Rainbow Row Real Estate

09/19/2026

We see “rent-to-own homes” advertised on social media all the time and we’re asked about them nearly as often. Many people believe rent-to-own is a simple, everyday path to homeownership. In reality, some arrangements can carry serious financial risks.

Here’s how the troubling versions often work:

The prospective buyer pays a large upfront amount, sometimes 20–25% of the home’s value. That can be especially appealing to self-employed buyers or people with plenty of cash but income or credit that is difficult to document.

Next comes a rental period, often three to five years, with an option to purchase the home later. The danger is hidden in the contract: a late payment, missed deadline or other violation may allow the owner to terminate the agreement, pursue eviction and potentially keep some or all of the money paid upfront. Then the property can be offered to someone else, and the cycle begins again.

A contract may permit something that still feels deeply unfair. That’s one of those situations where “legal” and “ethical” don’t necessarily mean the same thing. We’re sure ethical rent-to-own arrangements exist. However, in our experience, we haven’t personally seen many that ultimately worked in the tenant-buyer’s favor. Our legal advice: We aren’t attorneys, so have a qualified real estate attorney review the entire agreement before you sign or pay anything.

Our personal advice: If you’ve saved a substantial amount of money, talk with a reputable lender first. Some of that money may be better used to address credit issues, cover legitimate closing costs and purchase a home through a traditional mortgage.

We’ve seen too many people lose tens of thousands of dollars chasing what looked like an easy path to homeownership. Please slow down, read everything and get independent professional advice before signing.

09/18/2026

Touring homes is the fun part—but doing a little homework first can save you time, stress, and disappointment.

Before scheduling showings:

1. Get fully preapproved
2. Choose a monthly payment that feels comfortable
3. Separate your needs from your wish list

A good home search begins with a clear budget and a realistic plan.

09/18/2026

Charleston County: 217 new | 124 closed | 174 under contract | 263 price changes

Berkeley County: 148 new | 78 closed | 124 under contract | 273 price changes

Dorchester County: 101 new | 48 closed | 90 under contract | 151 price changes

Colleton County: 16 new | 6 closed | 11 under contract | 17 price changes

TOTAL: 482 new | 256 closed | 399 under contract | 704 price changes

Average days on market is based on the FlexMLS DOM reported for the 256 homes that closed during the period.

Source: Charleston Regional MLS/FlexMLS. Activity from September 11 through September 18, 2026, ending at 9:00 a.m. Eastern.

09/17/2026

The Federal Reserve raised its benchmark interest rate by 0.25 percentage point yesterday as inflation continues to run higher than it would like.

So, does that mean mortgage rates automatically increased by 0.25%? No.

The Fed does not directly set mortgage rates. Mortgage rates respond to several things, including inflation, the bond market and what investors expect the economy and the Fed to do next. That means we may see volatility, but there is no automatic one-for-one change.

For Charleston-area buyers, the goal should not be guessing the perfect day to buy. Start with a monthly payment you can comfortably afford, understand your financing options and be ready when the right home and the right numbers come together.

If you already own a home with a fixed-rate mortgage, yesterday’s decision does not change your existing rate or payment. HELOCs and other variable-rate debt may be affected more directly, while a refinance should always be evaluated based on the actual savings and costs.

This is a time for good information and careful planning—not panic. If you want to look at your individual numbers, we're happy to help.

09/16/2026

Not every home improvement project is a good investment.

Some upgrades make your home more enjoyable—and there is absolutely nothing wrong with that—but they may not add as much resale value as they cost.

Here are five projects that can bring less value than homeowners expect:

1. Leased solar panels
Solar panels may lower your electric bill, but a lease can complicate a sale. The buyer may need to qualify to assume the agreement, and some buyers simply don’t want the additional contract.

2. Over-the-top landscaping or a luxury pool
A beautiful backyard can help sell a home, but elaborate landscaping requires upkeep, and not every buyer wants the expense or responsibility of a pool.

3. A $100,000 kitchen in a $350,000 neighborhood
Buyers love updated kitchens, but neighborhood values still matter. An ultra-luxury renovation will not automatically push a home far beyond the comparable sales surrounding it.

4. Converting a garage or bedroom
Turning a garage into living space, a bedroom into a giant closet, or another room into a highly specialized space may work perfectly for you—but buyers may place more value on the home’s original function.

5. Highly personalized renovations
Bold permanent finishes, themed rooms and unusual built-ins can narrow your buyer pool. The more expensive or difficult something is to change, the more likely buyers are to factor that into their offer.

The lesson isn’t “don’t improve your home.” It’s to decide whether you’re renovating for your enjoyment or for a future return on investment. Sometimes those are the same project, but not always.

Thinking about a major renovation? A local real estate professional can help you understand what buyers are actually paying for in your neighborhood before you start writing checks.

09/15/2026

A home appraisal is completed by an independent, licensed appraiser who provides an opinion of the property’s market value. The appraisal helps protect the lender by confirming that the home provides adequate collateral for the amount being financed.

Most appraisals come in at or slightly above the contract price. Sometimes, however, the appraised value is lower than the agreed-upon sales price. That difference is known as an appraisal gap.

If that happens, the options, depending on the contract and loan program, may include:

• The seller lowers the price to the appraised value.
• The buyer pays the difference in cash.
• The buyer and seller meet somewhere in the middle.
• The seller holds firm, and the buyer may have the right to terminate under the appraisal contingency.

Appraisal issues don’t happen in every transaction, but when they do, the language in the contract matters. This is where having an experienced real estate and lending team can make a major difference in protecting your interests and helping everyone determine the best path forward.

09/14/2026

A home inspection is one of those things many buyers know about but may not fully understand until they’re under contract. The inspection typically takes place during the due diligence period. It’s voluntary, but highly encouraged, and is usually an out-of-pocket expense for the buyer. The cost can vary based on the home’s age, size, foundation type (crawl space or slab) and additional services such as septic inspections, mold testing, lead-based paint testing, or other specialized evaluations.

We recommend scheduling it as early as possible. That gives your inspector time to complete the report and gives you time to decide whether to request repairs, renegotiate, move forward as-is, or terminate if something is an absolute deal breaker. Here’s one detail that often gets overlooked: submitting a repair addendum does not automatically extend the due diligence period. Any extension should be agreed to in writing before the deadline expires.

This is where an experienced real estate team becomes so valuable. Understanding the contract, knowing what repairs may cost, and helping distinguish a manageable issue from a genuine deal breaker are skills developed through years of experience and dozens of successful transactions. Have questions about inspections or due diligence? Let’s talk before you’re under contract, not after the clock starts ticking.

09/12/2026

Rocket Mortgage may not answer on a Saturday. USAA may not return your email after hours. And with a big bank like Chase, you may have no idea who will call you, or whether you’ll speak with the same person twice.

When you’re making one of the largest financial decisions of your life, having a local mortgage broker in your corner matters. I’ll answer your questions, help you understand your options, and shop multiple lenders to find the loan product that best fits your situation. You get personal, local service without being limited to one bank’s products.

Let’s keep it local and make the mortgage process feel a whole lot less overwhelming.

09/11/2026

https://www.rainbowrowrealestate.com/blog/september-11-a-day-for-remembrance-and-reflection/

A quiet moment to remember the lives lost on September 11 and honor the courage, service and humanity shown in the days that followed.

09/11/2026

Today, We Pause and Remember.