How To Sell Your Home Faster For More Money

09/07/2020 by billbyrd

Wanting to Sell Your Home Faster and For More Money should be everyone’s goal! In this article we’ll cover 16 great tips, that will help you accomplish this! The key, improve how your home looks when it’s shown to potential buyers. You will improve the quality of your showing appointments, shorten your market time and reach your ultimate goal. Selling your home faster for more money!

Sell Your Home Faster For More Money

First impressions are lasting: The front door greets the prospective buyer. Make sure it is fresh, clean, and scrubbed looking. Repaint if necessary and replace the door hardware if it’s old and worn looking. Replace door mats if needed. Keep lawn trimmed, edged, and remove debris from the yard each day. Make sure that the first impression from the exterior of your home is a great one. It will set the tone for the entire showing.

Decorate for a quick sale: When you want to sell your home faster for more money, a worn home will reduce appeal. Even though many people redecorate homes they buy, show them what it can look like by redecorating? You’ll certainly get a quicker sale at a higher price. You simply, can’t find a better investment than a few cans of paint to brighten up the interior.

Open It Up

Let the sun, shine in: Open draperies and blinds, and let the prospect see how cheerful your home can be. Dark rooms do not appeal.

Fix that faucet: Dripping water may discolor sinks and suggests faulty plumbing.

Repairs can make a difference: Make sure appliances are in good working order. Loose knobs, sticking and squeaking doors and windows, warped cabinet drawers, holes in window screens, and other minor flaws, detract from a homes value. To sell your home faster for more money you’re going to have to have them all fixed. Don’t let minor repairs be a buyer’s objection. Many buyers believe there will be ten problems they haven’t noticed for every, one they do see.

Clean It Up

From top to bottom: Display the full value of your home from your attic to basement. From your utility space and garage, remove all unnecessary items. Make sure storage areas are as neat and clean as they should be. Organize items in cabinets and remove items to enhance spaciousness.

Safety first: Keep stairways clear. Avoid cluttered appearances and possible hazards.

Make closets look bigger: Neat, well-ordered closets show that space is ample. Remove unnecessary clothes and other items to maximize space.

Sell your home faster for more money with a sparkling master bath

Bathrooms help sell homes: Check and repair caulking in bathtubs and showers. Store as many items as possible to keep counters clutter-free. Make this room sparkle!

Arrange bedrooms neatly: Remove excess furniture. Use attractive bed coverings. Minimize personal items, including photographs.

Harmonize the elements: You’ll need to turn the music on, when you want to sell your home faster for more money. The FM radio or a CD playing softly with the TV off, and all lights on, day or night. Drapes and blinds open in the daytime, closed at night as appropriate. If it’s hot, cool it; if it’s cold light a crackling fire.

You can sell pride of ownership faster and for more money: It’s called cleanliness. Cleanliness has more buyers than used dirt. Put a sparkle in your bathrooms and kitchen and you’ll take lots more silver out.

You’ve Got To Leave:

The most important thing when you want to sell your home faster for more money is to leave. Never stay in your house when it’s being shown to house hunters. Avoid being present in your home when it is shown. The potential buyers will feel like an intruder and will hurry through the house.

When your selling your home, let the agent handle it. Remember that agent has worked many hours with these people. The agent knows what they’re looking for, and how to work with them. Let him or her do their job without interference. You may feel that the agent won’t show the important features of your home. Remember, the agent knows people aren’t sold by details until they’ve become emotionally involved with the big picture of your home. The presence of any member of the seller’s will only distract the buyers attention, it actually unnerves many buyers, and often prevents a sale. Don’t put this obstacle in your path. Leave your home when buyers are coming.

Sell Your Home Faster For More Money With Music

Music is mellow: Turn off the blaring radio or television. Soft-playing background music is okay but never load enough to interfere with the agent and buyer being able to freely converse.

Pets underfoot: Keep pets out of the way, preferably out of the house. Many people are acutely uncomfortable around some animals. And never let your pets jump up on visitors. Many pet owners are surprised when they learn that there is a significantly large part of the population that is not pet friendly. Don’t let your pet’s turn your buyers away.

Why put the cart before the horse? If you have items that you want to get rid of, do it before your home goes on the market. Trying to dispose of furniture and furnishings to a potential buyer before he or she has purchased the home is another distraction that will take the buyers focus off of buying your home. When you want to sell your home faster for more money focus on selling your home not your stuff. Remove unwanted items before your home goes on the market and it will probably help your home show better at the same time!

You may also want to check out Selling A Home In Charleston or Staging Your Home For Success and How To Prepare Your Home For A Photo Shoot

The Author…

Bill Byrd is a Husband, Father, Realtor, Educator, Musician and Athlete. A licensed Realtor since 1986 who loves helping his clients grow their personal wealth through real estate! Having helped hundred’s of families and individuals during his career you can feel comfortable that Bill’s and his Team’s experience and expertise are unparalleled in our market. Plus, Bill’s a great guy and one heck of a guitar player! More About Bill

How Can We Help You?

Contact us at 843-972-7670

Homes For Sale Near The College Of Charleston

08/27/2020 by billbyrd

We often get inquires about Homes For Sale Near The College Of Charleston. Why you ask? Well, the College of Charleston benefits from being smack in the middle of one of the most beautiful and historic cities in America! The College of Charleston is also in a densely populated Historic District which attracts investors as well as folks that love the feel of its old world charm. Unfortunately for the students, this has translated into off-campus student housing challenges.

The Cistern Yard at The College of Charleston in Harleston Village - Homes For Sale Near The College Of Charleston — The Cistern Yard – College of Charleston

Due to the shortage of student housing at the College of Charleston, most upper class-men have to seek housing off campus. Typically students either find an apartment in the city or in the outlying areas. However some industrious parents have discovered that they can solve a problem with a great solution! They invest in student housing in Charleston by purchasing either condo’s, duplexes or homes in and around Charleston!

Another driving factor for the shortage of student housing at the College Of Charleston is the nearby Medical University of South Carolina. Students from both school’s are often competing for housing in the same areas since the schools are both relatively close to each other. This increased demand for Homes For Sale Near the College Of Charleston is what creates the challenges for many students.

