Charter One Realty Blog - Paige Rose

Two Graphs That Show Why You Shouldn’t Be Upset About 3% Mortgage Rates

With the average 30-year fixed mortgage rate from Freddie Mac climbing above 3%, rising rates are one of the topics dominating the discussion in the housing market today. And since experts project rates will rise further in the coming months, that conversation isn’t going away any time soon.

But as a homebuyer, what do rates above 3% really mean?

Today’s Average Mortgage Rate Still Presents Buyers with a Great Opportunity

Buyers don’t want mortgage rates to rise, as any upward movement increases your monthly mortgage payment. But it’s important to put today’s average mortgage rate into perspective. The graph below shows today’s rate in comparison to average rates over the last five years:

As the graph shows, even though today’s…

654 Views, 0 Comments

Experts Project Mortgage Rates Will Continue To Rise in 2022

Mortgage rates are one of several factors that impact how much you can afford if you’re buying a home. When rates are low, they help you get more house for your money. Within the last year, mortgage rates have hit the lowest point ever recorded, and they’ve hovered in the historic-low territory. But even over the past few weeks, rates have started to rise. This past week, the average 30-year fixed rate was 3.14%.

What does this mean if you’re thinking about making a move? Waiting until next year will cost you more in the long run. Here’s a look at what several experts project for mortgage rates going into 2022.

Freddie Mac:

“The average 30-year fixed-rate mortgage (FRM) is expected to be 3.0 percent in 2021 and 3.5 percent in 2022…

672 Views, 0 Comments

Winter Events in the Lowcountry

Fall and Winter Events in the Lowcountry. Take a look at some of the exciting events planned for our area. Click here to jump to Beaufort events. 

Hilton Head Island and Bluffton Events

All Month Long

The Coastal Discovery Museum provides tours, walks, programs, and exhibits about the Lowcountry. Events are scheduled daily. To learn more about the Coastal Discovery monthly events, contact 843-689-6767 or visit CoastalDiscovery.com.

Hilton Head Island Farmers Market

The Hilton Head Farmers Market gathers every Tuesday from 9:00 am-1:00 pm at the Coastal Discovery Museum's Honey Horn campus. The HHI Farmers Market roster includes area growers providing the freshest local produce, pasture-raised chicken, fresh eggs, free-range rabbit,…

1454 Views, 0 Comments

Lowcountry Real Estate Market Report - October 2021

The U.S. housing market remains robust, with strong activity reported across both rental and residential housing fronts. Single-family rent prices are increasing rapidly, as demand for single-family housing and inventory constraints forces some buyers to rent, increasing competition and pushing rents up across the nation. Meanwhile, sales of new construction single-family homes recently hit a six-month high, rising 14% to a seasonally adjusted rate of 800,000, according to the latest data from the U.S. Department of Housing and Urban Development. 

As temperatures drop, existing home sales continue to be plentiful, buoyed by strong demand, low interest rates, and a slight uptick in new listings in recent months, according to the National Association of…

1299 Views, 0 Comments

Signature Sales October 2021 - Charter One Realty

Charter One Realty's consistent investments on behalf of Buyers, Sellers, and Communities for over three decades pay dividends for our clients. Like the international luxury brands, Charter One Realty employs world-class marketing with a global reach. 

But one need only look at actual sales in the area’s luxury communities, and at the area’s $1,000,000+ transactions to understand that Charter One Realty is the Lowcountry’s Leading Luxury Brand. 

Announcing our October 2021 Charter One Realty Signature Sales. Like the international luxury brands, Charter One Realty employs world-class marketing with a global reach. And when it comes to Luxury Properties, we dominate the market.

We successfully listed, marketed, and negotiated the sale of 23…

886 Views, 0 Comments

Charter One Realty Closes Four Oceanfront Homes in October

Hilton Head Island, SC, November 2021 – The luxury market is moving in Hilton Head Island, SC. In the past thirty days, Charter One Realty, a local brokerage serving the Coastal Lowcountry, closed four oceanfront homes on the Island with sale prices ranging from $3.7M to $7.4M.

23 Black Skimmer Road is a spectacular oceanfront home in Sea Pines offering 6 bedrooms, 6 full baths & 2 half baths. Two covered porches offer views of the private swimming pool and the Atlantic Ocean. The property sold for $7,475,000. The buyers were represented by The Wedgeworth Team with Charter One Realty.

23 S. Beach Lagoon Drive is a luxurious nine-bedroom home overlooking the ocean in Sea Pines. oceanfront home in Sea Pines offering 6 bedrooms, 6 full…

828 Views, 0 Comments

Supporting The Lowcountry: How to Give Back This Season

With so much going on in our lives and the world, it is important to make time for charitable giving. With the holiday season officially upon us, it is always nice to take a moment to reflect and appreciate the things we have. During that moment of reflection, think about the ways you are connected to the Lowcountry and how you could deepen the relationship by supporting your neighbors in need. 

Giving back during the holidays doesn’t always require funds. Finding charities that align with your beliefs means you can make your resources of time or money meaningful for the organization and your family as well.

Whether it’s supporting the community, keeping kids safe, finding homes for animals, maintaining our beautiful scenery, or something else dear…

610 Views, 0 Comments

Sellers Have Incredible Leverage in Today’s Market

With mortgage rates climbing above 3% for the first time in months, serious buyers are more motivated than ever to find a home before the end of the year. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), puts it best, saying:

"Housing demand remains strong as buyers likely want to secure a home before mortgage rates increase even further next year."

But the sense of urgency they feel is complicated by the lack of homes for sale in today’s market. According to the latest Existing Home Sales Report from NAR:

“From one year ago, the inventory of unsold homes decreased 13%. . . .”

What Does This Mean for Sellers Today?

With buyers eager to purchase but so few homes available, sellers who list…

889 Views, 0 Comments

Renters Missed Out on $51,500 This Past Year

Rents have increased significantly this year. The latest National Rent Report from Apartmentlist.com shows rents are rising at a rate much higher than the three years leading up to the pandemic:

“Since January of this year, the national median rent has increased by a staggering 16.4 percent. To put that in context, rent growth from January to September averaged just 3.4 percent in the pre-pandemic years from 2017-2019.”

Looking back, we can see rents rising isn’t new. The median rental price has increased consistently over the past 33 years (see graph below):

If you’re thinking of renting for another year, consider that rents will likely be even higher next year. But that alone doesn’t paint the picture of the true cost of…

578 Views, 0 Comments

The Mortgage Process Doesn’t Have To Be Scary

Some Highlights

• Applying for a mortgage is a big step towards homeownership, but it doesn’t need to be one you fear. Here are some tips to help you prepare.
• Know your credit score and work to build strong credit. When you’re ready, lean on your agent to connect you with a lender so you can get pre-approved and begin your home search.
• Any major life change can be scary, and buying a home is no different. Let’s connect so you have an advisor by your side to take the fear out of the equation.

660 Views, 0 Comments