Charleston, SC Posts

On 11/26/08, the SC Business Journal published this article.  It's no secret in Charleston, but many do not realize that real estate is local.  While numbers have dropped a little in Charleston, it has not followed extreme drops in many other markets. The statistics came from the US Federal Housing Finance Agency based on sales and refinancing information available on existing single family homes. "The Charleston-North Charleston-Summerville metro area came in at number 65 with 1.27% appreciation over the last year."  Not only has SC weathered the storm well, but specifically Charleston, SC has endured the housing crisis well.  Values have dropped slightly when you consider where prices were in 2005. Inventory peaked in 2007 at 16,000 active listings and it currently sits at 10,800 in the Tri-County area. 

Subscribe to Charleston SC Posts by Email

Michele Reneau - Military Relocation Specialist with Carolina One Real Estate in Charleston, SC.

Contact Michele Reneau, Realtor®, North Charleston, SC Relocation Expert, CRS, GRI, ABR. Licensed Realtor® in South Carolina at 843-572-0518 to list your property for sale or to purchase real estate in Charleston, Goose Creek, Summerville, North Charleston, Hanahan, Mount Pleasant and the surrounding areas in Charleston County, Berkeley County or Dorchester County, South Carolina. The Charleston Relocation Expert specializes in military relocation, first time homebuyers and creating marketing exposure to sell your home in the Charleston SC Real Estate market.  I can also be contacted by email at mreneau@carolinaone.com. To view all Charleston Metro area Homes for Sale Click Here and then click on Search for Homes.  With over 25 years of Lowcountry Living, I know the Charleston Metro area. I will help you get your home sold and/or help you buy your Charleston home or land.

This is a continuation of a series: 10 Common Myths Shared by Homebuyers.* See Myth #6  here. 

There has been so much media attention on the rise of foreclosures and the hype of getting a good deal.  It's hard not to ignore it and of course everyone wants to get a fantastic deal.  But the fact is that some foreclosures are overpriced and also have undesirable conditions attached to them.  On a foreclosure, what you see is what you get. The bank will not make any repairs.  One important thing to do is to evaluate the cost of repairs to make sure that it will not exceed fair market value of the property.  Otherwise, you could have bought the house down the street for less money.  Often there is not electricity or water available, and it is the buyer responsibility to turn it on to inspect the home.  And again, even if you do find something severely wrong, the bank will not fix it. The sale is AS-IS.  A good value in a foreclosure requires research and due diligence.  You'll need a good home inspector and contractor on hand to work up the repairs and numbers. 

When working with the Charleston Relocation Experts Team, Buyer representation is a FREE service and we'll have you navigate the process to make it a smooth ride! Call or email Michele Reneau when you ready to have an agent looking out for YOU!

Stay tuned for more myths...*The series is adapted from the REBAC article published October 2008, 10 Common Myths Shared by First-Time Homebuyers in Today's Buyer's Rep.

Subscribe to Charleston SC Posts by Email

t's official! Finally, the Dorchester County Council voted and approved a new comprehensive plan which will direct building and infrastructure needs in the county over the next 20 years.  This plan has been much needed for quite some time and (in my opinion) a little late for the fastest growing County in the state.  Dorchester County residents know first hand how the explosive build up in the area has affected roads, traffic and schools.  Parts of the cities of Summerville, North Charleston and Ladson are located in Dorchester County SC.  Looking forward, this should be a positive move to manage future growth.

View the comprehensive plan at http://www.dorchestercounty.net/

This is a continuation of a series: 10 Common Myths Shared by Homebuyers.* See Myth #5 here.

Not true! There are many issues that need to be negotiated beyond price.  There are many things to negotiate, some of which may include closing date, items to convey, contingency timeframes and closing costs.  Then there's other miscellaneous stuff that is situational like a home for sale contingency.  Additionally, there are many steps involved in purchasing a home beyond the contract.  Home inspection and appraisal are two big ones but there are plenty others that have to happen behind the scene. A realtor can help you make sure you don't miss any of these steps in addition to preparing you to be ready for them by making sure you understand the process and help you get a loan pre-approval.

When working with the Charleston Relocation Experts Team, Buyer representation is a FREE service and we'll have you navigate the process to make it a smooth ride! Call or email Michele Reneau when you ready to have an agent looking out for YOU!

Stay tuned for more myths...*The series is adapted from the REBAC article published October 2008, 10 Common Myths Shared by First-Time Homebuyers in Today's Buyer's Rep.

Subscribe to Charleston SC Posts by Email

Contact Michele Reneau, Realtor®, North Charleston, SC Relocation Expert, Military Relocation Specialist, CRS, GRI, ABR. Licensed Realtor® in South Carolina at 843-572-0518 to list your property for sale or to purchase real estate in Charleston, Goose Creek, Summerville, North Charleston, Hanahan, Mount Pleasant and the surrounding areas in Charleston County, Berkeley County or Dorchester County, South Carolina. The Charleston Relocation Expert specializes in military relocation, first time homebuyers and creating marketing exposure to sell your home in the Charleston SC Real Estate market.  I can also be contacted by email at mreneau@carolinaone.com. To view all Charleston Metro area Homes for Sale Click Here and then click on Search for Homes.  With over 25 years of Lowcountry Living, I know the Charleston Metro area.