Since Charleston is a very walkable city, most students if they live close enough to campus don’t need a car. Both the College of Charleston and MUSC have great security teams and systems in place to help students feel secure in the area.

Living far off campus poses the other problem of parking in our city. Driving in from the other areas around Charleston is convenient, however the parking is both expensive and or difficult to find at prime hours.

Find Homes For Sale Near the College Of Charleston

When you start to explore our Student Housing Options you might have a little sticker shock. Keep in mind the rents for off campus housing are high. So you may find you can easily offset your expenses by renting to multiple students.

The Byrd Property Group is very in tune with the market for Homes For Sale Near the College Of Charleston and can help guide you to the right property. We help our clients make great buying decisions by completely analyzing the market for them. When you find a property you like, we will help discover what fair market value is for the property and what kind of rental income you could expect. We can help you protect your investment by making a wise choice based on your goals.

Search Student Housing Options By Price

Let Us Know How We Can Help You?

Contact us at 843-972-7670

Buying Land To Build Your Own Home

08/17/2020 by billbyrd

Planning is the most important step when Buying Land To Build on.

When most people dream of building their own home, the first thing they think about is buying land!

Well I’m here to tell you you may want to do a little research and planning first. In this post I am going to share with you several key points you should consider before you buy land to build on. Unfortunately, it’s kind of like the “chicken and the egg”! What I’m about to share with you, may seem like overkill, but if you read carefully you’ll discover why these things are important. Also…keep in mind, you don’t have to do any of these things, if you’re willing to take the risk!

When Your Ready

We’ve made it easy for your to find every property on the market with the pre-built search by area links below!

Summerville-Ridgeville Land and Lots
James Island Land and Lots
Folly Beach Land and Lots
Johns Island Land and Lots
Wadmalaw Land and Lots
West Ashley Land and Lots
Hollywood-Meggett Land and Lots
Kiawah-Seabrook Land and Lots
Isle of Palms-Sullivan’s Island Land and Lots

Things To Consider When Buying Land

There is a lot to consider when buying land! Some things are obvious and some not so obvious. It’s the things that are not so obvious are what you need to understand! Find your lot or land here.

Know What You’re Going To Build

The first and most important consideration is what you’re going to build on the land. Most people start out with the idea that, “I’ve got $100k in the bank, I’ll just go buy a piece of land and we’ll build a house”! People do this all the time and it’s not always a bad thing, just not the preferred route! You really need to know what your going to build first! Check out this post on Building Your Own Home for some great ideas on how to discover this first important step to buying land.

Tip: Know what you’re going to build before you shop for a lot!

Buying Land In The Right Location

When buying land make sure you know the area you’re buying in well. If not, do your homework. Speak to neighbors, go to the local planning and zoning departments, find out what’s going on there. You’ll need to know what’s planned for the area around your property. Are their any new subdivisions approved nearby, schools to be built, waste water projects etc.? The last thing you want to do is buy a beautiful piece of property and then a year later have a shopping center built next door!

Buying Land Lot 5 Signs 4204 Cottage Grove Ct. Summerville SC 29483

Know The Properties Zoning

To most people this may seem obvious but it is often over looked. The zoning of your property and the neighboring properties will determine the density and types of development that will be allowed in the area. For instance, you might buy a nice 2 acre lot at a reasonable price and then build your dream home there. Only later to discover the zoning in the area will allow 4 homes per acre. This could be a small gold mine if your intentions are to subdivide your property and cash out. But if your neighbors have the same zoning, you may find yourself eventually in a sea of homes surrounding your wonderful property!

Don’t under estimate the importance and implications of zoning regulations on your property and the surrounding area.

Buying Land And Natural Hazards

You will also want to know how Mother Nature can impact the land your interested in buying. In the low country around Charleston you have several things to consider.

Wetlands

In low lying areas you’ll need to be concerned about the elevation of the land. If your property has any designated wetlands you will not be able to build in those areas. As an example a 10 acre lot priced at $15k per acre may not be worth $15k per acre if only 1/4 of it is high and dry! You will want to ask if a “wetlands delineation” has been done. Most likely one has not been done. Unless you are buying land from a developer a wetlands delineation most likely will not have been done. Not a show stopper but something to consider and be aware of.

If the seller does not have a wetlands delineation or a survey that shows the area of wetlands on the property. Getting a survey during your due diligence is a must.

Soils

Another important factor to consider in the lowcountry when buying land and building a home are the underlying soils. You will want to have the soil tested to determine if it is stable enough to support the home you’d like to build. The soils in the low country as in most of the south eastern seaboard are comprised of millions of years of sediment from the rivers and oceans. Some of this sediment contains elements of a variety of densities.

It’s best to know what’s underground before you build. However, if you discover that your lot has a less than perfect capacity to bear the weight of a house, their are remedies. An engineer will suggest a range of solutions for your foundation contractor so you can build your dream home on your perfect lot! It may be at an additional cost, but, if it’s where you want to live it may be worth it!

Tip: Don’t buy a lot without testing the soils!

There are two tests most builders use. One is a “Bearing Capacity” test which is less expensive and less involved. And the other is the “Geotechnical Analysis”. Naturally, the bigger the name, the bigger the cost! With that said, the Geotechnical Analysis is a much more involved testing process which requires deeper soil borings. The experts that I’ve spoken with say that the Geotechnical Analysis gives you a much more clear picture of the soil composition of the property.

Flooding

Flooding is simply something we live with here in the low country! Not to understate the importance, you should definitely know the flood zone of your property. The biggest reason is the financial impact and expense of Flood Insurance. A high flood insurance premium could put your dream home out of financial reach! So know your flood zone!

Tip: Always check the flood zone!

Trees

Everyone loves trees! However trees can pose problems when building. In the Charleston tri-county area you’ll need to discover the rules and regulations concerning “Grand Trees”. Typically these are older trees that have a circumference of 24″ or more. Where the problems start is when you need to remove one of these “Grand Trees” to build your home or auxiliary structure! You may need to buy an expensive permit to remove the tree.

The second important concern with trees is their health. You’ll want to make sure you’ll be able to clear the lot of all dead or dying trees. Then, you’ll want to protect the remaining trees during construction.

