Charleston SC Metro Real Estate: March 2009

Everyone knows that the real estate market is taking hit nationwide.  This makes it a great time to buy a home.  There are a lot of good deals still left to be had in the real estate market.  This is also the time for sellers to adjust their expectations from that of even a six months ago. 

Below is a Homes Sold Report for Crowfield Plantation.  Crowfield is located in Goose Creek SC and is one of the more popular neighborhoods in the Charleston SC metro area.  The graph shows the dramatic decrease in sales from just one year ago at this time.  Consequently sellers are either dropping their prices or in many cases taking their home off the market.  You can also see that most of the homes that are selling are priced under $200,000.  High end homes are not moving right now.  With all of this in mind we are anticipating higher sale numbers during spring 2009. 

If you are interested in buying or selling a home in Crowfield Plantation or anywhere in the Charleston metro and would like more information, please feel free to contact me:

Michael Johnson

michaeljohnson@carolinaone.com

843-817-5299

Crowfield Plantation in Goose Creek SC

Crowfield Plantation - The Hamlets

Goose Creek SC Real Estate Appreciation Rates

Goose Creek SC Grocery Stores

For More information about Crowfield Plantation, Goose Creek SC, are real estate in Charleston SC, feel free to contact me:

www.providingthelight.com

"What do I do first?"  This is the question most often asked of me in real estate, both verbally and non-verbally.  If a buyer does not come right out and say it for reasons of ego and pride, their body language of discomfort screams the question at me.  With a wink and a smile my answers is always this "You've already taken the first step....you've found a good Realtor to guide you though the process."  

The second step is to determine your "Purchasing Power" by contacting a reliable and reputable lender.  Several factors come into play when determining your purchasing power.  These include your credit score, your debt to income ratio, and current interest rates.  Your interest rate will have a lot to do with your credit score. 

If you have a really good credit score and your debt to income ratio is not to high you can get a really good interest rate at around 5% or possibly lower.  For the last 3 or 4 months interest rates have been a record lows.  This means you may be able to afford a better and/or bigger house than what your would have a year ago or even 6 months ago when interest rates fluctuated in the 6% range (which is historically still a good rate compared to the early 80's which had 18-20 percent interest on homes). 

The graph below demonstrates this concept and may be utilized to understand how to make interest rates work for you when buying a home.

(Graph provided by Doug Holmes)

If you are in the Charleston SC area and are interested in buying a home, give me a call. I'll sit down with you and explain the step by step process of buying and how I can help you most home for the least amount of money.  Best of all, my services are at no cost to you.

Michael Johnson

843-817-5299

www.providingthelight.com

www.metrocharlestonhomes.com

Recent Blogs

1.  Goose Creek Real Estate

2.  Liberty Hall Plantation

3.  The Ponds - Summerville, SC

4.  Tanner Plantation Top 10 Homes For Sale

5.  Crowfield Plantation Top 10 Homes For Sale

Summerville South Carolina is a beautiful city located on the outer edge of the Charleston Metropolitan.  It is the choice of many "Charlestonians" as the place to call home.  Summerville is known for its beautiful homes in the downtown area, its Flowertown Festival, and for its ever popular Dorchester II school district.  The real estate market in Summerville is still relatively good, but as the information demonstrates below the area has taken a hit from the homes sale numbers of a year or two ago.  Expect much of the same for at least the remainder of the year.  Predictions are that the Charleston market will begin to see a turn around by the end of this year or early next year. 

The wonderful thing about Summerville and the entire Charleston area is that people still want to live here.  Our economy will rebound and Charleston and its neighboring towns such as Summerville will be on the cutting edge of the recovery.  The time for investment is now.  Don't be one of the people who wish they would have bought during this time five to ten years from now.  Inventory is high and prices are low.

Michael J. Johnson

843-817-5299

Search Charleston Area Homes

www.providingthelight.com

www.metrocharlestonhomes.com

Like most of the country, Goose Creek SC, a suburb of Charleston, is feeling the sting of the recession, in particularly in real estate.  That's the bad news!  The good news is that the bad news is not as bad as it sounds.  People are still buying and selling real estate but it is just not in the exorbitant amount that we saw a few years ago.  The market has adjusted itself! It is a definite buyers market.  Buyers should be careful not to get overwhelmed while looking at all the homes available. 