The verdict is in!  Local real estate company owner, Richard Davis, sued A&E for $7.5 million over a contract to split profits from the TV pilot show, Flip this House.  During the 1st season, Davis was created as the creator but never received payment from the wildly popular show.  This week the jury awarded Davis $4 million in damages for breach of an oral contract. 

You can imagine that Davis and his legal team are happy with the verdict.  His attorney admitted, "...It's very tough to prove you had an oral contract with a major network." A&E sure is disappointed and I imagine an appeal will be filed. 

What's the moral of this story? GET IT IN WRITING!!!!

This is a continuation of a series: 10 Common Myths Shared by Homebuyers*. See Myth #4 here.

Buyers can mistakenly rationalize they should have several agents working for them. Working with more than one agent will create confusion for buyer and agents alike.  Agents have access to the same Multiple Listing Service. A consultation with a professional realtor will allow an agent to concentrate on your needs and wants. While interviewing agents, sharing your priorities in your home search will help the agent in helping you find properties that meet your criteria.  Select one agent to represent your interests so you can get develop a mutual relationship based on trust, communication and loyalty.

When working with the Charleston Relocation Experts Team, Buyer representation is a FREE service! Call or email Michele Reneau when you ready to have an agent looking out for YOU!

Stay tuned for more myths...*The series is adapted from the REBAC article published October 2008, 10 Common Myths Shared by First-Time Homebuyers in Today's Buyer's Rep.

Subscribe to Charleston SC Posts by Email

Michele Reneau - Military Relocation Specialist with Carolina One Real Estate in Charleston, SC.

Contact Michele Reneau, Realtor®, North Charleston, SC Relocation Expert, CRS, GRI, ABR. Licensed Realtor® in South Carolina at 843-572-0518 to list your property for sale or to purchase real estate. The Charleston Relocation Expert specializes in military relocation, first time homebuyers and creating marketing exposure to sell your home in the Charleston SC Real Estate market.  I can also be contacted by email at mreneau@carolinaone.com. To view all Charleston Metro area Homes for Sale Click Here and then click on Search for Homes.  With over 25 years of Lowcountry Living, I know the Charleston Metro area.

This is a continuation of a series: 10 Common Myths Shared by Homebuyers. See Myth #1 here.

I hate to break the bad news, but there's no such thing as a perfect home. Buying a home ALWAYS requires compromising.  When looking at property, there are many things that a buyer might notice that they do not like: wallpaper, paint colors that don't match your décor, dated light fixtures that don't go with your style, the ugly bush outside that needs help and plenty of others.  It easy to rule out houses that might require too much work. Once you set a budget, the two major things a buyer should focus on (outside of habitability) is location and floorplan. These two things cannot be changed easily or without huge expense.  Everything else can be changed.

 I've owned 3 houses that I have lived in, 2 preowned homes and 1 new construction.  All the houses, including the new one required my own personal touch. 

My first house was built in 1945 and it needed a lot of updating.  At the age of 24, the fact that I even was a homeowner was pretty dreamy. Right away, I ripped down the wallpaper, repainted every room and pulled out the blue carpet to refinish the gorgeous hardwood floors.  I wasn't able to do everything at one time, but over 2.5 years, I made several improvements including replacing a roof, installing new windows, painting the exterior and installing new floors in the kitchen and baths.  Looking back, it was a lot of work, but I have no regrets. I still own this home and it is now a rental.   

The new construction house was probably the worst of the three.  We ripped out perfectly good carpet to put in hardwood floors. We removed new laminate countertops to replace it with granite.  (Don't worry, we didn't waste either and donated both to good causes.) We had to put ceiling fans in all the bedrooms and living room.  I had to pay an electrician to run wiring to install a ceiling fan in my office.  We had build a fence to contain our 2 dogs.  We spent a pretty penny on upgrading our landscaping from the builder blah.  Don't forget painting all those walls because I can't stand builder white. 

The point is that no matter what house you buy, there will be pros and cons and things that you will want to do.  Many things can be done over time.  Consider trying to keep an open mind.  The perfect house will come at a premium price tag.  Accept a home that needs some updating and get a reduced price.  You can manage the changes over time and reap the benefits of your improvements when it's your time to sell.

The process is complicated but it doesn't have to be. You can make sure you get as close to perfect as possible with the right real estate professional at your side.  The only thing you will get with waiting is frustration.  By the time you find the perfect home, someone else may be bidding on it too.

When working with the Charleston Relocation Experts Team, Buyer representation is a FREE service! Call or email Michele Reneau when you ready to have an agent looking out for YOU!

Stay tuned for more myths...

