Our client Jerry Garner from TowneBank Mortgage sent us a copy of this article that we found very interesting.
As a seller, you will be most concerned with the ‘short term price’ – where home values are headed over the next six months. As a buyer, you must be concerned not with price but instead with the ‘long term cost’ of the home.
Many economists have pointed to Brexit (Britain’s exit from the European Union) as a reason that interest rates will remain low for the next few months. But Trulia’s Chief Economist Ralph McLaughlin warns that this will not always be the case in a recent post:
“While the departure of the UK from the European Union has driven down the 10-year bond, and thus mortgage rates, we expect...
Let's face it: The real estate market in the Charleston, SC area has changed substantially! Three years ago it had abundant listings, double-digit absorption rates and very eager sellers. Interest rates were low and going nowhere, and there was little urgency. Home prices were declining and buyers could take their time finding the right home, negotiating the right price and waiting for the market to touch bottom. .jpg "Percentages by SalFalko via Flickr")