The Obama administration's proposal to wind down Fannie Mae (FNMA) and Freddie Mac (FMCC) makes it clear that rental housing will be a big part of the changed housing landscape.
Looking for a Property Manager to take care of your property? East Cooper Property Management (ECPM) is a professional management company that is owned and operated by the owners. Their mission is to manage the properties entrusted to them in a manner that will maintain and enhance the value of those properties and result in the placement of responsible, long term tenants while developing relationships with owners and tenants that will be of benefit to all.
ECPM has three affordable service plans to cover every aspect of managing your rental property. Call them today for a consultation. 843-709-8087
Read more about the rental and housing market: http://www.foxbusiness.com/markets/2011/02/11/rental-market-big-housings-future/#ixzz1c0vf6i7x
Yeterday it was announced that Mount Pleasant and Hanahan are the grand winners of South Carolina's safest communities awards by the Foundation for Traffic Safety of AAA Carolinas.
This year Charleston dethroned San Francisco as the best city in the US according to Conde Nast Traveler Magazine.
And as I posted earlier Husk Restaurant was named Bon Appétit magazine's September 2011 issue best new restaurant.
So if your looking for a wonderful city to call home on the east coast, look no further. Dreaming about perfect weather? We have that too. You really need to consider a visit to Charleston South Carolina and anytime of the year is perfect. We have art, excellent restaurants, shopping and several farmers markets, golf, boating, fishing, history, and the beaches. All we need now is YOU!
Yes I am a Real Estate and of course I want to sell you a home, but sometimes buying isn't the best option. Thought I'd share this calculator to help guide you with what is best for you. If you think buying is best please give us a call! Our team will guide you through the process one step at a time.
The InterTech Group Inc aerospace subsidiary TigHitco will be building it's sixth plant in North Charleston South Carolina bringing 350 more jobs to the area. Boeing is one of TigHitco's main customers but they sell to aerospace companies all over the Southeast. Intertech's VP said Boeing did not make them pick Charleston. "The state of South Carolina and Charleston County put together the right incentive package. That's one reason," said Jay Tiedemann, InterTech's executive vice president and chief operating officer. Jobs will include "not just blue-collar jobs but engineering jobs, administrative jobs and highly skilled production jobs." The Plant should be open fall of 2012.
In this market is more important now than ever to use a Realtor to market your home. A full time Realtor with experience, expertise and a proven record. A Realtor will help you find the right price range for your home. Because buyer search for homes in a specific price range, positioning your home in the middle increases potential buyer chance of seeing your home.
You also want a Realtor with great online presence. They need to be all over Internet marketing. Does your Realtor advertise on multiple web sites? Where does their website rank on the search engines?
Have your Realtor show you examples of fliers, literature they do for their listings. Buyer are more likely to take a flier than call on a sign. These are just a few things that Creaturo and Associates specialize in. We have a marketing plan no one can beat and a team of agents that specialize in your neighborhood. We are always "on call" for your and our buyer so you are never neglected or uninformed.
So whether your Buying or Selling....Creaturo and Associates at Century 21 Properties Plus is the only name to Remember!
The nice things about working with Creaturo and Associates of Century 21 Properties Plus in Charleston SC is that we have over 120 years of experience. And our experience has brought us a network of people that we can recommend to you. We can recommend Joe The Plumber, Danny the Insurance Guy, Daniel the Attorney, Ray the Mortgage Specialist, Sergay the Painter and Chris the Home Inspector. We can also help you with recommendations on hotels to stay at during your visits, we can guide you to great places to eat in the Charleston area and tell you about all the "Must See" places in Historic Charleston.
Our team doesn't just sell single family homes, town homes, condos, although we do a pretty good job at that, we also sell Charleston South Carolina. We plan on being in the business for many years to come, therefore, we give all our clients the best service possible because we want them to be our clients and friends now and in the future.
JOIN US FOR CENTURY 21 PROPERTIES PLUS HALLOWEEN HOME TOUR OCTOBER 26 FROM 1-5 PM
HOMES ON TOUR
By Creaturo & Associates
Arlington of Park West in Mt Pleasant SC is a wonderful place to raise your children. With sidewalks, duck filled ponds and the Park West amenities you can't go wrong. Park West is a planned community with shopping, doctors offices, East Shore Gym, daycare and great restaurants. The town of Mount Pleasant Recreation department has multi use fields as well as a brand new indoor basketball court all in the Park West community. There is also a indoor pool.
The homes in Arlington were built by Beazer Homes starting in 2000. There were several different models built ranging from 1371-3000 square feet. There are one and two story homes with several different floor plans. The yards are nice size, some backing up to woods, ponds, and private protected areas. Some of the Homes on Andover Way have a small natural stream flowing behind the property. View all Arlington Homes currently for sale on Charlestons MLS.
