Archive for November 2010
Title Insurance: More Important Than Ever
Never ever ever buy real estate and decline the title insurance! Even if the property is NOT a foreclosure! Get the title insurance!
Amplify’d from www.realtor.org
Never ever ever buy real estate and decline the title insurance! Even if the property is NOT a foreclosure! Get the title insurance!Amplify’d from www.realtor.orgUnderstanding the tenets of title insurance is especially important considering the turmoil in the real estate industry.Title insurance is …http://southcarolina.posterous.com/title-insurance-more-important-than-ever
HUGE Hartwell Lake Lot in Townville South Carolina
MLS 20114462 Lots 3 &4 Rochester Road Townville South Carolina $89,900
Gone Fishing! 2 lots for one price! Close to I-85! Combined both lots are approx 1.1 acres. Waterfront and surrounded by nice homes. Nice hardwoods and gently sloped. Green zone but not dockable. Owner will consider financing to qualified buyers with reasonable down payment! Motivated seller says to submit all offers!
To see more pictures and details please visit Upstate South Carolina Real Estate
Mark Brian Silver Star Real Estate Office 864-225-1883
Upstate South Carolina Real Estate
MLS 20114462 Lots 3 &4 Rochester Road Townville South Carolina $89,900 Gone Fishing! 2 lots for one price! Close to I-85! Combined both lots are approx 1.1 acres. Waterfront and surrounded by nice homes. Nice hardwoods and gently sloped. Green zone but not dockable. Owner will consider fin …http://southcarolina.posterous.com/huge-hartwell-lake-lot-in-townville-south-car
Rapidly Rising Homeownership Costs And The End Of The Refi Boom
Amplify’d from themortgagereports.com
The Refi Boom is ending, and so is the record-low cost of homeownership. If you’re waiting for the market “to bottom” before locking a rate, you may have missed your window. The time to act is today.
The Mortgage Rate Rally Ends
Between April and early-November 2010, mortgage rates fell more than 1 percent. With each week, rates went lower, and lower; breaking through 5 percent, and then 4-and-a-half. For a brief moment, 30-year fixed rates landed at 4 percent even.
And then a retreat began.
Overnight — literally — Wall Street soured on bonds, a turnabout sparked by the Federal Reserve and its decision to bolster the U.S. economy with an additional $600 billion investment in bonds. Because the economy is already showing signs of recovery, the Fed’s move is bringing out the inflation hawks and their long-term outlook for inflation can be frightening.
Inflation devalues the U.S. dollar and everything denominated in it. This includes mortgage bonds, of course, so when inflation is present, mortgage bonds lose their street value, and mortgage rates rise to compensate.
Big Stimulus –> Big Inflation
But it’s not the Fed’s latest intervention alone that’s causing rates to rise. Nor is it the fact that the economy is showing signs of stabilization and job growth. It’s because of these two factors plus another Fed stimulus plan — the Fed Funds Rate.
Since December 2008, the Fed Funds Rate has been held within a target range of 0.000-0.250 percent and that, too, is propelling the U.S. economy forward. Banks and businesses have been borrowing cheaply and making capital investments. Consumers have been spending, too.
Remember, the recession ended 17 months ago — even if it doesn’t feel like it all the time. It takes time for the world to reboot after a shake-up like what we had. Wall Street worries that, like Barney Rubble spinning his feet before catching gear, the economy is going to go from dead-stopped to full-speed.
Hence, rising mortgage rates.
The Rising Cost Of Homeownership
Because mortgage rates are up, so is the cost of homeownership. It costs more to carry a 30-year loan to term today than at any time since mid-August. It’s a big jump in cost, too.
Comparing a $300,000 mortgage’s long-term cost over the last 14 days:
- November 11 : $528,649 to carry the loan to term
- November 25 : $543,221 to carry the loan to term
That’s a $14,500 increase in just 2 weeks. And since November 25, rates are higher still. Freddie Mac publishes its survey but once a week so we can’t capture it exact just yet.
Historically, of course, rates are low. No doubt about that. But for people waiting to join the Refi Boom, the time to act is today.
