Charleston School Rankings Released

 

(information below compiled for CCSD & Chris Winston, Editor of the online Patch.com) 

The Charleston County School District saw its federal accountability grade fall 6 points in 2013.

The district scored 83.2 on the 100-point scale, for a B grade, in 2013. In 2012, the Charleston County School District scored 89.2, also a B.

The grade, posted for each school and district statewide and released by the S.C. Department of Education on Thursday morning, is part of the federal No Child Left Behind legislation.

State Education Superintendent Mick Zais was granted a waiver to change from the federal Annual Yearly Progress scorecard (Met/Not Met) to a new scoring system that he believed provided more depth to districts and parents.

According to SCDE spokesman Jay Ragley, every district, school (charter, magnet or traditional) and subgroup (race, gender, etc.) was given the same targets for 2013 in reading/language arts and math. And those goals represented an improvement, or increase, over 2012.

Here are the individual 2013 results for Charleston County schools:
MT PLEASANT ACADEMY A 100.0
SULLIVANS ISLAND ELEMENTARY A 100.0
BUIST ACADEMY A 100.0
CHARLESTON SCHOOL OF THE ARTS A 100.0
ACADEMIC MAGNET HIGH A 100.0
FT JOHNSON MIDDLE A 99.9
STILES POINT ELEMENTARY A 99.8
DRAYTON HALL ELEMENTARY A 99.3
ASHLEY RIVER CREATIVE ARTS A 99.2
JENNIE MOORE ELEMENTARY A 98.8
ST ANDREWS SCHOOL OF MATH & SCIE A 98.7
BELLE HALL ELEMENTARY A 98.6
JANE EDWARDS ELEMENTARY A 98.5
LAING MIDDLE A 98.5
EAST COOPER MONTESSORI CHARTER A 98.5
CHARLESTON CHARTER SCHOOL FOR MA A 98.5
ORANGE GROVE CHARTER A 98.3
HAUT GAP MIDDLE A 97.5
MINNIE HUGHES ELEMENTARY A 95.5
SPRINGFIELD ELEMENTARY A 95.5
MILITARY MAGNET ACADEMY A 95.2
CHARLESTON DEVELOPMENTAL ACADEMY A 95.2
STONO PARK ELEMENTARY A 95.0
LINCOLN HIGH A 93.2
WANDO HIGH A 93.2
MATILDA F DUNSTON ELEMENTARY A 93.0
HARBOR VIEW ELEMENTARY A 92.5
THOMAS C. CARIO MIDDLE A 92.3
MAMIE WHITESIDES ELEMENTARY A 90.8
MURRAY-LASAINE ELEMENTARY A 90.1
CHARLES PINCKNEY ELEMENTARY A 90.0
OAKLAND ELEMENTARY B 89.6
JAMES ISLAND CHARTER HIGH B 89.6
MALCOLM C HURSEY ELEMENTARY B 87.8
MOULTRIE MIDDLE B 87.3
JAMES ISLAND MIDDLE B 87.2
C E WILLIAMS MIDDLE SCHOOL FOR C B 87.1
MORNINGSIDE MIDDLE B 85.3
JAMES B EDWARDS ELEMENTARY B 84.9
JAMES ISLAND ELEMENTARY B 83.4
MITCHELL ELEMENTARY B 82.5
E B ELLINGTON ELEMENTARY B 81.2
PEPPERHILL ELEMENTARY C 77.0
MARY FORD ELEMENTARY C 74.4
CLYDE SANDERS ELEMENTARY C 74.0
HUNLEY PARK ELEMENTARY C 72.2
ST ANDREWS MIDDLE C 71.9
LADSON ELEMENTARY D 69.9
W B GOODWIN ELEMENTARY D 66.5 B
BURKE HIGH D 66.2
CHARLESTON PROGRESSIVE D 63.2
WEST ASHLEY HIGH D 62.2
MT. ZION ELEMENTARY D 62.0
C C BLANEY ELEMENTARY D 61.2
A C CORCORAN ELEMENTARY D 60.4
NORTH CHARLESTON ELEMENTARY F 59.6
JERRY ZUCKER MIDDLE SCHOOL OF SC F 59.6
EDITH L FRIERSON ELEMENTARY F 57.5
NORTHWOODS MIDDLE F 57.1
EDMUND A BURNS ELEMENTARY F 54.9
PINEHURST ELEMENTARY F 54.9
LAMBS ELEMENTARY F 53.7
JAMES SIMONS ELEMENTARY F 52.8
GARRETT ACADEMY OF TECHNOLOGY F 52.5
ST JOHNS HIGH F 50.4
ANGEL OAK ELEMENTARY F 47.8
BAPTIST HILL HIGH F 47.6
APPLE CHARTER SCHOOL F 47.2
MEMMINGER ELEMENTARY F 46.8
NORTH CHARLESTON HIGH F 46.2
WEST ASHLEY MIDDLE F 43.9
R B STALL HIGH F 38.9
CHICORA ELEMENTARY F 34.0
ST JAMES-SANTEE ELEMENTARY F 20.0

Also on Thursday, the state released figures on high school exit exams.

