Goose Creek Real Estate and Homes Sold Statistics
August of 2009 saw a major drop in the number of homes sold in Goose Creek from that of the previous 5 months. In fact the numbers resembled that of early 2009. What does this mean? It means everyone that was jumping the gun and thinking that we may be seeing a shift in the market need not overreact. Although August is traditionally a slower month because of kids going back to school, everyone needs to understand that we are still in a recession, and that home sales and prices will not rebound over night and may take upwards of 5 to ten years to get back to where we were in 05 and 06. If you are going to sell you home, it must be competitive in both pricing and condition. If you need assistance, give me a call or send me an email. I'd be glad to help.
The Stats
Here is a graph to give you a good picture of how the market has been doing this year.
Real Estate in Charleston SC
The metropolitan of Charleston SC is primarily made up of three counties: Charleston County, Berkeley County, and Dorchester County. All come together to form a cohesive mass of down home, fun-loving, beach-going, and just plain friendly population of people.
Most from other parts of the country that move to Charleston testify that they love the beaches and the history of the area, but most of all new-comers seem to like the slower paced life they find here. Like most real estate markets throughout the country, the Charleston market has slowed a bit in the last year or so, but overall our market is still doing well. Here are some statistics of the Charleston metropolitan real estate market in 2009:
For buyers, this is fantastic news as this means there is more inventory (shown in the green) to choose from. But, don't depending on your price range these numbers may look a little different. For example, the most popular price range for those buying homes right now is everything under $200,000. In nearly every month this year more than half of the homes sold have been under $200K. This means that there is often more competition from other buyers for homes under $200K
For sellers, the inventory greatly outweighs the number of homes sold. This means that at best this year you had about an 8% chance of selling your home once on the market in Charleston (from first graph). The numbers do get a little better when you narrow the stats down to city and/or neighborhood. But, the message is still very clear - you must have your home in the right condition and have it priced right if you want to get the house sold. Then, your home must be marketed to the masses. The best way to do that is to hire the right Realtor with the proper skill, integrity, and marketing plan to get the job done with you.
Recent Blogs
Click here for Part I of the Series
Click here for Part II of the Series
Charleston Real Estate Attorney: Preferred Vendors From Contract to Closing: The Series, Part III
One of the most important aspects of the real estate process is the closing. The closing is the day when the buyer and seller come together to sign paperwork and transfer the property from one party to the other. Most of the time the buyer signs the majority of the paperwork, especially if outside financing is involved.
Choosing An Attonry - In South Carolina, there are two major rules that all should be aware of with regards to the closing. 1) Buyers have a right to choose their own real estate closing attorney without outside interference from the seller. 2) All real estate transactions must have a SC licensed real estate attorney involved, and all monies that are being transferred from one party to another must do so via the attorney. The attorney then distributes the funds to the proper parties. 3) Unlike in some states, in South Carolina buyers take possession of the property at closing once all paperwork is signed. In addition, checks are distributed to the sellers as well as other parties involved in the transaction (i.e. Realtors) on the day of closing. The attorney then has the responsibility of recording the deed.
The Preferred Vendor - It is important that you the buyer select a knowledgeable and reputable attorney. An attorney's office who is will to go the extra mile to ensure that everything within their scope of responsibility is taken care of in a timely manner. In addition the attorney and the paralegals should be accessible by multiple forms of communication (i.e. phone, fax, email). For all of these reason I recommend what I consider the best real estate attorney team of in town - Weeks, Foti & Irvine Law Firm.
The team at Weeks, Foti & Irvine are spectacular at what they do. They are very knowledgeable and go above and beyond to answer legal questions, perform title searches, and anything else that needs to be done to get the buyer and seller to the closing table. I know of a few times when Mark Weeks has shown up after hours (late into the evening) because loan packages were running late and the deal had to close that day or not at all. This is a pretty big deal as most real estate attorney's I know close shop at 5pm and not a minute later. Jimmy Foti and Robert Irvine also do amazing work and at times work late into the night to ensure that all aspects of a successful closing are in order for the buyers and 
sellers.
In addtion, there is never any worry or concern once the closing transpires about recording the deed. The lawfirm makes routine trips to the proper county courthouses to ensure the deed is recorded and thus making the property legally transferred.
They have multiple locations throughout the Charleston Metro to include North Charleston (main office), West Ashley, Mt. Pleasant, Goose Creek, and Summerville.
