Have you lost your job?

Is your monthly income less than before?

Are your mortgage payments becoming too much for you?

If you’re behind on your mortgage or fear you may have trouble making payments in the future, let us help. Join us October 24 for a FREE event at the North Charleston Convention Center, as we pull together the region’s experts and HUD counselors who may be able to help you keep your home, and make life affordable once again.

There is HOPE!

How can this event help me? You’ll meet with a certified HUD counselor, who will discuss an array of financial matters with you to try and find the best solution to your situation. Experts in budgeting, credit counseling, foreclosure prevention, legal issues and other related topics will work with you individually to help you to form a plan and remain in your home. Follow up work will be required, so don’t expect a quick fix on the spot.

What do I need to bring?

- Your mortgage statement and any other correspondence from your lender or attorney
- Two (2) pay stubs for everyone in the household along with proof of any other form of income
- Two (2) of your most current bank statements
- Most Recent Tax Return with W-2’s
- Recent Utility Bill

Important Notes:

- Advance registration (http://HopeForHomesCharleston.com) is requested but NOT required. Walk-ins are welcome.
- To ensure we are able to serve all attendees quickly, please leave children and pets at home.
- Parking is free!

If you are unable to attend on this date, or will not be able to attend without children or pets, please download the information from Family Services, here. You may also call 843.735.7862


Host organizations include the City of Charleston, the City of North Charleston, the Homeownership Resource Center, Charleston Trident Urban League, Charleston Area Community Development Corporation and Charleston Trident Association of REALTORS®.

AMERICAN HOMES ARE GETTING SMALLER

October 11, 2009

In a reversal of a decades-long trend, the median size of new houses in the U.S. shrank last year, and the downsizing continues in 2009. New houses under construction through June were nearly 200 square feet smaller than two years ago. Has the McMansion era come to an end?

Jeffrey Mezger, CEO of residential construction giant KB Home, thinks so. “We were in the most overheated housing market the country has ever seen, and I don’t think it will revert back to that anytime soon,” he says. Eric Belsky, executive director of the Joint Center for Housing Studies at Harvard University, says that’s a good thing: Smaller houses suited to first-time buyers could help the struggling construction sector rebound faster. “Demand has shifted from people looking to trade up to larger homes to first-time buyers who are typically younger, with less income, looking for a place that is more modest,” he says. Smaller houses are also attractive to empty-nesters looking for places that are more energy-efficient and less expensive to maintain, according to Stephen Melman, an economist with the National Association of Home Builders. “People want to buy only the home they need right now,” Melman says. “They’re not going for an extra 1000 square feet anymore.” Yet, by any international measure, American homes are still extra-large: Average new-home size peaked here in 2007 at 2521 square feet. At that time, the average house in Germany and France was about 1200 square feet; in England it was 900 square feet.

-J. Scott Orr

CAROLINA COVE

Owen Tyler | Carolina One Real Estate | owen@owentyler.com | 843-224-5398 415 Parkdale Drive, 10 D, Charleston, SC Carolina Cove 2BR/1.5BA Condo offered at $83,000 Year Built 1973 Sq Footage 868 Bedrooms 2 Bathrooms 1 full, 1 partial Floors 2 Parking 2 Uncovered spaces Lot Size Unspecified HOA/Maint $143 per month DESCRIPTION Clean well kept unit in centrally located Carolina Cove, minutes to Historic Charleston, close to I-526. Wood floors down, tiled baths, wall to wall carpet up. Renovated in 2004, appliances convey including stacked washer and dryer. Large enclosed patio with lots of privacy close to Club House. Custom closet shelving in bedrooms. Monthly regime covers water/sewer, ext insurance, pest & termite control, pool, club house, fitness center, and grounds maint. Nothing to do but move right in! If square footage is important - MEASURE!! see additional photos below PROPERTY FEATURES - Central A/C - Central heat - Walk-in closet - Hardwood floor - Tile floor - Family room - Dishwasher - Refrigerator - Stove/Oven - Washer - Dryer - Balcony, Deck, or Patio COMMUNITY FEATURES - Guest parking - Clubhouse - Fitness center - Swimming pool(s) - Playground ADDITIONAL PHOTOS Photo 1 Contact info: Owen Tyler Carolina One Real Estate owen@owentyler.com 843-224-5398 For sale by agent/broker Equal Opportunity Housing Posted: Oct 10, 2009, 8:36am PDT

