EXCITING ANNOUNCEMENT

I am thrilled to announce that I have joined The Cassina Group, LLC as Managing Broker.

I have begun the transfer over to The Cassina Group and will begin in my new position on Tuesday, April 1, 2014.  I have had great success during my time at Carolina One Real Estate Services and am so appreciative of the support they have provided me.

The opportunity to be part of The Cassina Group was one that I could not let pass me by.  The chance to work in a quickly growing,  boutique real estate firm atmosphere with a strong technology base is fantastic and to be part of a team of full-time, highly successful,  professional  real estate agents is the icing on the cake.

In 2013, The Cassina Group received statewide accolades as one of the fastest-growing companies in the state by SCBiz News’ Roaring Twenties and was ranked in the Top 10 Firms locally having closed $152.8 million with 19 real estate agents.

The Cassina Group has offices in both Mount Pleasant and downtown Charleston.

While my moniker and contact information will change, my dedication to superior customer and client services and the practice of the best real estate possible will not change.  Please feel free to visit our impressive company web site, http://TheCassinaGroup.com.

My mobile number, (843) 224-5398, will stay the same and you can always contact me at Owen@OwenTyler.com or owen@TheCassinaGroup.com.

Owen Tyler ABR CRS RSPS

Managing Broker

The Cassina Group, LLC

309 Coleman Blvd

Mt. Pleasant, SC  29464

www.TheCassinaGroup.com

O.  (843) 628.0008

M.  (843) 224.5398

F.   (866) 308.9084

I look forward to working with you at The Cassina Group and please do not ever hesitate to call or e-mail or even drop-in the office for a visit.

Owen

Cost vs. Value Report for 2014

Remodeling Magazine has released the Cost vs. Value 2014 for Charleston, SC.

If you have a real estate question or need assistance please don't hesitate to call, 843-224-5398 or e-mail me Owen@OwenTyler.com

Don’t-Miss Home Tax Breaks

Tax time has arrived, from the mortgage interest deduction to energy tax credits, here are the tax tips you need to get a jump on your returns.

Read the entire article

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

Residentia​l Real Estate Starts Strong In January 2014, But Inventory Is Low

Per the Charleston Trident Association of REALTOR's data report released today, "748 homes sold at a median price of $211,750 in January. Last January, 648 homes sold at a median price of $183,425 in the region."

The report goes on to state, "Inventory increased slightly from December, with 5,420 listed as ‘active’ for sale in the Charleston Trident Multiple Listing Service (CTMLS). Throughout the last 12 months, inventory remained consistent, with approximately 5,600 homes on the market in an average month. Lower inventory levels are typical coming out of the holiday season, and it is expected to continue increasing as we move closer to the spring."

Even with the slight increase of inventory from December 2013 to January 2014 many sellers are seeing multiple offers and properties selling for more than list price in certain areas of the Lowcountry.

The Association's analysis of MLS data confirms that, "Sales activity is off to a strong start in 2014, about 15% ahead of January 2013. Median price has also increased 15% over last January. However, as expected, the pace of growth in our market has slowed a bit. Last year began with 20% year-over-year increases and held steady throughout the year. This year, growth is expected to progress at a more modest, but healthy pace."

In Berkeley County 182 homes sold at a median price of $189,000 in Berkeley County in January. The most active area in the county was in the North area, bordered by Jedburg Road, Highway 17A and College Park, with 49 sales at a median price of $191,495.

In Charleston County during January, 413 homes sold at a median price of $260,000.  Outside of Mount Pleasant, where 123 homes sold at a median price of $337,249, West Ashley (outside I-526) was the most active area during the month with 56 sales at a median price of $234,801. James Island also put up impressive numbers in January, with 52 homes sold at a median price of $254,000

In Dorchester County 134 homes sold at a median price of $173,450 in January in Dorchester County. The most active area was Summerville/Ridgeville, where 60 homes sold at a median price of $183,500

If you are considering selling or buying real estate or if you know someone who is, please don't hesitate to call or e-mail, it would be an honor to be the REALTOR of choice.

If you are considering selling or buying real estate or if you know someone who is, please don't hesitate to call or e-mail, it would be an honor to be the REALTOR of choice.

