When Your Listing Doesn’t Sell in Charleston

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Selling your Charleston home ? Get a free home value report 

Today’s real estate tip involves a specific question: "What do I do if my home is on the market but isn’t yet sold?" Three factors determine how well a home will sell: exposure, condition, and price.

Exposure primarily involves the real estate company that is hired. We spend a lot of money to successfully market your home on all the top websites. We gather a large pool of buyers that we have control over to make sure your listing is seen. Additionally, we play nice with other local real estate companies, so their buyers also are aware of your listing. We try to set up the best chance for your home to sell.

Sometimes, the condition of the home is not excellent. We suggest walking through your home objectively as though you were a buyer. Would you like what you see? For example, when you walk into the kitchen, are there things on the countertops to distract you from the home? Are the bathrooms clean and shiny? Does it smell good? Build integrity with your prospective buyers by ensuring your home is neat. Be cautious not to lose a buyer based on condition.

The price of a property can be driven up by location and condition. However, if the condition is not excellent, the price needs to be adjusted based on the condition. Drop the price incrementally over time until it re-enters the hot sheet, where it’s sent back out to the public, buyers, and sites.

If the buyers did not express interest in the home, it’s most likely about the price, exposure, or condition. It’s important to address these issues. As your real estate consultant, we can sit down together, and help you understand all these items clearly. We look forward to hearing from you soon!

Questions to Ask Yourself when Balancing a Home Buying Budget

Buying a Charleston home? Get a full home search

Selling your Charleston home ? Get a free home value report 

Today’s topic involves financial planning when buying a home. We suggest breaking down a budget to avoid difficulties in the future. Firstly, ask yourself the following four questions to help determine your personal budget.

• How much can you afford to spend on a home?
• How much is a comfortable monthly payment?
• How much would a bank be willing to lend you on a monthly basis?
• How does that amount of the bank translate into a listing price?

Next, we have suggestions for you to keep in mind when determining your budget. Here is our advice:

1. Take your overall income and remove your expenses. Identify monthly expenses and add them all up. You’ll want to include anything that might show up in your credit report such as a car payment, student loans, or credit card debt. Subtract those expenses from your total income.
2. Banks lend approximately forty percent of available income. Leftover income goes towards a housing payment.
3. For every seven to eight dollars spent monthly, you have a thousand dollars towards your home. For example, if you want to buy $100,000 home, you’d want a $700 or $800 monthly payment ideally.

If you have any questions about the buying process, or if you need real estate assistance of any kind, please don't hesitate to reach out to us. We would love to hear from you!

Is an Early Offer on Your Charleston Home a Bad Omen?

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Selling your Charleston home ? Get a free home value report 

I have a lot of people asking me what they should do with early offers on their home. Should they take them? Should they ignore them? What are you to do?

Here's what we know statistically: when a home is priced right and in good condition, it has a 40% chance of selling in less than 30 days. In the following 60 days, the home then only has a 16% chance to sell.

Sometimes sellers will get nervous and think that they've sold their home too quickly and for not enough money. This is not the reality of the situation. What happens is that buyers jump when they see a good home come onto the market.

If you get an offer quickly, its only a validation that you've priced your home well and that it is a desirable property.

If you're having trouble choosing from multiple offers on your home, please don't hesitate to give us a call. I'd love to consult with you and help you to make the best decision possible.

As always, refer to me as your #1 resource for real estate in Charleston!

Don't Miss Out on the Best Time to Sell Your Home

Buying a Charleston home? Get a full home search

Selling your Charleston home ? Get a free home value report 

A lot of people have been asking me when the best time to sell a home is. A lot of people tend to think that the summer is the best time to sell because it's the busiest season. However, here in Charleston we have phenomenal weather all year and we're also seeing a lot of people move to our city.

With this being said, there really is no 'best time' to buy or sell a home in Charleston. We don't have much seasonal shift due to weather, so we are very lucky with the market that we have.

In the winter months we still have a lot of buyers out looking for homes, so don't be afraid to list your home despite it being a slower time for the real estate market. The winter is actually a great time to sell a home because inventory drops off and home prices rise as a result.

