Happy Thanksgiving!

We hope that you and your loved ones have a happy and safe Thanksgiving!
They are going to kill me. Brad

We just listed this home on 1210 Fairview in Melrose Heights

This is a cute traditional home! This 3 bed, 1.5 bath, 1,368 sqft home is located in sought after Melrose Heights. This home boasts a formal dining room, large galley kitchen with updated appliances, updated baths, a sunroom, a fire place and a shed. This is a great home at a great price. Contact us for more details.

Welcome to Columbia, Now Get Out and See it!

When was the last time that you went to Finlay Park?

If you have never been you need to get out and see it. Once used for a commercial district this revitalized oasis in the middle of the city can do everyone some good. I recently visited the park one Saturday with my dog, Addy, to shoot some pictures and the views are incredible. Of course everyone knows the view, you can see it in every magazine and on every real estate agents website that has anything to do with Columbia. But if you really take a minute to sit on a bench and listen to water rush by, it can be a rather relaxing experience. Columbia's a beautiful city, get out there and see it.

Here are some pictures...

Brad Allen

Prudential Real Estate Ranked Highest for Seller Satisfaction

It’s official: J.D. Power and Associates has ranked Prudential Real Estate “Highest in Satisfaction for Home Sellers among National Full Service Real Estate Firms,” in its 2008 Home Buyer/Seller Study.

The inaugural study measures customer satisfaction of home buyers and sellers with major national real estate companies. Overall satisfaction is determined by examining four factors for the home selling experience: sales professional (43%); marketing (38%); office (12%); and services (7%).

Among home sellers, Prudential Real Estate achieved a score of 793 on a 1,000-point scale -- and Prudential Real Estate received particularly high ratings from customers in the marketing and office factors.

“We are very proud of this distinction, as it underscores the quality of our affiliates and their hard-working sales professionals,” said Laurie Keenan, president of Prudential Real Estate. “Our sales professionals are local experts, and sellers appreciate their ability to market and price homes right -- along with providing exceptional, attentive service.”

Just Named #2 in South Carolina

We were just awarded the #2 spot for the most volume and listings in the 3rd quarter for Prudential in South Carolina. We were #3 for the 1st quarter and #2 for the 2nd. All of this could not be possible if it were not for our clients, who trust their biggest investments in our hands. Thank you to our clients and team members who helped win this award.

Can You Afford That House?

Before you start searching for your dream home, you first need to determine a price range you can afford. According to the Federal Housing Administration (FHA), depending on the consumer’s current debt ratio, most people can typically afford to pay 31 percent of their gross monthly income for mortgage payments. For example, if you earn $50,000 annually, then your monthly income is about $4,167. Thirty-one percent of that is $1,292.

There are several online tools to calculate a monthly mortgage you can afford using factors such as your current monthly expenses, down payment and the interest rate. You can also work with a lender to get pre-qualified for a loan. This estimate will help you gauge how much money you may be able to borrow and the monthly mortgage payments.

However, the amount you are able to afford for a home loan should not be your only consideration for determining your price range. With homeownership come other housing expenses. Utilities, Taxes, Association Dues, Maintenance, Insurance, Remodeling/Upgrades
By determining all the costs associated with homeownership, you can go into your home search with a reasonable price range that will allow you stay within your budget.

By Mary Lane Sloan

Buyers Agent

The Andrea Reynolds Team

Tips for First-Time Homebuyers

Home-price adjustments in markets around the country have opened doors of opportunity for many renters. If you are transitioning from renter to homeowner, the prospect of making such a large investment may be exciting, while at the same time overwhelming. But it doesn’t have to be. Here are six common mistakes to avoid.

1. Not understanding the homebuying process. Educate yourself. Find a homebuyer seminar that you can attend or research online. The U.S. Department of Housing and Urban Development Web site (www.hud.gov) has an entire section devoted to homebuyers with common questions of first-time homebuyers, mortgage and home-buying programs information, downloadable tools such as a wish list and home-shopping checklist, tips on selecting a real estate professional, etc. Likewise, Prudential Real Estate’s popular Web site, prudential.com/realestate, offers consumers brand-new tools for the homebuying process, such as free home environmental reports, Value Range Estimates and Property Profiles, among other resources.

2. Not asking questions. There are many facets and intricacies to the homebuying process, so although you may gain a basic knowledge, you will still have questions. Don’t hesitate to let your real estate professional know that you are new to the process. Make sure you choose a sales professional who is willing to spend time with you and walk you through the entire process. He or she will expect you to have questions at each step—from house hunting, to making an offer to the closing. Remember, this is one of the largest financial transactions of your life, so you want to have a clear understanding of what’s going on.

