Orangeburg SC Real Estate

The following article was not written by the blogger- but it is so much on target I had to share with you.

Sellers had it so good around Orangeburg SC Real Estate back in 2005-2006 that many never even did anything in preparation to sell thier homes. With less buyers fighting over homes and more homes wishing to be sold- it is time sellers did what they should have been doing all along- prepare the home to be ACCEPTED by the buyers and to obtain highest dollar in an otherwise down market- Mr. Sobel has made some very good suggestions.



By David Sobel

RISMEDIA, Jan. 17, 2008-You’ve all had that experience with a client where you drive up to a house and they don’t even want to go inside. It’s an immediate “un-appeal.” You may know the inside of the house shows much better, but you just can’t convince them to spend the time to even go inside. In today’s market where lots of choices in housing are available to the buyer, why should they?
Here are some easy, inexpensive fixes that will help create that outside appeal and get you one, giant step further to a sale.

1. Paint or stain the front and garage doors, especially if they show any weathering. These are the first visuals where a potential buyer focuses. If garage doors are metal and dented, they may need to be replaced.

2. Any old, basically abandoned sheds or small structures, must be removed, the area graded and the grass replaced.

3. Change any dated, outside light fixtures.

4. Fix that driveway. If it is blacktop, make sure cracks and crumbling areas are dug out and filled and then the whole driveway sealed. If it is cement, have large cracks filled and repaired professionally. The buyer must at least feel they can drive the moving truck in confidently!

5. Make sure landscaping bricks are in their proper placement. Mowing, weed-whipping sometimes moves them and this is something the homeowner rarely notices, but makes the property look unsightly.

6. Fill in bare dirt under large shade trees. Plant shade-tolerant plants in defined planters or groundcover. Landscape properly for that area.

7. All landscaping beds should be cleaned out and updated for the time of year it is in your region. Place new bedding material down.

8. Have trees and bushes pruned and trimmed. If a bush or tree is looking old or about to expire, remove it and replace it with a similar size and type if you can. If there is a tree limb(s) over the roof, have them removed.

9. If the house needs painting and a full paint job is not in the cards; have it touched up professionally in the worst, most visible spots. Paint shutters and fix them if they are hanging crooked. At least this may help get your client in the front door, even if they negotiate a full paint job into the sale later.

10. If the house is sided, have it power-washed and have gutters and windows cleaned. Window cleaning inside and out makes the house feel updated and fresh, rather than old and dingy.

11. Make sure grass is in good shape, weeds are removed, trimming done regularly. So many sellers fall down on this job the minute the house is listed, and this is critical to selling a house quickly, especially one where the owners have already moved out. In snowy climates, removal must be done regularly too. If owners have moved out, make sure you have an HWA Home Warranty to re-assure buyers.

12. Keep garbage and recycle containers inside the garage, along with all toys and equipment. Make sure the garage is neat and organized. Painted walls and floors also go a long way in this area and are inexpensive to do.

13. Decks should be washed and repainted or re-sealed; plantings around them cleaned, weed-free and looking good. Patio furniture should be in excellent condition. Even though it is in the backyard, this is the area where the family can envision enjoying the warm days and the new yard.

14. If the roof has missing shingles and they can be replaced inexpensively, suggest this be done as it may save negotiation over a completely new roof. Roof repair needs and costs should be minor or the homeowner might as well replace the entire roof.

15. If the homeowner wants to do a bit more, suggest solar lights lining the driveway or installing a more attractive front door with lead glass inserts and replacing plain doorknobs with something more custom.

16. If you have an evening showing, make sure lights are on outside and inside the house. This is warm and inviting.

17. If it’s a holiday season, by all means decorate the home! Just like sugar cookies or vanilla scent on the inside of the house, this really says “it’s a home” and I can see myself enjoying life here! In the least, always have some greenery or flowers for the season on the front step or porch; even a birdbath with a little garden around it says home.
Remember, most home buyers cannot visualize even these simple changes and clean ups in a house and the ones who can, will be looking for a reduced price. So to sell the house at top dollar and quickly, make it “appeal” to the many who will be seeing it rather than the few who are looking for a “fixer upper.” These people know what they want, go after it and need less assistance.
Finally, have neighbors or friends look at the finished results to see if you or the home owner has missed anything key that would be quick and easy to do. Use this article in your listing presentations so they can get started right away on these easy, inexpensive fixes and adapt the ideas to their home. When that home looks fabulous, update that picture on the Internet! This is especially important if the season has changed too and it’s a reward to your client too!

Labels: real estate agent Orangeburg SC

In the past eight weeks, the average rate on a 30-year fixed has been as low as 6.19 percent and as high as 6.29 percent. Rates rarely remain in such a narrow range for two months. They have been static because economic news has been pulling equally in two directions. The low unemployment rate and bigger paychecks tend to push interest rates higher, while the faltering real estate market and slowing productivity tend to pull rates lower.

Labels: homes in Orangeburg SC

Four Bedrooms and More
Benjamin Boulevard Orangeburg, SC 29118
Price: $216,900

Status: New Listing Bedrooms: 4 Baths: 3 Year Built: 1975 Square Feet: 2882 Lot Size: .78 Garage: 3+ Seller Paid Home Warranty: American Home Shield Amenities:: Walk-in attic Subdivision:: Creekmoor-North side Orangeburg
Features:
Fireplace, Main Floor Bathroom, Central Air, Main Floor Bedroom, Den/Office, Dining Room, Family Room, Laundry Room
Beautiful Four bedroom brick home with fireplace and two car garage attached and two nice out buildings; fenced rear yard, patio and many other wonderful features. Master bedroom and two others downstairs plus a dedicated office (could be a fifth bedroom/nursery). There is a bedroom with private bath upstairs (second master) with a super-sized sitting area/den. Walk-in attic space.







John KneeceERA Wilder Realty Inc.Phone: 803-378-5208OFFICE (8 AM - 5 PM):
803-378-5208
info@johnkneece.comwww.johnkneece.com

Equal Housing OpportunityAll information provided is deemed reliable but is not guaranteed and should be independently verified.

Orangeburg South Carolina

Younger Generations Buying More Houses

Americans earning at least $75,000 per year are buying more houses than their parents did at a comparable age, with each generation outpacing the previous generation's home purchase trends, according to the Coldwell Banker 2006 Homeownership in America Study.

