Red Bluff Plantation

Red Bluff Plantation, located on the New River in South Carolina, yet only 15 minutes driving time from Savannah or Palmetto Bluff, is an historic Lowcountry example of irreplaceable quality. Its unsurpassed long vistas of river, marsh and hammocks, a fabulous main house, hunting amenities and infrastructure, combined with pedigreed authenticity make Red Bluff Plantation the most unique and rare gem on the Atlantic Seaboard.

Click here for more details on this amazing property.

Low Offers: Prevention is the Cure

It takes an innovative marketing plan to cause a home to sell, but to attract serious buyers, it must also be priced fairly. What else must be done to successfully sell your home?

Buyers are in search of their dream home. If priced reasonably, they will purchase the home that best reflects their idea of that dream, and it’s the sellers who are in charge of making it happen.

Experience has shown that buyers often reduce their offers by as much as $2 for every $1 in uncompleted repairs. Sellers won't have to face those disappointing offers if attention is given to their home before it is ever shown.

The best method for improving buyer appeal is a "walk-through" by the sellers' real estate agent. The agent plays the part of a prospective buyer, and then suggests upgrades, repairs, and cosmetic improvements.

Then the sellers should complete all the work before the home is placed on the market. Neither a prospective buyer, nor another agent, should ever see the home until it is in 100% marketable condition.

Excuses made at a showing are an open invitation to a reduced price. When a buyer is disappointed, no explanation will suffice to bring the price back up. When selling, ask your agent for advice, and then take action. Buyers will often compete for such a good value.

Fast Acting Relief

Our federal government passed the First-time Home Buyer Tax Credit last summer, giving buyers reason to get off the fence and into a home. There are just a few requirements, the first being that you haven't owned a home in at least three years.

If so, and you bought a primary residence in the United States last year after April 9, you may claim a credit of up to $7,500 on your 2008 tax return. If you plan to buy this year, then act quickly, because you'll need to purchase by July 1 to make the claim on your 2009 return.

The credit is figured as ten percent of the home's cost, up to the maximum of $7,500, if your individual income is less than $75,000 or household income is less than $150,000. At slightly higher incomes, you may claim the credit at a reduced percentage.

Keep in mind that this is not a "bailout," and in order to be cost effective for taxpayers, this credit must be paid back in very small increments over fifteen years, but not beginning until 2011. Basically, it's an interest-free loan for a fifteen-year term.

This incentive, combined with low rates, large inventories, and affordable prices, should put a home purchase well within your grasp. Get more details from a trusted real estate agent and begin your search today!

A More Profitable Alternative

You’ve probably heard the term "reverse mortgage," which refers to a loan that allows homeowners aged 62 and older to tap the equity in their home, without repaying it. This has become an increasingly popular way for retirees to generate extra income for living expenses and paying off debt.

However, high fees and aggressive sales tactics prompted the Senate Special Committee on Aging to recently issue an investor alert. The intention behind the warning is not to discourage reverse mortgages, but rather to encourage homeowners to make sure it's the right loan product for them.

The biggest downside to such an agreement is that the up-front costs for application, legal fees, document recording, and loan origination fees can sometimes top 10% of the loan's value. For this reason, the federal government requires meeting with a financial counselor prior to applying for a reverse mortgage, helping ensure that it's the best loan product for your situation.

In addition to a financial advisor, you are strongly encouraged to consult with a local real estate agent. Simply put, you might generate more income by selling your home and moving to a less expensive one, directly pocketing the equity you've worked so hard to build over the years. An agent can compare your home's value to other attractive properties on the market, and guide you to a profitable conclusion!

Why We Saved Fannie and Freddie

Fannie Mae and Freddie Mac - who or what are these entities, and why are they mentioned so often when discussing the current mortgage crunch? These two organizations either own or guarantee nearly half of all outstanding home loans. That's over twelve trillion in debt (that's a 12 followed by 12 zeros, or twelve million million dollars)!

So maybe you can see why the government took over and began overseeing their operations, bringing stability and continued liquidity to the national mortgage market. Both companies are placed in a government conservatorship, with the Fed taking up to an 80% stake. Progress is reviewed each quarter, and money injected into operations as needed.

Since the government is now explicitly backing the loans, the market for these securities is more like that for Treasuries, which lowers rates and benefits the real estate industry enormously.

Lower rates encourage more investors to return to the market. As that happens, rates continue to drop, and more funds go into the lending machine, further encouraging buyers to apply for financing. The result is increased housing sales, which helps to stabilize home prices.

As these companies and the Federal Housing Finance Agency plan a massive overhaul of operations, you can be assured that agents and the National Association of REALTORS® will provide feedback and help shape a better future for our housing industry.