Mortgage rates have been increasing lately. It can be very frustrating as a prospective home buyer, but there is good reason for it. This blog post explains why interest rates are increasing, who is responsible for causing these rates to increase and why it isn't the worst thing ever (albeit frustrating). While rates were bumped a couple of times at the end of 2016, we're expecting them to be raised more than once in 2017. If you're worried that these rising interest rates are going to keep you from buying, don't fret- the increase is pretty nominal on an average house, but I would certainly recommend talking to mortgage lender about your borrower power before you file your taxes next month. A good lender can suggest some things that can have a big affect on your borrowing power later down the line. As always, remember me if you're interested in buying or selling residential, investment or commercial real estate in Charleston!
Mortgage rates have been near historic lows lately, which is causing a major increase in home buying. That is great news and it most certainly helps our economy as a whole. Now that the Federal Reserve is starting to see a healthy real estate market, they plan to increase our rates a small amount to try to recoup some surplus funds for Federal spending. The Federal Reserve adjusts this interest rate depending on the performance of our economy, as well as international events that may harm of benefit our National economy. This post just states the current rates and what we should expect to see in the coming days. Remember me if you're interested in buying or selling residential, commercial or investment real estate in Charleston, SC!
Foreclosures! People ask me all the time to help them find a great deal on a foreclosure. Unfortunately, just because something is a foreclosure doesn't mean it's a good deal. In fact, most aren't because they need SO much work and the banks do not list those price their listings very accurately. In the past, the banks were flush with foreclosures and that led them to mark those properties down in order to sell them more successfully and quickly. Now that there are much less foreclosures, the banks are not pricing those listings as aggressively. The banks had so many foreclosures to deal with that they were often not even finishing the foreclosure process so that they wouldn't have those properties on their ledger. We have seen an aggressive up-swing in the real estate market in the last couple of years. The banks are noticing that we are on the way into a seller's market and they are not starting to finish the foreclosure process on as many properties as possible so that they can get them onto the market and offload those properties. This has caused a significant increase in foreclosure listings recently. This post is going to explain this entire process in more detail and discuss some of the details of foreclosures that many folks may not know. Remember me if you or anyone you know is ready to buy or sell residential, commercial or investment real estate in Charleston, SC!
Being a landlord isn't as easy as it may seem. I know when I was a renter, I felt like my landlords would just sit back and wait for a fat check every 30 days. Now that I am a landlord myself, I know that not to be true. Being a landlord is just like any other business and it requires a lot of calculations and foresight. Of course, there are a lot of repairs and maintenance to be had, as well. But, the most nerve-wracking stuff to need to consider are all of the laws and legalities associated with leasing real estate. There is a pantheon of rules and regulations regarding leasing out properties. This post does not touch on everything that's out there, but we do expound 7 major laws that are very important for landlords to be familiar with. Remember me if you're interested in buying or selling residential, commercial or investment real estate in Charleston, SC.