During storm season, we experience high winds on a regular basis and you need to be confident that your trees are strong. The last thing you want is a huge oak or a tall pine to land on your new home!

Easements And Title

Prior to closing on your property, your closing attorney will do a title search. This title search will research the chain of title for your property to determine if the seller has clear title to sell you. Clear title can sometimes be a problematic issue when it comes to buying land. In all of the original thirteen colonies we had a variety of events that have caused some of our title records to be imperfect.

Heirs Property

One of the biggest issues to be aware of when buying land in the low country is “Heirs Property”. After the civil war many citizens of color where given land in reparations. Unfortunately, record keeping was not efficient at that time. Due to these record keeping inaccuracies during this period, often discovering who the true owners of a property and where its real boundaries are can be challenging. And, since every owner when selling a property has to sign the deed, and the proper legal description is used, showing evidence of clear title is imperative. Bear in mind “heirs property” issues do not effect every property in every area of the Charleston region.

So how does a property become “heir’s property”? It’s actually pretty simple. Over the years as the elders would pass, their properties would be inherited by the other members of the family according to either “a will” or, “intestate succession“. In some cases, the deceased would not have had a will. Over time, as each elder would pass, the list of owners/heirs of these properties would expand. In some cases, this has created problems for attorneys attempting to help the existing owners provide clear title for their sales.

Title Insurance

While important, I will cover the topic of Heirs Property fully in another post. However, anyone buying land in the low country should be aware of the possibility of title issues when it comes to buying “heirs property”. And…even though buyers can purchase an owners title insurance, many title insurance companies will not insure “around” the title defect of “heir’s property”.

Tip: Do not buy any property without buying an “Owners Title Policy”!

A title search will also discover any recorded easements that affect the property. An example would be a powerline easement, an easement to cross the property for access to a land lock parcel or a lake etc. Additionally there are many other things that a title search won’t discover as well. Like, a forgery, an unrecorded easement, lost paperwork, misfiled documents etc. However title insurance will protect you from these unknowns.

Tip: Meet the neighbors around the property you’re considering to buy. Ask them questions about the property and the owners. You may discover some important facts that may not easily be discovered any other way!

Utilities

Also, you will need to discover what city/town or county services are available to your lot. Will you have to dig a well? Will you need a septic system? Is electricity, internet or natural gas available? Make sure if a particular service is important to you, it’s available.

More importantly if they are not available can they be brought to your property and at what cost? Simply making a call to your local utility companies will guide you in the right directions. You may not get all of your questions answered on the first call but you’ve got to start somewhere!

Get A Survey When Buying Land

Simply put, you need to know what you’re buying! A survey is a complete picture of the dimensional factors affecting a parcel of land. On your survey you may want to have them notate the following:

The boundaries
Topographical features and contours
Tree locations
Easements and setbacks
Elevation and benchmark

Tip: When buying land, always get a survey!

Conclusion

Yes your right, there is a lot to know when you are Buying Land To Build On! However, you have help and resources at you disposal. Checkout this post on What to Include in your Offer to Purchase Land.

Please feel free to reach out to us at the Byrd Property Group at 843-790-7000 with your questions. We are here to help and can assist you and guide you through the entire process from start to finish. We have done this many times and know how to navigate these tricky waters!

Bill Byrd has been a licensed realtor since 1986 and one of his specialties has been in working with land. Whether it’s helping land owners sell or buyers find the right property, Bill has handled it all. When you hire Bill, you can feel comfortable and confident that your working with a true real estate expert that has your best interests at heart!

How Can We Help You?

Contact us at 843-972-7670

Building Your Own Home – Planning For Success

08/17/2020 by billbyrd

Are you dreaming about building your own home? — Plan For Success!

Buying land and building your own home is the quintessential American Dream! Since our country was first settled, building your own home has been one of the most coveted goals of many Americans. However, this dream, as basic as it sounds is much more difficult than most people realize. So here in this post I’ve outlined several things to consider when pursuing the dream of building your own home.

Plan, Plan, Plan

In my career I seen many people go down this path and come up empty handed or worse losing money in the process. So my goal here is not to discourage you but to help you understand the process. We will look at what’s involved with finding the right property and how to develop a plan for success. From talking with builders to understanding the dynamics of land, I want you to have a great foundation to start. Knowledge and planning will give you the highest chance of fulfilling your dream of building your own home.

Finding A Lot or Land To Build On!

When you’re ready to begin your search for land, we’ve made it a little easier for you. Check out these pre-built links to every land listing on the market categorized by area.

Summerville-Ridgeville Land and Lots
James Island Land and Lots
Folly Beach Land and Lots
Johns Island Land and Lots
Wadmalaw Land and Lots
West Ashley Land and Lots
Hollywood-Meggett Land and Lots
Kiawah-Seabrook Land and Lots
Isle of Palms-Sullivan’s Island Land and Lots

Step 1 – Building Your Own Home

Do You Have To Sell Your Current Home To Qualify?

The first question you have to ask yourself is, do I have to sell my home to qualify? Big question! This will tell you if you’ll be able to move straight into your new home when it’s ready? Or… if you have to sell your existing home and move into a temporary rental until your home is built.

Know What Your Current Home Is Worth!

Also, knowing what you will eventually net from the sale of your existing home is extremely important. How much cash/equity can you realistically pull from your current home to put into your new home will be the basis for establishing your down payment and budget. Knowing what your home is worth is an important first step but knowing what your approximate net gain from the sale will be is even more critical.

Tip: Don’t make assumptions on what you might be left with after the sale of your current home!

Contact Us For A FREE, NO OBLIGATION Market Analysis and Net Sheet for your home! 843-790-7000

Or…Click Here For A Quick AI Home Valuation

Step 2 – Building Your Own Home

Secure Financing

Just like buying a resale home, you’ll need to get pre-approved for a lot or construction loan purchase. This is critical to establish your budget. The last thing you want to do is to find a great property and get your family excited about it and not be able to close. Or, you buy a great property and discover you can’t build the home you want within your budget! The last thing you want is to be stuck owning a lot you can’t build your home on! Ouch!