The study's data shows that 66% of survey respondents in the Silent Generation (age 61 and up) have owned between two and five homes. Already, 66% of Baby Boomers (age 42 to 60) have owned a similar two to five homes. The younger generations surveyed are mimicking these homebuying habits. About half (48%) of Generation Xers (age 32 to 41), and more than one-third (36%) of Echo Boomers (age 31 and younger) have owned between two and five homes. Approximately 58% of respondents have owned more homes than their parents did when their parents were at a comparable age.

"These findings suggest that this trend will continue as the younger, upper income generations age," says Jim Gillespie, president and chief executive officer of Coldwell Banker Real Estate Corp.

"Baby Boomers have already equaled the homeownership pace of those 61 and older, and they remain in their prime homebuying years. The fact that Generation X and Echo Boomers are indicating that they have owned multiple homes already shows that they understand the value of buying and owning real estate."

The study also points out that homebuyers do not appear to be collecting houses as a means to expand their financial portfolios by constantly moving to bigger and more expensive houses. Instead, they move according to lifestyle needs.

If you are younger and smarter... and have a wish for good climate and friendly people

CALL John Kneece today 866-419-7539 (toll free)

info@JohnKneece.com (also a free function)
www.BuyerHelper.com
www.ERAorangeburgSC.com
www.OrangeburgHomes.com

1995 Saint Matthews Road
Orangeburg, SC 29118

ERA WILDER REALTY, INC.
We have agents in both North Carolina and South Carolina to serve your needs in housing. Call me today to be properly directed to the nearest office and the most expert agent in that office.

Life can be a little easier.

Save time and irritation. Work with a REALTOR e-PRO® Certified real estate professional who provides both buyers and sellers with high quality, timely information using the resources of the Internet.
REALTOR e-PRO® Internet Professionals maximize your ability to leverage the enormous power of the Internet when you are buying and selling property.

John Kneece
ERA Wilder Realty, Inc.
1995 Saint Matthews Road
Orangeburg, SC 29118

info@JohnKneece.com
TOLL FREE 866-419-7539
(local) 803-378-5208

Sixteen plus years serving the needs of buyers and sellers in the market in and around Orangeburg, SC in amazing ways! Call John today!

Daily Real Estate News December 11, 2006

Existing-Home Sales to Trend Upward in 2007

Existing-home sales are expected to rise gradually in 2007 from current levels, with annual totals slightly lower than 2006, while new-home sales will continue to slide, according to the latest forecast by the NATIONAL ASSOCIATION OF REALTORS®. David Lereah, NAR’s chief economist, says market conditions will vary around the country next year.“Roughly three-quarters of the country will experience a sluggish expansion in 2007, while other areas should continue to contract for at least part of the year,” he says. “Most of the correction in home prices is behind us, but general gains in value next year will be modest by historical standards.

"For Buyers, a Window of Opportunity" Buyers, especially first-time buyers, with the combined benefits of seller flexibility and an unexpected drop in mortgage interest rates, have a window of opportunity,” he adds. “These conditions will persist in many areas until early spring when inventory supplies are likely to become more balanced.” Existing-home sales for 2006, finishing the third-best year on record, are projected at 6.47 million, a decline of 8.6 percent from 2005. For 2007, sales expected to rise steadily to an annual total of 6.40 million, which would be 1 percent lower than this year’s total. “By the fourth quarter of 2007, existing-home sales will be 4.6 percent higher than the current quarter,” Lereah says.

Much can be said for the opportunities which come and go in the buying and selling of real estate- most agents can talk about how they will help you- click on this link to see how this is done on a routine basis.

http://johnkneece.com/custom3.shtml

John Kneece
ERA Wilder Realty
1995 Saint Matthews Road
Orangeburg, SC 29118
(toll Free) 866-419-7539
(local) 378-5208

EMAIL: mailto:info@johnkneece.com

The seller of this wonderful country home is willing to help you with the financing- you put down 6% ( around $6000) and he will allow you to make payments directly to him for three years... those would run under $700 per month- it would be your house without all the wasted money on closing costs and other fees which actually you never get back if and when you ever sell your home!!

After three years (assuming you have made 36 timely payments) your credit history should be good enough to qualify for bank financing- perhaps things improve faster than that--it is your call.

For details on how this works call JOHN KNEECE at (toll free) 866-419-7539 and get the whole story! Visit http://JohnKneece.com to see more photos of this fine home which by the way also has 2.7 acres with it and another 2.7 aceres could be added into the deal- again...it's your call!

RISMEDIA, October 2, 2006—The Center for Responsible Lending commends federal regulators who said recently they would start requiring lenders to consider whether a borrower can repay when they make certain kinds of home loans. But the regulators missed the boat in helping all the consumers at risk from mortgages that could blow up on them. Lenders have sold billions of dollars of complicated, difficult-to- understand adjustable-rate option mortgages to homebuyers in the last few years without regard to their ability to repay. As the banks pushed more people into buying houses they couldn't afford, the housing market boomed and lenders prospered. Now, as interest rates rise and the borrower's monthly house payments go up accordingly, many buyers are left high and dry, facing foreclosure; and the housing market is endangered, raising the possibility of a recession. "Federal financial regulators took a step toward making the mortgage market safer for borrowers today," said Michael D. Calhoun, president of the Center for Responsible Lending, "although there is much more to do." The Office of the Comptroller of the Currency, the nation's main federal bank regulator; the Board of Governors of the Federal Reserve System; the Federal Deposit Insurance Corporation, the Office of Thrift Supervision, the Treasury Department and the National Credit Union Administration said Friday that lenders must tighten the standards for making loans that negatively amortize -- that is, when the borrower's monthly payment is lower than the interest due, and the loan balance increases rather than decreases with every payment. But regulators should expand their scrutiny to a much broader piece of the mortgage market -- the more conventional sub-prime adjustable-rate mortgages, or ARMs, whose monthly payments can also sharply rise. They are known as "exploding ARMs," and like the negatively amortizing loans, lenders have pushed them on borrowers by flourishing low, introductory "teaser" rates that will sharply rise. The Center for Responsible Lending, a nonprofit research and advocacy group that fights predatory lenders, finds several more places in the regulatory guidance, as it's called, where the regulators fell short in protecting consumers today. It does not apply to state-regulated mortgage companies that make loans but don't take deposits. The regulators said they would work with regulators of these companies to set the same standards. It is important they do: Almost 60 percent of the loans in the sub-prime market, where people of modest means and with weaker credit ratings borrow, are not subject to scrutiny by the federal regulators issuing these guidelines today. The regulators also say lenders must consider incentives for loan officers to make the best kind of loan to a borrower and not push only option adjustable-rate-mortgages simply because they are often more profitable for the lender. The Center for Responsible Lending urges regulators and banks to do more about this problem. Finally, the center calls on lenders and the Wall Street firms that buy these loans to work with borrowers trapped in loans with payments they can't afford. The industry pushed these loans; now it has a duty to help borrowers avoid losing their homes. "The lenders, the regulators, the consumer groups and consumers themselves must all do more to make sure these mortgages are bought and sold wisely and fairly," said Mr. Calhoun.

