Homebuyers Are Still More Active Than Usual




Even though the housing market is no longer experiencing the frenzy that was so characteristic of the last couple of years, it doesn’t mean today’s market is at a standstill. In actuality, buyer traffic is still strong today.

The ShowingTime Showing Index is a measure of how much buyers are touring homes. The graph below uses that index to illustrate buyer activity trends over time to help put today into the proper perspective.

It shows there’s seasonality in real estate. If you look at the last normal years in the market (shown in gray), there was a consistent pattern as buyer activity peaked in the first half of each year (during the peak homebuying season in the spring) and slowed as each…

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Tips for Making Your Best Offer on a Home




While the wild ride that was the ‘unicorn’ years of housing is behind us, today’s market is still competitive in many areas because the supply of homes for sale is still low. If you’re looking to buy a home this season, know that the peak frenzy of bidding wars is in the rearview mirror, but you may still come up against some multiple-offer scenarios.

Here are a few things to consider to help you put your best foot forward when making an offer on a home.

1. Lean on a Real Estate Professional

Rely on an agent who can support your goals and help you understand what’s happening in today’s housing market. Agents are experts in the local market and on the national trends too. They’ll use both of those…

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Use these Colorful and Textured Plants to Elevate Your Landscape

Mums

Photo Credit: Proven Winners

As the end of summer approaches in the Lowcountry, thoughts of preparing your landscape for fall might come to mind. However, before you pack away your planters, consider holding off just a little longer. Fall, the coziest season of the year, still awaits with its array of jewel-toned, late-season bloomers that can breathe new life into your outdoor spaces.

To get the most out of your fall plants, why not leave them in their containers? Creating a successful fall container garden with a mix of autumn stars can give your doorstep, porch, or window boxes a burst of color and charm for a few more months. To elevate your landscape this autumn, here are a…

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Owning Your Home Helps You Build Wealth




You may have heard some people say it’s better to rent than buy a home right now. But, even today, there are lots of good reasons to become a homeowner. One of them is that owning a home is typically viewed as a good long-term investment that helps your net worth grow over time.

Homeownership Builds Wealth Regardless of Income Level

You may be surprised to learn homeowners across various income levels have a much higher net worth than renters who make the same amount. Data from First American helps illustrate this point (see graph below):

What makes wealth so much higher for homeowners? A recent article from Realtor.com says:

“Homeownership has long been tied to building wealth—and for good…

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Explaining Today’s Mortgage Rates




If you’re following mortgage rates because you know they impact your borrowing costs, you may be wondering what the future holds for them. Unfortunately, there’s no easy way to answer that question because mortgage rates are notoriously hard to forecast.  

But, there’s one thing that’s historically a good indicator of what’ll happen with rates, and that’s the relationship between the 30-Year Mortgage Rate and the 10-Year Treasury Yield. Here’s a graph showing those two metrics since Freddie Mac started keeping mortgage rate records in 1972:

As the graph shows, historically, the average spread between the two over the last 50 years was 1.72 percentage points (also commonly referred to as 172 basis points).…

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Homebuyers Are Getting Used to the New Normal




Before you decide to sell your house, it’s important to know what you can expect in the current housing market. One positive trend right now is homebuyers are adapting to today’s mortgage rates and getting used to them as the new normal.

To better understand what’s been happening with mortgage rates lately, the graph below shows the trend for the 30-year fixed mortgage rate from Freddie Mac since last October. As you can see, rates have been between 6% and 7% pretty consistently for the past nine months:

According to Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), mortgage rates play a significant role in buyer demand and, by extension, home sales. Yun highlights…

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The Best of November in the Lowcountry - Events You Will Not Want to Miss

Louis Jadot Wine Dinner at Alexander's Restaurant

Join us for a special wine dinner at Alexander's Restaurant on Thursday, October 19, 2023. We will be featuring a selection of wonderful wines from Louis Jadot Winery, paired with delicious food created by our award-winning chefs.

Louis Jadot is one of the most prestigious winemakers in the world, and their wines are known for their elegance and complexity. We will be tasting a variety of their wines, including their famous Beaujolais, as well as their more recent releases from Burgundy and the Côte de Nuits.

The food pairings will be created by our executive chef, John Behan, who has a deep appreciation for wine and…

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MARKET UPDATE - JUNE 2023

Despite the rising temperatures, the U.S. housing market is experiencing cooler conditions than expected for this time of year. The reason behind this trend is a combination of factors, including a low inventory of homes and higher borrowing costs, which have led to a decrease in market activity during the peak summer homebuying season.

According to the most recent data released by the National Association of REALTORS® (NAR), existing-home sales saw a slight increase of 0.2% from the previous month. However, compared to the same period last year, there was a significant decline of 20.4%. This drop in sales can be attributed to fluctuating mortgage rates and a historically low level of available homes for buyers to choose…

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Fall Festivals, BBQ Cookoffs, and More: What to Do in October

The Fish and Grits Music Festival

"Great Music, Great Food, and Great Times!" 

OCTOBER 7, 2023

LOWCOUNTRY CELEBRATION PARK | HILTON HEAD ISLAND, SC

The Lowcountry Fish & Grits Music Festival brings awareness to the unique Gullah Geechee culture and its connection to the African diaspora by showcasing great musical talent and local cuisine. 

TRACE YOUR ROOTS THROUGH MUSIC AND FOOD! 

Coligny's Rock N Ribs: A Classic Rock & Roll Weekend Celebrating BBQ

A four-day festival of world-class BBQ, live music, and good times

October 19-22, 2023

Hilton Head Island, SC

Coligny's Rock N Ribs is a four-day festival celebrating all things BBQ, from the people who make it to…

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The Lowcountry in September: A Month of Fun and Festivities

Blue + BBQ: A Celebration of History and Flavor

Join us in Historic Mitchelville Freedom Park on September 9th for the annual Blue + BBQ event!

This year's event features a BBQ Cookoff with 2022 SC Chef Ambassador Chris Williams, and local BBQ Master Chef Thomas Baker. There will also be live music, arts and crafts, and a variety of food and drinks.

The event is a fundraiser for the Mitchelville Freedom Park Foundation, which works to preserve and promote the history of Mitchelville, the first town founded by formerly enslaved people in the United States.

The all-blue theme of this year's event is a nod to the history of Mitchelville. The town was founded in 1862 by formerly…

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