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A small maze.

Image via Wikipedia

I just read a post on Ronnie Bartles blog (http://www.bartlesandassociates.com/bartlebys-blog/2011/7/10/do-i-know-you.html) about the saga of Coco and her fiancée, first time home buyers. It made me stop and think about how things have changed over the past couple of years. Coco is not alone in her angst and customer service has all but disappeared. But there is hope!

My wife, Patricia, and I are Realtor*s and have helped a number of first time home buyers, and seasoned home buyers and sellers navigate through the real estate maze that is a fact of today’s market. We haven’t done this alone. We have a select group of service providers, that have mastered the maze, and we recommend them to our clients. As a team, we help our clients through the maze and bureaucratic red tape. No real estate transaction today is without stress, but we Team Up for Success and reduce the stress for our clients.

There should never be a reason for a home buyer to have to change agents, or home inspectors on any real estate transaction and then lose the deal after all is said an done. We cannot change the bureaucracy involved with bank owned homes, or short sales. But we can make sure that all the t’s are crossed and all the i’s are dotted. Team Up for Success is not just a slogan, it is how we approach our profession. If you have real estate needs, buying or selling, first timers or seasoned veterans, test us out! We want to Team Up for Success with you!

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Visit houselogic.com for more articles like this.

Copyright 2011 NATIONAL ASSOCIATION OF REALTORS®

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I did a little research this past week on the real estate market in Mt. Pleasant and learned a couple of interesting things about the Mt. Pleasant real estate market. In the local multiple Listing Service (MLS) Mt. Pleasant real estate is in two sections; properties south of Hwy 41, and properties north of Hwy 41.

The total number of homes listed for sale in all of Mt. Pleasant (both parts of MLS and both attached and detached homes) is 1159. This is a moving target, so the numbers will be different slightly this week. Of those homes listed there are 264 that are listed as contingent, meaning their under contract but area in the process of clearing those contingencies. Of these, some may not clear all contingencies and will return to the active status.  The numbers show about 18.6% of the listed homes for sale in both sections of Mt. Pleasant are under contract.

A Mt. Pleasant detached home

Looking at the Median Prices provides some additional information that can be telling. For the area north of 41, the Median Price for all homes listed is $450,000, while the Median Price for the homes that are contingent is $315,000. A difference of $135,000 below the Median Price for all Listed detach homes. For homes listed in the south area below 41 the Median Price is $469,950, while the Median Price for the homes that are contingent is $372,500. A difference of $97,450 below the Median Price for all listed homes.

Attached homes have a lower Median Price, but show a similar trend. In the north area above 43, Median Price is $212,200 while the Median Price of contingent homes is $199,000. In the south area Median Prices for all listed homes is $229,945 while the Median Price for contingent homes is $156,500.

Some attached homes in Mt. Pleasant.

In all cases, the Median Prices show that the homes under contingencies have Median Prices well below the Median Price for all listed homes, both attached and detached. Since these homes are active contingent, the Median Price reflects the listed price at the time the home was classified as active contingent in MLS. The actual price paid is not reflected in any of these numbers.

The take away is that in this market, homes need to be price aggressively or buyers will look to properties that are! Buyers have more choices and will not look at homes that are not aggressively priced. A professional real estate agent knows the local market and is in the best position to help their clients price their homes competitively for that market.

We are professional Realtors and know the market in Mt. Pleasant. If you have questions about real estate in Mt. Pleasant, or you are looking for help buying your next home, or selling your current home, call us. If you know someone who may have questions, have them call us. Patricia can be reached on 843-425-0953. I can be reached on 843-364-9509. You can also sign-up for the most comprehensive Market Snapshot available at our website at www.MarkandPatriciaFuchs.com.

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I started bike riding about 45 days age. How things change in 40 days! When I started I would ride around my neighborhood for 20-30 minutes. I took the same route most days so that I felt comfortable (and wouldn’t get lost!)

I thought I was doing pretty well those first few weeks. I could complete the ride without feeling tired, by I wasn’t actually enjoying the ride. I was riding because I had made a commitment to ride the 30 days in September. I remember that Kristin B. Walker told me that I just needed to ride every day for 30 days as part of 30 Days of Biking. It didn’t matter how far I rode, around the block would count. I just needed to get on that bike every day for 30 days straight. That was the hook! Initially I thought I would ride around the block. But I found that I couldn’t just ride around the block! I had put on my clothes and shoes, got on the bike, and I wasn’t going to waste that energy just to take a spin around my block!

A pleasant place on my ride.

If you followed me on Facebook or Twitter you know that in the beginning my posts/Tweets weren’t much more than a log of rides. Then I might have said something about the scenery. But I seldom talked about how I felt. I didn’t feel bad, but I didn’t know if I felt good. I was happy when the ride was done because I had notch another day off the commitment to do 30 days. I wasn’t paying attention to how my body was feeling…except for that seat! Why can’t bicycle seats be more comfortable? I finished my 30 day commitment on 10/4/2010 and I am still riding every day. Why?!?

How things change in 40 days! I’m actually liking this bike riding thing. In the last week I’ve noticed changes in my daily ride. I’m having to ride farther to keep to my 30 minute ride. I also noticed that I don’t change gears as much as I did in the beginning. I’m paying attention to the things I’m seeing in a different way and I’m enjoying the 30 minutes with just me. I feel happy after the ride, not because I’m finished, but I feel good.

