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What's Going On with Mortgage Rates?

What's Going On with Mortgage Rates?

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!

8 Rookie Landlord Mistakes

8 Rookie Landlord Mistakes

This post is aimed at new and aspiring real estate investors that want to purchase rental properties. Like most things, newbies will undoubtedly make a lot of mistakes. But, even small mistakes when you own a rental property can be quite costly. This blog post discusses 8 easy to make mistakes and how to avoid them. 

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.

The Closing Process Has Changed

The Closing Process Has Changed

The real estate industry changes constantly. While things like rates and loan products seem to evolve constantly, every few years something major will change that has a major effect on the industry. Every now and then, there will be perhaps a new version of the state contract or a new addendum that pops up. Things like this are perfectly fine as they are improved or developed to better serve our clients and they take very little time to acclimate to. However, some times there are major changes that can stunt the whole industry for a short period of time. Recently, it was revealed that we will be using an entirely new closing procedure when buying or selling a home. This was also designed to protect both buyers and sellers after many were unaware of their predatory loans in the mid-2000's. Rather than using the HUD-1 as the closing document that were all so used to, we will not be shifting to a new document and disclosures process. This process will take a little bit longer to get through than the old HUD-1, but it gives buyers much more transparency when it comes to their loan product. This blog post is all about the new RESPA-TILA activity and the new closing processes that have sprung from it. Remember me if you're interested in buying or selling residential, commercial or investment real estate in Charleston, SC.

Title Insurance - Inside and Out

Title Insurance - Inside and Out

Title insurance is very confusion. Most folks don't even know what it is unless they've bought a home. In fact, many homeowners don't know what title insurance is, either. It's one of those things that you just assume is necessary and good, but don't exactly know what it is. Title insurance is a type of insurance that is mean to protect you interest in your home. Before you buy your property, the closing attorney will do a title search to make sure there is no one else claiming to own the property other than the parties that are selling that property. If there is a conflict in the title, you are almost always encouraged NOT to buy the property because the title is not marketable. If the title is clear, which it usually is, then you will continue on to close the home. Once you've done so, your attorney will find you a title insurance policy that is designed to make sure that your title to your property is always marketable and that one can claim to own part of your property after you have closed. Like any other insurance, there may be claims that are not honored, but title insurance is something that you will always want! This blog post explains the ins and outs of title insurance in more detail. Remember me if you're interested in buying or selling residential, commercial or investment real estate in Charleston, SC.