Sellers on the other hand must adjust their expectations, hire the right Realtor to advise them through the process, and make sure the condition of the home and the price is competitive.  Do not simply rely on a Comparable Market Analysis (CMA) in this market or your home may be sitting for a while.  Contact me for a free consultation.

The graphs below demonstrate how the market has shifted from last year to this year.  The graph is broken up by price point.

Note that the homes that buyers are buying is primarily priced below $200,000.  Many of these are first time home buyers taking advantage of the great deals that are on the market.  Homes in Goose Creek that are over 200K are sitting on the market longer and in many cases are not sold at all. 

Today I did something that I hadn't done in about 8 years (when I got out of the Air Force).  I went to the dentist for a cleaning.  I know, I know, I need to go more often.  Part of the reason I waited so long was the lack of dental insurance and the other part is that I just never made it a priority.  It's one of those "there's no pain so I ain't worried about it" things.  I've also done some home cleanings with over the counter products.

After being "encouraged" by my wife for quite some time, I decided to make an appointment and go.  Of course the first thing you do when you go to a new doctor of any sort is to fill out all of their paperwork.  Most of it was pretty standard information, but when I got to the last page, a paragraph rubbed me the wrong way.  Now, unlike most people I read most of what I sign and if there is something with which I do not agree, I am not inclined to take the path of least resistance. This would be no exception.

The paragraph in dispute stated that in the event that I failed to show up at an appointment or if I canceled the appointment on the same day, a no show fee would be charged to me.  WHAT????  You think so highly of yourself and your business that you feel you can charge someone for doing nothing.  I don't think so...at least not with me. 

So, I calmly walked up to the front counter and said "I filled out the information that you need except for the last page."  The dentist said "Well I need this signed before we can do anything."  I said "we have a few choices in this matter.  A) I can line though the last paragraph on the page about charging me for you doing nothing, B) I can simply not sign the paperwork and you can clean my teeth, or C) I can walk out and we just won't do the cleaning."  She said "the reason we do this is so people will take the appointment seriously because if you don't show up then I've lost the opportunity of getting another person in your time slot and consequently loose money. 

I told her that I understood her situation but as a business owner that is the calculated risk that one takes.  As a Realtor, I have people "no-show" and cancel all the time, but I don't have the right to charge them money for a service that they never received.  We went back and forth for a minute and finally she agreed to line out the paragraph about the no-show fee.  We both initialed it and I signed the form to consent to the other information. I got the cleaning and a clean bill of health.  

The moral of the story is two-fold.  First, never sign something unless you read it.  You never know what you will get yourself into.  Second, never allow a person or a business to persuade you that you owe them money when no service has been performed.  Remember you are the customer!  Many businesses will push the envelope to see what they can get away with and unfortunately most people are unwilling to stand in opposition to a poor business practice. 

Michael J. Johnson

www.providingthelight.com

www.metrocharlestonhomes.com

The following is a"Sales and Inventory Report for Liberty Hall Plantation year to date.  Liberty Hall Plantation is a relatively new neighborhood in Goose Creek SC.  The graph below shows that there have only been 10 homes sold this year in the neighborhood with a current inventory of 38 homes.  Last year at this time the neighborhood had sold 48 homes.

Homes sales are slow which means that if you are a buyer, it is the time to buy because people are wheeling and dealing trying to get their home sold. Contact me and we can schedule some time to see homes in Liberty Hall or anywhere else in the Charleston metro.

If you are a seller and you must sell, the time to price you home right is now.  Contact me and I can show you how we can help you get your home sold.  I'll provide you with an aggressive marketing plan as well as current information that will show you what we must do to get your home sold within your desired time frame.

Note:  DOM = Days on Market

Michael J. Johnson

817-5299

www.providingthelight.com

www.metrocharlestonhomes.com

"Middle age is when your broad mind and narrow waist beging to change places."

- E Joseph Cossman

"Few men have virture to withstand the highest bidder."

- George Washington

"All great change in America begins at the dinner table."

- Ronald Reagan