Lake Keowee Real Estate Expert Blog Winter

It’s finally here around Lake Keowee; the frigid days of winter. We’ve been able to skirt any real cold weather for longer than seems normal, but I believe it’s finally arrived in earnest. Except, we’ll probably have some days in the 70’s in a couple of weeks because South Carolina weather likes to tease. So, maybe it’s arrived in some other word than earnest, maybe intermittently, maybe that’s normal. Don’t know, best thing we can do is be ready for any type of weather (except 90-degree weather …maybe???). AHHHHHH. It’s all very confusing. Shall we focus on real estate? Yes, let’s!

Folks are less likely to go out for a day on Lake Keowee currently. There are plenty of those die-hard fishermen out there doing their best impression of Nanook of the North (it’s amazing what clothing manufacturers can do with modern fabrics to keep us warm), but very few folks are just cruising around for the giggles. There will be some of that in a couple of weeks as we will have a few communities doing their annual Christmas lights on your boat show. Those are fun to watch from the shore, a little more taxing from the water (see Arctic literary character reference above), but fun for folks who are willing to go the extra mile in extending the Christmas spirit.

Wait, I said we were going to focus on Real Estate… I digress. Fear not, it shan’t happen verily. We had a closing last week (Yea!!!), we have two closings this week (Yea!!!), we have a few tours this week (Yea!!!), overall business is much slower (Boooo) which is expected for December (Hmmm….OK?).

Perfect time for you buyers to get out and see some things with much less pressure on the buying decision than there was a few months ago and a much clearer view of everything since the leaves are off the trees. Sellers, get ready. You have a couple of months to get your property ready for the 2024 selling season. Now is the perfect time to contact us and set up a meeting so we can assess your situation and get you on the right track to getting that Lake Keowee property market ready!

Home Buyers: A Critical Guide To Home Loans:

Choosing the right mortgage will affect your very financial future. Here’s vital information to help you weigh your options and make a sound decision.

An Insider’s Guide to Understanding Mortgage Loans

When it’s a good time to refinance

Whatever you decide is the best option for you today may change as economic conditions or your personal circumstances change in the future. So how do you know it’s time to refinance?

Whether or not you should refinance usually depends on three things: what you think interest rates will do in the near future, how much monthly savings you’ll enjoy, and how long you expect to be in your home.

Refinancing is not something you consider lightly because it can be expensive. The total cost of your loan can rise as much as five percent when you add in the up-front points, fees and costs.

A good rule of thumb is to start looking into refinancing when interest rates drop 1 to1.5 points below what you’re currently paying. The reason is that some lenders offer loans that cost little or nothi8ng at all. As soon as interest rates drop below your rate, start talking to your agent or loan broker.

Next, figure out what you’ll have to pay up front. Then calculate your monthly savings. With these two numbers, you can figure out how long it will take you to cover the cost of the new loan. For example, if refinancing costs you $5,000 up front and saves you $200 a month it will take you 25 months to cover your costs. If you’re not planning to move for several year, refinancing makes a lot sense . But if you’re going to look for a new home in two years, you wouldn’t really be around long enough to reap the benefits. In fact, you’d lose money in this situation.

If you refinance today and rates drop even further in the next few months, you’ll miss out on additional savings. If you refinance to save $10 or $20 off of your mortgage payment, then you’ll have to stay in your home forever to see it pay off.

Warning” The math is easy for fixed rate loans, not so easy when you’re talking about ARMS. If you don’t feel comfortable running the number yourself, ask your lender or Realtor for help.

more next week….

More next time…

Check out the Lake Keowee Real Estate numbers for the year

Absorption Houses and Lots October 2023

Year End Numbers 10 31 23

Lake Keowee Area News Corner

Dealing with fishing pressure

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Lot 35 The Rock at Jocassee, Great Views!!!!

Duke Energy hosting annual Festival of Trees

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Early morning!