A few years ago, my first client was a single mother with a young son who called me one Sunday afternoon while I was on floor duty about a property in Sunset Beach she had found in the newspaper. I met her at the property after I left the office and it was a fixer trailer(putting it kindly). We chatted for a few minutes and I suggested that she speak to a loan officer the next morning which she did. He called me very shortly after she left with a price range that she could afford. I ran a search only to find less than five properties that she could afford...her top price was $150,000. We made a couple of offers on properties that were going to require work but she was outbid and then we got lucky, a builder had a modest new site built home come back on the market well below her top price; although, it was not in the area she wanted to stay. I speak to her often and she is still happy with the purchase of a brand new home.
On the 4th, I had to run to the office for a client, and as I was locking the office door, a couple rushed up looking for their agent so they could see a property before they returned home. Of course, the agent was not available but I managed to reach him so they could view the property...they did write an offer on Monday. When I looked at the price on our board, it was less than $60,000 (a trailer). I started thinking what is the lowest priced stick built home available in Brunswick County. I ran a search. There are 8 homes available below $75,000...with the least expensive in the county being $62,000. They are small homes and nothing fancy but one or two are close to the beach and even closer to the waterway. It is still alot of money but for a person who just wants a vacation home at the beach, it is very affordable at this time. What a difference a few years have made! Today, she would have many properties from which to choose.
Update...price dropped today to 59,500 7/10/10
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