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Charleston real estate blog reader buys a home

Charleston real estate blogLongtime Charleston real estate blog reader Jimmy (not his real name but his screen alias) closed on the sale of a home yesterday. I've had several clients who told me that they decided to hire me as their Charleston Realtor because they enjoyed meeting me through my blog but Jimmy was the rare exception who frequently commented on the blog.

Jimmy was very concerned about current Charleston housing market conditions and was very cautious about buying a home. He wanted to take his time and get a good deal. I would suggest that he did even better than that and that he got a great deal, 24% less than the sales price when the home previously sold at the top of the market in spring 2007 and 10% less than the current list price.

Best of all, it is a very nice home. Congratulations Jimmy, thanks very much and keep in touch, your thoughtful comments have always been appreciated. 

UPDATE: A reader inquired in an email if this was a foreclosure or a short sale, actually, it was neither, simply a motivated seller who wanted to sell.

Published Friday, February 26, 2010 7:26 AM by Howard Arnoff

Comments

# re: Charleston real estate blog reader buys a home

I still think I paid too much (highest sqft for recent close, but lowest price house in the neighborhood). wink :P

Saturday, February 27, 2010 9:17 AM by Jimmy

# re: Charleston real estate blog reader buys a home

Jimmy, wink :P, all buyers think they paid too much, all sellers think they could have sold for more, it's basic human nature.

But most of all, I hope you enjoy living there and that you came close to buying near the bottom of the market and that home prices go up from here.

Saturday, February 27, 2010 1:09 PM by Howard Arnoff

# re: Charleston real estate blog reader buys a home

UPDATE: Another smaller home just sold in the neighborhood and it sold for quite a higher price per square foot and at a higher selling price than Jimmy's home.

Dollars per square foot is only one way to measure home values and generally, a smaller home will have a higher price per square foot.

But it's always good to buy a less expensive home in a neighborhood and let higher home prices bring your home up rather than buying the most expensive home in a neighborhood.

Monday, March 01, 2010 7:27 AM by Howard Arnoff
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