Marianne Hatton's Blog

Rebuttal to Post

Marianne Hatton (Re/Max & Hatton Realty Inc.) — Fri, 23 Jan 2009 11:21:40 -0800

Recently I received this comment to an old blog entry and I wanted the chance to respond:

You real estate agents all have no clue as to why the housing market in Columbia,SC is not falling as fast as the national average, do you. Its one word: MILITARY! But be aware that that is about to change... Because of the slick talking mortgage brokers & the sales tactics you real estate agents have (any lemon lot car salesman would be proud of), our military families have been strapped to homes they can't get rid of. Note that all incoming families have been advised not to buy when stationed in the Columbia area. If it were not for the military presence in Cola, the whole city would be in deeper economic turmoil. Columbia would not have the luxury of over pricing its housing market. Builders & sellers have over estimated the "gullibility" of the buyers and it will catch up to these crooks. A lot of these builders think way too much of their houses anyway. We have one of the largest training bases in the nation, the largest portal for EVERY sector of our armed forces. And its only getting larger. Due to the economic forecast ,some of the "settling committee" have been persuading all incoming military NOT to buy. Its 2009 people. Its not going to get better for some time to come. So sit down, strap yourselves in & shut up!!! Its going to be a long, bumpy ride for all you brokers & agents!!! BTW:Its safer to rent in these times and knowing how fast personal can transition, its better not to be tied down to property.

01/18/2009 09:49 PM

by BNelson

Rebuttal to the comment above:

Columbia has ALWAYS appreciated the economic stability and investment the military has contributed. However, when you compare us to other parts of the country (plenty of stats to back this up), we did NOT over-inflate our prices. Builders built according to the demands of supply and need. The folks at Fort Jackson told us ahead of time that they were bringing in 1000 new families over the past 3 years, at about 1000 a year. These were THEIR stats. They needed housing. Builders do not build to rent houses, and the housing need was great, until now.

Its true that it is hard to sell a house in Columbia now. But I hope one would realize that a huge part of this problem is the fact that others wishing to relocate here cannot buy because THEY have a house to sell in a very bad market, such as Colorado or California, or North of us. It is not just the military affected. It is everywhere. However, I still believe that the BEST housing and the BEST place to raise a family is in a stable neighborhood...not an apartment complex. I also know for a fact that real estate is a much more stable investment than the stock market. Thru the years, real estate has made a lot of people wealthy. And I am talking about the big boys, not mortgage lenders and agents. Donald Trump sure knows the value of real estate investments...so does the Bush family. The Kennedys too and anyone else with a lot of money.

In my early years I was a single parent of two young children with no father around, I realized that one day they would need to go to college and I would need some retirement. Being self-employed (as all agents are), I could not count on government benefits or 401Ks. I put my money in real estate. It has served me well over the last 22 years, and I am worth much more today than I ever thought. Furthermore, I have not LOST any money in my investments. Can't say that for the stock market.

So I think everyone agrees on the state of the economy. We also agree that things are going to get a lot worse for awhile. I am VERY concerned about us printing all this money,which is driving down the value of the dollar every minute. I am VERY concerned that we will be paying with Euro's soon, and the dollar will be a thing of the past.

The housing market is the bone structure of our economy. We as Realtors are doing everything we can to help people sell and buy. We had a press conference at the State House last Wed. to urge lawmakers to get rid of the 6% tax to investment and rental property as well as the "point of sale" appraisal method, which is further hindering the residential and commercial market here in South Carolina. We lobby for things like this.

When Clinton was president, there was a bill introduced to do away with interest right-offs in housing. We Realtors sucessfully lobbyed against it. This would have DEVASTED our economy, and when they looked at it, they realized this was true.

So I am very sorry for those of you who do not value my profession or that hold us accountable for our housing troubles. Regardless of how one feels, Realtors are good for our economy and Columbia appreciates Fort Jackson.

