In the past few months of this year there has been an increase in home sales as compared to earlier this year, due in large part of the First Time Buyer Tax Credit of up to $8,000. The tax credit was an unbelievable opportunity for first time buyers! GOOD NEWS....a bill has extended it to April 30th, 2010.

BETTER NEWS...it was EXPANDED TO INCLUDE CURRENT HOMEOWNERS, with a Tax Credit of up to $6,500. There are some stipulations - you must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years.

I believe that this new bill will give a continued boost to the real estate market and give people a good reason to move forward with selling and buying a home.

Best of All it's a great time to buy with the prices so affordable and the interest rates extremely low.

Here's a link that offers more detailed information to see how this new bill may benifit you:

http://www.realtor.org/home_buyers_and_sellers/2009_first_time_home_buyer_tax_credit

Below is a handy comparison chart of the previous bill and the newly amended bill:

It is a Great Time to be Buyer in Aiken, SC!

October 2009 Home Sales Data based on Aiken Multiple List System Data

The past month there was 97 home closing and total new listings of 211. Seventy seven percent of the sales where in the $200,000 or less range but there where 22 sales over $200,000 range with two very large home sale.  There was one sale in the $750,000-$999,000 range and one in the $1,250,000- $1,499,999 range and the other twenty home sales where in the $200,000-$500,000 range.

The average sold price range is $163,074 and monthly sales volume of $15,818,194

How does this compare to October 2008?

In 2008 we had only 5 more homes sell but the average sold price was $188,391 which is substantial higher than 2009. The sales volume was $19,027,487, 17% higher than 2008, which makes sense with the higher average sold price.

Trick or Treat on Newberry Street!

A safe alternative to trick and treating for children plus tons of fun for any age! I took my grandaughter last year and she loved it, especially the games! Even if you don't have your own little goblin to take to participate, its just fun to be downtown and see all the children's costumes...so head downtown Aiken this Saturday to feel the spirit and excitement of Halloween!

The City of Aiken Parks, Recreation and Tourism Department in collaboration with Aiken Downtown Development Association are excited to sponsor its third year of "Trick or Treat on Newberry Street"

This free event for children 12 years old and under will take place on Saturday October 31, 2009 from 5pm to 7pm dowtown Aiken at the Newberry Street Festival Center and will once again feature "Truck or Treating" where candy is given out from the trunk of a Halloween them decorated vehicle. Carnival games, inflatables, food, drinks and lots of candy will be there as well as a costume contest.

This year we will also have a trunk or Treat vehicle themed contest. Last year, over 3,000 people were inattendance and our hopes are to have as many or more come out to this family, fun-filled event.

Aiken Home Sales 3^rd Quarter 2009

The number of homes sales is up substantially in third quarter of 2009 by over 10% when compared to the second quarter of 2009. Interestingly with that amount of increase of homes sales you would expect the total dollar volume of residential sold number would be up close to that amount but it’s not! There was a very slight increase of just below 3%. We had $56,886,620 total sold dollar volume of residential in the 3^rd quarter and $56,266,626 in the second quarter of this year sales data provided by Aiken Multiple List System.

The home sales are still going the right direction but it confirms the first time buyer market dominates the improvement in housing sales. The Average Sold Price was $169,800; Median Sold Price was $142,000 for the third quarter which was lower than the second quarter and even the year to date averages.

We can spin this information any way you want but what the housing market still has a big problem.  The sales of homes over $300,000 and especially over $400,000 is sluggish almost non-existed when you compare the number of units sold. What we need is to get the homes over $300,000 back selling to really get our economy moving again! Actually the best housing values are in the upper pricing range, if you are thinking of moving up or have been waiting to buy in that upper price range there is lots of opportunity out there!

Sales data based on the Aiken MLS data

Affordable Ole Fashion Family Fun…A Corn Maze & Much More!

Even though this is not in Aiken County I thought it was the PERFECT FALL ADVENTURE and well worth sharing with you.

Someone just mentioned this to me today, they went last year and said it was a blast going thru the Corn Maze.  It looks huge and it is… 8 acres of maze plus there’s 3.5 miles of paths! Each year they have a different theme, this year its “Space Exploration”. There are several activities that offer enjoyment for young and old alike. It looks like some good ole fashion family fun to me. It opens this weekend, only open on Friday, Saturday and Sundays, runs this weekend to November 22^nd.  The admission is only $8.00 and looks like an easy hour drive from Aiken.

The working farm has been in the Sease family for years and they started this new family tradition in 2004 when their youngest daughter encouraged us to diversify by adding a corn maze.

 Every year the Sease family has added new attractions that bring visitors to the farm. 

“Since most everyone today does not have a grandpa to visit on the farm, we are growing that experience for them.”

Check out Clinton Sease Farm in Lexington, SC. http://www.clintonseasefarm.com/#

I would love to hear back from anyone that makes it up there. I am planning on checking it out myself.

Should the $8,000 Tax Credit be extended?

The past months, first time buyers are hurrying and buying homes to meet the deadline to qualify for the $8,000 tax credit that required the buyer to be a home before December 1^st, 2009. This is a huge tax credit to miss out on and last minute shoppers are out there.  Nationwide we all have heard the reports home sales have increased which has been reflected in the past few months here in Aiken, SC, especially in homes $160,000 or less. Since early spring the Aiken real estate market conditions have continued to improve in amount or percentage of sales of homes, with August being 8% higher than July.

Does this tax credit really help or is the positive news reporting making the difference? It certainly at this time is improving the home sales under $200,000 and more dominantly under $160,000 range. The data in the Aiken Multiple List System is clear that there in an increased number of homes that are closing contract. Homes in that range, in good condition and priced well will get an offer pretty timely as compared to long days on the market of 225 days. I have sold most of my listings in that range of $160,000 or less range this summer. Pricing and condition still play a large factor since competition of new homes is out there.  The first time buyer’s sales are triggering a second sale or maybe new construction start. Then that sale may trigger a third sale and so forth. I am starting to see a very slight increase in homes in higher ranges ( $200,000-$300,000) . Logically it should eventually impact higher homes sales but frankly the market for homes over $300,000 is still down, low amount of showings and few contracts. I expect to see the flurry of home sales in the lower ranges continue to for the next 30-45 days. The big question is what is going to happen when the tax credit ends? I mixed feeling but I know we are just getting the real estate market moving again and concerns it will come to halt this December.

 Should the home buying tax credit be extended and modified to be available where all Americans can benefit? What are your thoughts?

And the Changes Just Keep On Coming:

With the exit of Taylor, Bean and Whitaker from the lending scene, financing of manufactured homes has become nearly impossible.  This is bad news for young families who bought a double-wide as a starter home thinking that they could sell it and move up.  Unfortunately, lending on any trailer has basically dried up.  Sellers with "homes" on the market are going to have to hope for an all cash deal in order to get out of that home and move up.

South Carolina State Housing has recently revamped their lending program to an FHA-based program requiring a 3.5% down payment.  The Housing Authority will still give money toward that down payment however they have recently lower the amount to $3,000.  That will still cover the down payment for a $85,700 home.  As an alternative, the USDA Rural Development loans are still strong competitors.  The loans are geographically restricted and if you want to find out if the home that your interested in will qualify, you can check this website by clicking the "Single Family Housing" under Property Eligibility and put in the street address: http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do

There is some good news.  Rates have continued to be attractive.  For well qualified borrowers on a conventional loan, you can still get a rate under 5.00% for a 30-Year Fixed Mortgage.  The rates on the FHA, VA and USDA programs continue to run slightly higher but not by much.  Finally, we are hearing some rumblings that the $8,000 Tax Credit for First Time Homebuyers is actually having a positive effect on the housing market and may be extended beyond the December 1 cut off.  Stay turned for more updates on the Good, the Bad and the Foreclosed.

Matt Hunter

Hunter Mortgage

803-644-4010

Tony and Tina’s Wedding- Head to downtown Aiken this week for some fun, lots of laughs and great entertainment. This show is a blast, I have attended their wedding at a prior engagement, it’s really even more fun if you bring a group of friends and just go with the evening. You may even see some locals you did not know where part of Tony and Tina’s family! The wedding will be at the Aiken Center of Arts on

This show is town this Wednesdays-Sunday (Sept.16-20) held in the evening. The tickets range from $65-85 depending on the night. Price includes: Italian Buffet Dinner, Champagne Toast and Wedding Cake.

For ticket information call 803-641-9094 

New Regulatory and Investor Guidelines can IMPACT your closing date!

Lenders, Realtors, home buyers and sellers all have been impacted the past months with new regulatory and investor guidelines. All parties are trying to close the real estate transaction as agreed in the signed contract between the seller and buyer but often the closing date is dictated by new rules when financing is involved. It has been hectic the past months here in Aiken, SC according to several local lenders adjusting to these changes.

Key Points…

1.      The earliest any home purchase transaction can close is 7 business days after the homebuyer is issued their initial mortgage disclosures (Truth in Lending Disclosure) from a lender.

2.      Upfront fees are not collect by lenders accept for credit reports until the initial mortgage disclosures are received. Lenders use to collect these fees upfront.

3.      Another change is the homebuyer must be provided with a copy of their appraisal a minimum of 3 days prior to closing, the 3 day waiting period can be waived by the home buyer for whatever reason. A buyer should have a copy of their appraisal of the home there are purchasing that is a good change.

4.      Last minute changes to contract even when the seller and buyer both agree often impact the Annual Percentage Rate (APR) on the initial Truth in Lending Disclosures. If there is an increase of more than .125% in the APR on the disclosure, the lender must revise the Truth in Lending Disclosure.   A revised disclosure means another 3 business day waiting period! Items that can affect the APR are unlocked rates, often buyers like to float their rate trying to capture the lowest rate. A change in the loan amount can affect APR, this can happen when a buyer and seller negotiate a lower sales price in lieu of repairs. Product change for example going from conventional to FHA financing.  A buyer may want to re-lock his rate to a lower rate due to market improvement, change in closing date and changes in fees (inclusive of the settlement agent fees). As you can see there are an array of items that can impact your closing date.

Bottom line … take the time to prepare and be knowledgeable when negotiating your contract on your home purchase. You need to consider all factors than may impact your financing. Meeting and discussing in advance with a reputable local lender to understand what type of financing fits your needs is a big step to minimize delays in closing your home.  Working with a Realtor who represents you as a your buyer’s agent ,who is knowledgeable and  understands the changes can help you to structure your offer to the type of financing, closing costs, down payment and closing date that will work best  for you.

As a buyer it’s important that you be very timely in providing your lender and Realtor with requested information during the processing of the contract and financing.   Your home buyer experience will be a lot more stress free if you keep these new changes and suggestions in mind!  

Selling or buying a home in Aiken or anywhere? New Changes that may impact your closing dates…

Background information:

New government Regulations may impact your closing dates. The mortgage industry was gone under lots of changes to help provide homebuyers better information when financing a home. In 2008 amendments to the Home Ownership and Equity Protection Act (HOEPA) and Housing and Economic Recovery Act (HERA) where passed by Congress and Federal Reserve Board published the regulations under the Truth in Lending Act. The purpose of these regulations was to provide more transparent, level and fair regulations to the real estate industry.

 In addition, Fannie Mae and Freddie Mac adopted the Home Valuation Code of Conduct (HVCC) in 2008 to reinforce appraiser independence, value protection and enhance the overall integrity of valuation process.

The reason these changes where put in place where with good intentions but how do these changes really affects the home buying and selling process?

Being in the real estate industry I have mixed feelings on the changes, some good and some bad.  I have concerns we have just added more bureaucracy to the system and at the end have we just created potential additional cost and time to the consumers  which is who they were trying to protect. Watch for the upcoming blogs for more details on how these changes may affect you!

GEM LAKES the final phase of a classic… roads are in and construction has begun! To add to the excitement the developers are offering for a limited time a 7% DISCOUNT OFF ORGINAL LOT PRICING!

This is a wonderful opportunity for you to purchase a lot at a great value, start construction or wait to build at a later date!

Our first home in the neighborhood on Lot# 9 on

This phase will also have access to the Gem Lakes Recreational Area that offers a resident access to a private lake, fishing, swimming area and picnic area.

For further information on Gem Lakes and lots available visit this website:

 http://www.vikkicrossland.com/default.asp?content=custom&menu_id=191567

 Call me personally for details or to answer any of your questions at 644-1720 or 645-8008….Vikki Crossland

Aiken Homes Sales Up in August 2009

We are going the right direction… the number of Aiken properties sold and closed in August were up about 8% as compared to July 09.  The selling range was from the lowest of $18,000 to the highest being $825,000 with the average sales price was $159,697.  The total sales volume was $18,205.354 as per the Aiken multiple list system. The number of days on the market was 159.

The driving force still seems to be the buyers taking advantage of the last days of the $8,000 tax credit and smart buyers stepping out and making some great buys on the higher end properties. There are some fabulous values out there. I have not seen such a vast inventory of homes at such wonderful prices for years!

It’s the time to get into the real estate market and buy! Call your favorite Realtor or contact Vikki Crossland at vikki@vikkicrossland.com or 803-644-1720 to discuss your specific real estate goals.

Source of data: Aiken MLS as of 9/2/09

A well attended luncheon held yesterday, 8/26/09 with a gathering of about 400 community leaders and business people anxiously waiting to what local community leaders had to say about the Aiken economy and future. County to city representatives had a common theme… Aiken is financially stable, strong and doing much better than other places in SC, in fact a lot better than most places nationwide. There have been struggles to make needed cut backs on budgets or go into money reserves they had established but every one of the four speakers are seeing signs of improvements and projecting Aiken’s future as bright.

On another note, next year Aiken city will be 175 years old and they are planning lots of celebrations and events in 2010. They was a campaign at this event to raise money from 175 community members of  $175 to help support the 175^th Anniversary of our wonderful City of Aiken. I felt all that Aiken has given me this was a small request to give back to my community!

City of Aiken Crime Data…New online on www.Aiken.net

Everyone asked their Realtor when relocating or moving to an area about the crime in the community.  The city of Aiken now has a new crime data page on www.aiken.net  to get automatic information on specific communities around the city.

