We posted a blog just several weeks ago with the number of foreclosures in our tri-county market -- at that time there were 327 active foreclosures -- today, as of this blog posting, the number of active foreclosures has decreased to 276. What does this say about our market? Our real estate market has seen the worst of the housing crisis and has turned the corner! It's been a long time coming but, all indicators are that our local economy is beginning to show positive signs of improvement. This is much in part to the industry coming to our area due to the new Boeing facility in North Charleston. Recently, Boeing announced that it had received an order for 100 additional airplanes to be built out of the North Charleston facility and, it's now in a hiring frenzy to meet the demand!
If you're on the fence about buying a home in the Charleston market -- there's no time like the present. While other markets are seeing an increase in foreclosures, our foreclosure inventory is declining. This will have a direct impact on home values throughout the tri-county area. With less foreclosures to push the values down, our home values will begin a slow and steady climb out of the hole they've been in for the past few years.
For information on buying a property in the Charleston area, feel free to contact us at 843-343-7640 or email at teamdehaven@century21properties.com.
Best,
Melanie & Jed DeHaven, Century 21 Properties Plus, Inc.