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Columbia, SC Real Estate News

By Terry Edwards
(Russell & Jeffcoat Real Estate Corp.)
Tom Tresh, the 1962 AL Rookie of the Year and part of three New York Yankees teams that reached the World Series, died Wednesday of a heart attack. He was 71. Tresh made the 1962 American League All-Star team as a shortstop and made the team again in 1963 as a center fielder. He later earned a Gold Glove in the outfield. This is a picture of my first Rawling's glove, a Tom Tresh model from 1964. Rest in peace, Tom.   Terry Edwards www.FeaturedColumbiaHomes.com
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A week doesn't go by here in Columbia, SC without being asked, "What is a FROG?" I am almost tempted to not to write this blog. Hey, I am a salesperson I want people to have a reason to call and consult me. My sly side wants to make up some hokey acronym. Okay, enough stalling. The answer is... Finished Room Over Garage! In the Columbia market an extra living space over the garage is called a FROG. It is also an alternative to basements, which are very uncommon for our market. That is for another blog to explain the reason. FROGs are usually larger than a secondary bedroom, sometimes substantively. They can be 12' x 14', 14' x 15', 14' x 18' or larger. They sometimes have different "subsections" as well. They often do not have a closet but if they do, they can be considered a bedroom. P...
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By Terry Edwards
(Russell & Jeffcoat Real Estate Corp.)
Columbia, SC   Groundbreaking for a new service facility at the Columbia Metropolitan Airport is scheduled for this Friday.  West Star Aviation is opening their 5th regional maintenance and refurbishing location early next year. A large percentage of the 100+ new positions will be technical.  As a former techie I find this news exciting.  Anytime a new industry moves into Columbia it diversifies the workforce and strengthens our economy. West Star services private and commercial Learjet, Falcon, Cessna and Gulfstream aircraft.  The new center will include a hangar and a shop/office facility. www.WestStarAviation.com Terry Edwards    www.FeaturedColumbiaHomes.com
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By Troy Ott
(Coldwell Banker United, REALTORS)
1. Have your furnace inspected and serviced by a heating and air contractor; Dennis O'Neill 360-0093 (cell) dobomoko@aol.com is the best in our market   2. Leaking heat ducts can be a major source of energy loss. Look for separating ducts at joints and connections to equipment; to fix use a heavy metallic tape or a paint-on elastomeric sealer.  3. Insulate around heat ducts as this is an important part of their efficiency.  To insulate them use a spray adhesive to anchor the insulation if it is not firmly affixed.  If the ducts are old the insulation may contain asbestos, a health hazard.  Check with the environmental protection agency and American Lung Association for tips. 4. Check for leaks at all plumbing pipes and repair or replace leaking ones.  The pipes attached to the hot and c...
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By JL Boney, III, Columbia, SC Real Estate
(Coldwell Banker)
     You read the title correctly, if you are a renter, you still make a mortgage payment. Of course, you don't make your own payment, because you don't have a mortgage. You make your landlord's payment, and they certainly appreciate it. Because, while you're making their mortgage payment, they don't have to. They are either generating a monthly profit off of your payment, or they are basically receiving a "free" house at your expense.  Not to say the the property owner doesn't incur some expenses. That's the reason for the quotation marks around the word free. But, I can assure you that you are helping them tremendously and if they're intelligent investors, as most are, then they are getting the better end of the deal and reaping the rewards of their decision to invest in real estate. ...
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By Clint Hammond
(Mortgage Network, Inc)
2/3rd of the people writing mortgages a year ago are now doing something else. 66% of the industry is gone. I would guess that the same will be true for Realtors, appraisers, closing attorney's, etc., not to mention builders, in about 6 months, maybe less, thanks to the little 'lag window' in the financial and the 'boots on the ground' and/or the end user. The last figure I saw for Realtors in South Carolina (an area that has not been hit anywhere near the extent of other markets) was that the registered and licensed Realtors on the SC MLS was somewhere around 40% less than it was a year ago. The first wave of "flight minded" left obviously, and then a few that were financially unable to continue hung it up. After the last 26% close those last few deals and decide to cash it in or clean...
