Good chilly morning! We have had all the rain we need, thank you! It finally cleared up here and for the next week we are going to have sunshine, blue skies and temperatures in the mid seventies. Life is pretty darn good here on the Charleston Coast.
Real estate activity lately has been on the rise. We are seeing an increase in the number of properties sold, but a decrease in sales prices. There is plenty of interest in foreclosure and short sale properties, but why go through all the hassle when there are properties on the market priced even lower that are neither? Just smart sellers getting in front of the decline in the market. If you would like a list of some of my best buys just shoot me an email or go to my blog. I’ll be updating that list this afternoon (they are not just my listings.)
There is some good reading in this month’s E-Newsletter. The three main articles of interest include: “Knowledge is Power When Buying a House”, “Five tips to Increase Your Home’s Appeal, and “Four Questions Help Determine Improve or Move”.
And, pay attention to interest rates! Mark and I are re-financing because the rates are incredibly low! Call your lender this week to see if you can take advantage of the rates before they go back up.
As always, I hope you’ll give a call or stop by when you are in the area. Talk with you soon.
Betty Poore – Realtor
Your Connection to the Charleston Coast
Momentum is going strong for Folly Beach real estate. Many Folly Beach homes and condominiums are trading hands while people take advantage of low prices and low interest rates. The pace of existing home sales has quickened and is returning to normal levels. Below is a summary of activity for July 2010. Contact me for the whole picture of the market.
11 properties sold in July 2010 on Folly Beach, bringing the total sold in 2010 to 61. Through 7 m0nths of 2010, we have sold as many as all of 2009. No tax credit disclaimer here, most buyers on Folly Beach would not qualify for the first time homebuyer credit. So we have legitimate demand for homes, which makes sense at the current average price in July of $331,829. If that sounds good to you, come on down and join us.
There have been a handful of foreclosed properties and great investment deals, but they go quickly and you really have to be in a position to move. they best way is to get educated on the market and be able to pounce when needed. I can help lead the way.
Some of the sales in July were:
A 3 bedroom Charleston Oceanfront Villa for $640,000
A 2nd row lot on East Arctic for $300,000
A condominium in Marsh Winds for $135,000
As prices fall lower, the low hanging fruit is easiest to pick, and that is exactly what is going on here on Folly. People are realizing that the prices are worth pulling the trigger, if you have always wanted the Folly Beach lifestyle. If you have ever considered buying, or are interested in selling your home, let me fill you in on the state of the market.
Are you be interested in buying a foreclosure property on Folly Beach? Well you better be ready to jump when they come on the market. This week two properties were listed on Folly Beach in the $300,000 range, one was a foreclosure. They both went under contract in less than one week, the foreclosure was under contract in days. This tells me that there are many buyers paying attention to the market.
Your best strategy to take advantage of one of these properties is to work with someone who keeps an eye on the market. I work day in and day out keeping my clients updated on any changes in the market. Let me know what you are looking for and I will contact you when these type of properties come available.
We all know the sad news, foreclosures are up in South Carolina as well as most of the country. However, if you are interested in purchasing property in Charleston, now could be the time to look. There are some great deals to be had.
Our agents are educated about buying and selling short sale properties and they have the tools, skills and information needed to navigate those tricky waters.
Give us a call 800.476.8444 or stop by one of our three offices (31 Center St. on Folly, 214 King St. downtown, or 1400 Palm Blvd. on the Isle of Palms). Nobody knows the Charleston Coast better.
Here is a link to a great article from RISMEDIA which is a great source of real estate news. Click for article by Jeff Lischer.
On November 30, 2009, the Treasury Department released guidelines and forms for its new Home Affordable Foreclosure Alternatives Program (HAFA), which will help homeowners who are unable to retain their home under the Home Affordable Modification Program (HAMP). Under HAFA, a borrower (the current owner) may be able to avoid foreclosure by completing a short sale or a deed-in-lieu of foreclosure (DIL).
Act fast on this opportunity to own an incredible Folly Beach deep water property for a steal! The builder has thrown his hands up and will let it go at auction prices to avoid foreclosure or short sale. This waterfront property will need to be finished which gives you a chance to add your tastes, and has awesome views of the Folly River Wait! It gets better, it is sold with a shared deep water dock! This is a huge home on Folly Beach for a fraction of what it should really cost. There were two available now only one left.