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My family and I are tossing around the idea of moving to Charleston from Missouri with Boeing I am a current employee. Can anyone help me with these factors? I have been browsing some real estate listings and really like the Mt. Pleasant area due to the school and looks very family friendly.
-To calculate the yearly real estate tax on a property it is .5% X value of property?
-What is a safe amount for home owners insurance?
-How would the commute be from Mt Pleasant to the Boeing plant?
-My wife is currently a teacher? How can I find teacher job listings?-she
currently has a masters degree in teaching and is certified in Missouri, will she need to get re-certified in SC?
-How is the real estate market in Charleston? What is the average difference between what a house was listed for and what it actually sold for (spread)? curious.
-Any good real estate search websites suggestions? (sites that will show you the property tax and homeowners yearly fees)
appreciate the help
Last edited by reddog1473; 09-06-2011 at 10:05 AM..
My family and I are tossing around the idea of moving to Charleston from Missouri with Boeing I am a current employee. Can anyone help me with these factors? I have been browsing some real estate listings and really like the Mt. Pleasant area due to the school and looks very family friendly.
-To calculate the yearly real estate tax on a property it is .5% X value of property? This is not a easy number to calculate since it is different if you are a full time resident or investor, most county websites have a link to calculate property taxes.
-What is a safe amount for home owners insurance? depends greatly on location and house price
-How would the commute be from Mt Pleasant to the Boeing plant? 35~45 minutes depending on what part of MtP.
-My wife is currently a teacher? How can I find teacher job listings?-she
currently has a masters degree in teaching and is certified in Missouri, will she need to get re-certified in SC? Yes she will have to recertify, you can look at each county districts website for currently job listings.
-How is the real estate market in Charleston? What is the average difference between what a house was listed for and what it actually sold for (spread)? curious. Serious buyers market lots of forclosures and short sales..
-Any good real estate search websites suggestions? (sites that will show you the property tax and homeowners yearly fees) Plenty of realtors on this site to point you to their site, I am not one so I just look at Realtor.com...
OleTomCat did a pretty good job answering all of your questions. I can add a few extra hints. Most Realtors have websites that show you the areas MLS. All the search results should bring you every listing available in the area your searching (not just the realtors) Also on the listings (when you search MLS) there is usually the taxes listed or you could, check the tax record. If the Taxes seem high they may be taxes at 6% ( nonresident or investment home) instead of 4% (resident). Once you find a Realtor they should quide you through taxes, insurance etc because it varies by area and age, size of home. As far as actual sales price I always do a Market anaylisis for my buyers so they can see actual sold prices and that also varies depending on neighborhood. Since I live in Mount Pleasant, I specialize in Mount Pleasant and recommend also allowing a budget for flood insurance it can run from $300 to thousands of dollars a year.
Many of our Boeing Clients have chosen Mount Pleasant as their new home as well as Summerville and parts of North Charleston. From Mount Pleasant, I have driven to the Boeing complex in 25 minutes and it can take 40 minutes really depends on traffic/time of day.
Hope this helps.
Remember to have about $5000.00 for deposits (gas, electric, water, sewer, garbage et el) and inconsequential expenses above and beyond what you think you will need..moving costs plenty..even when/if a company pays for your move
People get confused figuring out our property taxes. Property taxes on a home you live in (as opposed to a second home or rental) is calculated by multiplying fair market value x 4% then multiplying that number by millage rate. For example if you have a $100,000 home the 4% value is $4,000. If the millage rate is 245 you'd multiply the $4,000 x .245 for a tax of $980 but this is not the end. There are limited school taxes on property so a credit is then given against this. Then add any municipal fees like storm water & sewage.
Another example, I picked one from my county at random (no not my house). A $138,842 house was assessed at $5,560. Millage is .28280. Calculated tax is 1572.37 . Sewer fee was $45.60 and storm water was $25.65. They also had sanitation of $150 which you only pay if City provides trash collection. They received a homestead credit of $335 (for over 65 if you apply for it) and a school credit of $641.07. They paid $817.55.
For homes that are second homes or rented you'd take 6% of the home value instead of 4 and you wouldn't get the homestead or school credit. So in above case your taxes would be $2577 for this particular house.
Since millage as well as fees these figures only give you an idea of how taxes are calculated.
From the northern extremes of Mount Pleasant it takes me 40 minutes to drive to Genn McConnell every morning. Boeing will be 5-10 minutes short of that.
A Realtor told me just yesterday that Mount Pleasant is currently in a seller's market not a buyer's market. Not saying that I believe that, but conveying the message I was given.
People get confused figuring out our property taxes. Property taxes on a home you live in (as opposed to a second home or rental) is calculated by multiplying fair market value x 4% then multiplying that number by millage rate. For example if you have a $100,000 home the 4% value is $4,000. If the millage rate is 245 you'd multiply the $4,000 x .245 for a tax of $980 but this is not the end. There are limited school taxes on property so a credit is then given against this. Then add any municipal fees like storm water & sewage.
Another example, I picked one from my county at random (no not my house). A $138,842 house was assessed at $5,560. Millage is .28280. Calculated tax is 1572.37 . Sewer fee was $45.60 and storm water was $25.65. They also had sanitation of $150 which you only pay if City provides trash collection. They received a homestead credit of $335 (for over 65 if you apply for it) and a school credit of $641.07. They paid $817.55.
For homes that are second homes or rented you'd take 6% of the home value instead of 4 and you wouldn't get the homestead or school credit. So in above case your taxes would be $2577 for this particular house.
Since millage as well as fees these figures only give you an idea of how taxes are calculated.
Didn't I say all that in a really simple one line answer?
It is a very complicated number to calculate, nuff said...
From the northern extremes of Mount Pleasant it takes me 40 minutes to drive to Genn McConnell every morning. Boeing will be 5-10 minutes short of that.
A Realtor told me just yesterday that Mount Pleasant is currently in a seller's market not a buyer's market. Not saying that I believe that, but conveying the message I was given.
Mount Pleasant is still averaging 13-14 months of inventory for single family detached homes. That's not a Seller's market. 6 months of inventory or less is a Seller's market. Mount Pleasant is going to be a Buyer's market for quite some time. Some neighborhoods in Mount Pleasant may beat the above average, that always happens, but it's not indicative of the overall market.
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