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Population influx to SC

b3golf

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Gold Member
Jul 2, 2002
2,801
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On the lake murray Facebook page people are begging for houses to buy before they are listed. Crazy pricies


affordable houses on lake Murray have damn near doubled in 6 months forget finding anything liveable for under $600k
On the lake murray Facebook page people are begging for houses to buy before they are listed. Crazy prices
Houses on lake Murray have gone stupid. Buyers are paying $100k or more than ask site unseen for some properties. Since July a decent $400k house is now over $600k or more and there is 0 inventory. Dock approved Lots are bringing 50% more and shacks are now 350k and up if you can even find one. My friends bought their house for $139k in Chapin less than 2 years ago. 2400 sqft no granite no hardwoods, Vinyl siding in a “cookie cutter” neighborhood. It just went under contract for 272k. I understand wood is expensive, but that is insane.
 
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rogue cock

Well-Known Member
Sep 11, 2000
24,922
12,072
113
Bluffton, SC
Unless we can find an area in Florida we like. Which so far hasn't happened. It's likely my wife and I increase HHI's population by two.
I would try Beaufort/Lady;s Island unless you have children in school. HHI and Bluffton prices are exploding. Beaufort is a bit more reasonable.
 

Captain Weegie

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Gold Member
Jun 20, 2011
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Boggles my kind that people will leave one place they don’t like, go somewhere new, and then turn the new place into the place they left.

This is a big and illogical issue for sure. People vote idiots into office, don't like the government they elected and then move elsewhere only to repeat the same voting mistakes. I'd laugh about it...except that it has direct negative impact on me and my family. Charleston is starting to take on the northern mindset. It's a shame.
 

titaniumspur

Active Member
Sep 16, 2006
1,981
1,560
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Realtor who works Columbia and Sumter told me she has seen New Yorkers get in a bidding war for a house in Columbia they have only seen online. When they moved in they had zero complaints.
 

GarnetBeamer

Active Member
Dec 7, 2020
1,531
1,913
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This is a big and illogical issue for sure. People vote idiots into office, don't like the government they elected and then move elsewhere only to repeat the same voting mistakes. I'd laugh about it...except that it has direct negative impact on me and my family. Charleston is starting to take on the northern mindset. It's a shame.

Lived in Charleston when I worked at MUSC for a couple years after grad school. Have friends there who have since had to move and buy a new house just bc traffic is so bad.

I was back a couple years ago to visit and and didn’t even enjoy it bc of the traffic.
 
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USMCatFan

Member
Oct 2, 2007
350
518
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I would try Beaufort/Lady;s Island unless you have children in school. HHI and Bluffton prices are exploding. Beaufort is a bit more reasonable.
Thanks for the heads up.

So far, what we want on HHI is still "affordable". Similar properties in Bluffton are going for about $100k less than the same condo on HHI.
 
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chucktowncock

Well-Known Member
Nov 14, 2001
15,036
4,227
113
2008 happening all over again - be prepared
there was an enormous surplus of homes on the market in 2008

much more supply than demand + unregulated sub-prime lending

there are more real estate agents in the U.S. today than homes available for sale

good luck
 

bayrooster

Well-Known Member
Aug 21, 2003
11,406
1,714
113
San Francisco, CA
I heard a lot of Jersey and Massachusetts accents in Folly Beach last summer. The cost of homes have shot up there to the point where I need to look elsewhere to retire.
 

SCexpat38

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Gold Member
Mar 5, 2012
2,616
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I don’t mind them coming but please shut the hell up about how you did it up there. Don’t try to make her there. Assimilate. Oh. And every soft drink is a coke , even if it is a Pepsi. It’s not soda or pop
Preaching to the choir on cokes, that's what they've always been no matter what, but to be honest I wish somebody would set a quota or something. It's too damn crowded anymore.
 

BigWillieCock

Active Member
Gold Member
Sep 14, 2007
1,495
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2008 happening all over again - be prepared
My wife and I were replacing some equipment in our production facility today and had the radio on all day. At least a dozen times I heard an ad for no income verification home equity loans up to 90% of the current value. It’s almost like some people want 2008 all over again.
 

chucktowncock

Well-Known Member
Nov 14, 2001
15,036
4,227
113
Jasper County is filling up fast.

Homes are way more out of touch with salaries now than they were in 2008 so this one will be bigger. The ratio of Avg. Home Price to Avg. Salary is what, 3-4x higher than it was in 1975, a crash is needed.
US population today is 333 million vs. 219 million in 1975.
 

ncgamecock77

Member
Nov 16, 2001
163
59
28
US population today is 333 million vs. 219 million in 1975.
The real problem is that there has been a national moratorium on foreclosures for over a year. 2.7 million mortgages are in forbearance nationally. It looks like about 25,000 homes in SC should have been foreclosed on last year, but were not. Governor McMaster and the Republican legislature also stopped properties sold at the county tax sales from being conveyed to the purchasers for an extra year. Of course there are lawsuits on that one, but the net result is that a lot of properties that should have been in the market are not. I would estimate at least 1,000 or so per county. Add it all up and a flood of available properties is on the horizon when the moratorium ends as the economy recovers. This is sure the depress the market to some degree.
 
