Lexington SC EconomicsBusiness InformationUpdated on Sep 4, 2009 View more like this | Visit LEXINGTON, SC | Contact Edwin Gerace, Lexington SC Realtor, Essex Homes |
Straight Talk with Edwin Gerace
Let us look at the big picture that the economy we are in is not in the shape it was in 2008. Does that mean 100% doom and gloom? No, what that means is opportunity. The federal government and local governments are looking for ways to stimulate the economy with housing being the vehicle. Right, wrong or indifferent about your political views or opinions, things are happening.
Recently in housing, some great opportunities were available to many home buyers. Many of these opportunities were time sensitive and did not have unlimited amount of funds. Were they there, yes they were. Did many people take advantage? Yes, they did and many missed the chance.
Example of missed opportunity. I do A FREE HOME BUYER SEMINAR 2-3 times a month at Lexington County Library. I explained the home buying process and the steps involved. Then I have a mortgage professional explain mortgages and the process in buying a home. A local attorney explained the closing process. At the conclusion, we explained how a home buyer that qualifies could receive up to $30,000 in FREE GRANTS AND OTHER SOURCES ( Rural Housing, Lexington County Grant, and Tax Credit) on a $100,000 home. That is 30% pure equity for buying a home now vs. waiting.
As of today (August 26, 2009) that $30,000 is down to $18,000. On December 1st that amount goes down to $10,000. I cannot predict the future of the remaining or if other sources will appear. What I can tell you is that in July, you could have received $30,000 and in December, you can only get $10,000. In an economy where money matters, I would think some people were concerned about a $20,000 loss.
What I am trying to say is, call you local real estate professional, and call your local mortgage professional and say, do I qualify for grants and local funds? If they say they do not know, you need to talk to someone else!!!!!
Let us look at the big picture that the economy we are in is not in the shape it was in 2008. Does that mean 100% doom and gloom? No, what that means is opportunity. The federal government and local governments are looking for ways to stimulate the economy with housing being the vehicle. Right, wrong or indifferent about your political views or opinions, things are happening.
Recently in housing, some great opportunities were available to many home buyers. Many of these opportunities were time sensitive and did not have unlimited amount of funds. Were they there, yes they were. Did many people take advantage? Yes, they did and many missed the chance.
Example of missed opportunity. I do A FREE HOME BUYER SEMINAR 2-3 times a month at Lexington County Library. I explained the home buying process and the steps involved. Then I have a mortgage professional explain mortgages and the process in buying a home. A local attorney explained the closing process. At the conclusion, we explained how a home buyer that qualifies could receive up to $30,000 in FREE GRANTS AND OTHER SOURCES ( Rural Housing, Lexington County Grant, and Tax Credit) on a $100,000 home. That is 30% pure equity for buying a home now vs. waiting.
As of today (August 26, 2009) that $30,000 is down to $18,000. On December 1st that amount goes down to $10,000. I cannot predict the future of the remaining or if other sources will appear. What I can tell you is that in July, you could have received $30,000 and in December, you can only get $10,000. In an economy where money matters, I would think some people were concerned about a $20,000 loss.
What I am trying to say is, call you local real estate professional, and call your local mortgage professional and say, do I qualify for grants and local funds? If they say they do not know, you need to talk to someone else!!!!!
Brighton Forest, Bronte Place, Cannon Knoll, Cardinal Pines,
Carole Square, Carolina Place, Carriage
Hill Plantation, Carriage Hill Lakes, Carrington Place, Cedarcrest, Charlestowne,
Charter Oaks, Cherokee
Crossing, Cherokee Lakes, Cherry Ridge, Church St Commons, Cinnamon
Hill, Clearwater, Brighton Forest , Bronte Place, Cannon Knoll, Cardinal Pines, Carole
Square, Carolina Place, Carriage Hill Plantation, Carriage Hill Lakes,
Carrington Place Cedarcrest, Charlestowne, Charter Oaks, Cherokee
Crossing, Cherokee Lakes, Cherry
Ridge, Church St Commons, Cinnamon Hill, Clearwater, Colony Lakes, Corley
Wood, Cornerstone, Coventry