January 2014 Sales By Area - Residential

Curious what the residential median sales price was in your area of the Lowcountry during January 2014?  Find your area in the list below!

For specific questions regarding your property, please don't hesitate to call or email.

Information below is compiled from the Charleston Trident Assoc of REALTORS MLS and while the number of sales & dollar value may change slightly as late sales are entered into the MLS, median & average are not expected to change significantly

Eco-friendly Flooring for 2014

It is 2014, is it time to update your floor covering? Flooring can make all the difference when selling your home. Checkout the list of Eco-friendly flooring in my January e-Newsletter ...

Interested in receiving my monthly e-Newsletter direct to your Inbox, just e-mail me and let me know.

The Hot Interior Colors for 2014

Sprucing up your home this year?  Maybe a different wall color or maybe a decorative pillow?  Check the latest post from Paint Quality Institute on Hot Interior Colors of 2014 .

2014 Color of the Year Revealed

And the winner is, drum roll please, Radiant Orchid .... who?  Yes this year's color of the is mauve-ish...

I loved 2013's winner of Emerald, but I'm just not sure I can jump on the band wagon for Radiant Orchid.

December 2013 E-Newsletter

Great tips monthly that aren't strictly related to your home. 

As winter comes in with a strong gust, check out "4 Tips to Make Your Home More Energy Efficient."

Lowcountry Homes Sales Continue To Be Strong

 

 

 

FOR IMMEDIATE RELEASE

 

Year-to-Date Real Estate Sales Up 23%, Median Price up 8.5% in Charleston Region

 

CHARLESTON, SC—(November 18, 2013)  According to preliminary data released today by the Charleston Trident Association of REALTORS® (CTAR), 1,020 homes sold at a median price of $190,000 in October. Last October, 920 homes sold at a median price of $185,000 in the region.

Year-to-date 10,897 homes have sold at a median price of $203,947 in an average of 86 days. Compared to this point in 2012, sales have increased by 23% and median price has risen by 8.5%. Year-to-date figures in 2012 showed 8,842 sales at a median price of $187,894.  Inventory rose very slightly, with 5,836 homes listed as ‘active’ for sale in the Charleston Trident Multiple Listing Service (CTMLS).

“As we expected, we didn’t see much, if any impact from the government shutdown during October. Sales progressed at a normal pace and any transactions that were delayed by the temporary shutdown have likely closed. However, changes to the National Flood Insurance Program (NFIP) are impacting real estate in the Lowcountry, as rates adjusted for many residential and commercial property owners on October 1, who purchased or are purchasing pre-FIRM properties.  This has affected the ability to buy and/or sell some properties classified as high risk, since the premiums on some properties increased significantly” said 2013 CTAR President, Owen Tyler.

CTAR continues to work with our state and national counterparts to ensure this issue is properly addressed by our legislators.  NAR Past President Moe Veissi is scheduled to testify at a Congressional hearing sponsored by the House Financial Services Committee, Housing and Insurance Subcommittee, on Tuesday, November 19.  His testimony will include several examples of high premiums and sales being delayed form the Charleston area.  Sens. Tim Scott and Lindsey Graham and Congressman Mark Sanford have co-sponsored “Homeowner Flood Insurance Affordability Act” H.R. 3370 and S. 1610, which would delay the flood insurance rate hikes until FEMA concludes its affordability study and can have time to propose and implement revisions to Biggert-Waters.

 

SEPTEMBER ADJUSTMENTPreliminary data reported for September 2013 indicated that 1,133 homes sold at a median price of $209,000. Adjusted figures now show 1,138 homes sold at a median price of $207,060.

 

BERKELEY COUNTY227 homes sold at a median price of $171,090 in Berkeley County in October. The most active area in the county was the area bordered by Jedburg Road, Highway 17A and College Park, with 60 sales at a median price of $160,915.
CHARLESTON COUNTYIn Charleston County in October, 566 homes sold at a median price of $288,147.  West Ashley (outside I-526) was the most active area during the month with 80 sales at a median price of $197,219.

DORCHESTER COUNTY188 homes sold at a median price of $162,500 in October in Dorchester County. The most active area was Summerville/Ridgeville, where 80 homes sold at a median price of $163,750.