Step 3 – Building Your Own Home

Know The Costs Of What You Want To Build

It is very important to begin the process of discovering the costs of what you want in a home. You probably have a good idea of most of the basics but now is the time to do your research. Having a great real estate agent that knows the building process like our team does, will go a long way towards guiding you to the best decisions. Some resources to check out.

Go Online and visit Home Plan websites
Visit Model Homes in the New Communities in your area
Go to Home Shows
Visit Home / Building Supply Stores
Meet and talk with different builders

Know Your Numbers

You’ll want to get a good idea of how much your home will end up costing before you hunt for land. For instance, if your total budget for a house and land is $450,000., and your house is going to cost $350,000 to build, you’ll need to find a lot of land under $100,000.!

I’ve seen to many people do this backwards. They will put a lot under contract and then discover what they want to build puts them way over budget and they have to back out of their purchase of the lot. Or worse default on the contract and lose there earnest money deposit. Additionally, some folks get so far into the process that they will have spent money on home plans, survey’s, soil reports and more! It’s a shame to watch this happen. Especially when we know, we could have helped them plan and avoid these losses.

Planning to build a house can be time consuming and expensive. But in the beginning, if you put in the work, your efforts will payoff!

Step 4 – Building Your Own Home

Make A Checklist

Determine the basic requirements for what you will need in your home. You can take this a far as you want. But at least make sure the big items are covered.

How Big Do You Want Your Home? Square Footage Required?
How Many Bedrooms and Baths
Do You Want An Attached / Detached / Side Or Front Loaded Garage
Do You Want A Swimming Pool
How Big Of A Yard Do You Want
What Type Of Siding Do You Want
What Type Of Foundation Do You Want
Etc.

Step 5 – When Building Your Own Home, Should You Have A Home Designed or Hire A Builder?

Have A Home Designed

You might want to take this as far as having a home designed in advance by either a builder or a home designer/architect. However, this can be relatively expensive. So my best advice would be to discover a basic range of the cost per square foot for homes like you want in your area. Once you have this number, you can use that as a reliable gauge.

Tip: There are a few things to keep in mind if you visit new home sites where “production” home builders are building. Builders like Pulte Homes or Lenar that build in high volume can build homes for less money than you will be able to. Since they build so many homes, they benefit from the economy of scale. They receive bulk discounts from their suppliers and contractors that you won’t be able to get. With the biggest advantage being the cost of the land they build on. These large builders either buy land in bulk from developers or develop the land themselves. This gives them a huge pricing advantage in the market! A homeowner building a single home just can’t compete.

Meet With A Builder

A less expensive alternative than having your home designed in advance, is to meet with a couple builders. They should be able to give you an idea of what the home you envision will cost. They may not be able to give you and exact cost but should be able to share with you a cost per square foot range. Typically, this figure will not include costs for site preparation, tap fees, well and septic, clearing, fill dirt, permits and many other variables that may be required for the eventual site you choose for your home.

Tip: You may have to pay for an estimate or hire the builder before they will put long hours into your plan or estimate!

Building Your Own Home – Conclusion

You Can Design the kitchen of your dreams when you build your own home.

Keep in mind as your wish list grows so will the price. And you may end up very surprised at the cost of a home with all of your “have to have” items. Understand that it is very common for people to make compromises due to cost considerations. And, if you discover you can’t build what you want, it’s better to find out early in the process rather than after you have closed on and own a lot.

So once you’ve completed your initial research and discussions with prospective builders, now you’ll have a better idea of how much you can spend on your lot.

So now you can go shopping for land with confidence. You know roughly how much your dream home will cost and know how much you can reasonably spend on a lot!

What’s Next?

Check out this post on Buying Land To Build On!

The Author….Bill Byrd has been helping clients buy land and build homes since 1986. Having personally built several homes in his career, Bill’s clients gain valuable insight when buying land to build on and selecting the right builder. Working with a true expert will save you time and money, while being confident in your decisions! To reach Bill direct call: 843-972-7670 or feel free to send him a question below!

Have A Question?

Contact us at 843-972-7670

Turn Your Dirt Into Dollars – 16 Reasons

08/02/2020 by billbyrd

Why You Should Turn Your Dirt Into Dollars

Turn Your Dirt Into Dollars instead of Holding Land — Turn Your Dirt Into Dollars!

In some instances holding land is a good investment, but turning your dirt into dollars is the road to financial freedom! In this article I’ve address 16 Reasons Holding Land may not be the best alternative for your families future. Right now your land holds the key to your families financial freedom! But you have to know what to do with it first.

You know your land has value. And what I’m about to share with you is how you can put that value to work in another way. So take a look at these 16 points and discover some new ideas that could change your life forever. Then feel free to give me a call to discuss how we can help you reposition your investment into a more lucrative situation for your family!

16 Reasons – Dirt Into Dollars

Dirt has no value today unless it’s sold.
The money that comes from selling dirt can provide a lifetime’s worth of income for your family if invested properly.
Holding on to land has the cost of lost opportunity. This lost opportunity is the loss of the income that could be generated if the money tied up in the land was invested in something that generated income.
Selling land is not as easy as it seems. Click this link for more information on How to Sell Your Land For Top Dollar.

Developers And Builders

Developers and builders will never give you top dollar when buying directly from you as a For Sale By Owner.
Think about this, the highest paid athletes use agents to get them big contracts…I do the same thing for land owners. I help them get bigger contracts than the can without representation. LeBron James has and agent, you should too!
Developers and builders when buying directly from the land owner do not feel the pressure of knowing that the dirt is exposed to every land buyer on the planet. I expose your land globally to everyone looking for land. Including buyers that don’t know about your property!
Developers and builders will always pay more when your property is listed on the MLS with a land specialist like me, because they know I am exposing your property daily to every buyer on the planet that is looking for land here!
Land buyers and Builders and Developers will always pay more when they know if they don’t buy it someone else is may!
Why do developers and builders always want to get to the owners of land before a property is listed with a great land agent like me? Because they know they have a better opportunity to take advantage of an unrepresented seller and get a better deal if they can buy direct. They know if they have to deal through me and your interests will be protected and they will be competing with other buyers to buy your land.