Marianne Hatton

www.ISellThisTown.com

Housing for Fort Jackson

Marianne Hatton (Re/Max & Hatton Realty Inc.) — Fri, 02 Jan 2009 13:36:05 -0800

• This home is within 10 minutes to the Fort! • Excellent Blythewood Schools! (Richland 1) • Easy Access to Columbia's Newest Shopping Mecca • Neighborhood Amenities Including Pool, Pond & Tennis Courts! • Large Lots create feeling of space • NO Backyard Neighbors! These homeowners are so desperate to sell that they are only asking what they paid for it 3 years ago brand new! Since then they have done extensive landscaping on the 1/2 acres lot, built a fabulous shed with concrete floor & electricity! And the house is gorgeous and Move-In Condition! These house has 3295 sqft and is offered for $369,900! Interest in More Housing? Contact for Special Relocation Package!

ECONOMIC CRISES IS GOOD NEWS FOR FORT JACKSON!!

Marianne Hatton (Re/Max & Hatton Realty Inc.) — Wed, 31 Dec 2008 10:21:09 -0800

In the past few years many soldiers have been glad to receive a discharge and enter the civilian world. But with the economy lagging and unemployment increasing, these soldiers are re-upping in record numbers.

According to an article published in The State Newspaper, Fort Jackson exceeded its goal for retaining troops by 43%. WOW! And not only do they get a guaranteed job, but 70% of the re-enlisting troops got bonuses ranging from $3000- $29000. Now that's some serious money!

In Columbia, SC, where Fort Jackson is located, the housing affordability factor is also a WOW. The average priced home is around $168,000 and an average BAH ranges from $900-$1500 depending on your rank and family status. So most troops can afford to live off base and take advantage of the great schools Columbia has to offer. Furthermore, real estate is not taking the beating in the capital city of South Carolina that other parts of the country are experiencing. While there has been no appreciation in housing this past year and a half, we have not seen prices plummet.

Columbia also has a very competitive mortgage industry - with heavy emphasis on FHA and VA loans. Because of competition, some of the most attractive rates and terms can be found here. With good credit and a loan amount of $120,000 or greater, one can expect a fixed interest rate of somewhere in the neighborhood of 5.25%.

Money talks, but the command at Fort Jackson realizes that the CARE FACTOR is still a major catalyst for retaining troops. Sgt. Major Jones, chief of the Fort Jackson retention office states that these men and women who re-up will definitely deploy again. He understands that it is equally important to be concerned for them and their families. The soldiers must feel that their families are taken care of when they are in harm's way. This seems to be another part of the reason they are willing to stay.

All of these factors have played well for the retention office at Fort Jackson. The good schools and affordable housing along with great job stability has caused business to be good!!

For additional relocation information regarding Columbia,SC please call Marianne Hatton at 803-454-2906 or email to Hattonm1@aol.com Check me out at www.isellthistown.com for all Columbia listings.

RELOCATING TO FORT JACKSON?

Marianne Hatton (Re/Max & Hatton Realty Inc.) — Mon, 01 Dec 2008 13:14:56 -0800

The opportunities are so great here in Columbia, SC!! We have VERY good schools, a warm and friendly city, and beautiful subdivisions with plenty of shopping! We are a family-oriented city, and value the standard traditions of family and faith. All of these ingredients combine to make for a wonderful place to live!

If you are being deployed here, you will surely want to capitalize on the opportunities offered in affordable housing! Our average priced home in Columbia is around $165,000. Our home values tend to hold pretty well, even when the rest of the country has seen as much as 18% loss in some areas. HOWEVER, THE DEALS ARE STILL HERE!

The homes on the market this time of year are truly the ones with MOTIVATED SELLERS! The "we don't have to move" sellers generally take theirs off the market during the holiday season. There are lots of incentives being offered to buyers such as making a few payments for them on the front end, paying all closing costs and pre-paid items, or absorbing the first year home owner association fees. And for most of these, the pricing is extremely competitive. One example of a fabulous home at below market pricing is www.200Roundtree.com

There are also still some GREAT loan programs available in our area! We have a significant amount of FHA and VA automatic lenders who know how to structure the application to get it approved - even if there are a couple of issues with the candidate.

I have resources and information to all of these aspects of the real estate market. Feel free to contact me thru my website at www.isellthistown.com. I look forward to proving that Columbia, SC really is a great place to live!

HITTING THE BOTTOM IN THE REAL ESTATE MARKET

Marianne Hatton (Re/Max & Hatton Realty Inc.) — Thu, 13 Nov 2008 10:56:43 -0800

When do you know if things have bottomed-out in real estate in Columbia?? Many buyers are "on hold" because they are waiting for prices to drop more, sellers to become more desperate, and the deal of the century to be in their face.

