Betty Poore: What's New on the Charleston Coast Blog

I think this may be one of the best articles recently written on why it is the best time to buy real estate. Full of facts, not fiction - a must read for buyers who have been waiting, waiting, waiting. To read the article in full click here.

Labels: betty, buyers, Charleston Coast, real estate, Wall Street Journal

I guess we all knew it, but now the world is in on the secret! Forbes has listed Charleston as one of the world's smartest cities. To read more about it, click here

Labels: betty, buyers, Charleston, Charleston Coast, cities, Forbes, kiawah, seller, smartest

This month's E-Newsletter has a very timely article for those of you thinking of selling your property. Come to think of it, it may be helpful to some sellers as well. It's called "Don't Let An Over-priced Home Be a Humbling Lesson." To read it click here

Labels: buyers, home prices, homes, seller

I don't know if any other Realtors are experiencing this or not but all of a sudden I have buyers looking at property, both investment property condos and villas in the resort areas around Charleston) and residential property...this for families that are moving to the area on a permanent basis.

Not only that, I am experiencing a lot of activity on some of my well priced listings. Guess I may have just answered my own question.

Labels: buyers, Charleston Coast, condos, homes, listings, prices, real estate, villas

I came across a very interesting article in today's Wall St. Journal (here's a link) about some developers offering an alternative to purchase incentives. Here's a brief excerpt, which gives you some idea of this new marketing tactic:

"The latest strategy for selling homes isn't to give something to potential buyers -- it's to ask buyers to give something back. In a shaky housing market that continues to be wracked by credit turmoil and rising foreclosures, developers and builders have been piling on incentives like free basement upgrades, and adding showy events like wine tastings. Now, they're hoping that home buyers jaded by self-indulgent amenities will be impressed by activities that have more depth."

Pretty interesting. What do you think? What kinds of things motivate you?

Labels: buyers, incentives

Pendulums swing, said Roger Miller in a song Mark remembers (not me; I'm too young). That's sure the case when it comes to the real estate market.

In all my years I don't think I've seen a buyer's market quite like this one. It's not desperate, at least not here in the Lowcountry, but among sellers it's quite active. "Should we lower the price?" "How can we stand out?"

One of my sellers recently lowered her price by almost 10% AND promised to guarantee rental income next year. She's not desperate, just opportunistic, she says. "The home has appreciated significantly over the years. Now I want to sell it. I have a different investment objective now," she says.

"Buyers pounce as homes go on the block" is the headline of an article in today's New York Times. Yes, I think buyers are making a comeback. And many sellers are welcoming them with open arms.

Labels: auction, buyers, sellers

As Mark talks about a downturn in the home furniture business, I consider the statistical reports of new home inventory levels. (My life really is more interesting than it sounds.)

"New home sales plunged in August," says the Commerce Department in a New York Times report. And prices dropped on average 7.5%, "the steepest monthly price drop since December 1970."

What's it all mean? Obviously, motivated sellers are nervous, but we're coming up with some innovative ideas to help them. The best market I've seen in a long time for investment buyers is upon us, and more and more of my longtime clients are showing some interest.

Statistics tell the story, I think. We may have reached the bottom. It's a great time for bargains.

Labels: buyers, sellers, values