Michele Reneau, Realtor, CRS, ABR, GRI ~ Charleston, SC Relocation Experts Team

I got a phone call from a client that liked a real estate listing I sent to her in North Charleston, SC. See to the only photo in MLS below.

This 3 BR 2 BA 1575 sqft home was originally listed at $163,000, dropped to $153,000, then $145,900, then $139,000, and this week, it was just reduced to $129,900. This property is a bank owned property that has been on the market since November 2008. My buyer wanted to see more pictures of the interior since there was only one photo (the exterior) which is the minimum required by our MLS. Since the listing agent did not include them, the only way for this to happen was for me to preview this property, take photos and send them to her.

As you can see, you really can't tell much from this photo. It's taken vertically which don't do this house any favors. As a seller's agent, I view it my fiduciary duty to help a seller (regardless of whether is a a bank owner or resale) to maximize the sale in the shortest amount of time for the most amount of money. Most buyers and agents assume that if a property doesn't have multiple photos, it must be a dog inside--which is EXACTLY what I expected to find when I preview this foreclosure.

To my surprise, this home is an absolute GEM for the price!! Check out these photos I took of this property. Why on earth would take a vertical photo of this house. I can understand why someone might think to do so when a garage is a large part of the front of the house, but if you take the photo straight on, it does not focus on the garage.

In all seriousness, there was nothing wrong with this house that couldn't be fixed inexpensively!! The doorbell was broken and the carpet needed to be cleaned and stretched at the least, but replacement would be best. It showed very well, but most buyers will not go inside because they will make assumptions about it.

I was floored to see what a great buying opportunity this is! The crazy thing is that I preview a lot of bank owned property to find this happens over and over. What I notice about the days on market and price history is very sad. I really believe with multiple photos, this home would have gotten the exposure it deserves and would have sold at a higher price. So seller, please ask your agent to send you a link to the MLS listing if they have not sent it to you and don't be afraid to ask for multiple photos. It could cost you days on the market and thousands of dollars.

Contact Michele Reneau, Top Real Estate Agent, North Charleston, SC Relocation Expert, CRS, GRI, ABR. Licensed Realtor® in South Carolina at 843-572-0518 to list your property for sale or to purchase real estate in Charleston, Goose Creek, Summerville, North Charleston, Hanahan, Mount Pleasant and the surrounding areas in Charleston County, Berkeley County or Dorchester County, South Carolina. Featured on HGTV's House Hunters. Publisher/Author for Charleston Real Estate Update including featured listings and sold properties, and monthly statistics on Charleston Real Estate Market. RESA 2009 Staging Realtor of the Year Nominee. The Charleston Relocation Expert specializes in military relocation, first time homebuyers and creating marketing exposure to sell your home in the Charleston SC Real Estate market. I can also be contacted by email at mreneau@carolinaone.com. To view all Charleston Metro area houses for Sale Click Here and then click on Search for Homes. With over 25 years of Lowcountry Living, I know the Charleston Metro area. I will help you get your home sold and/or help you buy your Charleston home or land.

There is assistance for military personal if you need to sell your home and your home's value is less than current fair market value. In the event you have a VA loan and you plan to keep your house, please contact your loan officer or contact me for a referral to do an interest rate reduction on your current loan. You can do this without getting an appraisel.

First is the Homeowners Assistance Program (HAP) It's headed up by the Army Corp of Engineers. HAP is a DOD program and the DOD establishes the guidelines of this program. This law that was extended recently provides for assistance to eligible federal personnel, who were stationed at or near an installation scheduled for closure or realignment and who, through no fault of their own, are unable to sell their homes under reasonable terms and conditions.

Who is eligible?

The following are general program eligibility requirements:

• Applicants for the program must be a military member, assigned at or near the installation announced for realignment or closure. Applicants must also be the owner-occupant on the date of the announcement.

• Personnel transferred or terminated within six months prior to the announcement of the realignment or closure who were owner-occupants at the time of transfer.

• Civilian and military personnel on an overseas tour who transferred within 3 years prior to the announcement of the realignment or closure and who are homeowners in the area.

• Civilian employee homeowners on an overseas tour with reemployment rights in the area affected by the realignment or closure.

• A member of the Armed Forces who transferred from the installation within four (4) years prior to the public announcement who, because of his/her military specialty and assignment planning, anticipated repeated assignments to the installation.

