Tidal Creek Home in Charleston, SC

Wonderful tidal creek home located in West Ashley. Luxury home builder's personal home, all the little extras you could dream off

For Sale: 3BR/3+1BA Single Family House in Charleston, SC, $710,600

Price Reduced: FOLLY BEACH, SC

A must see on Little Oak Island

For Sale: 2BR/2BA Condo in Folly Beach, SC, $238,900

2011 Color of the Year - Vintage Wine

Benjamin Moore's color designers are forecasting vintage wine as Envision Color 2011's Color of the Year.

First seen on the fashion runways of New York, Paris, and Milan, this rich hue with a deep brown base and a hint of smoky violet is just as magnificent in the home.

As an undertone in many of the latest wood finishes, leathers, and other textiles, vintage wine, and its lighter variations, will make a great paint color pick for many applications over the coming years.

Visit Benjamin Moore Web site

RESIDENTIAL REAL ESTATE SALES VOLUME DECREASES, MEDIAN PRICE REMAINS STABLE IN NOVEMBER

RESIDENTIAL REAL ESTATE SALES VOLUME DECREASES, MEDIAN PRICE REMAINS STABLE IN NOVEMBER

CHARLESTON, SC—(December 10, 2010) According to preliminary data from the Charleston Trident Association of REALTORS® (CTAR) 588 homes sold at a median price of $189,700 during the month of November.

Sales volume is 25% lower than in November 2009, when the original tax credit deadline of November 30 spurred an unprecedented number of sales (783).

Median price remained stable at $189,700—a slight variation (3%) from October’s median price of $194,785 and a healthy 10% higher than November 2009’s median price of $173,000, when buyer activity was heavily concentrated in the typically lower first-time buyer price range.

“We expected to see sales volume down in this quarter compared to last year. Sales are no longer being supported by the appeal of the tax credit, so it’s not surprising that sales decreased. Looking at the big picture, year-to-date sales are higher this year than last, and prices have shown stability over the last several months, which is encouraging for the market’s continued recovery,” said Rob Woodul, 2011 President of the Charleston Trident Association of REALTORS®.

Year-to-date, sales are 6% ahead of this point last year and median prices have fluctuated very little over the last 11 months—from a peak of $199,055 in August to a low of $179,900 in February. The year-to-date median price is 4% higher than it was at the end of November 2009.

At the end of November, the number of homes listed as actively for sale with the Charleston Trident Multiple Listing Service (MLS) was 8,802.

BERKELEY COUNTY
138 homes sold at a median price of $169,187 in November in Berkeley County. The median home price for 196 sales in November 2009 was $154,700.

CHARLESTON COUNTY
In Charleston County, median price jumped to $236,175 for the 318 homes that sold in November. Last year, 361 homes changed hands at a median price of $225,000 in November.

DORCHESTER COUNTY
Dorchester County data showed a median price of $152,136 from 112 sales. Last November, 199 properties sold at a median price of $150,000.

OCTOBER 2010 ADJUSTMENT
Preliminary numbers reported for October 2010 indicated 630 homes sold at a median price of $194,887. Adjusted numbers now show 657 sales at a median price of $194,785.

With nearly 4,000 members, CTAR’s mission is to promote the highest standards of professionalism, ethics, education and technology, and to ensure that its members are the primary source for real estate services in the South Carolina Lowcountry. Only those who are members of the Association of REALTORS® and its parent organizations are called REALTORS®. To learn more, visit www.CharlestonRealtors.com. ###

FREE HOLIDAY PARKING IN DOWNTOWN CHARLESTON

The City of Charleston's Holiday Magic Parking Pass - good for 2 hours of free parking in select parking garages all over the City.  Select the Link below to print your parking pass.

PARKING VOUCHER
http://www.charleston-sc.gov/shared/docs/0/2010-holiday-magic-parking-voucher4.pdf

Deficit Reduction Commission Releases Report Proposing Changes to the Mortgage Interest Deduction

Deficit Reduction Commission Releases Report Proposing Changes to the MID

The bipartisan Deficit Reduction Commission has released its final report, which includes a recommendation to modify the Mortgage Interest Deduction (MID) – a recommendation that could negatively affect millions of American homeowners.

The proposed changes would eliminate an owner’s ability to credit for equity and reduce the mortgage cap by 50% from $1 million to $500,000. Additionally, home owners with a second home or investment property would lose their ability to claim a tax credit for their non-primary residences. The commission is mandated by law to report recommendations to President Obama, and commission members will be asked to review the report and register their vote for or against on Friday. With thousands of prospective buyers and existing property owners in the Charleston area, the reduction or elimination of the MID could have serious effects on the Charleston real estate market.

“Over the last 12 months, the local real estate market has shown consistent signs of improvement and the removal of one of the key benefits to homeownership could devastate this recovering market,” said Jeremy Willits, 2010 President of the Charleston Association of REALTORS®.

The changes would also negatively affect current homeowners, particularly for first-time buyers who purchased in recent years and rely on the MID as a tax deduction. New and recent owners who have higher principal balances on their mortgages will see the most dramatic impact, as they pay greater interest and receive more substantial credits. Those who have owned their property longer or have smaller principal balances will feel a slightly lesser impact as they have had less interest on which to claim the MID.

Federal government incentives for homeownership have existed for more than 150 years, largely due to the positive impact homeownership has shown in fostering communities, creating social stability, building individual wealth over the long term, and contributing significantly to the economy.

While the MID isn’t believed to be a significant factor in a consumer’s decision to purchase a home, it has been proven to make ownership more affordable by reducing the financial burden associated with paying a mortgage. Furthermore, by utilizing the mortgage interest deduction when filing annual tax returns, many owners are able to receive tax refunds or reduce their tax payments, which feeds back into the overall economy through consumer spending.

The Charleston Trident Association of REALTORS® will continue to work with legislative partners and industry leaders on a local, state and national level to ensure a model for responsible, sustainable home ownership. 




Newly appointed NAR President Ron Phipps said in a statement, “Recent progress has been made in bringing stability to the housing market and any changes to the MID now or in the future could critically erode home prices and the value of homes by as much as 15 percent, according to our research. This would negatively impact home ownership for millions of Americans, including those who own their homes outright and have no mortgage”.