The site is pretty simple to use, there are 44 numbered circles designated different neighborhoods in town. Scroll down the correct number ID of your choice, highlight it and enter the time period you want and hit submit. I did a report it showed me the number of UCR part 1 crime as reported to FBI and SLED for that time period. It’s a great tool and resource for the community. I will suggest if you need help to understanding the data given to contact Public Safety for clarifications.

Link directly to the Crime Data:

http://www.cityofaikensc.gov/crimeanalyzer/statistics.aspx

Paddlefest on the Savannah River August 29^th

This sounds like fun day… check out this website:

http://www.savannahriverkeeper.org/paddlefest/

Even if you don’t have time to build a raft, have access to a kayak or canoe, just watching should bring lots of smiles to your day! What a great event to raise money for the Savannah Riverkeepers.

Savannah RIVERKEEPER® is a 501 (c) (3) non-profit organization whose mission is "To protect the water quality of the Savannah River, the integrity of her watershed, and to promote an enlightened stewardship of this unique heritage." Our 3 main goals are to Restore the water quality, Protect the lakes and tributaries and Educate the communities around the basin.

The latest 2009 catalog of the “Learning for Life” just came out. The program has several opportunities of personal growth and enjoyment offered at the University of South Carolina. One of there NEW classes is Staging on a Budget… this will preparing your home for sale in Aiken market. This is a wonderful opportunity for people who are thinking of selling their home to get some good ideas how to dress their home for success on the real estate market. From personal experience sellers have a lot more success in selling their homes at a better price with fewer days on the market when they properly stage their home and price the home to current real estate market conditions. I call this “Dressing Your Home for Success”! It’s extremely important when there is high inventory of homes, you home needs to stand out as the best condition and value to compete in today’s market especially.

My personal big tip is… “Less is Best”  I find when a home is over done, too many personal belongings in a home, the showing becomes about the people’s personal items and not the house. I really encourage my sellers to stage their home to shows off the house and all its features. Less stuff will help the home show larger and the buyers can imagine themselves in the home.

The classes will be on September 3, 10, 17 on Thursdays, 6:30-7:45pm and the cost is $80. You must register and here is a contact person Laura Anderson at 803-641-3563 or lauraa@usca.edu

As a Realtor and Certified Residential Specialist I have taking several classes and helped several of my clients with staging their homes, from ideas to getting them in touch with a professional staging service. You can contact your favorite Realtor or contact me if you are thinking of selling and need professional guidance on “Dressing YOUR HOME for SUCCESS”. My contact number is 803-645-8008 or 803-644-1720.

What Homes in Aiken area are going Under Contract?

Good News for homeowners trying to sell their home…so far the month of July our sales board is exceeding the amount of listings! This is based on the Meybohm Realtors Southside office. This is one of the few times this year we have seen this trend; let hope it continues!

The big question… what homes are going under contract at this time?  Based on data from Aiken Multiple List System as of today there is 183 homes pending contract in all of the Aiken Multiple List System (which covers a broad area). Southside of Aiken dominates the pending sales contracts.  Over 29% of the homes pending are new construction.  Based on year to date sales 75% of the homes sold and closed are under $200,000.

Here are the main areas to give you an idea of current pending homes:

Aiken NW-10

AikenSW-23

Aiken NE-9

Aiken SE-37

Aiken Rural-9

Granitiville-25

North Augusta-33

Other-37

This trend supports the fact first time buyers are taking advantage of that tax credit  and people who have had the ability to buy are taking advantage of the more affordable housing prices and great low rates which are about at 5% APR as of yesterday.

Have questions on the current housing trends? Give you’re your favorite Realtor a call or call Vikki Crossland, Certified Residential Specialist at 803-644-1720 or email at vikki@vikkicrossland.com to answer your specific real estate needs.

Learn about one of our newer horse oriented communities and have some family fun on July 18^th, 2009!

Everyone is wondering what is really going on in the Aiken real estate market. Here is some statically information based on the Aiken multiple list system for from January 1st 2009 to July 12, 2009. There have been 568 sales and a total of new listings of 1,255. The average sold price is $174,590 and the average days on the market are 224. Total sales volume is $99,167,365.

So what does this mean? The number of property sales is definitely up as compared to the first 4 months of the year by over 25%. Which is very good news! There has been a strong surge of first time buyers, buyers who have been waiting are coming out to buy since they has been concerns that interest rates might head up in the near future.

When you compare the same time period in 2008, there was 708 sales and total of new listings of 1,067. The average home sale was $187,950 and an average day on the market was 178. The total sales volume was $133,068,310. Our current real estate market using the sales dollar volume amount comparison is substantially lower then 2008, but we are heading the right direction!

The homes that are selling most are the lower priced homes; that is reflected in the current average home sales. I am seeing more buyers come out and purchase homes under $200,000 especially under $150,000 range. It is positive news that we are getting more buyers coming into the market to buy. The real estate market still has some challenges ahead but one thing for sure is true…

The prices of homes are more affordable, still a good amount of inventory, wonderful rates and its great time to buy real estate!

A Home Loan Program that will works with real estate in Aiken, SC City Limits for First Time Buyers

Rates have dropped this past week, good news! I have received more offers this past 10 days on several of my homes I have listed. I believe the interest rate dropping has have encouraged people to come out to take advantage of the high affordability of homes and good amount of inventory!

I asked Matt Hunter to give me an update on current rates and some Special financing programs available. Read Below!

Are there any first time homebuyers out there looking for options? Hunter Mortgage has got them.

In addition to the USDA 100% financing loans, we have two low down payment programs available.  The USDA program is an excellent program but what if you want to purchase a home inside the city limits that isn't eligible for the USDA program.  With a typical FHA program, you need to bring the 3.5% down payment to the table.  BUT the South Carolina State Housing Authority has a program for low to moderate income (below $55,500 for 1 or 2 people and below $63,825 household income for 3 or more)  first time home buyers.  The program offers $5,000 in down payment assistance.  This assistance is repayable or forgivable depending you the buyers income.  That means that for homes below $142,850 the down payment will be provided for them.  This is another great option available through Hunter Mortgage Inc.

Rates for most products have been coming back down over the last week.  Current rates are as low as 5.125% on a 30 Year Fixed Mortgage, 4.750% for a 15 Year Fixed and 5.375% on our government loans.  There is still time to take advantage of the $8,000 tax credit for homes purchase before December 1, 2009. 

 Come on in while the rates are back down.

 We're located at

 Matt Hunter

Proposed Changes and New Ideas to the Current Home Buyer Tax credit would help Spark the Economy…

This recent news article talks about some proposed ideas we need to get this economy moving. Let’s extend, raise and open this tax credit up to more buyers and get real estate moving!  Real estate is key part to getting our economy moving in the right direction and it will stimulate more growth and jobs we desperately need across our country.  I would like o hear your thoughts on these ideas.

http://www.usatoday.com/money/economy/housing/2009-06-22-homebuyer-credit-may-be-extended_N.htm

First time buyers need to take advantage of this tax credit it is a wonderful opportunity, for more information read my other blogs or posting on this subject, just scroll down. You can contact me directly at vikki@vikkicrossland.com for more information or call your Realtor.

Buying or selling a home seems like an overwhelming task. But the right REALTOR can make the process easier-and more profitable.

A Certified Residential Specialist (CRS) with years of experience and success will help you make smart decisions in a fast-paced, complex and competitive market.

To receive the CRS Designation, REALTORS must demonstrate outstand professional achievements -including high volume sales-and pursue advanced training in areas such as finance, marketing and technology. They must maintain membership in the NATIONAL ASSOCIATION OF REALTORS and abide by its Code of Ethics.

Work with a REALTOR who belongs among the top 4 percent of the nation. Contact your  CRS today for all you real estate needs or contact Vikki Crossland, CRS at Meybohm Realtors, you’ll be glad you did!

HUD: Tax Credit Can Be Used on Closing Costs

FHA-approved lenders received the go-ahead to develop bridge-loan products that enable first-time buyers to use the benefits of the federal tax credit upfront, according to eagerly awaited guidance from the U.S. Department of Housing and Urban Development on so-called home buyer tax credit loans that was released today.

Under the guidance, FHA-approved lenders can develop bridge loans that home buyers can use to help cover their closing costs, buy down their interest rate, or put down more than the minimum 3.5 percent.

The loans can't be used to cover the minimum 3.5 percent, senior HUD officials told reporters on a conference call Friday morning.

Thus, buyers applying for FHA-backed financing with an FHA-approved lender that offers a bridge-loan program can get a bridge loan to bring down the upfront costs of buying a home significantly but would still have to come up with the minimum 3.5 percent down payment.

There remain many sources of assistance for buyers needing help with the 3.5 percent down payment, including many state and local government instrumentalities and nonprofit lenders.

In addition, some state housing finance agencies have developed their own tax credit bridge loan programs, so buyers in states whose HFAs offer such programs can monetize the tax credit upfront to cover all or part of their down payment. These programs are separate from what HUD announced today.

The first-time homebuyer tax credit was enacted last year--and improved upon earlier this year--to help encourage households to enter the housing market while interest rates are low and affordability is high. The credit is worth up to $8,000 and is available to households that haven't owned a home in at least three years. The credit does not have to be repaid, and is fully reimbursable, so households can get their credit returned to them in the form of a payment.

Learn more about the credit, including how to apply for it this year even if you've already filed your taxes, at REALTOR.org.

Source: Robert Freedman, REALTOR® Magazine Online

Directions: I-20 to Exit 5 (HWY 25), Turn Left on Sweetwater Road, Turn Right at the Mount Vintage Entrance!

If you have any questions or would like additional information, please call me at 803-645-8008 or 803-644-1720!

KITCHEN HEAT

Stainless Steel Appliances. Granite Countertops. Not long ago, these were the hottest kitchen features. But now they’re expected and practically become standard. What are the next major trends to keep an eye on?

According to a recent National Kitchen and Bath Association survey of more than 200 kitchen designers, cherry and maple cabinets, quartzite counter tops and custom-paneled appliances are hot. Where oak cabinets were once a must have, more than 75% of the survey participants how report using cherry and maple, followed by paints and exotic woods. And although nearly all designers believe stainless steel is still the most popular appliances finish, 77 % say that custom paneling on appliances is becoming more common. Granite is still the most frequently used counter top material, but 65% percent of the designers report using more quartzite, another durable stone material.

One thing that hasn’t changed is the trend towards bigger, more open kitchens that accommodate more than one cook and serve as more than a place to cook. In incorporating these bigger kitchens, the traditional “work triangle”-the path between the refrigerator, food prep area and cooking area-is being replaced with work zones. As kitchens get bigger and even more functional, it seems certain that a trend specialization will grow as well.

Sources: Nation Kitchen and Bath Association and the residential Specialist Magazine

Thinking of selling your home? Need to know how to make your home more sellable in the current Aiken real estate market?  Consult a Certified Residential Specialist (CRS), with years of experience and success, will help you make smart decisions in a fast paced, complex and competitive market.

To receive the CRS Designation, Realtors must demonstrate outstanding professional achievements-including high volume sales-and pursue advanced training in areas of finance, marketing and technology. They must also maintain membership in the NATIONAL ASSOICATION OF REALTORS and abide by its Code of Ethics.

Work with a Realtor who belongs among the top 4 percent in the nation.

Contact your CRS today to sell your home or contact Vikki Crossland, CRS at Meybohm Realtors 803-644-1720.

Meybohm Realtors even with the tough real estate market conditions has continued to stay progressive and innovative which has helped them maintain a strong sales success history. According to Aiken Board of Realtor’s Multiple List System data as of 1/1/09 to 4/40/09 Meybohm Realtors market sales share is 33.83% which is outstanding amount when you compare it to the next closest company market share which is only 9.82%.

Year to date the number of active listings that are for sale has increased as compared to 2008 by 69 which is a 5-6% increase. The amount of sold transaction sides has decreased by 57, with a a percentage of market in sales volume only down by 1.6 percent.

Good new is the pending sales in the Aiken Multiple list system are up by 7 in the time frame of 1/1/09 to 4/30/09 which is a 5.63% increase in sales volume. This is confirming the news we are starting to hear in the media, that pending home sales are increasing, which is a good indicator that our real estate market my have hit bottom.

The time to buy real estate at record low prices with low interest rates and possible $8,000 tax credit for first time buyers is now! Call your Realtor to or contact Vikki Crossland or Brandi Cook at Meybohm Realtors to discuss your specific real estate goals at 803-644-1720 or 803-644-1723.

Aiken Board of Realtors Multiple List System Home Sales Market Comparison to Prior Year

The place to be on every Monday evening from May to August is in Aiken’s Hopelands Gardens where local and regional artists are showcased in their annual summer concert series.  Nestled inside an ancient brick wall and beneath a wondrous canopy of oaks, cedars, and magnolias; Hopelands Gardens is the perfect place to enjoy tranquil music in the lazy summer twilight. 

And, did I mention that it is completely free.  So bring a blanket, lawn chair, friends, family, or even a picnic supper and enjoy the peaceful experience that is the Hopelands Gardens Summer Concert Series.  Concerts begin at 7:00 pm on the Roland H. Windham Performing Arts Stage within the gardens which is located at

Here’s a quick link for directions and you can write a review if you like of the event you attend one of the concerts:

http://maps.google.com/maps?hl=en&um=1&ie=UTF-8&q=Hopeland+Gradens+in+Aiken,+SC&fb=1&split=1&gl=us&view=text&latlng=14469508110358695458

There is a shuttle bus that runs in the parking lot next to Applebee’s on

Here is this Summer 2009 schedule:  

This weeks update from Matt Hunter:

Mortgage bond prices remained near unchanged holding mortgage interest rates relatively steady for the week. There was very little data the first portion of the week and rates improved slightly as the DOW was down 183 points at one point Monday morning. Unfortunately the durable goods orders and new home sales data were not as weak as expected which helped stocks rally at the expense of bonds the latter portion of the week. For the week, interest rates on government and conventional loans were unchanged.

The Treasury auctions will factor heavily in trading this week. It will be interesting to see how the additional debt supply is absorbed. The gross domestic product and employment cost index data will be the most important releases. No surprises are expected from the Fed but the meeting may still result in some mortgage interest rate volatility.

