Real estate in Lake Carolina had a not so bad week last week. 4 homes went under contract at an average list price of 243,000. Another 3 homes closed this past week at an average sold price of 225,000. This may not sound like a whole lot, but there were only 3 new listings that came on the market.
Again, looking at supply vs. demand; demand (sales) out weighed new supply (new listings). The more weeks like this the better for house values in Lake Carolina. Check back for more updates.
For a free, no obligation market analysis for the value of your home, click here
Also, you can click here to search all the homes for sale in Lake Carolina.
If you ever need me, I am a phone call, email, or a text away!
Mark Corral
Keller Williams Realty
803-238-0420 cell
mcorral@kw.com email
Are house values in Lake Carolina increasing or decreasing?
Real Estate in Lake Carolina as of late have been very tough for sellers. The best way to look at, is to first look at the law of supply vs. demand. Real estate is like any other market. The value of your home is based on how much supply is out there and how much demand to support it. Lake Carolina's real estate supply has has gone up over the past few years.
Sales(demand) has gone down 24% year over year ('07-'08), and has gone down 40% versus this time last year. The positive note is that inventory has come down slightly over the past year, around 7%.
To answer my question; yes, home values are slightly decreasing in Lake Carolina. Never something homeowners want to hear. So if you don't have to sell, DON'T. If you do, make sure you select a Realtor who knows the market.
Visit my website for a free, no obligation market analysis on your home, www.markcorral.com
You can also reach me at mcorral@kw.com
Come back soon.
Mark Corral
Realtor
Keller Williams Realty
803.238.0420 cell
I am asked quite often, "Mark, is this house worth what their asking?"
When you are working with a Realtor, it's important to know how knowledgable they are or are not. You may end up paying more than what the house is worth. The worse part is, you may never know exactly how much you overpaid for the house. Here are a couple of tips when trying to determine if the house you like is worth the money:
1) How long has it been on the market at the current asking price?
2) What is the competition?
For more information about buying a home, please visit my website, www.markcorral.com
Your in success,
Mark Corral
Keller Williams Realty
803-238-0420 direct
mcorral@kw.com email
There is alot of talk about the new stimulus package that was just passed and signed by the President. There are many provisions in this bill that relate to real estate. The biggest was the first-time home buyer tax credit. This tax credit is now $8000 to any first-time home buyer (or if you have not owned a home in the past 3 years) for purchases from Jan.1, 2009 through Dec. 31, 2009. The credit does NOT require repayment.This is NOT a deduction, but a straight credit when you file your taxes. For instance, if you file and owe the government $3000, you will receive a check for $5000.
For information on all the provisions in this bill that are real estate related click the following link
Read more about the stimulus package >
If you know anyone who is currently renting, please contact me so I can help them. This tax credit along with interest rates at a 40 year low and home prices more affordable, NOW is the time to buy.
Please visit my webite to search for properties and more at www.markcorral.com
Mark Corral
Realtor
Keller Williams Realty
803-238-0420
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