Currently Creaturo and Associates of Century 21 Properties Plus has a spacious family home for sale. It's a open floor plan 3 bedroom 2 bath home with a possible fourth bedroom/frog. The property has brand new hardwood floors throughout, fresh paint, wired for surround sound, recessed lighting, large screen porch, new light fixtures, built ins in the family room as well as the frog. The kitchen has a flat top stove and has a center island as well as wine rack built in. The extremely open floor plan has a separate formal dining and living area. There are many windows in the home allowing lots of natural light. The master bath has a garden tub, block glass window and separate shower. The yard is large, private and fenced jsut waiting for your children and your dog.
As Gustav is on the doorsteps of the Gulf coast it's time to act. Creaturo & Associates would like to call everyone & your friends to help the people in need.
We will be taking up baby & children supplies, pet supplies & gift cards. We will then donate them to our local Red Cross to be brought to the gulf coast.
Please drop off all supplies to our office at 1200 Two Island Ct Mt Pleasant ( on the IOP Connector next to the DMV) starting Monday (Labor Day)
For more info please call Dave Creaturo @ 843-709-6687
Do all loans have prepayment penalties?
Not all loans have prepayment penalties, meaning you have the ability to prepay your loan and refinance if rates fall. If a loan program with a prepayment penalty is offered to you, you will also be offered the same loan without a prepayment penalty so you can compare rates and decide which option is best for you.
Do I have to have an impound/escrow account for the payment of my taxes and insurance?
You are not required to have an impound/escrow account unless the lnder program specifies it. Electing not to have an impound/escrow account will increase loan points by .25.
If my loan requires Private Mortgage Insurance (PMI), when can I have it removed?
On a 1-unit primary residence or second home, federal regulations require that PMI be automatically cancelled when your loan balance reaches 78% of the original property value at the time the loan was secured.
Depending on the loan program, you may be able to request in writing that PMI be removed sooner, based on an increase in the property value as determined by a new appraisal to be ordered by the servicer. Generally, PMI must have been in place for at least two years and you must have a good payment history for PMI to be cancelled under this scenario.
When is paying off my current second mortgage considered cash out?
If your current second mortgage was not obtained in conjunction with purchasing your home, then paying it off with a new mortgage is considered cash out.
What is a Three Day Right to Cancel?
On refinance transactions, Federal law mandates that you have three days, after signing your loan documents, in which to cancel your loan. This three day period includes Saturdays, but excludes Sundays and holidays. Your loan will not be funded until this period has expired.
What is a FICO score?
A FICO score is computed based upon a statistical analysis of your credit history and patterns.
What are loan points?
Points are paid to reduce the interest rate you pay on a loan. Each loan "point" is equal to one percent of the loan amount. Your decision on whether or not to pay points depends on how long you plan to keep the loan, your tax situation, and other factors.
Are loan points tax deductible?
For most taxpayers, points paid on purchase loan transactions are tax deductible in the year the home is purchased and points paid on refinance transactions are tax deductible over the life of the loan. Tax consequences vary depending on the specifics of the transaction and the taxpayer. We encourage you to consult your tax advisor regarding your tax situation.
What are loan fees?
Loan fees are fees paid in conjunction with closing a mortgage loan. There are other fees paid to third parties such as Appraisal, Escrow and Title Insurance. Your Good Faith Estimate (GFE) of Closing Costs will itemize all fees.
What is PMI?
Private Mortgage Insurance is charged on loan amounts exceeding 80% of the purchase price or appraised value of a home. The mortgage insurance protects the lender against loan default.
What is the difference between a conforming loan and a jumbo loan?
A conforming loan is one that is less than the maximum loan amounts set by Fannie Mae and Freddie Mac. Jumbo loans are loans which exceed these limits. The loan amounts are revised each year to reflect the change in the national average cost of a home. The current conforming loan amount limit for a Single Family Home or Condo is a loan amount under $417,000. Anything over that is considered a jumbo loan.
What is prepaid interest?
Prepaid interest is paid at the time of closing of your loan to cover the interest that will accrue on your new loan for the remaining days of the month.
What is the difference between the rate and the APR?
The note rate is used to calculate your interest payment each month. The APR (Annual Percentage Rate) is a calculation based on standardized federal regulations. In addition to the interest rate, it factors in other finance charges such as certain loan fees, to show the total cost of the financing over the scheduled life of the loan. The APR is designed to help borrowers fairly compare different lenders and loan options. Please note that the loan amount will influence the APR calculation, with higher loan amounts reporting lower APR calculations. To get a true comparison, the same loan amount must be used.
