Charter One Realty Blog - February, 2022

Lowcountry Real Estate Market Report - January 2022

The 2022 real estate market begins where 2021 left off, in which existing home sales reached their highest level since 2006, with the National Association of REALTORS® reporting sales were up 8.5% compared to the previous year as homebuyers rushed to take advantage of historically low mortgage rates. Home sales would’ve been even greater were it not for soaring sales prices and a shortage of homes for sale in many markets, forcing a multitude of buyers to temporarily put their home purchase plans on hold.

Hilton Head & Mainland Real Estate Market Update - January 2022

For the 12- month period spanning February 2021 through January 2022, pending sales in the Hilton Head region were down -3.9 percent overall. Market-wide, inventory levels were down…

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Why It's Worth Getting a Pro to Sell Your Home...Especially in This Market

When you sell your home yourself, it's known as "for sale by owner" (FSBO). With limited inventory and listings spending relatively little time on the market, selling your home yourself may seem like a way to save money. Acting as your own seller's agent sounds appealing, but here are some compelling reasons why you may want to reconsider.

1. Real Estate is a Full-Time Job

Can you rush home every time someone wants to see your home? Can you excuse yourself from a meeting every time your phone rings with a potential buyer? At the end of a long workday, do you have the energy to take advantage of every possible opportunity to market your home? Are you an expert in marketing homes?

Your answer to all of these questions is probably "no." A Real…

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Want Top Dollar for Your House? Now’s the Time To List It.

When you’re selling any item, you usually want to sell it for the greatest profit possible. That happens when there’s a strong demand and a limited supply for that item. In the real estate market, that time is right now. If you’re thinking of selling your house this year, here are two reasons why now’s the time to list.

1. Demand Is Very Strong This Winter

A recent article in Inman News explains:

“Spring, the hottest time of year for homebuyers and sellers, has started early, according to economists. . . . ‘Home shopping season appears to already be in full swing!’”

And they aren’t the only ones saying buyers are already out in full force. That claim is backed up with data released last week by ShowingTime. The ShowingTime…

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Charter One Realty Welcomes Krista Wilson

Krista Wilson Joins Charter One Realty

BLUFFTON, SC, February 2022 – Charter One Realty is pleased to announce that Krista Wilson has joined the company as an Agent, partnering with John Weber and the John Weber Team. Krista and her team bring over 30 years of experience in sales, marketing, and real estate in the Coastal Lowcountry. Krista has joined the company at their Berkeley Hall office located in Bluffton, SC, and can be reached at 912-441-5328 or by email at Krista@thejohnweberteam.com.

Originally from Detroit, Michigan, Krista moved to Hilton Head Island in 1976. She has watched this area grow for the past 45 years and has seen the changes that make the Lowcountry what it is today.

Krista began her career in the Luxury Hospitality…

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Charter One Realty Welcomes Terri Brackenbury

BLUFFTON, SC, February 2022 – Charter One Realty is pleased to announce that Terri Brackenbury has joined the company as an Agent, partnering with Rich Reed and the Lowcountry Specialists team. Terri and her team bring over 30 years of experience in sales, marketing, and real estate in the Coastal Lowcountry. Terri has joined the company at their Promenade office located in Bluffton, SC and can be reached at 570-269-8735 or by email at TerriBrackenbury@CharterOneRealty.com.

Originally from Northeast Pennsylvania, Terri Ann Brackenbury discovered the Lowcountry back in 2009 when she and her husband Dennis decided to rent a home on Hilton Head for the winter to get away from the cold Northeast. After renting for a few more winters on HH, they decided to…

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Consumers Agree: It’s a Good Time To Sell

In today’s sellers’ market, many homeowners in the Lowcountry are weighing their options and trying to decide if they should sell their house. If you’re in that group, you may be balancing things like the ongoing health crisis, rising mortgage rates, and your own changing needs to determine your best time to make a move.

However, recent data shows that time may already be here. According to the latest Home Purchase Sentiment Index (HPSI) by Fannie Mae, 76% of consumers believe now is a good time to sell.

Looking back over the past few years, it's clear consumers are incredibly optimistic today. The graph below shows the percentage of survey respondents who say it’s a good time to sell a house, and their positive outlook is on the rise.…

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Millions of Americans Have Discovered the Benefits of Multigenerational Households

If your needs are changing, you may be thinking about sharing a home with additional loved ones, such as grandparents, adult children, or other extended family members. Whether it’s for financial or health-related circumstances, or simply because you’ve reached a new phase of life, you might be wondering if living with multiple generations under the same roof is a good move for you. Many people have found themselves in a similar situation and they’ve already made the choice to live in a multigenerational home.

What Is a Multigenerational Home?

The Pew Research Center defines a multigenerational household as a home with two or more adult generations. They include households with grandparents and grandchildren under the age of 25. As you…

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Owning Is More Affordable than Renting in the Majority of the Country

If you were thinking about buying a home this year, but already pressed pause on your plans due to rising home prices and increasing mortgage rates, there’s something you should consider. According to the latest report from ATTOM Data, owning a home is more affordable than renting in the majority of the country. The 2022 Rental Affordability Report says:

“. . . Owning a median-priced home is more affordable than the average rent on a three-bedroom property in 666, or 58 percent, of the 1,154 U.S. counties analyzed for the report. That means major home ownership expenses consume a smaller portion of average local wages than renting.”

Other experts in the industry offer additional perspectives on renting today. In the…

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The Top Indicator if You Want To Know Where Mortgage Rates Are Heading

Mortgage rates have increased significantly since the beginning of the year. Each Thursday, Freddie Mac releases its Primary Mortgage Market Survey. According to the latest survey, the average 30-year fixed-rate mortgage has risen from 3.22% at the start of the year to 3.55% as of last week. This is important to note because any increase in mortgage rates changes what a purchaser can afford. To give you an idea of how rising mortgage rates impact your purchasing power, see the table below:

How Can You Know Where Mortgage Rates Are Headed?

While it’s always difficult to know exactly where mortgage rates will go, a great indicator of where they may head is by looking at the 50-year history of the 10-year treasury yield, and then…

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The Next Generation of Homebuyers Is Here

Many members of Generation Z (Gen Z) are aging into adulthood and deciding whether to rent or buy a home. If you find yourself in this group, it’s important to understand you’re never too young to start thinking about homeownership. The sooner you start planning, the sooner you can move on from renting.

As you set off on your journey and plan your next move, here are a few reasons to think about homebuying this year.

The Reasons Gen Z Want To Become Homeowners

While the majority of Gen Z haven’t entered the housing market yet, a large portion plan to according to a realtor.com report. The report found that 72% of Gen Z would rather purchase a home than rent long-term. As George Ratiu, Manager of Economic Research…

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