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Affordable Home Prices in the Goose Creek and in the Charleston SC area make it a Great Opportunity for Move-Up Buyers to Buy a Larger Home.
The existing home inventory for larger homes in the Goose Creek and in the Charleston SC area has definitely pushed home prices down to levels, where it is affordable for move up home buyers to buy. With the larger inventories of homes in the move up home buyer price ranges, there are a lot less home buyers looking to buy. From the home buyer perspective, this could be tremendous opportunity to get a great deal on a home. Unfortunately for the home seller, it may be necessary to sell their home at price lower than bought a few years ago.
Housing more affordable for ‘move-up’ buyer
Study shows national prices are down 30 percent from peak levels
updated 11:35 a.m. ET, Wed., Sept . 23, 2009
Welcome to Grayling, Mich., where residents paddle canoes through town on the winding AuSable River, ride snowmobiles on forest trails and take scenic walks among 150-year old trees at Hartwick Pines State Park.
The former logging town ensconced in the woods of central Michigan owns another distinguishing trait, according to a Coldwell Banker study: Grayling's 6,500 residents live in the nation's most affordable housing market.
The real estate firm on Wednesday released its annual survey of the price of a 2,200-square-foot home with four bedrooms, 2 1/2 baths and an attached garage.
Comparing homes that meet those criteria in more than 300 markets, the lowest average price was in Grayling, where such a house costs about $112,000. On the other end of the spectrum lies the San Diego neighborhood of La Jolla, Calif., where a similar home costs more than $2.1 million.
The study's results also show that homes matching the study's criteria are becoming more affordable. About a third of the markets in the survey boast an average price below $200,000, the highest number in the past five years. Nationally, prices are down 30 percent from their peak in mid-2006.
The type of property used in the survey represents a "move-up" home, bought by someone who wants a larger place to live because of lifestyle changes, such as a new job or having children.
These buyers often need to sell a home before moving up, a dicey proposition during the housing recession. But the first-time homebuyer tax credit of up to $8,000 has spurred sales of homes in the lowest price ranges, allowing sellers to become "move-up" buyers. Buyers are getting more for their money because of low prices and attractive mortgage rates.
"This represents a unique opportunity for move-up buyers to get back into the market," said Jim Gillespie, president and CEO of Coldwell Banker Real Estate.
To read the rest of this article, http://www.msnbc.msn.com/id/32983790/ns/business-real_estate/
Charleston, Goose Creek, & Hanahan Real Estate For Sale
Matt Naumann – Charleston & Goose Creek, SC Real Estate Agent & Entrepreneur
"Taking Real Estate Home Buying, Investing and Selling to the Next Level" is my personal goal. I specialize in using creative strategies to help my clients buy, invest, or sell real estate in the Charleston & Goose Creek, SC Real Estate Market. My motto is “There is always a way!” Google or Call me (843) 818-9898 and let’s discuss how I can help you in save $1,000s when you buy, invest, or sell real estate.
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