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Realtor Mike Carrigan
Licensed in SC
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According to the National Association of Realtors, the market is projected to have a recovery of sales during the second half of this year. Though the real estate market is not out of the woods yet, the pending housing stimulus bill being considered by US Congress is critical in assuring the healthy recovery of the market.
In today’s Charleston Real Estate Market, location has never mattered more. Homes that include a wonderful view of the amazing landscape that can be found in Charleston SC have been selling quickly even during the slow national market.
Although new-home sales are projected to fall 30% in the next year, there are plenty of existing residential homes that have been well kept. Find the perfect home for your needs in some of the nicest residential communities in Charleston South Carolina through Mike Carrigan Realty.
When you are selling your home, you talk to several different realtors, interviewing each one to find the best one for you. You want someone that will represent you well and create an effective marketing campaign for your home.
However, when people decide to buy a home, they tend to stumble upon a Realtor by sheer coincidence. Home buyers see an ad for a home that includes the price and a few details, but says nothing about the Realtor.
Most experts agree that a good rule of thumb is that homes appreciate about four to five percent per year. This number varies a little depending on the year, location, etc.
Now at first, 5% doesn’t seem like that much, after all you could easily earn more investing in stocks or bonds, but let’s take a second look.
Lets say you bought a $200,000 new home in Charleston, and made a $40,000 down payment. At a rate of 5%, your $200,000 home’s value appreciated by $10,000 the very first year. You just earned $10,000 on a $40,000 investment, a 25% “return on investment.”
The old saying, "You better shop around," takes on new meaning when searching for a new home in Charleston. But take heart, you've already made one smart move, deciding that Charleston will be your new home.
Drive around and look at different homes, builders and communities. Mike Carrigan Realty offers several homes and property listed that are well priced and affordable.
If you are building a custom home, make sure to get bids from at least 3 builders, that way you have a choice and a comparison.
When choosing to move to Charleston the location of your future home is convenient to shopping, schools, recreation, hospitals and transportation. With gas prices soaring, you will find comfort knowing that all your errands are within a short distance.
With increasing fuel costs in Charleston SC everything is getting more and more expensive and our dispensable income is shrinking. Everyone is looking to cut costs. Here are some tips for what you can do to save some money on your Charleston properties energy costs.
- It is possible to shower in under 10 minutes
- Ensure you’re using proper water levels when doing laundry. Many times people use the large or extra large setting for medium sized loads.
- Dishwashers and Washing machines offer shorter washing settings; take advantage of them
- Use timers to turn off lights that don’t need to be on all night. Also, cut off lights and electronics that are not in use.
- Turn down the water temperature. More than likely your water is hot enough to nearly burn you.
- On cool summer days/nights open the windows versus running the air conditioner
- Replace your incandescent bulbs with compact fluorescents bulbs. They have a longer life and give out a significant more light than an equivalent incandescent bulb with the same wattage.
- Check your appliances, some of them have energy-saving settings
- Check windows and doors for drafts .
- Insulate your attic, if you have one, and walls to maintain heat in the winter cold in the summer
- Unplug unnecessary things when on vacation. Products still hold an electrically charge when plugged in even if they’re off
There are other ways to cut costs both inside and outside the home, do some research.
With the market in a slump, here is some advice to consider.
- Get a local agent to sell your home. If you’re looking to sell in Charleston SC get a Charleston real estate agent. Buyer’s who are looking for a home will usually use an agent. You agent will know the best places to expose your home. They will also deal in networks where other agents can easily contact them in search of properties like yours.
- Get to know the market that you are selling in. This will give you more knowledge and power when it comes to negotiating. Knowing public stats of what homes have sold for is not enough. At times, the seller may agree to fix something or offer some type of credit to the buyer for some other issue which is not reflected in the sale price. Speak to your agent about this. Our Charleston real estate agents will have the knowledge to help you market your home with monetary and non monetary offers.
- Consider lowering the deposit required by your buyers. Large deposits can be considered a major financial commitment for a buyer. By lowering the deposit, your home may become more attractive to buyers.