Rates remain close to historic lows.  A well qualified purchaser can get a 30-Year Fixed rate of 4.625% and a 15-Year rate of 4.375%.   Call us first for great rates and personal service.

Matt Hunter

Hunter Mortgage Inc

803-644-4010

If you have any questions please call Vikki Crossland at 803-644-1720

2009 Homebuyer Tax Credit

I am seeing more buyers coming into the market taking advantage of this $8,000 Tax credit, great values on homes in Aiken, SC and the unbelievable low interest rates. The buyers coming out are getting some wonderful buys; it is a smart time to buy a home, there are so many incentives and reasons to purchase a home even if you do not qualify for the tax credit. Call your Aiken Realtor now to discuss your specific real estate goals or give me a call at 803-644-1720 or email vikki@vikkicrossland.com

To search for Aiken real estate go to: http://www.vikkicrossland.com/default.asp?content=search&menu_id=5273

The homebuyer tax credit is one of 10 key provisions of the American Recovery and Reinvestment Act signed by President Obama into law on Feb. 17, 2009.

The bill provides for an $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009.  The credit does not require repayment.  Most of the mechanics of the credit will be the same as under the 2008 rules:  the credit will be claimed on a tax return to reduce the purchaser's income tax liability.  If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.

Here is a link to the IRS form for the tax credit:  http://www.irs.gov/pub/irs-pdf/f5405.pdf

Source of information Realtor.org

Walk a mile in HER Shoes…

The Cumbee Center to Assist Abused Person, Inc is organizing a very fun charity event this Thursday April 16, 2009 starting at 6:00pm to raised awareness and money to assist abused persons in Aiken County

All participants must be male and wear at least 1" heel shoes when working the route. The route begins at the Aiken county courthouse on Park Avenue at 6:00 PM and there will be 4 check points on the route. The money the participate raises will be split between The Cumbee Center and a charity of the participate choice.  

Keith Crossland, my son is participating in this event, welcomes any sponsors to help this worthy cause and looks quite fetching in his 3" high heels!

Come on out and support this event; I sure it will bring several smiles and laughs to all us ladies watching the men try to walk in our shoes!

For further information you can go to this website:

It’s a Bright Future ….Jobs coming to Aiken, SC!

No, this not an April Fools joke, please read on…..

Finally some great news for the Central Savannah River Area. Members of the Chamber of Commerce just received this up lifting letter from the Aiken Chamber president explaining the job opportunities coming our way. It seems like lately I have been hearing more and more, good news. I personally have had a better first quarter in 2009 as far as sales compared to 2008. I have had several buyers coming out, taking advantage of the great pricing on homes, the lower rates and more recently some first time buyers taking advantage of the $8,000 Tax Credit.

If you are can buy a home it makes good sense to buy now! Call your Realtor, or give me call to discuss your specific real estate goals!

Source:  A Letter From President of the Aiken Chamber David Jamesome:

Just a few minutes ago, the United States Department of Energy announced that the Savannah River Site will receive $1.615 billion as part of the stimulus plan.  This funding will be used to accelerate decommissioning of nuclear facilities and contaminated areas throughout the Site, including in-place decommissioning of two nuclear materials production reactors. Recovery Act work includes shipping more than 4,500 cubic meters of waste out of South Carolina and will reduce the site's industrial area by 40 percent, or 79,000 acres, by September 2011.

This is a windfall for our region and should cushion current economic conditions.
This will create thousands of temporary jobs. Some of these jobs will be filled by local folks while other folks will be recruited from across the country. The impact of this announcement on our economy will begin to be felt within the next few weeks.

The Chamber Board of Directors dedicated its entire March 19th Board Meeting to brainstorming a contingency plan in anticipation of this announcement. 
My first directive was to make certain that our membership was immediately informed once the announcement was made.

The Board's second priority is to encourage our members to take advantage of this extraordinary opportunity without creating unfounded speculation.  In other words, we encourage you to make cautiously optimistic decisions with the understanding that investment and employment associated with this announcement will evaporate after 30 months.

I can say it again, loudly and clearly - 2009 is going to be a great year for business in Aiken, South Carolina.  Now, go and figure out how to carve out your piece of the pie.

Thinking of buying a home…it’s like the “Perfect Strom”

All the conditions are right to buy right now! Low interest rates, new $8,000 tax incentive, lowest housing prices in years and plenty of homes for sale! It seems like several people are starting to take advantage of these conditions since it was recently released that the sales of existing homes sales where up in February 2009.

See article posted on Realtor.org: 

http://www.realtor.org/press_room/news_releases/2009/03/february_existing_home_sales?LID=RONav0021

Homes for sale in Aiken, SC according the Aiken Board of Realtors MLS data as of 3.27.09 are 1,463 with 155 pending contract. Year to date there has been approximately 220 homes closed with a monthly average of home sales of approximately 74, which is higher then the first of March 2009. The average sales price of an Aiken homes is currently $170,170 and the average Median price is $143,475.

You can search all the home listings in Aiken, SC that are listed in the Aiken Multiple List System by clicking this link:

http://www.vikkicrossland.com/default.asp?content=search&menu_id=5273

Gem Lakes…the final phase of a Classic

Premier builders Todd Gaul of Designer Homes and Steve Kisner, of Kisner Construction team up to develop the last phase of ever so popular area of Gem Lakes. This last phase consists of only 34 home sites ranging in size of .5- .78 acres tucked away within the city limits and offering public utilities. This final section boasts mature trees, lots of green space and access to Gem Lakes Recreation Area where you have lake access, swimming area; play ground, tennis court, picnic grounds, walking area. Gem Lakes Recreation Area is a wonderful spot to take a few moments out the hustle and bustle of everyday life to sit, relax to enjoy the sounds and beauty of nature. 

Gem Lakes Recreation Area offer several social events that are ideal for every person in your family. I understand April 18^th they are having a Fishing Rodeo!  Here’s Gem Lakes Recreation Area website to check out all the fun they are planning:

http://www.gemlakes.org/index.html

To receive more information on Gem Lakes last phase contact Meybohm Realtors at 803.644.1720 or 803.644.1723 and will be happy to provide with the latest information.

Update on Aiken, SC Real Estate Market…

Everyone has been hearing on national news reports of the declining home prices, longer days on the market, housing starts being down and foreclosure rates up.  I’m sure you have wondered how Aiken is being affected.

The Aiken real estate market overall has been flat with some decline since early 2007 and no real appreciation on most properties since that time. Based on the Aiken Multiple Listing System data there is a large  inventory of homes on the market for sale (currently 1,413) and year to date there have been 139 homes sold and closed. That averages approximately 69.5 homes closing a month, which means that we have a 20 month inventory of homes on the market for sale. (There are currently 153 homes pending contract.) Our real estate slow down or decline has been nothing like the states of Florida, Nevada, California and up North. One of the main reasons the real estate market in Aiken has softened is due to the market conditions in the other areas of the country where our potential buyers can not sell their homes.

The good news is there’s still strong interest for people wanting to relocate here to the Aiken area. I receive calls daily for information on Aiken and homes, and I have been showing more homes the past weeks too. There is news of new jobs coming to the Aiken area, as well as news about the new tax stimulus package and tax credit for first time buyers, which should help generate home sales. Aiken is still a good value for the quality of life it offers any family considering relocating here.

Since there’s a fair amount of inventory on the market, competition from new and resale properties is strong. If you want to sell a property in this current market you need to be the “best value” to get a buyers attention!  Pretend you are a buyer in the current market place; wouldn’t you pick the property that’s in the best condition, offers the most and stands out as the better value?

Data based on Aiken MLS sales data  from Jan. 1, 2009 to March 2^nd, 2009

Here is a series of questions a first time buyer may ask about the First Time Buyer Tax Credit. This information is from National Association of Realtors website. It provides good information for the consumer, addresses a lot of concerns a first time buyer may have and need to know about the tax credit.

FIRST-TIME HOMEBUYER TAX CREDIT

In 2008, Congress enacted a $7500 tax credit designed to be an incentive for first-time homebuyers to purchase a home. The credit was designed as a mechanism to decrease the over-supply of homes for sale. For 2009, Congress has increased the credit to $8000 and made several additional improvements. This revised $8000 tax credit applies to purchases on or after January 1, 2009 and before December 1, 2009.

Tax Credits -- The Basics

1. What’s this new homebuyer tax incentive for 2009?

The 2008 $7500, repayable credit is increased to $8000 and the repayment feature is eliminated for 2009 purchasers. Any home that is purchased for $80,000 or more qualifies for the full $8000 amount. If the house costs less than $80,000, the credit will be 10% of the cost. Thus, if an individual purchased a home for $75,000, the credit would be $7500. It is available for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009.

2. Who is eligible?

Only first-time homebuyers are eligible. A person is considered a first-time buyer if he/she has not had any ownership interest in a home in the three years previous to the day of the 2009 purchase.

3. How does a tax credit work?

Every dollar of a tax credit reduces income taxes by a dollar. Credits are claimed on an individual’s income tax return. Thus, a qualified purchaser would figure out all the income items and exemptions and make all the calculations required to figure out his/her total tax due. Then, once the total tax owed has been computed, tax credits are applied to reduce the total tax bill. So, if before taking any credits on a tax return a person has total tax liability of $9500, an $8000 credit would wipe out all but $1500 of the tax due. ($9,500 - $8000 = $1500)

4. So what happens if the purchaser is eligible for an $8000 credit but their entire income tax liability for the year is only $6000?

This tax credit is what’s called “refundable” credit. Thus, if the eligible purchaser’s total tax liability was $6000, the IRS would send the purchaser a check for $2000. The refundable amount is the difference

It’s time for all first time buyers to buy a home with the new improved tax incentives that are being offered! There is a wonderful amount of homes at reduced prices available in Aiken, SC, making it a smart time to buy your first home. The price per square foot being offered on some new homes is amazing. The interest rates are still low and there are several good financing programs available too. For more information contact your Realtor or give Vikki Crossland at Meybohm Realtors Southside office a call to discuss your specific real estate goals at 803.644.1720 or 803.644.1723

Chart Source Realtor.org

FIRST-TIME HOMEBUYER TAX CREDIT

As Modified in the American Recovery and Reinvestment Act

Major Modifications Italicized

“It is imperative that Americans are better educated about their finances and understand what it takes to be a responsible homeowner,” said the HUD Secretary, Steve Preston.

“The resources on this site allow families to plan ahead to make smart choices about finances and home buying decisions.”

Considering buying a home in the Aiken, South Carolina? Check out this site and learn more about the financial process and get your self ready to MOVE.

http://portal.hud.gov/portal/page?_pageid=73,7620944&_dad=portal&_schema=PORTAL

For more information on the new tax credits, process of buying a home or information on any home in the Aiken area give your Realtor professional a call or contact Vikki Crossland at Vikki@VikkiCrossland.com  or her office at 803.644.1720

Continuing my concerns on this new tax reform in 2006 on when and how SC assessed your real estate from my earlier blog posted on 2.20.09.

Not only does this new tax reform discourage residential sales if deters commercial property sales.

The “Point of Sale Tax” deters investors to look and buy property in SC especially once the implications buying in South Carolina is considered. The problem they are facing in the commercial market is when property changes hands; there is increased tax burden on the property and the tax burden will lie with the tenant of the property. The investor has the pass that expense to their tenant to stay profitable and of course the tenant has to past the expense to the consumer.

Owners of commercial property have to raise their leases to maintain value; the value of commercial property is largely determined by the profits the property generates. If they are not allowed to increase their lease, the property value decreases as the commercial facilities operating income decreases.

A commercial facility may gain unfair advantage over another comparable commercial facility by maintaining continuous ownership which will discourage real estate transfers, which is another negative effect.

I highly suggest you contact your leaders in the House of Representatives and Senate to encourage them to pass new tax reform in 2009 to remove the “Point of Sale Tax” Assessment in South Carolina. Our growth and future of Aiken and entire state depends on it.

I recently visited and listed several fine properties; homes and lots that offer spectacular views and settings. Mount Vintage Plantation and Gold Club address is in North Augusta but is located in Edgefield County, South Carolina. This community is truly a hidden treasure!

Mount Vintage Plantation and Golf Club, is a meticulously maintained community, surrounded by the natural beauty of nature in a serene, welcoming setting. It is popular choice for people who enjoy a peaceful atmosphere but enjoy an active, fun filled lifestyle.  You can enjoy an unparalleled golf experience at Mount Vintage’s Tom Jackson designed 27 hole Championship Golf course that challenges any golfer.  Enjoy the full service clubhouse with dining facility and relax on covered porches over looking the practice greens.

Tennis anyone?  There are six Har Tru tennis courts, as well as an Athletic Center featuring junior size Olympic pool, state of the art fitness center, and Spa and Salon services.  You can check out your green thumb in the community garden center.

Horses are welcomed at Mount Vintage Plantation, where there is a fully equipped equestrian center with community barn, boarding faculties, pastures and 25 miles of riding, biking and walking trails.

Mount Vintage Plantation with it’s North Augusta, South Carolina,  Edgefield county location is perfectly located between Aiken, South Carolina and Augusta, Georgia where fine dining, arts, culture,  theatre, shopping, recreational and equestrian events are just a short drive away.

For more information on  my newly listed resale properties, other properties  located in Mount Vintage Plantation or in Aiken/Edgefield area  please feel free to  contact Vikki Crossland at Meybohm Realtors at #803-645-8008, #800-868-568-5625 x1720 or vikki@vikkicrossland.com

In 2006, SC changed the property tax structure which has had a negative effect on real estate market and economic growth for SC.

Prior to this change a county for example, like Aiken county assessed property every five years. The mileage rate was set to meet the budgetary needs of the county, given the total assessed property of the county. In 2006 this was changed to the “point of sale assessment” which means at each time a property is transferred its value is reassessed based on the sales price.

The problems that occurs with this type of assessment is neighboring properties now have gross differences in property tax obligations simply by one property sold after the change in 2006. In Aiken County the affects of this change have not been felt as much by the residents, as other counties but in time, especially when the real estate market starts moving and appreciating the effects will be felt and highly noticed!