Lakes, Coventry Woods, Creekside Farms, Creekwood, Cunningham Park, Cypress
Woods, Dove Trace, East Butler Commons, Edgerton Estates, Farming Creek, Fox
Crossing, Foxborough, Garden
Pond, Gates Commons, Gibson Forest, Gibson Terrace, Glen Lake, Golden Hills,
Golden Pond, Governors Grant, Grayland Forest, Greenside, Hallmark Shores, Hammock
Bay, Harborside, Hathorne, eartstone, Heritage Farm, Heritage Hills, Hope
Ferry Plantation, Hope Springs, Hunters Ridge, Ironstone, Irwin Estates, Karr
Court, Kellers pond, Kelsey Glen, Kenwood, Kestone Commons, Kleckley Colony,
Lakeland, Lake Frances,Land of the Lakes, Lantern Hill, Laurel Meadows,
Lexington Heights, Lexington Woods, Lexington Villas, Lexington Hills, Liberty
Hill , Longs Pond Estates, Loyd Ridge Estates, Magnolia Ridge, Mallard Hills,
Mallard Lakes, Maple Spring Farm, Mariners Cove, Mariners Creek, Maritime Place,
Martins Grove, Middlebrook, Millstream Place, Millstream Crossing, Mineral
Creek, Oak Point, Olde Saluda, Orchard Estates, Orchard Hill , Palm Court,
Palmetto Hall , Park Terrace, Parkside,
Persimmon Grove, Piedmonte Place, Pilgrim Point, Planters Station, Prescott
Glen, Regency Square, Richmond Farm, Ridge Terrace, Ridgecrest, Ridgewood,
Rolling Hills, Rollingwood, Rose Lake, Royal Creek, Royal Oaks, Saddle Horn,
Saluda River Club, Secret Cove, Shadow Ridge, Shadowbrooke, Sharon Lake, Shoal
Creek, Silvercreek, Smokerise, South Brook, Southberry Park, Spence Plantation,
Spring Knoll, Sterling Lake, Stoney Creek, Stoneybrook, Summer Knoll,
Summerfield, Summerlake Summerwalk, The Farm, The Gates of Shadowbrooke, The
Mill, Timberland Place, Tri Springs, Villages
at White Knoll, Vista Springs,
Waverly Place, Weatherstone,
Wellesley, Westbrook, Westside Terrace, Whisper Lake, White Knoll
Estates, Whiteford, Whiteford
Lakes, Whitehall, Willowbrooke,
Wilmont, Windsor Crossing, Wingate
Farms, Wise Ferry Plantation, Woodberry Forest, Woodcreek
Estates, Woodcreek, Woodland
Pond, Wrenwood, Yacht Cove
Carole Square, Carolina Place, Carriage
Hill Plantation, Carriage Hill Lakes, Carrington Place, Cedarcrest, Charlestowne,
Charter Oaks, Cherokee
Crossing, Cherokee Lakes, Cherry Ridge, Church St Commons, Cinnamon
Hill, Clearwater, Brighton Forest , Bronte Place, Cannon Knoll, Cardinal Pines, Carole
Square, Carolina Place, Carriage Hill Plantation, Carriage Hill Lakes,
Carrington Place Cedarcrest, Charlestowne, Charter Oaks, Cherokee
Crossing, Cherokee Lakes, Cherry
Ridge, Church St Commons, Cinnamon Hill, Clearwater, Colony Lakes, Corley
Wood, Cornerstone, Coventry
Lakes, Coventry Woods, Creekside Farms, Creekwood, Cunningham Park, Cypress
Woods, Dove Trace, East Butler Commons, Edgerton Estates, Farming Creek, Fox
Crossing, Foxborough, Garden
Pond, Gates Commons, Gibson Forest, Gibson Terrace, Glen Lake, Golden Hills,
Golden Pond, Governors Grant, Grayland Forest, Greenside, Hallmark Shores, Hammock
Bay, Harborside, Hathorne, eartstone, Heritage Farm, Heritage Hills, Hope
Ferry Plantation, Hope Springs, Hunters Ridge, Ironstone, Irwin Estates, Karr
Court, Kellers pond, Kelsey Glen, Kenwood, Kestone Commons, Kleckley Colony,
Lakeland, Lake Frances,Land of the Lakes, Lantern Hill, Laurel Meadows,
Lexington Heights, Lexington Woods, Lexington Villas, Lexington Hills, Liberty
Hill , Longs Pond Estates, Loyd Ridge Estates, Magnolia Ridge, Mallard Hills,
Mallard Lakes, Maple Spring Farm, Mariners Cove, Mariners Creek, Maritime Place,
Martins Grove, Middlebrook, Millstream Place, Millstream Crossing, Mineral
Creek, Oak Point, Olde Saluda, Orchard Estates, Orchard Hill , Palm Court,
Palmetto Hall , Park Terrace, Parkside,
Persimmon Grove, Piedmonte Place, Pilgrim Point, Planters Station, Prescott
Glen, Regency Square, Richmond Farm, Ridge Terrace, Ridgecrest, Ridgewood,
Rolling Hills, Rollingwood, Rose Lake, Royal Creek, Royal Oaks, Saddle Horn,
Saluda River Club, Secret Cove, Shadow Ridge, Shadowbrooke, Sharon Lake, Shoal
Creek, Silvercreek, Smokerise, South Brook, Southberry Park, Spence Plantation,
Spring Knoll, Sterling Lake, Stoney Creek, Stoneybrook, Summer Knoll,
Summerfield, Summerlake Summerwalk, The Farm, The Gates of Shadowbrooke, The
Mill, Timberland Place, Tri Springs, Villages
at White Knoll, Vista Springs,
Waverly Place, Weatherstone,
Wellesley, Westbrook, Westside Terrace, Whisper Lake, White Knoll
Estates, Whiteford, Whiteford
Lakes, Whitehall, Willowbrooke,
Wilmont, Windsor Crossing, Wingate
Farms, Wise Ferry Plantation, Woodberry Forest, Woodcreek
Estates, Woodcreek, Woodland
Pond, Wrenwood, Yacht Cove