• Applicants must relocate at least 50 miles from the dwelling for which compensation is being sought.

Benefits available through HAP

1. The Government may purchase applicants homes by paying off the balance of any mortgage existing at the time of the announcement, or for 75% of the fair market value prior to the announcement, whichever is higher. If the amount an applicant owes on the mortgage is less than 75% of the prior fair market value, the applicant may be paid the difference.

   The HAP Resale Program sells properties acquired through the HAP to re-coup costs to fund future programs.

2. Applicants who are able to sell their homes may be reimbursed for part of their losses or paid at the time of closing in some cases.

3. Finally, applicants who defaulted on their mortgage through foreclosure may receive assistance.

Applicants are liable for taxes on any benefits received through HAP.

If the borrower is unable to sell the property for an amount that is greater than or equal to what
he/she owes on the loan, including closing costs, VA may pay a “compromise claim” for the
difference in order to allow the private sale to go through. The borrower can sell the property to a
buyer who gets his/her own financing or to a buyer who wants to assume the loan. However,
with a compromise assumption, the lender does have to agree to have the amount of its guaranty
reduced by the amount of the claim payment.
In order to be considered for a compromise sale, several factors must be considered:

• The property must be sold for fair market value.
• The closing costs must be reasonable and customary.
• The compromise sale must be less costly for the Government than foreclosure.
• There must be a financial hardship on the part of the seller.
• On loans that originated on or before December 31, 1989, the seller must be willing to sign a promissory note.
• There must be no second liens or other liens (unless the amount is insignificant). In situations whereby there are second liens or other liens, the seller can request that the lienholder consider releasing the lien and converting the loan to a personal loan.
• The seller must first obtain a sales contract in order to be considered for the program.
• To protect the seller’s interest, the seller should make the sales contract contingent and/orsubject to the approval of a VA compromise sale.

For a copy of this 28 page document, please email me at michele@CharlestonRelocationExperts.com.

Contact Michele Reneau, Top Real Estate Agent, North Charleston, SC Relocation Expert, CRS, GRI, ABR. Licensed Realtor® in South Carolina at 843-572-0518 to list your property for sale or to purchase real estate in Charleston, Goose Creek, Summerville, North Charleston, Hanahan, Mount Pleasant neighborhoods and the surrounding areas in Charleston County, Berkeley County or Dorchester County, South Carolina. Featured on HGTV's House Hunters. Publisher/Author for Charleston Real Estate Update including featured listings and sold properties, and monthly statistics on Charleston Real Estate Market. RESA 2009 Staging Realtor of the Year Nominee. The Charleston Relocation Expert specializes in military relocation, first time homebuyers and creating marketing exposure to sell your home in the Charleston SC Real Estate market. I can also be contacted by email at mreneau@carolinaone.com. To view all Charleston Metro area houses for Sale Click Here and then click on Search for Homes. With over 25 years of Lowcountry Living, I know the Charleston Metro area. I will help you get your home sold and/or help you buy your Charleston home or land.

The biggest resistance to staging recommendations usually surrounds painting. It is interesting to me that sellers resist painting and then they wonder why a buyer can't overlook it. Fact of the matter is that painting is tedious work and buyers don't want to think about all the work that have to do to move into a house. The reason why you don't want to do it is exactly why you need to do it.

Which living room is more cozy and inviting?

AFTER

BEFORE

This is the same exact living room. The yellow on the walls was pretty bright (visualize school bus yellow). Painting the walls and adding punches of colors with the pillows gives this room a different look. The seller also used slip covers on the couches and rearranged the furniture per our stager, Melissa Marro's recommendations. The look and feel of the room is transformed!

The master bedroom was painted a very trendy green. It might not be for everyone, but a painting it a more neutral color makes this room more of a relaxing retreat. The seller also reoriented the furniture and added some nice accessories.

Which master bedroom feels more relaxing?

AFTER

BEFORE

The seller of this Summerville, SC home didn't resist the painting recommendations. Interestingly after the changes were made, they were pleasantly surprised that they enjoyed it very much. Kudos to them for being willing to make the changes!

Michele Reneau - Military Relocation Specialist with Carolina One Real Estate in Charleston, SC.

