Charleston, SC Posts

Do you have trouble keeping up with all your social networks?  Iit's hard to keep track of them and update each one....facebook, twitter, blogger, linked in, plaxo...JUST TO NAME A FEW.  It can be a full time job in and of itself.  Well, check out http://ping.fm.   It's a free service to make all your social networks easy to update.  You log in to ping.fm and make your update and it will ping it to all your other social networks for you.  Check it out! You'll start pinging more often! You can follow me around Charleston at www.twitter.com/chasREexpert.

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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.

Check out How's Your Real Estate Hangover blog if you forgot what the party was like and why you have a  hangover.

You finally decide to face the music and wake up to face the ugly real estate hangover.  You have a splitting headache, dry mouth, and would really just prefer to stay in bed.  You drink gallons of water and take several aspirin and the headache is not going away. You want to scream, but you're afraid your head will split in half, so silently you scream, When is this hangover going to end?!   It's hard on everyone that came to the party. The banks lent too much money. Buyers bought too much house or got ARM financing that is about to reset. Those now sellers that bought at the peak feel like they are underwater and can't compete with the increasing inventory and builders trying to unload product. 

There really isn't an easy answer.  Hangovers last longer for some people as we all know.  Everyone is different just like every market is different.  But as one of our company leaders noted, a look closer at the many different factors, will reveal that we can say it's not over. Some think that we are just around the corner, but a reality check says otherwise.  Now, please note that I am not a pessimist. In fact, I'm probably guiltier of being too optimistic, but in times like these, it's time to be a realist.  I hope that the end is closer, but it's time to prepare for the worst.  It could be more like 12-18 months before we see a turn around.  First, the brunt of bank foreclosures may not have come to fruition yet.  It's a long legal process and it may be another 6-9 months before the mass inventory of foreclosures is really seen. This will put more inventory on the market at discount prices.  Second, there will be many more ARM resets in the months ahead for those buyers that bought at the peak of 2005 that could further lead to more inventory on the market as homeowners decide to get out of the loan by selling.  Third, a phenomenon we have never seen before is happening.  The walk away mentality.  Homeowners in fight or flight mode are walking away from their home and loan obligations without remorse.  I don't think we can pinpoint a time in history where this phenomenon occurred so much. 

Let's face it. The hangover is due to a HUGE IMBALANCE in our market today and in the past few years as building got out of control.  The imbalance is due not only in home values and home inventory, but also in lending practices and guidelines.  The pendulum has swung from one end and now to the other.  We need a healthy balance in order to return to equilibrium.  I think this is in the works.  As an agent, I do not create the market, but my job is to help buyers and seller respond to it.  With proper pricing (which may below the last sale and eat into part of your equity), excellent condition (meaning we may have to make some improvements) and the greatest marketing exposure possible (I'll handle this part for you), we can see the closing table.  The Charleston Relocation Expert has served over 150 families since 2004.  So far in 2008, I have assisted 35 families achieve their real estate goals. Allow me to be of service to you.

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Contact Michele Reneau, Realtor®, CRS, GRI, ABR, Carolina One Real Estate. Licensed Realtor® in South Carolina at 843-572-0518 to list your property for sale or to purchase a property 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.  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.

P.S. If you are listing your home and need a quick sale in Charleston or surrounding area, make sure you hire an agent with the knowledge of the market and stats and the experience to get the job done.  I'll provide you with "Questions you should ask ANY agent before hiring" and share my my 100+ point marketing system.  Call me at 843-572-0518 to find out more selling your home in the Charleston SC Real Estate market. You can also view my newsletter by clicking here with the latest market stats updated on the 5th of each month.

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It's the party of the year.  Music, food, beer, wine, liquor, whatever you want.  It's open bar and you and your friends are invited.  You show up and everyone is having a fantastic time including yourself.  People are dancing, the food is fabulous, and the spirits have everyone in good spirits.  Welcome to the real estate market 2004-2006.  The real estate market was fantastic. Everyone was having a good time, sellers, buyers and agents alike.  Sellers got everything they wanted and more.  Buyers that couldn't have gotten financing before now have achieved the American Dream with 4.75% interest rate. Agents were selling houses like crazy.  Brokerages were popping up everywhere.  Everyone joined in the party. In fact, too many people.  It's getting late in the night. You look around and wish some of these people would go home.  You know who I'm talking about.  At some point, the party ends but you don't remember when. When you wake up and come downstairs, there are people lying on the couch, sleeping on the floor, bottles are everyone, food is still laying out on the table.   The house is a wreck.  If you haven't been to one of these parties, you've at least seen one on TV.  It's 2007 and no one wants to wake up and face the inevitable..the hangover.  Welcome to 2008, the year of the hangover.  The party was great, almost too good and now it's time to face the consequences of party.  We enjoyed extremely high appreciation, easy sales and quick turnovers. Hangovers are never fun for anyone, the person having it or the person cleaning it up. Sometimes you can sleep it off or take some aspirin or maybe even the hair of the dog, but for others there's just nothing you can do to cure it. It takes time to recover.  The real estate hangover is no different, it's going to take time.

How are you medicating your real estate hangover? Stay tuned for the next post on "When the hangover is going to end?"  This is one way to look at the market.  One of our company leaders gave this great analogy today in our company sales meeting and I had to share it.

It's a painful process for those that have to sell, but there are solutions.  For those that can purchase, the time has never been better.  Visit www.CharlestonRelocationExperts.com for your Charleston SC real estate hangover bandaids.

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Contact Michele Reneau, Realtor®, CRS, GRI, ABR, Carolina One Real Estate. Licensed Realtor® in South Carolina at 843-572-0518 to list your property for sale or to purchase a property 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.  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.

P.S. If you are listing your home and need a quick sale in Charleston or surrounding area, make sure you hire an agent with the knowledge of the market and stats and the experience to get the job done.  I'll provide you with "Questions you should ask ANY agent before hiring" and share my my 100+ point marketing system.  Call me at 843-572-0518 to find out more selling your home in the Charleston SC Real Estate market. You can also view my newsletter by clicking here with the latest market stats updated on the 5th of each month.

There is a growing movement of environmentally conscious and well-informed consumers who are thinking about their finances, managing their money and making choices for their future in a new way. They are making choices based on whether or not products and services are earth-friendly, ethically-produced and made, recyclable and energy-efficient. There are so many "Green" products and services on the market today.  It can be tough to figure out where you are going to get the most "Green" payback for your "Green" money.

Carolina Eco Unit evaluated our 3 year old house in July. The first electric bill was hard to gauge on the savings since I wasn't sure when the bill cycle was, plus my AC unit was broken for part of the month and we had a window unit.  Well the results are in!  Despite the rise in temperature outdoors in July and August, my August bill was $37 less than last year's bill during August (20% reduction) and my September bill was $88 less than last September's bill (35% reduction).  At that rate, the services will pay for themselves in about 7 months and I'll continue to reap the savings benefits for as long as I live in the house and be able to pass it on to the next owner.  What you like to save 35% on your electric bill? What are you doing to join the Green movement? 

We have been so impressed with the savings and the immediate difference it made in our lifestyle we are sharing a Free Evalution coupon with our valued clients and friends.  To make an appointment with Eco Unit, go to www.CharlestonRelocationExperts.com and visit the "Time and $$$ saving tips" button and there will be link to set up your appointment online.  This is a $199 value offered only to our valued clients! Just tell them that Michele Reneau referred you.   In addition, I have added a "Going Green" section to our "Links" page with lots of information and resources for an environmentally-friendly lifestyle. Carolina Eco Unit has several office's in the Carolina's including Charlotte, Raleigh, Columbia and Charleston.