Vince Perna - Folly Beach, SC

Buy beachfront real estate now because prices and interest rates are low and you could have your pick of the litter. I am going to let you in on a little secret. On Folly Beach, SC there have been no sales of a quality beachfront home in the last twelve months. All sales have been essentially lot purchases with an inferior home on the property. There are 6 of these properties for sale below $1 million and as low as $850k. There are 19 properties with top quality homes for sale between $1.25 million and $2 million. There are 12 for sale over $2 million (think beachfront monster homes).

How do you think these sellers will react to hearing there is a buyer in town? They will be happy just to be talking to a warm body. If you have your briefcase of cash ready, and you are looking for oceanfront property, you can travel door to door and have your pick of the best of the bunch. You could possibly even name your price. Smart people will recognize this opportunity and capitalize on the situation.

Then here comes the catch, as more and more people buy up beachfront properties, the next buyer loses a little leverage. The next buyer has less, and so on. So act now and be the first buyer. You may be able to get the best property at your price.

Folly Beach Real Estate is at historically low levels. Folly Beach is a comfy beach town with a laid back attitude within minutes to downtown Charleston, SC. As you leave James Island and pass Crosby's seafood you will cross the Folly River onto Folly Island. The main street in town is Center Street. This is the business district and contains all the shopping, restaurants and nightlife.

At the only stoplight on the island you can decide to go right to the West or left to the East. The streets form a grid with 2nd street being the second block and 3rd Street, the third, and so on. If you go east, you will pass the washout and arrive on the section of Ashley avenue with only two rows of houses. Oceanfront and Riverfront. It is possible that you can have a deep water dock to park your boat and be across the street from the Atlantic Ocean. If you go West you will eventually arrive at Folly Beach County Park with amenities like a snack bar, showers, restrooms, and lifeguards. The roads that run parallel to the beach are (in order from the beach) Arctic, Ashley, Cooper, Erie, Hudson, Huron, and Indian.

The following chart will summarize our market pretty well and show why it is a good time to buy. From 1996 to 2003 we experienced 15% appreciation. This is shown by the red line and shows where prices would be if that trend had continued through 2009. The green line is the actual average sales price for Folly Beach. Notice the descent from the average showing how far prices have come down. We are approcahing the more modest 7% average appreciation line over the same time frame. Prices are at some of the lowest levels in years. Don't forget about the low interest rates that shared with these low prices creates a unique buying opportunity. Surf's Up! Come On In!

Homes for Sale in Bayview Farms James Island SC are priced better than ever! Bayview Farms is centrally located in James Island between downtown Charleston and Folly Beach. The homes are mainly newer, built within the last 10-15 years. It was built back to front with newer homes in the front built as recently as 2004. There is no other neighborhood in James Island with newer homes and a community pool and clubhouse in this price range. That is what makes it such a great deal.

Bayview Farms is mainly consisted of families and you will always see a mom walking a stroller, a youngster riding their bike, or a family walking to the pool. There are sidewalks throughout the entire neighborhood for easy walking, jogging, or bike riding. There are three pools, a large shallow family pool, a skinny deeper pool for swimming laps and a kiddie pool. There is also a tennis court, a basketball hoop, and the clubhouse. There is a great neighborhood association that has the social committee working overtime. There are multiple parties each year for the residents and guests including food, fun, and music.

Bayview Farms was built by Landura Homes, a local Charleston company. It sits right off Fort Johnson Road in James Island across the street from James Island Charter High School. It is bordered on one side by City of Charleston soccer fields which allow for privacy and recreation. The back of the neighborhood sits on Clark Sound, a collection of creeks and marshes leading to the Charleston Harbor. Many homes have extensive views and some can see the Morris Island lighthouse. If you are looking for a home for sale in a family friendly neighborhood with newer homes and convenient to downtown and the beach, Bayview Farms should be your number one choice.

It is easy to be fearful right now, news is not good and the future is uncertain. One thing I can tell you is that prices are low right now. If there were ever questions about the rate of return on beach property, buying low is always a good start. Historically, vacation property does well, as the demand never really disappears altogether. People will always be interested in purchasing property in vacation destinations. If you have a good time horizon where you will also enjoy the property, it is a fairly safe investment.

Now is a good time to take a look at how the rental income on the property performs and include that in your decision to purchase. This may contribute to making the mortgage payments easier to handle, and while prices were high this was usually a small help, but the difference has gotten smaller and we may be approaching a favorable cash-flow situation. It reminds me of a great quote that I heard from Warren Buffet, "Be fearful when others are greedy, and greedy when others are fearful".