A look at Charleston’s economy:
Everybody has an opinion of what’s happening to our local market, none of us has the crystal ball though. What I can tell you is those people who have to move are listing their homes and getting them sold in less than a month.
Buyers who need a house now are buying those homes. The buyers are finding they have more choices and less competition. Less competition with more choices for buyers, aligned with higher purchase costs in the way of interest rates, will eventually see values start to decline. No major loss of value, just enough to balance rates vs affordability.
Will this mean sellers will lose money? Not necessarily. Sellers who have owned homes longer than 24 months probably won’t. They may not have optimized their cash out by selling during the past year or so. They’ll be fine though. Most are in a positive equity position and will walk away from the sale with money in their pocket.
For those home purchasers in the last two years trying to resell will almost definitely put them in a negative equity position. This could cause a short sale situation or force them into turning the home into a rental (a great investment strategy).
If you’re considering buying or selling and need a consultation please contact us.
Neighborhood Guides
West Ashley Charleston Below The Crosstown Summerville
Wando Daniel Island Charleston Mount Pleasant
November is here!! Should start to cool off a bit. Stingrays will be back on the ice on November 5,6,18,19,20!! Holiday Events will begin at Charleston Place on the 29th. A Christmas Carol will begin a run at the Dockstreet Theatre beginning on the 30th.
Looking To Buy In The Summerville SC Area
November calendar of events around the Charleston, SC area:
1,2: Revivalists, Rivieria Theatre
2: Sound of Charleston, Circular Congregational Church
3: Gipsy Kings, Chas Music Hall
4: Loretta Lynn Tribute, Chas Music Hall
5: 51st Annual Charleston Scottish Games and Highland Gathering
5: Lee Brice, Credit One Stadium
5: Nitty Gritty Dirt Band, Chas Music Hall
5: Symphony Tour of Island Homes, Kiawah
6: Shellabration of Charleston Oyster Week, Bowens Island
9: Sound of Charleston, Circular Congregational Church
10: Solo Cello Recital, St. Johannes Lutheran Church
10: USO Tour, Manigault House
11: Bored Teachers Comedy Tour, Chas Music Hall
11: N Chas Tribute to Veterans, N Chas PAC
12: Yall Fest, Chas Music Hall
13: 2nd Sunday on King Street
13: Big Band Legacy with the Charleston Jazz Orchestra, Kiawah
13: HALOS Oyster Roast, Harborside East Mt Pleasant
13: Steeplechase of Chas, Stono Ferry Racetrack
13: Straight No Chaser, Gaillard
13: Beatles Tribute, Chas Music Hall
16: Teddy Swims, Music Farm
17,18,20: Shriners Children’s Basketball Classic, TD Arena CofC
17: Marshall Tucker Band, Chas Music Hall
18: International Oyster Day, Wild Dunes
18: Stingrays Hockey Frothy Friday, N Chas Coliseum
18,19: Mavericks, Chas Music Hall
20: Joe Pera, Rivieria Theatre
22-27: Dear Evan Hansen Musical, N Chas PAC
20: Preservation Hall Jazz Band, Gaillard
25: Boney James, Chas Music Hall
26: Mt. Joy, Rivieria Theatre
Looking To Buy In The Summerville SC Area
“We should thank Greg so much for selling our home. We really felt like we were getting good advice from him and never felt that he had anything but our best interests at heart. Greg has a great personality – a true professional, thorough, responsive, and a total problem solver. He has the experience and knowledge, so no need to look for any other agent. He found solutions and gave us sound advice every step of the way. Greg courteously and patiently responded to our questions as he went through the entire process of the house sale and time frame. From beginning to end all went smoothly. He did a beautiful job presenting our house inside and out. From the top-notch quality of the listing photos and the overall advertising in the promotion of our home to the day of closing, we could not have asked for more. We were very pleased with the listing, sale time, and fast closing. Any potential problems and suggestions for solutions were promptly communicated. We appreciated him keeping in touch through the entire process and follow-up. He stayed on top of every detail due to having great real estate and construction knowledge, he even helped organize tradesmen for the repairs and communicated very well overall. He also counseled us about a few details we had missed. The result was a perfectly smooth no hassle transaction. We were very impressed with his professionalism and would not hesitate for a moment to refer anyone we know to him in both selling and buying capacities.” – Lily Madani, Sold a Home in Mount Pleasant
“We used Greg Flanagan again when it was time to sell our house that he had helped us buy. He’s amazing! He kept us updated and gave fantastic feedback on our property prior to listing it, the photos for the listing were very well done, always punctual, so responsive to all communication, and very enjoyable to be around. We will always have a great friend in Greg and can’t recommend him highly enough!” – Ann Gillet, Sold a Home in North Charleston, SC
“Folks, if you need a realtor in Charleston you should not hire anyone but Greg Flanagan. He’s by far the best realtor I’ve ever worked with! So my story is I had a rental property that was being mismanaged by Carolina One. So I fired Carolina One and hired Greg to finally sell my house. Carolina One had let the previous tenants cause significant damage to the house. Greg stepped in and coordinated for a roof replacement, new paint in the interior, kitchen refresh, landscaping, window replacement, exterior repair, and a host of assorted repairs required to close on the house. I don’t live in South Carolina anymore so this was all done via phone and email. He always had an answer to any problem, trusted contacts on speed dial, and was extremely responsive. He earned every cent of his commission and achieved a much higher selling price than I was expecting. You will be hard-pressed to finder a more competent and hardworking realtor.” – Nick Rodriguez, Sold a Home in Charleston, SC.
If You’re Looking To Buy, Sell Or Invest In Real Estate,
Charleston-Mount Pleasant-Daniel Island-West Ashley-James Island-Isle of Palms-Sullivan’s Island
Keller Williams Charleston/West Ashley