Economists give rosy outlook for Lowcountry home sales

The Charleston region’s housing market will continue an upward trend of sales and values this year as long as local job growth continues.

To see the full article please visit The Post & Courier

Charleston Real Estate Market Shows Strength and Stability in 2011

Charleston Real Estate Market Shows Strength and Stability in 2011Sales Volume Up, Stability in Median Price, Inventory moves to new 5-year Low

CHARLESTON, SC—(December 12, 2011) According to preliminary figures released by The Charleston Trident Association of REALTORS® (CTAR) 648 homes sold at a median price of $191,500 in November, while inventory declined again to reach a new low of 7,258 homes listed as actively for sale. Last November, 588 homes sold at a median price of $189,700 as inventory stood nearly 20% higher than the current level. “The continued decline of inventory is an important factor in maintaining the stability and health of our local market, as we anticipate the addition of bank-owned inventory in the early stages of 2012” said Rob Woodul, 2011 President of CTAR.

Compared to last November, sales volume is up by 10% and the median home price is a slight 1% higher.

“2011 has been a pivotal year for the Charleston real estate market. Without the support of a tax credit or other incentives, our market had to stand on its own and it did so considerably well. We’ve had 11 months of relatively stable activity and are beginning to close the gap on prices—which will likely be affected by additional foreclosed inventory next year. However, continued job growth and economic development in our region should help soften the potential negative effects of that bank-owned inventory” said Woodul. “This year, local REALTORS® have helped nearly 8,500 individuals or families make an investment in the Charleston area. Whether the market is up or down, helping people and families find a place to call home only adds to our region’s stability and strengthens our sense of community” said Woodul.

Year-to-date, 8,453 homes have sold at a median price of $180,796, which indicates nearly 5% sales growth and a 3% decline in prices compared to this point in 2010, when just over 8,000 homes had sold at a median price of $187,00.

October Adjustment

Preliminary numbers reported for October 2011 indicated 670 homes sold at a median price of $190,000. Adjusted numbers now show 677 sales at the same median price.

BERKELEY COUNTY
168 homes sold at a median price of $175,312 in Berkeley County in November—a considerable improvement from last November, when 138 sales resulted in a median price of $169,187.

The most active area of the county was Goose Creek/Monck’s Corner from Highway 52 to the Cooper River, where 45 homes changed hands at a median price of $164,590. The most expensive homes in the County can be found on Daniel Island, where the median home price last month was $387,000. The most affordable homes in Berkeley County are in the area of St. Stephen/Bonneau, where the median home price was $57,900.

CHARLESTON COUNTY
335 homes sold at a median price of $225,848 in November in Charleston County; compared to 318 sales at a median price of $236,175 last November.

Outside of the county’s largest geographic area of Mount Pleasant, where 94 homes sold at a median price of $318,125, the most active area of the county was again, in West Ashley (outside I-526) where 51 homes sold at a significantly increased median price of $198,250. The most expensive homes in the County sold in the resort community of Wild Dunes, where 9 sales resulted in a median price of $827,900. The most affordable homes sold in North Charleston (inside I-526) where 16 homes changed hands at a median price of $55,000.

DORCHESTER COUNTY

125 homes sold at a median price of $176,000 during November in Dorchester County, which shows a healthy increase in sales volume and notable increase in price, compared to last November’s 112 sales at a median price of $152,136. The most active area was Summerville/Ridgeville, where 68 homes sold at a median price of $186,400; also making it the most expensive area in November. The most affordable homes sold in the St. George/Harleyville area, where 4 homes sold at a median price of $112,500.

How did the South Carolina Real Estate Market Perform for 2010

The numbers are in ... See how South Carolina weathered the storm during 2010

Is sexual orientation discrimination in housing legal? Maybe.

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

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

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

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

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

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

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

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

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

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Property Tax Reform in South Carolina

What do tax payers in South Carolina think of the current property tax legislation?

According to a recent survey the Chief Executive Officer of South Carolina REALTORS, Nick E. Kremydas tell us:

60% - We need tax reform

55% - Commercial and residential property owners both need tax relief

77% - Similar property owners should pay same tax

60% - Assess all property taxes at the same time




Contact your state representative and state senator and ask them to vote for property tax reform.

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.