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Charleston-area mortgage delinquency rate falls

Fewer mortgages are in delinquency in the Charleston-North Charleston area, and the local rate is lower than both the statewide rate and the national rate.

The mortgage delinquency rate, defined as mortgages 30 days or more past due — including those in foreclosure — was 4.9% in the Charleston-North Charleston area in September, down from 5.2% in September 2016, according to CoreLogic .

The property information and analytics firm reported that the rate of serious delinquency, or mortgages 90 days or more past due, also declined in the area, from 2.2% in September 2016 to 1.8% in September 2017.

The foreclosure inventory rate was 0.6% in September, compared with 0.9% a year earlier.

Across the state, the mortgage delinquency rate was 5.5% in September, down 0.4 percentage point from a year earlier; and the serious delinquency rate in South Carolina was 2%, down from 2.5% in September 2017. The foreclosure inventory rate was 0.7% across the Palmetto State.

How to begin investing in real estate — as a landlord - The ...

When Arlington resident Jesse Shapiro wanted to diversify his investment portfolio with real estate, he recognized quickly that he didn’t want to buy a place in the Washington area.

“Housing costs in this region are prohibitive, and I didn’t want to risk buying something that’s 10 times the median price of a home in other parts of the country,” Shapiro says. “At the same time, it can be difficult to invest long-distance if you don’t know enough about other real estate markets.”

With the help of Roofstock, an online real estate investment platform, Shapiro and his wife purchased a single-family house in a suburb of Raleigh, N.C., in January.

The decision to buy locally or long distance is one of many to make if you want to join the world of real estate investors. The first essential decision is to determine whether you want to buy and flip a property or invest for long-term appreciation and cash flow from rents.

According to the National Association of Realtors’ 2017 Investment and Vacation Home Buyers Survey, investment home purchases rose 4.5 percent in 2016 to 1.14 million, up from 1.09 million in 2015. The survey found that most individual investors bought property to generate income in recognition of the demand for single-family house rentals.