I been hearing from everyone that Charleston South Carolina is booming for real estate, what I’m worried about is a “bubble” forming as everyone and their moms are saying Charleston is red hot and that’s usually the time to avoid an investment. I’m new to real estate so if anyone has any insight on whether I’m being paranoid and if there even is a bubble please enlighten my foolishness.
I would agree that Charleston is in need of a correction. Perhaps not a bubble...but prices do seem too high for a city and economic base of this size. The market has clearly slowed in recent months. If you are shopping right now, I would give it at least six months to see where the trends go. Buying in Charleston right now is a mistake, IMO. There are some deals to be had...but not many of them.
I think I agree ^^. It's also prime-time for flooding due to climate-change-related weather occurrences. That said, it's true that there are a lot of folks moving here, so that is a good thing. I'm doing a small property redevelopment project, and counting on Volvo worker relocations and such for my tenants.