In today's competitive market, connecting with a lender to get pre-approved may be the game-changer that helps you secure your dream home in the Lowcountry. 

Pre-approval is important today

Some Highlights

  • Mortgage pre-approval means a lender has reviewed your finances and, based on factors like your income, debt, and credit history, determined how much you’re qualified to borrow.
  • Being pre-approved for a loan can give you clarity while planning your homebuying budget, confidence in your ability to secure a loan, and a competitive edge in a bidding war.
  • In today’s market, connecting with a lender to get pre-approved may be the game-changer that helps you secure your dream home.

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waiting to buy real estate

Many people are sitting on the fence trying to decide if now’s the time to buy a home. Some are renters who have a strong desire to become homeowners but are unsure if buying right now makes sense. Others may be homeowners who are realizing that their current home no longer fits their changing needs.

To determine if they should buy now or wait another year, they both need to ask two simple questions:

  1. Do I think home values will be higher a year from now?
  2. Do I think mortgage rates will be higher a year from now?

Let’s shed some light on the answers to these questions.

Where will home prices be a year from now?

If you average the most recent projections from the major industry forecasters, the expectation is home prices will…

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Questions about Mortgage Rates

So far this year, mortgage rates continue to hover around 3%, encouraging many hopeful homebuyers to enter the housing market. However, there’s a good chance rates will increase later this year and going into 2022, ultimately making it more expensive to borrow money for a home loan. Here’s a look at what several experts have to say.

Danielle Hale, Chief Economist, realtor.com:

Our long-term view for mortgage rates in 2021 is higher. As the economic outlook strengthens, thanks to progress against coronavirus and vaccines plus a dose of stimulus from the government, this pushes up expectations for economic growth . . . .

 

Lawrence Yun, Chief Economist, National Association of Realtors (NAR):

In 2021, I think rates will be…

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Biking on Hilton Head Island is one of the best things to do if you are planning for a day outside. From coasting along the beaches to leisurely trail rides or fast paced races, enjoying our beautiful surroundings by bike is a must-do activity.

Hilton Head Island is undeniably one of the best places to have a bike. Did you know that the community is so bike friendly, it was actually rated as a Gold Level Bicycle Friendly Community by the American League of Bicyclists? 

The miles of trails, nature and wildlife preserve makes the island a peaceful and enjoyable place to relax and exercise. And a great way to get around for quick errands and even traveling to your favorite dinner spot. Plus, the island has a number of communities with serious cycling…

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The housing market keeps sailing along. The only headwind that could take it off course is the lack of inventory for sale. The National Association of Realtors (NAR) reports that there were 410,000 fewer single-family homes for sale this March than in March of 2020. The key to continued success in the residential housing market is for more listings to come on the market. However, many homeowners are concerned that selling their homes could be challenging for several reasons.

Recently, Homes.com released the findings of a survey that identified these concerns, as well as what it will take for homeowners to feel comfortable selling their houses. Here are the four major homeowner concerns and a quick explanation of what’s actually happening in the housing…

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Last week’s Existing Home Sales Report from the National Association of Realtors (NAR) shows sales have dropped by 3.7% compared to the month before. This is the second consecutive month that sales have slumped. Some see this as evidence that the red-hot real estate market may be cooling. However, there could also be a simple explanation as to why existing home sales have slowed – there aren’t enough homes to buy. There are currently 410,000 fewer single-family homes available for sale than there were at this time last year.

Lawrence Yun, Chief Economist at NAR, explains in the report:

The sales for March would have been measurably higher, had there been more inventory. Days-on-market are swift, multiple offers are prevalent, and buyer confidence…

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At the beginning of the year, industry forecasts called for home price appreciation to slow to about half of the double-digit increase we saw last year. The thinking was that inventory would increase from record-low levels and put an end to the bidding wars that have driven home prices up over the past twelve months. However, that increase in inventory has yet to materialize. The National Association of Realtors (NAR) reports that there are currently 410,000 fewer single-family homes available for sale than there were at this time last year.

This has forced those who made appreciation forecasts this past January to amend those projections. The Mortgage Bankers Association, Fannie Mae, Freddie Mac, the National Association of Realtors, and Zelman &…

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Patience in Real Estate

The question many homebuyers are facing this year is, “Why is it so hard to find a house?” We’re in the ultimate sellers’ market, which means real estate is ultra-competitive for buyers right now. The National Association of Realtors (NAR) notes homes are getting an average of 4.8 offers per sale, and that number keeps rising. Why? It’s because there are so few houses for sale.

Low inventory in the housing market isn’t new, but it’s becoming more challenging to navigate. Danielle Hale, Chief Economist at realtor.com, explains:

The housing market is still relatively under supplied, and buyers can’t buy what’s not for sale. Relative to what we saw in 2017 to 2019, March 2021 was still roughly 117,000 new listings lower, adding to the…

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It’s that time of year again! The cold temperatures have officially passed and we are no longer cooped up inside making our homes a bit dirtier than usual. You know where we are going with this...your home is ready for a deep spring cleaning!

We spent more time inside this past year than ever before. That means some areas you may skip over during your daily and weekly tidying actually need more attention than usual.

It can seem daunting to really clean your whole house. There are just so many areas dirt and dust can gather; how do you really get things fully sanitized without spending days cleaning?

We have some spring cleaning tips for you to help make the process easier! What is the first space in your home that could benefit from spring…

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When it comes to making chores more bearable, creating a more functional and beautiful space surely helps. We all know laundry ranks pretty high on the list of “least favorite chores” considering it’s basically never-ending. Today’s article features a few of our favorite laundry room remodels to help you create a room that isn’t so dreaded!

We think the laundry room (or space where the washer and dryer live - the mudroom, the garage, it can vary) should be a well-organized spot that also shows personality and! We rounded up some must-haves for creating a functional space that makes doing chores a bit easier and helps improve resale value.

For folks with an actual laundry room: raise your hand if yours has one or two wire shelves above the washer and…

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