The real estate market has seen better days! Over the past 12 months the Charleston, SC real estate market is no exception to this trend.
Over the weekend the Post and Courier had a great article on how sellers should view their efferts in selling their own personal residents.
If you would like to view these please click on the link below.
http://www.marketwatch.com/news/story/six-popular-incentives-might-catch/story.aspx?guid=%7BEB803ECC%2D4C2E%2D405D%2DA7FD%2D1D679DCFD3D1%7D
Wednesday, July 18, 2007
Wednesday, June 27, 2007
Charleston 4th of July Events
Well the summer season has officially begun in the Charleston area. As the temperature rises, so does the local Charleston summer events. There are a number of events planned around the Charleston, Summerville and Mount Pleasant area for the 4th of July.
Please take a look at the link below and see what the lowcountry has to offer:
http://www.charlestonlowcountry.com/specialpages/Charleston4th.html
Please take a look at the link below and see what the lowcountry has to offer:
http://www.charlestonlowcountry.com/specialpages/Charleston4th.html
Thursday, June 14, 2007
Professional AVP Volleyball Comes to Charleston
The inaugural Daniel Island AVP volleyball tournament is coming to Daniel Island the weekend of June 14th - June 17th. This The Charleston Open is bound to bring in a large local and regional crowd. The worlds #1 woman's volleyball team of Misty May-Treanor and Kerri Walsh will sure to be fan favorites.
Charleston is fast becoming a great location for regional and national sporting events. The month of May brought the Senior PGA Championship to Kiawah Island and Rivertowne Country Club played host LPGA Ginn Open.
To find out more about the Daniel Island event please to click the following link:
http://web.avp.com/news/article.jsp?ymd=20070613&contentid=28582
Charleston is fast becoming a great location for regional and national sporting events. The month of May brought the Senior PGA Championship to Kiawah Island and Rivertowne Country Club played host LPGA Ginn Open.
To find out more about the Daniel Island event please to click the following link:
http://web.avp.com/news/article.jsp?ymd=20070613&contentid=28582
Tuesday, June 5, 2007
HURRICANE SEASON IS HERE......
The Atlantic Hurricane Season is now upon our doorstep. The most dreaded time of year for people living on the East Coast of the United States. The hurricane season begins on June 1 and continues through the fall until November 30Th.
This years predictions are expected to be very active. The National Hurricane Center, estimates that there will be 14 named storms, 7 hurricanes, 3 of Category 3 or higher. We experienced the first named storm of the year last weekend, BARRY!
We all need to be prepared for the worst. With this being said it is a great time of year to get your Hurricane Kit together. Please see the below link. It will help get you moving in the right direction!
http://www.southcom.mil/hurricaneprep/hurricane_survival_kit.htm
This years predictions are expected to be very active. The National Hurricane Center, estimates that there will be 14 named storms, 7 hurricanes, 3 of Category 3 or higher. We experienced the first named storm of the year last weekend, BARRY!
We all need to be prepared for the worst. With this being said it is a great time of year to get your Hurricane Kit together. Please see the below link. It will help get you moving in the right direction!
http://www.southcom.mil/hurricaneprep/hurricane_survival_kit.htm
Monday, June 4, 2007
GREAT RESOURCE FOR CHARLESTON AREA SERVICES
Recently a new website has surfaced in the Charleston area. This website has been put together to help people find local serviced based businesses. It allows for individuals to post their experiences with these companies. In a sense giving each area business a score card. This is perfect for people that are new to the area and that are relocating to the Charleston, Dorchester and Berkeley County area. As we all know it is hard to find local services when you are new to an area. The Yellow Pages only goes so far!
There is so much activity in the Charleston area it is nice to have a FREE RESOURCE of information.
If you are a local business it is FREE to add your companies profile as well. Thus giving your company more exposure locally and nationally!
To visit this website go to: www.PalmettoBizBuzz.com.
There is so much activity in the Charleston area it is nice to have a FREE RESOURCE of information.
If you are a local business it is FREE to add your companies profile as well. Thus giving your company more exposure locally and nationally!