More than 83 percent of the 2,820 Charleston County students who took the exit exam for the first time passed.

Here are Charleston County schools, the number who took the test for the first time and the percent who passed:

Academic Magnet High 160 100.0
Baptist Hill High 59 91.5
Burke High 79 59.5
Charleston Charter School for Math and Science 54 90.7
Charleston School Of The Arts 153 99.3
Garrett Academy of Technology 157 73.2
Gregg Mathis Charter High (Youthbuild) 11 45.5
James Island Charter High 336 85.1
Lincoln High 24 66.7
Military Magnet Academy 57 91.2
North Charleston High 101 57.4
R. B. Stall High 240 58.3
St. Johns High 65 80.0
Wando High 897 94.2
West Ashley High 427 74.0

To read the original article visit http://mountpleasant-sc.patch.com/groups/schools/p/federal-standards-charleston-county-schools-remain-a-b_3ef2712e?ncid=newsltuspatc00000001&evar4=picks-1-post&newsRef=true

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

 

 

 

Cost Vs. Value: Experts Say Curb Appeal Trumps Projects for 2013

Want to know how much a home's value will increase for specific remodeling projects? The Cost vs. Value 2013 report, released by Remodeling magazine in cooperation with Realtor Magazine, shows a nationwide average cost for the job, resale value, and the percentage recouped. The report is based on a survey that culled the opinions of 3,900 brokers, appraisers and agents. If a home needs a new roof, the homeowner can see how much he might earn back (62.9 percent). Or, a homeowner can choose the most cost effective improvements rather than basing remodeling projects on what feels right.

Read the full text of the article at http://www.anypresentations.com/enl/article.php?aid=10956&id=976&sid=6fb1&NID=90

To SUBSCRIBE to my Monthly E-news e-mail your full name and e-mail address to Owen@OwenTyler.com with Newsletter in the Subject Line

Charleston Area Home Sales Up 14% Year-to-Date

 

 

Charleston Area Home Sales Up 14% Year-to-Date

Pricing shows sustainable growth as well; 5.6% increase in regional median price

CHARLESTON, SC—(December 10, 2012) According to preliminary data released today by the Charleston Trident Association of REALTORS® (CTAR), 845 homes sold at a median price of $192,500 in November. Sales volume grew by nearly 200 sales this November, when compared to November 2011.

Year-to-date, 9,662 homes have sold at a median price of $190,081. These figures, which represent all homes sold through the Charleston Trident Multiple Listing Service (CTMLS), show 14% growth in sales volume and a 5.6% increase in median price for the region over last year at this time, when 8,493 homes sold at a median price of $180,000.

Charleston County has led the region in activity, with sales growth of 20.5%, year-to-date. In Charleston County, 5,464 homes have sold at a median price of $225,000 thus far in 2012. “In 2012, Charleston County alone will likely close out the year close to 6,000 sales. When you look at data from 2009 you’ll see that regionally, we sold 8,300 homes that year. It clearly shows how much consumer confidence in our market has improved in the last 36 months” said Owen Tyler, 2013 CTAR president.

“2012 has been the turning point for the Charleston region—sales have grown at a sustainable, healthy pace, inventory has declined significantly throughout the year and we expect this consistent activity to continue into 2013” said Tyler. “This fall has been noticeably busier than years past—the market is seeing a great deal of activity from investors, as well as from traditional buyers who were waiting for security to return to the market” Tyler continued.

While the impact of Washington's decision regarding the Fiscal Cliff remains to be seen, REALTORS® are standing together in defense of the long-standing policy that allows homeowners to deduct mortgage interest payments from their income taxes, which has been threatened by various versions of a potential Fiscal Cliff deal. "We urge our lawmakers to understand that the mortgage interest deduction is vital to the stability of the American housing market and to the stability of the overall economy. REALTORS® will remain vigilant in opposing any future plan that modifies or excludes the deductibility of mortgage interest" said Tyler.

OCTOBER ADJUSTMENTPreliminary data reported for October 2012 indicated that 898 homes sold at a median price of $185,112. Adjusted numbers now show 910 homes sold at the same median price.

BERKELEY COUNTY

193 homes sold at a median price of $179,190 during November in Berkeley County. Year-to-date, sales volume has increased 4%, with 2,098 closings and the county-wide median price has grown a healthy 3%, to $164,300.

CHARLESTON COUNTY

In November, 458 homes sold at a median price of $232,000 in Charleston County. Year-to-date, sales volume has increased 20.5% with a total of 5,464 sales. Median price has increased a healthy and sustainable 2%, to $225,000.

DORCHESTER COUNTY

170 homes sold at a median price of $160,000 in Dorchester County during November. Year-to-date, the county has seen a 7% increase in sales volume and a 4% increase in median price. 1,768 homes have sold at a median price of $167,222 thus far in 2012.

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®.

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

Charleston County Council raises taxes

Thursday, 20 May 2010
By Ashley Fletcher Frampton

CHARLESTON -- Charleston County Council voted Tuesday to raise property taxes and some service fees to balance its 2011 budget.

