Betty Poore: What's New on the Charleston Coast Blog: Hot Market - Great article by Anthony Carr

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Sunday, May 31, 2009

Hot Market - Great article by Anthony Carr

I just got back from a wonderful golf outing with friends and am catching up on household duties, laundry, mail, and email. I came across this article by Anthony Carr regarding the Charleston SC market. With shrinking inventory and lower prices, Charleston may be turning around. Here's the whole article for your review.

Hot Market: Charleston SC Sets Up For Strong Recovery

If shrinking inventory and dropping sales prices are any indicator, Charleston, South Carolina is about to follow suit of housing markets such as Miami, Washington DC and Las Vegas, that have turned around in recent months. Homes available for sale in Charleston have dropped nearly 10 percent in the last month compared to a year ago.

The Charleston Trident Association of Realtors reported its inventory has dropped more than 1,000 units in April to just over 10,000 houses on the market. In addition, median sales prices have leveled at around $180,000 for the area.

The inventory may drop even more in the coming months as "South Carolina's highest court -- temporarily stopped thousands of pending foreclosure sales in the state to give homeowners more time to take advantage of a new federal program to help them refinance mortgages,” according to a report in the Charleston Daily Mail.

"The injunction, which mortgage experts said appeared to be the nation's first court-ordered stop for an entire state, prevents judges in South Carolina from finalizing foreclosure sales on properties guaranteed by Freddie Mac, Fannie Mae or any other mortgage company that has signed on to a federal assistance program.,” the Mail reported. reports the ruling could affect as many as 5,000 South Carolina homeowners currently facing foreclosure proceedings.

Published: May 29, 2009

# posted by Betty Poore @ 6:40 PM

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Charleston Coast, SC Real Estate | Betty Poore
About Betty Poore's Charleston Coast, SC Real Estate Website: The web site provides Charleston, Seabrook Island, Kiawah Island, Folly Beach, James Island, Sullivans Island, Isle of Palms, Dewees Island, Daniel Island, Mount Pleasant and the Charleston Coast, South Carolina real estate information and resources to guide homeowners, homebuyers and real estate investors through the process of selling and buying a house, condo or other realty property in the Charleston Coast area. Betty Poore Sometimes spelled as Bettye, Betti, Bettie, Bety, Beti, Betie, Poor, Pore, Porre, Pour, or Poure has services to help you get the best value for your Charleston Coast home and this website offers home buyers and home sellers a superior comparative market analysis (CMA), a way to view real estate and MLS IDX listings including virtual tours, prepare your home for sale, and more. Investors looking for real estate investment properties to invest in need look no farther. Anyone selling a home, buying a home or seeking housing can learn more about our realty services, and will appreciate working with a  Charleston Coast REALTOR who knows  the area so well. Through trusted partners, we also provide real estate and financial services to consumers looking for houses for sale or selling their home in Charleston Coast, SC, such as mortgages, credit history, new homes, foreclosures and other services. If you've already tried to go the for sale by owner (FSBO) route and find you are needing a partner who you can trust in the sale of your most precious asset, Betty Poore can take care of your special needs. It really doesn't matter if you spell it REALTOR, Realator or Realter, realty, realety or reality, real estate or realestate, Betty speaks  your language.
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