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Charleston Real Estate Happenings Blog

Wednesday, January 22, 2020   /   by Steve Smith

How You Can Win by Downsizing Your Home in 2020!

How Buyers Can Win By Downsizing in 2020





Home values have been increasing for 93 consecutive months, according to the National Association of Realtors. If you’re a homeowner, particularly one looking to downsize your living space, that’s great news, as you’ve likely built significant equity in your home.


Here’s some more good news: mortgage rates are expected to remain low throughout 2020 at an average of 3.8% for a 30-year fixed-rate loan.


The combination of leveraging your growing equity and capitalizing on low rates could make a big difference in your housing plans this year.


How to Use Your Home Equity


For move-up buyers, the typical pattern for building financial stability and wealth through homeownership works this way: you buy a house and gain equity over several years of mortgage payments and price appreciation. You then take that equity from the sale of your house to make a down payment o ...

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  charleston real estate, charleston sc, charleston, homes for sale, real estate, condos for sale, houses for sale, town homes for sale, property management

Tuesday, January 21, 2020   /   by Steve Smith

2 Things Buyers Won't Give Up When Buying a Home!

The 2 Surprising Things Homebuyers Really Want


In a market where current inventory is low, it’s normal to think buyers might be willing to give up a few desirable features in their home search in order to make finding a house a little easier. Don’t be fooled, though – there’s still an interest in the market for some key upgrades. Here’s a look at the two surprising things buyers seem to be searching for in today’s market, and how they’re impacting new home builds.
Homebuyers Are Not Giving Up Their Garages
The National Association of Home Builders (NAHB) recently released an article showing the percentage of new single-family homes completed in 2018. The data reveals,

64% of new homes offer a 2-car garage
21% have a garage large enough to hold 3 or more cars
7% have a 1-car garage
7% do not include a garage or carport
1% have a carport

The following map represents this breakdown by region:Evidently ...

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  charleston real estate, charleston sc, charleston, homes for sale, real estate, condos for sale, houses for sale, town homes for sale, property management

Thursday, January 9, 2020   /   by Steve Smith

Charleston Ranked #1 Relocation Destination

Charleston Ranks as No. 1 Moving Location in the U.S.


According to recent data provided by Realtor.com, Charleston ranks No. 1 as the top moving destination in the U.S. In addition, in a study by U.S. News, Charleston received high scores for desirability, value, job market, quality of life and net migration. A Charleston moving location is obviously highly ranked, but specific features that the city offers make Charleston a truly desirable place to live.

Why is Charleston a Great Place to Live?


Charleston appeals to the beach lovers, history buffs, to food and hospitality lovers and to romantics alike. There is much to offer here:

Natural beauty abounds. Charleston has great beaches, parks and rivers to enjoy, with plenty of water sports.
Friendly and welcoming southern hospitality.
Lots of incredible food, including seafood and southern favorites.
Great universities.
A thriving economy, offering low unemployment and plenty of jobs in a great cross-section of indus ...

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  charleston real estate, charleston sc, charleston, homes for sale, real estate, condos for sale, houses for sale, town homes for sale, property management, rentals, www.charlestonmetrohomes.com

Monday, December 30, 2019   /   by Steve Smith

Why You shouldn't Sell Home "For Sale By Owner"

Why You Shouldn’t “For Sale By Owner”





Rising home prices coupled with the current inventory in today's market may cause some homeowners to consider selling their homes on their own (known in the industry as a For Sale By Owner). However, a FSBO might be hard to execute well for the vast majority of sellers.


Here are the top 5 reasons not to FSBO:


1. Online Strategy for Prospective Purchasers


Studies have shown that 93% of buyers search online for a home. That’s a pretty staggering number! Most real estate agents have an Internet strategy to promote the sale of your home. Do you?


2. Results Come from the Internet


According to NAR, here’s where buyers found the homes they actually purchased:





55% on the Internet






28% from a Real Estate Agent






10% Other






6% from a Yard Sign






1% from Newspapers





The days of selling your house by putting up a s ...

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  charleston real estate, charleston sc, charleston, homes for sale, real estate, condos for sale, houses for sale, town homes for sale, property management, rentals

Thursday, December 26, 2019   /   by Steve Smith

Rents Have Increased Over 25% Over The Last Seven Years!

Year-Over-Year Rental Prices on the Rise





Looking ahead, 2020 is projected to be a strong year for homeownership. According to the Freddie Mac Forecast,




“We expect rates to remain low, falling to a yearly average of 3.8% in 2020.”



If you’re currently renting, 2020 may be a great time to think about making a jump into homeownership while mortgage rates are low.


As noted in the National Rent Report,




“the national rent index increased by 1.4 percent year-over-year.”



With average rents on the rise, this year-over-year increase may not sound like much, but it can add up – fast. The math on how much extra it will cost you over time surely doesn’t lie.


Here’s an example: On a $1,500 rental payment, an increase of 1.4% adds an additional $21 dollars per month to your payment. When multiplied by the twelve months in a year, it’s a $252 overall annual increase. The p ...

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  charleston real estate, charleston sc, charleston, homes for sale, real estate, condos for sale, houses for sale, town homes for sale, property management, rentals, www.charlestonmetrohomes.com