Terry Hardesty’s Blog

I’ve just sold a Resale - single family property at 251 Two Pond Loop in Ladson. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

I’ve just sold a Resale - single family property at 318 Sussex Ct in Goose Creek. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

Check out this new Resale - single family property that I just posted on my Web site. It is at 251 Two Pond Loop in Ladson. This Resale - single family property has 3 bedrooms and 2 baths. Move in ready! This contemporary open floor plan has all the extras you would want including fresh paint and brand new carpet throughout. The family room is open to the kitchen and features a vaulted ceiling and marble surround fire place. Sliding glass doors open to a patio surrounded by a cozy privacy fenced back yard that overlooks one of the duck ponds. The master bedroom has a large walk-in closet and is located in the back of the home. Ample storage in numerous closets and an extra large laundry area make this home a dream. The refrigerator, washer, dryer, and computer desk all convey.
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I’ve just sold a Resale - single family property at 301 Torquay Ct in Goose Creek. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

These are a things that actually happen so don’t laugh. Any one of these can kill your chances of closing, especially in this tighter credit market.

• Don’t omit any liabilities or debts from your application.
• Don’t make large deposits or withdrawals from you bank account without discussing this with your loan officer.
• Don’t co-sign any loans for anyone, even your Momma!
• Don’t change banks or close savings accounts.
• Don’t let the money you have saved for closing tempt you to go on spending spree.
• Don’t buy a car or other large purchase.
• Don’t buy new furniture…Buy it after closing.
• Don’t overuse your credit cards or get behind in payments.
• Don’t open new credit accounts - this originates inquiries to your credit.
• And for heavens sake Don’t quit or change jobs or become self-employed.

There are lenders in this market with money to lend.  You need good credit to qualify, just like old times.

Contact me if you need a mortgage provider.  I have several I can recommend.

Visit my website at www.findlowcountryhomes.com

You might be the victim of errors from your county tax assessor’s office and you can appeal their findings.  One of the most frequent errors that I encounter when researching property values is the heated and cooled square footage of the home and this can effect the value substantially.  Other factors that might differentiate your property from others is proximity to commercial areas, power lines, noisy roads, airports, etc.

If you choose to appeal gather all the facts you can before you proceed and be certain you can make a good case. Your Realtor should be willing to help you with current market values.  Please remember, the assessor can raise your assessed value if your home is actually undervalued compared to like property.

Congress has passed legislation to help the foreclosure problems we are now facing and to strengthen the overall mortgage market. One of the components is the 10% tax credit for first time home buyers up to $7500.00.  Is it a true tax credit - NO!  It has to be paid back over a 15 year period ( a little over $500 per year ). If you sell the home prior to the 15 year mark the remainder of the unpaid balance is collected at closing. So it is NOT a tax credit, it is an interest free loan you receive after filing file your tax return.

If you are, don’t forget to look at the very valuable VA guaranteed home loan program.  You get your loan through the lender of your choice and the Veterans Administration guarantees a portion to the lender. This reduces the lenders risk and gives you, the veteran, some valuable benefits:

• No down payment - great for first time buyers.
• Assumable Mortgage - could be worth thousands of dollars if interest rates are much higher than rates today if or when you decide to sell your home.
• No Mortgage Insurance Premiums - this lowers your monthly payment and allows you to buy more home with your payment dollar versus a conventional mortgage with less than 20% down or a an FHA loan.
• You are informed of the reasonable value of the property.
• Initial funding fee can also financed with exemptions for veterans receiving VA compensation.

I personally have used my benefit 3 times during my lifetime so I can attest to how valuable this can be, especially for a first time home-buyer.  If I can answer a question just call or post it on the blog.

Go Directly to the VA site Here!

–>–>Have you ever complained about problems with how your community looks, how there aren’t enough green spaces, too much overcrowding, sprawl, traffic?  I think most of have at one time or another just because we feel somewhat victimized that we have little input in how our communities are developed.  We depend on our elected officials and the staff hired by local government entities to protect us.  Too often it seems they are more tuned to developers than to individual homeowners.

Well here is a lifetime opportunity to make a difference.  I attended a workshop on June 26 sponsored by the Berkeley-Charleston-Dorchester Council of Governments and facilities by international planning and engineering firm HNTB. A very diverse group spent the entire morning looking at pictures of the low country and discussing how and why we liked or disliked them. We all had an opportunity to have input. You have the same opportunity!  Go to www.ourregionourplan.org and participate in the survey.  You can also sign up to participate in the all day session at North Charleston Convention Center on July 26 starting at 8:30 AM.

This event is intended to promote regional thinking and decision making not by another layer of government but by community input from all stakeholders.  By providing a common framework based on data from us we can have a much larger voice in how we develop.  As an elected Berkeley County School Board member and a Realtor I see rapid growth as both a management problem and an economic necessity.  I hope all of you take a few minutes and at least fill out the survey. Your input WILL make a difference!  Please choose to be part of a solution.

In general discussions among friends and clients I keep hearing the same questions about the proper time to buy or sell.  If you are thinking about buying a new home, NOW IS THE TIME!

Here are a five reasons that dominate in our local market today.

1. Available Inventory

In the Charleston , Goose Creek, Summerville, Mount Pleasant and surrounding area there are today, over 11,000 active listings for residential property.  Two years ago that inventory was about half of that amount.  This means you have a much better chance to find the home you dream about.

2. Less Competition

There are fewer buyers today, primarily because the inexperienced short term investors have left the buying market and entered the selling market.  This means you can take more time to search and not have high risk of getting caught in a bidding war for the home you want.

3. Motivated Sellers

Many sellers today are willing to negotiate price, terms, mortgage buy downs, repairs, updates, possession prior to closing, and bonuses such as furniture, cars, boats, etc.  Those that have to sell for any number of reasons know that buyers are a precious commodity in this market.

4. Interest Rates

Rates are hovering just above historic lows. Recently they have increased slightly so now mat be the best opportunity for some time.  If you buy now at good price you can always refinance later if rates become favorable.

5. Commuting Costs

With gasoline at record prices the distance you travel to and from work, shopping, and family activities can be significant.  Buying in the right community can save big bucks.

There are many more good reasons.  If your not sure about your particular situation just contact me and i will do my best to help you make the best decision for you.