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Selecting A Realtor

On February 12, 2016, in Uncategorized, by admin

One of the first steps in buying or selling a home is choosing a competent, reputable Real Estate Agent to represent you. Choose well and the Agent can help make your dreams come true by getting you top dollar for your house, in a timely manner, or by finding your dream home within your budget. […]

One of the first steps in buying or selling a home is choosing a competent, reputable Real Estate Agent to represent you. Choose well and the Agent can help make your dreams come true by getting you top dollar for your house, in a timely manner, or by finding your dream home within your budget. Choose poorly and the experience can be frustrating, drawn out, and in some cases will end in cancelling the relationship and starting over.

How can you choose the right Realtor?

  1. The best place to start is by asking friends and family for a referral. Just make sure they aren’t steering you to their friend who just got in the business because they’re trying to help them out. Ask what they liked about them. Make sure they have firsthand experience working with the Realtor they refer.
  2. You want to work with someone who specializes in what your selling or buying. If you’re a first time buyer, you should look to work with someone who specializes in first time buyers. That agent will be more likely to take extra time to explain some of the nuances of buying your first home. They can help paint a picture of what you should expect to happen before, during, and after you purchase. The same goes for someone purchasing a luxury property. If you’re buying a high end beach house, you want someone who’s familiar with the high end beach market. They’ll know what to look for, what to expect and if the seller is asking too much for what you’re getting.  This applies to seller’s too. You want an agent who is honest and knowledgeable and prices your house right to sell in a timely manner. Otherwise you may be waiting 6 months and still not sell. In both cases a good Realtor can save you tens of thousands with their knowledge of the market.
  3. Look up potential agents at the local real estate board. In Charleston it’s the Charleston Trident Association of Realtors (CTAR). You’ll find valuable information such as licenses an agent holds, or if there’s been disciplinary actions and complaints against them. Definitely good information to have before entering into a contract with your agent.
  4. A good listener is key. A great Real Estate Agent takes the time to listen to your goals, wants and needs so they can be successful in finding you a special home that satisfies them. Otherwise you’ll be in the car visiting open houses weekend after weekend with no success. Who wants to do that?
  5. Check out their website. Online marketing is a big part of buying and selling real estate these days. You want someone who has a good web presence and can efficiently implement web tools to buy or sell your home efficiently.
  6. Check with your mortgage professional. A good mortgage professional will have a handful of top agents in the area and will direct you to the ones that specialize in exactly what you need.

 

Coastlend Mortgage is connected to a select group of the best agents in Charleston and surrounding communities like Mount Pleasant, Daniel Island, Summerville, Johns Island, Isle of Palms, Sullivan’s Island and more. If you would like a referral to one of the best agents in the Low Country, please let us know.

 

Is It Time To Refinance?

On February 10, 2016, in Mortgage Interest Rate Deduction, refinance, refinance, by admin

There are many factors that come into play when deciding to refinance. Is it the right time? Are rates low? How long do you plan to live in that home? Refinancing does depend upon each individual’s current situation but here are some pointers on whether or not it’s time to refinance. You can recoup the […]

There are many factors that come into play when deciding to refinance. Is it the right time? Are rates low? How long do you plan to live in that home? Refinancing does depend upon each individual’s current situation but here are some pointers on whether or not it’s time to refinance.

Refinance

  1. You can recoup the cost of doing your refinance within two years. If you are able to do that then it is a sign of a good refinance. Even better is Coastlend’s no closing costs refinance, so you start saving money from day one.
  2. If you’ve been paying on your house for six years and don’t want to reset the clock, Coastlend has a loan with terms from 8-30 years. So in this case you can refinance into a lower rate and payment on a 24-year loan that way you’re saving money and not starting over.
  3. How high is your rate? Traditional wisdom states you should lower your rate by 1%. However, that does not apply when there’s no closing costs. If you can lower your rate by .5% with no closing costs and save money, then it makes sense.
  4. Your economic situation is also a major factor. If you’ve lost your job or moved to a one-income household, it would be best to refinance. A refinance is a great option to lower your payment and/or ease your financial struggles.
  5. If you need cash pronto, cash out refinance is the answer. This is when you turn your equity into cash. You can use it for a multitude of new things. Such as, paying college tuition, starting a business, buying an investment property, etc.

So, is the time right for you? If it is, let us help you! Call Coastlend Mortgage at 843-388-5763.

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Good News for Panthers Fans

On February 5, 2016, in broncos, panthers, Real Estate, superbowl, by admin

Many predict the Panthers to win the super bowl but, how does their real estate market measure up to the Broncos? Charlotte, NC home of the Panthers have a median house price of $227,00 in comparison to Denver, CO where the average list price is $474,000. However, in Charlotte homes stay on the market around […]

Many predict the Panthers to win the super bowl but, how does their real estate market measure up to the Broncos?

Charlotte, NC home of the Panthers have a median house price of $227,00 in comparison to Denver, CO where the average list price is $474,000. However, in Charlotte homes stay on the market around 88 days. Whereas, homes are on the market for an average of 67 days in Denver. Denver’s homes sell 27 days faster than the national average making it a real estate hot spot.

Due to Denver being a real estate hot spot there are less homes available on the market. Currently 5,141 homes are listed in Denver which can be linked to the high list prices. Similarly, low home prices in Charlotte can be linked to 14,116 homes listed on the market. Nevertheless, these cities have around the same population size.

Charlotte’s homes reflect the classic southern style. The traditional southern style includes white columns, front porches, and triangular gables. These homes average around 2,056 sq. ft. Ranch style homes are more popular in the mountains. These single story 3,022 sq. ft. homes offer more space than the traditional southern style in Charlotte.

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Who do you think wins the real estate bowl? The broncos who have the Rocky Mountains with high list prices and a competitive market. Or the Panthers where homes are more affordable and easier to come by. We like to think the Panthers take the bowl due to affordability (plus you have to root for your neighboring state)!

 

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