A Lender, Lawyer and Leader answer a frequently asked question.

Are we seeing glimpses of a recovering local real estate market?  Is it a seasonal difference?

Gooden + Faircloth asked three Mt Pleasant real estate industry authorities the same question our team is asked virtually everyday, “How’s the local real estate market?”

Bobby Green – Bank of America Mortgage Loan Officer
“Rates are holding under 5.0% with no points and no origination fees.
Home showings have picked up and so have Pre-Approvals.  This Spring is going to be the “Turn” in the Real Estate Market.  Plus, the Homeowner Affordability and Stability Plan is starting to be implemented.  This will help everyone refinance into lower rates.”

Rick Brownyard – Real Estate Attorney
“Money magazine has pegged the Charleston Market at within .one tenth of 1% from the market bottom and to be amongst the first 25 major markets to begin sales and price increases beginning the third quarter of this year. That seems to be borne out by the increased number of purchase closings that we are handling and is probably is being boosted by the great interest rates available right now. This really seems like the time to buy for those who have been wavering.”

Rob Woodul – Keller Williams Mt Pleasant Market Center Leader
” We are currently seeing activity that we haven’t seen since June of last year.  Showings are way up and contracts, at least for our office, are on the rise. So what is driving this?  Well in my opinion the $8000 dollar tax credit for first time home buyers is moving more people off the fence.