How is APR calculated?
Federal regulations define Annual Percentage Rate (APR) as the total cost of your credit calculated as an annual rate. The APR will almost always be higher than the Interest Rate (with some exceptions on ARM loans). For purposes of the APR calculation, points, lender fees and prepaid interest amounts collected at closing are known as "Prepaid Finance Charges." The Loan Amount minus the Prepaid Finance Charges is known as the "Amount Financed." On a fixed rate loan, the APR can be calculated using a simple financial calculator. By inputting the Loan Amount, Term and Interest Rate, one can solve for the Monthly Payment. By then inputting the Amount Financed, Term and Monthly Payment, one can solve for the APR. For example, on a $100,000 Loan Amount, a 30-year Term and a 5% Note Rate, the Monthly Payment is calculated at $536.82 (principal and interest). Assuming $2,000 in Prepaid Finance Charges, using the $98,000 Amount Financed, same 30-year Term and same Monthly Payment of $536.82, the APR is calculated at 5.178%. So, the 5.178% APR is the cost of your credit based on the $98,000 Amount Financed and the 5% Interest Rate is the actual interest rate to be paid on the Loan Amount of $100,000. By law, lenders are required to disclose both Interest Rate and APR to you.
What is a subordination agreement?
A subordination agreement is a document prepared by a second mortgage lender agreeing to remain in second position when a first mortgage is refinanced. Without such an agreement, the second mortgage holder would move into a first lien position when the existing first mortgage was paid off. The second mortgage lender usually charges a fee to process the subordination agreement, which is incurred by the borrower. Additionally, this process often increases the amount of time necessary to process a first mortgage refinance transaction, potentially jeopardizing a borrower’s lock.
What is Title Insurance?
Title insurance protects you and your mortgage lender by insuring that no individual or government entity has any right, lien, claim or encumbrance to your property. Once a title policy is issued, if any claim which is covered under the title policy is ever filed against your property, the title company will pay the legal fee involved in defense of your rights, as well as any covered loss arising from a valid claim.
How can I obtain a Free Credit Report?
The Fair and Accurate Credit Transaction Act of 2003 (FACTA) provides that every consumer is entitled to a free credit report every 12 months from each of the three national repositories: Equifax, TransUnion and Experian. Customers may obtain their personal credit report through the following website: www.annualcreditreport.com
How do I dispute an item on my credit report?
You must contact the credit agencies directly and dispute the reported item. Following is the information on how to contact the agencies:
Transunion Consumer Relations
P.O. Box 1000
Chester, PA 19022
Equifax Consumer Relations
P.O. Box 105873
Atlanta, GA 30348
Experian Consumer Relations
P.O. Box 2002
Allen, TX 75013
What is a Piggy-Back Loan?
One of our most popular programs for purchasing a home is our Piggy-Back loan program. With this financing structure, an 80% 1st Mortgage and a 10%, 15% or 20% 2nd Mortgage are closed concurrently, eliminating the need for Private Mortgage Insurance (PMI).
If I am receiving a home equity line of credit, how do I receive my funds on it?
You may take an initial draw through the loan closing or you will receive a set of credit line checks after the loan closes.
Is the interest on a home equity loan or home equity line of credit tax deductible?
In most cases, the interest paid on your home equity loan or home equity line of credit will be tax deductible up to 100% of the value of your home. There are some restrictions, so you should consult your tax advisor regarding your particular situation.
In the past 15 years, Schumacher Homes has been building custom homes around the country. Schumcher Homes has won awards for their value, design and custom home construction. With over 5,000 homes built, Shumacher Homes seems to has a high standard of home building that works. The family business, builds custom homes on your home-site. They have many plans to choose from and they can alter their plans to fit your new home needs.
Estate Collection has homes from 3,000-8,000 square feet. Schumacher homes has a revolutionary way to do their pricing for their homes. Schumacher Homes has developed an industry-leading, state-of-the-art price quote program for pricing your new home. At your No-Obligation Price Quote, They will individually itemize more than 200 standard and optional features so you know where every dollar is spent. Then you will receive a copy of the quote showing all pricing, descriptions, and pictures of your selections and your monthly payment so there are no surprises.
So now that you have fund a custom builder in the Charleston SC area, all you have to do if is find the perfect home site to build your dream home on. View all Vacant Land on Charleston SC MLS.
