Did somebody tick off that groundhog? Spring has definitely been delayed here in Charleston. Temperatures have been hovering in the mid 50’s during the day. Some relief is in sight, low 70’s by the weekend. That will feel good on these old bones.
The housing market in Charleston, SC has turned in favor of the Sellers. Prices are increasing rapidly. Many sales are experiencing multiple offers. Bank owned repossessions and short sales are selling closer to fair market value. Deals on good quality homes are in short supply.
The listing season this spring will see an initial rush of homes on the market getting top dollar from the pent up buyers who have been waiting for more homes to come on the market. These buyers are well qualified and more than likely have experienced the disappointment of being outbid on earlier deals.
Once the initial feeding frenzy dies down, sellers and buyers should start to even out causing many late listing sellers to lower prices in an attempt to compete for the choosier buyers.
What to do?
Sellers: Consider listing earlier in the season to be part of the buyer frenzy. It could be the difference between having a bidding war now or a price reduction conversation later in the season. Call or email me for an updated value estimate on your home.
Buyers: Rates are still low, get qualified now. Know your financial picture today. Transfer any gift monies from family now to avoid questions later from the mortgage people. Avoid using your credit lines and save a few extra dollars for closing expenses. Begin looking at styles of homes, neighborhoods, schools etc… Know what you want before the hunt , it makes the decision process easier. If you’re looking at new homes, call me before you go in and give them your name, please. The sales people on the lots work for the builder’s and their first priority is to make the builder money…Be wary .
It is gearing up to be a whirlwind season. Every neighborhood is a bit different. If you have any questions or would like a market analysis for your home please, contact me. Phone, text, email, smoke signals…whatever works you.
I appreciate all your referrals, both in town and around the country. 80% of my business comes from satisfied clients, friends and business partners. I love you all for it. If there is ever anything I can do for you, please let me know. If you're in town give me a call, I'd be happy to buy you lunch.
God bless you and your families. Have a safe, happy spring.
As always, If you don't know me, don't want to know me, have no use for real estate agents, will never have a question about real estate or just plain don't like me....please unsubscribe. Neither of us should have to endure the other. For the rest who are still here, I want to be your real estate agent for life, always there to guide you through the home buying/selling process..