I think what they are really waiting for is for the ever-present and all-knowing news media to proclaim, "It's over! Prices will not drop any lower!! Things are starting to move forward!!" Well, the funny thing about this is that THEY don't know this until it has already hit bottom and the turn has been made. And once they make this proclamation, the buyers who want the best deal have missed that window.

It reminds me of a similar situation that took place about 4 or 5 years ago. The stock market was starting to show signs of vulnerability. Then one day Katie Couric, of the Today Show states that real estate is a good investment. She gets all these talking heads to give their opinion as to why one should look at real estate for investment opportunities. And there you have it! NOW real estate is a good investment.

Let me tell you that real estate is and always has been a GREAT investment. It is far more stable than the stock market...especially in Columbia, SC. As most people know, we did not experience the bidding wars, the inflated values, the 20% appreciation overnight that other areas of the country did. We are OK here. We have not lost significant property values anywhere, and in most places of Columbia and its surrounding cities, the properties have held the value they had 1 ½ years ago.

The November edition of SMART Magazine ranks Columbia as one of the first 25 cities to see a turn around in the housing market. Of that 25, we are ranked #7!!

Instead of riding out the stock market woes, consider buying at least one rental property to have in your portfolio. Renters are plenty and the tax write-off is wonderful. It's a great way to make your own finances a little more "economy proof".

So are you going to let the best time to invest in real estate pass you by?? Interest rates are still low (around 6%). The supply is huge - lots to choose from. And we are coming in to the holiday season where the market is historically soft to begin with.

Call me to discuss the possibilities! Now is the time!!

LET’S GET THE FACTS STRAGHT

Marianne Hatton (Re/Max & Hatton Realty Inc.) — Wed, 14 May 2008 08:54:07 -0700

THE COLUMBIA HOUSING MARKET IS DIFFERENT: but since when is different bad? I have had so many sellers and would-be sellers lament about the market being slow and housing prices going down. NOT SO in the Columbia, SC market!!! First of all, in the past two years, we did not inflate our pricing like other areas of the country. We did not have massive "bidding wars" on houses. Yes. We did have somewhat of a seller's market in the 2005 housing boom, and even in to 2006 and early 2007. The sellers that had a really sharp property, and an attractive price, were very likely to have more than one buyer. Thus, they got very close to their asking price, if not THE asking price.

Builders were especially spoiled during this time. They were in a position of luxury where they could afford to say, "If you don't pay the price, then someone else will." They had to work extra hard to keep inventory available, and the only reason they did not sell more was because they could not build them fast enough.

SO WHAT ABOUT NOW??? Builders have had a reality check. In the Columbia area, builders are having to negotiate their asking price. They are offering incentives to attract more buyers, and inventory is decent. Homeowners have to be kinder to buyers once they express interest in their home. They need to bend a little more, and be careful to sweeten the pot. And the average time on the market is a little longer in many cases. But there are some distinct positives to this situation for both buyers and sellers.

FOR THE SELLERS - The fact that builders are no longer in control of the market has made a desirable impact on the resale market. Buyers are looking closer at the perks of a previously owned home. This is affecting our move-up market in a very positive manner. Furthermore, development overall has slowed...so re-sales have less competition than before. And the same adage holds true: If you have a sharp property with an attractive price, you may still get multiple buyers, which gets you a better price and terms.

FOR THE BUYERS - Don't need to state the obvious here. Buyers have more control over what they choose, and greater inventory to choose from than in the past 5 years in both new and resale housing. Interest rates are still attractive, and there are some very fine income driven and credit driven loan programs for those that qualify.

ALL IN ALL, the REAL truth about our local market is that it is DIFFERENT. But the situation is a much better norm than in the past. It is a more reasonable market. And sellers and buyers need to focus on the local statistics rather than the national reports. These are the straight facts in Columbia, SC!!

For additional information or personal inquiries go to www.isellthistown.com

America Needs LEADERSHIP! (Not one of us!)

Marianne Hatton (Re/Max & Hatton Realty Inc.) — Wed, 16 Apr 2008 15:25:56 -0700

It seems to me that all the presidential candidates want to be portrayed as "one of us", an "average working class" person. I know WHY they do that. They are going after the low-income, uninformed portion of American voters. Sadly, this includes the bulk of our young adults (uninformed) who do not read newspapers and think of change as always a componant of good.