Click on this link to get the rainfall amount for last year, the high and low temperature daily for last year, and the snowfall.. Folks who live here will laugh at the word 'snowfall' with regards to Orangeburg, Bamberg, and Calhoun Counties.


LAST YEAR'S WEATHER ORANGEBURG SC

Thanks for your interest in Orangeburg SC- To learn more of Orangeburg SC and points beyond click on this link:

Good Stuff to know about Orangeburg SC

TO contact John Kneece

803-378-5208

info@johnkneece.com

ERA WILDER REALTY INC
1995 St. Matthews Road
Orangeburg, SC 29118

READY OR NOT...

Emergencies are never planned, but can happen in a heartbeat. Ever had a blackout at your home...and as you waited for the power to come back on, started to wonder what would happen if the minutes turned into hours or days? Would you and your family be prepared? The Department of Homeland Security (DHS) wants to make sure you are, and has identified September as National Preparedness Month. An emergency situation could be an earthquake, hurricane, potential terrorist threat, or even just that blackout.

Hopefully you will never be faced with an emergency situation of your own, but if you are, having an emergency kit will help ensure that you and your loved ones will have the bare necessities such as food, water, and items to keep you warm. And determining all the right items for each member of your family, pets, and those with special needs could normally be a very grueling process. But the DHS has made this process very simple.

To help you get started preparing your emergency kit, The Department of Homeland Security has developed a user friendly website that allows you to download and print all of the items that you will need to gather. Just hit this link: DHS Emergency Kit, and you can get a quick list of the basics, such as water, food, radio, flashlight and batteries - including a printable list of the quantities and types that should be purchased, based on your families needs. There's also valuable information on "Unique Family Needs" which includes items for infants, pets, and those with special needs.

So take a few minutes to visit the site, and forward this article on to your friends, family members, and colleagues...or better yet, prepare a starter kit for them as a gift. When the power snaps off unexpectedly...or worse...don't be caught unprepared.

What if having a parent move in with you creates quarters that are too close for comfort...and you are forced to sell your home?

Well, the IRS wants to help - and may even provide a tax break for taking an ailing parent into your home. Let's take a closer look. Under normal circumstances, if you sell your home prior to living in the property for two full years, you are normally subject to pay capital gains on the profit made. There is an exclusion that allows for $500,000 of tax free gain if you are married or half that if you are single - but you must have lived in the home for two of the past five years.

However, according to the IRS, if you take an ailing parent into your home and therefore are forced to sell, you can still get a pro rated tax break, even if you have not been in the home for the full two years.

New scoring tools empower credit weaklings
By Amy Buttell Crane


If you've been rejected for a mortgage or other loan because of a bad FICO score, don't despair. New forms of credit scoring use your payment record on utility bills, rental units and payday loans to assess your ability to repay loans.
An estimated 50 million consumers are locked out of access to credit because they lack the credit history needed to generate a decent FICO score. The FICO score estimates your ability to repay based on your past credit history as detailed in traditional credit reports.
Fair Isaac Corp., the company that pioneered this form of credit scoring, produces the FICO score and is offering one of the new credit scores, which it calls the FICO Expansion score. Along with other players in this rapidly expanding market, Fair Isaac hopes to attract lenders eager to expand their customer base.
"One of the problems for people who don't have good FICO scores is the collection of enough positive data to make the score an effective predictive tool," says Tena Friery, research director of the Privacy Rights Clearinghouse, a California-based consumer advocacy group. "Estimates are that 50 million consumers are affected by a lack of credit history, so this score has the potential to give people the chance to own a home who otherwise wouldn't be able to get into the market."
The various scoresBecause of Fair Isaac's status as the 800-pound gorilla in the credit scoring market, the FICO Expansion score has a built-in advantage over the other types of scores. Here's a breakdown of the different types of scores.
Types of scores

