Affordability remains at record levels, supported by the lowest mortgage rates in decades, low home prices, and the first-time home buyer tax credit.
The home price-to-income ratio continues to remain well below the historical average of 25 percent. The ratio now stands at 14.2 percent.
Would-be buyers should consider their COST to buy and not only the PRICE of the home. While it is true that we may still not be at the bottom of the market in terms of prices, any increase in mortgage interest rates (and rates ARE under pressure to increase) could erase any potential gains from waiting to buy at the very bottom of the market.
The National Association of Hispanic Real Estate Professionals (NAHREP) published this interesting article on their blog about the role that minorities will play in helping the U.S. housing market back on its feet (click link to read article):
And the winners are...
As inventory increased in the years following the "sub-prime meltdown" and we switched from a "seller's market" to a "buyer's market", many buyers experienced MORE DIFFICULTY in making a puchase decision.
This beautiful luxury waterfront mansion at 
...Because of increased business at the PORT of CHARLESTON!
All CONDO LOANS, including those backed by the government, Fannie Mae & Freddie Mac, now require the buyers to purchase HO6 (contents/wall-in) insurance, and require the premiums to be included with the escrow reserves.
Yesterday I heard on the radio that the Obama administration is thinking about increasing their support to lenders so that they consider more short sales instead of foreclosures.
The first 2 months of 2010 have featured two major earthquakes, in Haiti and in Chile, that have caused much damage and many deaths. If the Charleston area were to experience a catastrophic earthquake, would your insurance policies provide the protection you need? Here are some answers to questions you may have. But be sure to understand that all insurance policies are not alike and you must read your policy and/or speak to your...
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?
The analysis of housing markets showed some repeats from the previous year, the magazine’s editors noted, including Texas, which had a strong showing. Quality of life and costs helped p...
GOOD NEWS FOR THE POCKET...
Yes, I know that for some people getting a snowfall is not news. But for Charleston, it is a once-in-a-decade event! And we did get 2-3 inches this weekend!.jpg "Roper St. Francis Hospital")
Work on the new Roper St. Francis Hospital being built on Highway 17 North in Carolina Park across from Charleston National is advancing fast. Completion is expected for later this year. This 200,000 sq. ft. facility built on 78 acres of land will have 85 inpatient beds, 24-hour emergency, inpatient and outpatient surgery, womens' clinic, imaging, laboratory and pharmacy.