Residents on my list in King’s Grant neighborhood recently received another postcard announcing that Elizabeth Ross and I closed 75 Foot Point Rd. The house closed for $1,056,000 which is upwards of $300./ft. The reason most folks don’t know about this is because our local MLS rules don’t make it easy to find, as you have to type the address specifically. If anyone is doing a simple Comparative Market Analysis, it will not make the list. That said, many REALTORS and/or appraisers don’t know about it. Nonetheless, the residents in the neighborhood who have been informed are stoked!
Fast forward to this week.
The house in the top image above is 30 Foot Point Rd. We represented the purchaser on the closing of this 8,700+/- three-story beauty. As many of you know, when Jen, the kids, and I moved into our current Lowcountry-style home, I became a sucker for a big front porch. As you can see, 30 Foot Point checks that box, and how…
30 Foot Point pretty much has it all, including a full-size elevator and the opportunity to garage six vehicles if that helps paint the picture.
While that transaction was awesome for everyone, because of its more common size, many homeowners in King’s Grant, and some surrounding neighborhoods, will be getting their phones and calculators out on the house in the 2nd image above. 1 Tombee Place sits on the corner of Tombee Place and North Tombee. Representing the seller, we closed for $1,200,000. The house is 4,137+/- square feet. This is $290/ft, respectively.
Now, is “price per foot” the end all be all when it comes to the value of a home? Absolutely not. Does this mean everyone can get $290 or $300/ft. for their property in King’s Grant Neighborhood today? Nope.
That said, I can pretty much tell you whether you have a shot or not. Hear this, too. I can tell you if you have a shot at getting more.
If you’ve read this blog before, you may have come across a post or two where I explain that I’m not afraid to “go for it.” After all, how can a neighborhood rise in value if, for a myriad of reasons, a seller (and their REALTOR) doesn’t try to move the needle? Now that these sales have been thrown in the hopper, everyone in King’s Grant (and perhaps other neighborhoods like Gregg Park, The Hamptons, The Preserve, et al, depending on which appraiser is assigned), will have these to use as comparable sales for a good while (As a point of information, all of the homes mentioned in this blog post are very sharp, clean, and replete with updates).
Please hear this, too. If you are going to “go for it,” hiring a hyper-local REALTOR is, more often than not, vital. Hiring a local REALTOR and lender/loan officer is a real thing. I honestly think that if either of the buyers in either transaction used one of the national lenders you see on TV, neither of the transactions would have happened. Shout out to Sarah Baldwin @ First Reliance Bank on 30 Foot Point!
Lemme tell ya…I was probably told five times that I wouldn’t be able to pull 30 Foot Point over the closing line. I heard variations of, “You can’t sell 1 Tombee for that much money. Even if you get that number, how are you going to get it to appraise?”
Well, it went under contract, appraised, and closed.
If you or anyone you know is pondering their real estate plans for 2024 or 2025 please let me know. National stats and news outlets may not be reporting great stories but people are still moving to South Carolina, and Columbia, SC is more affordable than Charleston and Greenville. If your answer is, “Franklin, I’d love to cash out and go to the bank, too, but where would we go?” Answer: “Every buyer and seller is different, and the ‘where would we go,’ is part of my job. If you want to see what that big fun trip to the bank could look like, it’s worth a casual conversation to at least discuss options.”
Don’t be afraid to at least have a chat about ‘going for it!’ You might change your life in a way that you never knew was there! See above for Exhibit A! 🙂
Thank you!
Franklin Jones
803-447-8683Â –Â Franklin@TheNeighborhoodRE.comÂ
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