The following article appeared in the Wall Street Journal, written by June Fletcher: What if You Don’t Qualify?  On Tuesday the Federal Housing Finance Agency — noting that foreclosures have increased 150% over the last two years — announced a new streamlined plan to try to staunch the “downward spiral” of foreclosures by modifying loan [...]

The Dow closed today at 8851. In October of last year, the Dow had reached a milestone of over 14,000.  Many people, myself included, open mutual fund statements with great trepidation…in fact, I haven’t even looked at statements over the past couple of months, as we are in for the long haul and expect ups [...]

The following paragraph appears in Wikipedia when you look at the topography of Charleston, SC: “According to the United States Census Bureau, the city has a total area of 347.5 square kilometers (134.2 sq mi). 251.2 km2 (97.0 sq mi) of it is land and 44.3 km2 (17.1 sq mi) (15%) of it is water. [...]

Current market summary for Thursday, November 6th.  Interest rates improved the day before the election.  Unemployment numbers come out this Friday and will be an indicator of which direction rates will go.  Currently the 30 year fixed mortgage is 5.875% with 1 pt origination.    FHA and VA Financing Available!!!   Call Jen Morris for [...]

If you haven’t seen 7 Conch Court in Wild Dunes, you should take a look!  This is a well maintained one level home, just a short walk to the beach!  Beautiful heart pine floors throughout…..brand new hurricane shutters (for protection and lower insurance rates!), lovely paint scheme, fireplace and built in shelves…..this house is move [...]

Weekly Mortgage Review November 5, 2008   Last Week Although the US economy has been widely speculated to already be in a recession, the first hard core signs appeared in this morning’s 3rd Quarter Advance GDP. The textbook definition of a recession is two consecutive quarters of negative GDP…and this morning’s report showed the economy [...]

Happy Halloween!  The Isle of Palms carnival will take place tomorrow, Oct.31st, at the Rec Department from 5pm until 7pm.  Remember that little ghosts and goblins will be walking or being carted (on golf carts) around  our neighborhoods tomorrow night, so drive carefully and watch out for them!

As housing prices have fallen, many wonder if we’ve hit bottom, or will prices continue to drop?  No one can answer that question-there are predictions that the housing market won’t recover until 2010, while others say that our Charleston market didn’t really feel the effects as other areas in the country did. If you’re trying [...]

I don’t know about you, but I’m ready for the Presidential election to be over.  We are officially one week away- I have never seen such division….so much negativity……so much bias in the media.    Maybe it’s the fact that we have cable news, internet news, talk radio, etc- so much more exposure than in the past.  [...]

Mortgage Rates Improve While the headlines were focused on the poor performance of the stock market, mortgage rates improved moderately during a volatile week. Mortgage rates were helped by a couple of factors. Seeking to reduce risk, investors sold stocks and moved the funds into relatively safer Treasury bonds and government guaranteed mortgage backed securities. [...]