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Charleston | Blog

Thursday, February 21, 2019   /   by Steve Smith

3 Reasons Why We Are Not Heading Toward Another Housing Crash

3 Reasons Why We Are Not Heading Toward Another Housing Crash


With home prices softening, some are concerned that we may be headed toward the next housing crash. However, it is important to remember that today’s market is quite different than the bubble market of twelve years ago.

Here are three key metrics that will explain why:


Home Prices



Mortgage Standards



Foreclosure Rates


HOME PRICES

A decade ago, home prices depreciated dramatically, losing about 29% of their value over a four-year period (2008-2011). Today, prices are not depreciating. The level of appreciation is just decelerating.

Home values are no longer appreciating annually at a rate of 6-7%. However, they have still increased by more than 4% over the last year. Of the 100 experts reached for the latest Home Price Expectation Survey, 94 said home values would continue to appreciate through 2019. It will just occur at a lower rate.

MORTGAGE STANDARDS

Many are conc ...

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Friday, February 8, 2019   /   by Steve Smith

5 Reasons to Love Hiring A Real Estate Pro

Hiring a real estate professional to guide you through the process of buying a home or selling your house can be one of the best decisions you make!
They are there for you to help with contracts, explaining the process, negotiations, and pricing (both when making an offer or setting the right price for your home).
One of the top reasons to hire a real estate professional is their understanding of your local market and how the conditions in your neighborhood will impact your experience. ...

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Thursday, February 15, 2018   /   by Steve Smith

Calm Down! The Real Estate Market is NOT Falling Apart

There has been tremendous volatility in certain markets over the last few weeks (for example, the stock and currency markets). When this happens, some tend to lump all of their investments together and create an almost ‘Armageddon’ scenario where everything loses value quickly and dramatically. Real estate is an investment that can get caught up in this hysteria. Does the concern about the current housing market have merit?
Financial advisors have been warning us for months that the stock market was ripe for a “correction.”
Experts have been questioning the value of alternative currencies for over a year.
In contrast, here are the opinions of three major players in the residential housing market:
Ralph DeFranco, Chief Economist, Arch Capital Services Inc.

“It’s premature to worry about a housing bubble. The typical warning signs – excessive debt levels, poor quality loans, exponentially increasing home prices, rising vacan. ...

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  charleston, charleston real estate, charleston sc