Amplify’d from themortgagereports.comThe Refi Boom is ending, and so is the record-low cost of homeownership. If you’re waiting for the market “to bottom” before locking a rate, you may have missed your window. The time to act is today.The Mortgage Rate Rally EndsBetween April and early-November 2 …http://southcarolina.posterous.com/rapidly-rising-homeownership-costs-and-the-en
Land for Sale in Anderson County South Carolina
MLS 20114549 Smith McGee Road Starr South Carolina $99,900
11.5 Acre Sportsman Paradise
Please visit Upstate South Carolina Real Estate
Silver Star Real Estate 864-225-1883 Property marketed by Mark Brian MLS Listing Courtesy of David Phillips
Mark Brian Silver Star Real Estate Office 864-225-1883
Upstate South Carolina Real Estate
MLS 20114549 Smith McGee Road Starr South Carolina $99,900 11.5 Acre Sportsman Paradise Please visit Upstate South Carolina Real Estate Silver Star Real Estate 864-225-1883 Property marketed by Mark Brian MLS Listing Courtesy of David Phillips Mark Brian Silver Star Real Estate Office 864-2 …http://southcarolina.posterous.com/land-for-sale-in-anderson-county-south-caroli-0
MLS 20113843 304 Island Drive Six Mile South Carolina $105,000
Tranquility at Lake Keowee
Owner wants offers for this wonderful interior lot with deeded slip in upscale subdivision. Tranquility is the first word that came to my mind as I walked this wonderful parcel of land. This is an incredible opportunity to live in a restricted Lake Keowee subdivision. This interior lot comes with deeded slip in deep water. Nice hardwoods grace this breathtaking lot that is gently sloped and could be the ideal location for the home of your dreams. Please submit all offers!
To see more pictures and details please visit Upstate South Carolina Real Estate
Mark Brian Silver Star Real Estate Office 864-225-1883
Upstate South Carolina Real Estate
Tranquility at Lake Keowee Owner wants offers for this wonderful interior lot with deeded slip in upscale subdivision. Tranquility is the first word that came to my mind as I walked this wonderful parcel of land. This is an incredible opportunity to live in a restricted Lake Keowee subdivis …http://southcarolina.posterous.com/mls-20113843-304-island-drive-six-mile-south
Upstate South Carolina Real Estate 11-27-2010
Well I hope you had a great Thanksgiving and survived Black Friday. I got a pretty good deal on a new pair of shoes at Grady’s in Anderson but otherwise was too busy catching up from taking Turkey Day off to do much shopping. I have added several great articles for anyone interested in buying or selling real estate in Upstate South Carolina!
We all know the economy and the real estate market is still hurting. The key to housing market recovering is job creation and availability of credit so that people can actually buy a home. Last week NAR’s Board of Directors approved a credit policy to urge the mortgage lending industry to reassess and amend their policies so more qualified home buyers can become home owners. But that is just part of the current problem with real estate and the economy! There is sadly a problem with scam artists preying on distressed home owners that you can read about at Help for Struggling Homeowners Against Mortgage Relief Scams
An interesting survey about housing and real estate was released by Fannie Mae this week and you can find out more by reading October 2010 Fannie Mae Housing Survey
One of the reasons why right now is considered by many a great time to buy is because of the low mortgage rates available today. Consider the latest report from FHFA on Mortgage Rates in October 2010
The National Association of REALTORS® released the existing home sales numbers for October 2010 and they are not pretty. Please remember that this is for all of the U.S. or the Southeast and not just Upstate South Carolina! Find out more by reading October 2010 Existing Home Sales
Or maybe you want to check out some of the October 2010 Real Estate Market reports for Upstate South Carolina:
October 2010 Market Indicators October 2010 Housing Supply Outlook
Anderson Belton Central Clemson Easley Fair Play Honea Path Liberty Pendleton Pickens Piedmont Salem
Seneca Starr Walhalla Westminster Williamston
I just found some news from FHFA about real estate prices and their House Price Index and shared the news from FHFA and also some insights into the Upstate South Carolina real estate market at FHFA Reports Price Decline Q3 2010
One of the most important considerations for people buying a home is their cost. Not just the price of the home, but what is their monthly payment going to be. So keeping an eye on mortgage rates is important to buyers and you can find out more at the Latest Mortgage Rate Update
Don’t forget to check out the listing of the day: Owner Finance Commercial Property Anderson South Carolina
And now for another crazy picture that is not real estate related:
Mark Brian Silver Star Real Estate Office 864-225-1883
Upstate South Carolina Real Estate
Well I hope you had a great Thanksgiving and survived Black Friday. I got a pretty good deal on a new pair of shoes at Grady’s in Anderson but otherwise was too busy catching up from taking Turkey Day off to do much shopping. I have added several great articles for anyone interested in buying or …http://southcarolina.posterous.com/upstate-south-carolina-real-estate-11-27-2010
Owner Finance Commercial Real Estate in Anderson South Carolina
MLS 20114339 2630 South Main Anderson South Carolina $112,000
Seller wants to help by offering Owner Finance for a great high traffic business location with a Main Street address in Anderson South Carolina! Beautiful hardwood floors, full kitchen or break area for employees, full bath, very large front room and excellent layout perfect for doctor, attorney, accountant or almost any business. Plenty of parking and visibility!
