New construction is a very appealing option to many buyers in today's market. It can be a little less expensive, especially in this market, to buy as apposed a re-sale. Why? Because many builders can afford to reduce their prices and still make a profit whereas home owners who bought their home 3-5 years ago may not have the equity to drop their price as needed.
BUT.........
....there are several things you need to consider and questions you need to ask before you sign on the dotted line.
Am I Comparing Apples to Apples - by this I mean, are you making a proper comparison with the re-sale and the new construction house. Don't be fooled by the new construction ad that is equivalent in square footage and to the re-sale home but has a much lower price. More often than not that is a base model home that will require much more financing to possibly get the house to what you would like it to be. i.e. granite counter tops, wood floors, crown molding, etc.
2. Are the Neighborhoods Comparable - with this I am not talking about who lives in the neighborhood but rather what does the neighborhood look like. Many times a builder will come though and wipe out most if not all of the trees and then start building spec. homes. Most people want at least a little vegetation around them and older established neighborhoods are the ones that often offer this. Also, what are the amenities offered? Parks, walking trails, tennis courts, and community pool are all things you may or may not find in new construction areas. Always ask the question, "What is my HOA dues paying for?"
4. Don't Eat up Your Equity Before You Move In! The trap many buyers fall into is the lure of the really low priced new construction home only to find that when all the upgrades are added into the home they have paid much more than they originally wanted to pay. Set a limit on the amount you plan to use for upgrades and stick to them. Also note that there are many things that you may find cheaper to purchase from an outside source. i.e., kitchen appliances. In addition ask to tour the design center before making a purchase. Many new construction companies will have no problem with you doing this. This will give you an idea of what to expect.
5. The New Construction Agent is Not on Your Side! The agent that works for the builder is usually a nice person and although they mean you no harm, they are not your buddy and they are not working for you. Their job is to lookout for the builder. If only there were a way for you to have representation and not have to pay for it...hmmm.....oh wait there is a way!
Find your friendly neighborhood Realtor and ask them to go with you to ensure you are properly represented, and in most cases it is at no cost to you. Most builders will gladly pay our service fees so that you are properly represented. Most have one catch - you must either mention that you have a Realtor at first meeting or bring your Realtor with you at first meeting. Don't be fooled by the widely propagated myth that you will get a better deal without a Realtor. The only thing you will get by not having a Realtor is a lot of headache and quite possibly a higher mortgage payment every month.
For more tips on buying a new construction home or a re-sale home, contact Michael Johnson with Carolina One Real Estate.
Michael Johnson
843-817-5299
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It begins! You open your eyes and you realize that you recognize nothing. With a dilation of the pupil you rise to your feet. "What in the world am I doing," you ask. Disoriented you wonder, "Why is this so confusing?" "What is going on?"
Much like the amazing television show, LOST, this is an all too familiar feeling for most buyers and sellers of real estate. For most people, this is the biggest purchase and/or sale of their lives to date. It can be quite an un-nerving. The biggest question of all for most people is, "Who do I trust?"
Your first step is to find the person who knows what they are doing. Someone who can "Shephard" you through the process and get you through the good and bad times. How do you know who that is? He/She is equipped to do the job and can hold things together in stressful situations. This person is the obvious leader and knows how to take charge of a situation. In real estate, finding the right Realtor can make or break you. Some important questions to ask are: 1) How motivated and innovative is he/she? 2) Do they know how to lead? 3. Is he/she knowledgeable? 3) Do they have your best interest at heart? While the buyer/seller will always control the decision making the Realtor should always have control of the real estate process and lead you in the right direction. 
You are also going to need someone who feels at one with the real estate industry inside and out, and who is not afraid to research and discover new things in the industry. Someone who is not afraid to get their hands dirty to get the job done. This person should have a strong connection with this housing jungle and when all is said and done, they should give you the knowledge to un-locke your dreams of buying a home, and/or guide you the treacherous adventure of selling a home in this daunting market.
What you don't want is to get involved with your local "con-man." The con-man cares about nothing but himself and thus does not have your best interest in mind or at heart. I see this most often with limited services companies. These companies will charge you a small service fee but could care less if you get your house sold and will not be there whenever you need help. It is the attitude of "every man for himself"
For more information about buying and selling homes in the Metro Charleston SC area, please contact me, Michael Johnson. I'm a teacher at heart and enjoy talking to people about real estate. My initial consultation is free and if you are a buyer my services are at no cost to you.
Michael J. Johnson
843-817-5299
michaeljohnson@carolinaone.com
That's right I said it! Realtors do not sell real estate! Owners of real estate sell real estate. By law one can not sell what one does not own. Sounds easy enough but many people have a unclear understanding of what Realtors do which leads to frustration.
