Credit

Are You Still Renting? STAHHP!

Are You Still Renting? STAHHP!

The Charleston are's population has been burgeoning. Everyone knows it. It's partly due to the fact that our little city is so livable, but it is also due to the heavy influx of industry that we're currently seeing. I think new industry should be welcomed with open arms to strengthen our local communities. However, when you experience an influx of new residents, you will certainly see an affordable housing shortage. That has been the case here in Charleston recently. Unfortunately, house prices have skyrocketed and that has made many millennials unable to buy. They have to resort to renting and the rental rates in the area have been increasing just as aggressively as home prices. Today's post is about why it is impractical to continue renting in today's market. I know it isn't easy to buy a home, so we will follow the previous statements up with some information on how you CAN buy a home more easily than you think you can.

Realtors Urge Congress to Ease Up on Credit Requirements for Buyers

Realtors Urge Congress to Ease Up on Credit Requirements for Buyers

Congress works with various other Government entities and Government-affiliated organizations to help homebuyers purchase homes. They mainly responsible for setting the rules and regulations that Government-endorsed lending agencies like Fannie Mae and Freddie Mac follow to underwrite loans. Congress wants to bolster homeownership since the country has rebounded from the recession. The National Association of Realtors is urging Congress to loosening up on some of their lending restrictions in order to increase the number of new homeowners across the country. One major hurdle that many people face is their lack of stellar credit. NAR would like to see Congress reform their credit requirements to see a huge increase in homebuyers. Remember me if you're interested in buying or selling residential, commercial or investment real estate in Charleston, South Carolina!

How an Interest Rate Hike From the Fed Could Affect You

How an Interest Rate Hike From the Fed Could Affect You

The Federal Reserve is the organization that is responsible for things like the nation-wide standard interest rates on loans and lines of credit. Due to our national deficit, the Fed has been considering raising our interest rates to try to reduce our national debt. They've been considering this for quite some time. Our national deficit was made even more substantial during the recession when consumer spending was at a low. The Fed was hesitant to increase these rates because they were afraid it would slow down consumption and slow down recovery. Now that the economy seems to be turned around, they are once again considering increasing our rates. If they do so, this blog post discusses some of the ways that Americans will be affected. Remember me if you're interested in buying or selling residential, commercial or investment properties in Charleston, SC!

Young People Should Avoid These 3 "Assets"

Young People Should Avoid These 3 "Assets"

Assets are a good thing. Unfortunately, there are many people that do not realize the difference between an asset and a liability. An asset is something that increases your net worth. A liability is something that reduces your net worth and requires some kind of repayment. In most cases, acquiring an asset means financing it. An asset is no longer an asset when it's finance. It then becomes a liability. The most unfortunate liability is financing an education. While it should prepare you more for the future and increase your chances for success, it seems to be causing more harm than good as it is incredibly difficult to pay off those loans. This post is intended to explain three "assets" that young people should avoid acquiring as they will most certainly be damning unless much consideration is taken. Remember me if you're interested in buying or selling residential, commercial or investment real estate in Charleston, SC!

How Do Millennials Qualify for Mortgages?

How Do Millennials Qualify for Mortgages?

Millennials get a lot of flack from older generations for a multitude of reasons. I would know because I'm a millennial myself. I'm not going to argue for or against any of the contentions facing millennials. We have our good and bad traits, like every other generation. The point of this post is to discuss some of millennial's financial difficulties and how to overcome them in order to obtain mortgages. Overwhelmingly, millennials want to own homes. Unfortunately, many millennials carry ludicrous amounts of student loan debt. There are still ways that millennials are able to purchase real estate, but most of these methods require a lot of Spartan spending and saving. In my opinion, opening less and saving more is the way we should all try to live. Remember me if you're looking to buy or sell commercial or residential real estate in Charleston, SC!