A majority of council members approved the budget, saying they preferred to raise revenues to keep public services intact instead of implementing layoffs or furloughs to lower costs.

“We can’t balance this budget on the backs of our employees,” Councilman Elliott Summey said.

Cutting employee positions or hours would mean cutting services, Summey said.

County employees haven’t received raises or cost of living adjustments in recent years, he said, and this year they lost about $1,400 in take-home pay because of higher insurance costs. The county also has shed 60 jobs over the past year through attrition, he said.

Council Chairman Teddie Pryor said, “To ask 1,200 people to carry the whole burden of Charleston County is unfair.”

Two more votes and a public hearing are required before the budget is final.

Higher taxes
The increase in property taxes amounts to $25.50 on an owner-occupied home valued at $250,000, county officials said.

Of that increase, $8 comes from an increase in the property tax rate levied for debt repayment. The other $17.50 is the result of the county’s decision to use 90% of revenue from the local-option sales tax to offset the property tax burden, instead of the usual 100%.

The budget calls for keeping 10% of that sales tax revenue, or $3.8 million, to cover general fund expenses.

Some council members described the move as a temporary way to plug the budget. When times aren’t as tough, the county could return to a 100% credit, Councilman Vic Rawl said.

The overall 2011 budget, including operating, debt repayment and other funds, totals $351.3 million. Spending is down $18 million from the 2010 budget.

Council members voted 4-3 in favor of the budget. Council members Joe McKeown, Dickie Schweers and Colleen Condon voted against it.

“There is no way I can support a tax increase in this economy,” Schweers said before Tuesday’s vote. “It troubles me.”

McKeown asked that the county take money out of its reserve fund instead of raising taxes.

County staff and some council members have said doing so could jeopardize the county’s bond ratings, raising the cost of future borrowings.

Behind the increase
Total county revenues have declined nearly $12 million since 2009, according to County Administrator Allen O’Neal.

Charleston County is losing about $2 million more in state funding in 2011, said budget director Mack Gile, and the county’s property tax revenue is expected to be down about $2 million.

The recession has eroded the property tax base in several ways, Gile said. This year, the county has seen about 10 times the appeals on property assessments as in the past.

Tax revenue from motor vehicles is down as well, because people aren’t upgrading and replacing vehicles at the rate seen in past years, and vehicles depreciate annually, Gile said.

Last year, the county used about $500,000 in parking garage revenues to help cover debt service. That extra revenue wasn’t available this year, Gile said, likely a result of fewer people using the garages.

Meanwhile, the county must pay an additional $2.8 million in order to staff and operate its new detention center for a full year. The facility opened earlier this spring.

The 2011 budget does not include $18 million that County Council has promised to Trident Technical College for a new nursing education building. That debt, contingent on promises from Berkeley and Dorchester counties, will be issued in 2012, officials said.

Higher fees
Council members also gave a first approval to a measure that increases fees for some services.

Fees will go up for some planning, zoning and development permits, for example, and for Sheriff’s Office records checks and animal shelter services.

Council members who supported the fee increases said they shift more of the cost of those public services to the people who use them, rather than spreading them among all taxpayers.

Charleston County backs rental fee for incentives

Thursday, 06 May 2010
By Ashley Fletcher Frampton

CHARLESTON -- Charleston County Council voted 8-1 Tuesday in favor of a new 5% tax on rental car receipts in the county. The tax would create a fund for expansion of air service, including the luring of low-cost air carriers to Charleston International Airport.

Tuesday’s vote was the first of three required for the tax to become law. The council also will hold a public hearing on the measure at 6:30 p.m. on May 20.

Area business and tourism groups are backing the 5% rental car tax, citing the region’s lack of competitiveness since low-cost carrier AirTran Airways pulled out of Charleston in December.

Several officials with those groups, which include the Charleston Area Convention and Visitors Bureau, the Charleston Metro Chamber of Commerce, the Charleston County Aviation Authority and the Charleston Regional Development Alliance, attended Tuesday’s meeting wearing red stickers that said “Let’s Fly.”

None of those officials spoke at the meeting.

But five local representatives of rental car companies spoke during the public comment period, telling council members they should oppose the tax because it would affect residents more than tourists.

Echoing a statistic that most rental car representatives quoted, Kristen Olson, group rental manager for Enterprise Holdings, said that, among the company’s dozen or so locations in the Charleston area, 80% of rentals are to people whose cars are being repaired.

Often those rentals are at the expense of insurance companies.

Councilman Elliott Summey largely dismissed the comment, noting that people pay insurance premiums to cover rental cars when needed.

Council Chairman Teddie Pryor asked Olson why, if the new tax would be such a problem to residents, none showed up to protest.

“I don’t see one person who’s a taxpaying citizen against this” except for rental car companies, Pryor said.

The 5% fee on gross receipts of passenger vehicles rented in Charleston County would generate about $1.5 million annually, according to Helen Hill, executive director of the Charleston Area Convention and Visitors Bureau.

Hill has said low-cost carriers nowadays are looking for financial support from a community before committing to serve an airport.

