Midlands home sales rise

Five new homes sat ready in the Lake Carolina community last May while the Midlands real estate community held its breath.

They had been built specifically for a home tour event in the hopes of attracting buyers after years of declines in the industry that took away half of the market.

Over the three weekends of the Parade of Homes tour, as more than 8,000 potential buyers tromped through them, the $400,000-plus houses sold, one by one.

And many of those waiting nervously, finally exhaled.

It was a pivotal moment — for the builders, the neighborhood and the Midlands real estate community as a whole.

“From that time on, we’ve continued to build momentum,” said Carol Douis, president of Lake Carolina Properties. Read more

Declutter That House to Sell It Faster – Market Ready

Q. What’s the best way to declutter my home before I show it to potential buyers? Can I leave packed boxes in a corner or do I need to move things into storage?

 

A. Even if your house hasn’t been featured on “Hoarders,” making an effort to clear out clutter and to ensure that your home is as neat and tidy as possible before opening your door to buyers is common advice in real estate circles. And for good reason, said Jeffrey Stockwell, a senior vice president with Stribling & Associates in Manhattan. Read more

Fannie and Freddie Set Timeline Requirements for Short Sales

Beginning June 15, real estate agents working with distressed homeowners whose loans are backed by Fannie Mae and Freddie Mac should expect to receive a decision on a short sale offer within 30-60 days.

The GSEs issued new guidelines Tuesday that fall under the Servicing Alignment Initiative rolled out last fall and aim to bring greater transparency to the short sale process and expedite decisions related to these pre-foreclosure sales. Read more

3 Things to Know About Appraisals

If you haven’t had your home appraised in a while, here are three important things you need to know because the process has changed — dramatically. And while appraisal qualifications haven’t changed over the past few years, the process has says Ken Chitester, the Appraisal Institute’s spokesperson.

1. Relationship between lenders and appraisers removed

The biggest change is that lenders and appraisers no longer work together — a method that many say was a breeding ground for appraisal fraud. “Lenders used to put all this pressure on the appraiser to inflate home values to hit certain numbers so that it was a win-win for all,” says Chitester. At its core, the HVCC (Home Valuation Code of Conduct), which took effect May 1, 2009, was designed to prohibit mortgage professionals from hand-picking appraisers in lieu of using appraisal management companies (AMCs). And while fraudulent activity is down as a result of the HVCC, says Tim Coyle, a senior director at Real Estate & Mortgage Solutions, new problems have arisen (See next item). Read more

3 questions buyers should ask before canceling a purchase

Q: I was under contract to buy a home. It took forever for the mortgage company to get its act together, but we finally got to a closing date. During the final walk-though I noticed that most of the items the seller was supposed to repair were not fixed.

The listing broker said the repairs had been made, but did not have any paperwork proving it, so I decided to cancel the contract. Now, the seller is trying to get money from me for waiting until the last minute to cancel the deal. Can she really do that? I’ve now had to hire a lawyer. This whole mess is costing me money I don’t have! –Hazel

Well, first things first: Some of the definitive answers to your questions will vary slightly depending on the law and standard real estate practices that govern in your state and the specific terms of your contract. Read more

What’s Hot With Outdoor Living Trends

It’s not quite spring yet, but it’s not too early to start thinking about your listings’ outdoors–your buyers certainly will, even if they can only visualize it during the cold, wintery months.

The American Society of Landscape Architects conducts an annual Residential Trends Survey. Here are some of the findings from its 2011 survey, based on what landscape architects say are very to somewhat popular outdoor living feature trends: Read more

5 Low-Cost Kitchen Updates to Attract Buyers

Considered the heart of a home, the kitchen can be instrumental in selling a property. Many buyers prefer dwellings with modern kitchens, especially since it’s a room they’ll use every day and a place where they will entertain guests.

Attend open houses in the neighborhood to see how kitchens compare. If all the other homes have new appliances, your sellers will want to do the same or accept a lower price.

But a kitchen retrofit does not have to be extensive. A recent Realty Times article offers tips on attracting buyers with lower-cost kitchen upgrades. Read more

Become your kid’s mortgage lender

Between slumping prices and low mortgage rates, it’s a good time to look for real estate bargains. But thanks to tightened lending standards, legions of young would-be homebuyers aren’t exactly in a position to take advantage of the opportunity. That’s where their parents come in: One in three first-time buyers received either a gift or a loan from their families to help buy a home in 2011, according to the National Association of Realtors.

Such a move can provide significant financial benefits to child and parent alike. But you need to proceed carefully to maximize the tax and estate-planning advantages and avoid unpleasant family conflicts.

The most straightforward way for a parent to lend a hand is to simply give your child some cash. There is a limit, however, to how much money the federal government will let you give away tax-free in any one year. In 2012, a taxpayer can give $13,000 to an individual without triggering so-called gift taxes. Married couples may underwrite their child to the tune of $26,000 a year. Read more

Get Out Of Debt

Get out of debt today! It sounds a bit like a late-night infomercial, but the truth is that a debt-free lifestyle can be within reach for you and your family.

Reducing your debt-load can be the next, and biggest step, towards owning a home of your own. This is because you must have a strong credit score to buy in today’s market and a strong credit score comes from healthy spending habits and low debt ratio.

Credit used to be something different than it is today. Some reports show that the volume of consumer loans more than doubled in from 1990 to 2000. Changes in credit were happening long before this decade, though. People used to buy only what they had the cash to use. Times have changed. Read more

108 Branch Hill Under Contract!

108 Branch Hill Lane
Columbia, SC 29223

(Map)

Listing Price: $249,900 $244,900
Square Footage: 2,596
Bedrooms: 4
Bathrooms: 2.5

108 Branch Hill Lane is Under Contract! If you have a house you want to sell, please contact us! We would love to explain to you the strategies we implement to sell real estate. Or, if you are looking to buy a house, we would love to help you find the house that meets your needs!

« Previous Page — Next Page »