What's going on today?

The summer proved to be quite busy.  In real estate, that's good thing.  Our Columbia market has been so sluggish over the last year and a half, that we needed to get some energy shot into our economy.  As we were all doing all the usual summer activities...beach trips, July 4th celebrations, day camps, Bible school, swimming lessons... there were also buyers actively out and looking at homes.  And, buying them.

Rates continue to hover in the 3's, which still blows my mind every day!  Buyers and sellers are coming together so that job transfers can move forward, downsizing can occur, moving up into the bigger house can occur.  In short, our market is moving and that's good for us all.

So, what's up right now?  Dottie & I have some really great homes listed and I thought I'd share a few of them.  Even if you're not in the market for a new home right now, you may work with someone who's thinking about it, your cousin may be planning a wedding soon, a friend might be contemplating making a change.  You never know who you know who is ready!  One thing is for sure...we are ready for them.  We appreciate your referrals and your business.  When you need us, we're here.

502 Ivy Green Lane, Irmo SC

 

This is a 3 bedroom patio home in the Ivy Green neighborhood in Irmo.  The master suite is on the main level and features a walk-in closet & private bath.  Bedroom 2 is on the front of the house, allowing for privacy and separation from the master.  Bedroom 3 is upstairs, making it very private.  The great room features a vaulted ceiling, open dining area and access to patio and courtyard sized backyard.  The backyard is privacy fenced.  Just enough room to plant flowers or maybe some vegetables but not enough to require lots of work!  The kitchen is galley style with a open window into the great room so it doesn't feel separate from the rest of the house and all the goings-on.  As you can see from the photo, it does have a one car garage that also contains a storage closet and pegboard for organizing.  A great buy at $119,900.

104 Marabou Drive, West Columbia SC

 This is a great home located in convenient Westover Acres.  It has had many upgrades and improvements such as custom tile in kitchen, refaced cabinetry, updated lighting, updated bathrooms, new windows, gleaming hardwood floors, Corian countertops and smooth ceilings.  Features include a formal dining room, large great room with fireplace, breakfast nook, pantry, bonus room over garage and large laundry room.  All bedrooms are upstairs and are very spacious.  The master suite features a handsomely updated bath and shower, and a walk-in closet with organizers.  The sellers had the home professionally decorated by a local designer.  Colors are stylish and will appeal to just about everyone!  Outside, you'll enjoy a large stamped concrete patio (perfect place for a hot tub!), a detached garage/workshop with electricity and fenced yard.  This beautiful all-brick home is a steal at $199,900.

2806 Pickett Street, Columbia SC

 Historic Melrose Heights!  If you love old house charm but also enjoy modern conveniences, this is the house for you.  Renovated to the hilt and ready to move right in.  The house features 3 bedrooms, 2 full bathrooms, new custom designed laundry room, granite counters, updated kitchen, ceramic tile, stainless appliances and maple cabinetry, a beautiful formal dining room with transoms & built-in corner cabinet, living room with gas fireplace and wonderful built-ins,and  hardwood floors. It's fabulous on the outside too!  Fantastic front porch, fenced newly sodded backyard, patio, and detached 3 car garage.  I know, a 3 car garage downtown??  Yes, it's true.  Garage has 3 car bays, serves as an excellent workshop and has electricity.  And, as another super bonus, the seller installed closed cell insulation underneath the house, so energy efficiency is much better than you'd expect in an older home.  So much to brag about on this great house.  Modestly priced at $259,900.  

These are just a few of the quality homes we have available.  Please remember, we are a full service brokerage and a full service realtor team.  We'll take you from Lexington to Blythewood...whatever meets your needs and gets you where you want to be.  Give us a call or shoot us an email if you'd like to start talking about the Columbia market and what we can do for you.

Until next time...

They don't build them like they used to!

It's true.  "They" don't build them like they used to.  (You know how "they" are.) Think about it for a minute.  Appliances are built to be disposable, no one even knows what a fountain pen is anymore, houses are made of plastic and cars have bumpers made of styrofoam. And, when you're lucky enough to come across something from the good ol' days, you want to seize the opportunity, right?

Well, take a look at this:

5923 N. Trenholm Road

   This is a classic Forest Acres brick ranch.  What does that mean to you?  It means all four sides are brick, the floors (except kitchen, den & baths) are hardwood, the rooms are large, it has a formal dining room & formal living room, an enormous kitchen and it's on a nice, large lot.  This particular home has been owned by ONE OWNER and has been meticulously maintained. Add your personal colors and designs and it's move-in ready.  

And, remember I said it's in Forest Acres?  That means you will be only minutes from Trenholm Plaza, fine dining, casual dining, churches and temples, Forest Lake Country Club, downtown Columbia and Fort Jackson.  Some of Columbia's nicest restaurants are in this area, as well as unique and fine clothing stores.  Everything is right at your fingertips!