This type of point of sale assessment encourages longtime residents not to sell in fear of their real estate taxes going up, even if they move to a smaller home of similar value. For example, you purchased a home for $100,000 in 2006, 10 years later you want to sell your home which now is worth $200,000 (remember your taxes where based on the original $100,000 purchase price). You choose another home which might be smaller, newer, easy care yard since you are older and about to retire in the same value range of the home you already own of $200,000. Your new home of the same value the real estate taxes will be based on $200,000 value since that’s the value at the point of sale. Most likely your taxes will be double! This causes a major disincentive for people to move from their existing home, hits hard families and retirees that are on tight limited budget. This will have a negative effect on the housing growth in Aiken county and thru out South Carolina.

In my next blog I will continue some thoughts on the 2006 Tax Reform that provided the Point of Sale Property Tax Assessment.

Buy in the USA; better yet buy in Aiken, SC…Support our local business and community!

I just received this open E -letter to the community from the Aiken Chamber president with some very compelling reasons why we should support our local business and how the money helps our community.  Another good reason to buy locally instead of the sitting at home on the computer online, it gets you out into our wonderful  community we live in. there’s no place as special as Aiken, South Carolina.  Please read below.

An open letter to Our Community   

by J. David Jameson

President/CEO

Sometimes I'm really amazed.
 
At a dinner party before Christmas, someone was bragging about how much of their holiday shopping they had done on the internet.  Others chimed in about their shopping forays to other cities.  I was surprised at some of the banter because one couple at the table owned a local business.  Finally, someone said that they did their shopping locally and chided the others for not feeling a need to at least try to shop locally to help our businesses.  This guest beat me to the punch, because I had had about all I could stand of the conversation.
 
Within a few days of that incident, the Aiken Standard arrived with the USA Weekend insert that had an article entitled "Local & Loving It" in the GreenSmart section.  I missed it, but thankfully my wife, Sandra, reads the paper cover to cover, saw the article, and sat me down to read it right that minute.  The article quoted Stacy Mitchell, a researcher with the Institute for Local Self-Reliance, who gave several good reasons to shop locally:

• Of every $100 spent in a chain store, $14 goes back into the local economy.  For a locally owned business, $45 goes back.

• Locally owned businesses buy a lot of services from other local businesses, so by buying from one local business, you're not only supporting that business, you're supporting other businesses. I did a little more research and found a recent Civic Economic Study conducted in Austin, Texas, that demonstrated that for every $100 spent locally, $42 is re-circulated in the community.  This validates the original numbers.

Here's another little tidbit of information and more motivation to shop locally.  The latest numbers put Aiken County retail sales over $2.4 billion annually.  WOW.  However, the same report underscores that an additional $800-$850 million is spent out of the county annually.  If you take the low end of lost sales and divide that by the County's population, that represents $3,000 dollars a year for every man, woman, and child being spent elsewhere.  If you're in a family of five, that adds up.
 
Sales outside of South Carolina also impact school funding.  Two years ago, the General Assembly placed a greater emphasis on sales tax revenue as a means to fund schools.  Funding for many school programs is mandated to be paid with sales tax revenue instead of property tax revenue.  Aiken County Public Schools had to reduce its budget by nearly $1 million this year because of reduced sales tax revenue.  Now, more than ever, shopping locally is important to funding our kids' education.
 
Let's create our own economic stimulus plan and shop locally.  Better yet, take an advanced step.  Purchase your goods and services from members of the Greater Aiken Chamber of Commerce, who are listed at www.aikenchamber.net.
 
Try it; you'll be amazed at how it benefits you - and our community.
 
Best wishes in 2009.
 
J. David Jameson
President/CEO

Your Credit Rating Is Important

You know that your credit score is one of your most precious resources…a good score can open doors and save you money. But what if your score got a little bruised amid the recent credit crunch? Don’t fret. Max out your credit rating with these tips for repairing the damage.

·        Order your credit reports from the top three credit bureaus-Equifax, Trans Union and Experian. It’s likely that each is slightly different. Creditors aren’t required to report to all three credit bureaus, so they typically report only to the credit bureaus to which they subscribe.

·        Examine your reports carefully. Nearly every consumer has an error on at least one credit report from one of the major credit bureaus. Carefully look for everything form typing errors, outdated and incomplete information to inaccurate account histories. Make a through list of items you want to dispute and why.

·        Dispute. You can either complete the dispute form provided with your credit report or write a letter. Clearly identify each mistake, and state why it’s wrong. Send a photocopy of your credit report with the mistakes circled to the reporting credit bureau. Include copies of supporting documents.

·        Document, document, document. Keep copies and record of all the forms, letters and documentation you send to the credit bureaus, plus the dates you sent them. The credit bureaus must investigate any relevant dispute within 30 days of receiving you letter. Any item that is not verified by a creditor is removed.

Mortgage money is available at unbelievable low rates plus there’s large inventory of value priced homes in Aiken/N. Augusta, SC area, be smart and take advantage of this opportunity.   

I thought these suggestions from the US Department of Energy maybe useful!

WARM WELCOME

In many parts of the country, temperatures are dropping and heating bills are rising. But there things you can do to keep warm and lower your heating costs. Consider these useful tips:

Take advantage of heat from the sun. During the day, open the curtains on windows with southern exposure to allow sunlight to naturally heat your home.

Cover drafty windows.  Use heavy-duty, clear plastic sheet on a frame or tape clear plastic film to the inside of your window frames. Make sure the plastic is sealed tightly.

Adjust the temperature. When you’re home and awake, set your temperature as low as is comfortable; when you’re asleep or out of the house, turn your thermostat back 10 or 15 degrees for eight hours.

Find and seal leaks. Seal air leaks around utility cut-troughs for pipes, gaps around chimneys, and recessed lights in insulated ceilings, and unfinished spaces behind cupboards and closets.

Reduce heat loss from fireplace. Keep your fireplace damper closed unless a fire is burning. When you use the fireplace, open dampers in the bottom of the firebox or the nearest window slightly (approximately 1 inch) and close doors leading to room.

Lower water heating costs. Water heating can account for 14 percent to 25% of the energy consumed in your home. Turn down the temperature of your water heater to the warm setting of (120◦ F)

Source: www.energysavers.gov

I just received this email from the Homebuilder Association urging people to contact Congress and Senators to pass a financial rescue package. I felt it important enough for you to review and consider taking action. Several of the key components of the plan are very valid points and will benefit our economy. A stable housing market is imperative to bring our country out of this recession quickly.

I welcome your thoughts and opinions on this matter…Vikki

The source of this info below is from a Homebuilder Association email and copied in its entirely. 

URGE CONGRESS TO PASS A
FINANCIAL RESCUE PACKAGE ASAP!

Contact your U.S. Senators and Representatives TODAY!!

Once in your professional career extraordinary circumstances will cause you to do something you normally would hesitate to do. A situation will arise that compels you to act on behalf of your family, your business, and your country. Such a time has now arrived! It is time for everyone in the housing industry to act in unison, and act today!

It is now official the U.S. economy is in a recession – a fact home builders have know for almost two years! In what some financial analyst are calling the worse recession since the 1930 Great Depression, the home building industry has been devastated. Construction has dropped precipitously, housing inventory has increased dramatically, and foreclosures and bankruptcies are soaring. As a result our U.S. building industry has loss 3 million jobs, there are 6 million homes on the market, and U.S homeowner’s wealth has decreased trillions of dollars as a result of declining home prices. Our industry is in the second year of this severe recession with no sign of relief in sight!

History has shown that when the housing industry is strong the US economy is strong, and when it is not the economy suffers. What we need now is federal action to jumpstart the housing industry – a short term stimulus package to get the housing engine humming again. This will help our industry, our home owner/buyers, and the U.S. economy.

To address this dire situation the Home Builders Association has worked with industry allies to come up with a short term targeted federal stimulus package that will provide immediate results. The incentive package is modeled after a successful federal program implemented in 1975 that turned the housing industry around. The key components of the plan are:

Homebuyer Tax Credit - Enhance the existing first-time homebuyer tax credit by:

A.                 Expanding tax credit eligibility to all buyers of principal residences.

B.                 Increasing credit amount to $10,000 to $22,000 based on local house prices.

C.                 Repealing all recapture rules (make a true tax credit).

D.                 Extending expiration date to December 31, 2009.

E.                  Increasing income phase-outs to $125,000 ($250,000 for married taxpayers).

F.                  Allowing tax credit to be claimed at settlement as a down payment on home.

Mortgage Interest Rate Incentive - Establish a temporary below-market mortgage fixed

interests rate program via buy-downs for buying houses.

A.                 2.99% 30-year mortgages for contracts closed between now and  June

                        30, 2009.

B.                 3.99% 30-year mortgages purchased between July 1, 2009 and December

                        31, 2009.

Increased Liquidity for Mortgage and AC&D loans – Reform lending regulations.

Foreclosure Mitigation – Continue foreclosure mitigation to keep people in their homes.

This aggressive proposal will bring consumers back to the market, reduce inventories of unsold homes and stabilize home values by focusing on temporary programs that will strengthen housing demand and promote economic recovery. The proposed package will increase home purchases by 1.2 million homes in 2009, which would help soak up the excess supply and push house prices back in the positive direction. The economic stimulus created by established households moving into new homes, and the added construction necessary to answer demand where there is no excess supply, will create over 600,000 jobs, $29 billion in wages and salaries, $23 billion in business income and, tax revenues of $16 billion for the federal government and $5 billion for state and local governments.Unfortunately the current economic problem is a nationwide problem requiring federal action and action now! 

Once in your professional career extraordinary circumstances will cause you to do something on behalf of your family, your business, and your country that you normally would hesitate to do. Such a time has now arrived! It is absolutely critical that Congress hear from all members of the home building industry now on this critical issue!! Please take a moment out now to respond to this request.

When Congress returns in early January, the Federal Stimulus Bill will be drafted and passed. It is very important that the HBA Housing Proposal be part of this important stimulus legislation. Please take a moment to call or email your Senators and Congressman.

Congressmen                                 Phone                FAX               Website

Sen. Lindsey Graham                202-224-5972 202-224-3808 lgraham.senate.gov

Sen. Fritz Hollings                     202-224-6121 202-224-4293 hollings.senate.gov

Rep. Henry Brown                   202-225-3176 202-225-3407 house.gov/henrybrown

Rep. Joe Wilson                       202-225-2452 202-225-2455 joewilson.house.gov

Rep. Gresham Barrett               202-225-5301 202-225-3216 house.gov/barrett

Rep. Jim DeMint                      202-225-6030 202-226-1177 demint.house.gov

Rep. John Spratt                       202-225-5501 202-225-0464 house.gov/spratt

Rep. Jim Clyburn                      202-225-3315 202-225-2313 house.gov/clyburn

Tell them:

1.       As a tax payer and a business person, you support a financial stimulus bill that expands the current homebuyer income tax incentive, creates a new mortgage interest rate incentive program, provides regulatory flexibility to provide liquidity in the mortgage and construction loans, and promotes foreclosure mitigation. Commend them for their support in these proposals.

2.       Tell them that Congress must act to craft new legislation in January that helps restore stability to the economy. Lack of bold action by Congress is pushing our nation into recession and the ensuing financial chaos will hurt every U.S. citizen.  

Thank you for your help with this extremely important grassroots effort! Lack of action by Congress is not an option. The alternatives are much worse for all South Carolinians.

Click the link below to log in and send your message:
http://www.votervoice.net/link/target/hbasc27399993.aspx

4.5% Rates Possible?

The news is abuzz about the Treasury lowering home loan rates to 4.5% to stem the foreclosure crisis but details have been lacking. The Treasury Department stated it is looking for additional ways to help the struggling housing industry and believes lower rates are needed.

This idea is similar to the November 26th announcement from the Federal Reserve where they indicated the intent to purchase up to $500 billion in mortgage-backed securities from Fannie Mae, Freddie Mac and Ginnie Mae. In addition they would buy another $100 billion in direct debt issued by those firms. The November news caused bond prices to spike higher and forced mortgage rates lower. Just like any commodity, whenever tremendous buying interest exists, prices rise. Mortgage rates fell almost 1/2% in rate following the announcement. However, the following week market forces continued and rates spiked a bit higher from the recent lows.

It is important to remember that there are no details to the Treasury plan as of yet. The Federal Government does not directly dictate home loan rates. Rates are determined by price movements of Mortgage Backed Securities (MBS), which compete for investor funds in the open market. The Treasury can buy mortgage bonds on the open market but remember that they are not the only entity buying and selling these instruments.

The Treasury is in a very tough position in trying to manipulate home loan rates. Creating a new Federal mortgage program could be very risky. How would rates be set, who would qualify, and can the funds be used for purchases and refinances are just some of the questions being asked. The other critical concern is implementing such a program without destroying the current mortgage securities market. Doing so could have the unintended consequence of causing additional economic turmoil.

Rates are not going to 4.5% with the wave of a wand by Hank Paulson or Ben Bernanke. As a matter of fact, the massive borrowing to fund the TARP program has a negative effect on rates. At this time, the announcement still leaves a lot of uncertainty. What we do know is that rates are at historic lows and house prices have moderated setting up a great scenario for people who need to refinance or are looking to buy a home. Waiting for rates to fall to 4.5% may leave people sorely disappointed.

Thanks for the update Matt Hunter!! If you have any questions please give Vikki Crossland a call at 800-868-5625 ext 720

Downtown Aiken comes alive this weekend with holiday spirit on December 5^th at 6pm when Mayor Fred Cavanaugh lights up the downtown area’s tree and holiday lights. Magically all the holiday lights turn on lighting up the streets with beautiful sparkling lights. You’ll find carolers and other special holiday events through out the upcoming days before December 25^th making shopping, dining and just strolling downtown Aiken a day to remember!

On Sunday afternoon at 2pm December 7^th is Aiken Annul Christmas Parade, this is lot of fun and a favorite of the locals to see their friends and family in a parade…. of course Santa always makes an appearance!

The magically spirit of Aiken never ends!

Visiting Aiken, just in town for the holidays or considering purchasing a home or property in Aiken, SC give Vikki Crossland at Meybohm Realtors a call for caring and professional service or you can a complimentary information package on Aiken full of valuable and interesting info, local map on Aiken. Just call 803-644-1720 or email her at  vikki@vikkicrossland.com  Vikki  has  been selling Aiken area since 1985, loves the community  and has thousands of happy home buying endings!