In addition to its local and state counterparts, The National Association of REALTORS® (NAR) is actively engaged on behalf of the nation’s 75 million home owners and 1.1 million Realtors® to ensure that the current deduction is not repealed or modified.

Reprinted from Charleston Trident Association of REALTORS®

Dec. 2 Nighttime Lane Closures in Preparation for Johnnie Dodds Boulevard Improvements Project

Traffic Alert: Dec. 2 Nighttime Lane Closures in Preparation for Johnnie Dodds Boulevard Improvements Project

Charleston County Government announces new, nighttime road work that will affect northbound traffic on Johnnie Dodds Boulevard (U.S. 17) this week. The work is being done in preparation for the Johnnie Dodds Boulevard Improvements Project in Mount Pleasant.

The following work is necessary to erect permanent construction signs across the Mt. Pleasant side of the Arthur Ravenel, Jr. Bridge:

Thursday, Dec. 2 northbound lane closures one mile near the Ravenel Bridge:
• Drivers should expect northbound, outside lane closures on Johnnie Dodds Boulevard and one mile north bound of the Ravenel Bridge.
• The work will be done between 9 p.m. on Thursday, Dec. 2 through 6 a.m. on Friday, Dec. 3.
• At no time will the entire roadway be blocked to traffic.
• If the weather is poor on this date, the work will be completed during the same timeframe on the next weather-permitting day.

All motorists traveling through the project area are asked to be aware of equipment and crews and to be prepared for delays beginning this week. Alternative routes are recommended if possible. The public is also asked to notice traffic control signs, reductions in speed limit and message board information, and to note that all road work is dependent on the weather.

The project, which is expected to be completed in the fall of 2012, is funded by the Charleston County Transportation Sales Tax and managed by Charleston County Government’s RoadWise Program, in close coordination with the Town of Mount Pleasant and the S.C. Department of Transportation. The goal of the project is to improve the traffic flow in and out of Mount Pleasant, especially before and after school and work hours.

Every effort is being made to schedule necessary lane closures for the project during off- peak, nighttime and weekend hours when possible.

Charleston County RoadWise is the name of Charleston County Government’s management program for the construction of roads, highways, resurfacing, paving and drainage projects that are funded by the Transportation Sales Tax. Visit the official Web site at www.ccroadwise.org for public meeting notices and up-to-date news and information about all Charleston County Transportation Sales Tax projects.

The public can get up-to-date project information, including construction status and traffic alerts, online HERE

Realtors vote to require disclosure of short sales

Realtors vote to require disclosure of short sales

By Ashley Fletcher Frampton
aframpton@scbiznews.com
Published Nov. 19, 2010

Real estate agents must flag in the Multiple Listing Service database those homes that they expect to be short-sale transactions, local Realtor officials decided today.

The vote by the Charleston Trident Association of Realtors’ Multiple Listing Service board to mandate disclosure brings clarity to an issue that real estate agents have debated recently, as short sales have come to represent a growing and complicated segment of local home sales.

Short sales are transactions for which bank approval is needed because the offer does not cover the seller’s outstanding debt. The bank must agree to forgive some of that debt or work out an alternative payment arrangement with the seller.

Some agents have pushed for the Charleston Realtors group to require full disclosure so that buyers know ahead of time what they’re getting into, as banks’ involvement in a home sale can add time to the process.

Others have said that disclosing a short sale can invite lower offers; and that it can discourage some buyers and therefore isn’t the best way to market a home. Additionally, the question of whether a sale is a short sale depends on the offers submitted.

Some sellers, too, are reluctant to advertise publicly what could be perceived by neighbors and friends as financial troubles, putting the agents who represent them in a difficult spot, agents have said.

Under today’s decision, agents must disclose potential short sales in the section of the Multiple Listing Service database, or MLS, that only agents can access. The mandatory disclosure does not apply to the portion of the information about a home in the database that is available to the public, the Realtors group said.

The searchable public section of the MLS is what populates the listings on some agents’ individual websites.

“This decision puts the choice of public disclosure in the hands of the seller,” David Smythe, president of the MLS board, said in a statement. “Sellers will be required to disclose property as a potential short sale within the MLS; however, disclosure to the public will be determined by the seller and their real estate professional.”

The disclosure requirement applies to home listings that are “reasonably known to be a potential short sale,” according to the MLS board’s decision.

That means that if a sale, to the best of the agent’s knowledge, is going to be a short sale, it must be disclosed as such, said Meghan Weinreich, spokeswoman for the Charleston Trident Association of Realtors.

The definition isn’t black and white, but that’s the nature of short sales, Weinreich said. Sellers and their agents do not always know ahead of time how a deal will turn out.

“You can’t always know,” she said.

Weinreich said the decision is effective immediately, and it will be implemented once the MLS database is altered to include a short sale disclosure box in the agent-only section.

Reach Ashley Fletcher Frampton at 843-849-3129.

Mortgage rates fall to fresh lows this week

Mortgage rates fall to fresh lows this week

By JANNA HERRON, AP Real Estate Writer

NEW YORK – Rates on fixed mortgages dropped to their lowest levels in decades this week after the Federal Reserve unveiled a massive bond-buying program to help spur economic growth.

Mortgage buyer Freddie Mac said Tuesday the average rate for 30-year fixed loans fell to 4.17 percent from 4.24 percent last week. That's the lowest on records dating back to 1971.

The average rate on 15-year fixed loans fell to 3.57 percent from 3.63 percent. That's the lowest since the survey began in 1991.

The Fed detailed plans last week to buy $600 billion in Treasury bonds. On Wednesday, the central bank gave more details, saying it plans to purchase $105 billion in Treasurys over the next month. The extra demand means Treasurys will produce lower yields for investors. Mortgage rates tend to track those yields.

Mortgage rates have been at or near historic lows since April as investors, concerned about the health of the global economy, shift their money into Treasurys, pushing down rates on the bonds and consumer and business loans.

While more borrowers have refinanced their home loans, low rates have done little to boost the beleaguered housing market. Would-be buyers remain on the sidelines, too worried about their jobs or unable to qualify for a loan because of tighter credit standards. Others can't sell their own homes before buying another.

Home sales were the worst in decades this summer, and home prices fell in half of U.S. cities in the third quarter, the National Association of Realtors said Thursday.

To calculate average mortgage rates, Freddie Mac collects rates from lenders across the country on Monday through Wednesday of each week. Rates often fluctuate significantly, even within a single day.

