Homes in Charleston ARE selling
... and sometimes very quickly.
There are some who say that homes in Charleston aren't selling. And some aren't but not all. There has been increasing activity in the Charleston real estate market since the beginning of the year and it's picking up.
Many first time homebuyers are motivated to buy now because home prices seem to be more affordable and because of the $8k first time homebuyer tax credit. Generally, they are interested in buying starter homes at lower price points and that is where sales activity is the most active.
I recently got a call from a first time homebuyer who wants to look at homes for sale in about a week. I helped them get a preapproval letter from a good local lender and began to select homes they might like to see. But even I was surprised the other day when two homes came on the market one day and went under contract the next. It seemed like 2005 all over again.
The obvious difference is that prices are down, mortgage rates are incredibly low and buyers sense there are some very good deals available.
WCIV, ABC News 4 Charleston always does a nice job of reporting on the housing market. They're even sort of a lucky charm for me because on the occasions that someone calls me to do an interview, I always seem to be busy with a client and can't meet them right now (which is just about the time frame that television news operates on). So I've never been a television celebrity.
Here's a video from the other day, Home sales up across TriCounty. And not just starter homes but ...
