What Caused the Mortgage Meltdown in South Carolina? The Housing Crisis in Columbia?
January 29, 2008 FSBO, Lake Murray, Midlands, Richland, ballentine, bank of america, blythewood, bofa, buyer, buying, chapin, columbia, cow lady, credit, first time, first time buyer, home, home owner, house, housing market, irmo, jeffcoat, kathy smith, lexington, mortgage, prices, problems, real estate, realtor, relo, relocation, russell, sc, seller, selling, south carolina No CommentsFor 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.
Part One:
Be sure to click “read the rest” to see part two of this fascinating report!
For many of us in Columbia, South Carolina, we are thinking of the spring early. Since we aren’t locked indoors due to snow, cold or other inclement weather, those of us in South Carolina get to enjoy a temperate climate (and the potential to work year round on construction projects). The question remains, though…do YOU have what it takes to live in a construction zone? 
All right, so maybe we won’t be seeing the headline that ALL dogs are banned as a companion in Columbia, South Carolina right away. However, if the current Breed Specific Legislation that is being worked on currently in Richland County goes through as planned, it could become a reality for some dog owners of specific breeds identified as having “vicious” tendencies. I was shocked to see in the recent Richland County Council minutes that Councilwoman Valerie Hutchinson is working on such laws as I write this. As many of you know, I am passionate about animals and especially the rights to have a canine companion. 
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. 
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?
