For those of you who have read this blog for a while, you know I think the whole concept of having some sort of meltdown or crisis in the real estate economy is a bunch of “hooey”.  Perhaps I’m a bit spoiled, here in Columbia, South Carolina where the market is basically insulated from any wild swings in property values.  However, for those that are convinced we are in crisis mode, this two-part video is just for you.

As the latest stimulus package is winding its way through Congress right now, more details are coming out.  In addtion to taxpayers getting up to $1,200 in checks, there’s also a part of the plan that will temporarily raise the conforming loan limits for Fannie Mae and Freddie Mac.  This package targets major metro areas with high housing costs. 

With a median price of around $140,000, Columbia, South Carolina is nowhere near the ceiling for either program.  However, the programs will allow the new limit to be 125% of the median price range.  No matter how you slice it, this plan is great news for buyers and those of us in the real estate industry.

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It is absolutely amazing the stories and headlines that have been in the press lately.  They are screaming about the economy heading into a recession and are finding new and innovative ways to help out ‘the common man’.  Granted, the Columbia, South Carolina  economy is doing very well, thank you…but who am I to turn down free money like this?

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When the Fed announced they were cutting their rate to  loan money to banks, I knew those of us In South Carolina were about to get a huge gift from good old Uncle Sam.  Shortly after, I started seeing rates of 5.5% for a 30 year, fixed mortgage.   But is this too good to be true?  Could it last?  What could it mean to the larger economic picture? Read the rest…

Here’s a snippet from a press release issued today:

During today’s Russell & Jeffcoat Realtors Awards Breakfast ceremony, Kathy Smith was recognized for her sales achievements in 2007. Read the rest…

Today I attended a meeting held by the Relocation Department of Russell & Jeffcoat Realtors.  It was interesting to listen to experiences other agents have had with their incoming or outgoing relocating clients.  Each one remarked about the high levels of customer service their clients encountered with our Relocation Staff.  “Going above and beyond the call of duty” isn’t something just talked about in meetings, it is a philosophy by those in that department. Read the rest…

Please forgive the pun, but for once homeowners in Columbia, South Carolina now can breathe a little easier. Announcing a five year freeze on mortages with “teaser” rates, President Bush unveiled a plan today that keeps rates locked in for those who need it most. Read the rest…

What exactly is the current situation in the Columbia or also known as the Midlands, South Carolina housing market? I researched the period of November 1 - November 30th to see where we stand as a marketplace. I have looked at the entire market, from Columbia to Irmo, Chapin and Lexington, Blythewood to Newberry County to Kershaw County to Aiken and Orangeburg.

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There has been a lot of commotion about the new “Credit Freeze” laws that have been enacted as of November 1, 2007 that give consumers more control over who views their credit reports and why.  However, the state of South Carolina is not one of the states in compliance with these laws which are mandated on a state-by-state basis.    The states that have adopted a consumer credit freeze law allow you the right to completely freeze all activity on your credit report, for a fee.  South Carolina residents are getting freezes from credit reporting agencies on a “voluntary” basis.  Read the rest…

So, you’re ready to take on finding that perfect home here in Columbia. Talking with your Realtor, they mention things about latent defects, state disclosures and home inspections - but what does it all mean?

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