Been wanting to move To South Carolina for five years and a house i looked at five years ago has sold twice, once in foreclosure and now is at almost 1/2 of what it was selling for five years ago. I want to buy it so bad but the economy there is as bad or worse than where i'm at now.The realtor i have been working with assures me the price will be three times the amount in five years. That is like listening to a fortune teller. he does have a grasp on that area having sold there for over twenty years. He advises me to buy and rent until i can move there and the market will come back. It is in a gated community 1/4 of a mile from one of the best Golf coarses in the area.I have been that route before and it never worked out. Things are just on hold right now. Everybody is scared to death.
right now i rent. i just moved out of new england, where prices are so unreasonable its a joke.
they way i look at, i would have zero motivation to buy right now. market sucks, whatever i would look at buying would probably go down anyways, and once i did buy, i would be stuck.
renting, i am in a really nice place with every amenity i could want (pool, fitness center, etc), pay no taxes on it, no commitment, and don't have to worry about what this damn thing is worth every month. and my rent is dirt cheap (i'd easily pay double in ct/ma).
i can say i have no interest in buying. i'd be happy renting for the forseable future. couldnt imagine my life being any better if i was in a house. of course, i get nothing in return for what i pay in rent, but its so cheap i could care less.
they way i look at, i would have zero motivation to buy right now. market sucks, whatever i would look at buying would probably go down anyways, and once i did buy, i would be stuck.
renting, i am in a really nice place with every amenity i could want (pool, fitness center, etc), pay no taxes on it, no commitment, and don't have to worry about what this damn thing is worth every month. and my rent is dirt cheap (i'd easily pay double in ct/ma).
i can say i have no interest in buying. i'd be happy renting for the forseable future. couldnt imagine my life being any better if i was in a house. of course, i get nothing in return for what i pay in rent, but its so cheap i could care less.
Sold my house in less than a month. Agreed to let it go for 5k less than the appraised value. Came out 80k ahead with equity. It is very tough to sell a house nowadays...you need to have a good location, something people want, a fair price, and a good agent. It is tough, but not impossible.
As a proud Palmetto State resident; yes; we do have continued high unemployment; but also have a big Boeing Airplane factory to start up in Charleston area; have BMW expanding about 1K jobs upstate; and numerous other companies consolidating their work in SC; where there is still (Kinda) a work ethic. I would say the higher priced ; gated communities, in prime areas; were hit the worst with price reductions; since they had risen so much, so fast. If you look around; there are bargains; interest rates below 4%; and South Carolina is a super great place to live.
jmho
gl
jmho
gl
Worth of the home in relation to other similar properties in the area basically. We had 2 appraisals done...one in 2006 the other in 2010. Both appraisals were within 5,000 despite being done so far apart by two different companies. I know I got extremely lucky...built the home myself so I was more than happy to unload it and free up the equity for a down payment on a much nicer home.
I live in West Plano, there are plenty of homes from $300K-$750K available and you don't need to pay near 100% of the asking price. Too many new houses still available. My neighbor couldn't sell his house, because across the street in different development new construction is on going and you can get a similiar that has never had any residents previously for the same price.
Here in Vegas, there are still buyers galore.. Things have slowed a bit since the tax credit expired, but thats to be expected.. The key is obviously price.. If a quality property here in Vegas doesnt sell in 2-3 weeks, its overpriced, period.. A majority of the sales here are short sales or Reo's, so theres not alot of feelings involved in most of these sales.. Its all based on the numbers and market value.. Perceived value just doesnt exist.. I just read the latest stat that listings are selling at something like 99% of list price.. Again, pricing is everything..