I have fibromyalgia and osteo arthritis. As a result, I was in a lot of pain most days even though I have been on medications that are supposed to help. I had trouble sleeping because I could never get comfortable in bed. I tried walking, but my body did not like that very much. I had gone to the gym, but weight training was painful in my joints. Bike riding has allowed me to get some exercise and that is so important to relieving the symptoms of my ailments. Patricia, my wife, tells me about the endorphin rush she gets from exercise. I never felt that. Or did I? Maybe the endorphins are responsible for some of my pain relief. Whatever, how things change in 40 days!

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Cyclist Lance Armstrong at the 2008 Tour de Gr...

Image via Wikipedia

 

If you’ve read some of my previous blog posts, you know that I committed to something called 30 Days of Biking for the month of September, 2010. My friend Kristen Badger Walker had encouraged members of our company, Dunes Properties of Charleston,  to sign-up. The rules allowed you to count a ride even if it was just around the block. So I did, but I had equipment problems. My LandRider hadn’t been ridden much so Kristen recommended I visit Dan at TREX Bicycles in Oakland Plantation. I did and Dan got the LandRider in suitable condition to take on the challenge.  

September in the Lowcountry of Charleston can be a bit hot and this year September started out that way. I signed up on Thursday, 9/2 and my first ride was Friday, 9/3. It was hot and my ride was short. Not because of the heat, but because I started having second thoughts (my body did for sure). Saturday was already booked with commitments and that made it easy to skip my ride. My wife, Patricia, encouraged me on Sunday and that was the reason I got back on the bike. All of this is to explain how the count of Days and Rides seemed to be out of sync.  

I’ve been asked what I learned during my 30 Day commitment. That is a hard thing to quantify.  A lot of things were re-learning things I knew…bike riding is fun, commitments  are good to make but can be hard to keep, moderate exercise won’t kill you and may be fun, and riding alone in the morning can bring clarity to your thoughts! I learned that I can do what I set my mind to do, but that is often hard to remember in the middle of a commitment. I learned that my body wasn’t as committed to this as my mind was. I learned that even with the encouragement of my wife and other good friends, it was up to me to carry out the commitment. And I learned that Lance Armstrong doesn’t have to worry about me as a competitor!  

My first ride was about 20 minutes long. My average ride was 30 minutes. Yesterday I rode 10 miles in one hour. Today I closed the commitment with a 35 minute ride. None of my rides were less than 20 minutes. I just didn’t think riding around the block was in the spirit of the commitment…unless it was a really long block! I owe thanks to my support group Patricia and Kristen. I also want to thank my accountability partners on The Lowcountry Business Network, Twitter, and Facebook. They were dragged into the job, but many of them were very supportive by their comments.  

My plan is to keep on riding, but without the daily posting. There was something else I learned. At 6’3″ and 255lbs, I’m not the typical bike rider. I might need to reshape my image and that leads me to my next commitment. Age will reshape the height which means that I need to take on reshaping the weight! I am committed to losing at least 40lbs in 90 days. The clock started on Saturday.  

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I’ve read a lot about the real estate market overall and got to thinking about the business of real estate. While the reports in the news are national trends and may highlight a few locations that prove the report, the seldom, if ever, report on the real estate market in Mt. Pleasant, SC. The real estate market in Mt. Pleasant is not the same as the real estate market in Charleston, or North Charleston. So I thought I’d take a snapshot of the last three months using homes above 2500sf, with 4 bedrooms and 2.5 baths. I selected that size because many sections in the north part of Mt. Pleasant have covenants that set the minimum square footage that can be built. So this report is skewed to the north part of Mt. Pleasant. Here are the numbers:

  Total Highest Lowest Median
Sold Homes 61 $803,000 $155,000 $375,990
Homes For Sale 157 $2,499,000 $229,000 $375,000

The average selling price was 96% of the listing price at the time of sale. Of course, that is an important point…at the time of sales! The real estate industry looks at the age of a listing  and represent this by the number of days a property has been listed for sale. That is important because it may show that a property was listed at a higher price when it was first listed. Some may have had several price reductions before finally selling. The 61 homes sold during the last three months had an average number of days on the market of 492! How likely would you be to accept and offer of 96% of your listed price if your home had been on the market for 492 days?

Which of these products would you buy?

There are a couple of things that we can take from this information. We are emotionally tied to our homes,  ascribe value to that emotion and price our homes accordingly. I’ve done it and so have many other real estate professionals. It is a hard lesson to learn, but what was our home becomes a commodity when we list it for sale. It is a product at that point and needs to be priced to compete with comparable products. The 61 houses that sold were competing with the 157 that are also listed.

Listing your home is a business transaction. If you take the emotional part out of it, you have a product. Regardless of why you are selling your home, when you list it, it has the best opportunity to sell quickly if it is priced at or below the market, within the first month. After that first month it begins to age on the market. We know how to get homes sold and work as a team with our clients.

Email us for our free Market Snapshot. Patricia@MarkandPatriciaFuchs.com, or Mark@MarkandPatriciaFuchs.com. You can also visit our website and sign-up for our Market Snapshot. www.MarkandPatriciaFuchs.com It is the most comprehensive Market Snapshot available.

It is FREE! No obligation and no strings attached. Sign-up today!

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