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USCJoe, thanks very much for the 2 charts you provided in the beginning of this thread. I was wondering if there is any possibility of presenting a chart of homes in the 'middle range' of say 400k - 600k list price?
The first chart has an average home price of about $200K, while your second chart has an average price of $1,200,000 - kind of the top and bottom of the market. Hate to be selfish, but since I'm looking in the middle of the market, can a corresponding chart be generated?
Thanks so much.
Emilybh listed something called a Master Auction List, which I have never seen before. I assume these are houses which have gone through the lengthy forclosure process and are put up for auction. My question is: can someone get a better deal at one of these auctions, as compared to a short sale? My guess would be: generally no, since short sales go for a price lower than the mortgage balance while forclosures auctions always(?) start at the full mortgage balance owed.
The first chart has an average home price of about $200K, while your second chart has an average price of $1,200,000 - kind of the top and bottom of the market. Hate to be selfish, but since I'm looking in the middle of the market, can a corresponding chart be generated?
Thanks so much.
Sure thing, easily done. Price range 400k-799k, single family, Mt. Pleasant.
Here is a 2 year chart for single family sales in the tri-county area. Don't know whether you want this or the one DJ posted.
quote=peihong33;11410149]USCJoe, thanks very much for the 2 charts you provided in the beginning of this thread. I was wondering if there is any possibility of presenting a chart of homes in the 'middle range' of say 400k - 600k list price?
The first chart has an average home price of about $200K, while your second chart has an average price of $1,200,000 - kind of the top and bottom of the market. Hate to be selfish, but since I'm looking in the middle of the market, can a corresponding chart be generated?
Thanks so much.[/quote]
I think with the market changing so much that it is important to look at only recent sales --within the past 60 days or so. I have found by looking at the recent sales for Charleston and surrounding areas that sales have slowed down a LOT especially in October where they have practically come to a screeching halt. (People buying properties based on what someone paid for a similar property 6 months ago or a year ago are throwing money away.)
Although it isn't 100% accurate, both Trulia.com and Zillow.com can give you a general idea of what is selling and for how much. Then you can go to the Charlestoncounty.org website and look up a particular property to see if it did indeed sell for the amount listed on the website.
For example, the Trulia link below shows homes in Charleston with 2 bathrooms and at least 1250 square feet of living space that sold for under $300k and only 13 did in October.
You can also look at the overall trends which I think are interesting. This link shows that listing prices are down about 10% in just a month and the median sales prices are down about 7% in just one month. You can also look up towns and neighborhoods within Charleston which may be doing better or worse. Or you can click on a property and look at the sales history. This nearly 3000 sq. foot property sold for $300k this past Sept but in 2006 sold for $406k .2713 Fox Trot Road, Charleston SC - Trulia
I don't know about Charleston but many houses here that go to auction do not go through any foreclosure process. They go right to the auction list. We have a number of houses in this area that were never listed for sale -- just popped up on the auction list one day. Happened to a family I know. They left their house and the bank didn't even try to sell it.
A HUD home is a home that has been repossessed by HUD when a home buyer defaults on an FHA loan. The government pays off the lender and HUD takes possession of the home to be auctioned off down the road. HUD generally will post a notice in the window of the home that has been foreclosed on. In my many years of selling homes in the Charleston area, particularly in Mt. Pleasant I have noticed only a handful of posted foreclosure notices in Mt. Pleasant.
Up until what period? Just in 2009 I've lost count of the number of foreclosure notices posted on doors of upper end homes in Dunes West, Hamlin Plantation, Park West, Rivertowne, etc....
Isn't almost entire Watermark development are foreclosed or auctioned??? SC foreclosure is by judicial only. Some Realtors here that have a law degree here. Could you tell me does this mean that all loans are recourse? and the only way to get out is through a personal bankruptcy?
All I know is that SC foreclosure process usually takes one to two years or more that's for sure!
As the majority of my clients are looking for or considering homes in the communities you have mentioned and I am out almost on a weekly basis showing or previewing property, I suspect that unless one were an active Realtor or an active appraiser, which I suspect you are not, it would be difficult to have the opportunity, time or reason to be out and about in these neighborhoods to view HUD notices posted on the windows or doors of upper end homes more so than I or any other active Realtor. As I have certainly been wrong in the past, I can certainly be wrong in this instance. I would like to hear from other Realtors who spend a good bit of time in the neighborhoods you mentioned as to their observations in observing a large number of HUD notices particularly in the upper priced homes. As most of the upper end homes in Dunes West are situated on large lots with the front doors and windows generally out of sight from the street, I would be surprised if you or anyone including myself would be able to identify those upper end homes with posted notices without trespassing and/ or having permission to be on the property.
Quote:
Originally Posted by Flat2MT
Up until what period? Just in 2009 I've lost count of the number of foreclosure notices posted on doors of upper end homes in Dunes West, Hamlin Plantation, Park West, Rivertowne, etc....
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