 

# # #

 

With 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®.

 

__________________________________________________________________________________________

Year-to-date sales up 25%, median price gains 10%

Charleston-Area Home Sales and Prices Rise through Third Quarter
Year-to-date sales up 25%, median price gains 10%

CHARLESTON, SC—(October 10, 2013)

According to preliminary data released today by the Charleston Trident Association of REALTORS® (CTAR), 1,133 homes sold at a median price of $209,000 in September. Last September, 876 homes sold at a median price of $190,000 in the region.
 Year-to-date 9,861 homes have sold at a median price of $209,000 in an average of 86 days. Compared to this point in 2012, sales have increased by 25% and median price has risen by 10%. Year-to-date figures in 2012 showed 7,906 sales at a median price of $190,000.  Inventory is holding steady with 5,676 homes listed as ‘active’ for sale in the Charleston Trident Multiple Listing Service (CTMLS).

“We’ve closed almost as many sales in three quarters of 2013 as we did in the whole of 2012” said Dave Sansom, 2013 President of the CTMLS. “It has been a remarkable year of growth and progress for the Charleston-area real estate market. While we are heading into the end of the year and market activity may quiet down some, there are plenty of active and motivated buyers in the market” Sansom said.
 
The ongoing government shutdown isn’t expected to drastically impact the local real estate market unless it persists for a significant amount of time, but it is cause for buyers to ensure that they are working with a qualified REALTOR®.  “We don’t anticipate a major impact to productivity in our market but there may be some delays, particularly if you are seeking a federally-backed loan. Private banks have the ability to continue to close loans with the caveat of verifying the information they don’t currently have access to—tax transcripts, for example—once the government has reopened for business” said 2013 CTAR President Owen Tyler. “The shutdown could make buying a home a little more complicated, depending on the type of loan you’re securing. However, working with a qualified REALTOR® who knows how to navigate these temporary changes should alleviate any worry or concern for the buyer” added Sansom.
 
The changes to the National Flood Insurance Program (NFIP) have been a cause for concern for some Lowcountry buyers and sellers, as rates are adjusting to restore solvency to the NFIP. However, it is important to understand that every property is different. “Homes in the same neighborhood or even next door to one another can be impacted in very different ways. Seek the counsel of a trusted insurance agent to determine current and future rates for a property. If you are hoping to sell your home, invest in a current elevation certificate” said Tyler.
 
AUGUST ADJUSTMENTPreliminary data reported for August 2012 indicated that 1,278 homes sold at a median price of $217,462. Adjusted figures now show 1,290 homes sold at a median price of $217,726.
 
BERKELEY COUNTY231 homes sold at a median price of $180,000 in Berkeley County in September. The most active area in the county was the area bordered by Jedburg Road, Highway 17A and College Park, with 59 sales at a median price of $188,790.

CHARLESTON COUNTYIn Charleston County in September, 674 homes sold at a median price of $259,200. West Ashley (outside of I-526) was the most active area during the month with 88 sales at a median price of $184,456.
DORCHESTER COUNTY189 homes sold at a median price of $176,000 in September in Dorchester County. The most active area was Summerville/Ridgeville, where 103 homes sold at a median price of $187,500.
 

# # #

 

With 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®.

10th Annual Children's Museum Gala | Oct. 10, 2013

Looking for a way to give back and have a great time?  Then add Viva O Carnaval to your social calendar for October 10, 2013!  The gala benefits Children's Museum of the Lowcountry.

To purchase select the link below and you will be taken to a secured site.

http://explorecml.org/cml/index.php?option=com_content&view=article&id=86&Itemid=96

Residential Sales Have Increased 24% Year-To-Date

 

 

Charleston-area residential real estate sales strong through summer’s end

 
CHARLESTON, SC—(September 10, 2013) According to preliminary data released today by the Charleston Trident Association of REALTORS®, 1,278 homes sold at a median price of $217,462 in August. Last August, 1,034 homes sold at a median price of $199,414 in the region.

Year-to-date, 8,706 homes have sold at a median price of $205,417 and in an average of 87 days. Compared to this point in 2012, sales have increased by 24% and median price by 7.6%. Days on market have declined by an average of 27 days, meaning homes are selling nearly a month faster than they were a year ago. In August 2012, year-to-date figures showed 7,030 sales at a median price of $190,907.
 
