Columbia, Sc Real Estate Market
Posted on March 15, 2009
Filed Under foreclosure short sale investing |
Columbia, South Carolina has one of the best real estate markets for investing. Columbia real estate moderately priced, not too much higher or lower the national average for home prices. Even so, the real estate market in this area market is experiencing a period of growth. Currently there are indications that profits can be made from investments in Columbia real estate. It isnât one of those cities where the sellerâs have absolute control, so investors wonât be making huge profits hand over first. But it also isnât a strong buyers market, so sellers havenât relinquished all control of the market.
To be successful in Columbia real estate investments, it is important that investors are aware of the kind of investment strategy to use for the area. There are no opportunities or investors to make quick gains in the area. However, if the market continues to grow at the current rate and the demand continues to increase there could be the potential for such gains might be available at some point in the future. Investors should keep a watch on the trends for such an opportunity.
For investors to be successful in Columbia real estate investing, they must be patient with the real estate market. The market does not have the conditions that are favorable for investors to make significant gains in a short amount of time. Investors that are familiar with market trends and have the ability to wait on the market will receive the most financial gain for their investments. Other investors will do good to break even in the market.
Investors must have properties priced right for them to sell. Properties that are priced too high or too low could sit on the market for weeks or even months without selling. Buyers arenât jumping at the opportunity to purchase homes so they wonât settle for anything less than want they want. Setting the right price is kind of like playing a game. Unless investors play by the rules, they could find themselves in possession of property that they arenât able to get rid of.
Both investors and home sellers will receive the best results by setting home prices right the first time. If this doesnât happen, buyers might ignore the property and it could be left sitting on the market for an extended period of time. The seller might adjust the price several times while the property grows stagnant and unattractive. Meanwhile buyers are spending their time on properties that are priced the way they would like for them to be.
Setting the right price for Columbia real estate isnât difficult. The best way to determine selling price is to compare to properties that have recently sold in the area. By doing this you can an estimate of the prices that are attracting buyers.
Because price is one of the most important things right now for Columbia real estate, investors and home sellers alike must set the right prices for properties to make the sale as timely as possible.
Ben Hirsh
http://www.articlesbase.com/business-articles/columbia-sc-real-estate-market-98476.html
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6 Responses to “Columbia, Sc Real Estate Market”
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Real Estate Market in phoenix?
Husband and I are considering purchasing a 2nd home in phoenix Arizona. We currently live in British Columbia.
Can anyone advise on the current market, where it is headed, and whether or not it would be a sound investment? Thx.
I'm in Mesa and this is the same question that all of us are asking. We are going down rapidly. My friend bought a house in 2004 for $160,000 brand new and beautiful. In 2005 she was offered $230,000. WOW. It is now worth $110,000. She has gone from "up" $70,000 to "down" $50,000.
So all of us just want to buy before it jumps back up but we don't want to buy and feel silly if it goes down some more.
I wonder if the Psychic Live Line is still open?
As far as a sound investment. …. A 3 bedroom house costs $150,000 in a nice neighborhood and rents for $900 (i'm being conservative). That doesn't make it much of a profitable enterprise. You would be buying for the future. Many people see that house selling for $350,000 in 10 years. 10,000 people a month move to Phoenix.
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Pretty much anywhere you can buy a house in the US right now is a good investment. However I should mention that if you need to finance, it will be very difficult right now, especially because it is not your primary residence. Lenders are much tough than they were even a year ago, and they know you can walk away from a second home and not be homeless - so they are tighter with their money.
Phoenix is low now, but if you want some place warm Florida is really in the toilet. You can pick up a brand new (I mean never been lived in built in 2007) four bedroom three bath home in St Lucie or Indian River County for $165,000.
Good luck -
PS - I sold my Central Phoenix home in 2006. I purchased in in 2004 and made $100K on it. Thank GOD I sold when I did. For those of you still there - just hang on if you possibly can. Don't try to sell now!
PPS - I have to totally disagree with Paul in San Diego. Phoenix is a MUCH better buy than San Diego and really has just as much to offer. It's just a matter of preference, really. I happened to LOVE the heat and hiked/biked all summer and winter long in Phoenix's beautiful city mountain preserves. There are mountains and a 30 - 50 degree temperature drop just 90 minutes north for cooler summers and skiing in the winter. There are fabulous museums, restaurants, sports teams and public services (the library system and community college systems are the best I've seen). All this and the taxes are unbelievably low.
Phoenix is a great, great city…why else would so many Californians move there ??? ;o)
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Phoenician for twelve years and sorely missing it!
Avoid Phoenix. It was one of the fastest declining markets out there, particularly because it isn't really that great of a location. It's in the hot, dry, harsh desert. People only started moving there because it was so cheap. Then prices went up and the place got horribly overbuilt. So now, not only do you have all the foreclosure inventory in the housing market there, but there is simply way too much housing than there are people to buy it.
If you're serious about investing in the US, try looking in San Diego, California. San Diego built up a lot of inventory in high-rises. But, people don't want to live in the downtown condos, because the association fees can be outrageous (like $1500 a month). Plus, the San Diego market is going to bottom out in the next 12 months and start back up. But, Phoenix will still be depressed for at least 2 or 3 more years.
Go to http://www.sdlookup.com to see listings of properties for sale in the various areas of San diego County. I'm in escrow on a 2BR 1-1/2 bath condo in Clairemont (about 5 miles from the beach) for $202K that sold in 2005 for $375K (currently appraised at $215K). It's move-in ready, and my wife and I are going to rent it to our kids while they go to college for about what we'll be paying for the mortgage.
And 7 to 10 years from now, when it gets back up near the $375-$400K range, we'll sell it (maybe even to one of our kids).
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Try Santa Fe New Mexico - nice place.
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real estate here is amazing now. more and more banks are closing means better for you as a new buyer, i seen newier homes in queen creek for 70's Yes 70.000 good clean homes. I seen homes all over the valley for killer prices, I work in real estate in some areas and i can tell you there are some hidden treasures. I seen a guy last week buy a 2.700 sq foot home for 94.000 from the bank they wanted what was owed, come on in and look around you eill find deals like nothing else. at least now if you get approved for the home its not because they want to give it to you its because you have good credit, Your also not getting screwed
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real estate agent, work in this area to, friends,