- Entice them with some gifts. Perhaps you have a refrigerator or some other things that are in reasonable condition but may not fit your new home’s décor, you may not feel like moving, or would like a new version of that you could offer the buyer. As spoken about earlier, maybe offer to fix something. Perhaps, you possess some skill that may be attractive to your buyer.
- Ensure your broker is marketing according to what they proposed. Also, make suggestions if you have some. Check out what other people in your neighborhood, or wherever, are doing; go to their open house. See if could apply what they are doing to your situation.
Remember each buyer is an individual and independent of each other. You should modify the offer to each buyer.
We are currently experiencing a buyer’s market in South Carolina. This implies that current real estate market conditions are favorable for buyers or renters. The supply of homes is greater than the demand throughout South Carolina. This is the time to negotiate for lower prices in a market where sellers are not getting their original asking price and interest rates are low, 5.875% as of Friday, and falling. However, negotiation needs to be a win-win situation. Everyone wants to feel as if they were not cheated, but rather benefited from the transaction.
Before attempting to negotiate, do your homework!
- Know about the market for the property for which you’re looking to buy. Try to find comparable homes in the same or like communities to help with your negotiations
- Note your strengths as a buyer (i.e. Maybe you can close the sale quickly) Get pre-qualified or pre-approved; this gives you more credibility in the seller’s eyes
- If possible, do some research on your seller.
- Price negotiation isn’t the only negotiation. (i.e. Maybe the seller is willing to replace the carpets, clean the chimney, or put up a fence. Does their occupation or network allow them to do something that is worthwhile for you while inexpensive for them?)
- It always helps to have a representative, get yourself a real estate agent.
From speaking to our clients, the locals, and through our own experience we have complied the top reasons why people are drawn to and eventually call Charleston home.
- The Beaches – Many people love and therefore take vacation at the beach. Charleston offers a number of beaches both public and private. Folly Beach is one of our public family beaches. Kiawah and Seabrook are some the private paradises that Charleston SC has to offer.
- Always something to do – Tourism is one of Charleston’s thriving industries. There are a number of activities to do at any given time including shopping, dining, festivals, concerts, and theaters. The city is bordered by two rivers, the Ashley and Cooper Rivers, and the Charleston Harbor which opens to the Atlantic Ocean. Given this location, Charleston is also known for its outdoor activities such as the beach, fishing, kayaking, surfing and playing golf. Charleston is also known for its shopping and dining.
- Culture and History - Charleston's culture and history is a cornerstone to its tourism industry. The USS Housatonic was sunk by the H.L. Hunley, a confederate submarine, just outside the Harbor in 1864. Charleston is known as the Holy City due to its numerous churches whose steeples dot the skyline. There are also museums, an aquarium, plantations and even a carriage tour of the city.
- A Young, Lively city - Charleston SC is home to several institutes of higher education. This provides the city was a young, intelligent and well-rounded population.
- Retirement - Charleston was ranked #2 in the country by AARP, the American Association of Retired Persons, in an article titled “Dream Towns.”
- Place to raise a Family – The city holds some of the best private and public schools in the state. Charleston is also full of many wholesome family activities such as the aquarium, kids’ museums, youth programs and sports, and the parks.
- Thriving Job market – With large corporations like Bosch and Amoco, Charleston has a large and varied job market.
- Great Weather - Charleston has a mild, subtropical climate. Many of the people who come from the north proclaim the city’s great climate and lack of snow.
- Southern Charm – In Southern Living, Charleston SC was named the “Favorite Southern City” last year by the magazine’s readers.
- Boating – A popular boaters’ destination. Charleston is one of the oldest port cities in the south. There are a number of marinas and regattas each year. Also, with its close proximity to the Gulf Stream it is a fisherman’s paradise.
Mike Carrigan
Carolina One
New Homes
Land Development Services
C. 843-364-3286 F. 843-746-4643
mcarrigan@carolinaone.com
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