By: Dave & Darcy Creaturo
Desirable Park West located Mount Pleasant SC, has a solution for Baby Boomers young and old. Liberty Cottages and Somerby have something for anyone in the 55 and better age group. Being a resident of Park West, a master planned community, has something for people of all ages. With 6 miles of walking trails, tennis and swim club, planned community events and shopping within the community, you'll share a neighborhood with families in all stages of life. There is so much to do nearby, you can have an active retirement lifestyle.
Liberty Cottages are single family homes that give you the option for the space of a home but with out the headache of home ownership. All exterior and some interior maintenance is included. So you don't have to spend time cutting the grass or changing light bulbs. Liberty Cottages have a variety of health care options to make you feel safe and healthy.
Care For Life of Charleston provides home care from four to twenty-four hours a day, depending on your needs. Personal care attendants and certified nursing assistants are insured, trained and supervised by Nurse Care Managers. You also have access to nearby Somerby of Mt. Pleasant and all the services of this Continuing Care Retirement Community on an as-needed basis. You’ll have convenient access to the dining room, beauty salon and barbershop, pool, and fitness center. You can use Somerby’s laundry and linen service, housekeeping and transportation services, catering, banking office, and convenience store.
Liberty Cottages have five floor plans to choose from. All have one story living with a second floor for guests. Floor plans range between 2900-3200 total square feet of living space.
For More Information on Liberty Cottages and Somerby Assisted Living Community please contact Creaturo & Associates of Century 21 Properties Plus.
When ever I meet a client for the first time they usually have a list of questions to ask me about the Charleston, SC area. Usually the questions are... What are the best area schools ? Where is the Shopping Mall ? How do I transfer my drivers license and registration ? And the one question they are afraid to ask as they look at me sheepishly; Why is there a FROG in my house? If you do a GOOGLE search on frogs you get a lot of information on amphibians.
Frogs are a great addition to your home. The offer peace and serenity to the rest of the house. A FROG in SC Real Estate terms is a front room over the garage or also it can be a finished room over the garage. There are many different uses for FROGS. Some people like to use it as a play area for the children, an additional bedrooms, a office, game room, media room. I have noticed lately a lot of Realtors are trying to stop the confusion by sometimes calling a FROG a bonus room. FROGS come in all different sizes. I have seem some huge frogs with room enough for a sectional couch, wide screen TV, bar and a pool table and then I have been in a few you can barely stand up in. As long as the space is heated and air conditioned then it can be included in the square footage of your home. When building a new construction home a FROG is a normal addition to most floor plans. View all homes with FROGS on the Charleston SC MLS.
One way to help the environment and be green is to use product with the Energy Star seal. Energy Star is a program created by the EPA in 1992 to reduce the effects of greenhouse gas emissions by power plants. The Energy Star label can be found on appliances, heat and cooling systems, lighting, home electronics and even buildings.
Energy Star buildings use at least 15% less energy than standard homes. They usually include properly installed insulation, high performance windows, tight construction and ducts, energy efficient cooling and heating systems, and Energy Star appliances, lighting, and water heaters.
In Charleston, South Carolina there are several new home builders that build Green. Sabal Homes recently built The Abbey at Wescott Plantation, a town home community in Summerville, SC using the Earthcraft certifications. Many of Brentwood Homes neighborhood's are now being built with Earthcraft homes energy efficient standards. EarthCraft homes are healthier to live in, more comfortable and substantially more energy efficient than standard construction. There are also several custom home builders that use green building standards. One of our partners, Chris Terry owner of CIA Inspections recently went back to his roots of Home Building. Chris saw a local need for a home builder that concentrated on the needs of building green.
Creaturo and Associates of Century 21 Beachside Real Estate, has helped many families over the last fifteen years relocate to our area, and local families move up or size down. We would love an opportunity to meet you and assist you with your real estate needs.
Darcy Creaturo has been a Realtor for Eight years and mother of three. By nature, I’m a caregiver, and I believe in the personal touch. I’ve met so many wonderful people, and I’ve made so many friends since I’ve become a Realtor. I understand the stress that relocating or trying to find the right home can have on a family. My experience and compassion for my job can greatly benefit you!
Dave Creaturo moved to the area, Isle of Palms, in August of 1995 with his family. My mother, a real estate agent for 20 years, is the one responsible for leading me towards a career in real estate. The real estate side of my life began nearly 3 years ago when Darlene Creaturo (my mother) and I decided to marry her strong real estate background with my marketing and internet skills. Darcy Creaturo, A power house leader in the real estate community, has taught me the fundamentals of the business. She also makes sure I treat each client as if they were part of the family. The partnership between the three of us has been successful and enjoyable. We believe that our team offers you, the prospective client, service that is a notch better than any of our competition.
