About Florence County, SC

OK, I know I'm going to get hammered by my colleagues for this post. I know that there are many arguments why every Realtor should feel free to sell new construction. And that's fine. I just believe that every new construction home buyer deserves better. Let me explain.

First, too many Realtors don't know much about how to build a home. Now I know that's not necessary to sell one but it is important if you're going to provide professional help to a buyer -- before and after the sale. I believe that any agent wanting to sell new construction should become certified as a new home specialist (CNHS). It's not hard and isn't very expensive. Short of that, my advice to new home buyers is that they don't use a Realtor who isn't certified.

Secondly, many Realtors don't seemingly know the difference between a spec home and a custom built home when it comes to pricing. When agent don't realize that there is a reason why it cost $10 to $50 more for a custom home, it creates impossible expectations and makes meaningful negotiation impossible.

Thirdly, most agents don't know the standards set by their state for residential builders. Most states have printed books that are free for the asking. Far too many have never seen one let alone read one. Every new construction buyer should expect that their agent not only have a copy but be thoroughly familiar with it's contents.

Fourthly, most agents don't have a clue as to what a builder's responsibilities are after the sale of a home and, therefore, don't know how to help their clients when problems arise. If you're a buyer interested in purchasing a new construction, here's what I'd tell you to do. Ask the agent you're working with what a builder's responsibilities are after the sale. Then call the state's residential builder's commission and ask the same question. If the answers are significantly different, get another agent!

For Realtors, none of these are insurmountable problems to overcome. A little time and training is all it would take. So if you want to be a professional new home sales agent, take the time and get the training!

For new construction buyers, however, the problem is much more easily resolved. Find a certified new home specialist (CNHS) and use him. I just happen to know a good one!

As a full time professional Realtor in Florence, SC, I have seen three huge financial mistakes made by home buyers over and over again. Although they seem so simple to avoid or correct, it's often difficult to get buyers to understand how these three biggies can sabotage any attempt to purchase a home. Here's the advice I give my clients right up front when they begin their search for homes in Florence.

1. Review your credit! About six months before making an offer on a home, pull your credit report from any of the three major providers (Equifax, Experian or TransUnion). You don't want any surprises here. Evaluate it. If you find errors, fix them. If you have a few problems that need correcting, do it. The difference between a sub-600 and 700-plus score can cost a buyer as much as 3% or more in interest rates. That's a huge hunk of change!

2. Get pre-approved! Notice that I did not say "pre-qualified," which means virtually nothing in today's market. In order to get pre-approved, the lender must look at your credit score, calculate your expense to income ratio, etc. Without going into a lot of detail, here are just a couple reasons why this is so important. (a) The top range for the amount of money you can borrow will be established. You need to know this when looking for a home. (b) Your offer will be taken much more seriously by a seller if it is delivered with a pre-approval letter from a reputable lender attached. This could give you the edge over another offer that is similar to yours. (c) In our market, more and more sellers are refusing to consider offers that are not accompanied by such documentation. There have just been too many transactions fall apart on the way to closing.

3. Don't take out any new credit during the transaction! You would think this would be common sense but most people don't realize that new credit accounts (whether you actually use them or not) affect their score. So don't buy that car, accept that new credit card, open an account at a department store, etc. Most underwriters are rechecking credit scores a day or two before closing. If there have been any significant changes, the loan is subject to being pulled.

For a bonus though, I'd like to add one more huge mistake I see all too often. Unfortunately, there are too many Realtors who salivate just thinking about talking you into doing it. Most of the time loan officers can get people approved for more money and higher payments than what they really need or what their family budget can easily handle. Don't let a Realtor talk you into maxing out your approval limit if there are plenty of other options available. If necessary, cut back on your "wants" in a house so you don't stretch your family's budget and become house poor. Where's the joy in home ownership if you are stressed out making those payments?

If you would like a FREE copy of my special report "49 Essential Tips Every Home Buyer Should Know" just go to my website at www.FlorenceHomeTeam.com and you can either download or print out a copy.

The Home Builders Association of the Greater Pee Dee announces its 2008 Tour of Homes. With over 30 homes ranging in price form $100,000 to over $400,000 participating in the Tour, consumers will have a tremendous selection. The Tour is scheduled for October 4th - 5th and October 11th - 12th. Homes will be open on Saturdays from 10am to 5pm and on Sundays from 1pm - 5pm. For more information and to download a Tour of Homes map, just follow this link http://www.hbapeedee.com/tour.php to association's web page. If you have any questions, call (843) 665-5885 and they will be happy to help.

The picture above is of the 2008 Board of Directors. The picture below is of Carolina Townhouses, one of the participants in this year's Tour. These two and three bedroom townhouses run from $99,900 to $112,900. They are conveniently located near Carolinas Hospital just off Pamplico Hwy. If you're looking for affordable housing, check these units out!

Make your reservations now for Florence Little Theatre's performance of The Miracle Worker. Performances begin October 24 and will run through November 1. For a complete schedule, showtimes and reservations go to http://www.florenceweb.com/FLT/shows.htm or call (843) 662-3731. The theatre's new facilities are located at 417 S Dargan Street in downtown Florence. learn more about the history of the Little Theatre, go to http://www.florencehometeam.com/PageManager/default.aspx/PageID=2112452.

If you're looking for a source to learn more about Florence, SC, this new web page will get you off to a good start. Just go to www.AllAboutFlorence.com as your gateway to local knowledge. The page has numerous links to government, hospitals, school district, local weather, higher educational facilities, the local library and museum, art centers, state parks, real estate services, etc.. etc. There's something for everyone so check it out today!