Inherited Property – Holding Land

Families that inherit large assets often can’t agree as to what to do about the property.
Bickering about inherited property can cause rifts in families that can sometimes can never be mended.
Not every heir to a property has the same level of responsibility when it comes to paying taxes and the bills.
One heir to a large asset that doesn’t pay his or her bills can often cause a family property to be encumbered by liens and judgements that can create financial burdens for other family members. (ex. Medical Bills, Taxes, Auto Repairs, Student Loans etc.)
Tax Liens and Judgements are the biggest cause for families to lose their real estate fortunes. Too many times I’ve seen a families future destroyed this way.
Dirt has never been in more demand than it is now! Builders and Developers are tripping over each other to buy land. Your time is now!
We are approaching the top of the market, you can still sell before the market bubble pops again. The market bottom was 2010-12 and the experts agree that real estate market cycles run about 7 to 10 years. So we are simply over due for a correction!

See What’s On The Market Now!

Turning your “Dirt Into Dollars” now is a smart financial move for your families future.

If you are considering selling your land please feel free to contact Bill Byrd at 843-790-7000. Bill Byrd has been helping his clients sell their properties while reducing their tax exposure since 1986. Bill can help you design a strategy that can turn your real estate asset into a monthly cash flow machine! Learn how you can solidify your families future for generations to come!

The Author…

How Can I Help?

Contact us at 843-972-7670

Hurricane Preparation In Charleston

07/05/2020 by billbyrd

Hurricane Preparation In Charleston is a yearly event. Each year local residents prepare for the storm season in their own unique ways. And some, wait until the last minute or prepare very little. Many of us having lived through many storms in our lifetimes, simply know what to do and just do it. It’s just part of life living on the coast. While those that are new to the area might need a little coaching about Hurricane Preparation.

With the peak of Hurricane season being September 10th, now is a great time to break out your hurricane preparation checklist and make sure you are ready before the tropics really heat up!

Hurricane Preparation Facts

Hurricane Season is from June 1 to November 30.
Hurricanes are tropical storms that reach 74 mph sustained winds.
They primarily originate over the warm waters near the equator in the Atlantic Ocean, Caribbean Sea, The Gulf of Mexico, and the Eastern Pacific.
Hurricanes rotate counterclockwise in the northern hemisphere and counterclockwise in the southern hemisphere.
They rotate around a circular center called “the eye”.
Most hurricanes form well out in the oceans and never make landfall.
Storm Surge can cause lots of damage. It is caused by the strong winds of a hurricane as it moves close to shore.
Storm Surge causes water levels to rise, and the creation of large waves.
Once a tropical depression becomes a hurricane it is named by the World Meteorological Organization.
The names used for Hurricanes come from a pre-designated alphabetical list.
Find other Hurricane Facts at The Weather Channel

2022 NOAA Hurricane Season Outlook

Hurricane Preparation Resource

One of the best resources we’ve discovered for hurricane preparation was developed by Charleston County. Click this link to download the Charleston County Hurricane Preparedness Guide

Here is an excerpt from the guide:

Check into flood insurance.

You can find out about the National Flood Insurance Program through your home insurance agent. There is normally a 30-day waiting period before a new flood insurance policy becomes effective for an existing residence. Homeowner policies do not cover damage from the flooding that accompanies a hurricane.

Develop an emergency communication plan.

In case family members are separated from one another during a disaster (a real possibility during the day when adults are at work and children are at school), create a plan for getting back together. Ask an out-of-state relative or friend to serve as the “family contact.” After a disaster, it’s often easier to call long distance. Make sure everyone in the family knows the name, address, phone number, and e-mail address of the contact person.

Make sure that all family members know how to respond after a hurricane.

Teach family members how and when to turn off gas, electricity, and water. Teach children how and when to call 9-1-1, police, or the fire department, and which radio station to listen to for emergency information.

Create an Emergency Supplies Kit.

Because deployment of relief supplies and support to affected communities can be delayed or prevented due to damaged or impassable bridges and roads, assistance from emergency services may not be available for up to 72hours, or longer, following a major natural disaster.

Prepare your home.

Once a tornado, hurricane, or major storm hits, it’s too late to protect your home and property, but there are preparations you can make in advance to limit future wind and flood damage. Some are fairly simple and inexpensive; others will require a contractor. You’ll need to consider the characteristics of your home, your financial resources, and the building codes in your community.

Download the Charleston County Hurricane Preparedness Guide

So make sure you’re ready when the storms start developing off the coast. The best ways to stay informed are to keep an eye on The Weather Channel.

Check Out Homes For Sale At The Beach!

Flood Insurance

If you are interested in Flood Insurance we work with only the best local providers. If you need a reference please reach out we are happy to share our network of providers with you! Just reach out to any of our Byrd Property Group team members: Bill Millie Waverly and Jeff and we will be happy to help!

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Charleston Mid-Year Market Report!

07/05/2020 by billbyrd

July 15, 2020

You can't always get your way when buying a short sale

Here in the Charleston Mid-Year Market Report, Charleston Real Estate Sales continue to be strong. Typically, every spring and summer is a time when we expect sales to be at their highest. However, in light of all of the distractions in the world, the fact that Charleston Real Estate Sales are setting records just about every week, is nothing short of amazing to me!

Having a front row seat to the bursting of the housing bubble back in 2005-2009, I for one, did not expect sales to be at this pace. After the crash of the housing bubble, real estate sales virtually stopped for a few months. Then gradually began to come back but in a much different fashion. Now, during the current pandemic things are very different here in Charleston!

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Fortunately…having realized a long time ago that “flexibility is one’s greatest asset” in real estate, I’ve learned, “don’t question, adapt”! So now we are looking back at a couple of months worth of market data wondering, “where do we go next”! So let’s take a look at the Charleston Mid-Year Market Report for July 2020.

Hindsight Is 2020

Frankly, I have to admit, I’m baffled by this extreme activity and just simply rolling with it! Funny how the experts always come out and sound so smart when they tell you about what’s happened. And, have you ever wondered why so few make predictions, and even fewer will remind you when they were wrong!

Today’s New Challenges

For the Byrd Property Group we’ve simply been working hard everyday, selling our listings and helping our buyer clients find great homes. But, along the way, it hasn’t been without some new challenges.

