SOLD! Bull Street Property Finally Under Contract…

An Upstate developer has signed a contract to buy the 165-acre state mental hospital campus on Bull Street in one of the most anticipated and significant land deals in city history. Read more

2723 Monroe Street SOLD

2723 Monroe Street

Columbia, SC 29205

Listing Price: $209,900
Square Footage: 1,400
Bedrooms: 3
Bathrooms: 1 Read more

Sellers: Don’t Let Emotions Rule

It can be easy for the selling experience to become clouded by emotion. A homeowner may have years of memories stored within the walls of a home. They look at a room, and instead of resale potential, they see a baby’s first steps and early Christmas mornings. When the time comes to sell, however, the time has also come to sever emotional ties with a house.

Emotions can cloud your reasoning. And they can misguide you during a very expensive and important business transaction. Sellers sometimes overvalue their homes, adding in sentimental value on top of property value. They refuse offers that, while reasonable, don’t add up to the value of their memories. Or they turn down a potential buyer, because they don’t garden and won’t “leave the rose bushes,” or aren’t the “type” of person they’d like living in their home. Read more

South Carolina Buyers, Don’t Forget About the Property Tax…

(This article appeared in The State newspaper on Sunday, October 24, 2010. To see the original article, please click here.)

S.C.’s Unhappy Homeowners

A growing number of them are complaining that prices have fallen but assessments that determine property tax levels have not

By KRISTY EPPLEY RUPON, – The State

Thomas Stanek got a great deal on a foreclosure in Blythewood last year: He paid $419,000 for a 4,000-square-foot, five-bedroom home that sold for $749,000 just three years earlier.

Normally, property tax values are set at the latest home-sale price — that’s how it worked as real estate values soared just a few years ago.

But instead of getting a tax break, Stanek got sticker shock.

His latest Richland County tax bill valued the home at $710,000 — 41 percent more than the sales price. That difference forced him to pay $2,000 more in taxes than if the home was valued at his purchase price. Read more

Tip for Sellers – Considering a Short Sale? What to Keep In Mind as You Begin the Process…

The following article is by Jim Wasserman
The article can be found here

RISMEDIA, September 23, 2010—(MCT)—Bill Joyce starts every short sale journey with “The Speech.” In a what’s-ahead warning to home buyers, the Roseville real estate broker promises prospective buyers that they will be tested and tortured. They will endure privations beyond all expectations. And then they might fail.

“All the things you normally expect are suspended,” Joyce says of changes sweeping across the distressed housing market. “There’s a new set of rules that apply here.”

That’s because short sales are back—and bigger even than during the troubled 1990s. Read more

House of the Week – 2723 Monroe Street

2723 Monroe Street

Columbia, SC 29205

Listing Price: $209,900
Square Footage: 1,400
Bedrooms: 3
Bathrooms: 1 Read more

Tip For (First Time) Buyers – First Time Buyer ABC’s

When you’re a first time buyer, you’ve got lots of questions. There are so many things you don’t anticipate. Carla Hill, over at Realty Times, provides a great article on ‘First Time Buyer ABC’s’.

Pre-approved for a mortgage is a great first thing to do. That pre-approval helps you know how much you can spend, and it can also speed up the closing. Lastly, if gives you the edge in the case that the home receives multiple offers, and the other offers are from those not pre-approved.

How much money do you want to put down? Suze Orman, the financial expert, recommends in this market to put down 20%.

Expect to pay for an appraisal, title services, title insurance, transfer taxes, inspections, loan origination, private mortgage insurance, and homeowners insurance…to name a few. If you haven’t already caught on, the buyer pays most closing costs. But of course, you can (and should try t0) negotiate closing costs with the seller (this is especially true in a “buyers market”).

Lastly, it is wise to work with a local real estate agent. They will have a wealth of knowledge about the area you are interested in.

To read the whole article, please visit this link.

Home Tips: Fall Home Fixes

With cooler weather finally (almost) back upon, fall is a wonderful time of a year. And according to Carla Hill, over at Realty News, it’s a time homeowners should do some maintenance around their home.

1. Before your nonflowering bushes head into a dormant stage, go ahead and give them one more trim.
2. Do you want some colors in the front of your house during the fall? Chrysanthemums are a great way to do that!
3. Take advantage of the nice weather to get stuff done outside. Put away the gardening tools, pool supplies, and summer toys.
4. Another way to add warmth and make your home inviting are the addition of seasonal mats and wreaths.
5. Storm Windows. If your home doesn’t have these, then now is the time to install them. These do a wonderful job of keeping heat in on a cold day…and keeping your energy bills DOWN!
6. Don’t forget about the gutters. With leaves falling, now those gutters will get clogged really easily, so be sure to clean them out.
7. If you have a chimney, go ahead and get it cleaned out before you start putting it to a ton of use.
8. After having to sit dormant for several months, your heater may need some tuning up, so go ahead and get it checked out before you start putting it back to use.
9. Now is a good time to drain your hot water heater and remove any sediment from the bottom. This will improve your unit’s efficiency.

