Buyer in new home

Hello everyone, My last post regarding my troubles finding a precious buyer of mine the home of her dreams is long over due for an update! October 2008 we settled on a home to rent for my client. We continued to look for a suitable home for another 5 months. We finally found a home acceptable to the buyer! We closed on the home late in April of 2009. What a journey! The journey began in my neighborhood of MacLaura Hall located west of the ashley.

I had found a buyer for this clients current home mid year 2008 and began the search for her a home then.

It was the most interesting time of finding a home for someone I have ever experienced! Even with the prices of homes having dropped recently the availability of a home that met her criteria was limited..she needed a large home with a large lot and required formal rooms of a particular size along with a nice sized family room..the dining room seating area must not be visible from the kitchen and the location of the home had to be so many minutes from particular geographical points that were important to her lifestyle.

I never laughed more or had more challenges in selecting the home that would be best for a client. In the process I have made a friend for life and have been enriched by the process!
I look forward to my next great buyer adventure!

yours truly,
Liz Dettrey

Welcome Erica Schaffer to our sales team!!

We would like to welcome Erica Schaffer to The Elizabeth Group's sales staff. We needed someone who knew the Hollywood, Ravenel, and Yonges Island territory. Erica is from Ravenel and has lived there all her life. She has over 10 years of sales and management experience and brings a wealth of information to our staff. Erica will focus on home and land sales. She and her husband and two children live in Ravenel and are currently in the process of building a new home in that area as well.
We look forward to taking advantage of her knowledge about these growing areas. To learn more about Erica click on her profile in our website which will give you all her contact information.

Looking for ways to save money?

In this market we are all trying to find ways to cut cost. Just remember first impression is very important. The entrance to your home is the first place people see, keep it clean and clutter free. Paint is one of the most inexpensive ways to brighten up your home. You can spend under $100 at TJ Maxx or any other discount store and purchase a few new towels and a shower curtain to give your bathroom an updated look. In the kitchen keep the counters free from clutter and again buy a cute towel for the stove rack with a nice candle.

Not to sound funny guys but smell is another over looked by sellers characteristic of your home. "Fluffy" may smell fine to you but if your buyer is not a pet owner this may be a turn off. Smokers..you may want to keep it outside and keep those plug in air fresheners handy. Linen smells nice..not too much but just enough. You just want clean not strawberry...

Just a few things on my mind today that I thought I would discuss.

One more thing, if you have vacant land for sale in charleston or anywhere for that matter, make a trail through the property so the potential buyer can see what they can do with the property. Highlight trees with getting rid of the underbrush. You don't know how many vacant properties I have shown where all we can do is drive by it or walk through thick brush..this may be fun if your into that, but most buyers want the viewing to be easy, so make a trail! I have resources if you need help.

Free market analysis are always available, just send me an email with your address and time frame for sales.

Have a great day

M-

On Monday, the government announced that it will use up to $250 billion of the $700 billion rescue fund to make equity investments in a wide range of financial institutions. Their purpose is to inject capital into the banking system and encourage lending. Many other countries have taken a similar step. This, along with the other government actions, seems to have increased investor confidence in the banking system, and conditions in the credit markets showed signs of improvement during the week. Equity markets were extremely volatile this week, and the stock market ended with moderate gains. Mortgage rates moved in a very wide range during the week as well, but finished the week nearly unchanged.

In a speech Wednesday, Fed Chief Bernanke suggested that the key tools to "confront and solve" market problems are now in place. He emphasized, though, that financial markets and the economy may take months to recover. Many investors had expected that the rescue plan and other government actions would have a larger immediate impact. Now the general outlook is for economic growth to remain weaker than normal until at least the middle of 2009. Bernanke added that he expects the inflation rate to decline due to a slowing economy and lower energy prices, which would be good news for future mortgage rates.

Existing Home Sales will be released on Friday.

What's the Good news for my real estate goals??

We are all aware of the market conditions that sellers and agents are trying to stay positive about. We also know that markets ebb and flow, and it’s simply a matter of time before real estate takes an upswing again. In the meantime, we must all adjust our strategies to deal with today’s challenges. Here are just a few tactics to adopt and positive points to remember and practice.

