a real estate professional by both buyers and sellers were knowledge of the area, trustworthiness, and responsiveness.

More than 80 percent of buyers believe now is a good time to buy a home. First-time home buyers rated these three factors as the most influential in their decision:

• Current housing prices: 66 percent
• Home Buyer tax credit: 63 percent
• Low loan rates: 60 percent

In choosing a home, 95 percent of first-time home buyers thought price was the most important consideration, but 90 percent were also very concerned about neighborhood safety.

About 54 percent of first-time sellers think home prices are more affordable now than they were this time last year, and 50 percent were selling because they were purchasing a property they saw as more attractive and better suited to their needs.

As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.

To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/

View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210

Sincerely,

"Carolina Joe" Idleman
http://www.carolinajoe.com

Source: Century 21 Real Estate LLC (04/21/2010)

Home Sales Rise on Tax Credit, Favorable Market

Mon, 26 Apr 2010 10:39:00 -0400

The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:

Home Sales Rise on Tax Credit, Favorable Market

Buyers responding to the home buyer tax credit and favorable affordability conditions boosted existing-home sales in March, marking the beginning of an expected spring surge, according to the National Association of REALTORS®.

Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums, and co-ops, rose 6.8 percent to a seasonally adjusted annual rate of 5.35 million units in March from 5.01 million in February, and are 16.1 percent above the 4.61 million-unit level in March 2009.

Lawrence Yun, NAR chief economist, said it is encouraging to see a broad home sales recovery in nearly every part of the country, with two important underlying trends. “Sales have been above year-ago levels for nine straight months, and inventory has trended down from year-ago levels for 20 months running,” he said. “The home buyer tax credit has been a resounding success as these underlying trends point to a broad stabilization in home prices. This is preserving perhaps $1 trillion in largely middle-class housing wealth that may have been wiped out without the housing stimulus measure.”

Rise in Inventories, Prices

Total housing inventory at the end of March rose 1.5 percent to 3.58 million existing homes available for sale, which represents an 8.0-month supply at the current sales pace, down from an 8.5-month supply in February. Raw unsold inventory is 1.8 percent below a year ago, and is 21.7 percent below the record of 4.58 million in July 2008.

“Foreclosures have been feeding into the inventory pipeline at a fairly steady pace and are being absorbed manageably,” Yun said. “In fact, foreclosures are selling quickly, especially in the lower-price ranges that are attractive to first-time home buyers.”

A parallel NAR practitioner survey shows first-time buyers purchased 44 percent of homes in March, up from 42 percent in February. Investors accounted for 19 percent of transactions in March, unchanged from February; the remaining sales were to repeat buyers. All-cash sales remain elevated at 27 percent in March, the same as in February.

The national median existing-home price for all housing types was $170,700 in March, up 0.4 percent from March 2009. Distressed homes, typically sold at a 15 percent discount, accounted for 35 percent of sales last month – unchanged from February.

“With home values stabilizing, a revival in home buying confidence will likely help the housing market get back on its feet even as the tax credit impact disappears,” Yun said.

A Great Time to Buy

NAR President Vicki Cox Golder said buying conditions are in near-perfect alignment. “Even with tougher loan standards, historically low mortgage interest rates with affordable prices and a sense that the market is turning have created optimal conditions in much of the country,” she said.

“With the fast-approaching April 30 deadline to get a contract in place for the tax credit, REALTORS® are working harder than ever to negotiate transactions, arrange services and complete paperwork,” Golder said. “Because many repeat buyers need to sell their current home first, many will be purchasing later without the tax credit but now have the benefit of a more buoyant housing market.”

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage dipped to 4.97 percent in March from 4.99 percent in February; the rate was 5.00 percent in March 2009.

Single-family home sales rose 7.3 percent to a seasonally adjusted annual rate of 4.68 million in March from a level of 4.36 million in February, and are 13.3 percent above the 4.13 million level a year ago. The median existing single-family home price was $170,700 in March, up 0.6 percent from March 2009.

Regional, Metro Area Performances

Single-family median prices rose in 14 out of 20 metropolitan statistical areas reported in March in comparison with a year earlier. Five metro areas experienced double-digit increases, including San Diego, St. Louis, and Boston.

Existing condominium and co-op sales increased 3.1 percent to a seasonally adjusted annual rate of 670,000 in March from 650,000 in February, and are 39.3 percent higher than the 481,000-unit level in March 2009. The median existing condo price was $170,600 in March, which is 0.7 percent below a year ago.

Regionally, existing-home sales in the Northeast increased 6.0 percent to an annual level of 890,000 in March and are 25.4 percent higher than a year ago. The median price in the Northeast was $249,800, up 8.9 percent from March 2009.

Existing-home sales in the Midwest rose 7.2 percent in March to a pace of 1.19 million and are 15.5 percent above March 2009. The median price in the Midwest was $139,300, up 0.2 percent from a year ago.

In the South, existing-home sales increased 7.1 percent to an annual level of 1.97 million in March and are 13.9 percent higher than a year ago. The median price in the South was $154,800, up 5.2 percent from March 2009.

Existing-home sales in the West rose 6.6 percent to an annual rate of 1.30 million in March and are 14.0 percent above March 2009. The median price in the West was $209,400, down 7.9 percent from a year ago.

As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.

To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/

View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210

Sincerely,

"Carolina Joe" Idleman
http://www.carolinajoe.com

Source: NAR

More Single Buyers Opt for Suburbs

Sun, 25 Apr 2010 07:16:00 -0400

The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:

More Single Buyers Opt for Suburbs

More singles are buying homes in suburbia, reports Coldwell Banker, which conducted a nationwide survey of single home owners on the factors that motivated them to buy.

Here are some figures that reflect the reasoning behind their choices:

1. 52 percent chose the suburbs over urban or rural areas.

2. 53 percent of single home owners said they purchased a home because it was a better deal than renting.

3. 68 percent chose a home priced lower than they could afford.

4. Of the 13 percent who own their home jointly with another person, 49 percent made the purchase with their parents.

5. 55 percent have less than a 30-minute commute to work.

6. 40 percent live within 30 minutes of their parents or extended family.

7. 27 percent of women thought the number of bedrooms were important.

8. Only 18 percent of men felt the same way.

9. 38 percent of men would consider buying a foreclosure, while only 29 percent of women would consider one.

As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.

To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/

View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210

Sincerely,

"Carolina Joe" Idleman
http://www.carolinajoe.com

Source: Coldwell Banker (04/14/2010)