•
FICO expansion score
•
PRBC
•
Anthem score
•
eFunds
FICO Expansion score. Drawing on alternative credit data such as bank account records, payday loan payment records and installment purchase plans, Fair Isaac produces a credit score that is modeled on the traditional FICO score's 300-to-850 point range. "In developing the Expansion score, Fair Isaac analyzed anonymous alternative credit data to statistically determine what factors are most predictive of future credit performance," said Lisa Nelson, vice president of business operations for Fair Isaac in an appearance before the House Financial Services Committee in May 2006. "Factors that do not have predictive value and factors that by law cannot be used in the credit decision are excluded from consideration."
PRBC. PRBC, which stands for Payment Reporting Builds Credit, turns the traditional credit scoring model on its head, offering consumers the chance to proactively build a credit profile through tracking their payment history in such areas as rent, private mortgages, phone, utility, insurance premiums and child support payments. Consumers can sign up through AccountNow, a partner with PRBC, and arrange to have their bills paid through this service. All payments will automatically be forwarded to PRBC and be included in your credit profile. There are fees involved to enroll in the AccountNow Vantage MasterCard program, which is part of the AccountNow service.
Anthem score. Developed by First American CREDCO, which processes and distributes credit information on consumers, the Anthem score is similar to the FICO Expansion score. The Anthem score is a two-tiered score: The first score comes from First American's nontraditional credit report; the second is a numerical risk assessment score. Scoring is based on a consumer's history of paying rent, utilities, insurance and child support expenses. In building the risk score, Anthem takes into account how long a consumer has been paying bills in a timely fashion as well as what types of credit the consumer is using.
eFunds. EFunds is the parent company of the ChexSystem banking clearing house. The eFunds Debit Report provides lenders with an overview of a consumer's check-writing history, check order history, account-opening inquiries, deposit account collections and any accounts closed for fraud or abuse.
The positivesThese new forms of credit scoring are a wedge into the traditional credit market that many consumers can use to prove to lenders that they are a good credit risk. "There are many people who may be creditworthy but who don't get credit because of the limits of the traditional FICO score," says Bruce McClary of Clearpoint, a consumer credit counseling agency. "For example, many Hispanic immigrants use cash rather than credit. They save, which is very admirable, but they aren't establishing any type of credit history."
Many other consumers may be able to access credit through nontraditional scoring methods. These include recent high school or college graduates, divorcees or widows and people with some blemishes on their traditional credit report.
"These scores open up a whole new world of opportunity for people who have chosen not to access credit or who have had issues with credit," says Cate Williams, vice president for financial literacy for Money Management International, a consumer credit counseling agency.
The negativesWhile many consumers who haven't had access to credit may applaud these new scores, other consumers may rue the day that a lender relied on one of these scores if that credit isn't used wisely.
"There are problems that could arise with any system. There is always the potential for abuse where you could have predatory lenders using these scores to reach people who they would otherwise not be able to get to," says McClary.
Williams warns consumers not to be tempted into taking on more credit than they can handle. "If you get a credit card as a result of these new scoring models, ask yourself what do you need that card for," she says. "Nine out of 10 people will say it is only for emergencies, but a shoe sale or dinner out is not an emergency. Also find out what costs are involved in any loan or credit card."
As with traditional credit reports and the traditional FICO score, the newer scores are only as good as the data they are built on. Just as there can be mistakes in your credit report, inaccurate information obtained on your nontraditional payments can negatively impact your ability to get loans. "Fair Isaac is becoming a specialized consumer-reporting agency so the Expansion score will be a dispute-resolution process where you can fix problems with this score," says Friery.
Since PRBC is consumer-driven, consumers will have free access to their data once they are enrolled in this program. At this time, it's not clear what access consumers will have to eFunds Debit Reports or Anthem scores since they are so new.

Personal income growth in S.C. metros surpassed national average in 2005

By Dan McCue , Staff Writer

Personal income growth in South Carolina’s three major metropolitan areas surpassed the national average in 2005, and grew far faster than the nation’s inflation rate, according to the U.S. Bureau of Economic Analysis.

Between 2004 and 2005, personal income in the combined Charleston/North Charleston metropolitan statistical area grew 6.8%, while personal income in Columbia grew 5.3% and in Greenville 5.2%.

On average across the nation, personal income grew by 5% in 2005, down from a 6% growth rate in 2004. Three-fourths of the metropolitan areas included in the survey saw a slowdown in personal income growth during the survey period, according to the BEA.
Despite the slowdown, 2005 per capita income grew faster than inflation—2.9% as measured by the national price index for personal consumption expenditure—in nearly three-quarters of the metropolitan areas measured.

BEA analysts attributed much of the overall slowdown in income growth to the after affects of Hurricanes Katrina and Rita, which sharply reduced income growth along the Gulf Coast.

However, some communities actually benefited from the disaster with personal income increasing in Alexandria, La., and Beaumont-Port Arthur, Texas.

Elsewhere, strong per capita personal income growth was associated with growth in the military sector while weak growth was associated with the motor vehicles and parts industry.

Five metropolitan areas with an economic base dominated by the military—Hinesville-Fort Stewart, Ga; Jacksonville, Fla.; Fayetteville, N.C.; Clarksville, Tenn.; and Killeen-Temple-Fort Hood, Texas—were among the 10 fastest growing metropolitan areas in 2005.

Five metropolitan areas— Kankakee-Bradley, Ill.; Monroe, Mich.; Kokomo, Ind.; Champaign-Urbana, Ill.; and Flint, Mich.—in the Great Lakes region, where the auto industry is slumping, were among the 10 slowest growing metropolitan areas.

Mortgage insurance tries to shake piggybacks
By Holden Lewis

(Thanks Mr. Lewis- my web prospects appreciate my providing them with your articles- they cannot find them on their own most of the time)


You can get lower monthly payments in some cases by getting a home loan with mortgage insurance rather than a piggyback loan. Don't assume that your loan officer or mortgage broker knows this.

"Our message to consumers is look at all the options," says Sal Miosi, vice president of marketing for mortgage insurer MGIC. "In many cases, it's a more compelling offer."
Mortgage insurance has become competitive with piggyback loans because of two developments. First, short-term interest rates rose during the Federal Reserve's two-year rate-hike campaign. That raised rates on the home equity loans and lines of credit that piggyback mortgages use. Second, mortgage insurance companies started pushing single-premium policies that could be financed as part of the loan.

The smaller your down payment on a house, the more likely you are to default on the mortgage and, thereby, cost the lender money and strife. The loan is considered quite risky if the down payment is less than 20 percent. One solution is mortgage insurance.

You pay, lender benefits

The borrower pays for mortgage insurance, but the lender is the beneficiary. Mortgage insurance reimburses the holder of the loan for foreclosure-related expenses such as missed payments, attorney fees and house repairs. The government offers mortgage insurance through the Department of Veterans Affairs and the Federal Housing Administration, and private companies provide the bulk of policies. This article addresses private mortgage insurance.

The cost of mortgage insurance varies depending on the size of the down payment and the borrower's credit history. It can be expensive, so the mortgage industry devised a way around it: piggyback loans. With a piggyback, the borrower splits the home loan in two: a primary mortgage for 80 percent, and then a home equity loan or credit line for 20 percent minus the down payment. Structuring a loan this way eliminates the requirement for mortgage insurance.
Piggybacks are described with three numbers that add up to 100. Each number is a percentage, starting with the primary mortgage, followed by the size of the equity loan and ending with the size of the down payment. If you made a 5 percent down payment, you would get a mortgage for 80 percent of the price, borrow 15 percent as an equity loan or credit line and pay 5 percent cash. That would be called an 80-15-5 piggyback.

