Found 44 blog entries tagged as real estate.

Lowcountry Real Estate Market Report - July 2021

Posted by Paige Rose on Monday, August 16th, 2021 at 12:18pm

After months of declines, the inventory of homes for sale nationwide is beginning to increase as more sellers come to the market, looking to capitalize on record-high sales prices while providing a much-need boost of supply to America’s epic housing shortage. This is encouraging news for homebuyers, who have struggled with a lack of supply and rocketing sales prices during the pandemic.

Hilton Head & Mainland Real Estate Market Update - July 2021

For the 12- month period spanning August 2020 through July 2021, pending sales in the Hilton Head region were up 38.0 percent overall. Market-wide, inventory levels were down 59.2…

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When you are in the market to buy a house—or need to sell your current home—that is the time to use an experienced real estate agent. An inexperienced agent can cost you time and money, and unfortunately maybe even put you at risk of losing out on your dream home.

Gauging Experience 

Instead of asking how much experience an agent has, ask how many times the agent has renewed their real estate license. In Oklahoma, for example, real estate licenses are issued for three years, New Hampshire's term is two years, and California has four-year terms.

Search your own state's real estate commission—or equivalent office—website to find how long licenses last. Knowing how many times an agent has renewed a license allows you to…

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Ask the next ten real estate agents you meet to tell you the biggest reason why a deal falls through. The odds are every single one will say it’s because of financing, usually because of a low appraisal.

But the fact is, a low appraisal can be good (and bad) for a buyer and there are ways to salvage the transaction and get the property you want. 

In this article, we’ll explain the biggest reasons for a low appraisal, how to get the appraisal that matches the purchase price, and what to do if your home appraisal comes in low.

What is an Appraisal?

One of the common contingencies in a real estate purchase contract is that the property must appraise for the purchase price. A home appraisal is a report provided by a licensed professional that…

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Many people are sitting on the fence trying to decide if now’s the time to buy a home. Some are renters who have a strong desire to become homeowners but are unsure if buying right now makes sense. Others may be homeowners who are realizing that their current home no longer fits their changing needs.

To determine if they should buy now or wait another year, they both need to ask two simple questions:

  1. Do I think home values will be higher a year from now?
  2. Do I think mortgage rates will be higher a year from now?

Let’s shed some light on the answers to these questions.

Where will home prices be a year from now?

If you average the most recent projections from the major industry forecasters, the expectation is home prices will…

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An escalation clause is language inserted into a purchase offer for a home that's intended to make sure a buyer is the highest bidder. It's typically used when a buyer and their real estate agent strongly believe a house will receive multiple offers.

An escalation clause states that the buyer will pay a certain amount of money above the highest offer the seller receives. It generally includes a ceiling cap to make sure the buyer doesn't agree to pay more money than they can afford.

 

Learn more about escalation clauses and how they work.

What Is an Escalation Clause? 

An escalation clause improves the odds that a home buyer will submit the highest offer. It typically includes three parts:

  • Proof of an offer: Sellers can only use the…

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A real estate transaction can be an emotional roller coaster, especially for first-time buyers. A home is not an everyday purchase—you’re buying your future, the place where your kids will grow up and a lifetime of memories will be made. And a house has a much higher price tag than anything else you’ve ever bought. That alone can be scary. The money and emotions make up a big cocktail of stress. A study commissioned by homes.com shows that first-time buyers find the process overwhelming;   

  • 1 in 3 buyers cried during the process. 
  • 2 in 4 experienced anxiety. 
  • 44% of buyers felt nervous throughout the process. 
  • The average buyer had four arguments. 
  • 2 in 5 described buying their first home as “the most stressful event in modern life.”
…

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The market is tight as inventory is low, and there are many buyers circling to get into the game. Right now it's fair to say that we are knee deep a “Seller’s Market” in the South Carolina Lowcountry and that one needs to be very savvy in order to have their offer accepted. 

There is an art to writing an offer and having a strong, knowledgeable Realtor makes all the difference. Coming in aggressively and locking down a property before multiple offers are presented usually lands you the best opportunity and the desired home. Dancing around the obvious might cause a purchaser to end up with their disappointing second choice. 

  • Go in knowing your bottomline and where you are comfortable walking away from the transaction without any regrets. Don’t…

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Historically low mortgage rates are a big motivator for homebuyers right now. In 2020 alone, rates hit new record-lows 16 times, and the trend continued into the early part of this year. Many hopeful homebuyers are now wondering if they should put their plans on hold and wait for the lowest rates imaginable. However, the reality is, acting sooner rather than later may be the actual win if you’re ready to buy a home.

According to Greg McBride, Chief Financial Analyst for Bankrate:

“As vaccines become more widely available and a return to normal starts to come into view, we’ll see mortgage rates bounce off the record lows.”

While only a slight increase in mortgage rates is projected for 2021, some experts believe they will start to rise.…

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We are almost to the new year, and most of us have been sidelined by some unexpected occurrences. This is a great time to set aside an hour or so of uninterrupted time to do a quick review of what you want to be different in 2021. Use this time to reflect and evaluate your goals and your progress and to plan.

 

 

Ask yourself the following questions:

REFLECT:

  • What have you accomplished over the past six months (goal related or not)?

  • What goals did you achieve or make progress on?

  • What are your 3 proudest accomplishments?

  • What goals were a challenge?

  • What opportunities to learn new things did you take advantage of?

  • What goals no longer feel relevant?

  • What mistakes did I make and…

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For baby boomers, the question of when—and where—they'll retire is a perennial topic of discussion. But with the novel coronavirus sweeping the globe, it has become an especially pressing question these days.

Many are feeling the pressure to ramp up their decision-making and act fast—between concerns over COVID-19 contagion, rampant layoffs, and new rounds of self-reckoning where they ponder "Why wait to realize my dreams?" Many believe that the time is now to make real estate decisions  they've been putting off—or they're changing course entirely.

Whether you're a boomer yourself or just paralyzed about your next move, these stories might inspire you to get unstuck, or at least realize that you aren't alone. Here's how the current coronavirus…

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