September 2011

There are 16 blog entries for September 2011.

Somerset Point logoIt is amazing what can be accomplished by injecting a little value into a neighborhood. Do not ever underestimate the importance of "value." Take Somerset Point on Lady's Island, which is one of Beaufort, SC's main residential hubs.

Somerset Point languished for several years as the very unsuccessful Coosaw River Estates, a neighborhood which attempted to exploit the $350,000 to $400,000 price point, which was riding high in the early to mid-2000s. As the real estate market slowed, one of the most severely affected areas was this critical price point, which was popular in neighborhoods like Walling Grove, Coosaw Point and Coosaw River Estates.

In 2010 the existing Somerset Point development team re-assessed the neighborhood, the existing real estate

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RealtorDo you have a Realtor on your current property search, or are you utilizing Realtors? It's an important distinction, and, believe me, more is not better when you are looking for a new home.

A Realtor friend of mine called recently to tell me about her very frustrating day showing property to a prospective buyer. Over the course of the day, my friend discovered that this buyer had been out with no fewer than three other Realtors in recent days, and had even written a contract with another agent.

This was a very frustrating situation for a very good Realtor, who had cleared her Saturday calendar, and taken precious time away from her family,  for this buyer.  And yet, while my friend had gone all out preparing for this buyer, the buyer was fielding calls from

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short sales signShort sales and foreclosures are on everyone's minds these days. As we mentioned in a recent blog, a foreclosure involves the sale of a property which is owned by the bank, which took back the property after the owner defaulted on the mortgage, while a short sale involves the sale of a property which is still owned by an individual, but is subject to approval by the owner's lending institution because there is a gap between what the property is worth and the outstanding mortgage on the property.

With so many foreclosures and short sales on the market in Beaufort, SC, it is tempting for a prospective buyer to focus only on these type of properties. After all, that is where the best values are.....right?

Not necessarily. A property does not have to be a short…
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Beaufort SC Industrial VillageBeaufort Industrial Village in Beaufort, SC is a great place to do business. This 32-acre office, commercial and industrial park was created with the business person in mind. All sites come prepped with off-site storm water retention, public water and sewer taps. Natural gas, both high and low availability, are available on site, along with three phase electricity and phone lines in place.

All Beaufort Industrial Village Roads are industrial strength, and able to withstand the heaviest of loads.  Roads have rolled curbs and gutters with storm water collection that is piped underground.

The Limited Industrial zoning lends itself to a variety of uses as evidenced by businesses as varied as a kazoo factory,  jet engine development facility, Beaufort County…
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2668 Broad Street, Beaufort SC 29902If you are seeking a well-kept, spacious home in the low $200,000 range, in the city of Beaufort, we'd like to tell you about 2668 Broad Street.

Located within the beautiful and sought-after Broad Street neighborhood, this jewel of a home has 1680 square feet of living space, three spacious bedrooms, and two-and-a-half bathrooms.   -

Built in 1999, this home boasts hardwood floors downstairs, and one of the few garages in the Broad Street neighborhood. The living area is large, and opens up

the kitchen and eating area, making the home perfect for entertaining. From the breezy front porch, to the screened back porch, this home is made for both outdoor, and

indoor, enjoyment. The mature landscaping offers surprising privacy for an in-town home.

2668 Broad

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forclosures vs short salesWe in the real estate community get asked often about the difference between a "short sale" and a "foreclosure," two terms used frequently these days in real estate discussions. Beaufort, SC, like most areas of the country, has seen its share of foreclosures and short sales in recent years.

A foreclosure involves the sale of a property which is owned by the bank, which seizes the bank because the previous owner defaulted on the loan. After the bank completes the foreclosure process, it will put the property on the market, either through an auction, or by listing the property with a real estate agent.

A short sale involves the sale of a property which is not bank-owned. But although short sales are not bank-owned properties, they will

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Hamilton Village Luxury CondosBig-league baseball players step up to the plate looking to hit the ball with the sweet spot of the bat. The sweet spot, of course, is the location on the bat which is best suited for hitting the ball. From the sweet spot, the ball travels fastest and farthest.

Every piece of real estate has its own sweet spot, as well.  The sweet spot is the price at which a property is best suited to sell. Property priced in the sweet spot will sell the quickest.

Many developers in the Beaufort area have struggled in recent years with pricing before finding the sweet spot.

Over at Hamilton Village, a beautiful upscale condo complex just over the bridge from Historic Downtown Beaufort, condos were once listed at more than $800,000.  A few years later, the community's…
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home insuranceSurprisingly, insurance can be one of the last bits of business a home buyer will take care of before closing on a new home. Buyers tend to take care of mortgages, home inspections and termite inspections immediately after they get a contract to purchase. Not so much with insurance.

It is not uncommon for buyers to wait until just a few days prior to closing to call about homeowners insurance. So, if the buyer hits a snag,  the closing could be delayed.  Since Beaufort is in a coastal region, insurance guidelines can be tougher or easier than in some other parts of the country.

For instance, the insurance company may want information on the condition of the roof and a/c unit, among other things, before writing the insurance. Time may be required to make…
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So, you are moving to the Beaufort, SC area, and you are unsure of whether you can afford to buy a home. Maybe you feel that renting is the best option for you and your family right now.

While renting may sound more economical on the surface, you may actually be able to buy a home for less than it costs to rent.

Just recently, one of the top real estate observers in the country released it's "Rent vs. Buy" index for the first quarter of 2011, and the report reveals that in 72 percent of America's largest cities, it is actually more affordable to buy than it is to rent!

Historically low interest rates coupled with declining prices in many markets have combined to create super home-buying conditions. As in other parts of the country, Beaufort has seen

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