Rates on five-year adjustable-rate mortgages fell to their lowest level in at least five years. They averaged 3.25 percent, down from 3.39 percent a week earlier. It is the lowest rate on records dating back to January 2005.

Rates on one-year adjustable-rate home loans were unchanged at 3.26.

The rates do not include add-on fees, known as points. One point is equal to 1 percent of the total loan amount.

The average fee for 30-year and 15-year fixed loans in Freddie Mac's survey was 0.8 point. It was 0.7 point for 1-year and five-year mortgages.

Original article

Is sexual orientation discrimination in housing legal? Maybe.

Is sexual orientation discrimination in housing legal? Maybe.
By Lani Rosales on November 9, 2010

Can landlords legally deny renting to a gay couple because they’re gay? Can a Realtor refuse to negotiate on behalf of a transgendered woman because she’s transgendered? Can a builder jack up the price of a home when selling to a bisexual male because they know he’s bisexual? Maybe- there’s a little bit of a grey area here.

If you’re a licensed Realtor, you should have memorized the Fair Housing laws prohibiting discrimination against anyone based on race, color, national origin, religion, sex, familial status or handicap. But nowhere in there does it mention sexual orientation.

According to the U.S. Department of Housing and Urban Development, laws are different from state to state and in some it is most certainly illegal for the real estate industry to discriminate, but in some states, the GLBTQ community is still legally discriminated against and refused real estate services and equal housing opportunities.

To go above and beyond local, state and national laws, Realtors have always upheld the National Association of Realtors’ Code of Ethics wherein Article 10 outlines the “Duties to the Public” which reflects the national Fair Housing law that forbids denying services for reasons of race, color, national origin, religion, sex, familial status or handicap. Nowhere in the code are Realtors required to serve anyone with sexual orientation disagreeable to them. Until now…

According to the NAR, the Code of Ethics Article 10 has been amended:
Article 10: Equal Rights Amendment Passes:
The NAR Delegate Body approved an amendment to Article 10 of the Code of Ethics to prohibit discrimination on the basis of sexual orientation. In a roll-call vote, more than 93 percent of the Delegate Body voted in favor of the amendment. The Delegate Body decision confirms a vote by the Board of Directors in May.

As a personal note, AG strongly supports and applauds the measure taken that Realtors’ ethics supersede federal law so that no matter if it is legal or not locally, discrimination based on sexual orientation will not be tolerated from Realtors, a measure taken by Realtors. This amendment however will come with some possibly negative ramifications which we will be discussing in the future.

We believe housing to be a basic human right that no one should be denied and we are astonished that anyone (especially the 7% that voted against the Article 10 amendment) would find it necessary to discriminate because of sexual orientation and we hope HUD follows in NAR’s footsteps in this case.

Lani is the New Media Director here at AgentGenius.com and President of New Media Lab, both of which are headquartered in Austin, TX. She has an English degree from the University of Texas (and of course used that to become a blogger) and has lived in Texas her whole life minus the semester in Spain and the summer in Mexico. She spends a great deal of energy on the AG brand as well as improving the real estate industry and is an avid Twitter user.

Link to original post

NAHB Reminds Consumers to Renovate Now Before Energy Tax Credits Expire

Home owners have two more months to take advantage of tax credits that can help them save energy and reduce their utility bills with more energy-efficient windows and doors, insulation, and heating and cooling equipment, according to the National Association of Home Builders (NAHB).

"Our members are ready to help consumers make the best choices for their homes, but home owners should act soon if they want to qualify for up to $1,500 in tax credits when they complete their 2010 income tax returns," said NAHB Remodelers Chair Donna Shirey, a remodeler and builder in Issaquah, Wash.

"We think it would be a great benefit to both the environment and to our economy to extend these tax benefits, but they are scheduled to expire at the end of the year," Shirey noted. "For that reason, NAHB suggests that home owners get the work done before Dec. 31, while the tax credits are still available."

The tax credit for efficiency upgrades in existing homes (Internal Revenue Code Section 25C) is available for 30 percent of the cost, up to a $1,500 limit for 2009 and 2010, for the installation of certain types of insulation, windows, roofs, water heaters, heat pumps, air conditioners and furnaces. Details on the kinds of products that qualify and instructions for obtaining the credit are available at www.nahb.org/efficiencytaxcredit.

Other Important Efficiency Incentives

In addition to supporting efficiency upgrades to existing housing, NAHB continues to push for the return of the section 45L tax credit for new, energy-efficient home construction, which expired at the end of last year. The section 45L tax credit was the only federal incentive available for efficiency in new home construction; about 10 percent of all new homes sold in 2009 qualified.

A tax credit available under tax code section 25D is also available for equipment that uses renewable energy, such as wind, solar, geothermal or fuel cells. Like the 25C credit, the 25D credit can be used for up to 30 percent of the cost of qualifying products, but there is no lifetime limit and the program does not expire until the end of 2016.

NAHB continues to push for extension and expansion of a variety of energy-efficiency incentives in both new and existing homes, but the current political climate is making such advocacy efforts challenging. For example, the national "Cash for Caulkers" or Home Star program, which sought to create a $5 billion national energy efficiency rebate system, did not get approved by Congress this year.

"We understand that there are trade-offs and budgetary considerations for all these programs," Shirey said. "Tax credits can take advantage of the existing administrative infrastructure – the Internal Revenue Service – to immediately get off the ground."

To find a remodeler or other contractor to help you with your weatherization or home renovation project, contact your local home builders association at www.nahb.org/findanHBA. To learn more about the tax credit program, go to www.nahb.org/efficiencytaxcredit.

3rd Quarter Update 2010

A video update on the trends and activity in the Charleston, SC residential real estate market during the third quarter of 2010.

Southwest Airlines Announces Fares and Flights To/From South Carolina

Airline Will Operate Seven Daily Nonstop Flights Each To/From Charleston and Greenville-Spartanburg Airports Beginning March 13, 2011

DALLAS, Oct. 20 /PRNewswire-FirstCall/ -- Southwest Airlines is coming to the Palmetto State! Today, Southwest announced it will begin service to/from Charleston International Airport (CHS) and Greenville-Spartanburg Airport (GSP) on March 13, 2011.

In Charleston, the carrier will operate seven daily nonstop flights to four destinations: three to Baltimore/Washington, two to Chicago Midway, one to Nashville, and one to Houston Hobby. Southwest Airlines will operate from gate B5 in Charleston's main terminal.