3. Buying on impulse. Don't feel pressured into making an offer on the first home you see. Buyers, especially first-timers, may be impressed by the first two or three homes they view. Look at a good selection. List the positives and negatives about each home. Narrow the prospects to three or four and then return for a closer look. When you decide to make a bid on a property, work with your real estate professional to get all of your questions answered before making an offer. But don't wait too long to make an offer. The longer you wait, the greater the chance other prospective buyers may place offers, making it harder for you to negotiate a good deal.

4. Looking outside your price range. Before beginning your home search, consider getting pre-qualified to so get an idea of how much you may be able to borrow. Use this information as a starting point in determining your price range. Then take into consideration other factors that will affect your monthly budget once you are a homeowner, such as property taxes, homeowners insurance, utilities, private mortgage insurance (PMI) and maintenance.

5. Not planning ahead. Think about personal changes you are planning in the next five to seven years. For instance, are you starting a family, and if so, is the home large enough and will it continue to be? If this will be a starter home or if you think you’ll be relocating in a few year, you’ll probably want to pay closer attention to appreciation and resale value. If a double-income is necessary to qualify for financing and to make your payments, do your plans foresee an income sufficient to continue making payments?

6. Failure to focus on location. Don’t just focus on the house. Examine the community. Does it suit your lifestyle? Is the area safe, well-maintained, close to work, stores and schools? Find out about zoning and what new construction is planned on vacant land in the immediate area. Also consider the property marketability when it’s time to sell.

Above all, remember knowledge is key. No question is a silly question. Your real estate professional can be an invaluable asset throughout the process. Making smart home buying decisions will make the home-buying process less scary and your first home purchase a rewarding experience.

By Mary Lane Sloan
Buyers Agent
The Andrea Reynolds Team

7 Loggerhead Drive For Sale (Columbia, South Carolina)

Guess what we did? We listed another home in Turtle Creek this week! This client was a referral from our previous client, who house we sold on 13 Loggerhead. Believe it or not we get about 3/4's of our business from repeat and previous clients. That is huge, at least in our book. Check out the description below and the virtual tour. Let us know if you want to buy it, jk.

This beautiful 3 bed, 2 bath, 2,100sqft traditional home is located is beautiful Turtle Creek. This home boasts: a formal dining room with trey ceilings; a large living room with cathedral ceilings, fire place and French doors leading out to a screened-in porch; a large eat-in kitchen with updated appliances; a master suite with trey ceilings, separate shower, garden tub and a walk-in closet; and a finished bonus room over a spacious two car garage. Outside you will find an easily maintainable lawn that backs up to a protected forest

Survey: Home values trump for-sale listings

Survey: Home values trump for-sale listings

By Inman_News
Created 11/12/2008

Gauging home values is a high priority for consumers visiting real estate sites, followed by finding for-sale homes, monitoring price trends, searching for a real estate agent, and finding financing, according to a study [1] conducted for Realtor.com operator Move Inc.

The study, based on interviews conducted from Oct. 10-12 by research company GfK Custom Research America, concluded that 61.5 percent of consumers visit online real estate Web sites to find home values. Meanwhile, 60.9 percent use the sites to locate for-sale homes and 53.3 percent use them to view price trends.About 81.6 percent of respondents said that the availability of affordable mortgages is a serious problem for home buyers.
About 28.5 percent of respondents said that the election of a new president will help to instill confidence in the housing market, followed by a decline in the foreclosure rate (24.1 percent) and a rise in available mortgage credit (19.9 percent). And 50 percent said the incoming president "should make helping troubled homeowners avoid foreclosure a priority during his first 100 days in office," according to a Move announcement about the survey. Increasing the supply of affordable mortgage credit (22.7 percent) and helping first-time home buyers to buy a home (16 percent) also ranked high among presidential priorities for survey respondents.
Among the 37.4 percent of respondents who identified themselves as home buyers, about 40.7 percent reported that economic conditions have kept them on the fence, and 28.1 percent of homeowners participating in the survey reported that they have sold or know someone who has recently sold a home for a lesser amount than desired.

Also, the survey revealed that about 4.7 percent of respondents plan to buy a home in the next 12 months, with an additional 17.7 percent planning to purchase a home in one to five years.

Copyright 2008 Inman News

What Obama Means for Housing

Washington Report: What Obama Means for Housing

by Kenneth R. Harney

What's an Obama administration, plus heavy new Democratic majorities in the House and Senate, going to mean for housing and real estate?
That's the trillion dollar question in Washington this week -- and nobody can give you the answers for sure. It's way too early - there are two full months before inauguration day in January. But between now and then, there are going to be some important indicators. Tops on the list: What gets done -- if anything -- during the upcoming lame duck session?
Officially Congress is scheduled to come back the week of November 17 to finish up loose ends on the legislative calendar.