Breaking News…Meybohm Realtors’ newly redesigned website was ranked #10, for the “TOP TEN Brokerage Website in AMERICA!” This is real exciting news for us, especially since there are tons of brokerage websites out there and Meybohm Realtors did not even submit for this recognition. A company called 1000wattconsulting and real Trends ranked websites for this award.

Companies were reviewed and rated based on the clarity, ease of use, the bottom line, individuality and practically of the brokerage website. Meybohm Realtors website was designed for consumer use, offers a lot of good information to the consumer whether buying or selling a home.

Go and visit www.meybohm.com and see what all the excitement is about!

With all the ups and downs of financial and real estate market, we do live in the greatest country. A country as compared to others is willing to help others in time of need even when they are going thru hard times.  Aiken is a community that is known for its kindness and generosity too, especially at Thanksgiving. Experience a special event by going downtown Aiken for the “One Table Thanksgiving Dinner”. It certainly will remind you how blessed we are to we live in the wonderful community of Aiken.

The One Table Thanksgiving Dinner will take place in the Alley from 11 a.m. until 2 p.m. You will see over 2,000 families fed; food donated by locals, several charities, churches support by bringing the tables and there’s hundreds of volunteers!

I personally want to thank you for all your kind thoughts, and always appreciate the support you have given me in the past, currently and in the future! May the new season bring you and your family all good things and have a happy Thanksgiving!

I asked Matt, at Hunter Mortgage the simple question, is there money to lend on homes and are there lower down payment programs  available after all the mortgage meltdown. You will be happy to read his answer he sent me below!   Vikki Crossland

Is there money available?

I've been asked by several potential borrowers and realtors as well,” Is there money still available to borrow for a home loan?"  The answer is "YES".  It certainly isn't a easy to come by these days.  Most of the low and no down payment financing has gone away and the stated income and asset loans are gone, probably forever.  What does that mean to you?

There is still one true 100% program still available for home located outside of the city limits and for borrowers making below certain income limits depending on the number of people in the household.  We also still have the State Housing program.  Again, it is income dependent but not geographically restricted.  The program requires a 3% down payment but the Housing Authority will give $5000 toward the down payment.  The FHA program is going very strong.  For someone with a 3.5% down payment (this recently went up from 3%), this could be the program for you.  That down payment can be gifted by a family member even.

All mortgages have moved to full documentation a loan that means that you'll have to show a Year-To-Date paystub, two years W-2s and two months worth of bank statements.  If you're self employed that translates to two years worth of tax returns showing enough income to support the mortgage payments.  The self-employed are probably the hardest hit because many take as many deductions as possible which sometimes doesn't leave much for the mortgage payment.

So the money is still out there for well qualified borrowers.  It's become more of a documentation nightmare at times but the interest rates have held very nicely and we are currently seeing a downward trend.  For a well-qualified client, a 30-Year fixed is at 5.500% today.

One other note is that for clients looking to refinance, an FHA mortgage will allow them to go to 95% of their home's value.  For people that took out a first and a second mortgage to buy a home, now maybe the time to refinance it and get one low fixed rate for the life of the loan.

Call me to get more information.

Matt Hunter

Hunter Mortgage Inc

803-644-4010

The 19^th Annual Greek Festival starts tomorrow, Thursday, October 9^th and runs thru Sunday, October 12^th. There will be four days of live music, Greek dancing, authentic Greek cuisine and pastries, Greek market, church tours, free balloons and more. You can even take out or drive thru and pick up Greek food.  Best of all the admission and parking is free!

The festival is located on the corner of Tenth and

Here is an update from Matt Hunter regarding mortgages:

This festival has something of interest for everyone. I missed this event last year and plan to attend, even to  just to see the 20 colorful  hot air balloons that will dot our Aiken sky when released early Saturday and Sunday morning. The event will be held at the Aiken Polo Club Powderhouse Fields September 19-21, 2008

I have been in a hot air balloon several years back when I visited Australia. I felt like a feather floating across the sky, perfectly calm and quite… until they add more hot air to keep the balloon afloat. It’s a bit noisy, for a few seconds or so.  I enjoyed the experience very much and would not hesitate to go again! There will be balloon rides available, for further information call 888.881.4001.

This is a fun filled event that will benefit the families of our service men and women. This event is for the entire family but with a special message to our service men and women serving overseas… you maybe overseas, but you are not forgotten. Admission is free with a donation to the families of our service men and women from Fort Gordon Army Base.

There will be numerous vendors and a packed full schedule of events daily, starting Friday at 3:30pm, vendor village, kid’s equestrian games, grooms race, tether balloon rides, kids stick horse races and fireworks at 8:00pm and that’s just Friday evening.

For a schedule of events visit: www.poloamerica.com  which is also, an informative website in regards to polo; The Sport of Kings. You can also call 888-881-4002.

Downtown after Six is starting back up this week! Aiken Downtown Development Association is coordinating Downtown after 6…

Where did Van Gogh? This event will be held this upcoming Thursday, September 18^th, 6-9pm.

Their brochures say …Join us for a “Starry Night” in downtown Aiken. Travel from shop to shop to visit with local artist and view their work. There are maps available at the ADDA offices in the Alley or at any of the participating stores the night of the event. For more information call 649-2221.

Come down and join the fun in downtown Aiken this Thursday night.

Here are some of the participating stores:

Aiken Center for the Arts          Cote Designs

Lioned Smith, Ltd                           Stoplight Deli

Meybohm Realtors                      Women’s Echoes

Connie’s Framing                        Tea Garden Gifts

Desserves, LLC                           Panache Interiors

Equine Divine                              Pink Clothing Co.

The Curiosity Shop                      Sweet Cow Creamery

Nandina Home and Design          Blanchard and Calhoun

Century 21                                    Exit Realty

Up and Away Balloons and Fudge        

The average sold price of a home is $212,997 as of 8/31/08. When you   compare that number to the first six month period of 2008 which was $219,274 we have dropped about 3%.  If you read an earlier blog posted 6/18/08 there where a couple of very large sales which did raise the average sold price. I believe the average sold prices are adjusting from those large sales. The average Median Sold Price* is $166,400 for the first eight months of the year, barely 1% less than the average Median sold price of the first six month of 2008.

As of today, 9/7/08, there are 959 homes available for sale. There has been an increasing number of homes listed for sale, with an average of 46 homes closing contract a month. The inventory is growing making it an opportunity for buyers to have a good selection of homes and perfect time to negotiate before the market turns.  Our total sales volume is off 22% as compared to the same time period last year.

It is a buyer’s market, but as I have said before, it’s only a buyers market if you buy!

*Personally I do not find the Median Sold Price as useful as the Average Sold Price. Let me explain why. One extremely large sale can raise the Median Sold Price which would not give the public a real picture of home values in Aiken, SC.  It is simply the point at which half of the homes in Aiken sold for more, and half sold for less. If, a large amount of homes are sold in Aiken where home prices are high, the median sales price will trend higher. If a large amount of homes are sold in Aiken where home prices where low, the median sales price will trend lower. Again, all that the Median Sales Price tells us is the price point at which half the homes in Aiken sold for more, and half sold for less.

Sales data based on Aiken MLS data from 1/1/08 to 8/30/08 in Aiken NW, SW,NE, NW and Aiken rural

Active retirees have been flocking to the Aiken, SC area for the past several years. The importance of providing services to our aging community is important. I understand the need to be aware of the services available and the issues that affect our seniors. I recently have spent a lot of time assisting my aging parents, struggling researching to find the right answers in how to help them, understand medical treatments, as well as Medicare, secondary insurance, assisted living and plan for their special needs. I have found Aiken does offers a lot of services and resources to families. You just have to search it out and ask lots of questions.

There will be a Aiken Senior Extravaganza on Wednesday, September 17, 2008 at H.O’Dell Weeks Activity Center between 8:00am-3:00pm.   This is an opportunity to spend the day in educational seminars covering several of the dilemmas I have faced recently plus a health care display fair. This is open to the public and free!

Some of the sessions are as follows:

Women’s Health Issues

Care of the Aging Eye

Pain in not Normal-Common Pain Disorders and Treatment

The Benefits of Preplanning Your Health Care Choices-Health Care Power of Attorney

Alzheimer’s Disease-Early Signs and Symptoms

Everything You Need to Know about Medicare

The Anti Inflammatory Diet for Weight Loss and Disease Avoidance

The education seminars will be limited to the first 250 people who register.

For more information call 803.642.7631.

Bridle Creek a one of Aiken’s newest and popular equestrian community will be presenting Aiken’s first “Touch A Horse Day”. This fun filled event will be held on Saturday September 13^th, 2008 between 10am and 1pm. “Mansa” one of Aiken’s LARGEST and most gentle horse will be there. There will be several activities for young and the young at heart. You can participate in pony rides, opportunity to meet and chat with polo players and watch a horse jumping demonstration. Southern Saddlery are sponsoring a dog agility demonstration, hay rides through Bridle Creek will be sponsored by Aiken Saddlery, and the games for children are sponsored by Boots Bridles and Britches.

Looking for a new pet? There will be shelter animals to adopt and spray neuter awareness information will be available! All donations received at the entry will go to benefit Aiken County Animal Shelter.

The Bridle Creek community vision was to create an equestrian development focused on old familiar Aiken concepts: preservation and beauty. Bridle Creek is a well planned community and appeals not only to families with horses but for the family who appreciate the beauty and preservation of our environment. There is a variety of lots from 1.3 acres to 15 plus acres. For more information give us a call and we will be happy to provide you further information. Or visit: www.bridlecreekaiken.com

 To locate the Bridle Creek Community, go south on

Recently I had the pleasure of visiting Edisto Lake; a private gated community away from the hustle and bustle of big city life with a pristine 200 acre lake.   Edisto Lake offers a hundred lakeside home sites on which 60 have already been built on.  The community has a road that gently curves in and around the lake and community. The area offers a tall canopy of mature trees, lush grounds and fabulous views of Edisto Lake. The lake offers wonderful fishing opportunity for the angler. The lake offers bass, crappie, blue gill and catfish.  I personally saw several large bass off the dock of one of the home sites! You can also enjoy bird watching, boating (no wake policy), swimming, walking areas and just a wonderful place to slow down, catch your breath and enjoy the simple pleasures of life.

Edisto Lake is located just outside of the town of Wagener in Aiken County and is a very scenic drive from Aiken. You'll pass by numerous horse farms, fine estates and farmlands heading to Wagener; it is approximately a 30 minute drive. You are about equal driving time to Columbia.

Here are some pictures of the lake and link to a fabulous newer home that is available for sale with its own private dock where you can be nature's neighbor!

View my new listing:

http://www.vikkicrossland.com/default.asp?content=expanded&search_content=my_listings&this_format=0&mls_number=63681&page=1&sortby=2

France, Italy, Germany, maybe even California, but Aiken, South Carolina?  Aiken isn’t the first place you think of when it comes to wine. However, just down the road from the city of Aiken, is Montmorenci Vineyards-one of the South’s few commercial wineries.  They grow all their grapes on site, offer wine tasting, and have continually produced award winning wines.  White wines, red wines, rose (pink) wines, sweet wines, and sparkling wines, Montmorenci Vineyards offer just about everything you need to complement your meal or to celebrate a joyful occasion.

But what makes Montmorenci Vineyards unique is the great care and personal attention with which they treat each bottle.  Only the highest quality grapes are selected and then hand picked, gently pressed, cold fermented in small lots, and then bottled with a most delicate touch.  Those of us who appreciate the exquisite art of winemaking will know just how much a difference this personal care makes. 

The ancient Greeks considered wine as a medicine. So cook a nice chicken or fish dinner, stop by Montmorenci Vineyards for a lovely bottle of Blanc du Bois, and enjoy the best of “medicines.” Doctors orders.

Looking for something to do in Aiken this weekend? It's the end of the summer and there's never been a better time to go to an old fashion drive in theater. This will take you back to the fabulous 1950's.The Big Mo originally opened in 1951 and was briefly closed for 13 years, but was revived in 1999 as one of the best American traditions of entertainment. There are two screens to choose from each offering different double features. At the full service concession stand there are hot dogs, hamburgers, sausage dogs, corn dogs, BBQ Sandwich, popcorn, nachos, ice cream and soft drinks! See you at the movies! For more info visit: http://www.thebigmo.com

Directions:

Take I-20 to exit 33 (SC Route 39)
Take SC 39 to Monetta, SC (approx. 7 miles.)
Turn right onto US 1.
The drive-in is approximately one mile down US 1 on the right.

Physical address of drive-in for mapping/gps purposes only: 

Weekly Update from Matt Hunter from Hunter Mortgage.....

Matt Hunter, Hunter Mortgage, 803-644-4010

Thanks Matt for Your Update!!!

Quick Facts from Christie’s and

Christie’s Great Estates

• In 2007, the Christie’s Great Estates global network achieved combined sales in excess of $125 billion
• In 2007, Christie’s reported total sales of $6.3 billion
• The Christie’s Great Estates network is comprised of 150 companies with 850 offices in 41 countries
• Average list price of properties advertised in Christie’s Great Estates magazine: $8.02 million
• Average sale price of a property marketed through Christie’s Great Estates:

$7.5 million   

• Christie’s Great Estates is currently marketing two properties valued at $125 million: Dunnellen Hall in Greenwich, Connecticut (David Ogilvy & Associates) and Fleur de Lys in Beverly Hills, California (Hilton & Hyland).

• Web Stats for www.christiesgreatestates.com – June 2008:

• Average list price on www.christiesgreatestates.com: $3.8 million
• Number of properties posted: 6,800
• 92% of the homes on the site are valued at $1 million and above
• Number of properties valued at more than $10 million:  421
• Number of countries with active listing:  43
• Average hits per month: 8,679,385
• Visitor sessions per month:  229,572
• Unique visitors per month:  81,476
• Monthly average of click-through from Christie’s, www.christies.com: 2,915

Visit www.christiesgreatestates.net for monthly Web updates.

