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zizou510
225 Posts |
 Posted - 04/07/2008 : 11:50:40 AM
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| How is the Charleston South Carolina area? Is it a declining market? Thinking about moving from California and that is where the dart landed. Any good shops looking for a LO in Charleston? |
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zizou510
225 Posts |
Posted - 04/07/2008 : 11:56:24 AM
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| I live in Palm desert Ca, 120 during the summer |
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clarenceworley
4358 Posts |
Posted - 04/07/2008 : 12:00:19 PM
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| Beautiful area, my wife sings in the Spoleto Festival each year.(Except this year) |
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adscott
3 Posts |
Posted - 04/07/2008 : 12:37:07 PM
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Charleston South Carolina is an amazing city, I have lived here for 10 years and been a mortgage consultant for a little over 4 years now. We aren't dealing with the same problems as you are over in California with declining markets. Some home values have declined but nowhere near what you are experiencing there and in some other parts of the country.
We are however dealing with the same problem as everyone else, which is that lenders really don't seem like they want our business anymore. They are making it so hard to get approved it is ridiculous. I am sure you wouldn't have a hard time finding a company looking for a LO. |
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coopercash
2742 Posts |
Posted - 04/07/2008 : 1:09:55 PM
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I too have lived in Charleston, SC since 1998 and it's a fabulous City! Even though the local economy is strong, diverse and growing the area has still evidenced a dramatic reduction in the number of closings as compared with 18-months or more ago.
Most of the decline is due more to a much higher "fall out" of prospective buyers being unable to qualify for financing than a lack of demand. More than a few areas in the market have NOT evidenced any significant reduction in values but some have... notably the Mount Pleasant area and Isle of Palms which have seen a 20% price drop on homes above $400K and most SFRs in that area are $700K and above.
Charleston, Dorchester and Berkeley Counties are certainly not engaged in a foreclosure frenzy as yet.
Yes, there has been a major reduction in numbers of active realtors and MBs and LOs because the available business has shrunk.
TIP: One of the hottest RE markets in the Country still continues to be Norfolk VA which is also a coastal Atlantic City. Maybe that would offer you a lower risk environment. |
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zizou510
225 Posts |
Posted - 04/07/2008 : 2:52:56 PM
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| bump anyone know of a good broker shop in Charleston? |
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Hokie90
191 Posts |
Posted - 04/07/2008 : 3:04:32 PM
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Cooper,
Several MI companies list Norfolk/Va Beach area as a declining market.
My dad lives in the area and I too was thinking of relocating. But chose not to because of the market. Do you have any data to support your assertion.
Thanks, Mike |
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coopercash
2742 Posts |
Posted - 04/07/2008 : 3:15:03 PM
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Currently, one the the busiest "shops" in the Charleston market is 1st Palmetto Mortgage.
Contact Bobby Downey at 843-284-1200 (bdowney@1stpalmetto.com). Corporate office is in Greenville SC and Senior VP is J.D. Nelson, III 864-331-2212 (jd@1stpalmetto.com)
Why are they busy? They have a great weekly live radio talk show on the #1 FM talker (WSC 94.3FM)in this market which has a huge coverage area! Same dial position carries Rush Limbaugh, The Glenn Beck Show and Lou Dobbs.
Good luck! |
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coopercash
2742 Posts |
Posted - 04/08/2008 : 04:33:12 AM
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Michael... one of investors groups has just completed a very thorough review of the Norfolk market with regard to funding a new mixed use hi-rise condo tower. Given the strong presence of Federal employment, naval and supporting private sector sub-contractors there was sufficient positive evidence to bring the project to the funding commitee.
Just like Charleston, SC which is in general "good health" there will be areas that are suffering from varying degrees of real estate softness. However, unlike immediate market conditions, when considering a major development project that will be on a 36-month journey to completion, one is forecasting a recovering market within that timeframe. |
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zizou510
225 Posts |
Posted - 04/09/2008 : 06:52:32 AM
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anyone else?
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scbullgator
2 Posts |
Posted - 04/09/2008 : 11:37:00 AM
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| I run my own broker shop in Charleston and agree with other posts. Beautiful place and good market. It all about networking and estblishing those relationships with realtors and vendors who are producers and work. We are closing 10 units a month, and have replenished our lender list. |
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zizou510
225 Posts |
Posted - 04/09/2008 : 12:28:34 PM
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scbull,
are you looking to add more lo's to your office? |
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scbullgator
2 Posts |
Posted - 04/09/2008 : 12:49:56 PM
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| Yes, Looking for 2 LO's now.. |
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zizou510
225 Posts |
Posted - 04/09/2008 : 12:55:43 PM
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| do you have a e-mail or phone number |
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