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By Chip Jefferson
(Gibbs Realty and Auction Company)
Columbia SC Real Estate information may come to you in a variety of ways. To better serve you I am looking to get some some feedback on what you do to get this information. Is it online or from a trusted Real Estate Agent? When looking at Buying a home in Columbia SC or when looking at selling a home in Columbia SC, what are you looking for in your Real Estate Agent?       What is your primary source for real estate information? Newspaper Directly from a real estate agent Classifieds Internet Friends and family  
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By Chip Jefferson
(Gibbs Realty and Auction Company)
5 tips for having a perfect Halloween Party Get Organized- Make a list of item you will need well in advance and along the way. That will eliminate those last minute rushes to the store. Fear Factor- When choosing a theme consider the age of the guests before determining how spooky things will be. For little ones you don't want scary or spooky. Calling all ghosts- Buy pre made invitations. Then spice them up with colored envelope's and stickers. Some people fret way to much over invitations. Set the mood- Decorations can be as simple as hanging streamers and bats, spiders and cobwebs. Fog machines are also fun. A little dry ice in a punch bowl has great effects. Light bulbs can be painted or bought to change the ambiance. Stir up a feast- You can serve children pizza,chips and the Hall...
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By Terry Edwards
(Russell & Jeffcoat Real Estate Corp.)
As older homeowners look to downsize and younger buyers eye their spacious homes, here are a few tips for appealing to today's buyer: Remove your older-generation items.   Remember visiting your grandparents home as a kid?  Can you recall how dated their furnishings seemed?  That is how younger buyers might perceive your home where you've lived for a long while.  Before listing your home for sale empty it of all furniture you don't absolutely need. Put the rest in a storage unit. Let the light shine in.   Unlike many older homeowners who have spent hundreds of dollars on draperies the younger home buyers prefer minimal coverage for their windows.  You can add inexpensive light blinds for privacy. Remove old carpeting if you have hardwood floors underneath.   Carpet was king in the '60s ...
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By Terry Edwards
(Russell & Jeffcoat Real Estate Corp.)
Friday was a day like no other in history.  Just look at the unbelievable numbers in the daily chart. The difference between the low and the high exceeds 1000 points!  That's scary stuff. I was reading earlier that since 1900 there have been 31 bear markets and 31 recoveries. I have no doubts that better times are ahead. Terry Edwards in sunny SC www.FeaturedColumbiaHomes.com
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By JL Boney, III, Columbia, SC Real Estate
(Coldwell Banker)
          General Information For Columbia, SC And Surrounding Areas   City of Columbia Columbia, South Carolina Chamber of Commerce Lake Murray Country Town of Irmo Irmo Chamber of Commerce Chapin Chapin SC Chamber of Commerce Richland County Town of Lexington Lexington County Lexington Chamber of Commerce Lexington Medical Center Richland County Public Library Palmetto Health System (Hospitals) Moncrief Army Community Hospital (Fort Jackson) Dorn VA Medical Center Richland County Licensed Child Care Locations Lexington County Licensed Child Care Locations South Carolina Information Highway SouthCarolina.com City of West Columbia West Metro Chamber of Commerce (Includes West Columbia, Cayce, Springdale, Pine Ridge, South Congaree and Swansea) Town of Springdale Camden & Kershaw County...
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By Clint Hammond
(Mortgage Network, Inc)
Not getting into it, just feel obligated to update you on where things closed. Dow was down 128 points at the close, finished the week at 8,451. S&P shed 10 points to close at 899 and the good old NASDAQ actually picked up 4 points to close at 1,649. We have a holiday Monday for the markets so the next update on that note will be Tuesday. The 5.5% FNMA continued it's plunge and was taken behind the old woodshed to close down 109bp on the day to finish the week at $98.25. Have you seen Charlie Wilsons War? The scene at the end when Tom Hanks and the other guy...his name escapes me, are talking and Hanks says something about how great it is with Berlin Wall coming down and the other guy's response, basically, is this little "story", I love it and thought it was relevant for the times we'r...
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By Clint Hammond
(Mortgage Network, Inc)
The first assumption that has to be made is that you have some optimistic tendencies or you wouldn't still be in the business. If my first assumption is incorrect, then you have not been paying attention and had you been paying attention, you most likely wouldn't have gotten out of the bed this morning. Chicken Little is all I can think about right now except it's not the sky that's falling, it's the stock market. And wow, when it goes, it goes. 1 year ago today, 10/9/07, the Dow Jones Industrial Average closed trading at 14,093.08. The NASDAQ was sitting at 2,805 and the S&P was hanging out at 1,561. Today, after 7 consecutive days of serious decline, the Dow shed another 678 points to finish at 8,579 (5,514 points lower than this time last year), the NASDAQ was rocked with a 95 point ...
