This market continues to amaze me. I have a good friend named William that I grew up with in Mount Pleasant, SC.
He became a builder after he got out of college and I became a real estate agent. He had the luzury of taking a few years off when the market crashed and became a boat captain. He managed a large yacht for someone in the Northeast and traveled for several years throughout all the islands in the Caribbean.
So he had the best of both worlds. He had the ability to build houses and help people for several years and take a little time off when things weren't happening in the building industry.
When he came back the market had still been somewhat soft, but he decided to buy a foreclosure in Snee Farm.
I knew that the area was desirable because the more mature neighborhoods in Mount Pleasant continue to become more and more valuable as Mount Pleasant grows.
At the time we were not sure that he would be able to make a profit because of the amount of work that was needed to be done. But, he bit the bullet anyway and bought the property for cash.
He decided to try to save as much money as he could so he did a majority of the work himself. (A smart move in this economy.)
Well he was doing the work I noticed that the market really started to pick up. Mount Pleasant had become hot again. (At least in certain price ranges that is.)
Anything under 500,000 if it's close to town seems to sell really really well. This is kind of interesting because the other side of town is not as stable. (West Ashley still seems to be in a bit of a recovery, while the other side of the bridge is flying off the market.)
Long story short, William decided to add an extra master suite upstairs. Again another smart move, because many people are combining households in this economy.
This proved to be very effective. We had a good combination of a new home in an older neighborhood (basically.) We priced it well and it was a unique offering because it had dual master suites.
I put on the market yesterday, and within six hours it went under contract for full price.
Needless to say our friendship has not suffered.
Now it's onto the next one, so I've got my ear to the ground and we are hitting the pavement looking for the next best opportunity.
This is just a great time in real estate for everyone. Buyers are taking action, sellers are now able to sell, and rates are really low. The challenge is finding the good properties. I can help with that.
If you questions about homes in Mount Pleasant South Carolina, feel free to send me an email or give me a call. Thanks for reading.