In Greenville-Spartanburg, the airline will begin service with seven daily nonstop flights to five destinations: two to Baltimore/Washington, two to Chicago Midway, one to Nashville, one to Houston Hobby, and one to Orlando. Southwest Airlines will operate from gates A3 and A4 in Greenville-Spartanburg's main terminal.

To celebrate the addition of Charleston and Greenville-Spartanburg to the Southwest network, Southwest Airlines is offering a special two-day fare sale only on southwest.com. Through 11:59 p.m. PDT on Thursday, Oct. 21, 2010, Customers can find fares as low as $30 one-way to any nonstop market to/from CHS and GSP for travel through April 6, 2011 (see fare rules below). When the $30 fare sale ends, Customers will still be able to book fares as low as $59 one-way for travel every day except Fridays and Sundays March 14, 2011, through May 25, 2011. To view these special offers only available on southwest.com, visit www.southwest.com/southcarolina.

"Southwest Airlines is delighted to bring our special brand of low-fare, high-quality Customer Service to travelers in Greenville-Spartanburg and Charleston," said Dave Ridley, Southwest Airlines Senior Vice President of Marketing and Revenue Management. "For nearly 40 years, we have been liberating Customers across the country from the tyranny of high fares and poor service. We can't wait to continue this mission by introducing our wonderful People, low fares, and Boeing 737 jet service to the Palmetto State."

In addition to the seven daily nonstop flights to/from these cities, Southwest Airlines' new service will offer direct or connecting service to more than 60 destinations including: Las Vegas, Denver, Dallas Love, Sacramento, and Salt Lake City. To hear more about the new service, check out Southwest's blog at www.blogsouthwest.com for a video from Southwest Executives Dave Ridley and Bob Montgomery on how Southwest is bringing big planes, low fares, and great people to South Carolina.

"The arrival of Southwest Airlines will absolutely be a game changer for the entire Upstate," said Dave Edwards, GSP Executive Director. "Not only will passengers benefit from low fares and additional destinations, but we've already heard from those working in the area of economic development that they are getting calls from business and industry groups from around country that never would have considered the Upstate without Southwest Airlines."

"Southwest Airlines' announcement to bring new service and value pricing to Charleston International Airport is clearly welcome," said Susan Stevens, Director of Airports for Charleston County Aviation Authority. "Southwest's vast national network will be linked to the Charleston region and will offer both residents and visitors new options for travel to and from the Lowcountry."

The entrance into South Carolina marks the 36th state in Southwest's network. Greenville-Spartanburg will be the carrier's 70th city, and Charleston will be its 71st.

After nearly 40 years of service, Southwest Airlines continues to differentiate itself from other low fare carriers—offering a reliable product with exemplary Customer Service. Southwest Airlines is the nation's largest carrier in terms of originating domestic passengers boarded, now serving 69 cities in 35 states. Southwest also is one of the most honored airlines in the world known for its commitment to the triple bottom line of Performance, People, and Planet. To read more about how Southwest is doing its part to be a good citizen, visit southwest.com/cares to read the Southwest Airlines One Report™. Based in Dallas, Southwest currently operates more than 3,200 flights a day and has nearly 35,000 Employees systemwide.

$30 One-Way Fare Rules

Fares are available only on www.southwest.com. Southwest Airlines fare sales are available for purchase October 20, 2010, through October 21, 2010, 11:59 p.m. PDT, and travel must take place between March 13, 2011, and April 6, 2011. Fares do not include a federal excise tax of $3.70 per takeoff and landing. Fares do not include airport-assessed passenger facility charges (PFC) of up to $9.00 and U.S. government-imposed September 11th Security Fee of up to $5.00 one-way. Seats are limited. Fares won't be available on some flights that operate during very busy travel times and holiday periods. Fares are available for one-way travel. Fares valid for travel to nonstop destinations only. Fares may be combined with other combinable fares. Fares are not combinable with Senior Fares. When combining fares, all rules and restrictions apply. Fares are nonrefundable but may be applied toward the purchase of future travel on Southwest Airlines. Fares are not available through the Group Desk. Any change in the itinerary may result in an increase in fare. Standby travel requires an upgrade to the Anytime fare. Fares are subject to change until ticketed. Fares are valid on published, scheduled service only.

Introductory Fare Rules

Fares are available on www.southwest.com or swabiz.com. Southwest Airlines fare sales are available for purchase October 20, 2010, through December 31, 2010, 11:59 p.m. PDT, and travel must take place between March 13, 2011, and May 25, 2011, excluding April 21-25, 2011. Travel valid every day except Fridays and Sundays. Fares do not include a federal excise tax of $3.70 per takeoff and landing. Fares do not include airport-assessed passenger facility charges (PFC) of up to $9.00 and U.S. government-imposed September 11th Security Fee of up to $5.00 one-way. Seats are limited. Fares may vary by destination, flight, and day of week, and won't be available on some flights that operate during very busy travel times and holiday periods. Fares are available for one-way travel. Fares may be combined with other combinable fares. Fares are not combinable with Senior Fares. When combining fares, all rules and restrictions apply. Fares are nonrefundable but may be applied toward the purchase of future travel on Southwest Airlines. Fares are not available through the Group Desk. Any change in the itinerary may result in an increase in fare. Standby travel requires an upgrade to the Anytime fare. Fares are subject to change until ticketed. Fares are valid on published, scheduled service only.

www.southwest.com


SOURCE Southwest Airlines

HOME SALES AND PRICES SURVIVE TAX CREDIT FALLOUT, INVENTORY DROPS NEAR ANNUAL LOW

HOME SALES AND PRICES SURVIVE TAX CREDIT FALLOUT, INVENTORY DROPS NEAR ANNUAL LOW

Sales Outpace 2009 Levels and Prices Continue Steady Growth

CHARLESTON, SC—(October 11, 2010) According to preliminary data released by the Charleston Trident Association of REALTORS®, 659 homes sold at a median price of $188,840 in September. This reflects a 5% decline in sales but a 9% increase in median prices when compared to preliminary figures from September 2009.

Year-to-date figures show sales 15% ahead of this point last year, with the median price increasing a slight 2%, holding ground in the high $180’s. Thus far in 2010, 6,698 homes have sold at a median price of $188,000. Compared to the same period last year, 5,829 homes sold at a median price of $185,000.

