Showing posts with label Real Estate. Show all posts
Showing posts with label Real Estate. Show all posts

Friday, November 11, 2011

Carolina Walk

Carolina Walk is a high-rise condominium complex located near Williams Brice Stadium (in Columbia SC) at the corner of South Stadium Road and Bluff Road. South Stadium Road is an extension of George Rogers Blvd. and is located directly across from the University of South Carolina “Gamecocks” football stadium between “The University House” and the “Columbia SC Farmers Market”. Carolina Walk Condominiums also neighbors and overlooks Carolina Walk Park, which is a tailgate parking area for USC home football games.
Carolina Walk is appealing to gamecock fans because of the limited availability of tailgating areas and parking for USC Gamecock home games. It also helps that it is close to the university and has outlets around the city. Since the USC campus spreads out, rather than being contained in one location, it’s common for biking, walking, and bus riding to different classroom buildings. Even on-campus housing can result in a short hike to class. Therefore, it makes for an ideal situation for investors that can use it for recreational, educational, and professional use. Many investors buy condos near Williams Brice stadium for student housing with the intention to use the unit for USC football home games. The popularity of South Carolina football is ever-growing and one of the most popular organizations in the nation. This not only helps with recruitment and public relations for the university… but also helps maintain quality academics, state of the art facilities and scholarship donations. As a result the football program indirectly contributes to a large portion of real estate transactions every year.

Thursday, November 10, 2011

Gamecock Tailgating

Gamecock Football Tailgating facilities have become an interesting part of the Columbia SC real estate market. The tailgating condos and parking spaces have become valuable during football season at Williams Brice Stadium. Within the past 5-10 years this phenomenon has changed the way that Gamecock fans perceive tailgating.
Not too long ago you could pay $5 to park in a private parking lot and walk right into the Carolina football game. Nowadays you’ve really “got to know someone” that owns or has use of a USC Gamecock football tailgating space. There are multiple condos and parking lots that highlight the "George Rogers Blvd." corridor between the industrialized Bluff and Shop Roads.
Since this area around Williams Brice Stadium isn’t classified by a neighborhood name, subdivision, or specific part of Columbia, we’ve decided to establish an ongoing study to simplify your search for Gamecock football tailgating. We want a provide a presentation to new real estate investors that may be new to the area and would like an overview. So we’ve created a USC Gamecock Tailgating page that may help answer many of your questions. Each of the facilities take several hours of time to create so please be patient while we build our database. However, we have a basic search of Real Estate for The University of South Carolina Football section with a full list of active listings. If you are looking for a specific Condominium Complex or Tailgate Parking Lot, feel free to make a request by commenting below or tell us about an area we’ve missed. We have already instated The Stadium Village Lofts, Carolina Walk, and Carolina Walk Park and our plans are to cover the entire area.

Wednesday, November 9, 2011

USDA Rural Housing Eligibility in South Carolina

With all of the loan programs and the tough real estate economy that faces us, it is no doubt that buyers are now looking deeper into financing options. FHA Loans, VA Loans and South Carolina State Housing loans are taking over as a staple in financing. Even though these loan programs are slightly different than conventional home loans, sellers are willing to do what they must to fit into these programs.

One of the newest programs is the USDA Rural Housing program in which select properties are eligible for 100% financing. If you are taking this program into consideration you will need to search for a home that qualifies for this program. As always, speak to your lender for specific requirements and get approval before you even start looking for a home. Once you know the qualifications you can search the USDA website (by address or map) to see if the property falls within eligibility boundaries.

If you are a mortgage broker and service these loans you may comment below and leave your information for everyone that reads this Columbia SC Real Estate blog.

Here is a link to cross reference and search for properties for sale in Columbia SC

Tuesday, November 8, 2011

Where to Buy Historic Homes in SC

Owning a true piece of American history has many advantages. If you are looking to buy a historical home in South Carolina you have probably already considered the advantages of owning a historic home. The feeling of owning a home that has played a part in piecing together the American dream is very rewarding. The term "real estate" seems to have been overshadowed by massive new home developments and capitalism. But as veteran South Carolina real estate agents, we understand that history is an intricate part of our southern culture and preservation of historic residences are often disregarded as "tear down and rebuild projects".

South Carolina is likely the most overlooked location for historic home ownership. Maybe because it's so common for us to see them scattered throughout our landscape. You can travel up and down the SC coast and you'll find large southern plantations in parts of the Lowcountry hidden behind moss covered live oak trees. If you're a little hesitant about buying rural property in South Carolina you can easily find hundreds of Historic Homes for sale in Charleston on the market today. In Charleston, you can pretty much get whatever you are looking for. If you want to be in a historical waterfront home in the City of Charleston...it's pretty common to be available. Chances are that you are likely to run across home in need of repair or a caretaker to maintain everyday upkeep.