Charleston, SC is the city of history, beaches, parks, museums, great schools, wonderful malls, great sports, many universities and colleges, live entertainment, lush trees, boating and swimming activities .The Falls are spectacular!! You are only minutes from the ocean, and a few hours from the mountains. You can not find a more wholesome place to raise your family. There are so many reasons you should live in Charleston that I can not name them all. You just have to see Charleston and experience it for yourself.
We would like to be your first point of contact for your home buying process. We can help you in the initial stage by providing you with active home listings and great information on Charleston and the surrounding areas including financial, business and school resources. Then, if you are not working with an agent already, our Team can represent you and your best interests in finding and closing on the home of your dreams. We specialize in the resale market and new homes.
Obviously, it is an extremely small number. It is 76 ten-thousandths of 1 percent, that’s tiny! It is also represents the percentage of sub-prime loans compared to all outstanding loans in the United States. It is time for some perspective!
There are currently $9.9 trillion dollars in mortgage loans in the United States. Of that $9.9 trillion, there is only $75 billion in sub-prime loans or .0076%. Is this .0076% really worth all of the negative attention the media is giving it? Absolutely not!
Why is the media giving the sub-prime “melt down” so much publicity? Obviously, the numbers above are probably a bit staggering to you compared to what the media is telling us. The true reason the media is harping on the sub-prime sector is that many Fortune 100 and 500 Companies have purchased financial products as assets that have sub-prime loans within the product. In years past, there has been a large rate of return on these products. However, these companies now have to write off some of the profits they have received and that is why the media is having a field day. What about the hundreds of billions of dollars they have made on sub prime loans over the last 6 years?
The market is great and I think these numbers will put into perspective the skewed representation from the media that the industry is receiving. Rates are great and this is the perfect time to buy up!!!
Other numbers to keep in mind:
99.9924% is the percentage of home loans that are NOT sub-prime loans
97.4% of all mortgages are current and being paid on time
6.9% is the average yearly rate of appreciation of homes since 1952
30% of all homes in the United States are paid off
This information was given to me by Steve Fisher of Century 21 Beachside real estate in charleston South Carolina
That said, with all the emotion and stress that accompany nearly every sale, Our team prides ourselves on making sure we do everything we can to make the experience enjoyable for our clients. Maybe that is one reason we have a lot of repeat clients. We also specialize in representing you with your
New Construction purchase. It is very important to have representation because the Builder's salesman work for the builder.
South Carolina State law requires that you be informed of all forms of agency:
So when you decide to buy a new home in Charleston, SC, Please begin your search with a visit to Creaturo and Associates of
Century 21 Properties Plus Real Estate, we are an award winning team of Realtors. Having a buyer agent represent your best interests during the negotiation process doesn't cost you anything, and it will save you time, money and energy.
The weather was perfect with highs in the 70's. There was a pony ride, bounce houses, snow cones, and cotton candy all available. Even the Easter Bunny made an appearance.
This event was another example of how wonderful it is to live on the Isle Of Palms, South Carolina.
In Charleston SC new construction a Punch list is a list of uncompleted item the contractor must complete prior to the sale of a home. A new home buyer usually performs a walk through before going to closing. This walk through is usually with the builder or a representative of the builder. The new home owner and the builder walk through the home and make of list of items that need to be taken care of before the buyer takes possession of the home. These items usually include: paint touch up, missing screens and other minor repairs. A punch list is basically a list of tasks, or a "to-do" items.
When you buy new construction home with Creaturo and Associates, we walk you through the punch list –walk through as we do every step of the way of purchasing a new home.
Mt. Pleasant Towne Center
Buying a New Home is an excellent way to get exactly what you’re looking for. You don’t have to deal with shag carpet and outdated kitchens. You get to pick out every color, appliance and other details for your home to make it yours. The best part of buying a new home (no it’s not the new home smell) is that the builder provides a home warranty for the home. So if anything should go wrong it is usually covered. As a new home owner, you don’t have to worry about any unexpected expenses. Usually the builders warranty covers everything in the home except paint, for the first 1 to 2 years and structural deficiencies for 10 years after. The builder may have a home warranty company you contact or you may actually contact the builder for any repairs needed. It’s great when the builders are still building in your community because the can have a contractor come to your home and repair the issue immediately when they are still on site.
Each Charleston New Home Builder has a different program, so ask questions about their warranty program. In the Charleston South Carolina area the main new construction builders are Ryland Homes, KB Home, Lennar Homes, John Weiland Homes and Centex Homes. Creaturo and Associates Real Estate Team can walk you through each step of the new construction Buying process and explain how each builders home warranty coverage works.Click here For a Free Charleston SC Home Warranty