She has said the $1.5 million would not be an ongoing subsidy but rather would be used to offset an airline’s startup costs.

In a letter Hill sent to council members last week, she wrote that one carrier “has told us that as soon as an incentive package is available, it will move forward on offering service to Charleston.”

Local officials have not identified that airline. But state lawmakers, who are considering a larger incentive fund for air service, have said that Southwest Airlines is interested in starting service at the Charleston and Greenville-Spartanburg airports.

The legislation under consideration at the Statehouse would make up to $15 million available for airlines. Midlands lawmakers have blocked that bill because they feel Columbia Metropolitan Airport will suffer if Southwest starts service from Charleston and Greenville-Spartanburg.

This week lawmakers said a compromise deal is in the works.

“I hope we’ll be able to hear a great announcement very soon,” Councilwoman Colleen Condon said Tuesday after the council’s vote.

Last week, Summey said the local incentive fund on its own, without state dollars, would not be enough to lure the airline considering Charleston.

Councilman Dickie Schweers was the only council member to vote against the 5% tax Tuesday.

“I just really struggle with a 30%-plus tax on anything,” Schweers said.

Schweers was referring to an estimate of the total percentage of taxes and fees charged on cars rented from the airport.

Because some charges are taxes and some are flat fees, the actual total percentage depends on the cost of vehicle rented.

An online quote for a midsized sedan rented at Charleston International Airport shows a base price of $46.98. After taxes and fees, the total is $61.64. In that scenario, taxes and fees total about 30% of the cost.

That does not factor in the proposed 5% tax for airline incentives. It includes a 10%concession recovery fee, a $3.50-per-day customer facility charge, sales tax and a rental car tax.

The same size sedan, rented from the same company at a non-airport location in Charleston, has a base cost of $30.99, and $34.86 after adding existing taxes and fees. In that scenario, tax and fees add up to 11%.

The airport’s concession recovery fee and customer facility charge do not apply.

Councilman Henry Darby called the tax measure “corporate welfare” for companies that make billions of dollars. But he voted for it.

RESIDENTIAL REAL ESTATE SALES UP 22%, HOME PRICES CONTINUE STEADY GROWTH AT THE START OF SPRING SEASON

CHARLESTON, SC—(March 10, 2010) Preliminary data from the Charleston Trident Association of REALTORS® shows 691 homes sold at a median price of $185,000 in March. This represents a 22% increase in sales and maintenance of the median price from March 2009, when 568 homes sold at a median price of $185,000.

Year-to-date, 23% more homes have sold at prices 3% higher than this time last year. Thus far in 2010, 1,670 homes have sold at an average median price of $185,501. At this time last year, 1,357 homes had sold at an average median price of $180,473.


This suggests a strong beginning to the typically busy spring and summer seasons, which got off to a slow start in 2009. “The activity in the early months of 2010 is incredibly encouraging—every month, we’re seeing sustainable growth in home sales and prices are holding steady” said Jeremy Willits, 2010 CTAR President. “We didn’t have sales numbers in this range until May or June in 2009” said Willits.


Though no one is sure what the months following the expiration of the tax credit will look like, Willits concurs that the homebuyer tax credit appears to have done what it was supposed to do. “The tax credit was not intended to be a long-term initiative. It incentivized the purchase of a home, following a year of uncertainty and volatile market activity. It was designed to help stabilize the market and that’s exactly what we’ve seen it do in Charleston” said Willits.

Rising mortgage rates and the uptick in buyer activity could encourage potential buyers looking to make an investment in real estate before they are priced out of the market. Following last week’s rise in mortgage rates, from 5.03% to more than 5.20% last Wednesday, some potential buyers realize that low rates and market affordability won’t last forever. For every 1 percentage point rise in rates, 300,000 to 400,000 would-be buyers are priced out of the market in a given year, according to the National Association of REALTORS®.


There were 9,849 active listings on the market as of March 31, 2010. March represents the third consecutive month with less than 10,000 properties on the market.

FEBRUARY 2010 ADJUSTMENT
Preliminary numbers reported for February 2010 indicated 509 properties had sold at a median price of $179,900. Adjusted numbers now show that 541 properties sold at a median price of $179,755.

BERKELEY COUNTY
In March, 145 homes sold at a median price of $163,343 in Berkeley County reflecting a 6% increase in sales volume and a 1% change in median prices when compared to last March, when 137 homes sold at a median price of $165,000.


CHARLESTON COUNTY
378 residential properties changed hands in March in Charleston County, increasing by 31% when compared to March 2009’s 288 sales. Median prices have risen 9% since last year, settling at $246,000 this month.

DORCHESTER COUNTY
142 homes sold in Dorchester County in March at a median price of $148,400. Sales activity has increased by 27% when compared to March of last year, when 112 homes sold. Median prices have dipped 8% to $148,400 as compared to March 2009, when the median home price was $161,000.

Please note: “Preliminary number” indicates all sales and values for closings posted within 10 days following the close of the month. “Adjusted number” indicates the value after all sales have been posted.

