When you look at the numbers today, the one thing that stands out is the strength of this housing market. We can see this is one of the most foundationally strong housing markets of our lifetime – if not the strongest housing market of our lifetime. Here are two fundamentals that prove this point. 

1. The Current Mortgage Rate on Existing Mortgages

First, let’s look at the current rate on existing mortgages. According to the Federal Housing Finance Agency (FHFA), as of the fourth quarter of last year, over 80% of existing mortgages have a rate below 5%. That’s significant. And, to take that one step further, over 50% of mortgages have a rate below 4% (see graph below):

Now, there’s a lot of talk in the media about a potential…

426 Views, 0 Comments

Read Full Post



Today’s mortgage rates are top-of-mind for many homebuyers right now. As a result, if you’re thinking about buying for the first time or selling your current house to move into a home that better fits your needs, you may be asking yourself these two questions: 

  1. Why Are Mortgage Rates So High?
  2. When Will Rates Go Back Down?

Here’s context you need to help answer those questions.

1. Why Are Mortgage Rates So High? 

The 30-year fixed-rate mortgage is largely influenced by the supply and demand for mortgage-backed securities (MBS). According to Investopedia: 

“Mortgage-backed securities (MBS) are investment products similar to bonds. Each MBS consists of a bundle of home loans and other real estate debt bought from the banks…

449 Views, 0 Comments

Read Full Post



With all the headlines circulating about home prices and rising mortgage rates, you may wonder if it still makes sense to invest in homeownership right now. A recent poll from Gallup shows the answer is yes. In fact, real estate was voted the best long-term investment for the 11th consecutive year, consistently beating other investment types like gold, stocks, and bonds (see graph below):

If you’re thinking about purchasing a home, let this poll reassure you. Even with everything happening today, Americans recognize owning a home is a powerful financial decision.

Why Do Americans Still Feel So Positive About the Value of Investing in a Home?

Purchasing real estate has typically been a solid long-term strategy for building wealth in…

1113 Views, 0 Comments

Read Full Post



During the fourth quarter of last year, many housing experts predicted home prices were going to crash this year. Here are a few of those forecasts:

Jeremy Siegel, Russell E. Palmer Professor Emeritus of Finance at the Wharton School of Business:

“I expect housing prices fall 10% to 15%, and the housing prices are accelerating on the downside.”

Mark Zandi, Chief Economist at Moody’s Analytics:

"Buckle in. Assuming rates remain near their current 6.5% and the economy skirts recession, then national house prices will fall almost 10% peak-to-trough. Most of those declines will happen sooner rather than later. And house prices will fall 20% if there is a typical recession.” 

Goldman Sachs: 

“Housing is already cooling in the U.S.,…

393 Views, 0 Comments

Read Full Post

MARKET UPDATE - May 2023


Existing-home sales slid for the second consecutive month, falling 3.4% nationwide as of last measure, according to the National Association of REALTORS® (NAR), as higher interest rates continue to impact buyer affordability. Sales are down 23% compared to the same period a year ago, while contract signings dropped 20.3% year-over-year. With sales cooling, buyers in some parts of the country have found relief in the form of declining sales prices, which are down 1.7% year-over-year nationally, although more affordable markets continue to see price gains.

While fluctuating interest rates have pushed some buyers to the sidelines, a shortage of inventory is also to blame for lower-than-average home sales this time of year, as…

1093 Views, 0 Comments

Read Full Post

Spectacular Fireworks Displays and Events: Where to Watch the Sparkling Shows and Catch the Best Events in the Lowcountry on July 4th

Fireworks in Bluffton

With July 4 just around the corner, the Lowcountry and Coastal Empire is buzzing with excitement as we gear up for a spectacular lineup of events and festivities. From vibrant parades and dazzling fireworks displays to live music performances and mouthwatering food festivals, there's something for everyone to enjoy. So mark your calendars and join us as we come together to honor our nation's freedom and create unforgettable memories on this joyous occasion. Get ready for an action-packed, star-spangled celebration like no other!

July 4th Activities in the Lowcountry

Salute from the Shore 2023 

Salute from…

2030 Views, 0 Comments

Read Full Post

 



Comparing real estate metrics from one year to another can be challenging in a normal housing market. That’s due to possible variability in the market, making the comparison less meaningful or accurate. Unpredictable events can have a significant impact on the circumstances and outcomes being compared. 

Comparing this year’s numbers to the two ‘unicorn’ years we just experienced is almost worthless. By ‘unicorn,’ this is the less common definition of the word:

“Something that is greatly desired but difficult or impossible to find.” 

The pandemic profoundly changed real estate over the last few years. The demand for a home of our own skyrocketed, and people needed a home office and a big backyard. 

  • Waves of first-time and…

429 Views, 0 Comments

Read Full Post

Memorial Day in the Lowcountry

On behalf of everyone at Charter One Realty, we would like to take a moment to wish you a happy Memorial Day weekend! We extend our deepest gratitude to all our service members, veterans, and their families for their sacrifices and dedication. Your bravery will always be remembered. As we enjoy this long weekend, let's take a moment to reflect on the true meaning of Memorial Day. Join us in observing a National Moment of Remembrance at 3:00 PM to honor the fallen heroes.

This Memorial Day weekend, there are several events and activities taking place that you might find interesting:

  1. Memorial Day Parades: Many cities and towns organize parades to commemorate the holiday. Check your local community's website or newspaper for information on…

1047 Views, 0 Comments

Read Full Post

Southern Living Cover June/July 2023

Coastal Getaways - Southern Living Magazine Article

Hot off the Press: Daufuskie Island has not only graced the cover of Southern Living Magazine but has been featured in the article "Coastal Getaways - Under the Radar Beach Towns, Islands, and Communities."

This picturesque island, known for its unspoiled beauty and charming southern charm, has caught the attention of one of the most prestigious magazines in the South. This in-depth feature explores the island's unique history, breathtaking scenery, and the vibrant community that calls it home.

Discover the hidden treasures of Daufuskie Island through the lens of Southern Living's talented writers and photographers. Immerse yourself in the captivating stories and visuals showcasing the…

855 Views, 0 Comments

Read Full Post



The National Association of Realtors (NAR) will release its latest Existing Home Sales Report tomorrow. The information it contains on home prices may cause some confusion and could even generate some troubling headlines. This all stems from the fact that NAR will report the median sales price, while other home price indices report repeat sales prices. The vast majority of the repeat sales indices show prices are starting to appreciate again. But the median price reported on Thursday may tell a different story. 

Here’s why using the median home price as a gauge of what’s happening with home values isn’t ideal right now. According to the Center for Real Estate Studies at Wichita State University:

“The median sale price measures the ‘middle’…

1452 Views, 0 Comments

Read Full Post