If you're thinking about selling your home during the fourth quarter of this year, please don't hesitate to contact me. I would be happy to consult with you about selling for top dollar!

Come Watch the RiverDogs with Us!

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Selling your Charleston home ? Get a free home value report 

Click here to RSVP by May 22nd with # of tickets!

If you're receiving this email then you are one of the special ones we've chosen to invite to RiverDog Stadium on June 5th. We've got 500 VIP seats set aside for friends and family of the Jeff Cook Real Estate team. 

This is our way of thanking you for your referrals, telling people about our service, and generally helping our business to succeed. We would like to take this opportunity to thank anyone who has ever worked with us, because we wouldn't be here without your support and patronage. 

Once again, this will be taking place on Friday, June 5th, and there will be a big fireworks display. If you plan on attending, please click the RSVP link below and let us know how many tickets you'll need (we're fine with giving away multiple tickets to one person). 

What Loan Products Are Available in the Charleston Area?

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Selling your Charleston home? Get a free home value report

Today, mortgage expert Todd Sevier joins us again to dig deeper into the lending process. Today he answers: What's the difference between a fixed-rate mortgage and an adjustable-rate mortgage?

A fixed-rate mortgage means that the rate you lock in when you are granted a loan remains the same for the duration of the loan. Some things, like taxes and insurance, can change over time, but the majority of your mortgage payment (the principal and interest) will never change. The most common loan is a 30-year fixed-rate, but you can also get loans for shorter periods.

An adjustable-rate mortgage is typically going to have a lower start rate that will be fixed for a period of anywhere from 2-10 years. In that time frame, the rate will adjust. It can go up or down, depending on where the market is at that particular time. A rule of thumb when getting an adjustable rate is you should know what your future plans entail. If you get an adjustable-rate loan that will change in five years, do you plan on selling by then? If so, that loan may be a great option for you; if you're planning on living in the home for a longer period of time, you want to get a fixed-rate loan.

If you have any specific questions about this topic, or if you need real estate assistance of any kind, don't hesitate to reach out to us. You can reach Todd at (843) 408-0856 or by email at Todd@scmtgpro.com. We would love to hear from you!

What's the First Step of the Lending Process?

Buying a Charleston home? Get a full home search

Selling your Charleston home? Get a free home value report

Today, we're excited to have our friend Todd Sevier of ResMac Home Loans join us today to discuss the current state of the mortgage market.

The first thing people ask when it comes to buying a new home is how much they can actually afford. The primary things lenders are looking at are credit, income, and assets. An ideal credit score would be above 600, and the lender will also check to ensure you haven't had any foreclosures or bankruptcies in the recent past.

When looking at income, they will check to ensure you have a stable job and are current with all your payments. Also, your lender will check to make sure you have the available assets to put forward as a down payment if you are able to obtain the loan.

If you would like additional information about the mortgage market here in Charleston, or if you would like real estate assistance of any kind, don't hesitate to reach out to us! If you would like to reach Todd directly, you can call him at (843) 408-0856 or email him at Todd@scmtgpro.com. We would love to hear from you!

Come Join Us Here In Paradise!

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Selling your Charleston home? Get a free home value report

 

Today, I'm coming to you from sunny Charleston, South Carolina.  It's pretty quiet and calm here, and the weather this week is supposed to climb up to 80 degrees! I really enjoy the climate here, but I do also like it when it gets cold up north, because people often flock here to escape the harsh weather, and that helps our real estate market to run year-round! 
 
This is why we sell a lot of homes in the winter. In fact, since December 1, over 500 people have moved Charleston. While many areas in the Northeast have had record-low temperatures and record-high snowfall, we haven't had a single drop of snow here in Charleston this winter!

Today we have our Buyer Specialist with us, Rachel Spence, and if you're thinking of making the move towards a warmer climate, then she is the person you need to be speaking with. Rachel will talk to you about your needs and desires, and she can then find a great part of Charleston for you to live in. She knows great loan officers that can help you find the appropriate financing.

Please contact us if you're interested, because we have some properties that are not listed on the MLS that we would like to show you. These are great homes that have little-to-no competition.
 
If you want to escape the cold and move to the Palmetto State, give us a call or shoot us an email. We would love for you to join us in paradise!