Homes Fort Mill SC

There is good news mixed with bad. The 12 month through March 2008 S&P/Case-Shiller Home Price Index report released yesterday showed national home values are still in a decline. The national average decline is 14%.

The good news is Charlotte is one of the 20 urban metro market areas showing increases. The Charlotte metro market includes Fort Mill, Tega Cay, Lake Wylie and other outline areas or suburbs.

Our home values in the area have shown modest growth in the last few years which maybe the reason for positive home value growth instead of decreases in todays economy. Charlotte area home prices rose less than one percent but at least it is on the plus side.

More good new, home sales have increased slightly in the the northeast. So why is this good news for us southerners? (more…)

The quick answer is yes. It seems to be a buyers market for home sales almost everywhere thanks to the media. The media pounds us everyday with bad news about the credit industry, foreclosures, high gas prices, the weak dollar, etc. Some of it is true and some is, well just over exaggerated to say it nicley. So most potential home buyers today think it is a buyers market no matter where they are looking. But we still have a lot of people looking at homes for sale in our area.

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The Federal Housing Administration (FHA) has increased the loan limits for the Charlotte Metro Area. This includes YORK County, SC. This increase is a much needed expansion for FHA loans in the Charlotte market. Families needing a larger home that have limited funds for making a down payment can still get a quality fixed rate loan. FHA offers 97.75% financing, meaning that only 2.25% of the purchase price must be paid by the home buyer as a down payment. An additional .75% of the purchase price would then have to be paid by the home buyer towards closing costs, which brings the total required cash investment for a home buyer to only 3%! (more…)