First-Time Homebuyer Credit Provides Tax Benefits to 1.4 Million Families to Date, More Claims Expected

The IRS has released IR-2009-083 reporting that about 1.4 million taxpayers have filed (or amended) their 2008 income tax returns claiming the $8000 first-time homebuyer tax credit. The IRS release also reminds taxpayers of the importance of getting to closing before the December 1 expiration of the credit and publicizes a YouTube video it has prepared to help taxpayers understand the basics of the credit.



For more information from the IRS please visit this link http://www.irs.gov/newsroom/article/0,,id=213375,00.html

CHARLESTON NAMED #2 "NEXT CITY"

NGC has recently published a ranking of these cities in its 2009 Next Cities™ list, which includes the 80 best cities for young professionals in the United States and Canada. This article discusses the Next Cities™ list and its implications for employers and site selection professionals


Read the full article http://www.areadevelopment.com/siteSelection/august09/next-generation-cities-knowledge-workers.shtml

For more information on Buyer and Selling real estate in the greater Tri-County area please call or e-mail Owen Tyler at 843.224.5398 or Owen@OwenTyler.com.

STATE WIDE HOME SALES DOWN 5.6%

Friday, 25 September 2009
Staff Report

COLUMBIA – The S.C. Association of Realtors is reporting 3,952 homes were sold in South Carolina in August, down about 5.6% from home sales in July.

Home sales for August were down 9.4% compared to sales of August 2008.

Of the 15 regions reporting home sales to the association, only six reported an increase in sales for August.

Of the state’s three major metropolitan areas, Greenville reported a 2.9% increase in home sales, while Charleston reported a decline in sales of 17.3% and Columbia reported a decline of 7.6%, according to the report.

The median price of homes in South Carolina in August was $147,600, up from $142,000 in July. The median price of homes in August 2008 was 154,900.

The average number of days a home was on the market was 155, up slightly from 153 in July.

Statewide home sales year-to-date

Source: S.C. Association of Realtors

AUGUST 2009: RESIDENTIAL MARKET REFLECTS END OF AN ACTIVE SUMMER SEASON

Pending Sales Show Largest Increase Since 2005, Median Prices Up 3% from July

CHARLESTON, SC—(September 11, 2009) Likely a result of the $8,000 homebuyer tax credit, pending sales increased 23.8% over August 2008—the largest increase in the Charleston market since 2005. Preliminary data from the Charleston Trident Association of REALTORS® shows 658 residential properties sold in August at a median price of $187,840. As of the 10th of September 2008, 711 properties had changed hands at a median price of $202,250.

Median prices continue to fluctuate variably, showing a 3% increase from July. The gap in year-over-year differences continues to close—preliminary numbers show a 7% difference in prices from one year ago.

Inventory dropped slightly, with 10,796 homes currently listed for sale with the Charleston Trident Multiple Listing Service.

BERKELEY COUNTY
Berkeley County had 125 closed transactions at a median sale price of $172,248. Accounting for one quarter of the county’s total sales, the most active area in Berkeley County was near Highway 17-A and College Park Road.

CHARLESTON COUNTY

322 homes sold in Charleston County in August, at a median price of $240,000. Once again, the area south of Highway 41 in Mount Pleasant showed the most activity in Charleston County, with 59 total sales.

DORCHESTER COUNTY

Dorchester County showed 166 properties sold at a median price of $169,864. 63 of Dorchester County sales took place in the Summerville/Ladson area.

90-DAY ADJUSTMENT: May 2009

Preliminary data from May 2009 showed 678 sales at a median price of $187,000. Adjusted numbers show 734 sales at a median price of $183,950.

CTMLS is now makes available adjusted sales reports 90 days following preliminary reports. The MLS is a user-driven system, with a number of factors that could delay entry of transactions beyond the preliminary reporting day on the 10th of each month. The adjusted figures reflect all transactions entered into the system up to 100 days after the close of the month.