Zip Code 29403 - Home to the Hipsters?

According to RealtyTrac part of Charleston, SC has made the list of the best place to flip homes and sell to "Hipsters" otherwise known as the Millennial generation.

Regardless of whether you are a Hipster or non-Hipster give me a call and lets locate a property for you today.  I can be reached on my mobile at 843-224-5398 or via e-mail Owen@OwenTyler.com

http://www.housingwire.com/articles/29013-the-top-20-markets-for-flipping-homes-to-hipsters?page=1

How to Paint a Room

There are few things I dislike more than painting and my advice is to call a professional. 

However for those of you industrious enough attempt your own paint job, my October 2013 e-Newsletter breaks down the process of painting a room in 12 easy steps...

To read all 12 Steps.

Midyear Data Shows Healthy Growth, Sustainable Gains in Charleston Real Estate Market

 

According to preliminary data released today by the Charleston Trident Association of REALTORS® (CTAR), 1,272 homes sold at a median price of $209,950 in July. Last July, 972 homes sold at a median price of $209,950 in the Charleston region.

 

Year-to-date, residential sales volume has increased 24% over this time last year and prices have risen by 10%. At the end of July 2012, 5,973 homes had sold at a median price of $182,400. This July, 7,417 homes have sold at a median price of $200,834.

 

Sales volume and median home price has increased steadily over the last 12 months as the Charleston region leads the state in terms of real estate market recovery. “Charleston is a very desirable place to be, aesthetically, but people and businesses are flocking here because of our thriving economy as well,” said 2013 CTAR President Owen Tyler.

 

At the REALTOR® Association’s midyear market update last week, research economist Dr. Joseph Von Nessen cited the region’s strong economic growth over the last year as a major contributor to the area’s strengthened housing market, but did warn that slowing job growth could have an impact on sales later in the year.  “We may see a slight adjustment in the pace of sales growth, but as Dr. Von Nessen mentioned, it’s unlikely that we will see any type of contraction in the market” said 2013 MLS President, Dave Sansom. “We expect to end the year showing a significant gain in sales volume over 2012 and ongoing growth in pricing as well—especially as inventory remains at this low level” added Tyler.

 

Inventory has held steady in the mid-5,000 home range for most of this year, with 5,770 homes listed as actively for sale in the Charleston Trident Multiple Listing Service (MLS) at the end of July. Comparatively, there were slightly more homes for sale at the end of last July, when 6,328 homes were on the market.

 

June AdjustmentPreliminary figures for June 2013 indicated 1,314 homes sold at a median price of $219,340. Adjusted figures now show 1,338 homes sold at the same median price.

 

Berkeley CountyIn July, the Berkeley County market posted its highest number of sales for the year, an increase of nearly 100 monthly transactions when compared to July 2012. 289 homes were sold at a median price of $170,000 in the county last month. Year-to-date, the county shows a 25% increase in sales volume with 1,566 total sales and nearly 4% growth in prices—a healthy, sustainable pace—as the median price climbed to $168,000.

 

Charleston County

Charleston County sales increased at a similar rate to those of its sister counties in July, with 702 sales at a median price of $265,000.  The county is tracking year-to-date increases of 24% in sales volume and 9% growth in prices—so far this year, 4,241 homes have sold in Charleston County at a median price of  $245,000.

 

Dorchester County

241 homes sold at a median price of $175,000 in Dorchester County in July.  The county leads the region in year-to-date sales volume growth, with 26.5% more sales than 2012 and stability in pricing, with less than 1% variance over 2012’s year-to-date figures. So far in 2013, there have been 1,387 residential transactions with a median price of $167,215.

 

Data prepared by the Charleston Trident Association of REALTORS®

Just how expensive is it to buy a parking spot?

What does $465,000 buy you in London? A parking space (but just for 91 years)


                                                                    Courtsey Kay & Co

This parking space in London's Hyde Park Gardens is on sale for $465,000

By Henry Austin, NBC News contributor

LONDON -- A parking spot has been put on the market in Britain's capital for an eye-watering $465,000.  

Measuring just 11 feet by 12 feet, the space is located in the exclusive Hyde Park Gardens neighborhood near Buckingham Palace, where houses often cost millions of dollars and parking is also at a premium.

Despite costing almost twice as much as the average U.K. home, real estate agents Kay and Co said several people have already expressed interest in the six-figure spot, which is being sold with a 91-year lease.

"We anticipate that the space will attract interest from local residents eager to secure parking close by," associate director Mathew Abernethy said. He added that the company had sold two spaces in the same row for more than $387,000 in the past 18 months.

 

"You have a large apartment there that has sold for over $9 million that doesn't have any parking and the people who are in the sort of bracket want parking," Abernethy said. 

However, the company had also sold a studio apartment nearby for just $775 less than the price of the space.

With parking rates in some parts of central London average about $60 for 24 hours and parking fines start at $123, Abernethy pointed out that calculated over the course of the lease the daily rate works out to just $14.25.

"When you look at it in those terms it's very cheap," he said. 