Want to know more?  Please contact us and we'll answer all your questions.  We can be reached at 803/454-3504, or Webbers@DottieWebber.com.

Palmetto Heroes

The Palmetto Heroes Program is kicking off!  This is a program provided by a joint effort of the SC State Housing Authority and Homeowners Mortgage.  The scoop?  It's a loan program targeting police officers, firefighters, veterans, nurses, teachers, EMS professionals.  There are two categories of down payment assistance:  $5000 given to the borrower for down payment, one plan is forgivable over time, the other repayable over time.  And, the rate is gold!  3.75%  Yeah, you heard me.  

This program is outstanding and it's ripe for the taking.  If you, your spouse, your friends, your family members are a Palmetto Hero, have him/her get in touch.  This is a pretty phenomenal opportunity! 

This is Kelley Hunt: she is the expert!

Blessed Activity

Spring has definitely sprung here in good ol' Columbia, SC.  All of the things we have come to expect:  azaleas blooming, green grass, everyone coughing & sneezing from the pollen (!), outdoor parties, boat rides and THE SPRING REAL ESTATE MARKET!  Traditionally this time of year becomes busy for those of us in this industry.  As the weather warms up and flowers begin to bloom, people's thoughts turn to change, upgrade, expansion, something new.  We start to see more cars driving slowly through neighborhoods, website visits go up and people get actively engaged in the market.

Thankfully, our Columbia market is showing signs of Spring activity!  Trust me...for us and our seller clients, this is extremely welcome news.  And, for buyers, it's ideal.  Inventory is up, rates are down, mortgage companies have grant money to give away, the counties have money to give away, even the Feds have money to give away.  Who doesn't like free money?  Just since April began, showings have increased dramatically which is important.  It means that buyers are paying attention.  They are seeing how great the conditions are for them to buy now.  (Remember the old Wall Street adage:  Buy low, sell high.)  It's a good sign that our local economy is beginning to move, which can only lead to improvement.  Statisticians, economists and other math-y type folks always say that housing is the catalyst to repairing a suffering economy.  

What's my message?  Despite what we've talked ourselves into or let others talk us into, this IS a great time to buy a home.  That in turn makes it a great time to sell a home.  If every person reading this post were to encourage one friend, family member, or co-worker who has been contemplating making a move to act and take advantage of these awesome conditions, you know what?   We would all be taking an active role in improving our local economy, which will then help improve our state's economy.  Pretty monumental impact just for making a phone call or having a conversation, huh?
 

Interest Piqued

So, my post on Facebook yesterday got some attention:

 If you've been on the fence about buying a new house, maybe this will help. 4-1 matching funds that you use to make your down payment bigger, loan amount smaller, and you DON'T HAVE TO PAY IT BACK.

I think some people thought I was joking, but some were genuinely curious. Well, I'm not making it up.  My long-time loan officer of choice at Homeowners Mortgage has had this program for the last few years, but not many people know about it.  In the past, it was a program designed for and restricted to 1st time buyers.  This year, there are 3 types of loans: one for 1st timers, one for everyone and one for foreclosure purchases. So, what are we talking about?

Homeowners Mortgage applied for and was awarded grant funds to use as down payment assistance for homebuyers.  It's a 4-1 match up to $5,000, for those who qualify, of course.  Now, let's break this down.  

• If you have $1375, the match provides $5000.  So, you now go into the transaction with $6375. 
• The higher your down payment, the less money you borrow.  
• The less money you borrow, the lower your monthly payment.
• The $6375 can be applied to your down payment, your closing costs and/or your pre-paid items.

YOWZA!

Now, if you've bought a home before, there's still something for you.  You get the same 4-1 match up to $5000, but there are specific "targeted areas" in which you must buy.  In the downtown area, Rosewood is one such area, for example.  All rural areas that qualify for the USDA Rural Housing Financing programs are eligible as well.

 

Lastly, if you choose to buy a foreclosure owned by a bank that is one of the Federal Home Loan banks, you can share in the joy as well.  This program provides the same 4-1 match, but you foreclosure lucky ducks have a maximum of $15,000.  Did you read that carefully?  $15,000.  That's a lot, folks.

 

Now, please note:  I am not the loan officer nor am I the end-all-be-all on financing details.  That's where Kelley comes in.  She and Dottie & I have been working together for many, many years.  Kelley is experienced, she's knowledgeable, she's efficient and she stays on top of her game.  And, she'll be happy to talk to you about your specific circumstances and how these programs may work for you.  Remember, the rates are still at an historic low.  I don't think it can ever be any cheaper to borrow money.  If you want to explore the options and take advantage of the conditions this economy has created, contact me and let's get the conversation started.

 

Oh...did I mention these programs can be combined with the counties' down payment assistance programs?  (Hint: that means even more money could be available to you.)  Call me @ 803/454-3504.

