It's no secret that we're experiencing a seller's market. Sellers have much more leverage than buyers do in our current real estate market. Realtor Magazine recently published a very insightful article including data provided by Redfin.com that was gathered by surveying sellers. This post discusses some of the interests and concerns that those ready to sell their homes are facing and to what percentage they would agree. Remember me if you're interested in buying or selling residential, commercial or investment real estate in the Charleston, SC area!
Mortgage rates have remained at almost historic low this week. The lowest average mortgage rates were around 3.31% in Nov 2012. Our most current rates are not much higher this week at 3.42% for a 30-year-fixed-rate. Rates have continued to drop ever so slightly over the last few months. I would not expect them to get much lower that they are now, so if you're in the market to purchase, I would certainly recommend doing so soon.
Here are the averages for the week:
- 30-year-fixed-rates - 3.42%. This time last year, they were 4.09%.
- 15-year-fied-rates - 2.72%. This time last year, they were 3.25%.
- 5-year hybrid ARMs - 276%. This time last year, they were 2.96%.
Now is a great time to buy or sell! As always, if you or anyone you know is ready to buy or sell a home, investment property or commercial property, please feel free to contact me. Our local inventory is very tight in the Charleston area with this influx of new residents. However, if you're prepared when the perfect property becomes available, you should have little problem securing it.
It's hard to become wealthy. If it wasn't, everybody would be wealthy, right? It may not be easy to become wealthy, but there are a number of elite rich folks out there who are willing to share some of their habits and behaviors that have helped them to remain hyper-productive and uber rich. Here are 7 tips each from a billionaire to help get your finances on track!