“At this time last year, the tax credit was in full swing, so it’s encouraging to see steady improvement in our sales and prices compared against last year’s numbers” said 2010 CTAR President, Jeremy Willits.

“Despite the fact that some regions across the country are still experiencing significant declines in buyer activity, that is simply not the case for Charleston. We experienced a month of slow sales following the expiration of the tax credit, but heading toward the close of this year, we’ve established stability—sales have kept pace, median prices continue to rise and inventory is declining” said Willits.

The number of homes listed as actively for sale with the Charleston Trident Multiple Listing Service (MLS) was 9,312 at the end of September, down 4% from September 2009 and the lowest level of inventory seen since the beginning of this year. Inventory has remained close to the 10,000 mark for much of the year, so declining inventory could signal more balanced supply and demand.

BERKELEY COUNTY

Sales in Berkeley County hit a three-month high, with 172 sales at a median price of $168,948—a marked improvement from last September’s 135 sales at a median price of $150,000. September’s figures reflect a 27% increase in sales volume and a 13% increase in prices.

These increases are supported by significant levels of activity on Daniel Island—where sales are consistently doubling from 2009 levels. Sales of single family homes on the island have increased 109% year-to-date, without sacrificing prices—which remain steady in the $500,000 range.

CHARLESTON COUNTY

Sales in Charleston County were comparable with 2009 levels, while prices inched up another 5%. 351 homes changed hands at a median price of $224,500. In September 2009, 359 homes sold at a median price of $214,000.

Continued activity in the island markets support the steadying market—both Folly Beach and Isle of Palms, which was recently included on the Forbes List of America’s Most Expensive Zip Codes, doubled their sales over September 2009.

DORCHESTER COUNTY

Dorchester County showed improvement in median sale price last month—recording a 14% increase as prices climbed to$176,000. Last September, the median sale price was $154,000. Sales are still sluggish in the foreclosure-plagued county, with 120 sales in September 2010, down 27% when compared to September 2009’s 164 closings.

Most of the County’s activity is taking place in the Summerville/Ridgeville area, where 49 of the area’s 120 sales closed and prices increased 9% compared to last September. Notably, the North Charleston/Summerville/Ladson area recorded a 32% increase in median price during the month, jumping from last year’s $162,750 to $214,900.

AUGUST 2010 ADJUSTMENT

Preliminary numbers reported for August 2010 indicated 681 homes sold at a median price of $199,055. Adjusted numbers now show 697 sales at the same median price.

With approximately 3,700 members, CTAR’s mission is to promote the highest standards of professionalism, ethics, education and technology, and to ensure that its members are the primary source for real estate services in the South Carolina Lowcountry. Only those who are members of the Association of REALTORS® and its parent organizations are called REALTORS®.

8 Tips for Finding Your New Home

By: G. M. Filisko

Published: February 10, 2010

A solid game plan can help you narrow your homebuying search to find the best home for you.

1. Know thyself

Understand the type of home that suits your personality. Do you prefer a new or existing home? A ranch or a multistory home? If you’re leaning toward a fixer-upper, are you truly handy, or will you need to budget for contractors?

2. Research before you look

List the features you most want in a home and identify which are necessities and which are extras. Identify three to four neighborhoods you’d like to live in based on commute time, schools, recreation, crime, and price. Then hop onto REALTOR.com to get a feel for the homes available in your price range in your favorite neighborhoods. Use the results to prioritize your wants and needs so you can add in and weed out properties from the inventory you’d like to view.

3. Get your finances in order

Generally, lenders say you can afford a home priced two to three times your gross income. Create a budget so you know how much you’re comfortable spending each month on housing. Don’t wait until you’ve found a home and made an offer to investigate financing.

Gather your financial records and meet with a lender to get a prequalification letter spelling out how much you’re eligible to borrow. The lender won’t necessarily consider the extra fees you’ll pay when you purchase or your plans to begin a family or purchase a new car, so shop in a price range you’re comfortable with. Also, presenting an offer contingent on financing will make your bid less attractive to sellers.

4. Set a moving timeline
Do you have blemishes on your credit that will take time to clear up? If you already own, have you sold your current home? If not, you’ll need to factor in the time needed to sell. If you rent, when is your lease up? Do you expect interest rates to jump anytime soon? All these factors will affect your buying, closing, and moving timelines.

5. Think long term

Your future plans may dictate the type of home you’ll buy. Are you looking for a starter house with plans to move up in a few years, or do you hope to stay in the home for five to 10 years? With a starter, you may need to adjust your expectations. If you plan to nest, be sure your priority list helps you identify a home you’ll still love years from now.

6. Work with a REALTOR®

Ask people you trust for referrals to a real estate professional they trust. Interview agents to determine which have expertise in the neighborhoods and type of homes you’re interested in. Because homebuying triggers many emotions, consider whether an agent’s style meshes with your personality.

Also ask if the agent specializes in buyer representation. Unlike listing agents, whose first duty is to the seller, buyers’ reps work only for you even though they’re typically paid by the seller. Finally, check whether agents are REALTORS®, which means they’re members of the NATIONAL ASSOCIATION OF REALTORS®. NAR has been a champion of homeownership rights for more than a century.

7. Be realistic

It’s OK to be picky about the home and neighborhood you want, but don’t be close-minded, unrealistic, or blinded by minor imperfections. If you insist on living in a cul-de-sac, you may miss out on great homes on streets that are just as quiet and secluded.

On the flip side, don’t be so swayed by a “wow” feature that you forget about other issues—like noise levels—that can have a big impact on your quality of life. Use your priority list to evaluate each property, remembering there’s no such thing as the perfect home.

8. Limit the opinions you solicit

It’s natural to seek reassurance when making a big financial decision. But you know that saying about too many cooks in the kitchen. If you need a second opinion, select one or two people. But remain true to your list of wants and needs so the final decision is based on criteria you’ve identified as important.

G.M. Filisko is an attorney and award-winning writer who has found happiness in a brownstone in a historic Chicago neighborhood. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

Report: Right to Rent Legislation Would Slow Growing Rate of Foreclosure

HR 5028 is designed to allow the federal government to modify the foreclosure process to allow homeowners the right to stay in their homes.  But the question does exist if a homeowner is unable to satisifay the mortgage will they be able to make the rent payment.  The bill has the initial appearance of all the other bills out of Washington to help homeowners, they look great on paper but in reality they are ineffective ...

