Lexington South Carolina Real Estate

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The Economy

Ding Dong The Election is done............
It is on the web, newspaper, radio, and water cooler about the economics of our country. It is a battle of arm chair quarterbacks vs back seat drivers.
Everyone has an opinion. My thoughts are not what everyone would agree with or some say I need to be an economic adviser to The President.
Example of our times. As a Realtor a buyer was declined a mortgage on a new home while putting over 60% down payment. This would be there 2nd home and was out of state, but only mortgaging 40%. " Things that make you say Hummm". Now here we are with great credit worthiness person and an economy that is wanting home buyers, and someone that tells them NO.
I was listening to my XM radio and hearing people voice their opinion on what it will take to fix our economic situation. I listened for couple hours a day over last week and the consistent thing was, something has to be done. As one reporter made a great point that the same bank that is getting help from the Bail out money are the same banks that are trying and working toward getting more deposits and less efforts to loan money. So in a nut shell banks want the free money but don't want to give out any (or as much as they receive). Maybe that is to keep the bank alive and pay off the corp exec large yearly bonuses.
I discovered many things over last couple months after reading and listening to many different speakers, some of which I agree with but most of them have components that have merit. They are as follows. 1-Putting money into a banking system that is not eager to lendmoney might not be the answer, but it will put some liquidity into the system that will help other fronts. 2- When an economy is in a recession the one true factor that makes brings us out is Real Estate. 3-The federal government needs to abandon the $7,500 tax break program, it is not being utilized. 4- Government backed LOW interest rates i.e. 4% need to be introduced immediately. 5- Incentives to home ownership need to be increased in the form of tax savings for purchases made over next 120-180 days. 6-More efforts to promote great opportunities in real estate not doom andgloom in the media, Government paid AD's. 7- Partnership with small builders and small mortgage companies to offer great opportunities, not just FREE money.
With all this being said, I must repeat what I believe and have been telling Realtors, friends and family for last 90 to 120 days. Buy Now, Interest rates are low and Sellers are motivated. The opportunity to buy low is upon us. The only way you know the true bottom is when it past you. Do you buy stocks when they are at their top and everyone is buying them to driving the price up? Buy Now build now.
Edwin

Lexington home with over acre lot, Great Home

edwin gerace | Russell & Jeffcoat Realtors | 803.609.7653 2809 Dogwood, Lexington, SC Lexington Brick Home on 1.58 acres. This home has an additional acres that can be purchased. Hardwood floors through out, smooth ceilings, Formal Di 3BR/2BA Single Family House offered at $235,000 Year Built 1963 Sq Footage 1,984 Bedrooms 3 Bathrooms 2 full, 0 partial Floors 1 Parking Unspecified Lot Size 1.58 acres HOA/Maint $0 per month DESCRIPTION Lexington Brick Home on 1.58 acres. This home has an additional acres that can be purchased. Hardwood floors through out, smooth ceilings, Formal Dining Room, Formal Living Room, Fenced Back yard, wooded Lot, Sun room with Heat and cool, 3 exterior storage buildings, Fireplace, and much more. see additional photos below PROPERTY FEATURES Central A/C Central heat Fireplace Hardwood floor Tile floor Family room Living room Breakfast nook Dishwasher Refrigerator Stove/Oven Attic Laundry area - inside Balcony, Deck, or Patio Yard COMMUNITY FEATURES Covered parking Guest parking OTHER SPECIAL FEATURES 1.58 Acres close in town Brick House Sun Room Fenced Back yard All Formals ADDITIONAL PHOTOS Photo 1 Formal Dining Rm Family Room Kitchen Sun Room Back Yard Contact info: edwin gerace Russell & Jeffcoat Realtors 803.609.7653 For sale by agent/broker Equal Opportunity Housing Posted: Apr 9, 2009, 5:08am PDT

Condo on Lake Murray with Ammenities

edwin gerace | Russell & Jeffcoat Realtors | 803.609.7653 120 Breezes DR 31-a, Lexington, SC Elevator Unit Lake Murray Ammenities that can not be beat 3BR/3BA Condo offered at $259,000 Year Built 2008 Sq Footage 1,938 Bedrooms 3 Bathrooms 3 full, 0 partial Floors 1 Parking 2 Car garage Lot Size Unspecified HOA/Maint $257 per month DESCRIPTION 3 Bedroom 3 Bath Unit priced $30,000 less than any other of this type unit. PRICED TO SELL. Elevator Unit, Large Open floor plan over 1900 SqFt. Deck that stretchs across the back of unit. Huge master and master bath Community amenities include: Pool,Tennis Court, Volley Ball Court, Boat Ramp, Boat Dock, Boat Parking, Beach entry Pool, Clubhouse, Firepit, Gated Entrance and much more. Call Edwin about Hammock Bay on Lake Murray 609-7653 see additional photos below PROPERTY FEATURES Central A/C Central heat High/Vaulted ceiling Walk-in closet Hardwood floor Family room Dining room Dishwasher Microwave Balcony, Deck, or Patio Yard Swimming pool COMMUNITY FEATURES Garage parking Guest parking Clubhouse Storage space(s) Fitness center Swimming pool(s) Tennis court(s) Lake Playground Gated property Elevator OTHER SPECIAL FEATURES 1st Floor Unit with evelvator Move In condition Large Deck Contact info: edwin gerace Russell & Jeffcoat Realtors 803.609.7653 For sale by agent/broker Equal Opportunity Housing Posted: Apr 9, 2009, 5:57am PDT