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Buying Charleston homes at a discount

... depends on what kind of discount you are thinking of.

A buyers market means that buyers have lots of choices because there is too much inventory and more sellers are competing for fewer buyers. A buyers market does not necessarily mean that all lowball offers are gratefully accepted by all sellers.

Homes in the Charleston real estate market are generally selling for about 95% of list price. Some are certainly selling for closer to list price, others are selling for much less but 95% is the average.

The most important question you need to ask is how fairly priced is the home you are considering, in other words, what is this house really worth in today's Charleston real estate market.

If it is fairly priced, you will generally not be able to buy it at a significant discount to list price but if it is an overpriced listing, you may be able to buy it at a big discount.

I wrote about this subject a few months ago and it's just as timely today as buyers are considering at what price to make an offer on Charleston homes for sale. Please read Is good value or a big discount more important.

Published Monday, April 07, 2008 1:28 PM by Howard Arnoff

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