Relocating to South Carolina might turn out to be an attractive proposition, after all. The median price asked for a housing unit in South Carolina is currently $81,300, whereas the national average is a 10 percent-higher $89,600. The ongoing South Carolina foreclosures number over 2,000 every month, the state has several seized homes at amazing discounts to offer to aspiring homebuyers.
Let’s consider a snapshot of the South Carolina real estate market. There are at present 5,271 foreclosed houses for sale at the inviting median listed price of $60,000. Additionally, there are an astounding 49,313 other MLS and FSBO houses scheduled for auction in the coming weeks in South Carolina. These carry a median asking price of $198,900. This vividly illustrates that the seized homes appear to be selling at rates that are about 30 percent of the other houses, whose prices are determined by market forces. Even shorn of the comparative context, the figure of $60,000 for a full-fledged house would represent quite the buyer’s fantasy of a dream market. It is no wonder that the foreclosure auctions are inviting a frenzied surge of buyers eager to identify and claim their respective pet homes from among the seized houses on auction.
Buyers Surge to Foreclosure Auctions
The foreclosure auctions in South Carolina are witnessing intense competition from buyers. The inviting price of the seized homes only partly explains this great influx by buyers. The reputed nature of the auctioneering agency – such as the VA, HUD, Freddie Mac, Fannie Mae or banks — inspires the buyers’ trust. Moreover, the auction procedures are simple, transparent and just. Furthermore, there is ample home finance easily available from umpteen mortgage companies in the fray for their share of the real estate pie as well.
However, before you invest your money in a property transaction, you ought to hire an expert real estate agent. An agent is likely to be well versed about the local South Carolina foreclosures terrain as well as in the macro developments occurring in the economy. A seasoned agent is the best guarantee that you make a lucrative investment at the real estate listings auctions.
Follow us:
Written by Alex Rolim.