Two or three years ago, when you could get a home equity line of credit at 4 percent or 5 percent, piggybacks were almost always cheaper. But now the average line of credit sports a rate north of 8 percent, and the average home equity loan is a shade under 8 percent. And rates on credit lines and equity loans usually run a little higher on piggybacks.

Bottom line: Piggyback loans have higher monthly payments than they used to have, while mortgage insurance costs the same.

John Kneece info@JohnKneece.com

www.OrangeburgHomes.com

803-378-5208

Toll Free to you: 1-866-419-7539

(John Kneece is licensed under ERA WILDER REALTY, INC.)

With TWO major Universities within the five mail radius of Orangeburg (metro)---- THIS IS IT for next year >>>>>>>


Echo boomers, children born between 1982 and 1995 to baby boomers, are about 80 million strong

RISMEDIA, August 24, 2006—“The student housing market is a good niche opportunity today,” said Kenneth T. Rosen, chairman of the Rosen Consulting Group, a real estate and economics research company in California. “The demographics are excellent, and the demand is great.”
Echo boomers, children born between 1982 and 1995 to baby boomers, are about 80 million strong. College enrollments have been on the rise while the supply of on-campus housing is dwindling.

Student housing projects are often leased by the bed, with parents increasingly guaranteeing the leases. The student housing market, which is estimated at $160 billion, has proven profitable for many investors. Capitalization rates can often exceed those on conventional multifamily projects.

Typical investors are independent companies and regional investment groups. Some tenants-in-common programs (TICs), offering fractional ownership of properties, also invest in student housing. Recently, three real estate investment trusts specializing in student housing have emerged — GMH Communities Trust, American Campus Communities and Education Realty Trust — making the sector more accessible to passive investors with less money to invest.
Through July of this year, American Campus Communities had a total return (price appreciation and dividend) of 10.07% while Education Realty returned 28.76%, according to the National Association of Real Estate Investment Trusts. By comparison, the total return for all equity REITs during that period was 16.12%, the association said.

Typically, student housing occupancy is near 100%. “The success of these investments is tied to college enrollment, not to external economic factors like job creation,” Michael H. Zaransky of Prime Property Investors and author, said. “In fact, one can argue that in bad economic times, people will want to pursue better credentials and go back to school.”

If you have money you would like to see making a brighter future for you--- call John Kneece at 803-378-5208 and discover how investing in student rentals can be your ticket to the biggest and most lucretive show in town!!

Own a home, grab the tax breaks
By Leonard Wiener
Posted 8/15/06
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The housing market may swell and ebb. But Uncle Sam keeps giving.

When President Bush last month decided it was time to address the NAACP, one message that won applause was endorsement of the American real-estate ideal.
"Owning a home gives people a stake in their neighborhood, a stake in the future," he declared.
The tax code backs up reverence for owning your abode with tax deductions for mortgage interest and property tax that in effect reduce your monthly bill. And some or all of your profit when you sell may face no tax at all.
An analysis released in late June by economist Robert Dietz of the National Association of Home Builders calculated that about 35 million households claimed $338 billion in mortgage deductions on 2003 returns, an average of $9,650. About 39 million deducted $119 billion in real-estate tax, an average of $3,000.
California led the nation in mortgage deductions with a statewide average of about $14,000 and a whopping $35,000 in the San Jose area.
High home prices and stiff real-estate taxes pushed New Jersey to the top spot in property-tax deductions, with an average of $6,000.
The builders played a political card in breaking out by congressional district the extensive use of the deductions. Some economists and tax reformers say the incentives encourage buying bigger homes than needed and boost prices by turning homes into a tax strategy. But howls from homeowners and real-estate groups restrain any moves to curb the breaks.
Losers? The five congressional districts making least use of the mortgage deduction were all in the New York City area, where renters loom large, highlighting the left-out feeling many non-owners sense.
"Deductions for home interest and property tax are often what allow first-time buyers to make a transition from taking the standard deduction to itemizing deductions," says Maggie Doedtman, a senior manager at H&R Block.
Melonie Loeb, a 30-year-old single mother in Overland Park, Kan., and fellow Block employee, took on a three-bedroom ranch in 2004, allowing her to deduct $16,141 in itemized deductions on her 2005 return. That eclipsed the $7,300 head-of-household standard deduction she would have taken as a renter.
Loeb is relieved that her 5-year-old daughter "can be loud without disturbing the neighbors." But she has also bought into the game plan of building equity. "The money I spent in rent went nowhere," she says.
Even revered breaks, however, have limits.
IRS Publication 530 provides a tax overview for first-time owners. Publication 523 covers selling a home. Publication 936 explains mortgage and home-equity deductions.

Experience:

My early background was in production management- a problem solver no doubt- I have lived in this market since 1975 and have worked with over 800 buyers and sellers since 1990.
Specializing: Relocation, Second Homes, and First-time home buyers

Help for buyers relocating to Orangeburg, Calhoun, or Bamberg Counties.

Financial expertise is invaluable when entering a different marketplace. John Kneece has spent many hours in seminars learning to assure that you get what you deserve without the hassle you could experience in the absence of good training and professional application of skills. (Mortgage Broker fees do not have to be part of your expenses in home buying)


John Kneece
ERA Wilder Realty, Inc.
1995 St. Matthews Road
Orangeburg, SC 29118

info@JohnKneece.com

WEB: www.OrangeburgHomes.com

CALL ME: locally (378-5208)

TOLL FREE: 1-866-419-7539

I have agents in all parts of Columbia, Rock Hill, Charlotte, Lake Norman, Lake Marion/Santee, SC, Sumter, and Lexington-

Do not throw darts at a board to choose an agent- allow me to put you in touch with one of our 400+ EXPERT RESIDENTIAL AGENTS... ERA-- that's what we do!!

Here is a quote published by RESMEDIA recently- The relevance of this comment lies in the part that says. “…especially in moderately priced areas where affordability conditions remain favorable….” This is ORANGEBURG COUNTY for certain!

"On one hand is the rise in mortgage interest rates that has slowed sales in many higher-cost markets, and on the other is 3.8 million new jobs over the last two years," Lereah said. "This means many potential home buyers could enter the market in the foreseeable future, especially in moderately priced areas where affordability conditions remain favorable. In fact, this is already occurring."

