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