It should be noted that I get no sort of kickbacks for this recommendation and it is against the law to do so.
Charleston Mortgage Lenders - Preferred Vendors from Contract to Closing: The Series, Part II
Click here for Part 1 of this series.
Click here for Part III of the Series
Worry Free - One of my biggest responsibilities toward my buyer clients is to facilitate the transaction in such as way that it is as worry free as possible. I do this by ensuring that the people on my team are the best at what they do. My team consists of mortgage lenders, appraisers, home stagers, inspectors, and closing attorneys. Although we are all independent from one another I consider them part of my team because they are my preferred vendors. My buyers get a list of people they can choose from in each area. They also have the option of hiring someone not on the list, but I can not say will any certainty that the worry meter will not go up when using someone else. The biggest part of buying a home is getting the money to do so.
One of the first steps to buying a home is to determine your buying power. Your buying power determines how much you can afford. To do this you either need to have a lot of money waiting in a bank, or you will need to consult a lender. Your decision then is to determine if you want to work with directly with a bank or with a mortgage broker.
Banks and Brokers - There are few differences between the banks and mortgage brokers, but the most important is that a mortgage broker does not work for the bank. He/She can can shop rates to get the best deal for you. If you choose to work with a bank, my advice is to work with a direct underwriter if at all possible. The underwriter cuts out the middleman and in most cases gives the final word of loan approval. A mortgage broker on the other hand acts as a loan processor and must get the final approval of the loan from someone else.
The list of lenders that I give to my buyers consists of both direct underwriters from a bank as well as a mortgage broker. It should be noted that I do not get any financial kickbacks for my recommendations and it is illegal to do so. The list includes:
Preferred Mortgage Lenders:
Paul Pace - a mortgage broker with The Access Group. Paul is an outstanding mortgage broker and an all around great guy. He goes out of his way to ensure to loan process runs smooth and efficient. Give him a call at 843-270-0282 or send him an email at ppace@knology.net
Dean Shuey - Senior Loan Officer with Carolina One Mortgage. Carolina One Mortgage is a division of Guaranty Bank, one of the oldest and most secure banks in the US. Dean is an underwriter who does great work. He is willing to go the extra mile help home buyers finance the home of their dreams. Dean's phone number is 843-574-3114. His email is dean.shuey@gbmail.com and his website where you can get pre-approved is www.lendingbydean.com
Nancy Hughes - Asst. Vice President Residential Lending with Carolina One Mortgage. Carolina One Mortgage is a division of Guaranty Bank, one of the oldest and most secure banks in the US. Nancy is an underwriter with Carolina One Mortgage who brings a wealth of experience to the table. Nancy does amazing work in conjunction with her assistant Sarah Henderson. Nancy's phone number is 843-572-0108. Her email is nancy.hughes@gbmail.com and you can also visit her website.
Michael J. Johnson
843-817-5299
Recent Blogs
Charleston SC is considered the friendliest city in America and also one of the World's top tourist destinations. People come from far and wide to experience the laid back lifestyle and the history of the great city and its people. But, what many people don't know is that Charleston is a city of firsts. Being one of the oldest cities in America, Charleston has been a pioneer in many great accomplishments. The list includes:
Michael J. Johnson, Realtor, ABR
michaeljohnson@carolinaone.com
843-817-5299
Recent Blogs
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It is my job to stay educated and informed so I can best serve you, my customers and clients. Let me help you through the confusing waters of real estate. "Providing the Light to Guide You Home!"
"We are what we repeatedly do. Excellence then is not an act but a habit"-Aristotle-
I spent 7.5 years in the U.S. Air Force before getting out in January 2001. I understand first hand the headache and excitement that a moving experience can be for anyone as I have done more than my fair share of relocating in the military. I go the extra mile to facilitate the home buying and selling experience for my clients so they can focus more on the move and less on the transaction. I am a Military Relocation Specialist!
I also recently graduated college (with honors) from the College of Charleston with a degree in History. My college experience taught me how to think critically in any given circumstance and how to research any given problem to determine a viable solution. This means that I am continually gathering information so as to better represent and advise my clients. My goal is to always be their Trusted Advisor in any Real Estate transaction.
If you are looking for a home for sale in Goose Creek, Summerville, Mt. Pleasant, or anywhere in the Charleston, SC metro., don't hesitate to call me or visit my website.
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