Top Real Estates Sales, 2007- 08

§         Milbank Mansion – New York, New York

Closing Date: March 1, 2008  -  Sale Price: $49,000,000

Brown Harris Stevens Residential Sales, LLC

§        John H. Duncan Mansion – New York, New York

Closing Date: November 1, 2007  -  Sale Price $35,000,000

Brown Harris Stevens Residential Sales, LLC

§        Round Hill with Breathtaking Views – Greenwich, Connecticut

Closing Date: January 1, 2008 – Sale Price $30,000,000

David Ogilvy & Associates, Inc.

            Visit www.christiesgreatestates.net for a printable version of full   Significant Sales             list

        Top Art Sales 2008

§         “Le basin aux nympheas”

Claude Monet, 1919

Sold for $80.5 million

Christie’s London - June 24, 2008

§         “Triptych 1974-77”

Francis Bacon

Sold for $51.7 million

Christie’s London – February 6, 2008

§         “No. 15”

Mark Rothko

Sold for $ 50.4 million

Christie’s New York – May13, 2008

Source of information:  Christie’s and Christie’s Great Estates as of 7/10/08

All first time buyers or buyers who have not own a home for past 3 years, it’s time to buy; this is a great opportunity for you to advantage of the lower prices, good inventory and still lower rates before they rise. Here are some quick facts for your review.

Who is Eligible

·        The $7,500 tax credit is available for first time buyers only.

·        The law defines a first time buyer as a buyer who has not owned a home during the past three years

·        All U.S. citizens who file taxes are eligible to participate in the program

Income Limits

·        Home buyers who file as single or head of household taxpayers can claim the full $7,500 credit if their adjusted gross income (AGI) is less than $75,000.

·        For married couples filing joint return, the income limit doubles to $150,000.

·        Single or head of household taxpayers who earn between $75,000 and $95,000 are eligible to receive a partial first time home buyer tax credit

·        Married couples who earn between $15,000 and $170,000 are eligible to receive a partial first time buyer tax credit.

·        The credit is not available for single taxpayers whose AGI is greater than $95,000 and married couples with an AGI that exceeds $170,000

Effective Dates for the Tax Credit

·        First time home buyers would receive a $7,500 tax credit for the purchase of any home on or after April 9, 2008 and before July 1, 2009. To qualify, you must actually close on the sale of the home during this period.

Tax Credit is Refundable

·        A refundable credit means that if you pay less than $7,500 in federal income taxes, then the government will write you a check for the difference.

·        For example, if you owe $5,000 in federal income taxes, you would pay nothing to the IRS and receive a $2,500 payment from the government

·        If you are due to receive a $1,000 tax refund from the government, your refund would grow to $8,750 ($1,000 plus $7,500 from the home buyer tax credit).

·        Buyers can take the tax credit in their 2008 and 2009 tax return.

·        If you purchased the home in 2008, the tax credit is taken on your 2008 tax return. If you buy in 2009, you have the option of taking the credit on your 2008 or 2009 tax return.

Types of Homes that Qualify for the Tax Credit

·        All homes, whether single family, town homes or condominium apartments will qualify, provided that the home will be used as a principal residence and the buyer has not owned a home in the prior three years. This also includes newly-constructed homes.

Payback Provisions

·        The tax credit essentially serves as an interest free loan to be repaid over 15 years.

·        For example, a home buyer claiming a $7,500 credit would repay the credit at $500 per year. If the home owner sold the home, then the remaining credit would be due from the profit of the home sale.

·        If there was insufficient profit, then the remaining credit payback would be forgiven.

Contact your Realtor or Vikki Crossland at 803.644.1720 to take advantage of this special opportunity!

Looking to do something different this upcoming weekend? Head out to the Iron Horse Bar and Grill in Beech Island, SC on August 2, 2008 at 1pm. This will be their 3^rd Annual festival. They will be serving up one of the southerner’s favorite dish of fried green tomatoes; honestly I have never tried one but I hear they are delicious!  I have always been patient enough to wait and enjoy a red ripe tomato off the vine. I have lived in the South long enough, that it’s about time I try a fried green tomato!

There will be a classic car and bike show to check out plus several live bands. All donations will benefit Make A Wish Foundation! Sounds like a lot fun for a worthy cause!

For more information visit this site:
http://www.ironhorsebarandgrill.net/Festival.html

In news released this morning, orders for durable goods rose 0.8%, much stronger than expectations for a decrease of 0.3%. Strong economic data can be inflationary and has traders on edge this morning. Also, the University of Michigan sentiment stood at 61.2, stronger than the expected read of 56.4. Lastly, new home sales stood at 533k, better that the 500k expectations.

Provided by:

Matt Hunter

Hunter Mortgage Inc

803-644-4010

Thanks Matt for your update!

Sounds like the people who are thinking about buying and getting a mortgage should buy now before the interest rates rise! There’s a great amount of inventory of homes and some real values out there. I just listed a home for over 1,300 square feet that was updated, 3 beds/2.5 baths plus a 2 car garage priced to sell quickly for $119,900. Works well for an investor or homeowner.

Meybohm Realtors is very excited about this new affiliation and now can offer international marketing for their distinctive and luxury homes enhancing the Meybohm Fine marketing program. The Fine marketing program Meybohm Realtors offers is one the most effective and extensive marketing programs available for selling distinctive and  luxury  homes in the Aiken and the Central Savannah River  area. For more information visit these websites or contact Vikki Crossland at 800.868.5625 x1720, 803.645.8008 or 803.644.1720 to learn more about Christie’s Great Estates and the Meybohm Fine Marketing Program.

http://meybohm-fine.com/

http://www.christiesgreatestates.com/

Christie's Great Estates, a wholly owned subsidiary of Christie's, the world's oldest fine art auction house, is the largest network of real estate brokers dedicated to the marketing and sale of important properties. The network comprises more than 850 real estate offices and nearly 35,000 sales associates in more than 40 countries. The combined annual sales volume of all affiliate real estate companies is approximately $125 billion.

The Christie's name is synonymous with quality, integrity, and customer satisfaction, and the marketing efforts of Christie's and Christie's Great Estates provide far-reaching exposure to a qualified audience of homeowners and homebuyers.

Only brokers who have a leading market share, meet strict standards of service excellence, and demonstrate proven records of success in handling distinctive properties can become affiliated brokers and utilize the well-known and highly respected Christie's Great Estates brand name.

Through an exclusive system of advertising, marketing, and listing tools, Christie's Great Estates provides access to a worldwide audience. Properties are showcased in Christie's Great Estates magazine, which is published four times a year; in custom-designed property brochures distributed worldwide; on the Christie's Great Estates Web site, and in Christie's Magazine and other highly regarded international publications.

Source:  Christie’s Great Estates website

The July/August 2008 issue just became available; it is full of the latest new listings, price reductions and lots of great properties available for sale in the Aiken area. If, you would like a current real estate guide sent to you, please email at Vikki@VikkiCrossland.com and let me know your request.  I will need your name, mailing address and any specific info you would like me to include. I’ll get it off to you ASAP!

Buyers… it is a great time to take advantage of the great rates before they go back up, the lower prices and the wonderful inventory of properties currently available. You can take the “wait and see” approach but once the market turns you can lose the luxury of time and  miss an opportunity available in the current real estate market. Contact your Realtor or my office at 803.644.1720 or you can email me at Vikki@VikkiCrossland.com to discuss this unique opportunity.

Home sales dollar volume rose by $2,944,289 the second quarter as compared to the first quarter of 2008. The average home sold price also rose to $235,441 where the first quarter was $204,239. This is a substantial increase but after analyzing the data we had two very large sales, both over $2,000,000 which accounts for the part of the increase. The average for the six month period is$219,274. Logically, the average median price range reflected the same increase in the second quarter but over for the first half of 2008 it is$168,750.

Interesting, the number of home sales dropped by 7%; from 200 to 186 units as of 6/30/08.  The reason for the drop in units in the second quarter is more homes of higher price value were selling and closing contract, as compared to very few sales in the $300,000 plus range in 1^st quarter of 2008.

Even if  you remove the two $2,000,000 plus sales from the data the average home price sale is holding steady and not dropping; proving that the Aiken, SC market is holding it’s own in today’s challenging  real estate market.

Data from: Aiken MLS 1/1/08-6/30/08

Meybohm Realtors Sells the Most Homes! Just released… updated sales chart of the Top Six Real Estate Agencies based on residential transactions in Aiken for the time period of 1/1/08-6/30/08. See chart

In Aiken, Meybohm Realtors in Aiken continues to lead the way in selling homes, by selling $85.4 million worth of homes in this time period. The next company closest sold $65 million dollars less.  

Meybohm Realtors even sold the most number of homes - 433. The closest number of sales is Keystone Homes with 90 homes sold the first half of 2008. Keystone Homes is a builder/developer that markets only their own properties - not resale or new construction by other builders. The third place in number of home units sold by a full service real estate agency was 76 units.

We are extremely thankful for the continue support the Aiken community has shown us over the years!

Data provided by Aiken MLS for 1/1/08-6/30/08

You need to be objective, abandon your personal views of your home. You need to view your home through the eyes of the buyer. Buyer's do not care how much you paid, the cost of your personal improvements, how much you have invested or how much you need to purchase your next home.

Compare your home to recently sold homes in your neighborhood, no later than six months; three months or less is better. It's important to use homes that are similar to your style, floor plan, square footage, features, age and condition. An experienced Realtor can do a comparable market analysis (CMA) that will provide you a detailed report showing recent sales, competing homes for sale and homes that did not sell. Sometimes a property is very unique, in a “niche” market or there has not been any recent sales, this is where I highly recommend you have an experienced, successful Realtor; you may even want to ask three different Realtors to give you a C.M. A.  Sometimes an agent will give a high price to entice you to list with them. Really look over the information and data provided, compare to the other info you received, ask lots of questions how they determined the price and why. An experienced Realtor should be very comfortable, prepared and able to answer these questions.  Another option is to arrange for a professional fee appraisal, this will cost you some money (estimate $300-500) but you are hiring an independent person who has no interest in listing the property. I suggest you tell them the purpose of the appraisal; a realistic value of your home of what your home would sell for based on the current normal marketing time. If, the normal marketing time period is too long for you to wait, give the days of marketing you desire and they will prepare the appraisal based on that time frame.

Consider the market trends…are the prices rising, going down or flat? It is always the best position to be “the best price and best condition home” in a buyer’s market. The home that is the “pick of litter” among 10 competing homes will always sell first! The idea of pricing high, with the thought I can always come down, will cost you time, money and an offer you may accept.

Buyer’s look in price ranges.  An example is, you would accept $140,000, but list your home for $152,000 thinking you can come down $12,000.  You will lose all the qualified and serious buyers only looking up to $150,000 since they will not even consider your home since it’s listed over their target range. You will have the buyers looking who are in the $150,000 range; your home will appear to offer less for the money and be over priced when compared to correctly priced homes in that range.  Pricing is extremely important to ensure you have the maximum amount of buyer’s considering your home to purchase!

Lastly, be ready to move and close quickly. Often buyers are ready to move in and close in 30 days or less. I have seen several sellers stress out and lose acceptable contracts since they could not accommodate a closing date. A reason buyers may want to close quickly is the best interest rate lock-ins are 30 days or less; buyers want to take advantage of a low rate. Be prepared, flexible and creative in meeting a qualified buyer move in date. It’s great to have someone who loves your home, ready and able to buy and to close timely on your home, especially in the current market conditions!

With all the competing inventory of homes on the market it is extremely important to have your home looking the best as compared to your competition.

When driving by a home, buyers make an instant decision if they have interest and want to see your home; curb appeal is important! Keeping the lawn and landscaping well maintained, adding some additional shrubs, flowers and refreshing the beds with new pine straw or mulch will give your yard a new improved look. Make any needed repairs to the exterior and front area of the home. Paint the front door if is needs a new coat of paint, polish the door knobs and kick plate, replace if needed. We want your home to have a welcoming feeling.

The kitchen and bathrooms you need to pay special attention to. They need to be sparkling clean, as modern as possible and odor free! Removing old wallpaper and painting can often give these room a new fresh look. Another trick is replacing the old light or plumbing fixtures with new ones and changing out knobs on cabinetry. I do not recommend mixing of several metal finishes; use the same finish through out if at all possible. Buying and hanging some fresh towels for the bathroom is helpful.

You definitely want your home to look as clutter free and spacious as possible. Remove any excess furniture and large furniture to open up the rooms. Tip: rent a storage building if you do not want to give up that excess furniture or items, it’s worth the extra money.

Clear your counters, table tops, dressers and remove the personal pictures. I have personally shown homes and have had buyers focus more on who the seller are, trying to determine their motive and reason for selling than the home itself.

Clean, clean, clean…make sure your walls, trim, doors are smudge free, windows sparkling clean, repairs any item that is broke, leaking  or damaged, like windows, ripped screens, roofs,  faucets or stained ceilings.

Another great tip is increase the light bulb wattage in rooms, especially dark rooms. Open up your blinds and draperies; let the sunshine in making your rooms bright and cheery.

Paint rooms that need to be refreshing up with neutral warm colors.  Replace old or stained carpets and flooring with neutral colors. I suggest using the same color carpet through out. The floor plan tends to flow better.

I love animals but you need to remove them when the home is being shown, as well as any signs of them living in the home. Fido is often not friendly when strangers come in their home or can be over friendly; distract the buyer seeing all the aspects of your home, since Fido is begging for all the attention. Ask a friend or neighbor to give you an honest opinion if they can smell any animal odors. It is of the utmost importance to remove any smells due to an animal.

Talking about odors, smoke smells need to be removed and eliminated or it will seriously affect the chances of your home selling and value of your home. This is a more in depth process and takes several steps to get a home smoke free. It can be done. I have arranged for it in several homes.

Now that your home is dressed for success and ready to be shown, it’s best to be gone during the showings, remember to take your animals with you! This helps the buyer be more relaxed in your home, free to look at the size of closets, drawers and rooms without that feeling of invading the sellers’ space. You can play nice soft music in the background and have all the lights on in the home, which add that special ambience to your home to make your home stand out as compared to other homes they maybe inspecting that same day.

Just pretend you are a buyer looking at your home, this will give you the right perspective and understanding on how to dress your home for sales success!

Good luck and happy home selling!

