Our very own Fort Mill SC was recently named to Business Week magazine’s “Best Affordable Suburbs” list.
According to the entry found on Business Week’s website:
“Fort Mill, SC, just south of the North Carolina border and 18 miles from Charlotte, is home to the Charlotte Knights’ baseball stadium. About 36% of residents are married with children. The average commute is 22 minutes.”
Here’s a link to the story:
Fort Mill SC Named to Business Week’s “Best Affordable Suburbs” List
Filed under Carolina Real Estate, Fort Mill SC, Life In the Carolinas, News Reports by 
As you probably know by now, President Obama managed to push through a $787 billion stimulus package. Included in this package is an $8,000 Home Buyer Tax Credit. In a nutshell, this is what it means:
- The tax credit is for first-time home buyers only or anyone who has not owned a home in the last 3 years.
- The tax credit does not have to be repaid.
- The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
- The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
- Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
My friend Geoff at New American Mortgage tells me that rates continue to be historically low and they are always more than happy to answer any additional questions you might have about buying your new house in the Rock Hill SC or Fort Mill SC area.
Straight from Geoff, here is a snapshot of the mortgage rates* from last Friday on the purchase of a new house:
Conventional -
30 Year Fix Rate is 4.500%, APR 4.790% (2 pts)
30 Year Fix Rate is 4.875%, APR 4.959% (1pt)
30 Year Fix Rate is 5.500%, APR 5.629% (0pts)
FHA/VA – Government -
30 Year Fix Rate is 4.625%APR 5.000% (1.5pt)
30 Year Fix Rate is 5.000%, APR 5.375% (1pt)
30 Year Fix Rate is 5.500%, APR 5.775% (0pts)
* Borrower must qualify and restrictions apply
Filed under Buy Your Dream House, Fort Mill SC, Home Buyers, Mortgage Rates, News Reports, Rock Hill SC by
Well, we knew it was bad, but I don’t know if anyone expected it to be THIS bad. According to Realty Trac as reported by Reuters, one in every 54 households got a notice regarding some type of foreclosure activity. Ouch.
James J. Saccacio, chief executive officer of RealtyTrac, said, “Clearly the foreclosure prevention programs implemented to date have not had any real success in slowing down this foreclosure tsunami.”
I guess one silver lining on this very dark cloud is the fact that the fourth quarter activity declined 4% when compared to third quarter activity, but when you consider the fourth quarter activity jumped 40% from 2007′s fourth quarter activity, it’s difficult to be too cheerful.
As far as our area, Rock Hill SC and Fort Mill SC, there was certainly a considerable amount of foreclosure activity. Most definitely a silver lining though, our rates of foreclosure aren’t anywhere near what they are in other parts of the country. Yes, we’re getting hit by this real estate meltdown, but it’s not nearly as ‘ugly’ as it is in other areas.
Filed under Carolina Real Estate, Market Trends, News Reports, Stats by
