If you need assistance, please call 843-278-1600

  • Houses For Sale | Charleston Real Estate Happenings Blog

    Monday, July 19, 2021   /   by Steve Smith

    What YOU Should Do Before Interest Rates Increase!

    What You Should Do Before Interest Rates Rise


    In today’s real estate market, mortgage interest rates are near record lows. If you’ve been in your current home for several years and haven’t refinanced lately, there’s a good chance you have a mortgage with an interest rate higher than today’s average. Here are some options you should consider if you want to take advantage of today’s current low rates before they rise.
    Sell and Move Up (or Downsize)
    Many of today’s homeowners are rethinking what they need in a home and redefining what their dream home means. For some, continued remote work is bringing about the need for additional space. For others, moving to a lower cost-of-living area or downsizing may be great options. If you’re considering either of these, there may not be a better time to move. Here’s why.
    The chart below shows average mortgage rates by decade compared to where they are today:. ...

    Read More


      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

    Wednesday, July 14, 2021   /   by Steve Smith

    Charleston Homes For Sale Inventory Increases in June for 1st Time in a Year!

    Housing Supply Is Rising. What Does That Mean for You?


    An important factor in today’s market is the number of homes for sale. While inventory levels continue to sit near historic lows, there are indications we may have hit the lowest point we’ll see. Odeta Kushi, Deputy Chief Economist at First American, recently said of our supply challenges:

    “It looks like inventory may have hit a bottom (we’ve seen this in the higher frequency data as well). Unsold inventory in May was at 2.5 months supply, up from 2.4.”
    To put it into perspective, the graph below shows levels of inventory rising since the beginning of the year:We’re still not close to a balanced market, which would be a 6 months’ supply of homes for sale. However, we are seeing a slow but steady increase in homes coming up for sale. And that leaves many buyers and sellers wondering the same thing: what does that mean for me?
    B ...

    Read More


      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

    Thursday, May 6, 2021   /   by Steve Smith

    Why Waiting To Buy a Home Will Cost You a Bundle!

    Why Waiting to Buy a Home Could Cost You a Small Fortune


    Many people are sitting on the fence trying to decide if now’s the time to buy a home. Some are renters who have a strong desire to become homeowners but are unsure if buying right now makes sense. Others may be homeowners who are realizing that their current home no longer fits their changing needs.

    To determine if they should buy now or wait another year, they both need to ask two simple questions:


    Do I think home values will be higher a year from now?



    Do I think mortgage rates will be higher a year from now?


    Let’s shed some light on the answers to these questions.
    Where will home prices be a year from now?
    If you average the most recent projections from the major industry forecasters, the expectation is home prices will increase by 7.7%. Let’s take a house that’s valued today at $325,000 as an example.
    If the buyer makes a 10% down payment ($32,500), they&rsquo ...

    Read More


      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

    Wednesday, May 5, 2021   /   by Steve Smith

    Will Mortgage Interest Rates Rise Over The Next Year?

    Are Interest Rates Expected to Rise Over the Next Year?



    “In 2021, I think rates will be similar or modestly higher . . . mortgage rates will continue to be historically favorable.”

    So far this year, mortgage rates continue to hover around 3%, encouraging many hopeful homebuyers to enter the housing market. However, there’s a good chance rates will increase later this year and going into 2022, ultimately making it more expensive to borrow money for a home loan. Here’s a look at what several experts have to say.
    Danielle Hale, Chief Economist, realtor.com:

    “Our long-term view for mortgage rates in 2021 is higher. As the economic outlook strengthens, thanks to progress against coronavirus and vaccines plus a dose of stimulus from the government, this pushes up expectations for economic growth . . . .”
    Lawrence Yun, Chief Economist, National Association of Realtors (NAR):
    Freddie Mac:

    “We foreca ...

    Read More


      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

    Tuesday, May 4, 2021   /   by Steve Smith

    Home Prices Are Projected To Increase More in 2021!

    Is Home Price Appreciation Accelerating Again?


    At the beginning of the year, industry forecasts called for home price appreciation to slow to about half of the double-digit increase we saw last year. The thinking was that inventory would increase from record-low levels and put an end to the bidding wars that have driven home prices up over the past twelve months. However, that increase in inventory has yet to materialize. The National Association of Realtors (NAR) reports that there are currently 410,000 fewer single-family homes available for sale than there were at this time last year.

    This has forced those who made appreciation forecasts this past January to amend those projections. The Mortgage Bankers Association, Fannie Mae, Freddie Mac, the National Association of Realtors, and Zelman & Associates have all adjusted their numbers upward after reviewing first quarter housing data. Here are their orig ...

    Read More


      charleston real estate, charleston sc, charleston, homes for sale, real estate, condos for sale, houses for sale