Greater Columbia, Chapin, Irmo, Lexington and Lake Murray.

Saturday, September 29, 2012

New Financial Management Tool - CREDIT SESAME

It's NEW and FREE!

I just read about this new online financial management tool.  I thought it's good enough that I signed up myself.  The goal of Credit Sesame is to help people take control of their credit and possibly save money with better and smarter loans.

The website requests your name, address and a small amount of other personal data on the secure website, but, it provides a one-stop source of valuable information.  You get: a (free) credit score from Experian, credit balances, including mortgage, options for other/better loans, a tracking of your home value and your credit standing compared to peers.  It's cool stuff!

CLICK HERE to sign up!

Mel Coker
Columbia, SC Real Estate

Wednesday, September 26, 2012

I Need Some Facebook Love

I Need Some Facebook LOVE LIKES!
Please LIKE my Facebook Page.

My COLUMBIA & LAKE MURRAY REAL ESTATE page on Facebook is relatively new, so I need some "LIKES" to get a higher standing with Facebook.  Please consider taking a moment to link over to my page and clicking on LIKE to help me out.  THANK YOU!

Several people will be selected by random drawing among those "LIKING" my page between September 25th and October 31st (2012) to win a Chic-Fil-A gift card.

CLICK: Mel Coker's Real Estate Facebook Page

Mel Coker
Columbia's Technology Realtor!
RE/MAX Metro Associates

Tuesday, September 18, 2012

Happy 65th Birthday to The United States Air Force

Today, September 18th, is the 65th Birthday of the United States Air Force.

I salute all who have worn the uniform of the USAF.

CLICK HERE to watch the video "Celebrating 65 Years of Air Force Heritage"

Air Force Bases in South Carolina:

Shaw Air Force Base
McEntire Joint National Guard Base
Joint Base Charleston

Monday, September 10, 2012

ObamaCare Impacts Real Estate

FACTS on the New 3.8% Tax - Read this article!
ObamaCare impact on real estate transactions. (maybe)

THE FALSEHOOD:  I have received a number of emails that are forwarded to me and many others with erroneous information about how ObamaCare is going to place a tax to Sellers on ALL real estate transactions closed after January 1, 2013.  Essentially these ERRONEOUS EMAILS state that, for example, on a $100,000 sales transaction, the SELLER must pay a new tax of 3.8% or $3800 to the federal government.
i.e. - in an email I received today:
"Did you know that if you sell your house after 2012 you will pay a 3.8% sales tax on it?   Under the new health care bill all real estate transactions will be subject to a 3.8% sales tax."    THIS IS FALSE!

In my opinion, ObamaCare is a very bad thing.  It's bad legislation by an out-of-touch President and Congress (especially a currently Democratic controlled Senate).  

Beginning January 1, 2013, a NEW 3.8 percent tax on some investment income will take effect.   This tax WILL NOT be imposed on all real estate transactions, a common misconception. Rather, when the legislation becomes effective in 2013, it may impose a 3.8% tax on some (but not all) income from interest, dividends, rents (less expenses) and capital gains (less capital losses). The tax will fall only on individuals with an adjusted gross income (AGI) above $200,000 and couples filing a joint return with more than $250,000 AGI.   Additionally, the new tax does NOT eliminate the benefits of the $250,000/$500,000 exclusion on the sale of a principal residence. Thus, ONLY that portion of a gain above those thresholds is included in AGI and could be subject to the tax.

LINK:  3.8% Tax on Certain Real Estate Transactions - Brochure by National Association of Realtors

This new tax was passed by Congress in 2010 with the intent of generating an estimated $210 billion to help fund President Barack Obama’s health care.    Of course, there are other wild taxes and even a raid on Medicare to fund Obama's health care. 
Your vote this November is critical to America's future.  Please know the issues and VOTE.
Mel Coker
Columbia, SC Realtor
RE/MAX Metro Associates

Wednesday, September 5, 2012

Real Estate Frustration? Selling Problems or Value Problems

What is one significant cause of the housing crisis?   Read on...
I deal with many prospects, clients or potential prospects still facing problems with either (or both) selling their home or a significant drop in their home valuation.   The same thing has happened in the Greater Columbia area and even to my home value (fortunately, not as significant home value decrease as in many parts of the country).  While I don't need to sell or want to sell, certainly my home value is down today as compared to the value in 2006-2007.

What was a big cause of the real estate/housing meltdown?   Significantly loosened credit requirements....  so that people getting approved for  loans to buy whereas in the past would never get a loan based on their ability or willingness to repay (i.e. subprime mortgages).   Result?    Dramatically higher foreclosures and short sales.  Another result?   Significantly higher inventory of homes for sale.  Another result?  Lower home prices and much higher average time to sell a home.   (Remember that old economic principle:  Supply and Demand)

Read this: 
Just yesterday, The Daily Caller website revealed some previously unpublished court information about a landmark case that many consider the fuse that set off the subprime mortgage boom and eventually, the economic meltdown. It was a 1995 discrimination lawsuit against Citibank, on behalf of a group of African-Americans who claimed they couldn’t get loans because of their race. It was part of a coordinated effort at the time by progressive groups. The banks didn’t want to be sued or accused of racism, so they loosened requirements for credit history and down payments (they just gave in). What the Daily Caller discovered is that among the original plaintiffs in that case, there was a startling loan failure rate. Out of about 186 homebuyers, roughly half have since gone bankrupt or received one or more foreclosure notices. As few as 19 still own homes with clean credit ratings. Even some of the plaintiffs now say the banks never should’ve made those loans.
And here’s the kicker: the lead attorney on that case that prompted banks to start making home loans to people who couldn’t qualify for them was a young Chicago community activist named Barack Obama.


Columbia, SC Relocation

Relocating to the Greater Columbia area?
Mel Coker knows Columbia real estate... and, Lake Murray, Irmo, Chapin, Lexington, Northeast Columbia, Elgin and West Columbia.

Mel is a Professional Realtor (CRS, ABR, GRI, SRES and e-Pro Designations) and life-long Columbia resident.

Contact: Mel Coker
RE/MAX Metro Associates
(803) 223-6214
Columbia Real Estate
Columbia Information
Lake Murray Information

Tuesday, September 4, 2012

500 Columbia, SC Real Estate Closings

Coming Soon: Mel Coker's 500th Real Estate Closing
Very soon, I will have my 500th Columbia (S.C.) real estate closing.
That's 500 closings since 1998 covering Columbia, Northeast Columbia, Lexington, West Columbia, Cayce, Irmo, Chapin, Prosperity, Saluda, Elgin and Lake Murray.  I've enjoyed helping many families and individuals buy and sell in the Greater Columbia area.  And, I'm looking forward to an improving economy and helping many more clients buy, sell and relocate.

My 500 closings represent an average of over 33 closings per year and a total sales volume in excess of $83 Million.  During these 15 years, I have only worked at two Columbia real estate firms.  For the past 11 1/2 years, I have been associated with the world leader in Real Estate sales - RE/MAX.  In 2006, I was inducted into the RE/MAX Hall of Fame for sales volume leadership.

My 500th real estate closing client will receive a special gift package in recognition of this special milestone.  Will it be you?    When you're ready to BUY or SELL in Greater Columbia, contact Mel Coker.

Mel Coker
RE/MAX Metro Associates
Columbia Real Estate Website
Columbia MLS Search
(803) 223-6214 office
Mel Coker's email