59 Arbor Trace in Shadowmoss

59 Arbor Trace on the golf course in Shadowmoss

Could Insurance Reform Be On The Way for South Carolina?

In the first serious shot at home insurance reform in six years, a Lowcountry legislator introduced a bill that would provide tax credits to coastal insurers and arm consumers with better information to shop.

Read the entire story in The Post and Courier --
http://www.postandcourier.com/article/20130326/PC16/130329468/sc-home-insurance-reform-bill-sets-stage-for-efforts-to-reduce-premiums&source=RSS

Charleston Realtors association adds Lowcountry ‘watch’ list

The Charleston Trident Association of Realtors released its February home sales figures last week, reporting another month of improved sales volume and prices.

 

That’s been constant for more than a year, but the group’s latest report added something new: a “watch” list highlighting particularly strong areas in the region.

 

 

To read the entire article http://www.postandcourier.com/article/20130318/PC05/130319336/1010/charleston-realtors-association-adds-lowcountry-x2018-watch-x2019-list

 

 

 

East Cooper native plays active role as Realtor group president while staying up-to-date on agent business

East Cooper native plays active role as Realtor group president while staying up-to-date on agent business

Read the entire article

http://www.postandcourier.com/article/20130309/PC2110/130309305/1145/east-cooper-native-plays-active-role-as-realtor-group-president-while-staying-up-to-date-on-agent-business

Sales are booming, prices are steadily trending upward in a robust Charleston-area market

Residential Real Estate Sales 18.7% Ahead of 2012 Levels

Sales are booming, prices are steadily trending upward in a robust Charleston-area market

CHARLESTON, SC—(March 11, 2013) 722 homes sold at a median price of $181,334 in the Charleston region in February, according to data released today by the Charleston Trident Association of REALTORS®. February’s sales figures are most comparable to pre-recession market activity seen in February 2008, when 733 homes sold. Pricing figures are trending closer to February 2009 levels, when the median price for our area was $183,322 but only 448 homes sold.

Year-to-date, 1,367 homes have sold at a median price of $181,917 in the region. The number of homes for sale in the multiple listing service (MLS) has declined by about 1,000 when compared to this time last year—there are currently 5,632 homes available in the Charleston MLS. Sales are pacing almost 19% ahead of this time last year, while prices show healthy and maintainable 4% growth.

“When you look at the last decade of market activity, you can see how well our market is performing following the economic downturn” said 2013 CTAR President, Owen Tyler. “More importantly, you can clearly see that the activity in 2005 and 2006, particularly the sales activity, was abnormal and that the sales and pricing activity we’re seeing now is indicative of a more balanced and sustainable market” Tyler said.

 

 

 

The expectation from the Association and MLS executives is that sales and pricing will be stable and trend positively in 2013, but the trend of minimal inventory may spur more growth on the pricing side than previously anticipated. “Many areas of our region are squarely in seller’s market territory” said Dave Sansom, 2013 President of the Charleston MLS. “That doesn’t mean that sellers can start overpricing their homes and expect them to sell, but it does mean that they have a bit more room to negotiate for the price they want than they have in recent years” said Sansom. Tyler concurs, “Some buyers are having a tough time finding the home they want in the area they want because there are half as many homes on the market today.”

 

JANUARY ADJUSTMENT  Preliminary data reported in January indicated that 634 homes sold at a median price of $181,740. Adjusted numbers now show slight increases, with 645 homes sold at a median price of $182,500.

 

BERKELEY COUNTY

171 homes sold at a median price of $160,000 in Berkeley County last month. The areas bordered by Highway 17A and College Park and Goose Creek/Moncks Corner had the highest rate of sales activity.

 

Berkeley County Area to Watch: Daniel IslandDaniel Island posted significant gains in both sales activity and pricing in February. Sales increased by 171% when compared to last February and prices have increased by 28%. In February 2012, 7 homes sold at a median price of $447,000 on the Island; this February shows 19 sales at a median price of $573,300. February’s strong activity follows a year of positive trends in 2012, when prices increased almost 13% and inventory declined by almost half—44%.

 

CHARLESTON COUNTY

Of the 371 homes sold at a median price of $239,500 in Charleston County in February, 108 of those sales took place in Mount Pleasant. Outside of Mount Pleasant, North Charleston/Summerville (outside I-526) had the most sales with 52 homes selling at a median price of $120,432.

 

Charleston County Area to Watch: Upper Charleston Peninsula

At the end of 2012, inventory had declined nearly 35%, sales volume had increased by 50% and median price climbed 8.2%. In February, the Upper Peninsula area continued to thrive, with sales nearly doubling from February 2012’s 11 transactions to 20 this February. Median price continues to increase steadily and inventory remains low with just over 100 homes for sale in the area.

 

DORCHESTER COUNTY

154 homes sold at a median price of $154,250 in Dorchester County in February. The area of Summerville/Ridgeville was the most active area, with 74 sales at a median price of $161,256.

 

Dorchester County Area to Watch: Summerville/Ridgeville

Consistent and steady is the name of the game in Summerville/Ridgeville. The area performed consistently well in 2012, showing 9.5% growth in sales volume and an 8% increase in prices. This February, the area saw an explosion of sales activity—74 homes sold this February compared to 49 in February 2012 and prices are steadily consistent in the $160,000 range.

With 3,600 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®.

 

Considering Selling Your Home?

Immigrant homebuyers have bolstered the housing market

According to the WSJ and a report recently released, "Immigrant homebuyers have bolstered the housing market across the country in the past decade and will continue to fuel demand at least through 2020..."

To see the full article visit http://online.wsj.com/article/SB10001424127887324034804578344580600357570.html?wpisrc=nl_wonk

Charleston City Paper - Best Realty Company Named

Charleston City Paper readers selected Carolina One Real Estate Best Realty Company of 2013.

 

 

 

 

 

 

March 2013, e-Newsletter

My e-Newsletter for March 2013 is out. 

If you missed it, send me an e-mail and I will forward you a copy.

Single Family Renters More Likely to Stay for 5 Years or Longer

Are you considering an investment in rental property but the concern of tenant turnover is holding you back? 

According to a study released on February 25, 2013, turnover in a single family property might not be as high as you think.

According to WSJ's Nick Timiraos, "Some 26% of single-family-home renters said they planned to live in their current rental for five years or more, compared with 22% for renters in multifamily buildings. Three out of every five single-family renters also said they planned to become a homeowner within five years, compared with just 44% of apartment renters."

This is information that most investors owning single family property already know, but it is great to see it solidified in the National Survey of Renters.

 

To read the entire article and see the study visit: http://blogs.wsj.com/developments/2013/02/25/survey-single-family-renters-more-likely-to-stay-longer/

 

 

 

 



925 Parrot Creek Way

Don't miss this home with great views and deep water minutes from Historic Charleston