*The series is adapted from the REBAC article published October 2008, 10 Common Myths Shared by First-Time Homebuyers in Today's Buyer's Rep.

 Subscribe to Charleston SC Posts by Email

Michele Reneau - Military Relocation Specialist with Carolina One Real Estate in Charleston, SC.

This is a continuation of a series: 10 Common Myths Shared by Homebuyers. See Myth #1 here.

Most properties can be found online. The Internet is a great resource for buyers and of course you can drive through neighborhoods you like or look through the paper and home magazines.  BUT there are many properties that are NOT advertised and/or DO NOT have signs.  Many foreclosures in our market do not have signs. I have no idea why, but they don't!  And believe it or not, some sellers request for signs not to be placed in their yard and some neighborhoods do not allow signs. Also, not all agents advertise the best properties in newspapers or magazines because they sell so quickly or they choose not to use those methods.

The MLS updates at midnight which means it can lag real time updates in hot neighborhoods and even worse, hot markets.  A professional real estate agent is networked with other realtors to find out what is coming on the market before it gets there.  Additionally, an agent dedicated to working on your  will check the HOT SHEET for you during the day to see if there is anything coming on the market to get you the edge on property information so you can hear about it before it goes out at midnight on MLS.  That's why it is important to know that your agent is a full time agent that can work on your behalf.  You want an experienced agent that is networked and keeping tabs on what's coming up and going on in the areas you are interested in so you don't miss any HOT properties.

When working with the Charleston Relocation Experts Team, Buyer representation is a FREE service! Call or email Michele Reneau when you ready to have an agent looking out for YOU!

Stay tuned for more myths...

*The series is adapted from the REBAC article published October 2008, 10 Common Myths Shared by First-Time Homebuyers in Today's Buyer's Rep.

Subscribe to Charleston SC Posts by Email

Michele Reneau - Military Relocation Specialist with Carolina One Real Estate in Charleston, SC.

Contact Michele Reneau, Realtor®, North Charleston, SC Relocation Expert, CRS, GRI, ABR. Licensed Realtor® in South Carolina at 843-572-0518 to list your property for sale or to purchase real estate in Charleston, Goose Creek, Summerville, North Charleston, Hanahan, Mount Pleasant and the surrounding areas in Charleston County, Berkeley County or Dorchester County, South Carolina. The Charleston Relocation Expert specializes in military relocation, first time homebuyers and creating marketing exposure to sell your home in the Charleston SC Real Estate market.  I can also be contacted by email at mreneau@carolinaone.com. To view all Charleston Metro area Homes for Sale Click Here and then click on Search for Homes.  With over 25 years of Lowcountry Living, I know the Charleston Metro area.

This is a continuation of a series: 10 Common Myths Shared by Homebuyers. See Myth #1 here.

Many buyers start their search by looking online and occasionally getting in the car driving around to check out neighborhoods.  Due to SC agency and representation laws, the listing agent is charged with protecting the interests of the seller. When you call the listing agent, they are obligated to tell the seller ANYTHING you say.  You have the right to be treated with the same protection but it does require you to hire a Buyer's Agent. To find out how to hire a Buyer's Agent and why you need one, check out my previous post: What services are you entitled to when you hire a Buyer's Agent.

When looking for a buyer's agent, you should be looking for full time agent that can devote time to diligently searing for your prospective home.  They should have demonstrated experience, negotiating skills, and intimate knowledge of the market you are seeking to purchase a home in. Preview my previous post about the Top 10 questions you should ask before hiring your next agent.  Many of these questions apply to buyers agents as well!  The strongest position in a negotiation is to have a mediator, a buyer's agent!  An experienced agent will know what to say and not to say and will keep the necessary information confidential while helping you get the best price and terms on the house you want.

When working with the Charleston Relocation Experts Team, Buyer representation is a FREE service! Call or email Michele Reneau when you ready to have an agent looking out for YOU!

Stay tuned for more myths to come...

*The series is adapted from the REBAC article published October 2008, 10 Common Myths Shared by First-Time Homebuyers in Today's Buyer's Rep.

Subscribe to Charleston SC Posts by Email

Michele Reneau - Military Relocation Specialist with Carolina One Real Estate in Charleston, SC.

Contact Michele Reneau, Realtor®, North Charleston, SC Relocation Expert, CRS, GRI, ABR. Licensed Realtor® in South Carolina at 843-572-0518 to list your property for sale or to purchase real estate in Charleston, Goose Creek, Summerville, North Charleston, Hanahan, Mount Pleasant and the surrounding areas in Charleston County, Berkeley County or Dorchester County, South Carolina. The Charleston Relocation Expert specializes in military relocation, first time homebuyers and creating marketing exposure to sell your home in the Charleston SC Real Estate market.  I can also be contacted by email at mreneau@carolinaone.com. To view all Charleston Metro area Homes for Sale Click Here and then click on Search for Homes.  With over 25 years of Lowcountry Living, I know the Charleston Metro area.