With all the doom and gloom in the real estate market these days, it’s time for the Alston Court Neighborhood Update. It may make you feel better, it may confirm your worst nightmare… It really just depends on who you are.
How is the market doing? Well, if you’re in the market to buy or move up, things are GREAT! The government is offering an $8000 tax credit to first time home buyers (anyone who has not owned a house in the last three years and closes between January 1, 2009 and November 30, 2009); home prices are continuing to fall, making these the most affordable prices for Americans since 1971 when NAR started tracking the statistic; and the selection is the best it’s ever going to be.
But what if you’re a home owner? In Alston Court that means your value since last year has dropped from $131 per square foot to about $113 per square foot. Not a pretty picture. The good news is that Crowfield Plantation is one of the most desirable neighborhoods in Goose Creek (if not the most desirable) and Alston Court is the most affordable neighborhood in Crowfield Plantation. So you may have to take a hit if you decide to sell, but your buyers are first time home buyers. They are out there and your house WILL sell.
In the last three months two houses have sold in Alston court and there is one house under contract. The two houses that have sold are 103 Severn St. for $123,000 and 118 Shropshire St. for $129,000. Both those houses were on the market AWHILE before they finally sold, but they did sell. Others that were on the market have been rented out orthe home owners have decided to stay put. Those two sales put the average price per square foot in Alston Court at $113.
The house under contract right now is 134 Alston Circle, which started out at $148,423 last fall and dropped to $129,500 in January. That price makes the house $110 per square foot, which is right in line with the average for the neighborhood.
If you’d like to know more about the real estate trends in Alston Court, or if you have questions about the stimulus package and how it can benefit you, OR if you’d just sort of like to know what your house is worth right now, please give me a call. I’m always happy to help. My direct number is 843.574.3193.
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