The Charleston Real Estate Advisor

Photos: The Key to Capturing Buyers Online

Point to Agent completed a study in 2008 clearly demonstrating that online buyers want more photos and that the buyers look for homes online that have more photos.  Here are their key findings:

• Online buyers clicking away from listings with fewer photos - Double the interest and 200 percent jump in leads indicate photos key to help move real estate
• Compared to listings with only one photo, those with 21 or more photos generated more than triple the number of Detailed Views, more than double the amount of Interest, and double the number of Leads.
• Views, Interest and Leads jumped 20 percent or more as the number of photos increased from 15 to 16.

In our local MLS there are 1504  resale homes (not new construction) with only one photo online (Ugh!).  My question is why?  What are the chances of a home selling with only one photo online?  I know some agents will say the house is not very pretty, but unless the house is a tear down shouldn’t there be more photos? What do you think?

Best Buy List December 28th, 2008 - Keller Williams Realty Charleston

The Keller Williams Realty Charleston Best Buy List for December 28th, 2008 has 3 new listings in Dunes West, The Elms, and Bushy Park.  To get on the Best List, the property has to be listed with Keller Williams Realty Charleston and be priced approximately 10% below the similar properties for sale.  The properties on the Keller Williams Realty Best Buy List sell at a rate 7 times greater than the properties listed on the Charleston area Multiple Listing Service (MLS).  For more information on any of these properties or other properties call me or email Jim@jimnear.com.

Keller Williams Realty November Real Estate in Review.

Great video on the November Real Estate Market Conditions.

Interest Rates Drop Again In Charleston SC

Current Mortgage Rates as of 12/19/08:

Bank of America is quoting mortgages rates on a 30 year fixed mortgage at 4.50% with 1 point.  The rates on 30 year fixed mortgages are at historic lows.  It is now time to buy!

Refinance Mortgage Rates:

Refinance rates for a 30 year fixed mortgage are now being quoted at 4.75% with 1 point.  If you have a mortgage in the upper 6% range it could be worth the time to refinance the loan. Call Jim Near for more information.

Why it is A Good Time to Buy Real Estate in Charleston SC

In the past few weeks, I have seen many signs that we have reached a bottom in the Charleston real estate market and it is now time to buy. Here what I am reading and seeing.

• Talk radio finance guru, Dave Ramsey is telling his radio audience this might be the best time in history to buy real estate.

• Jim Cramer of TheStreet.com, is calling the bottom for the real estate market. He previously was bearish on real estate.

• Interest Rates on a 30 yr fixed rate mortgage have dropped below 5%. This rate has not been seen since World War II.

• Housing prices have dropped below fundamental values nationwide.

• In Charleston, we are seeing bidding wars on distressed properties indicating a floor in home price values.

• The inventory of homes for sale in Mt Pleasant has quietly dropped by 20%! Mt Pleasant has been the leading indicator for real estate in Charleston and this is a positive sign for the Charleston Real Estate Market.

• December residential sales units are 25% greater than November’s. November 2008 appears to be the bottom for real estate sales in the Charleston area.

Here is what I recommend:

Start the applying for a new mortgage. The loan officers will start to back up when the word gets out. • If you are thinking about buying, narrow your search and make an offer. The best deals will go first. For a detailed report on “Why it is Time to Buy Real Estate Now in Charleston SC” send me an email at jim@jimnear.com and I will send you the report.

Jim Cramer: Bottom in the Real Estate Market

Jim Cramer talks about the about the Bottom in the Real Estate Market.

What do you think?