John Kneece the owner and developer of the localized website, www.OrangeburgHomes.com, has enjoyed helping folks who are drawn into this void- good prices and great employment. Visit the site to see over 800 homes and properties for sale in the area. Relocation is king with John Kneece and Orangeburg Homes dot Com. John Kneece is a 16 year veteran in the real estate services area and has functioned in the Orangeburg-Bamberg-Calhoun County market continuously for that time. John is currently associated with the multi-State real estate company, ERA Wilder Realty, Inc. Having direct access to agents in 17 different market all whom adhere to the same rules, ethics, and systems make John Kneece and Orangeburg Homes dot Com even more effective when families need information and help in areas of North Carolina and South Carolina which John does not personally service.

803-378-5208
mailto:info@JohnKneece.com

FHA wants to insure zero-down mortgages
By Holden Lewis (An expert I rely upon)

Zero-down home loans have gone so mainstream that the federal government wants to get into the act.

Borrowers would be able to take out no-money-down mortgages insured by the Federal Housing Administration under a proposal by the housing department. Right now, FHA-insured loans are limited to a maximum of 97 percent of the home's price, meaning that homeowners have to come up with a 3 percent down payment.

FHA-insured, zero-down loans won't be available until October at the earliest, because the proposal will be included in the Department of Housing and Urban Development's fiscal 2005 budget proposal. The fiscal year begins Oct. 1. Allowing zero-down, FHA-insured mortgages would require congressional approval.

Under the proposal, home buyers not only would be able to get FHA-insured loans with no money down, but they could roll some closing costs into the loan. The maximum loan size, then, would be 103 percent of the home's price.
Help for first-time buyersThe proposed change would remove the biggest obstacle facing first-time home buyers, says John Weicher, the federal housing commissioner. "This initiative would not only address a major hurdle to homeownership and allow many renters to afford their own home, it would help these families build wealth and become true stakeholders in their communities," Weicher says.

The Bush administration has a goal to create 5.5 million new minority homeowners by 2010. The FHA estimates that the zero-down option would generate 150,000 new homeowners in the first year.

Not many years ago, zero-down loans for consumers were rare. Later, they were a fringe product. They are riskier for lenders because zero-down borrowers are deemed more likely to default, and when they do default, the lender is more likely to lose money. But as mainstream mortgage lenders have found that they can make money by lending to shaky borrowers at high rates, zero-down loans have become widely available. Now, under HUD's proposal, lenders would be able to offer zero-down loans and let the FHA insurance pool assume the risk. The insurance pool is funded by borrowers, not by taxpayers.

How they would workFHA borrowers would pay more, both upfront and monthly, for the privilege of not making a down payment. Today, if a home buyer makes a 3 percent down payment and gets an FHA-insured mortgage, the buyer pays an upfront mortgage insurance premium of 1.5 percent at closing, and half a percentage point is tacked onto the interest rate. Under the proposal, a riskier zero-down loan would incur a mortgage insurance premium of 2.25 percent at closing, and three-quarters of a percentage point would be added to the interest rate for the first five years of the loan. After five years, the interest rate would be reduced by one-quarter point.

It would mean slightly higher payments for zero-down borrowers. Consider the case of Jack, who puts 3 percent down and borrows $100,000, and Jill, who gets a zero-down loan for $100,000. Both get their loans when mortgage rates average 6 percent for people with good credit who put 20 percent down.

Jack would pay a $1,500 insurance premium as part of his closing costs. He would pay 6.5 percent interest, for monthly payments (principal and interest) of $632.07. Jill would pay a $2,250 insurance premium as part of closing costs (or $750 more than Jack) and would pay 6.75 percent interest, for monthly payments of $648.60 ($16 more than Jack's monthly payment). After five years, her monthly principal and interest would drop to $632.07, the same as Jack pays.Jill could add the upfront mortgage insurance premium to the loan amount, borrowing $102,250; that would raise her initial monthly principal and interest payments to $663.19, or $31 more than Jack's monthly payment.

Potential effect on private lendersBy offering zero-down loans, the FHA would be stepping onto the turf of the down-payment assistance industry, with unpredictable results. The down-payment assistance industry consists of nonprofit corporations that allow home buyers to leap through a loophole and circumvent the FHA's requirement to make a 3 percent down payment. The loophole can be found in a rule that lets FHA borrowers receive gifts of money with which to make down payments or pay closing costs.

Gift money can come from relatives, employers and nonprofit organizations. It can't come directly from sellers. But sellers can contribute money to nonprofits that then pass along the money in the form of gifts to home buyers. A thriving network of nonprofits -- among them Ameridream and Nehemiah Corp. of America -- takes advantage of this loophole and allows home buyers to get FHA mortgages with no out-of-pocket money down.

HUD jumps through the loophole

HUD tried to close the loophole a few years ago but backed off. Now it appears that the federal government has gone full circle. "It's a pure vindication of Nehemiah's pioneering down-payment assistance," says Scott Syphax, president of Nehemiah.
"Understand that when we first started, the work that we do was seen as being completely outside the mainstream," Syphax adds. "Government's adoption of the Nehemiah approach to homeownership is the purest evidence that our position not only has been vindicated, but also embraced."

He calls the FHA proposal "a very important step in democratizing the access to homeownership in this country" and that Nehemiah supports the proposal, "and, however, is going to be very watchful on making sure that the details are not onerous to the families that the program is intended to serve."

By Dennis Quick
SC World Trader

ECKA Granules of America, a German company that manufactures pure metallic powders used in everything from paints to automobile parts, two months ago arrived in Orangeburg County/City Industrial Park. The company invested about $12 million in a 67,000-square-foot facility, which over the next five years will employ 40 workers. Wages will be $10 to $12 an hour.

ECKA checked out a few other states, including North Carolina and Texas, before choosing South Carolina as the site for its first production center in North America.
“South Carolina has a strong connection with German companies,” notes Dean Swift, project manager for ECKA Granules of America.
Indeed, the Palmetto State boasts a roster of more than 140 German companies, including heavy-hitters like BMW and Robert Bosch Corp.