But don't think Charleston is the only place to find historic homes for sale in South Carolina. Columbia is only an hour and a half away from the Blue Ridge Mountains on one side and the Atlantic Ocean on the other and has a huge historic presence and a modest equestrian community. Camden SC, deemed the oldest inland SC city and the home to the distinctive "Carolina Cup Steeplechase", is a popular suburb of Columbia. Here you will find lots of acreage for sale or equestrian farms for sale with historic homes on the premises. If you're looking to be a little more urban and the historic plantation homes in Camden aren't in your vision, you should revert back to Columbia.

Historically, Columbia was known as a "Mill Town" and the city itself is located in one of the most transportation friendly areas in the south. Rivers, railroads, and interstates have always played a major factor of successful historical commerce... as it does today. There were several active textile mills in the area. Mills needed workers, workers needed homes, and homes needed neighborhoods close to work. This idea created the best neighborhoods in Columbia for mill workers. The City of Columbia also prospered around the South Carolina State Capitol building and suggested the need for luxury mansions and historic homes in the city. Nowadays, historic homes for sale in Columbia are likely to be concealed by a lawyer's office sign in the window. Most of these homes have been preserved, but the use has changed from residential to commercial use. In any case, there is a presence and a need of historic home preservation in Columbia.

South Carolina real estate has remained relevant throughout the years of economic turmoil. Historic properties tend to be among the top of the market in value. There are historical societies that are structured to help maintain the balance of new home construction and historic preservation in South Carolina.

Sunday, November 6, 2011

Why Restrictive Covenants?

As a real estate agent in Columbia, SC with over a decade of experience in land sales, I have learned how to avoid most of the issues that arise at the closing table prior to making an offer to purchase. When buying land or acreage, you need to be informed of what you are getting into and how your property may be used in the future. It is common to have an unforeseen problem arise, but here are a few tips that may get you on the right track and questions to ask your real estate agent.

The first question that you should always ask when purchasing real estate is, "Are there restrictive covenants that run with the property?" Restrictive covenants, commonly referred to as restrictions or covenants, should be discovered in a title search. Always ask for a copy of these when you have decided to make an offer on a property. If you cannot collect a copy prior to making your offer to purchase, consider having a contingency written into the offer to review these before you are locked into your purchase. Many contracts have an inspection period, make sure that you are covered in this section. If not, create an addendum requesting a time frame to review them. Restrictions are typically recorded at the county court house and are placed on a property to protect you as a homeowner. I use the word "protect" loosely because sometimes it will prohibit you from creating or maintaining a space that you desire. Common restrictive covenants found in my area are:

  • Setbacks of "X" feet from road and side lines- this is the area from which your foundation or porches will begin. Make sure that you have a site plan(provided by a surveyor) prior to construction and that your builder is aware of the distance. Usually there are sideline setbacks also. Beware of these when making an addition to your home or pouring your driveway.
  • No removal of trees that are "X" inches in diameter-I've seen people fined heavily for this and job site's shut down. The intent is to keep mature growth in a neighborhood and preserve historic landscapes. If there are none in your covenants, you may want to check with the city and county too. In Blythewood SC, a landowner cut all of the trees on their property and was fined by the town.
  • No manufactured or mobile homes- Pretty self-explanatory but there is usually additional conditions that must be considered. Typically the tongue (the trailer hitch), axle, and wheels must be removed and the curtain wall must be installed. A curtain wall is the perimeter of the home below the structure. Masonry is becoming a standard in our area.
  • No Modular homes - Yes, there is a huge difference between Modular and Manufactured /Mobile Homes. Similarly, Modular homes are built in a controlled environment but are built to conform to traditional site built homes and usually can not tell the difference if you are driving through a neighborhood.
  • No unlicensed or inoperative vehicles- If you collect 'hot rods' or a 'shade tree mechanic' beware of this. The intent is to keep junk cars out of your subdivision.
  • One home per tract- Even on acreage. This may prohibit you from moving family members onto your property or building an in-law apartment.
  • No subdividing the property- Commonly used when a developer wants to keep large tracts in tact.
  • Architectural approval review prior to construction- Make sure that you seek out the neighborhood association ARB (Architectural Review Board) before you even think about closing the property. The last thing that you want is a mortgage payment on a home that you don't love. Again, have a contingency in your offer for your plans to be reviewed.
  • Domestic animals allowed but not exceed "X" dogs "Y" cats - This very well may become a factor for pet owners. Some pets aren't welcome into a traditional neighborhood. If you have over 2 pets read into this and make sure you are safe to bring your animals.
  • No above ground swimming pools- Summer is hot in South Carolina. This may be an issue in the future if you spend time outdoors.

Usually a percentage of landowners, or the developer can amend these restrictions. Most of the time you will find that restrictions renew after a given number of years. Keep in mind that laws change over the years and that the restrictive covenants must follow all local, county, city, state, and federal laws and must NOT violate RESPA laws.

Brian Hunt is a Columbia, South Carolina real estate broker specializing in residential land and homes in the Blythewood, SC and the Columbia, SC real estate markets.