Last Wednesday one of our agents participated in a neighborhood open house in the River Reach at Remley’s Point neighborhood. He had the Dunes Properties listing at 120 Wando Reach Ct. open for viewing
The same day as that open house, I read a blog on the real estate site Active Rain written by an agent in another state about how open houses are a waste of time and don’t sell the homes . Of course her post got me thinking.
Honestly, yes, most of the time an open house does not sell the property that is “open.” However, that doesn’t mean it isn’t a good idea to have one. I can think of several reasons why you may want to sit down with your listing agent and plan on having an open house.
- It gives the curious neighbors a chance to be looky loos. And who knows, maybe one of them has a family member or friend they want to live nearby and will talk up your house to them.
- There are many potential home buyers who may be unsure if they are interested and do not want to take up an agent’s time to show them a house they are waffling over. This gives them a chance to see the home firsthand without any pressure and decide if they want to proceed with making an offer or setting up a second showing for the home.
- Agents will do what we call a “caravan” and line up several nearby open houses over the span of a few hours and serve light food or offer a giveaway incentive (think gift card, gas card, cash drawing) to encourage other agents to view the home. This makes sure agents are familiar with the home and if they speak with a client who might be interested, they’ll be more inclined to remember the home and talk to their clients about it.
- Showing appointments can be a drain on you and your family’s time. If you find you are getting too frequent showing requests (which really is a good thing if you want to sell!) an open house may be a chance to lessen the number of showings.
- If your home has really unique features or word of mouth press in the community, there may be people who want to view it but have no interest in purchasing it or any other home. Having an open house may reduce those gratuitous showings.
Is an open house guaranteed to sell your home? No. Is an open house for every seller? Again, no. Have a conversation with your listing agent about the possible pros and cons for you.
West Ashley is located right across the river from The Citadel and there is a quaint little subdivison called Citadel Woods.
Jennifer Burke has an adorable renovated home for sale at 393 Culver Avenue listed for $210,000. If you have any questions or would like more information about this home, give Jennifer a call or email. Jennifer Burke (843) 251-5405 | firstname.lastname@example.org
We're sorry, but we couldn't find MLS # 1303114 in our database. This property may be a new listing or possibly taken off the market. Please check back again.
Tim Reese has just listed 1121 Middle Street on Sullivans Island.
If you have any questions about the home or area, contact Tim Reese. As a Sullivan’s Island resident, he can give you the inside track on living on this great little residential island.
Tim Reese (843) 906-1861 | email@example.com
We're sorry, but we couldn't find MLS # 1303465 in our database. This property may be a new listing or possibly taken off the market. Please check back again.
Less than five minutes from the heart of historic downtown Charleston you will find West Ashley’s The Crescent. The Crescent is a mix of traditional home styles in a perfect location. The neighborhood was established in the 1920s and many of the homes have been renovated.
Mother/ daughter real estate power duo Toddy Poore and Betty Poore have 1 New Town Lane listed and this is a must see home!
We're sorry, but we couldn't find MLS # 1224849 in our database. This property may be a new listing or possibly taken off the market. Please check back again.
Check out 120 Wando Reach Court. Our new listing in River Reach at Remleys Point, one of the more exclusive Mount Pleasant neighborhoods. This 5 bedroom, 4.5 bath home is 4939 sqft. and just must be seen to be believed. Lots of unique touches make this a wonderful home. Offered at $2,499,000. Listed by Joe Walker and Donnie Whitaker of dunes properties®.
Contact: Joe Walker (843) 345-4510 | Donnie Whitaker (843) 607-0954
We're sorry, but we couldn't find MLS # 1302879 in our database. This property may be a new listing or possibly taken off the market. Please check back again.
I did a little research this past week on the real estate market in Mt. Pleasant and learned a couple of interesting things about the Mt. Pleasant real estate market. In the local multiple Listing Service (MLS) Mt. Pleasant real estate is in two sections; properties south of Hwy 41, and properties north of Hwy 41.
The total number of homes listed for sale in all of Mt. Pleasant (both parts of MLS and both attached and detached homes) is 1159. This is a moving target, so the numbers will be different slightly this week. Of those homes listed there are 264 that are listed as contingent, meaning their under contract but area in the process of clearing those contingencies. Of these, some may not clear all contingencies and will return to the active status. The numbers show about 18.6% of the listed homes for sale in both sections of Mt. Pleasant are under contract.
Looking at the Median Prices provides some additional information that can be telling. For the area north of 41, the Median Price for all homes listed is $450,000, while the Median Price for the homes that are contingent is $315,000. A difference of $135,000 below the Median Price for all Listed detach homes. For homes listed in the south area below 41 the Median Price is $469,950, while the Median Price for the homes that are contingent is $372,500. A difference of $97,450 below the Median Price for all listed homes.
Attached homes have a lower Median Price, but show a similar trend. In the north area above 43, Median Price is $212,200 while the Median Price of contingent homes is $199,000. In the south area Median Prices for all listed homes is $229,945 while the Median Price for contingent homes is $156,500.
In all cases, the Median Prices show that the homes under contingencies have Median Prices well below the Median Price for all listed homes, both attached and detached. Since these homes are active contingent, the Median Price reflects the listed price at the time the home was classified as active contingent in MLS. The actual price paid is not reflected in any of these numbers.
The take away is that in this market, homes need to be price aggressively or buyers will look to properties that are! Buyers have more choices and will not look at homes that are not aggressively priced. A professional real estate agent knows the local market and is in the best position to help their clients price their homes competitively for that market.
We are professional Realtors and know the market in Mt. Pleasant. If you have questions about real estate in Mt. Pleasant, or you are looking for help buying your next home, or selling your current home, call us. If you know someone who may have questions, have them call us.
Maybe you have read about the real estate market in the Charleston, SC area and are wondering what to do. You wouldn’t be the only one! Information is valuable when you understand the context and what it means.
The number of new real estate listings is slowing. The number of current listings is decreasing. There are more price reductions each week than there are price increases. Mortgage rates are low and there are tax incentives that are about to expire. Is it the time to buy real estate?
Making sense of the information can be difficult. Especially if you think that we haven’t hit the bottom yet! After all prices are being lowered more than they are being raised. But maybe we have essentially hit bottom because there are fewer listings and fewer new listings coming on the market. Rates are low now, but they WILL go up…soon, maybe. What should you do?
One of the Dunes Properties professional real estate agents can help you to make sense of the market. I am one of those agents and I can help you make sense of the confusing information you read each day about real estate. Our market is good. Whether you are buying your first home or moving to you dream home, we can help you make the best decision for you.