To see more pictures and details please visit Anderson South Carolina Real Estate
Mark Brian Silver Star Real Estate Office 864-225-1883
Upstate South Carolina Real Estate
MLS 20114339 2630 South Main Anderson South Carolina $112,000 Seller wants to help by offering Owner Finance for a great high traffic business location with a Main Street address in Anderson South Carolina! Beautiful hardwood floors, full kitchen or break area for employees, full bath, very …http://southcarolina.posterous.com/owner-finance-commercial-real-estate-in-ander
3 Bedroom 2 Bath Home for Sale in Easley South Carolina $152,500
MLS 20112506 505 Wild Wing Way Easley South Carolina
Relax on the patio and listen to the babbling creek! This home is move in ready with new hardwood floors and carpet throughout. The open kitchen is perfect for entertaining, and the master suite has a lovely frenchdoor entrance to the master bath. It’s situated at the back of the neighborhood in a quiet culdesac lot on the creek. Convenient to local stores, I85, Anderson, Clemson, and Gville. Priced to sell! Schedule your showing today!
To see more pictures and details of this property please visit Easley South Carolina Real Estate
Property marketed by Mark Brian MLS Listing Courtesy of Brandon Bailey
Mark Brian Silver Star Real Estate Office 864-225-1883
Upstate South Carolina Real Estate
MLS 20112506 505 Wild Wing Way Easley South Carolina Relax on the patio and listen to the babbling creek! This home is move in ready with new hardwood floors and carpet throughout. The open kitchen is perfect for entertaining, and the master suite has a lovely frenchdoor entrance to the mas …http://southcarolina.posterous.com/3-bedroom-2-bath-home-for-sale-in-easley-sout
Political Will to Fix Housing Scarce
Unless fixing the real estate market can somehow line the pockets of the politicians, it is doubtful they will get in a hurry to do anything to help America.
Amplify’d from www.housingwire.com
Housing and housing finance present the largest risk to the overall economy, according to Morgan Stanley analysts, who said they were too optimistic last year when they predicted “only a modest recovery in housing” for 2010.
Analysts said there are many options available to fix the nation’s “dysfunctional housing and mortgage markets, but the political will to deploy them is scarce.”
The analysts suggest additional loan modifications or refinancings, or principal writedowns may help ease the problems facing the industry.
Banks have tightened lending standards and there’s a shadow inventory of some 8 million units that create a vicious circle, according to Morgan Stanley. And without substantial policy reform, the imbalance won’t correct itself for years and home prices may fall another 10% before reaching bottom in 2012, the analysts said.
Morgan Stanley also said the risk of mortgage putbacks is restricting the supply of credit, as banks are only lending to borrowers with pristine credit and proper housing equity. Still, the analysts expect loan originators to see losses of $85 billion to $165 billion from the putbacks with large-cap banks bearing the burnt of the losses.
Analysts said policymakers should first focus on repairing housing by reducing the supply and demand imbalances and restore market functioning. Then reforms can be implemented “to assure longer-term financial and economic stability.”
Unless fixing the real estate market can somehow line the pockets of the politicians, it is doubtful they will get in a hurry to do anything to help America.Amplify’d from www.housingwire.comHousing and housing finance present the largest risk to the overall economy, according to Morgan Stanley anal …http://southcarolina.posterous.com/political-will-to-fix-housing-scarce
3 Bedroom 2 Bath Home on 2.5 Acres for Sale in Anderson South Carolina
MLS 20108677 2011 Quail Ridge Anderson $154,000
WANT COMFORT!! YOU WILL LOVE THIS HOME WITH 3 BR 2 BA DELIGHTFUL KITCHEN, CERAMIC TILE, REFRIG, STOVE, DISHWASHER, WASHER AND DRYER TO STAY. BEAUTIFUL CHERRY FLOORING PER SELLER, LARGE SUNROOM, DECK ACROSS THE BACK FOR ENTERTAINING. OVERSIZE GARAGE.
ALL ON 2.53 ACRE LOT NEAR LAKE HARTWELL.
To see more pictures and details of this property please visit Anderson South Carolina Real Estate
Property marketed by Mark Brian MLS Listing Courtesy of David Phillips
Mark Brian Silver Star Real Estate Office 864-225-1883
Upstate South Carolina Real Estate
MLS 20108677 2011 Quail Ridge Anderson $154,000 WANT COMFORT!! YOU WILL LOVE THIS HOME WITH 3 BR 2 BA DELIGHTFUL KITCHEN, CERAMIC TILE, REFRIG, STOVE, DISHWASHER, WASHER AND DRYER TO STAY. BEAUTIFUL CHERRY FLOORING PER SELLER, LARGE SUNROOM, DECK ACROSS THE BACK FOR ENTERTAINING. OVERSIZE G …http://southcarolina.posterous.com/3-bedroom-2-bath-home-on-25-acres-for-sale-in