# # #

With approximately 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

Residential Real Estate Sales Increase Again, Median Prices Remain Stable

CHARLESTON, SC—(March 10, 2010) Preliminary data from the Charleston Trident Association of REALTORS® (CTAR) shows 509 homes sold in the Charleston region in February, at a median price of $179,900. This reflects a 22% increase in sales and essentially no change in median sale price from preliminary numbers reported on March 10, 2009, which showed 417 sales at a median sale price of $179,450.

As of March 10, 2009, CTAR data showed 789 sales at an average median sale price of $178,100. This year, CTAR has recorded 940 sales at an average median sale price of $185,500. Year-to-date numbers show a 7% increase in sales and median sale prices are a slight 4% higher than this time last year.

At the close of the month, there were 9,532 homes actively listed for sale with the Charleston Trident Multiple Listing Service, a 4% increase from last month, when there were 9,171 homes on the market.

January 2010 Adjustment
Preliminary numbers reported on February 10 indicated that in January 2010, 416 properties had sold at a median price of $194,000. Adjusted numbers show that 429 properties sold at a median price of $191,100. This equates to a negligible (-0.9%) decrease in sales and a 9% increase in median prices when compared to January 2009, which showed 433 sales at a median price of $175,000.


BERKELEY COUNTY
Berkeley County saw a 16% increase in sales and a 3% variance in median price over February of last year. February’s preliminary numbers show 108 properties sold at a median price of $157,495. On March 10, 2009, preliminary numbers reflected 93 sales at a median price of $162,400.

In Berkeley County, the areas of Goose Creek and Moncks Corner showed the most activity, and Crowfield Plantation was the most active neighborhood.

CHARLESTON COUNTY
Charleston County continues to lead the regional market recovery with 60% more closed sales and a 5% increase in median price when compared to last year. In February, 288 homes sold at a median price of $235,950 in the county compared to February 2009 preliminary figures which showed 180 homes sold at a median price of $225,000.

In Charleston County, the area south of Highway 41 had the most activity in February, with the Rivertowne neighborhood showing the highest sales for that area.

DORCHESTER COUNTY
In February, 91 residential properties changed hands at a median price of $145,000 in Dorchester County. When compared to February 2009 preliminary figures, this data shows a 5% increase in sales and a 15% decline in median price. Last year, 87 homes sold at a median price of $169,990.

The Summerville/Ridgeville area showed the most activity in Dorchester County, and the Legend Oaks subdivision had the most sales within that area.

Please note: “Preliminary number” indicates all sales and values for closings posted within 10 days following the close of the month. “Adjusted number” indicates the value after all sales have been posted.

# # #
With approximately 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®.

SC Safe Home program issues more than 1,000 grants in coastal counties

Staff Report
Published Feb. 22, 2010

The S.C. Department of Insurance's SC Safe Home program has awarded 1,018 grants to S.C. homeowners, according to Scott Richardson, the department’s director.

"In the little more than two years since it began, the SC Safe Home program has helped more than 1,000 homeowners with mitigation projects aimed at strengthening their homes against the destructive winds of a hurricane," Richardson said.

SC Safe Home offers coastal homeowners grant funds to assist in the strengthening and fortification of their homes.

Grants of up to $5,000 are available for owner-occupied homes. They may be awarded on a matching or nonmatching basis. To date, SC Safe Home has awarded grants totaling about $4.57 million to homeowners in Beaufort, Berkeley, Colleton, Charleston, Dorchester, Florence, Georgetown, Horry, Jasper, Marion and Williamsburg counties.

According to the Federal Emergency Management Agency, every $1 spent on mitigation saves $4 in possible losses and the resulting reconstruction costs.

“Structures retrofitted through SC Safe Home are more attractive risks to insurance companies,” Richardson said. “Homeowners that completed mitigation projects have reported premium reduction savings of up to 24% on their property insurance.”

Of all the grant recipients, 76% chose to retrofit their roof systems. Homeowners who replaced their windows with impact-resistant systems and hurricane shutters report an average savings of 29% in their energy costs.

For more information, call 803-737-6207.

Charleston Area Residential Real Estate Market Continues to Show Improvement

CHARLESTON, SC—(February 10, 2010) Preliminary data from the Charleston Trident Association of REALTORS® (CTAR) shows 416 homes sold in the Charleston region in January, at a median price of $193,500.

Long-Term Review: January Sales
“2010 looks to be off to a great start. It’s clear that in terms of median home prices, we’re heading in the right direction. While we don’t expect median prices will make huge gains this year, they should remain relatively stable as we work our way through an inventory that is still larger than usual” said Jeremy Willits, 2010 President of the Association.

At the close of the month, there were 9,171 homes actively listed for sale with the Charleston Trident Multiple Listing Service, a 13% decrease from January of 2009, when there were 10,636 homes on the market.

Long-Term Review: January Median Sale Price
BERKELEY COUNTY
Preliminary numbers for January 2010 in Berkeley County show 82 sales at a median price of $161,000. Final numbers for January 2009 recorded 117 properties changing hands at a median price of $161,996.

