Home prices for sale in Charleston, South Carolina decreased significantly in 2009. On average, home values ​​in the Charleston area are 15% lower than they were in 2008. Lowest Property Values have caught the eye of local and international homebuyers looking for incredible deals at Charlestonproperties. If you’re looking to find a great deal on housing in the Charleston area, you’re not alone. Homes with the best prices in areas like Mount Pleasant and downtown Charleston are receiving multiple offers within days of listing on the MLS.

The combination of truly historic market conditions and media hype have created both risks and opportunities for today’s homebuyers. There are a few things you can do to take advantage of the market and avoid the many pitfalls.

First, do your homework. Research Charleston real estate online and find a Charleston real estate agent to show you homes and neighborhoods. Your real estate agent should understand your neighborhood and home preferences. Once you narrow your home search to your top 5 neighborhoods in Charleston, your real estate agent should provide you with recent market reports for each neighborhood, provide homeowners association documents, and send out new home listing updates.

Second, you must be pre-approved for a mortgage and have the necessary down payment. If you are still not in a position to buy, find out why and fix the problems. If you have a home to sell soon, you can take advantage of today’s buyer’s market, selling your home should be your first priority. Sell ​​stocks and other assets that will need to be liquidated in order to have the funds ready to buy a home.

Third, you must have realistic expectations. If you want to find a great deal on a home in Charleston, you have to be willing to do some minor repairs and updates. Foreclosures or bank properties in Charleston often require the new owners to make substantial repairs after closing. If you are buying a “short sale” in Charleston, plan to close at least 90 days after the contract is ratified. Banks negotiate, approve, and sometimes reject real estate contracts to purchase both bank-owned and short-sale properties. Again, your real estate agent will be able to estimate when your closing should take place.

Lastly, don’t be discouraged. Even if your offer is the first on a home, sellers may receive more favorable offers from other buyers and reject yours. It is often necessary to submit offers to purchase multiple homes for sale in Charleston to get a good deal. Some of the best deals in the Charleston real estate market are short sales that, for various reasons, do not sell to the first buyer with a ratified contract.