I know it seems like forever and a day that we’ve been talking about just how down the economy is and how there’s so much uncertainty about everything financial, but believe it or not, right now is a GREAT time to buy a house in the Fort Mill or Rock Hill SC area.
Here are 5 reasons why I believe it’s such a great time to buy a Fort Mill or Rock Hill SC house:
- It’s a buyer’s market. I don’t think this one comes as any surprise, but today’s buyers have an opportunity to dictate a lot of the transactions. While you should still expect to pay a fair market value, given the state of the economy overall today’s fair market value is considerably lower than what it has been. As a result, there are some real gems available for those willing to do the work and find them.Or you could simply hire a savvy Fort Mill real estate agent to do all of the hard work for you. 😉
- Interest rates are still at all-time lows. I personally don’t remember the days when interest rates where close to 20% so I can’t really speak from personal experience, but I do know that any time interest rates are around the 5% mark we’re dealing with some very inexpensive loans.All of the banks have definitely cracked down on just giving away loans so you’ll need to have good credit and the ability to pay, but that should really go without saying anyway.
- All of your competition is on vacation. With the summer in full swing a lot of your home buying competition is at the beach, in the mountains, or over the river and through the woods to visit dear old grandma. As a result, you’re less likely to face competition when bidding on that new home of your dreams.
- The Fort Mill and Rock Hill SC real estate markets are relatively strong. Unlike other areas of the country, the Charlotte metro area has remained relatively strong, in spite of the many job losses we’ve experienced.York County has done a great job of bringing in new companies and with some of the highest rated schools in the state of South Carolina, chances are we’ll continue to see an influx of people moving to the Fort Mill and Rock Hill area, either for jobs or simply to escape much of the chaos that is the Charlotte Mecklenburg school system.
- The school year is rapidly approaching. As summer moves towards the fall season, it means that school will soon be in session. Whether you’re hoping to get a child enrolled in one of SC’s highest rated school districts or the home seller is looking to be moved out before the school year starts, right now is definitely the time to take action.Remember, it takes 30-45 days to close on a typical residential real estate transaction, which means you’ll need to get moving soon in order to beat the school bus to the corner!
Finally, just keep in mind that any time there is uncertainly and ‘gloom and doom’ talk about the economy it means there are LOTS of great deals available for those willing to put in the time and effort required to uncover them. With a little bit of real estate knowledge and experience (or having someone on your side that has these), you can find that perfect new house that you’ll be able to enjoy for many years to come.