RISMEDIA, September 23, 2010--As the number of homes around the country entering the foreclosure process continues to steadily rise, a recent report from the Center for Economic and Policy Research (CEPR) suggests that giving homeowners the right to rent their house at a fair market price may be one of the best ways to address the nation’s foreclosure crisis.

“With roughly one-in four mortgages underwater, the loan modification plans put forth so far have done little to help homeowners facing foreclosure,” said Dean Baker, Co-Director of CEPR and an author of the report. “Right to Rent, on the other hand, would benefit millions, provide families with real housing security, and could go into effect immediately.”

The report, “The Gains from Right to Rent in 2010,” analyzes the costs of renting versus owning a house in several major cities and finds that the Fair Market Rents in these metropolitan areas is often much lower than the cost of ownership.

“Ordinarily, the gap between owning and renting is not that large.” continued Baker, “Due to the enormous run-up in house prices over the housing bubble years, however, ownership costs now vastly exceed rental costs in many of the bubble markets and homeowners in these markets have much to gain from having the opportunity to remain in a home as a renter following a foreclosure."

The report documents the costs of renting and owning before and after taxes in 16 metropolitan statistical areas (MSAs) and details substantial savings gained from renting across all scenarios depicted. The various scenarios consider the costs of mortgage payments, property taxes, insurance and maintenance costs, and mortgage deductions. An appendix is included that compares ownership and rental costs across 100 MSAs as well.

Under Right to Rent legislation, such as HR 5028, sponsored by representatives Grijalva (NM) and Kaptur (OH), Congress would temporarily alter foreclosure laws to let foreclosed homeowners remain in their homes as renters for a substantial period of time. This would save families from being kicked out of their homes and would go far to stop the blight of foreclosures affecting many of our communities. This plan requires no taxpayer dollars and no new bureaucracy to implement.

RESIDENTIAL REAL ESTATE MARKET BEGINS TO SHOW SIGNS OF NORMAL ACTIVITY

RESIDENTIAL REAL ESTATE MARKET BEGINS TO SHOW SIGNS OF NORMAL ACTIVITY

CHARLESTON, SC—(September 10, 2010) According to preliminary data released by the Charleston Trident Association of REALTORS® (CTAR), 681 homes sold in the region at a median price of $199,055 in August. This reflects a 3% increase in sales and a 6% jump in prices when compared to August 2009, when 658 homes sold at a median price of $187,840.

Year to date, 5,624 homes have sold, compared to the 4,685 that were reported at this point in 2009. The year-to-date median sale price is a healthy 2% ahead of this point last year—$183,982 as of August 2009, and $188,207 thus far in 2010.

“Sales volume is up 20% year-to-date. While the gain is no doubt due in part to the recently expired Home Buyer Tax Credit, the August figures suggest that stability is returning to the market after the post Tax Credit drop-off. We’re slowly moving back toward more normalized market conditions, as consumer confidence is being restored” said Jeremy Willits, 2010 CTAR President.

As of August 31, 2010 there were 9,552 properties listed as actively for sale in the Charleston Trident Multiple Listing Service (MLS). At the end of last August, inventory was comparable, with 9,806 properties actively for sale.

BERKELEY COUNTY
149 sales in Berkeley County at a median price of $177,990 reflect a 19% increase in sales and a reasonable 3% increase in prices compared to August 2009.

CHARLESTON COUNTY
Sales in Charleston County increased 15% compared to the same month last year and prices increased 5%. There were 370 sales at a median price of $253,145.

DORCHESTER COUNTY
In August, 133 residential properties changed hands at a median price of $165,000—a 20% decrease in sales and a 3% decrease in price from August 2009.

JULY 2010 ADJUSTMENT
Preliminary numbers reported for July 2010 indicated 643 homes sold at a median price of $196,573. Adjusted numbers now show 671 sales at $196,540.

With nearly 4,000 members, CTAR’s mission is to promote the highest standards of professionalism, ethics, education and technology, and to ensure that its members are the primary source for real estate services in the South Carolina Lowcountry. Only those who are members of the Association of REALTORS® and its parent organizations are called REALTORS®. To learn more, visit www.CharlestonRealtors.com.

36 Hours in Charleston, S.C. - The New York Times

36 Hours in Charleston, S.C.

By SHAILA DEWAN
Published: September 9, 2010

CHARLESTON still has its cannons aimed at Fort Sumter, where the Civil War began, and has elected the same mayor, Joseph Riley, since 1975. It even has some of the country’s most aggressive historic preservation. But that doesn’t mean this charming Southern city has nothing new to offer. There are new galleries on Broad Street, and a festoonery of restaurants, bars and boutique bakeries have transformed the once-struggling design district on upper King Street. Charlestonians, governed by laws of hospitality as incontrovertible as those of gravity, cannot help themselves from sharing their new finds, even if you are “from off,” as those who grew up on this once swampy peninsula refer to outsiders.

Friday

4 p.m.
1) MEETING LUCINDA

In 1856, Charleston banned the buying and selling of slaves outdoors, a practice viewed as out of keeping with the city’s genteel image. Trade moved indoors to places like Ryan’s Mart, where the first slave sold was a 20-year-old woman named Lucinda. The former auction hall opened in 2007 as the Old Slave Mart Museum (6 Chalmers Street, 843-958-6467; nps.gov/history/nr/travel/charleston). Exhibitions bring slavery to horrifying life in a way few museums do, addressing such topics as the stigma attached to the slave-trading profession and how slaves were dressed, shaved, fed and otherwise prepared for market day.

7 p.m.
2) LOWCOUNTRY CUISINE

For three years running, a restaurant from Charleston has won the James Beard award for best southeastern chef (first Hominy Grill, then Fig, then McCrady’s), so guessing the next winner can be an amusing parlor game. Will it be Glass Onion, with its pickled vegetables and lunch-box aesthetic, or Wild Olive, which showcases local produce and Italian cooking out on Johns Island? A dark-horse contender is Cypress Lowcountry Grille (167 East Bay Street, 843-727-0111; magnolias-blossom-cypress.com), where the chef Craig Deihl makes his own charcuterie (served with lard biscuits, $12) and pork schnitzel ($28) while throwing a bone to value-seeking diners with a $39 prix fixe menu.