To visit this website go to: www.PalmettoBizBuzz.com.
Wednesday, May 23, 2007
Strand real estate sales take a dive
By Jenny Burns
Sun News Mrytle Beach
New real estate sales statistics for April show the Grand Strand still reporting the largest drop in sales in the state.
Homes and condominium sales dropped 22 percent on the Strand in April compared with the same time period the previous year. Charleston was next in line with a 15 percent drop in sales, according to the S.C. Association of Realtors. Many inland areas are posting sales increases.
Working through the coast's large inventory will take a while, analysts say.
"One of the reasons homes don't sell is pricing. We've got a lot of investors and people that bought homes on the high end that are either reluctant to lower the price or they are trying to maintain the price. Buyers are seeing if prices will come down, and they are not making quick decisions about purchasing right now," said Tom Maeser, market analyst and president of the Fortune Academy of Real Estate.
"The longer that sellers hold out for above market prices, it's going to delay that selling time. As our inventory gets depleted, we're going to start seeing a return to what people are calling a better or more stable market." Right now, the sales figures are being compared against record sales last year. The last six months of 2005 and the first six months of 2006 were the best sales ever on the Grand Strand, Maeser said. While sales are dropping along the coast, prices in April year-over-year reported increases along the Strand, according to the Multiple Listing Service.
Homes increased 15 percent in median price, while condos increased 31 percent in median price.
But analysts say that large condo price increase was skewed by sales in one upscale condominium building in April.
The 124 units that sold in Royal Palms skewed average and median prices for the month of April, Maeser said. The average price for those units was $537,374.
Going to timeshares Developer Casey Shroff, who bought The Hoffman Group last year, has started a new timeshare company in Myrtle Beach that will offer five resorts. Shroff said he's expanding into the timeshare industry with Oceania Family of Resorts because prices for new oceanfront condominiums have gotten so high that some groups of buyers can't afford them.
"The real estate market has gone up in price dramatically, and down some, but is still fairly high, starting at $249,900. That leaves a whole bunch of customers from getting in the market as far as new construction is concerned," he said.
Shroff's company - led by Mike Cousins, former vice president of Interval Ownership at Burroughs & Chapin Co. Inc. - will be different in terms of offering five oceanfront mixed-use resorts on the Grand Strand and giving buyers the opportunity to move from a timeshare to fractional ownership and eventually to whole ownership, he said.
Cousins says survey research shows vacationers want to stay on the beach but have the option to stay in different areas along the Strand - and Oceania's five resorts will offer that flexibility.
Shroff, a longtime developer, said he's convinced that the market is heading into timeshares in the long run.
"With a cost of $6,000 to $18,000, that opens up the market dramatically for us," he said.
The new company opens for sales June 1 with a staff of 50 people, said Cousins, who also serves as the chairman for the Carolinas chapter of the American Resort Development Association.
Sun News Mrytle Beach
New real estate sales statistics for April show the Grand Strand still reporting the largest drop in sales in the state.
Homes and condominium sales dropped 22 percent on the Strand in April compared with the same time period the previous year. Charleston was next in line with a 15 percent drop in sales, according to the S.C. Association of Realtors. Many inland areas are posting sales increases.
Working through the coast's large inventory will take a while, analysts say.
"One of the reasons homes don't sell is pricing. We've got a lot of investors and people that bought homes on the high end that are either reluctant to lower the price or they are trying to maintain the price. Buyers are seeing if prices will come down, and they are not making quick decisions about purchasing right now," said Tom Maeser, market analyst and president of the Fortune Academy of Real Estate.
"The longer that sellers hold out for above market prices, it's going to delay that selling time. As our inventory gets depleted, we're going to start seeing a return to what people are calling a better or more stable market." Right now, the sales figures are being compared against record sales last year. The last six months of 2005 and the first six months of 2006 were the best sales ever on the Grand Strand, Maeser said. While sales are dropping along the coast, prices in April year-over-year reported increases along the Strand, according to the Multiple Listing Service.
