Jeff McIlhenny

The Charleston SC real estate market has shifted over the last couple years to a buyers market. With an increase in Inventory, average Days On the Market (DOM), and Absorption Rate, buyers now have quite a selection when deciding on which house to buy. This means even more competition for those looking to list their house in Charleston SC.

In past markets that were more favorable to sellers, you could get away with not putting too much effort in making your home stand out--in 2005 all you had to do was simply put a sign in the yard! However, as we approach 2009, it is important that sellers put their best foot forward. Curb appeal, taking care of the "honey do" list, and pricing correctly are all must dos for sellers in today's Charleston SC real estate market.

However, there is one simple, yet important, step that home sellers can take to make their house stand out from the rest: A Pre Listing Home Inspection.

How well do you know your house? There may be issues that you are completely unaware of. A Pre Listing Inspection will identify any issues BEFORE they become issues, or worse, deal killers. By knowing these issues up front, you can either take action to remedy them and remove them, or disclose them upfront so there are no "surprises".

There are numurous benefits of a Pre List Inspection for home sellers in the Charleston SC real estate market:

1) No Surprise--why wait for a Buyer's Home Inspector to uncover any unknown issues after a agreement has been negotiated and reached? Then you will have to renogiate the contract and either take on the expense of repairs or reduce the selling price. Or worse...

2) Losing Your Buyer--it is very common for buyers to have a contingency written into their offer that the sale is contingent upon a satisfactory home inspection (even without this contingency, their is still protections in the contract itself). If issues are raised by the Home Inspection Report, then the you could end up losing the buyer! On top of that, you will still have to deal with the issue raised. In this market, you DO NOT want to lose a buyer in hand!

3) Strengthen Your Negotiating Position---by knowing issues upfront, you strengthen your position. You can take care of the repair or at least disclose it upfront, which eliminates it as a negotiating tool against you.

4) No More Buyer's "Cold Feet"---potential buyers won't be scared away by their Home Inspector raising issues that aren't big problems

5) Reassurance--prospecive buyers won't have the worry of "if" something might be wrong--they will have hard evidence to show them otherwise

All of these lead to selling your house for more money, less time, and with less aggravation.

Your Pre Listing Home Inspection Report not only is a protection, but it is also a marketing asset. Not only because it reassures potential buyers, but also beacuse you can leave copies in the house for when prospective buyers view the house. Your Charleston SC list agent can upload the report to their website and include it in online listings so prospects can see for themselves that your house can be purchased worry free! Buyers in the Charleston SC real estate market not only appreciate knowing ahead of time that a your house can be purchased worry free, but prospective buyers will wonder why the other houses do not have Pre Listing Inspections performed on them---talk about making your house stand out from the competition!

Selling your house in the Charleston SC real estate market is challenging enough. You shouldn't make it any harder by not taking the necessary steps to make sure your home stands out from the competition. You have to treat this as a competition, because it is! Best house wins!

In the current Charleston SC real estate market, you have to take some extra steps to be among the good statistics--homes that sell faster than the average. Pre Listing Home Inspections are just one more way to get a leg up on the competition.

Looking to list your Charleston SC house? Don't get stuck in a 6 month listing with the wrong Charleston SC Realtor! Find out more about my seller services and outside the box marketing for those who need a Charleston SC list agent.

Jeff McIlhenny is a licensed Realtor with Weichert Realtors Palmetto Coast in Mt Pleasant, SC and covers the entire Charleston SC real estate market.

It is well known that the Charleston SC real estate market is a buyer's market. Despite this common knowledge, many buyer's are still hesitant to move forward and buy a home in Charleston SC. A variety of reasons are contributing to home buyers sitting on the fence, but many of them are simple misconceptions and fear.

Let's look at one type of buyer in particular: Move up buyers. A buyer's market is the perfect time to move up. But many home owners in Charleston SC are not even considering it. This can be a mistake, and potential buyers are missing a prime opportunity.

Homeownership is the biggest key to building personal wealth in this country. You have to look at owning a home as an investment, because it is. Certainly, it is also where you live, but you always have to keep in mind that it is first and foremost an investment. A buyer's market offers you the opportunity to increase your net worth at a lower cost. Below I will show some simple numbers to better illustrate this point.

First, let's look at the common reasons that buyers are reluctant to move up in the Charleston SC real estate market. The fact that it is a buyer's market, many simply do not want to sell because of "lost money". They simply cannot sell their house for what they could have a few years ago. While this is true, what they are missing is the fact that the new house they buy will be purchased at a discount! The equity that they would be losing by selling their current house is more than made up by the savings on the new home. Here is an example to illustrate this, using simple numbers.

Let's say there has been a 5% drop in the market this past year. Your house was worth $200,000 this time last year, but with the drop you would now sell it for $190,000. Most homeowners in Charleston SC would see this as a $10,000 loss, and the thought of selling is done.

However, take a look at a more expensive home. If you look at the $400,000 home, and take off the 5%, you are left buying this new home for $380,000. You just bought a $400,000 Charleston SC home, but paid $20,000 less for it.

As you can see by the example, the gain on the buying side outweighs the loss on the selling side. Not to mention, as the homes appreciate over time, the more expensive home will build more equity simply because it has a higher value to start with.

There can be some fear for homeowners in attemting to list their houses for sale in the current Charleston SC real estate market. There is a large inventory of homes, the Absorption Rate is the highest it's been, so there is a lot of competition. Why sell if you don't have to, and risk the frustration?

When looking to list your house for sale, it is important that you do your homework and get the best information in making this decision. The internet is a great tool, but you also need the help of a Charleston SC Realtor. Not just any Realtor, but one that is tuned into the current Charleston SC real estate market. Talking with someone to explore this opportunity would only take a little time, and this is a prime opportunity that smart, savvy homeowners are taking advantage of to their benefit.

Visit my site for helpful home selling services and to find your Charleston SC list agent.

Jeff McIlhenny is a licensed SC Realtor with Weichert Realtors Palmetto Coast in Mt Pleasant, and serves the entire Charleston SC real estate market. You can reach him at 843-452-2953 or email at jeffm@weichertpc.com