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What is a "Short Sale?"

A "Short Sale" is a transaction where the sales price for a property is less than the mortgage amount owed by the current homeowner and the lender or lenders agree to accept less than the mortgage amount.  In some cases, the differences in forgiven by the lender and in other cases the homeowner must make arrangements with the lender to settle the remainder of the debt.

What is a "Potential Short Sale?"

A "Potential Short Sale" is one where the listing agent reasonably believes the purchase price may not be enough to cover payment of all liens and costs of sale and the seller is unwilling or unable to bring sufficient liquid assets to the closing.

Why are Short...

Some of the mortgage companies have such a nice service of helping their clients; they set you up with a preapproval, select a Realtor for you, and send you on your way. Seems all nice and tidy doesn't it? They love it because it increases their profit margin, but what about the consumer?

As a Realtor, I find it distasteful for the mortgage company to provide so much to their client. I speak from experience after working with several relocation companies and one thing for certain; the client is not the one profiting from this. The banks have a financial incentive to send you through their own relocation department. They take 35% of the sales commission from your Realtor and give the clie...

We are almost through the first quarter of the year now and a couple of things have become very evident. Homes that are priced correctly are selling now and interest rates remain extremely good. The question now is not whether home prices are going to drop further but how long rates are going to be favorable.

Today’s rates and for the last thirty days remain between 4.5% and 4.85%.  These are historically low rates and that single factor makes renting ill advised at this point. You cannot rent for what you can purchase in today’s market. This is free market economy; buyer demand will increase simply because it makes sense to lock in your housing costs. The rental market continues to tigh...

Lets look at the facts, interest rates are still amazingly low, there are some beautiful homes available at prices not seen in years, the economy is showing signs of gaining ground. Every indicator is showing that Real estate is on its way back. If you are a cash buyer, you are really missing the boat right now. There are tons of properties priced insanely low because they won't qualify for a FHA or VA loan. That takes a large majority of buyers right out of the picture.

There is a way to get around property condition issues such as a 203k FHA loan, but many buyers and sellers are hesitant mainly because they have no experience with them. The process can be much longer and more red tape,...

One thing I truly love about my career is the feeling of helping people realize their dream. Helping a seller so they can get on with life, whether its relocation, downsizing or moving up, we help make it possible.  Finding the house that quickens the pulse of an excited buyer and helping them navigate the process, using my experience to avoid the pitfalls , and protect my clients.  provide them with the information they need to make an informed decision!

Information is key and there is so much available to buyers and sellers today, much like WEBMD, you can browse the internet and find a wealth of information and make a diagnose with the information you find. The problem comes with perce...

New year and hope springs eternal for the housing market!  All leading indicators suggest the economy moving in a slow gradual recovery.  The labor market is improving slowly and buyers are back placing orders for durable goods such as autos, and large appliances. The home market is a little more complicated due to the large inventory of foreclosed and short sale homes that continue to flood the market and hold down prices.  The word is, inventory in the Charleston market is at the lowest level it has been in years with 8,405 residential units ( including town homes, condos and Shared properties) and 6,025 single family detached homes available.

Homes that are priced correctly are sellin...

The home market is making its comeback. There may still be a few bumps along the way, foreclosures are still numerous, short sales still are taking a toll on sellers that want to protect their credit rating and any equity they still

But for a buyer, the time is now! The prices are at levels not seen in 7 to 8 years, interest rates are still very good and the forecast is that rates will be forced up due to the threat of inflation and as other investments start to look safer, money is diverted to other paths for those looking to increase profits and return for theirr investments!

As an example , a $  200,000 loan at a rate of 4.75% ( todays rate) would cost a buyer $1043.23 per month prin...

The buyers now have a new worry and maybe the sellers get a short window to sell.  The worry about whether that foreclosure may become a legal issue later on has reared its ugly head. It could happen that a buyer can buy in good faith only to be dragged into court a few months, or years later to defend a title because the mortgage lender that foreclosed did not properly research their documentation to insure that everything was in proper order.

The current allegations state that a few lenders quickly signed off on foreclosure papers without reviewing documentation. Leaving some doubt that all the proceedings were legal. We even have a new term coined "robo signing”, the allegation statin...

The big banks have decided under pressure to review documentation regarding foreclosures.

There may be a small percentage of the population that will applaud such an action.  But for the most part, this action will only further hurt the housing market, slow down recovery, and throw more doubt into any buyer’s minds that may be looking for a positive sign that it is OK to jump in and purchase the home they are considering.

