Charleston Real Estate Blog

CoreLogic reports that foreclosures are down from last year and that shouldn't be much of a surprise to anyone. It's certainly part of the reason that inventory is down substantially right now in the Charleston real estate market. “There were 69,000 completed foreclosures in March 2012 compared to 85,000 in March 2011 and 66,000* ...

With the mortgage settlement between the government and the banks and the robo-signing scandal behind them, we should finally begin to see the banks bring the long awaited shadow inventory of foreclosures to the market. South Carolina is a judicial foreclosure state which means it takes longer to process a foreclosure than a non-judicial state ...

At long last, the government(s) and five of the nation's largest banks have agreed to a $26 Billion mortgage relief settlement. From Forbes, Why Homeowners Can't Bank on the Mortgage Relief Plan, "With great fanfare, the US Department of Justice this morning announced a $25 billion mortgage relief deal. Unfortunately, it won't do ...

Far too many people have sadly lost their homes to foreclosure in the last few years. But some people have chosen to strategically default and a side benefit to that is that it is possible to live in your home rent free for two or three years. CNN Money has an article on the subject, Foreclosure free ride: 3 years, no payments ...

A tale of distressed property in Charleston that illustrates the point that home values sometimes decline far more than the average because this home appears to be back to where it sold around 2002. Now, you don't really know what the condition of the property is that caused the price to be what I think would normally be pretty much below ...

Just about a year after the robo-signing scandal slowed foreclosure activity, apparently the banks have straightened out their procedures and are now picking up the pace. The best line comes from James Saccacio, chief executive of RealtyTrac quoted by MarketWatch.“The October foreclosure numbers continue to show strong signs that ...

Sometimes, the Charleston MLS offers an interesting history about homes for sale. I was looking at a home for sale in Charleston recently and when you look up the history of that listing, you find that it was originally purchased as a foreclosure and then offered as a short sale just a few short years later. And I probably shouldn't be ...

It's been said that you can get a good deal in today's market by buying a foreclosure from 20 to 40 percent below market value. And while there are many lender owned homes available for sale in Charleston that can offer you that opportunity, not all are necessarily good deals. Take this new listing that I just noticed ...

... there are foreclosures available for sale throughout the Charleston real estate market. Even though foreclosures have fallen to a 44 month low according to RealtyTrac, in part due to banks no longer able to just have robo signers get their way through the legal process but also due to the good news that mortgage delinquencies have been ...

Good news for the housing market with mortgage delinquency rates trending down. While the numbers are still well above average (and that is not unexpected), at least they are heading in the right direction. Fannie and Freddie report similar trends. Fannie reports delinquencies at 4.14 percent in May 11 down from 5.15 percent in May 10 ...