Posts by : Alan Donald

SMELLY AFFAIRS

The sense of smell is a powerful motivator. When prospective buyers walk into a house, their senses are alert to take in any visual, audio or smell stimuli to form that “first impression”.

It is well known that buyers respond more positively if they smell freshly baking oatmeal or chocolate chip cookies instead of the lingering odors of mold, cigarette smoke or a household pet. 

Because you are used to it, you may not notice odors that visitors are aware of as soon as they walk in the door. When your house is for sale, ask a friend or neighbor to give it a "sniff test". If they notice any odors, you bet potential buyers are going to notice them too! The presence of...

About Reverse Mortgages - Now You Can Use Them to Purchase a Second Home

Similarly to a "normal" (or forward) mortgage, your home is used as the collateral for the lender, except that in an RM the lender pays you, instead of you paying the lender!

There are three types of reverse mortgages:

• FHA-insured - called  Home Equity Conversion Mortgage (HECM). 
• Lender-insured and
• Uninsured

Borrowers can elect to receive a combination of monthly payments, lump sum or a line of...

We picked up these myths from Experian (the credit reporting bureau) and thought they would be interesting to share:

Myth #1: Checking my own credit report will lower my score
Personal inquiries, also known as "soft inquiries" or "below the line inquiries," are not visible to lenders and therefore are not part of your credit score calculation. So you can rest easy—checking your own credit report or score does NOT negatively impact your score.

Myth #2: Applying for new credit will actually lower my score
This depends on the type of credit you're applying for. If you apply for several credit cards within a short period of time, the number of inquiries will go up, which could drop your score...

In a previous "Seller's Market", if a contract with the first Buyers fell through, nobody on the Seller side cared or worried: They would just release the contract and most probably negotiate a better price with the next "backup" contract that was lined up to take its place, given that the property was aged on the market a few more weeks and prices were going up fast...

In a "Buyer's Market" one of the most critical services a REALTOR® can provide, is his/her ability to "keep the deal together" until closing. Many Sellers believe that once the contract is signed, it is a binding commitment on the Buyers, but this is not always the case.

With many options to choose from, Buyers may keep ...

Yesterday HUD released changes to their FHA mortgage lending practices:

1. They consolidated their pricing for the two reverse mortgage programs Standard Fixed-Rate Home Equity Conversion Mortgage (HECM) and Saver Fixed Rate HECM
2. They increased their Mortgage Insurance Premiums by 0.1% for normal loans and by 0.05% for jumbo loans ($625K+), and extended the payment over the whole life of the loan (i.e. borrowers no longer can automatically drop paying MIP when their equity reaches 22%)
3. FHA will now requiring Manual Underwriting on Loans with Decision Credit Scores below 620 & DTI Ratios over 43 Percent
4. FHA raised the minimum down payment on Loans above $625,500 from 3.5% to 5%
5. They wi...

"Alan helped me short sell my condo in South Carolina while I was living in California before short sales were common. Together we created a marketing plan that was re-evaluated weekly until the condo sold.  Alan is an expert in his field, dedicated to his clients, and unique in his approach to getting results. I highly recommend Alan to anyone putting their home on the market."

Karen Caruso

Top Qualities: Great Results, Expert, High Integrity

“Alan is a truly fantastic Realtor. He is ever conscious of the needs of his clients, whether they are buying or selling a home. His knowledge of home construction and the typical defects that come during construction and through years of wear are very helpful to his Clients. I have worked with Alan on numerous home transactions and I have found him always to be very professional and enjoyable to work with. Alan is the type of Realtor who devotes a lot of time to each of his Clients, never hesitating to go out of his way to provide them excellent service. He is exactly the type of Realtor I would want if I were selling or buying."

Robert Knowles, PE
Knowles Inspection Services
January, 2013

Mount Pleasant, SC Residential Real Estate Market Update

The residential real estate market in Mount Pleasant, SC continues to strengthen, as inventory continues to shrink and demand continues strong, fueled by low interest rates, attractive property prices and underlying demand resulting from the perceived quality of the public schools, convenient location close to Downtown Charleston, Boeing and the beaches, and great lifestyle. 

The volume of annual sales in Mount Pleasant continues to grow (the number of homes sold per year has grown by about 52% since 2009).

This increased demand, combined with the limited supply (very few new construction homes have been built since 2006) has c...

TOP DOGS IN BELLE HALL!

The Alan Donald Real Estate Team at Keller Williams Realty was the TOP SELLING TEAM in Belle Hall Plantation (Mount Pleasant) in 2012!

Here are some of our landmark transactions:

208 Mossy Oak Way. Sold for $255,000 after just FOUR DAYS on the market. This sale established a RECORD PRICE PER SQUARE FOOT ($179.32) for its section of the neighborhood.
 

108 Historic Dr. Sold AT LIST PRICE ($325,000) after just TEN DAYS on the market.

184 Revolution Dr. Sold for $311,000 after FIVE DAYS on the market.

444 Jardinere Walk. Sold for $370,000 (ABOVE LIST PRICE) AFTER JUST TWO DAYS on the market.

467 Old Carolina. Sold AT LIST PRICE ($292,000).

204 Mossy Oak Way. So...

Belle Hall Plantation: Average Prices Going Up!

The real estate recovery that started last November is going strong!

This chart from the Charleston Trident MLS shows that the AVERAGE price per square foot in Belle Hall Plantation went up this year in all price points!

To find a home in Belle Hall, please call us on 843-900-0155. We are aware of several homeowners who may want to sell in the coming months...

For more information on Belle Hall in Mount Pleasant, please visit our neighborhood website at www.MyBelleHall.com. We know Belle Hall Plantation!