“Looking at the year-to-date figures, we are positioned to finish 2013 with significant gains in sales volume and healthy, steady growth in prices” said 2013 Multiple Listing Service (MLS) President, Dave Sansom. “Thus far, we’ve made more progress than we anticipated in 2013 and this level of growth is sustainable for our market” said Sansom.
 
Inventory has held steady throughout the year, with 5,702 homes listed as “active” for sale in the MLS database. This figure represents approximately five months of inventory available in the region and considered by industry experts to be the benchmark of a balanced and healthy real estate market.
 
“As we expected, the minimal increases in mortgage rates have not soured the demand for residential real estate in Charleston” said 2013 CTAR President, Owen Tyler. “Buyer activity and interest is still very strong—the mix of cash buyers/investors and traditional buyers who recognize the long-term value of Charleston-area  real estate have helped keep the pace of sales high and our prices strong and stable” he continued.
 
JULY ADJUSTMENTPreliminary data reported for July indicated that 1,272 homes sold at a median price of $209,950. Adjusted numbers now show 1,280 homes sold at a median price of $210,000.
 
BERKELEY COUNTY
257 homes sold at a median price of $180,000 in Berkeley County in August. The most active area in the county was the area bordered by Jedburg Road, Highway 17A and College Park, with 66 sales at a median price of $175,045.

CHARLESTON COUNTY
Charleston County sales and median price increased in August, with 731 sales at a median price of $270,000. Homes in the county are spending an average of 77 days on market, the lowest average recorded this year. Outside of Mount Pleasant, where 250 homes sold at a median price of $381,125, the county’s most active area was James Island, with 83 sales at a median price of $245,000.
 
DORCHESTER COUNTY
253 homes sold at a median price of $165,000 in August in Dorchester County. The most active area of the county was Summerville/Ridgeville, where 101 homes sold at a median price of $184,990.

With 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®. To learn more, visit www.CharlestonRealtors.com.

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.

Double-digit trends in midyear home reports

The National Flood Insurance Program is Changing

The National Flood Insurance Program is changing.  Contact your insurance agent to find out if you will be affected by the Biggert-Waters Flood Insurance Reform Act of 2012.  If you are planning to purchase a property or even sell your property it is important to know how your property will be affected by the changes.

Following more than 17 extensions and two expirations since September 2008, the Biggert-Waters Flood Insurance Reform Act of 2012 was passed in June 2012 as part of a transportation funding bill and signed into law by the president on July 6, 2012. As part of the 5-year re-authorization of the NFIP, all properties that were previously paying below full actuarial rates will end their subsidy and begin paying the full rate.

Flood Insurance rates are on the rise, but stability has been put into the program ensuring the availability of coverage for years to come.

Here is the breakdown of the changes to come:

SUBSIDIZED Properties
(Pre-FIRM properties below Base Flood Elevation)
Primary residences: Rates will move to full actuarial rates at the time the property sells (retroactive to all properties sold since July 6, 2012).

Non-primary residences, commercial properties and repetitive loss properties:
Will see their rates move to actuarial rates within a 4-year period with 25% of the increase implemented every year. Click here for FEMA’s 2013 Rate Schedule for second/vacation homes (which includes the first 25% step increase) (Note: Rates are per $100 of coverage).

GRANDFATHERED Properties
(post-FIRM properties that were built at Base Flood Elevation, but BFE has been raised since construction OR the property was mapped into a different flood zone)
Rates will be phased out and be brought to new actuarial rates only after the new flood rate maps are adopted. This is expected to be completed in South Carolina in late 2014 or early 2015.

All Other Properties with Requiring Flood Insurance
All other properties will see rate increases of at least 5%, but could be higher (in the 20% range), but each property is different.

Date of Pre-FIRM
Pre-FIRM in Charleston County means start of construction or substantial improvement was before 1975. For every city and county in South Carolina, go here for the pre-FIRM date.

Information provided by and compiled by the Charleston Trident Association of REALTORS and the National Association of REALTORS.

10 Oatly Circle in Shadowmoss Plantation

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