The implications of Government using an election ploy to convince the general public that they really do care after all, rings hollow after two years of half hearted attempts to jump start the economy.

Politicians only know politics and their goal is simply reel...

To all those sitting on the fence that are able to buy but waiting. 

The housing market has been scary, there is no denying that fact but lets look at the facts.

Prices are as low as they have been in years, the home you want is out there waiting for you with a price reduction and a value that is lower then it has been since 2003?

Interest rates are at the lowest point I have seen in my lifetime with a fixed mortgage rate as low as 4.25 % , unbelievable rates to comprehend.  Couple those rates with the depressed values and the combination makes home ownership simply to good to pass up. It truly is much cheaper to buy then rent in this market.

Home ownership is a hedge against inflatio...

As we watch the news each day, the politicians all pointing fingers at each other and blaming the other guy for the economy, I can't help but shake my head.  The housing market is on life support right now and all seems gloom and doom!

The thing to remember is that Real Estate is real and viable, it provides shelter, comfort, and we make it Home!  It is not all about making a profit simply because we all need a home. The cost to build a home has increased simply due to the costs of materials, labor even the land values will appreciate again. As a wise man once told me " they aren't making any more land" is so true.

The  home values are stabilizing after the correction from the recent pa...

I hear from sellers everyday, they are considering moving up, scaling down or relocation and the question is always the same, is it a good time to make a move?  That really depends on your motivation! Why are you considering this move?  Job transfers are a fact of life and for there most part, we have very little choice in the matter. The Good news is that if you sell on a down market , you will most likely buying on a down market as well. Not a way to make a lot of extra cash at the moment but in these trying times, simply retaining any equity is a positive.

Maybe the current home is to big or expensive, it is still apples to apples! Selling on a down market means less in your pocket bu...

A true buyer's agent provides a tremendous advantage for a typical buyer. The agent that has toured hundreds of homes with scores of different buyers gains insight into the areas that you may be interested in.

A true buyer's agent has negotiated a hundred deals or more and has the experience to guide you through the process of finding the right home, and researching the value so your offer is more than a guess!  I have had several agents tell me, "Since it is a buyer's market, I always advise my clients to offer 10% under asking price!"  Great thinking unless that home is overpriced by 15%, then you pay too much or watch the deal crumble when the appraisal comes back low.

Even when you ...

The listing on your home has expired and your home did not sell.  It is a difficult time right now and we want to take a few moments to explain how and why we are different.  

We understand that today’s market can be tough for sellers.  We understand that market values have dropped.  For home owners that are in a position that they must sell their home, this is a challenging time and can be very discouraging.  We understand the dynamics of what you are going through. 

That being said, you will notice that we take a different approach than most Realtors in listing properties.  Our focus in today’s conditions can be summed up in one word: “Proactive”.  We would like to talk to you, ...

You are ready to sell your home...Now, how do you price it and why?

Many sellers like to price their home high with the expectation that they can always negotiate the price.

Seems like a good idea because it is a buyers market and you know that a full price offer is less likely!

Actually, overpricing your home in the beginning can hurt the bottom line when you do get that contract. The dangers are many, and short sited pricing will most likely back fire on you.

Your home may not be seen by that buyer that is in the market at the price point that you really should be at. Most buyers will look at homes that fit their budget, and Realtors will not want to show a home that is overpriced a...

It is time for you to sell your home and move on, whether it is for an upgrade, downsizing, that dream home, dream job, or whatever your motivation. You need to know that selling in a difficult market is a challenge that has to be met head on to be successful.

As a seller, you have to be painfully honest with yourself about the condition of your home and its value. You also will most likely need an experienced and dedicated professional to get it done. Your Realtor that you choose has to be honest with you about the market in your area and explain to you, in specific terms, what they are going to do to get your home noticed and show you a realistic price based on comparable sales of simi...

The Real Estate market can be a very confusing place in todays economy and buyers can easily get sidetracked and confused about what values really are in this market. There are so many things to consider before you sign the contract on that "DEAL".

Did you have a through market analysis of the subject property?

Are you contractually protecting your rights as a buyer?  Banks have a team of lawyers that write the contract you must sign.

Is the property in good enough condition to pass a VA or FHA appraisal?  They have different requirements than conventional loans!

Sometimes the foreclosed home is an unbelievable deal but there may be a reason that it is available as a foreclosure...Som...