Couple crunching numbers after looking at the Charleston Mid Year Market Report

Lending rules for self employee people have gotten tougher and more stringent.
Fewer listings have come on the market and buyers have fewer choices.
In some situations buyers have to compete for homes in multiple offer situations.
On the bright side! Interest Rates are at or near all time lows.
Banks have actually been tightening lending restrictions instead of loosening them.
Banks are in a much better shape than as they were before the housing crisis.

The good news in all of this is that the market didn’t just stop and fall off the cliff like it did after the housing collapse. And, I can honestly tell you I was prepared for the worst when Covid-19 first came on the scene. With that in mind, realistically we have to understand that we are a long way from out of the woods! So depending on all of the volatile elements effecting our planet right now, just know that anything can happen from here!

Charleston Mid-Year Market Report – The Numbers

So to begin with, June 2020 sales just eclipsed June 2017 sales by 11 sales. Not a large beat, but a beat none the less. Previously June 2017 were the best June sales numbers on record. Here is a chart showing the number of sales each year for ten years.

Charleston Mid-Year Market Report – Home Buying On A Tear!

Buying activity in the Charleston area has been impressive! Before May 2020, the highest weekly number of sales was 458 in 2018. And in the previous 3-4 years, 400 to 425 sales per week being relatively normal. So, what’s really impressive is that we have exceeded the old high of 458 sales in 2018 in each of the last 10 weeks. Additionally, we’ve surpassed 500 sales per week in the last 5 out of 6 weeks. In the last week of June we had 539 homes go under contract!

Unique to The Pandemic

Being a sign of the times in the Charleston Metro Area, many homes are going under contract site unseen. And due to the low inventory of homes on the market, some home sellers are experiencing multiple offers on their homes.

Foreclosures

As of this writing foreclosures and short sale have surprisingly been also non-existent. As we move forward this may not continue to be the case but we intend to keep and eye on this important market factor.

Low Inventory

In the Charleston Metro MLS since 2015, the inventory of homes on the market has ranged from around 5,500 to 7,000 homes on the market. However, late in 2019, our homes for sale inventory dropped below 5,500 homes on the market. Now our inventory numbers are getting closer to 4,000. Due to the recent local anti-growth policies of some of our local municipalities, the development and construction of new communities and new home construction is not keeping up with the current demand. So if you ever had any inclination of putting your home on the market, now would be the time! Less competition and shorter market times!

The Luxury Market on Fire!

Yes, that’s right! The Luxury Market in Charleston has been on fire in recent weeks. In the Tri-County area each week we normally have about 12 to 15 sales of homes priced at over a million dollars. Over the past 6 weeks we have had 207 homes go under contract that were priced over 1 Million Dollars! That’s almost 35 sales per week! Many people are speculating that these buyers are coming from the Covid-19 hot spots, as more people leave the densely populated cities in the north. All speculation however, as of yet there is no concrete evidence that confirms this.

Click Here To See….Charleston Luxury Homes Currently On The Market!

Surprisingly, what I’ve discovered is that in May of 2019 the Charleston Real Estate Market had approximately 855 homes on the market at over 1 million dollars. And now, that inventory has shrunk to 623 homes on the market!

And what’s even more compelling is that the Months Supply of Homes number for Luxury Homes In Charleston over 1 million dollars has come down to an 8.5 months supply on inventory! That’s the lowest it’s been in 15 years! So if there was ever a time to sell a Luxury Home in Charleston…the time is now! Less competition and shorter market times!

Charleston Mid-Year Market Report – Summary

These are simply unprecedented times. With so much volatility in the world and influences outside of real estate, the only advice I have is to pay attention! Having lived and worked through several different real estate market cycles and events from Desert Storm, 9-11-2001, the Housing Bubble and now the Covid-19 Pandemic we survived and thrived! And we came out on the other side much stronger and wiser. This time will be no different.

So keep your head on a swivel, your mind sharpe, stay safe and smart during these crazy times! And as always, if you or anyone you know needs expert real estate advice or assistance, please do not hesitate to call us! We are here for all our friends, relatives, present clients and new clients. Byrd Property Group

Search By Area

Click your area of choice below and see every home for sale on the MLS!

Northern Charleston Areas

Peninsula, Neck and Western Areas

Southern Charleston Areas

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What is Mortgage Forbearance?

05/23/2020 by billbyrd

Recently fur-lowed employee considering mortgage forbearance.

So what is mortgage forbearance?

Mortgage forbearance is when a lender or servicer allows a borrower to defer their payments to a later date. This deferment could be in the form of a suspension of payments or a reduction or payments for a limited time. The goal of the forbearance is to allow the borrower some reprieve while they restore their financial situation. For a list of FAQ answered by the Small Business Administration check out this 10 Page List of Questions on Forbearance Forgiveness Answered by the experts as of August 4, 2020!

What Mortgage Forbearance Is Not

What mortgage forbearance is not, is payment forgiveness. While in forbearance, the borrower will still be required to repay any missed or reduce payments.

Once a borrower has returned to their previous financial position they should notify their mortgage servicer and resume your payments. It is recommended that it be done as soon as possible as to not incur more future debt.

Different Mortgage Forbearance Programs

Mortgage forbearance programs may have different options depending on the loan servicer, loan investor, the loan guarantor or insurer, and the type of loan. Make sure that you completely understand the terms of repayment. Some loans may require a lump sum payment once your financial health has been restored. Others may work out a variety of payment arrangements.

Mortgage Forbearance and Your Your Mortgage Servicer

Your mortgage servicer is the company that you send your mortgage payments to. To apply for mortgage forbearance, you will need the name of your servicer, their phone number and your loan number.

You will need to call your loan servicer to make a request for mortgage forbearance. Your loan must be a government backed or insured loan to qualify for forbearance. However, some states and none government loans may have their own forbearance options.

Beware Of Scams

If you’re facing Mortgage Forbearance it’s important to know what to look out for regarding potential mortgage relief scams. Remember your own intuition and instincts are typically accurate. If you feel uneasy about the assistance you are receiving there is probably a good reason. Scammers may try to do any of the following:

Charge large upfront fees for their services.
Make promises that may be difficult to keep.
Use fear tactics to scare you into using their services.
Ask you to sign over your property title.
Ask you to sign documents you don’t fully understand.
Suggest that you make payments to someone other than your loan servicer.
Advise you to stop making payments.
Promise you payments in return for your personal information or credit card information.

