http://www.bicycling.com/topbikefriendlycities/slide31.html

Charleston, SC has recently been named in the Top 50 Cities for Bicycling.  There was also a wonderful event in Hampton Park yesterday.

#1: Just because it’s a buyer’s market doesn’t mean you should buy right now. Don’t let the lucrative market dictate a buying decision if the time isn’t absolutely right. Potential homebuyers need to ask themselves if they have a good credit score, if their job is secure and if they can stay in the home for a few years. If the answer to these questions is “no,” it might make more sense to wait until life and finances are more stable.

#2: The cost of owning a home is more than just the purchase price. On top of a mortgage payment, there are several monthly fees and expenses any first-time buyer should consider when becoming a homeowner: insurance, property taxes, utilities and maintenance. Think about scaling back the home price in order to better budget for the entire package.

#3: Programs are out there to help first-time buyers. A sizeable down payment is great to have for a home purchase, but not everyone can afford to fork over 20 percent upfront. Fortunately, there are many federal, state and local programs geared toward helping first-time homebuyers with down payments, interest rates and loan terms sure to make the whole process and affordability a bit easier.

#4: Foreclosures and short sales present great deals, but proceed with caution. Buying a foreclosed or short sale home can be a risky proposition for a first-time buyer. Foreclosures are often sold “as-is,” while a short sale transaction can be lengthier and more complicated than a typical home purchase. First-timers should consult an agent or attorney with specialization in these areas.

#5: Getting pre-approved for a loan gives you more buying power. Obtaining lender pre-approvals are important because it establishes a homebuyer’s maximum purchase price, shows sellers that the buyer is serious about buying a home and lets the homebuyer compare interest rates and terms to find the best deal.

#6: Good school districts boost property value. One of the most important aspects of a home’s value is the neighborhood where it’s located. Even if the homebuyer does not have kids, buying a home near sought-after schools can help the resale value.

#7: You may be able to access your tax credit upfront. Buyers using FHA-insured mortgages can apply their tax credit toward their home purchase immediately, rather than waiting until they file their income taxes to receive a refund. Prospective buyers who believe they qualify for the credit are also allowed to reduce their income tax withholding, therefore increasing their take-home pay.

#8: Not all real estate agents represent buyers. There are three types of agents: listing agents, who represent sellers and help them get the best price; buyers’ agents, who represent buyers and protect their interests; and agents who represent either (or both). Often, first-time buyers prefer to work exclusively with a buyer’s agent so there are no possible conflicts of interest.

#9: Doing your homework can help you make a competitive offer. Before buying the home, determine the property’s market value by having the realtor conduct a comparative market analysis. This report will show what buyers were willing to pay for similar homes in the area, giving a good idea of what will make a fair offer.

#10: It’s important to have a back-out plan. Before signing on the dotted line, make sure to have a contingency plan in case things don’t go as planned in the home inspection or appraisal. If the home has a major flaw or doesn’t appraise for the purchase price, an escape plan allows the contract to be voided.

SOURCE: FrontDoor.com

Demolition uncovers treasured history.

All walls and partitions have been removed on each of the five floors

of the Cigar Factory, exposing some priceless treasures. Beautiful archways, historic signs, posters and artifacts from the building’s

time as a true cigar factory have been uncovered. Plans to incorporate

the past into the future Cigar Factory will follow the ongoing preservation of its legacy.

Will the Cigar Factory be your home for business? 

Along with luxury lofts, Cigar Factory will also feature 25,000 square feet of modern office space and 35,000 square feet of premium retail space. With plenty of parking, convenient access from downtown and Mt. Pleasant, this is a prime location for business. Chris Fraser of Grubb & Ellis | Barkley Fraser explains more.

Bridge and City views through massive, new industrial windows.

Old windows and bricked in windows are being removed and being replace with new, hurricane resistant windows. The massive new windows are composed of three layers of glass and one layer of acrylic with a true divided light design. Every effort is being made to capture the original look of the fabled original Cigar Factory design. You can see photos of the windows being replaced by clicking here.

Take an interactive tour of the Cigar Factory.

As the Cigar Factory is being transformed into luxury lofts, you can take an interactive tour of the building and learn more about the primo amenities, including 15-foot ceilings, massive industrial windows, city and bridge views, rooftop pool and much more. Click here for the Cigar Factory experience.

The House of Representatives approved legislation by Reps. Waters (D-CA) and Frank (D-MA) to extend authority under the National Flood Insurance Program until March 31, 2010. Without this authority, the program could not issue policies effectively preventing property buyers from legally obtaining mortgage loans in federal designated floodplains. The extension is needed to give Congress more time to consider long-term reforms to the program. Next the Senate must approve the legislation before the program’s current expiration date, which is September 30th.

On July 29, 2009, the Federal Reserve Board issued a new publication, “5 Tips for Shopping for a Mortgage,” to help consumers find the mortgage that is best for them. The 5 tips, including advice and helpful links, are:

1. Know what you can afford.
2. Shop around—compare loans from lenders and brokers.
3. Understand loan prices and fees.
4. Know the risks and benefits of loan options.
5. Get advice from trusted sources.

The Wiggle Billboards have all of Charleston a buzz. What does it mean Wiggle in the Bedroom, Wiggle in the Living Room? Now you can find out all of the Wiggle information at www.LowcountryWiggleRoom.com