Wherever you end up this holiday, I wish you a happy and safe 4^th of July close to  family and  friends.

The public notices are out; the Homestead Exemption filing period is open and runs until August 15, 2008. This exemption is granted to persons who have been a resident of SC for at least one year prior to December 31, 2007 and who have reached 65 on or before December 31, 2007 or 100 percent totally and permanently disabled or legally blind on or before December 31, 2007.

The exemption exempts all qualified persons from paying the first $50,000 of the appraised value of your home if owner occupied. You must file by August 15, 2008 to receive the exemption!

This exemption may save you several hundred dollars on your real estate tax bill this year. If you have any questions call the County Auditors Office at #642-1514 before the deadline!

What a fun event…Outback Restaurant had a full house for lunch. Local Realtors were the waiters for this event, working to earn tips for the Habitat Build Fund. We SOLD OUT for the event, which was awesome for the very first time the Aiken Board of Realtors tried event like this.

Thanks to all my friends, clients and customers who supported the Outback Luncheon by either buying tickets, graciously tipping your questionable wait staff's service or by giving a donation directly to this worthy cause. It would not have been as successful without your support and help. I understand we are getting closer to our $50,000 goal!

Thanks again… you are the best!

I recently asked Matt Hunter to give me an update of what’s going on in the local mortgage market as far as interest rates and different loans available.  Here’s what Matt Hunter recently  emailed me:

As far as rates go, things have been relatively quiet.  For the week ending June 20th, the rates were been steady and had eased a bit.  As of today (6/24), we are at 6.25% for a 30 Year Fixed and 6.00% for a 15 Year on Conventional Loans and 6.375% for a 30 Year Government loan.  Rates go up like a rocket and float down like a feather.  Look for positive economic news and the threats of inflation to continue to impact the interest rates, making it a very volatile market.

As the mortgage market has tighten it's belt, we have lost many of the 100% programs.  The only true 100% loan currently available is through the USDA Rural Development program.  The program offers the ability to finance the Private Mortgage Insurance on top of the loan amount without any month MI.  The draw back to the program is that the home has to be located in an eligible area.  In Aiken, that is generally outside of the city limits.  There is a website that you can use to determine eligibility based of the street address or Sue Wrens, our local

As an alternative, borrowers and sellers can participate in a Down Payment Assistance program through the FHA.  This allows the seller to gift the buyer a down payment through a third party company.  The down payment is essentially added to the purchase price of the home and in a solid market like Aiken, having the home appraise at the higher sales price is usually not a problem. 

Matt Hunter

Hunter Mortgage Inc

803-644-4010 

Even though the mortgage market has tighten there seems to be some good options still available for people wanting to buy a home with a low down payment in Aiken. Matt can explain and help you understand the programs. He can assist you on deciding what program fits your needs. Taking the time to meet with a loan officer like Matt Hunter first, is the smart way to start, when thinking about buying a home!

Just a reminder that this Wednesday June 25^th, Brandi and I will be working as celebrity waiters at Outback Steakhouse for lunch 12:00-1:30PM, to raise money for Habitat for Humanity a wonderful charity. 

We really need and want your support, so please come out and enjoy a great meal and we’ll do our best to provide with the same exceptional service we provide in real estate. I am sure we will provide some memorable moments and at least bring a smile to your face while watching us trying to not to drop or break anything!

If, you can not attend this event and would like to donate to this worthy cause you can write a check to the Aiken Board of Realtors Habitat Fund and we will be happy to pick up your donation personally!

There are some tickets still left. Tickets are $15.00 and you will receive a salad, choice of steak or chicken and choice of potato or vegetable. Tea and water will be offered at no charge. Please plan on arriving anytime between 12pm & 1:30pm for lunch. Don't forget to tip your celebrity waiter. All proceeds to benefit the Aiken Board of Realtors Habitat for Humanity Build Fund.

For further info please contact Brandi Cook at 803.644.1723 or Vikki at 803.644.1720 or pick up your tickets today at the Aiken Board office! Bring your friends, family, clients, co-workers.

Thank you for your support!

The Five Most Important Reasons a Home Sells...

1.     Location

2.     Price

3.     Condition of Property

4.     Terms

5.     The Realtor YOU Choose

YOU control Four of these!

The location of your home you can not change but there are four very important factors you have control over, can improve on or change.

With larger inventory of homes available, translating into more competition when selling your home. I thought over the next week I would discuss how to best prepare your home for success for the current real estate market, pricing strategies and how to best market your home to let the buyers know your home is available and for sale.

I recently enjoyed a fabulous meal with some friends at Olivia's. It is a small, quaint restaurant on 126 Lauren's Street, NW, almost next door to Meybohm Realtors Downtown office. The atmosphere is pleasant and décor is very modern.  There's a bar where you can be served your dinner or enjoy glass a wine while waiting for your table, as well as converse with the staff or other guests.

We experienced wonderful service, fantastic food and delicious desserts. The calamari was excellent! Olivia's is only open for dinner only at this time and reservations are recommended. When we were there they were in process of fixing a part in the air-condition system, hopefully that is fixed now since the summer weather has arrived.

Olivia's

126 Laurens Street, NW

803-514-2573

The average home sale for the time period of Jan.1, 2008 to May 31^st, 2008 is $184,812 and the median home sale is $149,900. The same time period in 2007 the average sales price was $180,773 and a median sale was higher at $152,858. The days on market increase by about 6%, to 168 days as compared to 159 days on the market in 2007. The sales volume this year is $104, 603,717 down from $125,817,897 in 2007 (down 17%.*)

So what does this all mean?????? Average and median home prices are hanging very close to the same as last year, while one is up the other is down. We have had less sales volume of homes; it is taking longer to sell a home and increased inventory of homes. Still a buyer's market but our average sales prices are not dropping substantially based on current statistics. 

We did have two very large homes sales (over $4,000,000 combined) in that time period that affects the data. It will be interesting to see in the next few months what the data reflects. I personally feel there had been about 3-8% drop in prices in some of higher price ranges as compared to the lower the price range. Homes that are priced to the current market conditions still sell timely, usually within a 97% list to sell ratio. Pricing and condition is the key to selling your home in the current real estate market.

*Sales data based on Aiken MLS sales data for the time frame of 1/1/08-5/31/08 and 1/1/07-5/31/07

Showing up in front of world class sporting and luxury properties that are offered for sale all over the Aiken, SC area is distinctive wrought iron sign; the new Meybohm FINE sign.  Meybohm Realtors has developed a new marketing division called Meybohm FINE, an exclusive marketing avenue which fulfills the needs to effectively showcase our luxury real estate. Our new program encompasses local, national and global marketing efforts.

Forget what you think you know about the local real estate landscape, because everything has just changed. This new division is dedicated to providing the level of service and marketing expertise the finest properties deserve.

As the largest real estate company in the Aiken and the  Central Savannah River area, Meybohm Realtors  in a unique position to bring resources and talent necessary to mount a word class campaign to sell your sporting or luxury property. The combination of those resources, with the Realtors who names have been synonymous with excellent service and quality, creates nothing short of the FINEST real estate division ever assembled. When we recognize a certain level of quality in things like in art, jewelry and homes there is only one word to describe their excellence. FINE.

The new sign is just a small taste of what the Meybohm FINE marketing program includes and offers.  Meybohm is in the process of launching a new website dedicated to the FINE program as well as a partner publications and advertising with www.LuxuryRealEstate.com . There are required criteria to qualify for the FINE program, one being a listing price of $600,000. To discuss this new opportunity to market your FINE property as it deserves,  call my direct line at  Meybohm Realtors at 803.644.1720, cell phone at 803.645.8008 or email me at  Vikki@VikkiCrossland.com

The second quarter of 2008, the Aiken, SC home sales statistics remain very similar to the first quarter of the year. The biggest change was in the sales data was the 20% increase in homes sales in the $300,000-399,999 price range; based on Aiken Multiple List System data from 1/01/08 to 6/01/08. Currently they’re 1,488 homes available in the Aiken Multiple List System for sale, 206 pending contracts, with an average of 104.8 homes closing contract per month as of 6/1/08. The average sale price is $188,113 up slightly from the first quarter of $182,542.

I personally experienced more transactions in the  homes I have  listed, pended contract or sold this past 60 days in the  higher listing price range of $299,900- $500,000 as compared to the first quarter of this year where most of my sales range where $200,000 or less.

There are definitely more buyers seriously looking at real estate.  Several are taking advantage of the increased inventory, relaxed pricing, negotiating some wonderful values, as well as getting some great low interest rates.

Brandi and I will be working as one of the celebrity waiters (not so sure about the celebrity part) to raise money for one of our favorite’s charities Habitat for Humanity! A very worthy and appropriate cause especially for Realtors to support!  We really need and want your support, so please come out and enjoy a great meal and we’ll do our best to provide with the same exceptional service that we provide in our real jobs as Realtors! I am sure we will provide some memorable moments and at least bring a smile to your face while watching us trying to not to drop or break anything!

 Tickets are on sale TODAY for the Realtor Habitat Build lunch at Outback Steakhouse on Wednesday, June 25th! Tickets are $15.00 and you will receive a salad, choice of steak or chicken and choice of potato or vegetable. Tea and water will be offered at no charge. Please plan on arriving anytime between 12pm & 1pm for lunch. Don't forget to tip your celebrity waiter. All proceeds to benefit the Aiken Board of Realtors Habitat for Humanity Build. Limited tickets are available; please contact Brandi Cook at 803.644.1723 or Vikki at 803.644.1720 or pick up your tickets today at the Aiken Board office! Bring your friends, family, clients, co-workers and support this worthy cause!!

I just received this update from Matt Hunter…as the Mortgage Worlds Turns

Vikki

More Strange Trippy-ness!

We have really ridden a roller coaster this week.  Mortgage bond prices fell pushing mortgage interest rates higher. Rising inflation fears dominated trading. Oil prices hit all-time highs as the price of a barrel eclipsed $135. Fortunately the steep price increases subsided in overnight trading Thursday evening. Mortgage bonds were able to bounce back a bit Friday morning erasing some of the prior losses and helping rates recover.

For the week, interest rates on government and conventional loans rose by about 1/4 of a discount point.

Market conditions that often lead to mortgage interest rate volatility are thin trading and shortened trading weeks. If very few market participants are buying and selling bonds, the potential for short-term volatility is escalated. A large buyer or seller can execute trading orders that, without additional traders to buffer out the extreme buying or selling, can lead to swift market movements. In addition, shortened trading weeks have the potential to compress a week’s worth of trading into fewer days. Bond traders often take defensive positions ahead of weekends and holidays to guard against unforeseen events that could possibly jeopardize their investments. This positioning can be beneficial or detrimental to mortgage interest rates. If investors sell stocks and buy mortgage-backed securities, mortgage interest rates will improve. However, if investors sell mortgage-backed securities and hold cash positions, mortgage interest rates will rise.

Holidays can often result in volatility as trading resumes following the extended close. This week could result in market swings that are favorable or negative in nature. Considering the heightened possibility for mortgage interest rate volatility, a cautious approach to interest rate exposure is prudent.

Provided by Matt Hunter at Hunter Mortgage

Written and Provided by Matt Hunter of Hunter Mortgage

What a long strange trip it's been!

As the "mortgage crisis" continues to evolve, lenders are certainly tightening their belts.  Interest rates continue to be very volatile and seem to go both up and down about an 1/8 of a point each day.  We've seen a consistent 1/4 point difference from the beginning of the week to weeks end.  That trend has continued over the last three weeks. 

The Fannie Mae underwriting standards are going to change at the end of the month and are supposed to make it harder for borrowers to qualify under their conventional standards.  It appears that government loans are the best financing option for many borrowers.

Look for things to continue to evolve through the end of the summer.  As the market begins to settle down, we may see a return to normalcy and relative loosening of the underwriting standards and rates.

For further info or questions contact Matt at Hunter Mortgage Inc. 803-644-4010

Note from Vikki…I thought having a mortgage lender providing weekly updates on what’s happening with interest rates, new loan programs, lending trends would be informative and helpful.

Thank you Matt Hunter!

Every Monday evening from May to August, Hopelands Gardens showcases local and regional artists in their annual summer concert series.  Nestled inside an ancient brick wall and beneath a wondrous canopy of oaks, cedars, and magnolias, Hopelands Gardens is the perfect place to enjoy tranquil music in the lazy summer twilight.  This Monday May 26, celebrate Memorial Day with the soothing sounds of the Aiken Civic Ballet.

And, did I mention that it is completely free.  So bring a blanket, lawn chair, friends, family, or even a picnic supper and enjoy the peaceful experience that is the Hopelands Gardens Summer Concert Series.  Concerts begin at 7:00 pm on the Roland H. Windham Performing Arts Stage.  For a complete listing of summer concert artists and dates visit www.aiken.net/hopelands_gardens  

Calendar: Every Monay from May thru August 7pm – 8pm

May 5              Aiken Community Band (Sponsored by Security Federal)

May 12            Oompah Band

May 19            Savannah River Winds

May 26            Aiken Civic Ballet

June 2              Carolina Rebels

June 9              Ft. Gordon Concert Band

June 16            Maureen Simpson and Friends with Aiken Choral Society (Sponsored by Smith and Barney

June 23            Preston and Weston featuring Sandra Simmons (Sponsored by Their biggest fan

June 30            DePriest Trio

July 7               US Marine Corp Band-Parris Island Marine (Sponsored by Screen Print)

July 14             Chris Mangelly

July 21             Alysa Smith

July 28             Aiken Brass

August 4           Ft. Gordon Dixieland Band (Sponsored by Aiken Country Shrine Club)

August 11         Fabio Mann and Friends

August 18         Southern Nights (Sponsored by Smith and Barney)

August 25         Aiken Community Band (6:30pm) (Sponsored by Security Federal) 

Summertime is just around the corner, and our summer edition of Meybohm Realtors Real Estate Guide for Aiken just came out and is in stands around town. This issue's cover is the prominent water fountain with the children under an umbrella located in downtown Aiken. If you would like a copy just let me know by email at Vikki@VikkiCrossland.com or call me at 803.644.1720. I'll get you a copy!