CHARLESTON COUNTY
Charleston County led the region with the largest sales and price increases. Preliminary data for January 2010 shows 231 closed sales at a median price of $245,000. Final numbers for January 2009 show 210 properties sold at a median price of $234,950.

DORCHESTER COUNTY
Preliminary data shows 81 properties sold at a median price of $150,000 in January 2010 in Dorchester County. In January 2009, final numbers show 91 homes sold at a median price of $160,000.

# # #


With approximately 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®.

Charleston-Area Residential Real Estate Sales Soar in November

Charleston County Home Sales Double Over 2008 Levels, Leads Regional Recovery

CHARLESTON, SC—(December 10, 2009) The Charleston-area residential real estate market continues to show signs of a strong recovery. Led by incredibly strong sales in Charleston County, preliminary data from the Charleston Trident Association of REALTORS® showed 783 closed transactions in November, with a median sale price of $173,000.

As of December 10, 2008, 435 properties had been sold at a median price of $185,503. This month’s numbers reflect an unprecedented 80% increase in home sales and the third consecutive month of increases.

This type of activity is uncharacteristic for November, and likely attributable to the passing of the original homebuyer tax credit deadline, which was November 30. The tax credit deadline has been extended to April 30, 2010 and expanded to include provisions for existing homeowners. More information on the new tax credit is available here.

Inventory sits at this year’s lowest level, with 9,429 properties listed as “active” with the Charleston Trident Multiple Listing Service, as of November 30, 2009.

BERKELEY COUNTY

Home sales in Berkeley County were up 65% in November, with 196 sales at a median price of $154,700, compared to November 2008’s 119 sales at $170,000.

CHARLESTON COUNTY

Charleston County showed the greatest gains in the region during the month. Sales doubled over last year, and median prices are within 1%of 2008 levels. 361 properties changed hands in November at a median price of $225,000, in stark contrast to 2008’s 170 sales at a median price of $227,738.

DORCHESTER COUNTY

Sales continued to be strong in Dorchester County, up 42% year-over-year. 199 properties sold at a median price of $150,000 this month, compared to 140 properties at a median price of $169,995 in 2008.


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With approximately 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

WELCOME TO BOOMTOWN

Citing Boeing and tourism, economist sees strong area rebound

By Yvonne Wenger
The Post and Courier

Thursday, December 3, 2009

COLUMBIA -- Boeing and tourists are expected to lift the Charleston economy out of the nationwide recession next year and perhaps skyrocket the Lowcountry into the top 10 growing economies in the United States, a University of South Carolina economist said Wednesday.


The outlook for the rest of South Carolina is not so bright, although small gains also signal a statewide end to the two-year recession, Doug Woodward said at the Darla Moore School of Business' 29th annual Economic Outlook Conference.

"There is a recovery unfolding," Woodward said. "The recession is over."

Personal income will grow by 3.3 percent and the job base will see a 0.2 percent uptick, but neither is expected to be enough to draw down the record-high unemployment rate, Woodward said.

The recovery is fragile, he said; any shock to the financial market could send the state back into an economic downturn.

Boeing changes it all

Boeing's decision to locate its second Dreamliner jet production line in North Charleston will pay dividends in the state for years to come, Woodward said.

Boeing is expected to create at least 3,800 jobs and invest more than $750 million in seven years. The expected investment is the largest made anywhere in the country in 2009, Woodward said.

"We are very fortunate to have a major capital investment in South Carolina," he said. "That will have a big impact in the Charleston area and, I think, over time, will spread its influence throughout the South Carolina economy."

Boeing's direct influence in the Lowcountry will signal to the rest of the country that the area is one of the best places for business going forward for the next couple of years, Woodward said.

Besides being a confidence booster, Boeing's influence will start as a big construction project, and in the next couple of years produce a cluster of activities in the Lowcountry, he said.

The jobless rate will stay relatively low in the Charleston area compared to the rest of the state because of the Boeing impact, he said.

Statewide unemployment will average 11.2 percent in the next year before it is expected to leave the double-digits, Woodward said. It will, however, take years to get back to pre-recession unemployment, which was half that rate, he said.

The statewide rate for October is 12.1 percent and 9.7 percent in Charleston.

The Charleston area economy also is tied closely to tourism, and Woodward said tourism should pick up. Leisure and hospitality dropped by 3.8 percent from 2008 to 2009.

"People are going to take vacations," Woodward said. "There will be more foreign tourists, especially the Canadians, with the dollar depreciating. The weaker dollar means that foreign tourists have more money to spend here. They will look at the U.S. as an attractive destination."

Personal income growth, which includes rental income, dividends, interest and profits, had a 1.4 percent decline in 2009.

Even though the projected increase in income growth is small -- an estimated 1.3 percent after inflation is factored in -- the growth will have a cascading effect throughout the economy reaching down to retail sales and other areas, Woodward said.

Consumers are needed

He credited federal stimulus efforts with helping to strengthen the economy.

The $787 billion American Recovery and Reinvestment Act infused some cash, the first-time homebuyer tax credits helped kick-start the housing market, and work by the U.S. Treasury and Federal Reserve opened up financial markets for lending, all of which have influenced the expected recovery in South Carolina.

