Mount Pleasant, SC – A Thriving Community!

The Town of Mount Pleasant, SC recently published their “2011 Demographic Report” which has some interesting facts which make this town:

Growing and aging: Population has increased from 47,000 to 67,000 (42%) in the last 10 years! Population over 25 years of age has increased to 47,000 from 32,000 (46.8%)
Smaller households: # of Households has increased from 20,000 to 30,000 (50%)
Shifting Racial Diversity:

White 91.3% (up from 90.2% in 2000) African American 5.1% (down from 7.3% in 2000) Asian 1.6% (up from 1.2% in 2000) Other 0.8%

More Educated: 61.8% of the population 25 and over has a bachelor’s degree or higher, compared to 5...

SAVE BIG on REOs!!

RealtyTrac reported today that Bank-owned home buyers saved an average of 36 percent in 2010:

"More than 500,000 buyers purchased a bank-owned home in 2010, down from 750,000 REO buyers in 2009. But 2010 REO buyers got better deals than 2009 buyers - paying an average sales price that was 36 percent below the average sales price of non-foreclosure properties. That was up from an average discount of 33 percent in 2009 and 28 percent in 2008, and buyers in some states saved more than 50 percent on average in 2010..."

Check out a list of foreclosed & distressed homes

Want to save BIG? Call us today 843-416-1434.

 

 

RealtyTrack, a service that tracks foreclosures in the U.S. reported that lenders foreclosed on 1 million properties in 2010, a record number since it started tracking foreclosure activity in 2005.

That's a huge number! It means that banks are now proud owners of 1 million homes which will come back on the market this year. In Charleston and Mt Pleasant, we are already experiencing an increase in the number of lender-owned (REOs) that are being listed. There are currently more than 400 homes listed as REOs, and this number is probably much higher, as some REO agents do not label their listings correctly. 

These properties will be aggressively priced, since banks will want to offload the...

QUICK FACTS ON THE CHARLESTON REAL ESTATE MARKET

Our market was generally healthier in 2010 than in 2009. Here are some facts for the Charleston MLS area that were recently published by the Charleston-Trident Association of Realtors:

No. of Closed Transactions: 8,649 (Up 5.2% from 2009)

Median Sales Price: $188,979 (Up 3.0% from 2009)

Average Sales Price: $266,106 (Up 4.7% from 2009)

Days On Market Until Sale: 107 (Down 4.8% from 2009)

Single Family Detached: 106 days Condos/Townhomes: 146 days

Percent Achieved (Sales Price/Original List Price): 90.6% (Up 1/9% from 2009)

New Construction: 96.0% Pre-Owned Homes 88.6%  

Months of Supply at Year-End: 10.9 (Down 18....

Blog Author's Note: This article does not necessarily reflect Keller Williams' or my own point of view. But Robert brings up some key points that I thought would be interesting for would-be buyers and homeowners looking to re-finance their mortgages.

How We See It

By Robert Weaver 

Interest rates provide the key ingredient to the mortgage recipe. They determine the cost of your borrowing, how much you can borrow, and how much of your time will be consumed repaying what you borrow.  Their importance cannot be overestimated and an explanation of such would fill volumes. The vital nature of interest rates in our economy begs the question: where are they heading? 

We believe that interest...