Is Armageddon Upon the Housing Market?
Here’s a great post from Steve Harney regarding NAR’s Existing Home Sales Report. In a word, no Armageddon is not upon us. Check out the article here.
New Secret Bank of America HPO Short Sale Details Leaked
FOR IMMEDIATE RELEASE
PRLog (Press Release) – Aug 07, 2010 – Details that Bank Of America has begun a new short sale program in an effort to stave off an increasing foreclosure inventory have leaked. The new program is called the HPO short sale program in which a Bank of America representative known as a [...]
Appealing a Tax Appraisal
I am in the process of appealing the Tax Appraisal on my personal properties. Due to the decline in the market, I believe that the value is considerably less than what the Tax Appraisal reflects. If approved, this will reduce the next tax bills (which come out in October) and result in what [...]
Live on Sullivan’s Island for Under 500k!!!
This is the least expensive property on Sullivan’s Island. Three bedrooms, 2 baths, steps from the beach, and it is listed at $449,000! This is a great opportunity for someone who wants to be on Sullivan’s Island and is willing to sacrifice some square footage to do it! [...]
List Price – Sale Price Difference for Charleston Area
Despite higher inventory and fewer sales, we are still not seeing too drastic of a departure from list price to sales price. Based on sales since June 1, 2010, here are some average departures from list price, by area:
Mt. Pleasant, 6%
Wild Dunes, 10%
Downtown, 6%
Sullivan’s Island, 8%
Isle of Palms, 10%
West Ashley, 4%
James island, 13%
Folly Beach, [...]
Charleston Real Estate Market Snapshot for June 2010
Inventory has increased 10% in a month.
The number of properties to go under contract weekly has declined each week since a high of 369 at the end of April (just before tax credits expired).
Sales have not dropped as much Downtown, East Cooper, or James Island as they have in North Charleston.
Isle of Palms sales are [...]
First Time Homebuyer Credits Ends
How will the local real estate market be impacted by the expiration of the $8,000 tax credit for First Time Homebuyers and the $6,500 tax credit for move up buyers? There might be a few less first time homebuyers in the market for the next 30 or 60 days because so many tried to get in under [...]
Charleston MLS May Update
April was the best written contract month in the MLS since 2005.
Inventory is climbing rapidly, 10,059 active listings in January, 11,357 today; all areas impacted.
Most active subdivisions in MLS: Westcott (51), Park West (43), Dunes West (37), Crowfield (23), Park Circle (21), Tanner (20), Grand Oaks (19), Legend Oaks (16).
Absorption rates for all of MLS: [...]
Updated Charleston Real Estate Market Stats (Jan – Mar)
Below, you’ll find updated stats (pdf), broken down by area. This month, we are sending stats for January-March of 2009 vs. January-March of 2010.
jan-mar09vs10pdf
Buyer activity is not shown on this chart, but I can tell you that we have had over 200 properties go under contract for 5 weeks in a row. That [...]
A Message from Carolina One Concerning the Local Real Estate Market
The following is an open letter from Patty Scarafile, the President and CEO of Carolina One Real Estate:
Dear friends and neighbors,
As we end the first quarter of 2010, I want to share our thoughts at Carolina One Real Estate with you about the Charleston real estate market.
Fortunately, it appears that the worst of the market [...]