Continued growth will depend on moderate energy and fuel costs, a housing rebound and a steady stock market, Woodward said. Consumers are another piece of the puzzle.

"Consumers, who have been sharply cutting spending, will have to get back in the market to have a vigorous recovery. It will be important to see how retail sales perform this Christmas," he said.

Woodward put together the economic outlook with fellow USC economist Paulo Guimaraes, but university President Harris Pastides acknowledged the limitations of a forecast.

"Let's look into the crystal ball," he said as the conference began.

Reach Yvonne Wenger at 803-926-7855 or ywenger@postandcourier.com.
File photos by Brad Nettles(top)and Leroy Burnell - Staff

http://www.postandcourier.com/news/2009/dec/03/welcome-to-boomtown/

Residential Real Estate Sales Up 31% from October 2008

CHARLESTON, SC—(November 10, 2009) Preliminary data from the Charleston Trident Association of REALTORS® showed a 31% increase in closed sales year-over-year. 721 homes sold this October, as compared to 549 homes in October 2008.

The increase in sales is largely attributed to a more affordable market, as buyers take advantage of the robust inventory of fairly priced homes. In line with the national trend of an 11% decrease in median price, the Charleston area saw median home prices settle to just under $170,000 in October, a 13% variation in price from 2008.

Inventory dropped slightly again, with 10,631 homes currently listed for sale with the Charleston Trident Multiple Listing Service.

BERKELEY COUNTY
Berkeley County sales were up 25% from October of last year; 186 homes sold at a median price of $155,000. In October of 2008, 149 homes sold at a median price of $169,900.

CHARLESTON COUNTY
In the last 30 days, 339 homes sold at a median price of $205,000 in Charleston County. That reflects a 9% increase in sales, from last year’s 312 closings during the month of October.

DORCHESTER COUNTY
Sales in Dorchester County increased by 53% year-over-year; 177 homes sold at a median price of $152,700 compared to 116 sales at $167,663 in October 2008.

2ND CONSECUTIVE MOTH OF GROWTH IN RESIDENTAL REAL ESATE SALES

CHARLESTON, SC—(July 10, 2009) For the second month in a row, the Charleston-area residential real estate market showed an increase in sales and median prices. Data from the Charleston Trident Association of REALTORS® shows 732 transactions closed in June, with a median sale price of $192,626.

“Sales typically peak during the summer months, so an increase isn’t unusual, but sales are certainly being supported by sellers pricing their homes to align with market expectations, as well as an influx of homebuyers utilizing the $8,000 tax credit. The modest increases in median price are an excellent indicator of a recovering market—prices are not escalating rapidly, but increasing steadily. This type of activity is what will help the market stabilize” said Gettys Glaze, President of the Charleston Trident Multiple Listing Service.

Inventory remains steady with 11,173 homes currently listed for sale with the Charleston Trident Multiple Listing Service.

SIX-MONTH MARKET RECAP

2009 TOTAL SALES % +/- MEDIAN SALE PRICE % +/-
June 732 8% $192,626 3%
May 678 31% $187,000 3%
April 518 -9% $181,303 -2%
March 568 56% $185,000 1%
February 363 -2% $183,180 4%
January 372 - $176,750 -

COLLEGE OF CHARLESTON HOME VALUE INDEXSM
The College of Charleston Monthly Home Value IndexSM indicates that the value of a typical home in the Charleston Tri-County Area increased by 2.51% in June, 2009. In comparison, the change in the index value was +8.61 in May, 2009, and -5.17% in April, 2009. The index tracks the value of a “typical” home in each defined geographic area (tri-county and smaller areas) over time. The index should not be interpreted relative to the value of all homes, but to the value of a “typical” home with the contributions to value from that home’s features evaluated at the average estimated prices of those individual features. To view details of the College of Charleston’s Home Value IndexSM, please click here.

BERKELEY COUNTY
Following several months of quiet stability, June sales and median prices in Berkeley County jumped to year-to-date highs of 160 homes sold at a median price of $172,361. The areas surrounding Highway 52 and Highway 17-A supported nearly half of the county’s total sales. The Cane Bay subdivision had the highest number of closed transactions in the county.

CHARLESTON COUNTY
Sales in the Charleston County market remained relatively stable through June, with 364 homes sold at a median price of $254,500. June was the third time this year that more than 300 transactions have closed during a one-month period in Charleston County. Once again, the area of Mount Pleasant South of Highway 41 had the most activity, with 77 homes sold.

DORCHESTER COUNTY
The number of homes sold increased again in Dorchester County during the month of June, reaching a year-to-date high of 188 closed sales. The median price remained stable at $162,250. The majority of market activity took place in Summerville and Ladson. The Farm at Wescott Plantation showed the most activity among subdivisions.