10 p.m.
3) JAZZ AGE REFUGE

Charleston is not particularly known for its night life — the options sometimes come down to one outlandishly named martini versus another (caramel macchiatotini? Charlestoniantini?). But locals with an evening to kill stop by the lounge of the Charleston Grill, a grand ballroom of a restaurant tucked away in a posh hotel, the Charleston Place (224 King Street, 843-577-4522; charlestongrill.com). From a glamorous white banquette, you can take in the sophisticated tunes of the Quentin Baxter Ensemble and the very polite antics of practically all of Charleston, from dads and debutantes to Gullah painters. Snack on the truffle Parmesan popcorn ($10) and a kiwi version of the Pimm’s cup ($12).

Saturday

9 a.m.
4) SWEETGRASS AND CREPES
The old South finds new takes at the Charleston Farmers Market in Marion Square (843-724-7305; charlestonarts.sc), a bustling downtown market where you can buy pickled watermelon rind, sweetgrass baskets and flower arrangements that make use of old windows. Be prepared to fight your way through the throngs buying their week’s supply of groceries or lining up for fresh crepes ($4.50 and up; charlestoncrepecompany.com).


10 a.m.
5) SHOPPING BELLES

King Street has long been the stylish epicenter of Charleston, but it’s been invaded by the major chain stores. Take refuge on and around upper King, north of Marion Square, where chic shops and high-concept restaurants coexist with fading emporiums. Pick up a handy one-page guide to parking and neighborhood restaurants at Blue Bicycle Books (420 King Street, 843-722-2666, bluebicyclebooks.com). Sample a pastry at the fashionably French Macaroon Boutique (45 John Street, 843-577-5441; macaroonboutique.com), then browse the baffling assortment of odds and ends at Read Brothers stereo and fabric store, established in 1912 (593 King Street, 843-723-7276; www.readbrothers.com). For a splurge, head to Magar Hatworks (57 Cannon Street, 843-345-4483; magarhatworks.com; call for appointment), a millinery where Leigh Magar makes recherché hats ($175 to $700) that sell at high-end stores like Barneys New York.

2 p.m.
6) NOT QUITE TEETOTALING

Many people spend a lifetime trying to replicate grandma’s recipes — not so at Irvin-House Vineyards (6775 Bears Bluff Road, 843-559-6867; charlestonwine.com), a scenic vineyard about a 30-minute drive from downtown on sleepy Wadmalaw Island. The owners have spent years trying to make muscadine wine without the syrupy, made-at-home sweetness those words bring to Southerners’ minds. Two years ago, the owners took on another iconic Southern taste, iced tea, blending it with vodka to make Firefly Sweet Tea Vodka, whose authentic lazy-Sunday-afternoon flavor made it a runaway success. After the free Saturday vineyard tour at 2 p.m., you can taste both.

4 p.m.
7) OLD GROWTH

On the way back to town, take a short detour to the Angel Oak, a tree so large it could whomp 10 Hogwarts willows (3688 Angel Oak Road). The tree, which is thought to be at least 300 to 400 years old, is threatened by plans for a nearby shopping center. It is protected by a fence; the gate closes at 5 p.m.

6 p.m.
8) BIGGER FISH CAMP

Before the Bowens Island Restaurant burned down in 2006, the humble cinderblock fish camp was covered in decades’ worth of graffiti scrawled by loyal customers. In July, it reopened in a large, screened-in room on 18-foot stilts, with a nicer deck and a better view of the dolphins playing in Folly Creek (1870 Bowens Island Road, 843-795-2757; bowensislandrestaurant.com). Marker-wielding patrons have wasted no time in trying to cover the new lumber with fresh scrawls. You can try to decipher them as you wait for your roasted oysters (bottomless order is $21.50) and oversize hush puppies (a side is $4.25). Get here early to avoid the crush.

8 p.m.
9) GEORGIAN ENCORE

When the Dock Street Theater opened in 1736, the first production had a name only a pre-Revolutionary could love: “The Recruiting Officer.” Luckily, the producers chose a different work, “Flora,” an early English opera, when it reopened this year with all its Georgian splendor restored. Said to be the first theater in America built for that purpose, the Dock (135 Church Street) hosts the Spoleto Festival, the city’s artistic crown jewel, in May and June (14 George Street, 843-722-2764; spoletousa.org) and Charleston Stage (843-577-7183; charlestonstage.com), which presents musicals and popular fare the rest of the year (tickets $20 to $52).

Sunday

9 a.m.
10) STEAMY BUNS

When it opened last year, tiny WildFlour Pastry (73 Spring Street, 843-327-2621; wildflourpastrycharleston.com) created an instant tradition with “sticky bun Sundays.” A steady stream of cravers comes through the door in search of a warm, chewy, generously pecanned confection ($2.70). Those with less of a sweet tooth will be happy with crumbly fruity or savory scones ($2 and up) or a hardboiled Sea Island egg (60 cents).

11 a.m.
11) GARDENS AND GATORS

Ever since Pat Conroy’s novel “Prince of Tides,” Charleston has been known for its mossy, Lowcountry terrain as much as for its picturesque history. At Middleton Place plantation, a National Historic Landmark, one of several plantations within easy reach of downtown, you can get a close-up view of the marsh — or, in winter, of a primeval cypress swamp — on a guided kayak tour ($40). Alligators, bald eagles and river otter are among the possible sights, as is the architectural award-winning Inn at Middleton Place, where the tours meet (4290 Ashley River Road, 843-556-0500; charlestonkayakcompany.blogspot.com). After, you can take in domesticated nature on the plantation grounds, billed as the oldest landscaped garden in the country, with twin butterfly lakes, or visit the blacksmith and cooper workshops (4300 Ashley River Road, 800-782-3608; middletonplace.org). Some things in Charleston don’t change.

IF YOU GO

Multiple airlines, including Delta, U.S. Airways and Continental, fly nonstop to Charleston from New York. A recent Web search found round-trip fares starting at about $391.

Just off Marion Square, the Hampton Inn Charleston-Historic District (345 Meeting Street, 843-723-4000; hamptoninn.hilton.com) is in a restored warehouse just old enough to be billed as the area’s only antebellum hotel, with a fitness center, pool and 170 rooms, from $189.