By choosing to set up shop in Orangeburg County, ECKA enjoys not only nearness to the port of Charleston, a logistical must-have that scored key points with ECKA, but a certain comfort knowing a host of other foreign companies call Orangeburg County home.
Orangeburg County, population 92,167, could be considered the nation’s international business capital for geographic areas its size.
“Per capita, Orangeburg County has close to the largest amount of foreign investment in the nation,” claims Gregg Robinson, executive director of the Orangeburg County Development Commission.

National real estate network makes listings more 'discoverable' and 'searchable' online with Google Base

RISMEDIA, August 4, 2006—

ERA Real Estate has announced that it has begun providing all of its residential property listings nationwide to Google Base, a service that enables content providers to submit information to Google to improve the quality and breadth of Google's online search results. By providing its listings to Google Base, ERA Real Estate helps make its home sellers' listings more searchable online. Google Base offers content providers such as ERA Real Estate the ability to provide property-specific attributes therefore increasing the chance that an ERA(R) listing will appear in the results of relevant queries. Based on the relevance match, a listing may also appear in search results on Google, Froogle and Google Maps. "A large majority of today's real estate consumers are starting their home search online, but they are getting to this information in a number of different ways," said Brenda W. Casserly, president and CEO for ERA Real Estate. "By working with the Internet search leader, Google, we have created another important online marketing venue that, in addition to our brand Web site, will generate exposure for our affiliates and their listings." Online home shoppers can now find the ERA listing information on Google that precisely matches their home search needs and preferences. From their search results, they can then link to ERA.com to access additional property information, contact a sales associate or utilize other real estate related resources on the Web site. "As a company founded on technology, ERA Real Estate is committed to utilizing the Internet to provide the best service possible to both our affiliates and the homebuyers and sellers they serve," said Casserly. "Working with Google is just the latest example of our ongoing effort to maximize the power of the Internet to help our affiliate brokers and sales professionals best market their clients' properties." ERA Franchise Systems, Inc. is a subsidiary of Realogy Corporation, the world's largest real estate franchisor (NYSE: H). ERA(R) information is available to consumers at ERA.com.

JOHN KNEECE ERA Wilder Realty1995 Saint Matthews Road Orangeburg, SC 29118www.OrangeburgHomes.com

(I have agents in Columbia, NE Columbia, Irmo, Lexington, Chapin, Sumter, Lake Norman, Charlotte, Manning, and Santee)

mailto:info@JohnKneece.com 803-378-52081-866-419-7539 (Toll Free)

Orangeburg, SC (29115) Demographics

General
Pop. of 29115
33,141
Pop. living in urban areas
0
Pop. living in suburban areas
22,689
Pop. living in farm areas
285
Pop. living in non-farm areas
10,167
Avg Household Income
$27,382
Per Capita Income
$13,592
Avg House Value
$67,000
Population Breakdown by Age
Ages under 5
2,247
Ages 5 to 9
2,106
Ages 10 to 14
2,320
Ages 15 to 17
1,392
Ages 18 to 19
1,977
Age 20
1,010
Age 21
930
Ages 22 to 24
1,968
Ages 25 to 29
2,211
Ages 30 to 34
1,623
Ages 35 to 39
2,317
Ages 40 to 44
2,149
Ages 45 to 49
1,968
Ages 50 to 54
1,776
Ages 55 to 59
1,322
Ages 60 to 61
458
Ages 62 to 64
800
Ages 65 to 66
464
Ages 67 to 69
626
Ages 70 to 74
1,158
Ages 75 to 79
841
Ages 80 to 84
730
Ages over 85
748
Population Breakdown by Education
Less than 9th grade education
1,993
Between 9th and 12th grade education
4,420
High School education
6,855
Some College education
6,245
Hold an Associates Degree
1,336
Hold Bachelors Degree
2,554
Hold Professional Degree
1,673
29115 County Information
County Name
Orangeburg
State Name
South Carolina
Population
91,582
Number of households
34,118
Persons per household
2.68
Elevation
245
Area
1,106
Average Household Income
$27,611
Average Housing Value
$50,400

The higher interest rates go the less home you can purchase for the same payment:

Information about appraisals and how they affect your deal- buyer or seller


[RISMEDIA]

Learn how an appraisal report is developed. Appraisals are opinions of value. Residential real estate appraisals use a Comparison Method, which compares your home to similar homes that have sold to come up with an opinion of value. A residential appraisal gives summarized and concise information about your house and is not the same as a home inspection. Request a copy of the appraisal.

When you bought your house, you paid for an appraisal. If you didn’t request a copy of the appraisal at the time, go back and request it from your lender now. It is your right under federal law to obtain a copy of the appraisal report. Make sure you get one from your lender. Before you think about selling, review the appraisal report that was created when you bought your house. Look for things in the appraisal report that had a negative adjustment. You may want to look at updating or remodeling those areas. Examples of areas that might have caused a negative adjustment are: having less than the typical number of baths for houses of a similar size; kitchens and baths that are outdated; or a one-car garage or no garage in a neighborhood of two- and three-car garages.

Get your house appraised before you put it on the market. In a market that is fluctuating quickly, you may want to get an appraisal before you put your house on the market. That will help you price it and help ensure that the house will appraise for your asking price. Many sellers are shocked when their house appraises below the asking price and, either their deal falls through, or they have to reduce their asking price.

[Your host, John Kneece, has some comments on this article]

What I have experienced is that agents sometimes fail their clients by not telling them the truth about the value of their homes; it is referred to as BUYING a listing- in other words, whatever list price makes the seller happy enough to list with them is the one they place on it. In such processes sellers generally are happy for about one day- and get less happy every day after that-

The same agent mentality which places your home on the market at your price (regardless of the real 'fair market value') also lacks the ability to take responsibility for the failed efforts to sell.

Markets change- usually not in a 24 hour period- generally, from one to three months. This is a fact which can be identified- also marketing plans should be altered to accommodate market changes. In a rising market it is not uncommon for a home to sell for more than can be demonstrated via the appraisal- since competitive sales are usually those which have occurred within the last 6 months- in some cases the market data has not had time to reflect the market position at the time the home is appraised.