Democratic leaders in both the House and Senate have said they'd like to push through an ambitious emergency economic stimulus plan - portions of which are likely to be aimed at keeping financially-distressed home owners out of foreclosures, and pumping up housing sales.
During the closing days of the campaign, Senator Obama did not say whether he favors trying to pass a stimulus bill through a lame-duck Congress where Republicans could influence or sabotage the results.

The logical alternative to that would be to put together his own plan and come back in January, with heavy Democratic majorities, and push it through as a dramatic way to jump-start his new administration. But whatever the timing, you can count on several major Obama priorities:
Number one: Large-scale, systematic mortgage relief for home owners behind on their loans.
That package could include a freeze on all foreclosures by lenders for 90 days or more; mandates for banks and loan servicers to modify the terms of mortgages to prevent foreclosures; plus new powers for bankruptcy court judges to require lenders to reduce loan balances owed or cut interest rates.

The banking and mortgage lending industries strongly oppose changes like these -- and that could be one of the first big battles the Obama administration wages on Capitol Hill.
You can count on quick passage of long-stalled Democratic bills on predatory lending, appraisal reform, plus a major effort to consolidate and strengthen the powers of financial regulatory agencies to oversee the mortgage and banking industries.
Don't be surprised if you see President-elect Obama name some of his key cabinet members early -- especially his nominee for Treasury secretary. This would allow the outgoing Bush officials to work with the incoming leaders on programs such as mortgage relief, and to have an orderly transition.

Copyright © 2008 Realty Times. All Rights Reserved.

A House Worth 1 Million Dollars - 1638 Catawba

Columbia has not seen a house like this yet. Read below for a full description.

Words cannot do this incredible home justice. By using an inverted three story design the owner will enjoy incredible views of downtown. This exquisite home boasts antique heart pine floors out of Springs Mill, a central audio system, Pella windows, custom 3” mahogany garage doors, top of the line appliances, rare granite, a wet bar, and game room. The master suite features a walk in closet, an oversized steam shower, custom cabinets and a balcony. The builder has spared no expense. This home is truly worth its price.

Contact us today for your personal tour.

Realtors introduce stimulus plan

Realtors introduce stimulus plan
By Inman_News
Created 11/10/2008

ORLANDO -- Directors for the National Association Realtors on Monday formally signed off on a real estate stimulus proposal that calls for a temporary $7,500 first-time home buyer tax credit with no repayment requirement and a temporary federal buy-down of mortgage rates to 4.5 percent or less.

The group's plan also calls upon the federal government to make permanent the temporary increase in FHA, Fannie Mae and Freddie Mac loan limits to $729,750 in high-cost areas. The limits are scheduled to roll back to $625,000 on Jan. 1.

The plan also reiterates the association's long-standing aim to permanently block banks from engaging in real estate brokerage and management.
Dale Stinton, NAR CEO, said that the group's proposal would cost an estimated $100 billion per year and for the temporary relief measures to run for two years.

Realogy Corp. floated the idea of government-financed interest-rate buy-downs in October, saying they could unleash pent-up consumer demand for housing (see story [1]). Traditionally, sellers have used interest-rate buy-downs as an incentive, paying lenders extra points up front to obtain a reduced interest rate for a buyer, often for the first two or three years of a loan.
Stinton said NAR arrived at the 4.5 percent or lower interest-rate buy-down level as "a result of some surveys and focus groups and talking to some brokers around the country," and that the group's research indicates that a buy-down in interest rates to 3 percent to 4.5 percent would get the market rolling again.

"We think in a couple years things will come back to where they should be," Stinton said. He said interest-rate buy-downs could be funded as a part of the $700 billion federal plan to bring liquidity back to the financial markets.

"It's a small price to pay, in my opinion, to stop the hemorrhaging," he said, as he said a more prolonged market slump could otherwise prove far more costly.
Stinton noted that past stimulus efforts fell short in getting "the demand side moving again."
"We have to find a bottom to this market, from the real estate point of view and from an economic point of view," he said.

Several directors proposed to amend the language in the four-point plan, though most amendments failed as NAR officials urged directors to adopt the given language as a starting point for federal lobbying efforts.
Although Congress is expected to consider passage of another stimulus bill when it returns for a "lame duck" session, some economists have recommended that it focus on government-funded infrastructure projects like roads and bridges that create jobs and stimulate spending (see story [2]).

Also at the NAR board of directors meeting, association officials announced the approval of the charter for the group's federal credit union launched by the group.
The group's budget, approved at the meeting, anticipates that membership could drop to about 1.06 million in 2009, down from an earlier projection of about 1.08 million. The revised projection is also down from a peak membership of 1.36 million in 2006 and a level of 1.24 million as of Oct. 31, 2008.
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Our First Blog

We are so excited to be on a new blog. We had one before but it was not very easy to use or find. Check out our website at http://www.theandreareynoldsteam.com/ where you can see pictures and a whole lot more.