It begins!

Boeing will be breaking ground today on their brand new $750 Million 787 plant.  This represents the biggest industrial investment ever in South Carolina and an economic boost to the Charleston area that is difficult to fully comprehend!
As part of their deal with the state, Boeing will be creating about 3800 jobs within seven years and the company has already received 840 orders from brand new 787 jets.

The post and courier has some in depth reporting here.

North Charleston has been chosen by Boeing, the leading aircraft builder in the US, as the site for a brand new construction plant for it’s 787 Dreamliners.

Earlier this year, the company purchased a North Charleston plant operated by Vought Aircraft.  Vought was building the aft section of the 787 fuselages.  Boeing seems to like South Carolina’s freedom from unions and the state made them a tax incentive offer that they couldn’t refuse.

What does this mean for Charleston?  It’s actually difficult to put into words.  To fully qualify for those tax incentives, Boeing will have to create at least 3800 full time jobs within 7 years.  That would make the company one of the top employers in the area and take a massive bite out of the area’s currently high unemployment rates.

A few years back, BMW opened a production plant in Greenville, SC and that literally transformed the area.  I see this is a seriously major impact for North Charleston area home values.  That kind of influx of people and money to an area of this size is truly mind boggling…

Stay tuned for more info about this.  This really big..
Check out the Charleston Regional Biz Journal for more info

Our official launch is getting some local headlines!

It started with our favorite local news source, The Digitel on Wed.

Then today, the area’s largest circulating newspaper, the Post and Courier, mentioned our launch in the second half of this article.

We’re excited about the exposure and happy these local news sources are helping to get the word out about our company.  We want everybody to know (buyers, sellers and good agents) that there are choices out there!

When we last left off, our hopeful buyers were eagerly awaiting word from the bank on the approval or disapproval of their request to purchase a home for less then what’s owed that bank.
Not a whole lot has changed since then except for a few key points of progress.
A couple of weeks ago we received word from our short sale negotiator that both banks (the first and second mortgage holders) had received all the required paperwork and had assigned the cases to the case workers.
The bank holding the second mortgage is kind of in “wait and see mode” because they really don’t know how much money they will be getting until the first bank decides what they would be willing to settle for.
So the first mortgage bank ordered a “BPO.”  That stands for Broker Price Opinion.  Banks hire independent real estate agents, unaffiliated with the transaction in question to give them an honest fair market value opinion of the house.  This is a very important step in the process since banks don’t know the ins and outs of local markets.  What would a bank in NY know about the Isle of Palms?
The bank officially has up to 30 days now that the BPO has been ordered to make a decision.  Our hearts are officially pounding.  In a matter of days we’ll know a critical answer from the main mortgage holder.  We’ll either pass the good news onto the second lien holder and prepare for a quick closing OR we’ll be back to the drawing board.

Keep your fingers crossed for us…

What is a short sale?

How do they work?

Can you get a really good deal?

Is it bad for the sellers credit?

I get asked questions like this every day.

Everyone seems to be interested in them but because of their inherent shroud of mystery, many people try to steer clear.