Homes increased 15 percent in median price, while condos increased 31 percent in median price.
But analysts say that large condo price increase was skewed by sales in one upscale condominium building in April.
The 124 units that sold in Royal Palms skewed average and median prices for the month of April, Maeser said. The average price for those units was $537,374.
Going to timeshares Developer Casey Shroff, who bought The Hoffman Group last year, has started a new timeshare company in Myrtle Beach that will offer five resorts. Shroff said he's expanding into the timeshare industry with Oceania Family of Resorts because prices for new oceanfront condominiums have gotten so high that some groups of buyers can't afford them.
"The real estate market has gone up in price dramatically, and down some, but is still fairly high, starting at $249,900. That leaves a whole bunch of customers from getting in the market as far as new construction is concerned," he said.
Shroff's company - led by Mike Cousins, former vice president of Interval Ownership at Burroughs & Chapin Co. Inc. - will be different in terms of offering five oceanfront mixed-use resorts on the Grand Strand and giving buyers the opportunity to move from a timeshare to fractional ownership and eventually to whole ownership, he said.
Cousins says survey research shows vacationers want to stay on the beach but have the option to stay in different areas along the Strand - and Oceania's five resorts will offer that flexibility.
Shroff, a longtime developer, said he's convinced that the market is heading into timeshares in the long run.
"With a cost of $6,000 to $18,000, that opens up the market dramatically for us," he said.
The new company opens for sales June 1 with a staff of 50 people, said Cousins, who also serves as the chairman for the Carolinas chapter of the American Resort Development Association.
Wednesday, May 16, 2007
S.C. foreclosure rates far lower than nation
By Daily Journal Staff
The nation’s foreclosure activity dipped 1% in April from March but was still 62% higher than the foreclosure rate in April 2006. The decline posted after hitting a two-year high in March.
The April data was released today by RealtyTrac, an online marketplace of foreclosure properties and the foreclosure data provider for MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s “Real Estate Journal.” RealtyTrac’s statistics include properties in various stages of foreclosure, including defaults, auctions and bank repossessions.
South Carolina was No. 43 in the nation for foreclosures in April, with 292 properties in some stage of foreclosure, representing one foreclosure for every 6,022 South Carolina households. The number represented a 14.12% drop from March and a 57.31% decrease from April 2006.
Nevada had the highest foreclosure rate in the nation in April at 3,737 foreclosures, with one foreclosure filing for every 232 households.
Other states ranking among the nation’s top 10 for foreclosures included California, Ohio, Georgia, Florida, Arizona, Illinois and Michigan.
Wyoming had the lowest rate of foreclosures in the nation in April, with 20 properties in some stage of foreclosure representing one foreclosure for every 11,193 households.
The report showed a total of 147,708 foreclosure filings nationwide in April, with the national foreclosure rate at one foreclosure filing for every 783 U.S. households during the month.
The nation’s foreclosure activity dipped 1% in April from March but was still 62% higher than the foreclosure rate in April 2006. The decline posted after hitting a two-year high in March.
The April data was released today by RealtyTrac, an online marketplace of foreclosure properties and the foreclosure data provider for MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s “Real Estate Journal.” RealtyTrac’s statistics include properties in various stages of foreclosure, including defaults, auctions and bank repossessions.
South Carolina was No. 43 in the nation for foreclosures in April, with 292 properties in some stage of foreclosure, representing one foreclosure for every 6,022 South Carolina households. The number represented a 14.12% drop from March and a 57.31% decrease from April 2006.
Nevada had the highest foreclosure rate in the nation in April at 3,737 foreclosures, with one foreclosure filing for every 232 households.
Other states ranking among the nation’s top 10 for foreclosures included California, Ohio, Georgia, Florida, Arizona, Illinois and Michigan.
Wyoming had the lowest rate of foreclosures in the nation in April, with 20 properties in some stage of foreclosure representing one foreclosure for every 11,193 households.
The report showed a total of 147,708 foreclosure filings nationwide in April, with the national foreclosure rate at one foreclosure filing for every 783 U.S. households during the month.
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