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By Brian Foxworth SC, GA, FL, & TN Mortgage Loans
(Palmetto South Mortgage )
I've been pondering this past week about the best way to let everyone know I want more business. There have been several ways I've tried that were pretty expensive.   They got some results -but you have to keep doing them every month to stay in the minds of the people, so I started a new campaign that would always be in front of people where they would see me everyday. I suddenly remembered that we have pretty cool personalized tags here in South Carolina. Of course, with the rising gas prices a lot of people are walking to work, so I worked a deal with the city to install these around town so I could be contacted pretty quick. And to take advantage of our tourist spots I bought a Star in Hollywood, SC (yes, there is a Hollywood, SC)           Of course you can't forget Myrtle Beach one...
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The quick answer on "why this is important." Because your clients will ask you about it and if you don't know the answer, you fuel their fear. And as we've discussed, fear kills deals. Bottom line. If you, their real estate professional, don't have some grip on the financial markets, then you cannot properly advise them in their home buying process. If you do know the answers, you eliminate a lot of the anxiety that will be hoovering over your clients dinner table tonight while your well written and professional offer for that property they loved so much sits unsigned on the coffee table next to yesterday's mail and this mornings newspaper. (Remember, that newspaper has something called "headlines" on it and if you've seen those lately, they aren't exactly a "cure-all" for anxiety and f...
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By Terry Edwards
(Russell & Jeffcoat Real Estate Corp.)
I love that headline.  The SC state fair opens today and anyone over the age of 21 goes for the food.  I know, because as a kid I went for the rides.  But some where along the way my interests changed. You can take the poll at http://www.scstatefair.org/ to see what the most popular attraction is. It's truly amazing the things you can fry today: corn on the cob, elephant ears, doughnuts, vinegar (do you want fries with that?), Pepsi !!??, Oreos, funnel cakes, Reese's, mushrooms, Milky Ways, sweet potatoes, Snickers, and turkey legs.  I'll have one of each. Now, which way to the Tilt A Whirl? Terry Edwards, ABR www.FeaturedColumbiaHomes.com
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By Terry Edwards
(Russell & Jeffcoat Real Estate Corp.)
Copper Thieves In The Night I met with a bank appraiser at a foreclosed property yesterday and as we walked around the back of the house noticed a large hole in the wall with exposed duct work.  Thieves had backed up a truck and taken the central air unit.  The appraiser said he had seen the same thing the day before in an up-scale gated community. There seems to be no end to the ingenuity of making a buck. Terry Edwards in sunny SC www.FeaturedColumbiaHomes.com  
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By Clint Hammond
(Mortgage Network, Inc)
The FNMA 5.5% bond jumped around in a 53bp range today but was under profit-taking pressure because of the recent jumps. All surges have to have little retreats in order to sustain themselves and that's pretty much what we saw today. The bond wrapped up the day trading 19bp lower to close at $100.62. Only one or two lenders repriced from for the worse compared to their initial rate sheets of the morning and that was due in large part to the fact that most of the real damage was done early as we still closed up 28bp from the initial open, just down on the day overall and really no change from when most lenders came out with pricing. The stock market made a feeble attempt to rebound from yesterday's slaughter and the Fed tried to assist markets with a drastic and very far-reaching move wh...
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By Brian Foxworth SC, GA, FL, & TN Mortgage Loans
(Palmetto South Mortgage )
A few weeks ago I contacted a landlord that I had helped with financing one of her properties to the renters that had been in the property for 7 years. She had been very happy for the help and had even sent me other renters to help buy the homes she did not want anymore.  The reason for my current call 6 months later was to have her update the Verification of the Private Mortgage(VOM) she had given to me during the purchase transaction so that I could now refinance the clients and help them save over $200 a month due to the lower rates available. Since she and I had a great relationship 6 months earlier, I expected it to be no hassle and hopefully get some more referrals from her; however, I was sadly mistaken. Instead, she replied with a nasty tone in her voice, "YOU ARE THE REASON WE ...
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By Clint Hammond
(Mortgage Network, Inc)
Crazy week last week, global markets didn't get that 'rejuvination' needed over the weekend apparently. The Dow fell as much as 800 points during today's trading before mustering up a rally to close "only down 370 points" on fears that the bailout package may have been too little too late to stem any economic downturn. Bonds of course saw the benefit as investors found the safe haven of the bond market for their dollars. Our benchmark, the 5.5% FNMA mortgage bond, traded in a 68bp range and ended up closing at $100.81 which was 56bp higher than we started the day. This what I was calling for last week as we are trending higher but not as high as we should be when all is taken into consideration. The 10 yr T closed out the day up 110bp so there is still a bias to the "safer" government i...
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