Posted By nat wallen @ May 16th 2014 2:15pm In: Invest in Charleston SC Real Estate

The market used to be so very different in Charleston South Carolina. When I started real estate in 1995, all I remember is how things always seem to sell, and sell quickly. The next decade proved to be a whirlwind of real estate activity and, looking back in time, 1997 to 2006 showed a dramatic rise in prices. From a day-to-day perspective this meant absolute craziness. I remember sitting in movie theaters listening to conversations before the movie started. The topics were always about real estate. It seemed like everyone was trying to buy, and excited about selling. It was as if that's the way it always was. This was normal for me.  If I didn't sell in the first month, I started to think that I placed the sign in the wrong yard.

Almost like a light switch was being turned off, the real estate market stopped producing great results in the fourth quarter of 2006. Of course I really didn't realize it at the time; I just found ourselves having to try to explain to sellers why we were stopped getting showings on their homes.

Things were a little rough for a few years, but fortunately, I am still doing what I love to do and I made it through a major shift in the real estate market. During those changing times I had to regroup, and really try to figure out a different way to sell real estate. While the sky was falling in 2008, many realtors ended up getting out of the business completely. This was not an option for me. (I like it far too much)

One of the biggest things that I learned during this shift, was that I had to sell a property not once but twice. And in some cases, I even had to sell it three times.

The first sale is of course the most apparent; finding a buyer that wanted to buy the property. This is still pretty straightforward. The house goes on the market, we make a lot of phone calls, buyers ask questions, I market the property like crazy, and showings occur. If the property is presented well, and placed in the market correctly, showings occur and ultimately a contract is delivered.

The second sale gets a little bit more tricky. Homes in Charleston South Carolina are starting to raise in value. The problem with that is that appraisers have to go back in time to find comparables. So the second sale is actually selling the property to the appraiser. This can prove to be a challenge, especially with the new appraisal rules, as appraisers have to work in a very strict environment with tight regulations(too tight in my opinion).

Meeting with the appraiser, showing them comparables that were used to price the property, explaining all the activity we've had, and pointing out all the features and benefits that the property offers is far more important than it ever was.

As you may already know, the property has to appraise for the sale price or more in order for a buyer to obtain a loan. There are of course some exceptions, like if the buyer is putting down 20% or more, however, that is not typically the case when it comes to most buyers in these days and times.

Appraisers have a very difficult job. They have to follow a certain set rule of how to operate. I could have 30 buyers that want to buy a house for full price or more, yet the appraiser will still have to go through it's rigorous, detailed blueprint on how it is to be performed.

In summation, It certainly is not the fault of appraisers, it is just the human element that I deal with where their logic and inflexibility sometimes makes me feel like I'm banging my head up against the wall. I am sure I am not the only agent who has these feelings and challenges to deal with, but certainly having these problems beats the alternative. With these issues that I frequently face, it means I'm selling houses (regardless of how difficult it can be at times)... And I'm happy to do it.

If I can ever assist you with any homes in Charleston South Carolina, don't hesitate to let me know. Thanks for reading!

For more info visit MT Pleasant SC Homes for Sale

____________________________________________________________________________________________

Nat Wallen Real EstateNat Wallen is a Realtor in Charleston SC specializing in residential property sales. He has been licensed since 1995 and is the top listing agent with Carolina One Real Estate. Carolina One Real Estate is the largest company in the Charleston SC area of 700 plus agents. NOTE: Nat Wallen never solicits consumers interacting with his blog unless requestedYOUR comments are encouraged and welcomed. Thanks!



Comments (0)

Comments have been closed for this post.
Please contact us if you have any questions or comments.

Nat Wallen’s marketing campaign sells homes.

Thank You Charleston!

Read More

"I did not know there was a contest, so when Charleston City Paper readers voted me as their favorite Realtor, it was really nice. Charleston is a beautiful place, but the people here are what make living here so great!" - Nat Wallen

The Carolina One™ Sign

Read More

Every aspect of what makes a sale successful has been carefully dissected for your benefit. Even down to what colors are most memorable and recognizable together on the Carolina One Real Estate sign.

Drone Photography

Read More

Luxury properties and large tracts of land need to be viewed from a different perspective to attract a buyer. Standing out to buyers on the web is critical, and drones can make that happen in the right situation.