RESIDENTIAL REAL ESTATE MARKET CONTINUES TO STABALIZE

If you have questions about the value of your property or are considering making a move to or from the greater Charleston, South Carolina area please feel free to call Owen at 843.224.5398 or e-mail him directly at Owen@OwenTyler.com

FANNIE MAE FREEZES FORECLOSURES

Thursday, 07 May 2009

By Ashley Fletcher Frampton
aframpton@scbiznews.com

Mortgage-backer Fannie Mae said it singled out South Carolina for an unusual court-ordered freeze on home foreclosure sales because the state gives local judges the authority to dismiss delayed cases, which other states do not.

Fannie Mae isn’t seeking a similar temporary freeze in other states, said Brian Faith, spokesman for the mortgage company.

“In South Carolina, judges have the discretion to cancel an ongoing foreclosure process if there is a significant delay between the foreclosure judgment date and the actual foreclosure sale,” Faith said in a statement.

If masters-in-equity — the special county judges that usually handle foreclosures in South Carolina — were to dismiss delayed cases, “the process begins anew, which leads to higher costs and losses,” Faith said.

“The court ruling effectively addresses this situation,” he said.

Fannie Mae suspended its foreclosure proceedings in late 2008 and during the first of quarter of 2009 while it reviewed cases for potential workout strategies, Faith said. In some cases, that created significant delays.

At Fannie Mae’s request, the S.C. Supreme Court issued a temporary restraining order late Monday afternoon on foreclosure sales for some homes. It targets properties that could be eligible for a mortgage modification program that President Barack Obama’s administration is rolling out. The program offers more affordable mortgage payments to homeowners whose loans are backed by Fannie Mae or Freddie Mac and who meet certain other criteria.

Fannie Mae did not want homeowners potentially eligible for the program to lose their homes in foreclosure before they had a chance to participate. The mortgage company estimates that more than 1,000 homes in South Carolina were headed to foreclosure sales this week. It filed the petition for a temporary restraining order on Friday.

Obama announced the Home Affordable Modification Program in February, but details were not outlined until April 6.

Masters-in-equity say they are still sorting through the implications of the S.C. Supreme Court order, which requires lenders seeking foreclosure to submit affidavits by May 15 stating whether loans in default are eligible for the modification program.

Homes not eligible will continue in the foreclosure process, according to the restraining order.

Published May 7, 2009

If you have questions regarding the real estate market in the greater Charleston, South Carolina area please do not hesitate to call or e-mail Owen at 843.224.5398 or Owen@OwenTyler.com

SO YOUR PRE-APPROVED, WHAT DOES THAT MEAN

Everyone knows that getting a loan today is dramatically different than it was 12 months ago.

Today all prudent Buyers should be pre-approved by a reputable mortgage professional before stepping foot in any house. Of course that pre-approval is no guarantee that you will be given a loan to purchase your new home.

As a matter of fact banks are now waiting until the 11th hour to tell Buyers they don't qualify leaving them with out of pocket appraisal fees, application fees, attorney fees and homeless.

If you are a Buyer here are some handy tips when you decided to purchase a home:

1. If you are working with a REALTOR ask that professional who they would recommend, I can assure you no REALTOR in their right mind is going to spend time showing someone property that has an "iffy" pre-approval letter.

2. When you meet with the mortgage professional be completely honest, don't try to paint a better picture than reality. If you only have $500 in cash or have only been at your job for 1 year and 8 months, be honest.

3. Take a look at your credit report with the mortgage professional, most are prohibited from giving you the report, but you should know what it says.

4. Before you arrive at your appointment have two years W-2s, a fairly accurate estimate of cash on had and investments, and your most recent paycheck stub.

5. Understand that the interest rate you are quoted is a function of your credit score, income and expense, amount of down payment, and even work history. You are completely and totally responsible for your credit score. And if something on the report is incorrect it is your responsibility to correct it.

6. Get your pre-approval letter in WRITING, with a list of any remaining items needed to get your loan approved.

7. And don't be afraid to shop around not all banks and lenders are the same, all have different minimum credit scores and requirements for many of the same types of loan programs.

8. Once you have found a mortgage professional with a loan program you are happy with get a Good Faith Estimate in WRITING so that you know how much money you are expected to have at closing and what the fees will be for your loan.

9. And finally keep in touch with your mortgage professional on a weekly basis. Check-in to see the status of your loan, ask if additional information is needed, and when the mortgage professional asks for documentation get it over ASAP, that is key. And if things are starting to head south, let your REALTOR know immediately, he or she can step in and help you out.

If you are considering a purchase or just have questions about the market or mortgage process please give Owen a call at 843-224-5398. Owen is a preferred REALTOR with several reputable mortgage companies that offer discounts to his clients on purchases and refinances.

Charleston REALTORS® Launch Smart Growth Site

The Charleston Trident Association of REALTORS® has launched a new Web site designed to engage Lowcountry residents in discussions related to smart growth and community development.

PreserveOurLowcountry.com will engage the public to get involved in the decision-making process related to how the Lowcountry can grow, maintain and preserve its sense of identity while still being an attractive place for newcomers.

http://www.preserveourlowcountry.com/

If you have any questions or would like to discuss the possibility of having me represent you on the sale of your home or the purchase of a home, you can contact me directly at 843-224-5398 Owen Tyler Realtor® Carolina One Real Estate.