The President of the United States of America does not need to be "one of us". The President needs to be someone who has greatly excelled in all walks of life, learned how to manuver against the greatest of obstacles, overcomes adversity, and can LEAD the people.

America is in dire straights right now for a LEADER. Point in case is Ronald Reagan. Reagan did not campaign on the platform of change. He never proclaimed to be an average American. But he did campaign that he would LEAD this country and its people to bring about needed changes THRU THE PEOPLE and their greatest strengths. He effected economic change by making sure that the middle class was less-burdened with government, and he effected foreign policy by taking a stand for what is right and what is noble. He was a leader.

It saddens me that the masses of people cry change, when they are really seeking someone who can show them a better way to live. Someone who can encourage them and put the policies in place that will aid individuals to be the best they can be.

I, like many Americans, do not see a leader in this Presidential race. And I dread to see how we fare as a country in the next 4 years. I am afraid that at the end of another 4 years, we will still be seeking someone who can lead.

Getting off to a Great Start!

Marianne Hatton (Re/Max & Hatton Realty Inc.) — Thu, 30 Aug 2007 14:18:24 -0700

Many of the clients I work with are relocating to the Columbia, SC area. Relocating is always a challenge- I myself know what it's like to be brand new to Columbia, this is why I offer my potential clients something that I wish had been done for me when I first moved to the area! I bring them along on what I like to call a "Cook's Tour" of Columbia.

Columbia, despite being a smaller city- does have a very large spread. Different areas- like Chapin, West Columbia, or Blythewood have very different things to offer. This tour gives the customer a great chance to get to see all the different areas that Columbia has to offer! By the time we really start shopping for houses- now they are more familiar with the areas around Columbia and will know when I say that a house is in the Irmo area- what the looks like and what is nearby

I find this is a great way to start of my relationship with the clients also. It's a chance to really talk to them and learn more about what they like and what they really want to stay away from.

I love living in Columbia, SC! I find it's an easy city to sell!

The Real Estate Market

Marianne Hatton (Re/Max & Hatton Realty Inc.) — Mon, 30 Jul 2007 14:18:22 -0700

I am pretty fed up with the way the national media is portraying the current housing market situation. Headlines such as "Housing Market Plummets" and "Home Sale Prices Down" are not relatively true.

One must realize is that the past 5 years of real estate in this country has been very profitable and advantageous. During this time, many areas INFLATED their home pricing. Buyers were able to get easy loan terms, and many buyers who otherwise would not be eligible for a loan, took advantage of the low interest rates. Many purchasers had questionable credit, and were still able to get 100% financing.

The housing market is experiencing the same rule of economy that the stock market does. When pricing is inflated, and people play the industry hard and fast, then there HAS to be a correction period. This is the situation that created the housing bubble. And the bubble has burst.

Some places see it worse than others. But I challenge you to look and see that these areas are also the parts of the country that saw the greatest "appreciation" (even though it may have been a false and temporary one)...such as Colorado, California, Virginia, etc.

Unfortunately, in our ever moving housing market (no pun intended), one part of the country affects another. If the guy in California cannot sell his house, then it prohibits him from buying another one in South Carolina. If the family in Denver is moving to Boston, they usually need to find a buyer in Denver first. That is why the overall market is suffering somewhat.

In many places, the pricing is not greatly affected, but the actual time it takes to get the buyer is about twice as long. This is because there are certain "pockets" in the LOCAL market that is considered move-up. Since it is taking longer to get a buyer for the lower-end markets, (mortgage banking rules have tightened up tremendously. Credit scores less than 600 almost prohibit one from being able to buy.) it is causing a serious shortage of buyers in some of the more up-scale neighborhoods.

None of what I have said here offers great insight to a new truth. But I just wish to clarify that the perception of housing prices falling is relative. If they had not been driven to ridiculous heights in the first place by a wealthy supply of buyers, willful and careless real estate agents and appraisers, rampant investors wishing to make a fast buck, and lax banking rules; then we would not have to be paying the piper now. Its just a simply economic rule, "What goes up really really fast, must come to a point of correction.