As soon as the sun comes out, activity in the Real Estate business tends to pick up. Between now and the end of April, we are going to see a significant up tick in the amount of activity going on in our local market place. Now there are two reasons for that and it’s the big push. Is the Home buyer tax credit, whether your a 1st time home buyer or an existing home buyer, a lot of people are now starting to say, “Wow, the clock is really ticking on this”. There’s a lot of movement in congress that this may be the last of this home buyer tax credit. They probably are not going to extend it. They are going to take the money and use it in other places to help spur economic development and job creation. Of course, we (Realtors) believe that can be done in the housing industry especially if we have new starts. So we’ll see where that goes closer to the end of April.

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We knew it wouldn’t be long because when you attract somebody like Boeing to the state of South Carolina and 4000 direct jobs there would definitely have to be a big ripple in the pond of economic development that’s gonna be felt statewide.

Marion county announced that they are bringing a plane repair company that is going to bring 300 brand new jobs. Why is that important? Well, Marion county has been losing jobs for a LONG time. It’s kind of one of the black eyes in that area of South Carolina. “The best thing coming and going out of Marion is the road to the beach”, is the way I’ve heard it put a lot of times. Now there are going to be 300 high quality jobs brought into that area. Now, the other reason that’s important is that Marion is about an hour and a half away from where the Boeing plant is gonna be and York County is about 2 hours away. So, there are opportunities for bringing these ancillary businesses in. We are actively seeking those businesses and hopefully we are going to have some announcements in York County in the next 12 to 24 months that will be tied to that also!

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Sellers don’t always disclose the whole truth and nothing but the truth to home-buyers. Since it’s out of the question to have a home inspector with you at every showing, you can do your own “inspection” to identify potential problems.

1. More than a few homes for sale in the neighborhood? When checking out the curb appeal for a property, check out the surrounding areas appeal. Talk to neighbors, etc

2. Home needs maintenance? Sign that the owner’s weren’t big on keeping up with the maintenance and could be many underlying problems.

3. Foundation not quite right? Check out yard grading. It could be causing problems under the home.

4. Smells funny? If you smell lots of potpourri or air fresheners. Here’s your sign.

5. Lights don’t work? Could be faulty or old wiring.

6. Fresh paint on one wall? Could be a cover up for a problem.

7. Room “Off Limits”? Hmmmm…

8. Foggy or stuck windows? Seals could be comprimised.

9. Floor plan changed from original? If they removed a structural wall without adjusting the framing, it can shift.

10. Bugs! Look for signs.

Important note: Skipping a home inspection is not a good way to cut home-buying costs.

Frontdoor.com

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Selling a property in this tough market can seem like a challenge. Here are four factors that actually make this a good time to post a For-Sale sign.
• Sell low and buy low. Because all property values are down, the loss on the property a home owner sells is really only a paper loss because the next property he buys also will be a bargain. If he buys smartly, when prices come back up in a few years, he’ll be in better shape.
• Down-payment help is widely available. While nothing-down loans have disappeared, it is easy to find down-payment assistance for lower-income and first-time home buyers. Programs vary all over the country, but one good way to find them is to search online for “down-payment assistance programs” and the name of your region.
• Your uncle has money to share. Besides the $8,000 first-time home buyer tax credit and the $6,500 move-up credit, there are an array of energy tax credits that can make home improvements pay off in cash.
• Good help is available. Really talented real estate practitioners, contractors, and designers are available and eager for business.
Source: McClatchy Tribune, Kate Forgach (02/07/2010)

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We have some news to celebrate. Rock Hill’s Christmasville won the event of the year for the 3rd year in a row. It was top of the list for all events held in the state of SC! The website for Christmasville also won an award for top website about an event!!! Go ROCK HILL!

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Days on the market were up in 2009 over 2008 for our area. Statewide they were up 6.9%. In our Piedmont Regional, they were up 14.1%. We’ve gone from 135 days on the market average to 154 days on the market average. Now remember those million dollar houses that have been on the market for a year or two can skew those numbers.

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Click link to view video: 5 Tips to sell your home fast

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The view in January: November and December housing numbers all looked very good. Inventories are declining which is interesting because that’s going to have an impact on the price of homes.

Basically right now is the optimal time if your going to buy a house. If your a 1st time home buyer, you still have the tax credit. Free $8,000. If your an existing home buyer and have lived in your house 5 in the last 8 consecutive years. Free $6,500. Secondly, interest rates are starting to stabilize and maybe even starting to see a tick up in the interest rate numbers. That happened last week, I believe we are going to continue to see it through this coming week and maybe through the month of January based on what I’m hearing through the lenders. Now that’s all signs that the economy is improving. It’s going to start to impact the availability of money and where we go. If your trying to second guess and maybe get a better scenario, I don’t recommend it.

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1. Hanging on the fence for the market to improve or not buying at all. No one can see the future or where the market is going, so waiting for the BEST time to buy is pointless. If you’re financially ready to be a homeowner, it’s always a good time to buy for one reason or another.
2. Making an offer without a contingency. A “way out” is a smart move for home buying. If the home as an unfix-able problem, the appraisal comes in under the contract price, or you are denied financing, a contingency gives you the right to cancel the contract to purchase.
3. Not doing your homework. If you didn’t read the fine print or have your Realtor review all your paperwork with you, you may be in for an unexpected surprise at closing. Request a copy of the most crucial documents ahead of time and review them with your Realtor or Closing Attorney.
4. Not getting a home inspection. Even if you love everything about the home and you “see” nothing wrong. It’s a big mistake to presume that it’s trouble free. All homes have shortcomings, even new construction, so getting a professional inspection is key.
5. Falling in love with the first house. If you don’t preview several houses, you could miss out on a good deal or regret your purchase down the road.
6. Buying more than your budget can handle. A lender can tell you that you can afford a certain amount. But do they really know your other financial responsibilities. Only you do. As a rule of thumb, your mortgage payment should be less than 28% of your gross monthly income.
7. Buying an investment property or renovation project before looking into the costs. Don’t be fooled by the “deal” and remember that repairs can be an aggravation and expensive.
8. Not exploring the neighborhood. It may be your dream home but not your dream neighborhood. It should be a good fit for your way of life such as work commute, amenities, school districts, etc. A nice neighborhood will increase your home’s value, while a not so nice one will bring it down.
9. Not thinking long-term. It should feel like home to you and your family. Never forget that this is a large investment, it pays to think of resale in the future.
10. Not getting pre-approved by a lender. Know what price range you should be looking in. Not only does this let you know how much house you can afford, it lets sellers know that you’re serious and qualified.

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