If you have questions about your home in the market in or around Orangeburg, SC- please call or email me at 803-378-5208 or info@JohnKneece.com

Shorter Commutes Mean More Purchasing Power

(July 6, 2006) -- A recent study by the Brookings Institution and the Center for Trans-Oriented Development concluded that for every $10,000 saved in annual transportation costs, a household can afford to spend about $100,000 more on a home.

Housing represents 20 percent of the average household budget, while transportation is 19.4 percent. Last year — before the dawn of $3 per gallon gas — more than half of Minneapolis-St. Paul households spent $10,000 a year in transportation costs.

In cities where urban sprawl means many people have long commutes, builders say buyers shrug off commuting 30 minutes and many will drive up to an hour.

But that could be changing. According to a recent survey of almost 14,000 employees by compensation consultant Salary.com, employees ranked a desirable commute as one of their top three factors for job satisfaction.

The Minneapolis real estate market is responding to commuters’ concerns. The first phase of a 267-unit condominium complex built along the light rail line in Bloomington is 90 percent sold, and another large residential project has been proposed near the 38th Street station in downtown Minneapolis.

Noah Bly, managing principal at UrbanWorks Architecture in Minneapolis, one of the firms working on the 38th Street project, said buyers are placing a desire for more time above other concerns. “Everyone feels harried and stressed out and unable to do all the things they're supposed to be doing.”

Source: Star-Tribune, H.J. Cummins (06/24/06)

RISMEDIA, July 6, 2006—Among the 35 million taxpayers who use the home mortgage deduction, the average amount of mortgage interest deducted among each tax filer is $9,650. For those who deducted real estate taxes, the average is more than $3,000, making these two of the most widely used and important preferences in the federal tax code, according to a new study released by the National Association of Home Builders (NAHB).

Using the most recent IRS data available from 2003, the report provides an in-depth analysis of the local use of the mortgage interest and real estate deductions in each of the 435 congressional districts across America.

It found that every state has at least one congressional district that had a minimum of $259 million of mortgage interest and $43 million of real estate taxes deducted.

“Because the mortgage interest and real estate deductions significantly reduce federal tax liabilities for home owners, they are important tools for promoting homeownership,” said Jerry Howard, executive vice president and CEO of NAHB. “The report shows that millions of working families across the nation use and depend upon these important tax incentives to help them maintain their current standard of living.”

According to the findings, the average congressional district contains roughly 80,000 taxpayers who use the mortgage interest deduction and 88,000 families who deduct real estate taxes, illustrating the widespread use of these important middle-class tax preferences.
On a national basis, 35 million taxpayers utilized the mortgage interest provision in 2003 and deducted a total of $338 billion, or an average of $9,650 per household.

There were 39 million taxpayers in 2003 who deducted an aggregate of $119 billion in real estate taxes, or an average deduction of more than $3,000 per tax filer.

Comparing the tax burden of different states, families with an annual income of $60,000 will pay, per individual:

$1,518 - South Carolina

$2,434 - Georgia

$3,330 - North Carolina

$3,424 - Florida

In a cost of living comparison, South Carolina real estate market prices are consistently ranked 3% to 10% below the national average. Only in Hilton Head do prices exceed the national average by 3.6%.

As for property taxes (which are soon to be radically changed under new state laws), a $200,000 home is taxed as follows:

$1,275 - Camden (lowest in SC)

$3,032 - Newberry (highest in SC)

$2,000 - SC average

Another advantage for SC retirees is that their social security income is not taxable under state law. Social security income is taxable under federal law in all 50 states.
Communities like Aiken have become hot spots for retirees, particularly the half-backs ("half-way" back to the Northeast after moving to Florida) and horse lovers who are tired of the Florida hurricanes.

REALTORS would do well to market what South Carolina has to market retirees - LOWER TAXES and HIGHER QUALITY OF LIFE. The retiree market (presently dominated by the baby-boomers) is a growing niche market that is not impacted by the ups and downs of the stock market, interest rates, or the overall housing market. Retirees have a positive impact on all markets and the SC economy in general. "Sieze the Day!"

Lereah says home sales are settling to a slower pace

RISMEDIA, June 8, 2006—

The housing boom has ended but sales at historically healthy levels will continue, and price appreciation will return to normal patterns across much of the country, according to the National Association of Realtors(R). David Lereah, NAR's chief economist, said home sales are settling into a slower pace.

"In recent years we were occasionally challenged to find appropriate superlatives to describe surprisingly high home sales," he said. "Now the housing market has cooled, but 2006 is still expected to be the third strongest on record. In this case, experiencing a slowing from a hot market is a good thing because we need a solid housing sector to provide an underlying base to the economy, and slower appreciation will help to preserve long-term affordability. But this is a time for the Fed to pause on rate hikes because we have some interest-sensitive housing markets that have become vulnerable."

Existing-home sales are projected to drop 6.8 percent to 6.60 million this year from the record 7.08 million in 2005. New-home sales are forecast to fall 13.4 percent to 1.11 million from a record 1.28 million in 2005. Housing starts are likely to decline 6.2 percent to 1.94 million in 2006 compared with 2.07 million last year. NAR President Thomas M. Stevens from Vienna, Va., said rising interest rates have slowed home sales in many high cost markets, while job growth has boosted sales in some moderately priced areas. "Broadly speaking, rising inventories have taken the pressure off of unsustainable home price growth," said Stevens, senior vice president of NRT Inc.

"For most of the nation, this means future home price gains will be much closer to the normal returns we expect from housing."

The 30-year fixed-rate mortgage should average 6.9 percent during the second half of the year, and the unemployment rate is expected to average 4.8 percent in 2006. The national median existing-home price for all housing types is forecast to rise 5.3 percent this year to $231,300. With more construction in 2006 taking place in lower cost housing markets, the median new-home price is projected to increase 0.8 percent to $242,900.

"Historically, home prices rise 1.5 to 2 percentage points faster than the rate of inflation, so the rise we anticipate in existing home prices this year is actually a little above the high end of historic norms," Lereah said. "The double-digit home price gains we saw in 2005 underscore what a superlative year it was."

Inflation, as measured by the Consumer Price Index, is seen at 3.1 percent in 2006, compared with 3.4 percent last year. Growth in the U.S. gross domestic product is likely to be 3.4 percent this year. Inflation-adjusted disposable personal income should grow 3.1 percent this year.