Charleston AFB– Knowing if NOW is the TIME to BUY a HOME

Charleston AFB– Knowing if NOW is the TIME to BUY a HOME

 

We’ve all heard the saying “Sell High, Buy Low” – and this is obviously great advice.  The hard part is – knowing when the price has hit bottom……

Today we are seeing more evidence that the COST of a home in the Charleston AFB area, has in fact hit bottom.  Unless you are an all cash buyer, you must take into consideration the expense of financing a property to determine the true cost of purchasing the home. Interest rates have increased over the last quarter; and the rise in rates has counteracted any fall in prices.

 

For example:

In November 2010, the interest rate was 4.17%.  So a $200,000 Charleston AFB home would have cost you $974.54 per month (principle and interest).

According to a recent report from Case Shiller, house prices fell 3.9% in the 4th quarter of 2010. A recent report from the Federal Housing Finance Agency showed a 0.8% fall in prices. Let’s use the larger percentage decrease: 3.9%.

Today, let’s say the same Charleston AFB area house as above is now priced at $192,000 – but the interest rate is now 4.95%.  – SO your monthly payment will now be $1,067.54 (principle and interest).

By waiting to pay less for the PRICE of the house, the COST increased $93 a month. That adds up to $1,116 a year and over $33,000 over the life of the loan.

Bottom Line

If you want to buy low, buy now. It appears COST may have hit its lowest point.

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About Military Homes of Charleston
Military Homes of Charleston is part of Coastalina Realty of Charleston and is a full-service real estate team based in Charleston, SC.  We understand the appeal of living in Charleston and the challenges that come with moving to a new neighborhood or state. So whether you’re looking to buy a dream property or sell one, we can help.

Jodie Ford, Military Homes of Charleston
I specialize in helping military families enjoy a smooth PCS in and out of Charleston. I have a passion for helping people, and I love what I do. Call me and let me make this the easiest PCS yet!  Email Jodie 

Torri Jacobsen, Military Homes of Charleston
Buying or selling a home doesn’t have to be hard, but choosing the right Realtor DOES make a difference. I specialize in making first-time home buying a great experience for military families moving to the Charleston, SC area. Email today, and let’s make this your best move yet! You’ll feel right at home with me.   Email Torri 

Charleston AFB Real Estate, Charleston AFB Real Estate For Sale, Charleston AFB SC, Joint Base Charleston, Joint Base Charleston Real Estate, Military Homes of Charleston

**Information provided by the KCM Crew via www.KCMblog.com**

HOME FOR SALE - 1417 Grackle Ct, Tanner Plantation, Hanahan, SC

1417 Grackle Ct, Hanahan, SC Powered by Postlets

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This beauty in Tanner Plantation includes hardwood floors throughout the downstairs area.  The first floor includes a formal dining area, family room with fireplace, lovely half bath, and a huge kitchen that is sure to please.  

The kitchen is large and open, just perfect for entertaining, and includes a breakfast bar and eat-in area.  The kitchen also includes recessed lighting, crown molding, smooth ceilings, and you will love the ample storage provided by the upgraded cabinets.  Additionally, this kitchen boasts upgraded stainless appliances, including a gas range.  

The Master suite includes a tray ceiling and the Master bath has a jetted tub and separate shower.  The upstairs includes two additional bedrooms and another full bathroom, as well as a full laundry room.  Each bedroom has a walk-in closet.   

This home comes with a fully fenced back yard and is located on cul-de-sac, and you are sure to love Tanner Plantation living.  Close to everything - you will love nearby shopping and entertainment areas, as well as the neighborhood pool and playground. This house is located in one of Charleston's most desirable school districts and is convenient to both I-26 and I-526. Also close to Charleston Air Force Base and Naval Weapons Station in Goose Creek, SPAWAR, and BOEING. 

About Military Homes of Charleston
Military Homes of Charleston is part of the Exit Realty Charleston Group and is a full-service real estate team based in Charleston, SC.  We understand the appeal of living in Charleston and the challenges that come with moving to a new neighborhood or state. So whether you’re looking to buy a dream property or sell one, we can help.

Torri Jacobsen, Military Homes of Charleston
Buying or selling a home doesn’t have to be hard, but choosing the right Realtor DOES make a difference. I specialize in making first-time home buying a great experience for military families moving to the Charleston, SC area. Call (843-475-9313) or email today, and let’s make this your best move yet! You’ll feel right at home with me.   Email Torri or Visit Me On Facebook!

Jodie Hurt, Military Homes of Charleston
I specialize in helping military families enjoy a smooth PCS in and out of Charleston. I have a passion for helping people, and I love what I do. Call me and let me make this the easiest PCS yet!  Email Jodie 

Charleston AFB – Understanding Short Sales and Foreclosures

Charleston AFB – Understanding Short Sales and Foreclosures

All of us love a ‘great deal’….its no different when buying a home.  With the large amount of foreclosed properties and short sale attempts on the Charleston AFB market today – it’s a great time to get a great deal in real estate!

 

The National Association of Realtors (NAR) reported that on average, foreclosures sell at a 22% discount and short sales at a 17% discount.   Sounds like a deal to me!

But – you need to understand that deals like these can have a downside…..Most Charleston foreclosures are not move-in ready, and may need some extensive TLC.  Additionally, understand that title issues may exist which will need to be fixed before the transaction goes through. 

 

Short sales can take between 2 – 4 months, and in some cases, even longer.  Also, many short sales are sold “AS IS” as lenders are already taking a loss on the property and generally do not agree to requests for repair credits.  

 

I’m certainly not saying you should stay away from foreclosures or short sales – I just want you to understand that you will need to be patient and know that there may be obstacles along the way.

 

If you're serious about purchasing a Charleston AFB short-sale or foreclosed property, it's important for you to have expert assistance and LOTS OF PATIENCE!  But remember, your patience will be rewarded….as you will have paid 17-22% less for the home, and will have equity on day one!

 

About Military Homes of Charleston
Military Homes of Charleston is part of the Exit Realty Charleston Group and is a full-service real estate team based in Charleston, SC.  We understand the appeal of living in Charleston and the challenges that come with moving to a new neighborhood or state. So whether you’re looking to buy a dream property or sell one, we can help.

Torri Jacobsen, Military Homes of Charleston
Buying or selling a home doesn’t have to be hard, but choosing the right Realtor DOES make a difference. I specialize in making first-time home buying a great experience for military families moving to the Charleston, SC area. Call (843-475-9313) or email today, and let’s make this your best move yet! You’ll feel right at home with me.   Email Torri or Visit Me On Facebook!

 

Jodie Hurt, Military Homes of Charleston
I specialize in helping military families enjoy a smooth PCS in and out of Charleston. I have a passion for helping people, and I love what I do. Call me and let me make this the easiest PCS yet!  Email Jodie 

 

Charleston AFB Real Estate, Charleston AFB Real Estate For Sale, Charleston AFB SC, Joint Base Charleston, Joint Base Charleston Real Estate