Today's blog post regards outsourcing managing your rental properties to a professional property manager. Many landlords avoid hiring out the management of their properties for a variety of reasons. Primarily, the are concerned with the price and the loss of control that they will have over their properties. This post discusses a handful of pros and a couple of cons to hiring a property manager. I, myself, and guilty of hesitating to hire a property manager because I want to save the costs in order to pay off these properties quicker. However, I am quickly realizing it to me much more prudent to hire that job out!
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!
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.
Millennials are struggling economically. It's primarily student loan debt that has proven to be Millennial's plight. In this blog post, a very well-known economist's opinions and advice are directed toward millennials on how to better position themselves financially to succeed. Most millennials want to buy a home, but are unable to due to their student loan debt and high costs of living due to inflation. This post focuses on some of the ways that millennials can overcome these struggles. Remember me if you're interested in buying or selling residential, commercial or investment real estate in Charleston, South Carolina.
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!