First-Time Homebuyer Credit Provides Tax Benefits to 1.4 Million Families to Date, More Claims Expected

The IRS has released IR-2009-083 reporting that about 1.4 million taxpayers have filed (or amended) their 2008 income tax returns claiming the $8000 first-time homebuyer tax credit. The IRS release also reminds taxpayers of the importance of getting to closing before the December 1 expiration of the credit and publicizes a YouTube video it has prepared to help taxpayers understand the basics of the credit.



For more information from the IRS please visit this link http://www.irs.gov/newsroom/article/0,,id=213375,00.html

CHARLESTON NAMED #2 "NEXT CITY"

NGC has recently published a ranking of these cities in its 2009 Next Cities™ list, which includes the 80 best cities for young professionals in the United States and Canada. This article discusses the Next Cities™ list and its implications for employers and site selection professionals


Read the full article http://www.areadevelopment.com/siteSelection/august09/next-generation-cities-knowledge-workers.shtml

For more information on Buyer and Selling real estate in the greater Tri-County area please call or e-mail Owen Tyler at 843.224.5398 or Owen@OwenTyler.com.

STATE WIDE HOME SALES DOWN 5.6%

Friday, 25 September 2009
Staff Report

COLUMBIA – The S.C. Association of Realtors is reporting 3,952 homes were sold in South Carolina in August, down about 5.6% from home sales in July.

Home sales for August were down 9.4% compared to sales of August 2008.

Of the 15 regions reporting home sales to the association, only six reported an increase in sales for August.

Of the state’s three major metropolitan areas, Greenville reported a 2.9% increase in home sales, while Charleston reported a decline in sales of 17.3% and Columbia reported a decline of 7.6%, according to the report.

The median price of homes in South Carolina in August was $147,600, up from $142,000 in July. The median price of homes in August 2008 was 154,900.

The average number of days a home was on the market was 155, up slightly from 153 in July.

Statewide home sales year-to-date

Source: S.C. Association of Realtors

AUGUST 2009: RESIDENTIAL MARKET REFLECTS END OF AN ACTIVE SUMMER SEASON

Pending Sales Show Largest Increase Since 2005, Median Prices Up 3% from July

CHARLESTON, SC—(September 11, 2009) Likely a result of the $8,000 homebuyer tax credit, pending sales increased 23.8% over August 2008—the largest increase in the Charleston market since 2005. Preliminary data from the Charleston Trident Association of REALTORS® shows 658 residential properties sold in August at a median price of $187,840. As of the 10th of September 2008, 711 properties had changed hands at a median price of $202,250.

Median prices continue to fluctuate variably, showing a 3% increase from July. The gap in year-over-year differences continues to close—preliminary numbers show a 7% difference in prices from one year ago.

Inventory dropped slightly, with 10,796 homes currently listed for sale with the Charleston Trident Multiple Listing Service.

BERKELEY COUNTY
Berkeley County had 125 closed transactions at a median sale price of $172,248. Accounting for one quarter of the county’s total sales, the most active area in Berkeley County was near Highway 17-A and College Park Road.

CHARLESTON COUNTY

322 homes sold in Charleston County in August, at a median price of $240,000. Once again, the area south of Highway 41 in Mount Pleasant showed the most activity in Charleston County, with 59 total sales.

DORCHESTER COUNTY

Dorchester County showed 166 properties sold at a median price of $169,864. 63 of Dorchester County sales took place in the Summerville/Ladson area.

90-DAY ADJUSTMENT: May 2009

Preliminary data from May 2009 showed 678 sales at a median price of $187,000. Adjusted numbers show 734 sales at a median price of $183,950.

CTMLS is now makes available adjusted sales reports 90 days following preliminary reports. The MLS is a user-driven system, with a number of factors that could delay entry of transactions beyond the preliminary reporting day on the 10th of each month. The adjusted figures reflect all transactions entered into the system up to 100 days after the close of the month.