Charleston Real Estate Market Blog

The James Island SC real estate market is as strong as it’s been in the past, especially since there is not an excessive supply of homes and a continuing demand of buyers like there is in Mount Pleasant.

 

The benefit with this real estate market now is that many sellers don’t know the market is stronger in James Island compared to the rest of Charleston.  In other words, a lot of the sellers don’t know that they can get as much money for their houses.  So, sellers are still willing to negotiate their asking price drastically because of their misinformation.  It seems like we only hear about a cooling real estate market.  However, in many areas like Charleston, SC the real estate market is beginning to warm up again.   

 

When it comes to starter

2,815 Views, 0 Comments

Mount Pleasant is one of Charleston, SC’s hottest real estate markets because it has the best public schools in Charleston County and some of the nicest all-inclusive neighborhoods in the Charleston area.  The good school districts and the great home selection in Mt. Pleasant have created a high demand of buyers. 

 

This high demand has always yielded higher-than-average prices for the Charleston area.  However, in this new real estate market Mount Pleasant has become an even better value for home buyers.  In this past year, inventory (meaning homes for sale) in Mt. Pleasant has exceeded demand.  The demand is as strong as it’s ever been.  But, with the large number of sellers, buyers are able to negotiate tens of thousands of dollars off the asking

2,696 Views, 0 Comments

Many people sign a real estate contract and don’t even understand what terms they’re agreeing to.  We think it is important for you to have a basic understanding of this legally binding contract.  You don’t have to be an attorney or a real estate agent to appreciate the basic legal requirements of owning a home.  We’re going to explain the real estate contract using everyday language so that you can sign your contract with confidence!

 

1)  The contract must identify both of the parties involved in the real estate transaction – the buyer(s) and the seller(s).  Both parties have to be at least 18 years old and be mentally competent.

2)  Both parties must be in mutual agreement about the terms of the contract.  This is often called a “meeting of the

2,835 Views, 0 Comments

We get a lot of questions about HOAs.  HOA stands for Homeowners’ Association, and most neighborhoods in Charleston, SC have them.  The HOA is a non-profit group that manages a community.  Sometimes it is made up of residents from the neighborhood who work with a property manager (usually a professional, paid group who specializes in keeping up neighborhoods). 

 

Their work is paid for by all of the home owners in the neighborhood by HOA fees.  These fees range in price from about $150 to $8,000 per year.  HOA fees vary in price since they cover different things.  Some HOA fees simply cover grounds maintenance for all of the green spaces in the neighborhood.  If you live in a townhouse or condo, your HOA may cover insurance (although we usually

2,844 Views, 0 Comments

You may have heard this before:  “What are the three most important things to consider with real estate?”  The answer, of course, is location, location, and location.  So, everyone knows it’s important – but why?

 

Location is the single largest factor when determining property value, especially in Charleston, SC.  Location is the only thing you cannot change about a home.  You can take a not-so-impressive home and completely renovate it to the point that it is unrecognizable – new floors, new cabinets, and fresh paint.  However, the location remains the same.

 

So, let’s say that you already know your price range, but you’re not sure about where to live in Charleston.  If you want to buy a home with good resale value, be sure to look in highly

2,975 Views, 0 Comments

Many factors can affect your financing during the home buying process.  From the time you apply for a mortgage until the time of closing, you should not make any drastic changes to your financial status.  So, be sure to follow these 8 tips in order to keep your financing intact for your closing.

 

1)  Don’t co-sign a loan for someone else.

2)  Do not become self-employed, change jobs, or quit your job.

3)  Set aside your money for closing costs, and don’t touch it until closing!

4)  Be sure to make your credit card payments on time, and don’t use your cards excessively.

5)  I know it is tempting to buy furniture for your new house, but just wait until after the closing!

6)  Do not buy a new car (as one home loan officer joked, “You may be

3,077 Views, 0 Comments

We get a lot of questions about schools in Charleston, SC.  When clients tell us they want to be in a good public school district, we tell them to look for homes in Mt. Pleasant or Summerville because these two areas have the best public school systems in Charleston.  And, in Summerville, you specifically need to look for Dorchester District 2 (it is better than Dorchester District 4). 

 

When people find out they have two options for places to live in Charleston with good public schools, they usually want to narrow their search down even more.  So, the main differences between these two areas are price and location.  Mt. Pleasant is more expensive than Summerville, but most areas in Mt. Pleasant are about 10 minutes from the closest beaches and

2,777 Views, 0 Comments

Here is your chance to learn from other home buyers’ mistakes!  We’ve listed the five most common mistakes that a home buyer can make:

 

1)  Failing to plan for the future – Even if you think you will live in your new house for the rest of your life, you should still plan your exit strategy.  If, for some reason, you needed to sell your home, would you be able to?  And, if you could sell the home, would you make any profit from it?  Be sure to talk with your real estate agent about buying a home with resale value so that you can plan for any problems that may come up in the future.  He or she should be able to tell you what to look for (and you can read our blog “Finding a Home With Good Resale Value”).

 

2)  Not checking the Covenants and

2,237 Views, 0 Comments

People often ask us whether it is better to use the agent working at the model home.  While these agents are very familiar with the neighborhood and option packages, they work for the builder and have his/her best interests in mind.  They are hired to know the inventory and to represent the builder during all of the transactions.

 

You can still use these agents’ knowledge but have your own agent with you during the buying process.  And builders (and their agents) are always happy to work with the buyer’s agent.  We recommend having an agent to represent you and only you rather than rely on the builder’s representative.  Since the seller (in this case, the builder) pays commission to the buyer’s agent, you don’t have to pay to have an agent represent

3,186 Views, 0 Comments

Many people hear about buying homes in the pre-construction phase of development and having the home value skyrocket in the first few years.  The stories usually involve someone “getting in” during the early phases of development when the builders offer good incentives and competitive pricing.  These homes can be great investments, but deals like these are harder to find now than they were even five years ago.  So, talk to your real estate agent about pre-construction homes (and investing in the Charleston area in general) if this is something you are interested in.

 

A lot of our clients have opted to buy homes pre-construction in Charleston because they need time to sell their current home.  Building a new home in Charleston usually takes anywhere

3,483 Views, 0 Comments