01 Oct Mortgage News Roundup for Autumn
Some new rankings for Charlotte’s favorite suburbs have been released. In the Cape Fear area, real estate experts have weighed in on the status of the housing market post-Hurricane Florence. Further south, Kiawah Island’s real estate market is setting records. Here is more on the mortgage news stories that we are watching:
Top Suburbs in the Charlotte Region
Charlotte and surrounding areas have been growing quickly over the past decade since the economic downturn of 2008. It is no surprise that many residents are getting priced out of some of the most popular neighborhoods and, as a result, are looking further out into the “burbs” for their dream home. Other factors driving people to check out the towns around Charlotte are strong primary education options and welcoming communities. “Desirability, development, political clout, coolness and amenities” are the key indicators used to rank the locales. The top 10 suburbs were:
- Fort Mill, SC
The Residential Real Estate Market in the Cape Fear Region After Florence
Believe it or not, fewer than 14 days removed from Hurricane Florence making landfall, real estate agents in the Cape Fear area were out and about showing homes. Not only are they now hosting open houses and giving home tours; they are also selling properties. Not to gloss over the destruction and damage that this region experienced, but the overall feeling in the industry is that the real estate market will bounce back relatively soon. However, real estate companies and organizations are urging buyers to take their time and make sure to be thorough as they inspect properties, to ensure they are still in the same condition they were before the hurricane. Experts expect sales to be relatively slow for September and October, and as the market starts to rebound, normal sales and activity should resume by November and December.
Six Months into 2018, Kiawah Island was Seeing Strong Real Estate Sales
According to Kiawah Island Real Estate, residential home sales were up 17% for the first half of the year compared to 2017. Kiawah Island Real Estate is the main firm in the area and handles most of the sales on the island. The sales numbers consisted of homes, villas, cottages and lots. During this time period, 147 properties sold, and actual recorded sales exceeded $188 million. This year’s numbers are the best the island has seen in over 10 years.
With so much activity in the Carolinas, isn’t it time that you partnered with the best? Our service and communication are top-notch. At Fairway Independent Mortgage of the Carolinas, we treat your real estate customers like you do — with fairness and with their best interests at heart. They are our priority, as is closing loans quickly with no surprises. Let us change how you think about mortgages.
Dunn, Andrew. “The Charlotte suburb power rankings.” Web blog post. Charlotte Agenda. 1 October 2018. Web 1 October 2018.
Nunn, Cece. “Home Sales: Expecting A Delay, Not A Crash.” Web blog post. WilmingtonBiz. 27 September 2018. Web 27 September 2018.
Wise, Warren. “New Kiawah Island investments top $1 billion.” Newsletter article. The Post and Courier Real Estate. 29 September 2018.