There’s no better way to score really big in real estate than with Charleston foreclosures. It’s the number one way to buy property at prices significantly below the appraised values. This type of deal doesn’t come around very often so you should be giving serious thought to investing in real estate at this time. If you think you can’t afford it, you might want to think about it again.

Banks and other lending institutions are inundated with properties that have become Charleston foreclosures when mortgage holders default on their loan. These Charleston foreclosures are being sold at far less than their appraised value so the lending institution recovers its original investment.

Many of these properties the homeowners simply walked away from, leaving behind pristine turnkey ready homes. These are golden real estate opportunities for you to purchase second homes, vacation homes, or investment property to use as rental income. Charleston, South Carolina, is a popular place for vacations and with the large influx of visitors the business district brings in, vacation rental properties are easily kept full.

Charleston is both a beautiful place to visit and an awesome place to live. In 2011, Travel and Leisure Magazine named Charleston "America's Sexiest City", as well as "America's Most Friendly." Subsequently, Southern Living Magazine named Charleston "The Most Polite and Hospitable City in America." And that, my friends, pretty much says it all.
 

Once your loan preapproval is behind you and you’re looking at Charleston condos, in a short time you will find a property that you want to buy. The offer is the first step in the negotiation process. An appropriate offer includes the price you're offering to pay for the Charleston condos that you want to purchase, your financing terms, and any contingencies.

Begin with a realistic offering price. You want to come up with a price based on similar Charleston condos sold in the neighborhood in the past six months. You'll also want to keep the local conditions in mind. In other words, if houses are selling quickly and many houses are receiving multiple offers, you'll need to bid competitively. Higher bids will take priority and get noticed.

The second option to include in your offer is realistic financing terms. If you're pre-approved for a loan, be sure to include that in the offer so the seller knows you're serious.

And finally, include a Charleston condos property inspection clause. This gives the buyers and sellers a certain amount of time to either fix what needs fixing, agree to proceed without having it fixed, or allowing the buyer to walk away with his deposit (but not his property inspection fee). Property inspections are critical for peace of mind and if a bank is providing a mortgage they will require one be done.

Most offers include a deadline for a response, perhaps three days. Counter offers often have 24 hours to respond so be able to be reached during this critical time. Everything needs to be put in writing. Don't rely on verbal agreements for anything.
 

So you’ve found the perfect Awendaw real estate but you’re not sure if you have what you need to purchase? Determining whether you're ready to buy a house can be a daunting task. Here are 5 indicators that will tell whether you're ready to take the plunge on that South Carolina Awendaw real estate.

1. You are familiar with the market. If you have a realistic view of how much a house will cost you, you're in good shape.

2. You have the money for a down payment. Freddie Mac says the percentage will be determined by the type of mortgage you select. Down payments usually range from 3 to 20 percent of the property value.

3. Know how much you can afford. Your monthly mortgage payment should be less than or equal to a percentage of your income, usually about a quarter of your gross monthly income.

4. Fully understand what additional expenses will come with owning a home. This includes homeowner insurance, property taxes, utility bills, and maintenance costs such as roofing, plumbing, heating and cooling.

5. Have good credit and make sure your credit report is accurate. You should get a report from each of the three credit reporting companies: Equifax, Experian, and Trans Union.

When you’re ready to make the plunge on that Awendaw real estate give me a call and I’ll be happy to help you with all of the purchase details.
 

Buying real estate is one of the most important decisions you will make in your lifetime. It's important to remember not to get carried away by your emotions when purchasing Charleston investment property. Making a decision on investment property requires sufficient time to know what you're going to get and what you can expect in the future for this property.

Plan ahead. Did you know that many people plan their purchase of Charleston investment property for sometimes more than a year? The experts recommend planning ahead at least three months and taking into consideration the factors including interest rates in your location that might affect your buying decision. It's beneficial to always be on alert with regards to newly-listed properties in the best neighborhoods and in the locations that you can afford.