I am personally experiencing some increase of activity in the real estate locally, this May as compared to the first few months of 2008.  Late spring and early summer are always a popular time to make a move or change. Inventory of homes is strong, the rates are still very low, and pricing of homes are relaxed. It makes good sense to buy if you are a first time buyer, investor, looking for a second home,  relocating to area where the real estate have been depreciated or want to upgrade to a large more expensive home. Let me know if I can assist you in this unique opportunity.

Most buyers live in their new home for over 5 years or more, if that fits you it almost always makes sense to buy rather than rent, in practically any market, especially in Aiken where it has a history of a slow, steady appreciation over 5-10 year time period.

Why? First, in the event you are thinking about taking “a wait and see” approach because you want to “time the market” to get the very best deal. That is almost impossible to do with any accuracy. Even in declining market prices the most knowledgeable experts can not reliably anticipate “the bottom” of the real estate market. It’s easy to go back and say the market turned at a certain time, but before the turn, no one knows until after it started or after it has happened. You have lost your advantage.

If, you are not a home owner you are a renter, just throwing money away month after month. You do not get the advantage of reducing your income taxes by itemizing deductions like property taxes or mortgage interest.

As a home owner, you can have the freedom to change your living quarters by painting, remodeling  and decorating to your personalize taste. As a renter, you have to obtain permission from your landlord, then you are investing your money and efforts into your landlord’s real estate investment.

 Thirdly, the interest rates are great;   they are low and there are new loan programs like the Palmetto Hero for Teachers with limited funds, increased FHA housing limits up to $271,050. If you wait, the rates can go up, which means higher monthly payments and reduces the amount of mortgage loan you can qualify for.

Plus, one of the easiest way to accumulate wealth is through home ownership. Real estate is a long term investment. Investing in an area that offers a more steady growth like in Aiken, SC which is more predictable and a safer long term investment  versus a rapid growth area.

Lastly, the inventory of homes is high, prices are relaxed, sellers are more willing to consider an offer and negotiate as compared to 2006 or 2007.

Thinking the time might be right for you to buy a home? Then talk to real estate professional or give me a call at 803-644-1720. We can see if the time is right for you!

I read this line recently in Florida Today newspaper in the real estate section; a very simple true statement. In any area, (even Aiken, SC) it really doesn't matter what type of real estate market it is unless you plan on buying or selling a property. Which raises the big question should you buy a home in Aiken, SC in today's real estate market?

I will discuss this topic in length in my next few blogs; there are several aspects to consider, way too long in one blog.

Let's start off with a reason not to buy a home right now.

A rule of thumb, it rarely makes sense to buy if you expect to move in two years, that's because when you do sell there are costs associated with selling a property. So buying a home when you expect to move before too long is a risk and you mostly likely will have some loss.

Imagine if over 20-30 year time period, you only purchased 10 properties that became investment proprieties. By the time you get ready to retire you would have them almost paid off, starting to earn passive income and have built a large amount of real estate wealth. Let's use conservative examples of each property only being worth 150,000 each in 20 years and bringing in $900 a month. That's 1.5 million dollars of real estate and $9,000 monthly income. That would certainly supplement your retirement income.

That example alone is something to ponder. If this is the opportunity you've been waiting for, buying in a buyer's market makes it better yet! Contact me if you would like to discuss this unique opportunity further and how it may work for you.

On Sunday April 27, the Aiken Bicycle Club will host a family ride through Aiken to benefit Aiken Board of Realtors Habitat for Humanity Build fund. The ride will be led by local cyclists who know the area and can give assistance to anyone who may need it.  The Family Ride will be a relaxed and laid back journey through ten miles of historical Aiken.  A sag wagon will be available for those who need assistance or decide they could use a motor powered vehicle instead of a manual one.  All ages are welcomed! I plan on being there and riding along as well as my son, Keith and 4 year granddaughter Haley. Brandi Cook my daughter and associate will be a volunteering that day.

There will be   two rides, one at 10:00 am and the other at 2:00 pm on Sunday April 27^th. The ride will begin and end at H. Odell Weeks Recreation Center at 1700 Whiskey Road, Aiken, SC 29803. Dust off your bike, grab your gear, bring your children and friends then join us for a fun filled day to get fit, see Historic Aiken in a different perspective, and support Habitat for Humanity.  Registration is $10 per person or $25 for a family of three or more. Make the checks payable to: Aiken Board of Realtors. I would suggest your get there at least hour before to get settled and registered. For more information call Aiken Board of Realtors at #803-648-1891 or #803-215-9845 or call Brandi at 803-644-1723.  We  hope we see you there!

SC State Housing Authority is excited to announce our 2008 PALMETTO HERO PROGRAM.   The Hero selected for the 2008 initiative is “Teachers”. The applicant must have his or her South Carolina Teachers Certification and currently teach or they must have a contract to begin teaching within 60 days of purchasing the home. He or she must live and teach in South Carolina.  Applicant's that currently own a home or have previously owned still may qualify. The program also offers teachers a reduced mortgage interest rate and down payment assistance based on their income.  The program will be limited to $20 million (around 100-150 total loans across state of SC).  Loans are on a first come serve basis. You need to act fast since the funds are limited! For further information and assistance on this unique opportunity contact me at 803.644.1720, Vikki Crossland-Meybohm Realtors.

Based on recently released sales data there is an increased amount of inventory homes, the  Housing Affordability  Composite Index  based on report by National Association of Realtors is the best it’s been since 2005 and the interest rates are low! Now is the time to take advantage of the lower pricing; builders and sellers are open to consider offers and terms in our current real estate market. You can wait and adopt the “wait for the bottom” approach, but when you know the market hit the bottom?  The real estate market can change quickly, once you realize it has changed, the prices have headed upwards and you have lost your advantage.  If, you are considering buying your first home, purchasing a 2^nd home, an  investment property or making a move up to a more expensive home this is good time to start looking and buying before you lose the luxury of time. I would be happy to discuss this unique opportunity to see if it’s the right time for you to make a move on the market. You can call my office at 803.644.1720 or email me at Vikki@VikkiCrossland.com

Let’s face it, not all homeowners’ insurance policies cost the same.  Your neighbor’s premiums may vary by hundreds of dollars from yours, while still covering virtually the same aspects.  Below are a few tips to help you save your hard-earned cash:

Shop Around.  Contact your state insurance department (South Carolina Department of Insurance=www.doi.sc.gov or 803-737-6160)  They usually list typical rates on all major insurers in your area.  Also, do some research on your own.  Check the Yellow Pages, ask your friends, and get online quotes to compare coverage and rates from a variety of carriers to ensure that you are getting the best deal possible.

Look for Other Discounts.  Some insurers offer discounts up to ten percent if you are over the age of 55 and retired because retirees spend most of their time at home and are more likely to spot fires or other disasters.  Also, some insurance companies offer multi-policy discounts.  For example, if you buy your homeowners and automobile insurance from the same company, they may discount your premium up to fifteen percent. 

Raise Your Deductible.  Deductibles are the amount of money you have to pay toward a loss before the insurance company starts to pay a claim.  The higher your deductible, the lower your monthly premiums (in most cases).  Most insurance companies recommend a deductible of at least $500.  But if you can afford to raise it to $1000, you may be able to save up to 25 percent. 

Make Sure Your Home is Safe.  Homeowners that install certain safety features, like a burglar alarm system or deadbolt locks, can save a bundle in their monthly premiums.  Also, find ways to make your home more disaster resistant; reinforce your roof or add storm shutters in order to reduce those premiums. 

Review.  At least once a year, review your homeowners’ insurance policy to cover any major purchases or additions to your home.  Update your home inventory and remember that some possessions depreciate over time, so don’t buy coverage you don’t need. 

On April 7-13, the world's best professional golfers return to Augusta, Georgia for the first of the major PGA championships:  The Masters.  During this spring week, Augusta will certainly be frantic with concerts, street vendors, and a multitude of tourists, which undoubtedly boosts the city's economy and cultural development.  However, the famous golf tournament also benefits surrounding areas of the Central Savannah River Area, particularly Aiken, South Carolina.  Because some visitors often try to avoid the large crowds in Augusta, golf patrons from around the world regularly reserve hotels in Aiken, and simply make the twenty-minute drive over the river for the tournament.  In fact, Hotel Aiken, an old-fashioned and prominent establishment in the downtown area, is booked solid throughout the week as well as most of the other hotels in the Aiken area. Downtown and Southside of Aiken offer a wonderful array of restaurants, great shopping, fabulous recreational faculties, award winning golf courses and communities.  There are no doubt the many golf courses throughout Aiken area will be brimming with golf enthusiasts eager to enjoy the weather and attempt to match the skill they witness at the tournament. For a pleasant, more peaceful day, drive over and visit Aiken's Downtown known for its fine and unique restaurants, eclectic shopping or take a walk in Hitchcock Woods, one of the largest urban forests in United States.  Come on, take a break from the crowds and see how truly special Aiken, South Carolina is… you'll be glad you did. Hey, you just might want to make Aiken, SC your home!

Homes under $250,000 show the strongest sales, accounting for over 75% of the residential home sales in the Aiken area based on Aiken Multiple List System (MLS) data. As of 3/31/08 there were 195 closed sales with a total sales volume of $39,614,502.

Based on the Aiken MLS there are currently 897 active home listings in NW, NE, SE, SW and rural Aiken as of 3/31/08.

The NAR report reflects an Average Sold Price for that time period was $203,151, with a Median Sold Price of $160,900.  I personally do not find the Median price as useful as the Average Sold Price. Let me explain why. One extremely large sale can raise the Median Sold Price which would not give the public a real picture of home values in Aiken, SC.  It is simply the point at which half of the homes in Aiken sold for more, and half sold for less. If, a large amount of homes are sold in Aiken where home prices are high, the median sales price will trend higher. If, a large amount of homes are sold in Aiken where home prices where low, the median sales price will trend lower. Again, all that the Median Sales Price tells us is the price point at which half the homes in Aiken sold for more, and half sold for less.

Per the NAR report the average days on market is 174, (with a range of 40 to 281 days), which based on the current Aiken MLS reporting guidelines is the day the home is listed to the day it closes contract. This data includes all new construction and resale homes; taking in account the fact a new home may take 6 months or more to build the data can easily be misinterpreted and misunderstood. An experienced Realtor preferably a Certified Residential Specialist will give you the real picture, understands how to interpret the sales data properly and how it will relate to you’re your specific community and your property or home.  

             This weekend (March 29), Aiken rounds out its annual and famed Triple Crown with Pacers and Polo, a series of polo matches held at Powderhouse Fields.  While not as famous as the other two legs, polo is somewhat of a hidden gem in the Triple Crown.  Fast-pace and up close action, along with the competitiveness of the riders and the elegance of the horses, certainly provides spectators with exhilarating entertainment and a regal atmosphere.   

Next to golf, polo is quite possibly the most historically important sport to Aiken.  For 126 years, polo has been played at Whitney Field, making it the site of the longest consecutive period of play on one field in the United States and the oldest polo field in the country.  The first match was played in 1882, a mere six years after the game was first introduced to the United States.  Citing these facts and with the establishment of fourteen other fields in the area, it is no wonder Aiken became known as the “Polo Center of the South.”  Today, matches are played nearly every Sunday throughout the spring and summer.  Visit www.aikenpoloclub.com for more information about this sport of kings and don’t forget to pick up your tickets for this weekend. 

When asked to describe Aiken in one word, most visitors to the area use “unique.”  Now, our charming city has proof to back this claim.  Recently, the National Trust, a nonprofit organization dedicated to preserving historic areas and revitalizing communities, chose Aiken as one of its Dozen Distinctive Destinations for 2008.  The award touts Aiken as the perfect place for a great vacation, citing the city’s multitude of historic landmarks and architecture, picturesque parks and gardens, beautiful shops, and an entire variety of recreational activities.

            To be selected as one of these twelve communities, the honoree had to offer a rare visitor experience, show a commitment to historic preservation, and display intriguing cultural and architectural models, among other things.  With its elegance of sophistication mixed with an old-world style, there is no doubt why this honor was bestowed on Aiken out of a field of over sixty cities from across the country that received nominations.  On March 27, the Aiken Historic Foundation will celebrate this award at the Downtown After Six event.  So come see for yourself, Aiken is truly a special place to call home!

For over 70 years, visitors and locals flock to Aiken’s Spring Steeplechase eager to gather among good company, enjoy fantastic parties and food, and make a few friendly wagers, all while taking pleasure in, quite possibly, the best known steeplechase in the world.  This series of horse races have evolved from small, jumping races in Hitchcock Woods for Aiken’s elite to fantastic family galas attended by thousands.

            The steeplechase originated in Ireland in the 19^th century.  This cross-country horse, aptly named because racers would travel from one church steeple to the other, soon developed into a track race and became highly popular.  Thomas Hitchcock, one of Aiken’s most famous citizens, helped popularize the sport in the area by building the steeplechase training center for his horses imported from England.  Likewise, F. Ambrose Clark, a wealthy northerner who owned thousands of acres in Aiken, built Ford Conger Field in the early 1960s, and steeplechase races have been held there ever since.

            This Saturday, March 22, will mark the 42^nd running of the nationally sanctioned Aiken Spring Steeplechase.  Don’t miss your opportunity to see this popular Aiken horse event where you can enjoy great horse racing, a variety of good food, wonderful people watching and good ole fashion family fun.  

Meybohm Realtors continues to keep up with the digital age. A new interactive window display, aptly named Windo Vision Virtual Tour 24/7, is a futuristic marketing service provided to our clients. Currently located in the downtown Aiken office, the system allows you to take virtual tours of all our listings as well as specifies important information about the property. As a unique bonus, every week I personally add commentary for each of my listings to ensure that you are aware of the latest developments. It’s certainly safe to say that I keep busy by providing this special touch. The system is open 24 houses, so there is no excuse for not finding your dream home.

After several years of whirlwind appreciation, real estate prices have adjusted and the market has transformed into a buyer's dream. These falling prices couples with low interest rates and a healthy inventory of homes certainly is good news for buyers in Aiken, South Carolina. But, seize this opportunity now while you still can because the market may change before you know it. As we all know timing is everything and now is the perfect time for you to make your lifestyle dreams a reality.