The Heavy Lifting

When facing potential Mortgage Forbearance it all starts with the borrower and the loan servicer. Once that conversation is complete the game plan should be established and mortgage relief can begin.

New FAQs Address PPP Loan Forgiveness Issues-8-4-20

If you have any questions reach out to Bill Byrd at 843-972-7670. Bill has been a licensed broker since 1986 and has helped many families and individuals over the years seeking mortgage relief.

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The Author…

Bill Byrd is a Husband, Father, Realtor, Educator, Musician and Athlete. A licensed Realtor since 1986 who loves helping his clients grow their personal wealth through real estate! Having helped numerous families and individuals during the previous housing crisis you can feel comfortable that Bill’s experience and expertise is unparalleled in our market. More About Bill

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Buying A Short Sale In Charleston

05/13/2020 by billbyrd

Discover why Buying A Short Sale is unlike a normal sale.

If your considering buying a short sale house, there are a few things to consider. The most important thing to understand is that buying a short sale is not a typical transaction. After the housing crisis fall out in the 2007-2012 era it seemed like all I was doing in real estate was selling foreclosures and short sales. So I can confidently speak with authority on this subject! As I often quote the Farmers Insurance commercial, “we know a thing or two, because we’ve seen a thing or two”!

So the biggest benefit of buying a short sale is that you have the potential of getting a great deal! Over the years we have sold short sale homes well under market values with buyers walking into substantial equity. However, the flip side to the gain, is you have to be flexible, understanding and most of all patient!

1 – When Buying A Short Sale – Know The Market

Whether you are buying a short sale or buying a home from an equity seller, knowing the market is the first place to start. Is the market strong or weak? Are homes selling fast or taking months on the market? What is the list price to sale price ratio for homes where your considering purchasing? Knowing these answers is the only way you are going to know whether or not a home is listed as a good deal! As Professional Realtors, as well as Short Sale Experts, we study homes and prices everyday. We can provide you with the numbers you need to understand any real estate market.

Also, you’ll want to make sure you get advice from the right sources. Unfortunately we see too many home buyers rely on advice from out of state or online sources. Keep in mind it’s important to consult with people that know our local market, contracts or customs. Each state has different laws and rules regarding how real estate transactions are handled. You’ll want to develop your own understanding of our market. This way your decisions will be based on local benchmarks and not experiences from another state. Therefore, our recommendations are to use your local resources and learn the market with our help and guidance. In the end you’ll be much more confident and well equipped to make great deal.

2 – When Buying A Short Sale – The Seller’s Mindset

Short Sale Sellers can be stressfully challenged.

The first thing to realize is you’ll need to understand what a short sale is, and the impact it has on the seller. Briefly, a short sale is necessary when due to some hardship, the seller can no longer afford to make their payments. And, the home is worth less than the amount owed on the loan. Thus the payoff will be “short” when the home is sold.

Here you have a distressed seller that most likely is not maintaining the home. Typically deferred maintenance is usually a given. Why would they fix their home before feeding their family! The other element here is the sellers mindset. They are typically not happy about their situation, maybe a little embarrassed, so you need to approach the situation with empathy. Compassion early on will always go a long way when it comes down to the end of the transaction if things get stressful. Which can happen with a short sale.

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3 – Understand When Buying A Short Sale “The Bank Calls The Shots”

When you are preparing to make your offer, understand that the bank calls the shots. The reason for this in the banks point of view, is that they are taking the hit and eating the difference between the amount owed and the sale price. So they are going to call the shots! But that’s okay, if your patient you may be rewarded with a great deal. But, you may have to put up with a little inconvenience along the way.

4 – Know Your Limitations When Buying A Short Sale

If you have to move in by a certain date, you probably should not attempt to buy a short sale.

The process of approving a short sale is unpredictable for a variety of reasons. Over the years we’ve discovered every bank and person processing a short sale has a different way of doing things. Basically you are dealing with a transaction where everyone has a different set of procedures they follow. And from one sale to the next we are dealing with new sets of guidelines we have no control over.

Knowing where you stand financially will allow you to make better decisions.

So if you go into this process needing to close on a certain date, you might want to think twice about buying a short sale. You may be very surprised that your demands to close on a specific date will not matter. The folks at the bank will only move as fast as they will move. You see the seller has no input either here because the seller is not paying for anything! The bank is paying the realtor commissions, the closing costs, sometimes (but infrequently, don’t expect them) repairs and all other fees.

What this means to you, you have an unattached party making the decisions on the selling side with nothing to gain. The guy or gal working on the file is still going to have a job if you walk away from the transaction! And since the seller is already asking to be bailed out, the seller has no influence on the bank either.

I Hear The “Yea Buts”

Yes, I hear and have heard all of the “yea buts”! “If I walk away the bank will have more carrying costs”! True. “They’ll have to put it back on the market, maybe they will end up with less”! True. “It doesn’t make any since that they would do that”. True. “It’s a bad business decision”! True. And I’m sure you can come up with a few more reasons why a bank should respond to a buyers demands and threats of walking away. But the bottomline is you are not dealing with decision makers that have skin in the game! They don’t care about the deal and that’s the hard reality!

So, go into your purchase of a short sale knowing it’s going to be a ride! I’ve seen short sales approved in as little as 30 days, and one that took over a year. However the one that took a year was back in the early days of the housing crisis when the bank were still training people to process them. The problem then was not the process but the shear number of short sales in the pipeline at that time. It’s not like that now, however we have all know change happens, so who knows what tomorrow will bring!

A Recent Experience

The Actual Short Sale Sold by Waverly Byrd — Actual Short Sale Home Sold By Waverly Byrd

The last short sale we did was just a few months ago. Waverly Byrd on our team had a client that bought a short sale in North Charleston that took about 3.5 months to close. The contract was ratified on January 22, 2020, the short sale was approved on February 20, 2020 and closed on April 3, 2020. The processing of this sale was fairly quick because the seller had two previous contracts that fell apart. However, we had counseled our client well in the beginning, so they knew what to expect when buying a short sale. They were in this for the long haul and their efforts were rewarded!

