I was driving around my Charleston neighborhood this Sunday, went farther up Route 526 and ended up in Summerville. That’s about a half an hour drive from where I live. It’s not bad driving since there is no traffic here in this part of South Carolina. Just be careful with these crazy drivers on 526 and you’ll be fine. Anyway, I was surprised to see a number of fairly brand new houses for sale. Imagine, with the current mortgage rates at historic lows, I’m sure these houses that are on sale in the range of $100k’s to $150k’s are pretty affordable. In fact, when I got back to my apartment, I checked some of the addresses and some of them were selling for even less than $100k. Of course, I still have to do a lot of researching to do. I’m not sure if these prices were driven down by certain factors given the real estate downturn or that these are the actual fair market values of these houses. It’s not that I’m looking to buy a house right now. Mortgage rate bottomed out at 4.44% a few weeks ago and I just felt that with the mortgage rate bottoming out, who knows if there would be opportunities that might come along the way.
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