New Listing in Belle Hall: $250,000 - 223 Historic Dr Mount Pleasant MLS 1106535Belle Hall Plantation
ONE MILLION FORECLOSURES IN 2010!Alans Listings
RealtyTrack, a service that tracks foreclosures in the U.S. reported that lenders foreclosed on 1 million properties in 2010, a record number since it started tracking foreclosure activity in 2005.
That's a huge number! It means that banks are now proud owners of 1 million homes which will come back on the market this year. In Charleston and Mt Pleasant, we are already experiencing an increase in the number of lender-owned (REOs) that are being listed. There are currently more than 400 homes listed as REOs, and this number is probably much higher, as some REO agents do not label their listings correctly.
These properties will be aggressively priced, since banks will want to offload the...Read Full Post →
Belle Hall Plantation Returning to a "Neutral" MarketMt Pleasant Real Estate Market
As of today, there are only 5 months' inventory for homes under $350,000 in Belle Hall (there are 22 active listings and we are selling about 4 a month). This segment of the market is now in what we call a "neutral" market, where both sellers and buyers are at a level playing field. If inventory drops below 5 months we will see prices start to creep back up, as it will turn into a "Buyers'" market...
See Belle HAll listings and recent sales at www.MyBelleHall.comRead Full Post →
Aaaarghh! I Just Can't Decide!!! Let Me Ride On a Helicopter...Buyers
Aaaarghh! I Just Can't Decide!!! Let Me Ride On a Helicopter...
As inventory increased in the years following the "sub-prime meltdown" and we switched from a "seller's market" to a "buyer's market", many buyers experienced MORE DIFFICULTY in making a puchase decision.
(OK, hold it, wasn't it supposed to be easier, now that there are more choices available...??)
The fact is that having MANY options sometimes OVERWHELMS buyers and causes BUYER PARALYSIS!
Buyers are comparing different types of homes (private sales, short sales, lender-owned, foreclosure auctions) that have different advantages and disadvantages, features. special prices, incentives and gimmicks.
To keep the buying proc...Read Full Post →