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Residential real estate sales on the rise in Charleston area

Throughout the country people are starting to see some evidence that the economy is finally on the mend. This news is especially important news for states, such as South Carolina, that were particularly affected by the recession. One particularly encouraging sign is that the residential real estate market in Charleston, and surrounding areas, improved over the last month. As the economy picks up, more and more families will hopefully help to keep the trend going.

According to figures released by the Charleston Trident Association of Realtors, the month of February 2012 saw an improvement over the same month last year. This February, 607 homes were sold in the Charleston area, as compared to 557 during the same period in 2011. Additionally, median home prices have bumped up to $170,000, which is a slight over the $163,500 median value from February 2011. This is particularly good news, because home prices have been steadily decreasing over the last five years, since the recession hit.

The figures released by the local real estate association indicate that the housing market may be on the upward swing, or at least becoming more stable, as some analysts have predicted. An increase in prices may encourage more activity in the local real estate market, which is a welcome move. A leader for the local realtor's association indicates that sales are expected to continue to increase, as the spring and summer months are traditionally better for residential real estate sales.

As more and more Charleston families consider buying a new home, they might consider all the potential roadblocks that may arise during this transformative period in the local real estate market. Sometimes, people can find a wonderful home that has been foreclosed. Buying a foreclosed home can be a great option, but issues can arise during these particular types of transactions. During the foreclosure process paperwork can be inaccurately completed, which can cause chain of title issues. The help of an experienced real estate attorney can streamline the title search process, which will help families complete their home transaction and begin to build a life in their new homes.

Source: The Post and Courier, "Charleston area real estate sales improve," David Slade, Mar. 12, 2012

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