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BigWillieCock

Active Member
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Sep 14, 2007
1,495
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Houses on lake Murray have gone stupid. Buyers are paying $100k or more than ask site unseen for some properties. Since July a decent $400k house is now over $600k or more and there is 0 inventory. Dock approved Lots are bringing 50% more and shacks are now 350k and up if you can even find one. My friends bought their house for $139k in Chapin less than 2 years ago. 2400 sqft no granite no hardwoods, Vinyl siding in a “cookie cutter” neighborhood. It just went under contract for 272k. I don’t
The real problem is that there has been a national moratorium on foreclosures for over a year. 2.7 million mortgages are in forbearance nationally. It looks like about 25,000 homes in SC should have been foreclosed on last year, but were not. Governor McMaster and the Republican legislature also stopped properties sold at the county tax sales from being conveyed to the purchasers for an extra year. Of course there are lawsuits on that one, but the net result is that a lot of properties that should have been in the market are not. I would estimate at least 1,000 or so per county. Add it all up and a flood of available properties is on the horizon when the moratorium ends as the economy recovers. This is sure the depress the market to some degree.
This is an interesting point. Obviously a nuance not happening in 2008.

Adding to your point, there are also thousands of situations around the country where the home is sold and the seller refuses to move out. Certain states won’t evict them. New buyers are on the hook for the mortgage but can’t move in.

you can’t make up the nonsense of unintended consequences
 

SparkleCity

Member
Jan 15, 2021
123
347
63
It's all over...Erwin TN now has folks moving in from Carlifornia..Two of the couples I spoke with were looking at Asheville but decided to take a drive over to TN. They stopped in Erwin and fell in love with the small mountain town. Our houses are on the market only for a couple of days.

I am a real estate investor as well...Hedge Funds, Investors, Corporate institutions are buying up houses in bulk. It will come a time in the near future where an individual will have a hard time buying a home as the previous mentioned will want to rent you a home.

In hot areas, folks are selling homes but keeping the dirt. You get a 99 year lease on the land.

I left the stock market 20 years ago and invested in Real Estate only. It has paid off BIG TIME!!!
If they were looking at Asheville they might as well just stayed in California
 

Gbocock

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Gold Member
Sep 22, 2002
18,484
23,004
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68
Hickory NC
I live in Hickory, NC. There are no starter homes available. Homes in the $225 to $400k range sell in a very few days. Property values are going up like crazy. IMO the reason for this is folks leaving crappy areas of the North for the South. It's been happening since the 1960's but has really spiked with the way the big Blue States have mismanagaed the Covonavirus. If you had a small business, it's likely to have been closed by Cuomo or Pritzker or other lefty. Those folks have had their lives destroyed so have sold everything they have (home included) and are coming South. As long as they don't bring their politics with them they are welcome.
 

Flameout12

Well-Known Member
Jan 10, 2006
9,986
3,048
113
He must have been born after 1985. 🙂
I grew up in Berkeley county '60s-'70s. Lots of people called it soda...as well as coke/pepsi. There was also something called a soda fountain. Guess you grew up in Pelion?
 

Flameout12

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Jan 10, 2006
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I would try Beaufort/Lady;s Island unless you have children in school. HHI and Bluffton prices are exploding. Beaufort is a bit more reasonable.
Dunno why that area is popular. Anything along the coast is ground zero for hurricanes. Unless they haven't been through that kind of tragedy and misery.
I also contend having lived in the midlands and the lowcountry, the midlands is better for humidity/bugs annoyances. The only thing I saw more of in the midlands was black widow spiders...and I don't know why.
 

rogue cock

Well-Known Member
Sep 11, 2000
24,922
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Bluffton, SC
Dunno why that area is popular. Anything along the coast is ground zero for hurricanes. Unless they haven't been through that kind of tragedy and misery.
I also contend having lived in the midlands and the lowcountry, the midlands is better for humidity/bugs annoyances. The only thing I saw more of in the midlands was black widow spiders...and I don't know why.
I enjoy the brackish air coming off the river, spanish moss swaying in the breeze, kayaking on the May and Okatie Rivers, very mild winters, fresh seafood, great restaurants and a completely laid back lifestyle. Fortunately we haven't had any bad hurricanes this far down in the lowcountry We also don't have nearly as many yellowjackets as the rest of the state. But everyone likes different things.
 

lowcountry_cock13

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Oct 12, 2017
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Thanks for the heads up.

So far, what we want on HHI is still "affordable". Similar properties in Bluffton are going for about $100k less than the same condo on HHI.
Yeah the traffic is just what gets me. I worked long shifts so I didn’t get off work til 8, but if I had to leave at 5 I’d rather just stay in the office an extra hour instead of traffic. Not an issue at this time in Beaufort.
 

rogue cock

Well-Known Member
Sep 11, 2000
24,922
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Bluffton, SC
Yeah the traffic is just what gets me. I worked long shifts so I didn’t get off work til 8, but if I had to leave at 5 I’d rather just stay in the office an extra hour instead of traffic. Not an issue at this time in Beaufort.
And if there is an accident at the bridge coming off the island, you will spend at least an hour in traffic....regardless how bad the accident is.
 
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lowcountry_cock13

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Oct 12, 2017
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I would try Beaufort/Lady;s Island unless you have children in school. HHI and Bluffton prices are exploding. Beaufort is a bit more reasonable.
Schools aren’t too bad in Beaufort- Montessori and Charter schools available-well end up doing the Beaufort High system-lady’s island is getting busy, considering buying land on St Helena because I guess in 10 years it’ll start to get developed like Lady’s.
 
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