The Value is in the List Price
Here’s some interesting info. Many Buyers entering the maketplace expect to get huge discounts off of list price. This is by far the exception to the rule.
Vapor Barrier 101
A vapor barrier is, quite simply, a rolled out piece of plastic placed and staked under a home. In the very humid and hot Lowcountry, we often have termite inspections, or CL-100’s, come back indicating the need for a vapor barrier in a crawl space. We have a lot of brick ranch homes [...]
Advice for an “Occupy Prior to Closing Agreement”
Ah, the Occupy Prior to Closing Agreement. What a delight.
Seriously, though, if you are selling a home, and the buyer wants to move in before it closes, there are many things you need to consider.
Check with your insurance company to make sure you don’t need to get a landlord policy. The Buyer needs to cover their own [...]
Considerations for Recent Home Buyers
This month we have a letter from John Osborne, an Insurance and Financial Service Specialist. Many people have recently made a purchase, and he brings up some good points that are well worth considering.
Dear Prospective or Existing Property Owner,
On the heels of honoring those who’ve fought and paid the ultimate sacrifice for our freedoms, [...]
First Time Homebuyer Credits Ends
How will the local real estate market be impacted by the expiration of the $8,000 tax credit for First Time Homebuyers and the $6,500 tax credit for move up buyers? There might be a few less first time homebuyers in the market for the next 30 or 60 days because so many tried to get in under [...]
Food Insurance Update for Coastal South Carolina
Current extension expires again the end of this month. There is a bill (Flood Reform Priorities Act) on the floor that would extend it for 5 years. It is important to secure flood insurance prior to the end of the month.
Mortgage News for 5-12-10
The Mortgage Bankers Association reports: Rates for 30-year fixed mortgages have fallen to their lowest level in six weeks, according to Freddie Mac. The average rate for 30-year fixed-rate mortgages was 5 percent this week.
National Mortgage News reports: Beginning June 1, lenders originating mortgages being sold to Fannie Mae will have to pull a second [...]
Palmetto Heroes Program
New loan program available through SC State Housing that allows for 100% financing for teachers, firefighters, EMS, and police! There is a max limit of $7000 in down payment assistance (3.5% of a 200K house), which may or may not be forgivable, depending on income levels. There [...]
Community and School Reports
If you would like us to send you a Community and School Report that includes detailed community and school information for any area around Charleston, SC or any other zip code in the U.S., just let us know.
News About Fannie Mae Owned Properties
On REO (foreclosure) properties that Fannie Mae owns… They are marketing 3.5% of the Sales Price for Buyers Closing Costs, Prepaids, and GE appliances… there are a couple of small print lines… the buyer DOES NOT have to utilize the HomePath program to qualify!….. ask us for details!
We have an excel spread sheet of all [...]
