Since February 15th, 3 more homes have gone under contract in I’On, bringing the total to 8 for the month. This follows up a strong January in which 6 homes went under contract. The I’On real estate market is off to a very good start in 2008! The homes that went under contract last week with their asking prices are below. Click on the address for more information on the home.

230 Ponsbury – $649,900
44 Perseverance – $695,000
35 John Galt Way – $1,150,000

Stay tuned for more information in the next few days as we close out the month of February. Also, go to ionhomeinfo.com to see all available homes on the market in I’On and to search for homes in other parts of the Charleston area.

Wow! The I’On real estate market continues to be quite active. Just this week (February 11-15), we have had 4 more homes go under contract in I’On. They are listed below:

58 Sowell St. (asking price $649,000)
44 Rialto (asking price $910,000)
11 Krier (asking price $1,197,000)
40 Perseverance (asking price $1,199,000)

In addition, 2 houses closed this week:

158 N. Shelmore – sale price $779,000
198 N. Shelmore – sale price $1,100,000

I’m continuing to see an increase in showing activity in I’On in recent weeks which indicates to me that there are alot more active buyers in the market than we have seen in a while. As we move into the spring season, this trend should continue. While we are clearly in a softer real estate market in I’On and other communities in Mt. Pleasant, there is still some positive news. Don’t believe everything the national press would like for you to. People are still buying and selling in I’On.

Please feel free to visit my website more information on homes for sale in the neighborhood. And, if you haven’t subscribed to this blog yet, please feel free to do so below. You will receive email updates any time I post a new message.

Interest rates change constantly, but it is important to know that rates are cyclical. If rates are currently at historical lows then we know there is a strong probablility rates will go up again, and vice versa. Certain economic indicators such as unemployment data, consumer price index, retail sales data, and consumer confidence all have an effect on mortgage interest rates. But the key factor to watch is the relationship between STOCKS and BONDS.

When the economy is slow and the stock market is “bearish,” many investors move money out of stocks and into bonds and mortgage-backed securities. This causes mortgage interest rates to go down. When the economy is doing well, the stock market rallies and is considered “bullish.” Investors then have a tendency to move their money out of that safe haven of bonds and mortgage-backed securities and back into stocks. As a result, mortgage interest rates go up.

The moral of the story? When the Fed cuts their rate, mortgage interest rates do not necessarily go down in concert with the Fed rate.

Thank you to Lorcan Lucey with Lucey Mortgage for this insight into mortgage rates!

So far in 2008, there have been 4 homes go under contract in Belle Hall. These have not closed yet, but I have listed them below with their asking prices:

307 Old South Way – $358,500
558 Palmetto Battery – $372,000
528 Country Place – $829,000
456 Barbadian Way – $989,000

Three homes have closed so far in 2008:

464 S. Piazza Ct. – $279,000
462 Antebellum – 313,900
724 Hibbens Grant – $539,000

What is interesting is that the inventory of homes in Belle Hall has quickly risen since the beginning of the year to 54 homes. This is up from 36 at the start of the year. You can check out all available homes in the neighborhood by going to http://www.bellehallhomeinfo.com/ and you can also subscribe to my postings at the bottom of this page.

Since my last update, 3 more homes have gone under contract in I’On. This brings the total to 8 homes that have been contracted for since January 1st. Not bad for only 36 days of activity! Most of these won’t close for a while yet, but as they do, I will keep you updated. So far this year, there have been 3 homes close in I’On:

150 Ionsborough – $722,500 (asking price was $749,000)
55 Sanibel – $899,500 (asking price was $949,000)
224 Ponsbury – $676,000 (asking price was $749,000)

While we’re off to a reasonably good start to the year, inventory is starting to “creep up” again. As of today, there are 86 homes on the market in I’On. This is up from 80 just 3 weeks ago. I suspect that this number will grow even higher in coming weeks as more people put their house on the market for the spring season. It should be an interesting year. Don’t forget….you can always see everything that’s available in I’On by going to http://www.ionhomeinfo.com/

You can also subscribe to my posts via email at the bottom of this page.

Wow! The I’On real estate market continues to be quite active. Just this week (February 11-15), we have had 4 more homes go under contract in I’On. They are listed below:

58 Sowell St. (asking price $649,000)
44 Rialto (asking price $910,000)
11 Krier (asking price $1,197,000)
40 Perseverance (asking price $1,199,000)

In addition, 2 houses closed this week:

158 N. Shelmore – sale price $779,000
198 N. Shelmore – sale price $1,100,000

I’m continuing to see an increase in showing activity in I’On in recent weeks which indicates to me that there are alot more active buyers in the market than we have seen in a while. As we move into the spring season, this trend should continue. While we are clearly in a softer real estate market in I’On and other communities in Mt. Pleasant, there is still some positive news. Don’t believe everything the national press would like for you to. People are still buying and selling in I’On.

Please feel free to visit my website more information on homes for sale in the neighborhood. And, if you haven’t subscribed to this blog yet, please feel free to do so below. You will receive email updates any time I post a new message.