A down market is ideal for the bargain buy, the opportunity to buy low. In short, a buyer’s market. For instance, for homeowners who are looking to sell their home and buy into a more expensive niche, a down market is the perfect timing. Interest rates are at an all-time low, which will save you money (potentially thousands) on your mortgage payments.

For sellers, first impressions last a lifetime and the term "presentation is everything" has never been more pertinent. Home buyers are always attracted to clean, spacious and attractive houses, but it has never been more critical to ‘wow’ buyers and make them fall for the property. Thus, curb appeal (through staging) can be a deal clincher.

Boosting appeal, of course, can take investment—again, now more than ever. Ratcheting up desirable qualities and amenities can impact as much as impressive square footage, and can afford a slightly higher asking price. So it’s worthwhile to put some extra money into the house before putting it on the market.

Do not overprice the home. In a down market it is a solid strategy to list the property approximately 10 percent under the expected price. A recent pre-listing appraisal can supplement the market analysis your professional real estate agent provides for you. In order for you to know the real time market value, your appraisal should be no more than 3-6 months old, as our market values are changing everyday. If properly priced, the potential exists to receive the expected sum, or close to it, because a relatively lower price can tend to garner multiple offers. Always communicate your expectations with your agent. Have a great day!

The hunt continues

Hello everyone!

It has been many weeks since my last blog..I have been very busy showing homes and have still not found the right home for my precious buyer. Since our time is short we have decided to look into rentals which has become an entire story of it's own! If you thought finding a home to fit your clients needs in this market would be a breeze..haha try finding a suitable rental to do the same at a reasonable price!! Not to mention all the moving problems..help!

I am praying that with the recent stock market good news (however short lived it may be) perhaps a few sellers might put their homes on the market..I am beginning to think they are all captured by terrorist and have been given strict orders not to speak to a real estate agent about selling for a couple years..but seriously I know the sellers who really need to move to another home are out there..but for the love of pete will they hurry up!!!! I will not give up the fight until they drag me kicking and screaming to the closing table!!

$7500 credit for First Time home buyers

I had two buyer clients ask me about the tax credit that is being mentioned in the papers. You must be a first time buyer and there are other restrictions.

Below is a little information about the credit and a few contact numbers for more information..

IRS Issues Guidance on Tax CreditThe IRS has released IR-2008-106, providing some guidance about how individuals who utilize the new $7500 first-time homebuyer tax credit will reflect the credit on their tax returns and receive the benefit from any refund. The notice reinforces the fact that taxpayers will be required to repay the credit, starting with their tax return for 2010, which will be filed in 2011.
The IRS is designing a new Form 5405 for those who utilize the credit. The new form will be included in the Form 1040 packet and filing instructions that are distributed in late December and early January. The new form is not yet posted on the IRS website. While it has not yet officially announced its plans, the IRS will likely use the information on this new form to track the group of taxpayers who use the credit and provide them with instructions on how to make the repayment. This guidance will be issued later.

HOUSING AND ECONOMIC RECOVERY ACT OF 2008
First�time Homebuyer Tax Credit FEATURE
H.R. 3221
Housing and Economic Recovery Act of 2008
Amount of Credit
Ten percent of cost of home, not to exceed
$7500
Eligible Property
Any single�family residence (including condos, co�ops) that will be used as a principal residence.
Refundable
Yes. Reduces income tax liability for the year of purchase. Claimed on tax return for that tax year.
Income Limit
Yes. Full amount of credit available for individuals with adjusted gross income of no more than $75,000 ($150,000 on a joint return). Phases out above those caps ($95,000 and $170,000, respectively).
First�time Homebuyer Only
Yes. Purchaser (and purchaser’s spouse) may not have owned a principal residence in 3 years previous to purchase.
Recapture
Yes. Portion (6.67 % of credit) to be repaid each year for 15 years. If home sold before 15 years, then remainder of credit recaptured on sale.
Effective Date
Purchases on or after April 9, 2008
Termination
July 1, 2009




Contacts: Linda Goold, 202-383-1083
Contacts: Megan Booth, 202-383-1222
Contacts: Helen Devlin, 202-383-7559