Short Sale…no thanks. Just show me a motivated seller.
Everybody wants a deal, and now is the time. Don’t believe it’s the time to buy Real Estate yet? I disagree.
I must admit as a Realtor I may sound somewhat biased, but I practice what I preach. I’m a Buyer myself. I’ve purchased 3 homes myself in the last 2 years and tried for a fourth just last week losing out on a home that had 6 offers on it within days of coming on the market. Are you thinking that must have been a good deal? It was. 1600 square foot ranch home on James Island in a great neighborhood (mine in fact). List price…$99,000. Not a short sale. Not bank owned. It was an estate sale being executed by an attorney. Motivated Seller.
I avoid short sales. When I hear short sale, I think headaches and heartbreak for almost everyone involved. You can find a deal that way. And if you really love a property in a short sale situation, I would definitely attempt to purchase it via short sale first. But in my experience, you still may be paying more than you need to… but that’s a conversation for another day.
Motivated Sellers come in all forms and I do my homework to find them. I watch bank owned and estate sales. I watch for multiple reductions in a short period of time. I watch for major reductions. But these are not the only telling factors. People need to sell for all kinds of reasons…job transfer, loss of job, marriage, divorce, kids, up-sizing, downsizing, graduation, retirement, travel, health reasons and yes, financial reasons. These motivating factors happen in any market.
Here are some examples of the motivated sellers I’ve found for my buyer clients in the last 6 months:
Downtown Charleston – 1025 sq ft house with 2 off street parking spots and a yard. 1 block from Marion Square and steps off Calhoun .
Purchased for $190,000 – Tax appraisal valued the land alone at $228,000. Bank owned multiple offer situation.
(Link to listing – 2912368)
Folly Beach – Full .24 acre street to street lot with main house of 1500 sq ft and two 1 bedroom cottages on same property. 3 blocks to the beach.
Purchased for $360,000 – 3rd lowest residential purchase on Folly Beach in the last 3 years. Estate sale multiple offer situation.
(Link to listing – 2902489)
Mariners Cay – 2 bedroom, 2-story condo with views overlooking Folly River and the Marina
Purchased for $215,000 – Lowest priced purchase in Mariners Cay the last 5 years. Motivated out of town Seller.
(Link to listing – 2906274)
James Island – 3 bedroom, 2 bath, 1528 sq ft ranch home in Lighthouse Point
Purchased for $120,000 – Bank owned property multiple offer situation.
(Link to Listing – 2828792)
West Ashley – 2 bedroom, 1 bath single family home in Parkwood Estates
Purchased for $101,000 – Bank owned property multiple offer situation.
(Link to Listing – 2921950)
There ARE deals out there. When they are this good, they don’t last more than a few days and sometimes they are under contract in hours. I can notify my clients within minutes of them coming on the market. I’m not a salesman. I present my clients with the facts, the comparable sales and they decide for themselves. The Charleston area is full of deals, and I can help find them. Feel free to call or contact me with questions.