So why in the world do you need a Realtor if they do not sell homes?
A Realtor's primary responsibility is to partner with a home owner/buyer and consult them on how to sell/buy real estate. This is why a commission is usually paid instead of a flat fee. Both parties have a stake in the outcome of the home sale. Here are a few roles that Realtor's play in the home selling process:
Trusted Adviser - like very few other professions you absolutely have to trust the person you choose as a consultant. For most people buying and selling a home is one of the biggest financial decisions they will make in their lives. A Realtor should be able to tell home owners what the condition of the home needs to be to get it sold as well as the market value of the house.
Marketing Expert - a good Realtor should have a general marketing plan that can be 
tailored to meet any given property that he/she may list for sale. Sticking an ad in the paper and a sign in the yard will simply not cut it in today's market. A good Realtor knows that he/she must have a on-line market presence to succeed in today's market.
Process Facilitator - the real estate process can be very confusing, tedious, and time consuming. It is the Realtor's job to maintain all paperwork involved in the transaction as well ensure that the timetable is set and followed for all aspects of the home selling process. If done correctly, the process should be as worry free as possible for the home owner and/or home buyer.
Negotiator - no I'm not talking about William Shatner. Only one in every twenty-one contracts goes though as originally written. Most often there is something that is changed and negotiated between the buyer and the seller. Knowing how to approach a negotiation and knowing how to protect the interest of the buyer and/or seller (depending on who is being represented) takes skill. This skill usually only comes with time and education.
These are just a few of the primary reasons why you need to use a Realtor to help you get your home sold or to buy a home. A Realtor is a consultant not a salesman. A salesman usually looks out for their own interest. A Realtor is required to look out for your interest once they've been hired to do so.
Michael J. Johnson
843-817-5299
michaeljohnson@carolinaone.com
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Foxbank Plantation is located off of Hwy 54 between Goose Creek and Moncks Corner South Carolina. The neighborhood has several builders to include KB Homes, Lennar, Sable Homes, David Weekley Homes, Palmetto Classic Homes, Truepenny Homes, and Southlund. The new home community offers a wide variety of home prices ranging from 150's to the 300's as well as a wide variety of home styles.
Below are the statistic for homes sold this year up to April 2009:
The average list price this year so far is around 192K while that average sold price is around 189K. The average days on market is 98 days and the current inventory of homes for sale in Foxbank Plantation is 33.
If you are interested in buying a home in Foxbank Plantation or anywhere else in the Charleston area real estate market, please give me a call. I will show you how I can help you get the most for your money and best of all, my services are at no cost to you. You have nothing to loose.
Michael J. Johnson, Realtor
843-817-5299
michaeljohnson@carolinaone.com
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Summerville SC is a suburb of Charleston SC and is located northwest of Charleston off of I-26. Summerville appeals to both families and businesses and is one of the fastest growing cities in the Lowcountry. Summerville has a fairly large population at a little over 48,000 people but still has a small town feel and attitude. The town was originally settled just after the revolutionary war by plantation owners but the town was not officially created until 1848. There has seen a huge population increase in the last 20-30 years due in large part to its increased popularity to local military members assigned to Charleston AFB, as well as the overall growth of the Charleston metropolitan as a whole.
Current Numbers - Like most real estate markets Summerville has seen a downturn in the number of homes sold, but homes are still selling and the population continues to grow. From the graph you can see the amount of homes that were selling in 2008 as compared to the first 4 months into this year. There are currently around 1500 houses on the market. With the current selling rate per month, there is just over 14 months of inventory on the market.
Top Selling Neighborhoods - Summerville has a vast array of neighborhoods. There are plenty of older neighborhoods, of which the homes are older, but the neighborhood tends to have more "character" and the yards and space between homes tend to be bigger and greater.
On the other hand, many people like the appeal of a new home that has never been lived in before now. That combined with the fact that new home builders are giving a lot of buyers some really good deals is often too much for home buyers to pass on.
Thus far in 2009, the top 5 neighborhoods in Summerville are Wescott Plantation, Cain Bay Plantation, Sangaree, Legend Oaks Plantation, Lakes of Summerville. All of these, with the exception of Sangaree, are considered new construction neighborhoods.
For more information about real estate in Summerville SC or anywhere in the Charleston Tri-county area, please contact Michael Johnson at 843-817-5299 or email at michaeljohnson@carolinaone.com.
Michael J. Johnson, Realtor
843-817-5299
michaeljohnson@carolinaone.com
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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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