You can read the entire article at the Realty News website here.

Tips For Sellers – Preparing to Sell

There are many things to consider when preparing to sell your home, and the more prepared you are for the journey, the easier it will be. Here are some basics to consider:

• Presentation Is Everything

You’d be amazed at the difference “cosmetic” improvements can make in how buyers react to your home. Therefore, you may want to spend some time sprucing up your home with paint and landscaping, as well as taking care of necessary repairs you may have been avoiding. This not only will help you get the very best price, but may help you get an offer sooner.

• Make Arrangements For Pet Care

If your house is also home to a cat or dog, that can be noted in your listing so that real estate agents act with due caution. You may want to close your pets off in a separate room or fenced area outside, or request advance notice when your house is to be shown.

• The Value Of Placing A Lock Box On Your Home

A lock box is a key storage system placed on an entrance to your home that is accessible only by active, licensed real estate agents. With today’s technology, most lock boxes allow us to know which sales agent showed your house and when. A lock box allows sales agents to show your home when you’re not there, without having to go to the listing sales agent’s office to obtain (and later return) the key. By making it more convenient for real estate agents to show your home, it will be viewed by a greater number of buyers.

Tip For Buyers – Considering New Construction?

Thinking of building a custom home or looking at new home communities? You may think you don’t need a Realtor and that a middleman might drive up the costs. You may be thinking you know exactly what you want in a new home and how to go about getting it. But there’s so much to consider and a Realtor can assist you along the way.

A knowledgeable Realtor can help you with location and lot selection, choosing a builder, solving design challenges, developing the contract and selecting financing. And you may not realize this, but there is no extra charge for the Realtor’s expertise. Builders usually have a marketing fee built into the home price so that their neighborhood homes are equally priced and so that they have Realtor support and the repeat business they bring. In fact, you may actually be paying a hidden fee for the services of a Realtor, but not receiving all the benefits of Realtor involvement.

Location, Location, Location

We know the region’s housing locations better than anyone as a result of spending hours comparing neighborhoods and homes. Our expertise will assist you in selecting areas that best suit your needs and wants.

You can build the most wonderful home in the world, but if it’s in the wrong location, you may not be able to enjoy it or see full appreciation value in its. We can best ascertain how a home will fit into a particular neighborhood considering factors such as price, design and how the home will be situated on the chosen lot.

Don’t Make Design Mistakes

Even though we are not decorators or designers, we are aware of what is popular in the current marketplace. With our guidance, you may prevent a design error that would cost you future appreciation and end in resale problems.

We spends so much time viewing homes, new and resale, and can offer valid recommendations about which floor plans are best suited to your specific needs or lifestyles. We could also take you to view some existing homes with similar floor plans so you can visualize how the home would look upon completion.

Choosing A Builder

One of the most important benefits of consulting a Realtor in this process is to make sure you select the right builder for your needs and then help to monitor and select the subcontractors that the builder uses. It is imperative to know the reputation of the builder and the satisfaction of past clients.

While a builder deserves to make a fair profit, there may be a need to obtain a second price. If that need arises, we can assist you in comparing apples to apples and specific details of the home. Details and Contract Assistance: Having a Realtor involved during plan speculation and pricing will ensure that the proposed home will be priced competitively . The builder will price the home and its components knowing that your Realtor, understands fair cost. The presence will also help prevent miscommunication and disagreements with the builder. We can help ensure that proper plans are drawn, comprehensive specs are presented and written change orders, after the contract, are signed. Stipulation against mechanics leans and proper attorney representation will prevent legal hassles or disappointments that may occur if proper precautions are not taken.

Financing

We can help you obtain the proper construction financing. If during construction, a new construction financing product becomes available, that change can be made because we deal with financing on a daily basis and know what is currently available. One of the major efforts we can coordinate is the sale of your current home, if one exists, while the new home is being completed. It is very beneficial to have us early in the process put together a marketing plan that will help sell your home and prevent you from having to move twice. To those who have not done it before, building a new home seems easy. Experienced new homebuyers know the importance of involving a Realtor. If you are considering building a home in the future or buying into a new home community, be careful. Be smart and use a Realtor.

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