Posts by : Liz Loadholt

Can You Buy A House During COVID-19?

Buying or selling a home during the COVID-19 pandemic is not for the faint of heart, but yes, it is definitely possible.         

Here are some aggravating things about buying during the pandemic:

1.  It is difficult to actually tour the home -- this is probably the most aggravating one.
   1. Homeowners don’t want strangers in their home and buyers don’t want to go into places they don’t know.
2. Typically, Realtors don’t want the buyers to ride in the same car with them, so the buyers miss the opportunity to discuss the previous home seen with their REALTOR.
3. It is critical to get a very detailed virtual tour of the home if the buyer cannot actu...

Why do I have to indicate the source of the downpayment on a house?

One might ask why do I have to indicate the source of my down payment money when I am purchasing a home. When applying for a mortgage to purchase a home, the lender will need to know the sources of the down payment, closing costs, earnest money, and often times reserves. You will need to be transparent. 

1. If you receive money from a family member and put it in your bank account a month before applying for a loan, you might think there will be no issue because the money will already be in your bank account -- wrong.
2. The lender will require you to document the source of that money.
   1.  If it came from a family member,...

Why a Final Walk-through?

    What is the final walk-through? 

It is the time before the closing for the new buyers to walk through their new home with their REALTOR to be sure everything is the way it is supposed to be.

If repairs were Requested

If there were repairs to be completed on the home, those repairs should be checked out by the same home inspector who did the original inspection on the home. This will typically be done days before the closing. Then the morning of the closing, the buyers and their REALTOR should walk through the home. If at all possible, they should go on the day of the closing. If they go the day before and the house is empty, all kinds of things could...

I am Grateful

The definition of gratitude is a feeling of being thankful and appreciative. Mama Liz expresses her list of things for which she is grateful.

This is so powerful -- the law of the universe -- the law of attraction -- what goes around comes around. 

If you have not read The Secret, I highly recommend it.

Liz@agentownedrealty.com

Know Which Home Repairs to Request After Inspection

For this discussion, I am referencing The SC of Association of Realtors’ contract form SCR310. Once a buyer has had a home inspection, he/she should sit down with their REALTOR and go through the report thoroughly. With the guidance of the REALTOR, they will Know Which Home Repairs to Request After Inspection.

Now it depends on what type of Repair contract the buyer has ratified as to the type of repairs a buyer may ask request. Was it Repair Procedure, Due Diligence, or AS-IS?

Repair Procedure Contract --  A  Repair Procedure Contract limits the items that a buyer can request.

You may ask for:

• To place the heating systems, ai...

15 Questions for New Agents to ask a Broker before joining their Office

Once one has gone through the real estate school and passed their state and national exams, they are faced with the big question.  Where do I hang my license? Although you are really working for yourself, a real estate agent must work on behalf of a real estate broker. This decision could affect the direction of your career either positively or negatively.

There are many factors to consider when selecting your future home in real estate.

1. What type of training does the company have for new agents?
2. What kind of on-going training does the company have?
3. What is the culture of the office?
4. What type of marketing doe...

Analysis of Charelston SC residential properties going under contract(contingent) during the week of 7/10/20-7/16/20

502 residential properties under contract past wk. Tremendous!!                       

395 single family homes under contract past wk. Median LIST price $330k,$165/sqft. 3 under $100k. 32 over $1M, 12 of those over $2M, 4 of those over $3M. Median 16 CDOM. Median Yr Blt 2003

2(1%) of 347 single family homes under contract past wk BANK OWNED FORECLOSURES or SHORT SALES.  Another 9% new construction.  0 of 2 short sales in areas 31/32, 61-76

60 island single family homes under contract past wk. James-12, Folly-5($268k,$400k,$665k,$845k,$1.45M), Johns-10, Wadmalaw-4($2...

 Impact of Covid-19 on Real Estate in Charleston SC

Covid-19 has definitely had an effect on real estate.

 The inventory of homes for sale in the Charleston SC market was low for the area before COVID. However, now it is extremely low and it keeps going down. In 2006 there were roughly 10,000 homes in inventory and today, July of 2020, there are less than 4,000. All of the decreases are not because of COVID but have certainly contributed to it. Also, due to COVID-19, the buyer sales are off -- just not so much.  

Sellers have benefited from COVID.

Due to the low inventory, sellers have been able to sell their homes for more money than they would have before. Also, homes typically se...

Daily Walks

Daily walks are important for everyone.   This is something that I have intended to do for a long time.  But it took the COVID-19 to get me out of the house.

It just happens that I prefer the morning for my daily walks. I have read articles that say one shouldn't take the phone with them on their walks.  However, I do take my phone -- two reasons -- 1) to measure my steps to be sure that I walk that mile and 2) just in case one of my agents really needs to talk with me about a contract issue or my family needs me. My phone does not distract me from relaxing -- it kinda keeps me more relaxed knowing that if someone needs me, I will be there for them. 

1) Walking is fr...

The broker-in-charge is key to the success of a real estate office. The characteristics of a good broker-in-charge are:

1. Sincere
2. Honest
3. Caring
4. Dependable
5. Knowledgeable
6. Excellent Negotiator
7. Excellent Closer
8. Positive -- upbeat
9. Available 24-7 for his/her agents
10. Coach   

Things that you don't want to hear from your Broker-in-charge

1. Sorry, I can't talk to you until I finish what I am doing.
2. Don't call me after 6:00 pm --- problems come up after 6:00 pm
3. Don't call me  before 9:00 am --- problems come up before 9:00 am
4. The new contract form is so confusing - I don't understand it at all.
5. I don't know -- when you have asked a very simple question that any knowledgeable Broker...