Luxury Portfolio Program

Read More

Carolina One sells more homes over $1,000,000 than any other company in Charleston. Our Luxury Portfolio Program includes high quality peripherals, professional photography and an international marketing reach including the Wall Street Journal, Luxuryhomes.com and our Luxury Homes magazine.

Coming Soon Program

Read More

With nearly 1000 agents, I will share your homes as a "coming soon" offering in our private Facebook group. Your home will be exposed to all of the buyers Carolina One agents are working with and will sell your home faster, and for more money... and this may even happen before it is placed on the market.

A Secure Lockbox

Read More

The latest technology is utilized to ensure your home is easily accessible and completely secure. You can rest assured that your home will only be accessed by licensed SC Realtors, on your time frame, and on your specific terms.

Showing Appointments

Read More

Handling the day-to-day showing appointments is an integral part of the sales process. Nat is able to efficiently arrange showings designed to follow the guidelines that you determine.

High-Quality Photography

Read More

Quality photography plays an important role in attracting a buyer for your home. By taking the time to determine the best angle, time of day and what photos to include in your marketing campaign, Nat’s photography speaks volumes.

A Professional Description

Read More

Careful attention to details will ensure your home is described and presented in the best light possible. By describing your home accurately and positively, Nat will work with YOU as the seller to craft the best feature and benefit list possible.

Carolina One™ Marketing

Read More

Your home sale will benefit with the Carolina One team at work. Through a variety of different mediums, the fully staffed marketing department works to expose your home to all buyers coming into the Charleston area.

The Caravan Tour

Read More

Nat Wallen will arrange a Carolina One agent tour of your home. Agents will become familiar with what your home offers by seeing it in person, and can share this information with their clients. In addition, agent feedback provides insightful opinions on the asking price and what will aid in the process.

The “Now Showing” System

Read More

Using Carolina One’s exclusive “Now Showing System,” Nat will proactively contact agents currently looking for a home like yours. This proprietary software system will locate agents currently working with buyers that fit the price range and area for your home.

Office Notifications

Read More

Carolina One has several offices in the Charleston area. With quality materials and a strong network of active Realtors selling homes each day in your neighborhood, your home sale will benefit with the strength of Carolina One’s agents working together.

Free Home Warranty

Read More

An American Home Shield home warranty will be placed on your property at no cost to you. This coverage is provided to you while your home is listed with Nat Wallen of Carolina One Real Estate.

Multiple Listing Service

Read More

Nat Wallen takes great care to provide an engaging description and high-quality photography to share your home’s features with all Charleston area buyers.

Buyer E-mail Notifications

Read More

With Nat’s knowledge of how to push the MLS features to their full capabilities, each day as buyers come into the market looking for a home like yours, they will receive an e-mail from their agent letting them know it is for sale and ready to be shown.

CarolinaOne.com

Read More

With over 80,000 visitors each month, Carolina One’s professional website allows your home’s quality photos, detailed description and availability to be shared with incoming buyers to the area on a local, national and global scale.

Relocation Notifications

Read More

Leading Real Estate Companies of the World will be notified of your home’s availability for sale. Composed of 550 firms, 4,600 offices and 140,000 sales associates in over 30 countries, this group of successful real estate agencies send referrals daily.

Mass Realtor Syndication

Read More

NatWallen.com is a heavily used Charleston real estate website. In addition to reaching hundreds of buyers visiting each day, your home will be syndicated to over 3,000 Realtor websites.

Multiple Websites

Read More

Your property will be listed on NatWallen.com, CarolinaOne.com, Google, CLRSearch.com, Trulia.com, Realtor.com, HomeFinder.com, FrontDoor.com, HGTV.com, SouthCarolina.com, Overstock.com. Yahoo.com, Fizber.com, Charleston.com, Vast.com, Hotpads.com, AOL.com, etc.

Social Networking

Read More

Your home will be shared through various social networking portals. Nat controls several Facebook pages and groups. Your property will be shared on pages like “Charleston, SC” - “Fans of Charleston” - “Fans of MUSC” - “Mt. Pleasant SC”- “The Nat Wallen Team” - ”Nat Wallen Real Estate” and “The Best of Charleston.”


Sell your home with the market leader.