Consider the location. You have probably heard this many times but location is very important. This means you will have to find property in a good neighborhood that is easily accessible to the grocery store, utilities and schools. Doing this will give you a good return in the event you want to sell the property in the future.

Determine your budget. The financial aspect is an important consideration. You need to set a budget for the Charleston investment property you're targeting to buy and not just the mortgage. Project your long range costs so you can set a specific budget.

Consider your situation. Assess your situation very well. Are you selling your existing home and buying a new one? Do you require certain features in a home that will make it easier to do your work or business? Is this property going to be used as a vacation rental or used as your primary residence?

Work closely with your agent so you will be able to make a guided decision. Remember, take the time to plan ahead so you will know the right time to buy that investment property you desire.

From our family to yours, we'd like to wish everyone a Very Merry Christmas!
 

According to the readers of Conde Nast and Traveler Magazine, Charleston has just recently been ranked as the top travel destination in the United States. Coming in at number two on last year’s list, the top spot for the city is quite an accomplishment, when you start to think of some of the other great destinations around the country.

The beautiful city of North Charleston is the third largest city in South Carolina. It is a mature, gracious city, the balmy sub-tropical climate and coastal lifestyle adds to the quiet, low-bustle ambiance. No wonder that it is a popular destination for visitors and those looking to relocate to the south. North Charleston real estate consists of sprawling colonial homes and bungalows plus plush condos. New home communities are also popular and are being developed, contributing to the North Charleston real estate, while not conflicting with the quiet charm of the city. It’s a beautiful time of year to be looking at North Charleston real estate.

The area will be celebrating the holidays at the following venues.

Charleston Sleigh Ride
Dec. 8 – 10, 4:30 p.m., Dec. 15 – 16, 5 p.m., Dec. 17 – 31, excluding Christmas, 3 p.m. and 5 p,m.
Charleston Harbor, SC (843) 276-4203

Charleston Tree Lighting Ceremony
December 3, 2011, 4:30 p.m.-6:00 p.m.
Marion Square (843) 724-7305

Annual Charleston Parade of Boats
December 3, 2011
Charleston Harbor (843) 724-7305

The Low Country Singing Christmas Tree
December 9-12, 2011
Summerville Baptist Church (843) 873-2440

The Nutcracker Ballet
December 10, 11, 16, 17, 2011
North Charleston Performing Arts Theatre (843) 723-7334

Live Manger Scene
December 22-24, 2011
James Island (843) 795-3527
 

If you’re in the area looking at James Island real estate take my advice and check out the Holiday Festival of Lights on James Island. It’s a wonder to be seen for sure!
 
It’s the season for the Holiday Festival of Lights on James Island, South Carolina. See more than 500,000 lights illuminate the James Island Park in the evenings of November 11, 2011 - January 1, 2012. You can tour the Holiday Festival of Lights for $12/car then take a ride on the 54 passenger train for $3 each.

This is a great event made for the whole family! The Holiday Festival of Lights first got started in 1989. It’s since been a long standing Charleston event that many look forward to around the holidays. It really does fill the air with Christmas and all the holiday season brings. This 3 mile driving tour takes you throughout the James Island County Park with over 600 displays and 500,000 lights. It’s a splendid way for the entire family to get into the holiday spirit.
 
Admission is always affordable with the following; 1 - 15 Guests = $12 per vehicle, 16 - 30 Guests = $40 per vehicle, 31+ Guests = $100 per vehicle. Pretty good deals! Receive a $2 discount per vehicle with the donation of a canned food item to benefit a local charity Monday – Wednesday. Such a great thing to do around the holidays! Some other features at this years event are photos with Santa Clause, two gift shops, marshmallow roasts, musical concerts, carousel rides, an enchanted forest walking trail, and much more. Don’t leave before savoring some hot chocolate!
 
If you’ve found some James Island real estate you’d like to take a look give me a call. I’d love to hear from you!