 

Spring's a-Poppin'

Spring is a welcome time for everyone.  Saying good-bye to winter, hello to flowers and green grass.  With the exception of the pollen, spring might just be the most loved season of all.

Spring is also a great time for homebuyers.  Homes are spiffed up and ready to be shown.  Right now, rates are still amazingly low and one lender in particular has grant (gift) monies to be given away at a 4-1 match.  That's free money!

Feast your eyes on this great new listing.  It's in great shape, in a conveniently located neighborhood and is full of updates.

Westover Acres, West Columbia SC

Beautiful kitchen with ceramic floor, backsplash, smooth top range, & breakfast nook

Large master with updated shower and custom designed organizers in walk-in closet

Large FROG (finished room over garage)

Workshop with electricity & one-car garage bay

 This home has so many wonderful features such as architectural shingles, new windows, Corian countertops, fireplace, formal dining room, updated lighting and a new attic fan.  Conveniently located near medical centers, shopping, dining, Interstate 26 and downtown Columbia.  A solid value at $220,000.  Please contact us for a showing appointment.  803/454-3504

Don't Bother?

I have a client who is interested in a house that is subject to "third party approval."  This means the house is on the verge of foreclosure and the seller is hoping for a short sale.  What does "short sale" actually mean?  It's when the seller owes too much or the market will not bear enough to satisfy his mortgage.  Therefore, the seller's lender(s) have to agree to take a "short" when/if the house sells.

This process is nothing new, but since the U.S. economy entered this period of funk and dysfunction, short sales have become more common as a means to help avoid foreclosure.  After all, banks don't want to hold properties and to go through a foreclosure costs them dearly (thank you lawyers and your unbridled passion for billing!)

So, my client is interested in this home.  Her permanent home is in another state, but wants a second home here.  That means she has time on her side, no urgency, no house to sell.  And, she wishes to purchase in cash, meaning there are no financing contingencies and closing can take place in a matter of days, weeks, whatever.  Before proceeding, I contacted the listing agent to inquire if there are any additional forms I need to present with the offer.  And do you know what he said to me? 

"Don't bother." 
  Click here for shock and awe!

What?  He proceeded to explain that six weeks ago he received an offer which has been with the lender all this time waiting for a response.  He didn't want the buyer who wrote this offer to lose out because he/she has been so patient.  Again, what??  

I politely reminded him that if my client wants to write an offer, BY LAW, I have to write it.  And, if I forward that offer to him, BY LAW, he has to present it to the lender and seller.  That's right, folks.  South Carolina law states that real estate agents must present ALL OFFERS to the seller, even an offer that is presented after the seller has already accepted one.  A real estate agent is NOT empowered to make decisions for his/her client.  So, as soon as I brought this fact to light, this agent began to sing a different tune.  Problem is...I'm not sure if I trust him after he said that to me.  

I also pointed out that short sale procedures tend to take a long time because the bank is evaluating not only the shortage they can accept, but also the buyer and their stability,.  I'd be willing to bet that they would be interested in comparing this existing offer to a cash deal that can close at any time.  I'd be willing to bet on that all day long!

Call me a "goodie two-shoes" but the lesson here is that you must protect yourself by choosing a Realtor(r) who not only has experience but who knows the LAW in your state.  I'm a rules player.  Rules and regulations exist for a reason and we all must follow them for everyone's protection.  Continuing education, being active in the marketplace and doing things right the first time are vital to providing the client the service that they deserve and that they expect. 

Elmwood Park bungalow

2222 Clark Street

Elmwood Park is one of Columbia's oldest neighborhoods.  Often, when people visit Columbia or move here from elsewhere, we get questions like "Why aren't there any Antebellum homes here like in Charleston?"  The short answer?  Because Sherman didn't march through Charleston burning everything in his path.  So, most of our old neighborhoods went up in smoke. 

Consequently, Elmwood Park is a beautiful, historic area that is highly desirable. Its architectural detail and style is unique and full of flavorful character.  So as you can probably surmise, finding a home available for sale in Elmwood Park can be difficult.

Enter this little beauty on Clark Street.  It features classic bungalow design with charming Southern "robin's egg blue" style.  The main level includes the formal living room with smooth ceilings and crown mouldings, updated kitchen, dining room, casual den, half bath, master suite with private bath which includes a corner whirlpool tub and bedroom #2.  

 

Upstairs, you'll find the 3rd bedroom, full bath and a bonus room that is great as a craft or media room.  Since it has no closet, it's not considered a bedroom, but could certainly serve as a guest room.  

Enjoy quiet time or entertaining on the large front porch or out back on the deck.  Most of the backyard is privacy fenced and offers a peaceful retreat. The neighborhood is minutes from the downtown district, dining, shopping, entertainment and access to the Interstate.  This is a great opportunity for you to move into this fantastic old Columbia neighborhood.  Get in touch and we'll give you a personal tour!