Contact Michele Reneau, Top Real Estate Agent, North Charleston, SC Relocation Expert, CRS, GRI, ABR. Licensed Realtor® in South Carolina at 843-572-0518 to list your property for sale or to purchase real estate in Charleston, Goose Creek, Summerville, North Charleston, Hanahan, Mount Pleasant and the surrounding areas in Charleston County, Berkeley County or Dorchester County, South Carolina. Featured on HGTV's House Hunters. Publisher/Author for Charleston Real Estate Update including featured listings and sold properties, and monthly statistics on Charleston Real Estate Market. RESA 2009 Staging Realtor of the Year Nominee. The Charleston Relocation Expert specializes in military relocation, first time homebuyers and creating marketing exposure to sell your home in the Charleston SC Real Estate market. I can also be contacted by email at mreneau@carolinaone.com. To view all Charleston Metro area houses for Sale Click Here and then click on Search for Homes. With over 25 years of Lowcountry Living, I know the Charleston Metro area. I will help you get your home sold and/or help you buy your Charleston home or land.

I often get a funny look from folks when I ask them to do some tasks to get a home ready to put on the market. But the difference is in the details. The sellers of this Summerville, SC home were great to work with and did an excellent job with the staging consultation recommendations given by Melissa Marro, First Impressions. By a simple decluttering, this kitchen feels much larger and appears to have much more counterspace.

BEFORE AFTER

The breakfast area first looks a little disorganized. Decluttering this area and changing the light fixture gives this room an elegant makeover that cost next to nothing but makes a big difference! The moral of the story: Don't underestimate the details when it comes to getting your house ready to sell. In addition, an eye for taking photos is important. Ask your agent for examples of current listing photos and evaluate the quality of the photos. Your listing photos is one of the most important marketing pieces!

BEFORE AFTER

Michele Reneau - Military Relocation Specialist with Carolina One Real Estate in Charleston, SC.

Contact Michele Reneau, Top Real Estate Agent, North Charleston, SC Relocation Expert, CRS, GRI, ABR. Licensed Realtor® in South Carolina at 843-572-0518 to list your property for sale or to purchase real estate in Charleston, Goose Creek, Summerville, North Charleston, Hanahan, Mount Pleasant and the surrounding areas in Charleston County, Berkeley County or Dorchester County, South Carolina. Featured on HGTV's House Hunters. Publisher/Author for Charleston Real Estate Update including featured listings and sold properties, and monthly statistics on Charleston Real Estate Market. RESA 2009 Staging Realtor of the Year Nominee. The Charleston Relocation Expert specializes in military relocation, first time homebuyers and creating marketing exposure to sell your home in the Charleston SC Real Estate market. I can also be contacted by email at mreneau@carolinaone.com. To view all Charleston Metro area houses for Sale Click Here and then click on Search for Homes. With over 25 years of Lowcountry Living, I know the Charleston Metro area.

If you would like to support our troops when they return home to Charleston, SC from an overseas tour, please continue reading. As information becomes available on soldiers returning home, date and time will be published and we'll request volunteers to show up at the airport. Times will vary so we'll need as many people as possible to make this endeavor a success each time a soldier returns home. We want to provide a warm welcome to soldiers and show our support to them and their families at the airport as they disembark the plane. I need you to bring your cheers, hugs, signs, balloons, flowers, and support. If you will be able to volunteer, please send me your contact info with email and you'll be notified of future updates. Thanks for your help!

Michele Reneau - Military Relocation Specialist with Carolina One Real Estate in Charleston, SC.

Contact Michele Reneau, Top Real Estate Agent, North Charleston, SC Relocation Expert, CRS, GRI, ABR. Licensed Realtor® in South Carolina at 843-572-0518 to list your property for sale or to purchase real estate in Charleston, Goose Creek, Summerville, North Charleston, Hanahan, Mount Pleasant and the surrounding areas in Charleston County, Berkeley County or Dorchester County, South Carolina. Featured on HGTV's House Hunters. Publisher/Author for Charleston Real Estate Update including featured listings and sold properties, and monthly statistics on Charleston Real Estate Market. RESA 2009 Staging Realtor of the Year Nominee. The Charleston Relocation Expert specializes in military relocation, first time homebuyers and creating marketing exposure to sell your home in the Charleston SC Real Estate market. I can also be contacted by email at mreneau@carolinaone.com. To view all Charleston Metro area houses for Sale Click Here and then click on Search for Homes.