What I would suggest is a construction and/or renovation loan. Call Lorcan Lucey with Lucey Mortgage in Mt. Pleasant. He seems to have a great package right now. His office # is 843-884-8133. Good luck and let me know if you have any other questions. Have a great night and don't stay up too late watching the Olympics!! Joyce... more
In many areas it already has. The foreclosures that are left are mostkly due to moratoriums that delayed the enivitable for people 1 plus years behind on their mortgages. This inventory is called shadow inventory, we have seen inventories drop near 30% with an increase in sales near 18%. prices in some areas are actually going up. You should meet with a Realtor in your area tio get any specific market info for your area... more
Understand that the LISTING PRICE has one primary objective, to attract attention: It is not intended to be set in stone, and in many cases it is not even a good guideline toward the SELLING PRICE.
Some Sellers believe that by setting the LISTING PRICE high, they can always come down, and people will make an offer anyway: WRONG! Buyers will just bypass the property and look at houses that are within their price range. And six months from now, the Seller will slowly start lowering the PRICE, (this is called â€œchasing the curveâ€) and Buyers will be asking the question; â€œWhatâ€™s wrong with that house?â€ and â€œWhy has it been on the Market so long?â€
Other Sellers set the LISTING PRICE low, to attract multiple offers. (The correct strategy.) We are asked; â€œArenâ€™t you obligated to sell at this price if someone offers it?â€ The answer is probably not; for that to happen, you would first have to have only one offer, and secondly, the offer would have be exactly the same, down to the smallest detail, (please discuss this with your Realtor).
Another thought; Buyer will search for potential properties by groups; for example, $400,000 to $450,000, and $250,000 to $300,000. If your house is priced at $460,000 or $310,000, the Buyers will never see it. (something else to discuss with your Agent.)
Different Banks have different philosophies about pricing their properties: You cannot draw any conclusions without a good analysis.
Have your Realtor do a CMA, (Comparative Market Analysis) to help you determine your Offering Price. It is the surest way to determine the Market Value of the property.... more
West Oak Forest is a very convenient area of West Ashley. It would be my guess that 65-75% are owner occupied with the balance rentals. As well as block houses, there are lots of brick homes there.It is my feeling that this neighborhood is under-valued and increase in value as more people choose the West Ashley area. Right now, inventories are very low, as are interest rates so naturally this area will become more & more in demand. Houses just across the highway in Parkwood Estates average $200K-$250K, and those in Farmfield a little more. Those in Harrison Acres (back behind K-Mart & IHOP) bring prices between $250K-$400K.
For investment purposes, choosing a well-priced home in good condition in West Oak Forest would be a good choice.... more
Well what are you looking for? The facts are that this home closely follows guildelines and the house has to be habitable. Normally you could do some repairs. Why not look for a home that is in your price range that doesn't need a lot of work? I have some areas that have great townhomes available for this price. I could suggest some lenders. Just let me know.
If you get an equity loan later on, part of the proceeds will be needed to pay off your current equity loan. No one does a third mortgage anymore.
You may want to consider refinancing with a 203K which would pay for improvements.... more
If you are a member of a local credit union, try those first. Otherwise find a reputable bank and ask for their help. Their are lots of good programs out there. Why not use your current banker that you mentioned in your question?... more
Do you have an agent representing you? Did you seek out a buyer's agent to look out for your interests in this most important transaction?
Is the bathroom specifically in the contract? I am guessing (based on the hundreds of builder's contracts that I've written) that you will have a difficult time backing out of the contract. But you should have a solid ground to get the bathroom you expected.
Give me a call about this and I will go over several options you have to get the seller to behave or to back out legally.
sorry none of the agents ever got back too you but not many landlords rent out section 8 to my understanding. Rentals in Mt pleasant and West Ashley for 1000 not even exist. 1000 is more N Chas. Goose Creek Monks Corner or closer to West A Hollywood.
I would call the Section 8 dept and they should have a contact list. Also you can ask apt complex's if they take section 8. really wish I knew of any. lr... more
I have lived in Shadowmoss Plantation since we built our home there in 1984 and raised four children there. My three sons graduated from Middleton HS and my daughter from West Ashley HS. As a Realtor, due to federal Fair Housing laws, we are not able to comment on relative safety of areas, but you can call the Charleston County Sheriff's Dept. at 843-202-1700 and inquire about that. Regarding schools, here is a website where you can see the performance of schools in SC: http://ed.sc.gov/data/report-cards/ (copy & paste to your browser.) You can also go to http://www.greatschools.org/ to check on schools. If you are not currently working with another Realtor, I would be happy to work with you and you can call me at 843-225.3106.
Herb Uthlaut, Coldwell Banker United, Realtors.... more