With space at a premium in cities worldwide, the price of parking has risen across the globe.
In 2009, a parking spot in Boston sold for $300,000 and it was reported last year that a spot in Manhattan was on the market for more than $1 million.

However, $465,000 would buy you a four-bedroom house in Kansas City.

Halfway through 2013, Charleston Real Estate Market Shows Stability and Progress

 

CHARLESTON, SC—(July 10, 2013) According to preliminary data released today by the Charleston Trident Association of REALTORS®, 1,314 homes sold at a median price of $219,340 in June. Last June, 1,059 homes sold at a median price of $199,900 in the region.

At this time last year, 5,000 homes had sold at a median price of $181,700. Year-to-date data for 2013 shows that 6,117 homes have sold in the region at a median price of $200,440—a 22% increase in sales and a 10% increase in median price for the year.

Inventory still remains remarkably low, with 5,655 homes listed as “active” for sale with the Charleston Trident Multiple Listing Service (CTMLS). “We continue to monitor the low inventory trend in our region,  as well as specific areas of the Lowcountry like Mount Pleasant and West Ashley, where finding an available home in the most popular price ranges--$200 and $300,000—is increasingly difficult” said 2013 CTMLS President, Dave Sansom.

Halfway through the year, the Charleston market is performing exceptionally well and is showing a strong basis for ongoing growth. “While more than half of the transactions are being conventionally financed, nearly a quarter of homes are being paid for in cash, which indicates a healthy mix of traditional buyers and professional investors purchasing homes in our market” said 2013 CTAR President Owen Tyler.  “Interest and activity among prospective buyers is still very strong and doesn’t appear to have been negatively impacted by the recent adjustments in mortgage rates. However, it’s still fairly early to make a clear assessment on how much the recent rate changes will affect the Charleston market” said Tyler. While mortgage rates have risen since the start of the busy summer buying season, they are still at historic lows and did ease slightly last week, from an average of 4.6% to 4.29% for a 30-year fixed loan.

 

MAY ADJUSTMENTPreliminary data reported for May indicated that 1,277 homes sold at a median price of $212,000. Adjusted numbers now show 1,291 homes sold at a median price of $213,000.

 

BERKELEY COUNTY

Both buying and pricing trends in Berkeley County are trending strongly upward—281 homes sold in the county in June, at a median price of $189,000. In June 2012, 208 homes sold at a median price of $164,300.

CHARLESTON COUNTY

752 homes sold at a median price of $255,500 in Charleston County in June. While sales volume declined slightly from May, when 770 homes sold, it has increased significantly since June 2012, when 627 homes sold at a median price of $239,390.

 

DORCHESTER COUNTY

Home sales spiked in Dorchester County in June, with the County’s highest level of sales since June 2010. 249 homes sold at a median price of $179,000 in June. Comparatively, 182 homes sold last June at a median price of $157,500.

 

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®.

 

 

 

June's E-Newsletter Has Arrived

Don't miss my E-Newsletter for June 2013

 

 

This edition includes --

3 Reasons to Refinance Now

Essentials for a Relaxing Outdoor
Living Space

5 Reasons Your Home Isn't Selling

 

 





1573 Longview Road in Mount Pleasant

Very nicely updated in centrally located Candlewood subdivision in Mount Pleasant, South Carolina

Spectacular Home on James Island

Renovated and updated from top to bottom on James Island

BUY your next home with Owen Tyler

Have you been thinking about purchasing a property in the greater #Charleston area?

 

Now is a great time to find your #home.  Search like a #REALTOR, save the ones you like, and request information and schedule appointments to view properties all in one place https://www.facebook.com/CharlestonForSale/app_115689025197532

 

 

For additional information please feel free to call Owen at 843-224-5398 or visit him at http://OwenTyler.com .

59 Arbor Trace in Shadowmoss

59 Arbor Trace on the golf course in Shadowmoss

Considering Selling Your Home?

Charleston City Paper - Best Realty Company Named

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

 

 

 

 

 

 

1279 Appling Drive in Mount Pleasant, South Carolina

Uber Kewl in Downtown Charleston, Midtown

Should I Sell My House Now?

Do Market Opportunities and a New $6,500 Tax Credit Make it a Good Time To Sell?

A new revision to the recently extended Homeowner's Tax Credit may be a window of opportunity for some home owners who have been wanting to sell their home, whether to move up or to downsize, but have adopted a "hunkering down" mentality.


The new tax credit is for current homeowners: if you have owned and resided in your home for at least 5 consecutive years out of the past 8 years, you can qualify for up to a $6500 tax credit.

If you combine this new tax credit with historically low interest rates and great values in the market place, it might be a really opportune time to make your move. However, this tax credit is only for a limited time and waiting too long may cause you to miss out on market opportunities that could benefit you. Each person's situation is different. I will be happy to provide a no-obligation consultation to discuss your home's current value as well as the prices of homes in your target range and explain in more detail the stipulations on the tax credit. Don't look back and wish you had sold your home instead of waiting. There's no obligation to explore your options. Call me to schedule a meeting today.