The Battery Carriage House Inn (20 South Battery, 843-727-3100; batterycarriagehouse.com), has 11 rooms a stone’s throw from White Point Gardens at the Battery. Enjoy breakfast in a shady walled garden reputed to be haunted. Rooms from $150.


A version of this article appeared in print on September 12, 2010, The New York Times

Boeing Co.’s 150-acre assembly line

These photographs were published in The Post & Courier on Sunday, September 5, 2010, and give a great view from above of the construction at Boeing.

November 2009

December 2009

April 2010

June 2010

August 2010

Photos by Aerial Photos Elite.

To see original post: http://www.postandcourier.com/photos/galleries/2010/sep/06/boeings-150-acre-assembly-line/12834/

212 Coming Street

OPEN HOUSE - Wednesday, September 8 from 11:30 A.M. to 1:30 P.M.

1824 Sol Legare Rd. - 8.1 Acres, James Island, SC

Vacant land for sale on James Island, close to Folly Beach and minutes to Historic Charleston, SC - $390,000

1824 Sol Legare Rd, James Island, SC

8.1 acres on James Island for sale $390,000

PRICE REDUCED TO $328,000

LITTLE OAK ISLAND, FOLLY BEACH

Owen Tyler | Carolina One Real Estate | owen@owentyler.com | (843) 224-5398 228 Little Oak Island Dr, Folly Beach, SC FOLLY BEACH CONDO 2BR/2BA Condo offered at $249,000 Year Built 1983 Sq Footage 1,175 Bedrooms 2 Bathrooms 2 full, 0 partial Floors 2 Parking 1 Uncovered spaces Lot Size Unspecified HOA/Maint $530 per month DESCRIPTION BIG views from this fantastic condo fronting the Folly River in gated Little Oak Island. Wonderful two story unit with vaulted ceilings and lovely outdoor living space. Enjoy views from every room. Family room - dining room combination and galley style kitchen flows seamlessly to the screen porch and deck. Large master suite on 2nd floor with private balcony. Tons of windows and wood flooring through out. Property is part of the Mariners Cay Regime with use of all amenities and a partial member of Little Oak Island HOA with use of the pool and tennis courts at Little Oak Island. Well cared for owner occupied unit - a MUST SEE! If square footage is important - MEASURE!! see additional photos below PROPERTY FEATURES - Central A/C - Central heat - Fireplace - High/Vaulted ceiling - Walk-in closet - Hardwood floor - Tile floor - Family room - Dishwasher - Refrigerator - Stove/Oven - Microwave - Washer - Dryer - Laundry area - inside COMMUNITY FEATURES - Guest parking - Clubhouse - Swimming pool(s) - Tennis court(s) - Gated property - Secured entry ADDITIONAL PHOTOS Photo 1 Photo 2 Photo 3 Photo 4 Photo 5 Photo 6 Contact info: Owen Tyler Carolina One Real Estate owen@owentyler.com (843) 224-5398 For sale by agent/broker Equal Opportunity Housing Posted: Aug 20, 2010, 12:50pm PDT

‘BORROWED’ CLOSINGS LEAD TO FEWER SALES IN JULY

CHARLESTON, SC—(August 10, 2010) Preliminary figures released by the Charleston Trident Association of REALTORS® (CTAR) show that 643 sales closed in July at a median price of $196,573. Comparatively, July 2009 saw 796 closings with a median price of $181,889. This July’s figures represent a year-over-year difference of 19% fewer sales and an 8% increase in prices.

As of July 30, 2010, there were 9,737 homes listed as actively for sale with the Charleston Trident Multiple Listing Service.

BORROWED CLOSINGS
“July’s closings were down more than usual, but that’s likely because the tax credit deadline was June 30, and the extension to close wasn’t granted until the final days of June. Buyers who would have likely closed in July rushed to close in June in order to take advantage of the tax credit” said Jeremy Willits, 2010 President of CTAR.

“The tax credit allowed us to borrow closings from future months,” said Willits. “We normally see the market slow down around August or September, but this year, it happened a little earlier than usual.” The homebuyer tax credit encouraged buyers who may have waited until the typical buying season of June, July and August to place contracts by the April 30 tax credit deadline, resulting in those closings and the arrival of the busy season coming several months early.

WHAT’S MOVING
The jump in median price could be attributed to increased movement in the $300-399,000 price range, which was unusually active during July. In previous months, most sales activity has been concentrated in the $140,000 and $200,000 ranges.

“The increase in activity within the $300,000 and above range explains the sharp jump in prices. Unless the activity in this range keeps up, I would expect that we’ll see prices return to the mid-$180 range that’s been typical for 2010.” said Willits.

Another factor driving the price increase could be increased activity in Charleston’s resort communities. Kiawah and Seabrook Islands have seen increases in both sales volume and prices, while median prices in Wild Dunes tracked close to $1 million in July, when they’ve been closer to the $600,000 range for most of 2010.

BERKELEY COUNTY
Berkeley County saw 147 homes sell at a median price of $165,000 in July. This represents a 23% decline in sales and a 12% increase in prices, when compared to July 2009. Most of the County’s activity was in the Goose Creek/Moncks Corner area, as well as the area between Jedburg Road and Highway 17-A.

CHARLESTON COUNTY
Sales in Charleston County fared better than either of the other counties, with 341 sales at a median price of $250,000. Compared to July 2009, the County saw a 16% decrease in sales volume but a 9% increase in median price. The most active areas of Charleston County were Mount Pleasant South of Highway 41 and James Island.

DORCHESTER COUNTY
131 sales in Dorchester County show a 23% decline from July 2009, when 170 homes changed hands. Prices remained stable, but reflected the smallest increase among the three counties, which could be attributed to the high number of foreclosures in the County. The median price for homes sold in July was $169,829, up 2% from July 2009’s $166,837.
The most active area of the county was in the Summerville/Ridgeville area.

JUNE 2010 ADJUSTMENT
Preliminary numbers reported in June 2010 indicated 1,022 homes sold at a median price of $185,612. Adjusted numbers now show 1,072 sales at the same median price.

With nearly 4,000 members, CTAR’s mission is to promote the highest standards of professionalism, ethics, education and technology, and to ensure that its members are the primary source for real estate services in the South Carolina Lowcountry. Only those who are members of the Association of REALTORS® and its parent organizations are called REALTORS®. To learn more, visit www.CharlestonRealtors.com.