Homes Fort Mill SC

National home sale contracts off 30 percent in May 2010 compared to April 2010 as reported by the National Realtor Association. Not a big surprise based on the fact that the home buyer tax credit deadline was April 30th. So how did Tega Cay home sales do for the first half of 2010?

I broke home sales out by two periods. The first period is January thru April 2010 compared to the same period in 2009. The number of Tega Cay SC homes sold was up 27% or 19 homes sold compared to 15 in 2009. The sales price to list price was up one point from 95% to 96%.

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I meet with Liz Ciardi,  Home Mortgage Consultant with Wells Fargo Home Mortgage, this past week . She past on timely information about the Home Buyer Tax Credit that expires in April. The following is a summary of the Wells Fargo Home Mortgage Tax Credit information brochure:

Seize This Opportunity

Little time remains for you to take advantage of the Federal Home Buyer Tax Credit. Along with high affordability and low mortgage rates, tax incentives make now a great time for first-time and repeat buyers to purchase real estate. It also presents a good opportunity for sellers. Now is the time to make sure your home appeals to motivated buyers. (more…)

Since we are coming to the close of the 2009 year, I prepared an analysis of home sales in Tega Cay SC comparing total home sales in 2009 to home sales in 2008. Although there are a couple weeks left in 2009, there will not be many closings occurring before the new year to significantly impact the 2009 sales numbers.

I have split Tega Cay homes sales into two categories. The first split is homes sales under $400,000. The second split is home sales over $400,000. I split the analysis in these two groups because the majority of the activity in Tega Cay and in the Fort Mill area is occurring with home sale transactions below $400,000.

Tega Cay Homes Sold Under $400,000

77 homes sold in Tega Cay 2009 under $400,000 compared to 97 homes in 2008. (more…)

Its time for your May 2009 Tega Cay SC home sales report.

The data is for May 2009 single family home sales with a comparison to May 2008. The data is from the Charlotte MLS and the area is Tega Cay only which does not include communities like Baxter Village, Springfield, Knigthsbridge, and other Fort Mill communities.

May Tega Cay home sales increased in May from April. The number of homes sold in May 2009 was 7 compared to 4 homes sold in April.  Comparing May 2009 to May 2008, the quantity of homes sold was the same at 7. (more…)

Tega Cay Entrance Sign

Here is a single family homes sales report for the Tega Cay SC area.

The data is for April 2009 single family home sales with a comparison to April 2008. The data is from the Charlotte MLS and the area is Tega Cay not including Fort Mill, SC which includes communities like Baxter Village, Springfield, Knigthsbridge, and other Fort Mill communities.

In April 2009, 4 single family homes sold in Tega Cay compared to 9 sold in April 2008 (more…)

The term short sale is being used frequently in today’s real estate articles and discussions. A short sale is a strategy to stop the foreclosure of a home if all parties agree to this type of real estate transaction.  So here is more information on what a short sale is and why it’s become a widely used real estate transaction.

What is a short sale?
Wikipedia says …”When the proceeds of a real estate sale fall short of the balance owed on the property. In a short sale, the bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship on the part of the mortgagor. The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender, sometimes (but not always) in full satisfaction of the debt. A short sale typically is executed to prevent a home foreclosure.”

For example – If a borrower owes $200,000 on a mortgage and is in default. The lender may be willing to accept $170,000 for full payment of the $200000 mortgage. Why would a bank agree to this type of sale? The bank/lender can save money by accepting less money now compared to possibly losing more money using the foreclosure process.

So why is a short sale transaction happening more often? (more…)

Looking for foreclosures? Many investors and individual home buyers are taking advantage of the increasing number of foreclosures hitting the market. And there are other advantages to finding and buying a foreclosed home.

The York County SC area including Fort Mill, Tega Cay, Lake Wylie, Rock Hill has not had many foreclosures in the past but that trend looks like it might be changing. Now might be the best time to look for and buy a foreclosed home.

How do you find foreclosed homes? (more…)

One of the many services Carmen can offer her home sellers is a Obeo virtual tour program. Obeo’s home tour program is full of viewing features for potential home buyers.

If the Obeo program is selected, Carmen stages your home, she hires a professional photographer from Obeo to take high quality pictures of your home. Obeo then uploads the pictures to their virtual tour viewer.

Obeo’s virtual tour viewer offers; 360 panoramas room views, a movie version of the photographs, many high quality photo views, print brochures, and much more. (more…)