We were told that in both cases the buyers walked away from those sales because they either were not, or could not be patient and wait for the short sale to be approved. So my conclusion is that the agents representing them didn’t have the experience or skills to advise them properly from the start. We’ve found is that when we help our clients understand what to expect, positive results will follow. Consequently, our client bought a nice brick home on a lake for $270,000 that comped out in the $350,000 range! Not bad! Patience was rewarded and Waverly helped our client get the deal that the others left behind!

If you’re not ready and willing to make or pay for repairs, you probably shouldn’t buy a short sale.

Not that all short sales are in bad shape but you should be ready for repairs just incase. You see, often short sales are sold “as is”. Meaning, it doesn’t matter what your home inspector tells you about the homes condition. In most cases the bank will not authorize money for repairs. So our best advice is to have some money set aside for a few improvements once you take possession. Keep in mind as I mentioned in the beginning of this article, sellers of short sales are typically not maintaining their homes.

5 – When Buying A Short Sale – Your Lender

The most important thing to know regarding your lender, is how they will handle any appraiser required repairs if they come up? Most lenders will not lend on a home that doesn’t meet certain condition guidelines established by their underwriters.

Let say the appraiser notices some typical deferred maintenance, like rotten wood siding and chipping paint on the home. The appraiser may require this to be corrected before they will give you the money to close! In most short sales, the seller has no money for such repairs. Then the bank, that’s eating the loan, may not authorize funds for such repairs! What do you do?

In this situation, it’s not advised that you spend your money to repair a house that you don’t own yet. And unless you have enough cash to buy the home without getting a loan, the deal could fall apart. In some cases there may be way’s to save transactions like this but not always. Keep in mind every situation is very different and having the right real estate professionals guide you is very important.

Pay Cash

So there are two ways to avoid this situation. One is to pay cash. Not everyone can do this, so what do you do? The best practice is to look closely at the condition of every home you consider purchasing. And with our guidance we can give you a good idea of whether or not a bank will lend on it. Sometimes you’ll just have to pass and move on no matter how good the deal looks. If you can’t get the money or don’t have the money, it make no sense to pursue a damaged home.

The Rehab Loan Solution

There are a few lenders out there that do rehab loans for homeowners and investors. We have access to several. What you will find though is that these type of loans come with a cost. Typically they will have higher interest rates, more upfront fees and many will have inspection fees. This is because this is what is considered a non-conforming loan and is seem as having a higher risk to the lender. In the past many of our clients have not gone this route due to the added expense.

Our recommendation is that you do your research ahead of time so you completely know the in’s and out’s of this type of loan product before you’re under contract. This will save you time and in the heat of the battle of buying a new home, time is precious.

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Conclusion

So in conclusion, when buying a short sale you can insure your success a couple of ways. First of all, hire the right real estate professional to help you. (We would like to apply for the job!) Have them help you do your homework on the market. Follow our 8 Steps to Buying a Home and follow the guidance of your agent. Lean on local professionals for advice, from Lenders to Home Inspectors and others. Lean on your agent. Your agent has a trusted network of professionals that service every type of need in a real estate transaction. And most of all be flexible, it will be your greatest asset!

Our team’s goal is that you have the most successful experience working with us that you rave about us to your friends and family! And when they need real estate service you refer them to us! This has been the cornerstone of my business since 1986!

If you are planning to buy or sell a home in Charleston, I can help! Call Bill Byrd at 843-972-7670 for a free, no obligation consultation.

The Author…

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Charleston Real Estate Defies The Experts!

05/08/2020 by billbyrd

May 8, 2020 (for updated report click…Charleston Mid Year Market Report)

Confused Expert. Charleston Real Estate Defies The Experts!

Yes, that’s correct, the Charleston Real Estate Market Defies The Experts! This week and last week real estate sales in the Charleston area posted spectacular weeks of sales! This completely defies the experts that were predicting doom and gloom for our market. Ranking as a couple of the best weeks in Charleston Real Estate History, for some this goes against all conventional wisdom! Imagine that, all while the world was sheltering in place, we are posting all time numbers. In fact many sales are seeing quick sales and multiple offers from competing buyers.

With that said I applaud our local leaders for having the foresight to declare real estate activity as an essential service. Clearly they know that real estate activity historically has been a leading indicator for economic activity. Just think of all of the businesses and folks those business employee that are involved in a real estate sale? From Sign Companies and Home Inspectors to Attorney’s, Termite Company’s, Hardware Stores, Insurance Agents and many more benefit from the ripple effect of a sale of real estate.

Key Numbers From Last Week.

As Charleston Real Estate Defies The Experts, here are the key numbers. Last week according to the Charleston Trident Association of Realtors Multiple Listing Service:

442 Residential Properties Went Under Contract
342 A Total Of Single Family Homes
21 Sales On James Island
13 Sales On Johns Island
34 Sales In West Ashley
21 Homes Sold In North Charleston
38 Sales in Mt Pleasant
79 Properties Sold In The Summerville/Ladson Area
93 Sold In The Hanahan, Goose Creek and Moncks Corner Areas
6 Homes Sold On Seabrook Island
9 Homes Sold On Daniel Island
5 Homes Sold On The Isle of Palms
And A Total 91 Townhomes And Condos Sold In All Charleston Area Markets

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Will Charleston Real Estate Continue To Defy The Experts!

Only time will tell. We still have a long way to go however we are off to a great start! So hopefully all of the stimulus being pumped into the economy and low interest rates will make a difference. It all hinges on whether or not the folks on the edge will be able to make it through.

What We Will Be Looking For?

Buyer Demand, will it remain high?
The Default Rate, will it stay low? Or will people short sale their homes of lose them to foreclosure?
Home Inventory, will the inventory of homes for sale rise or fall?
Transplants From The North, will more people from the larger more effected cities by the pandemic head to South Carolina?

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As Charleston Real Estate Continues To Defy The Experts, What Do We Need Now?

This may surprise many people, we need more home sellers putting their homes on the market? The numbers don’t lie. Demand is high and supply is low it’s simple economics! We also have strategies in place to help keep our clients safe in the current environment. So if you or any one you know is thinking about selling a home let’s talk. Let us show you how we can help you safely sell your home in this market and get top results!