List Price – Sale Price Difference for Charleston Area
Posted on | August 9, 2010 | No Comments
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, 7%
I am happy to run these numbers specifically for any neighborhood or area
Pre-Listing CL-100 Inspection
Posted on | August 4, 2010 | No Comments
I recently did a pre-listing CL-100 which turned out to be very helpful. In the Lowcountry, we have lots of older homes on crawlspaces that are pretty tight. Often, HVAC ductwork is run in these crawlspaces. Over time, the ductwork can develop small leaks and cold air gets out, mixing with the incredibly hot (and already humid) air in the crawlspace. When this happens, condensation forms, and creates moisture. Since wet wood is what termites and the fungus that causes wood rot love, this is something we want to minimize. When a termite inspector performs a termite inspection, he looks for high moisture readings in the crawl space, and also areas of active or inactive termites, or wood rot, and any related damage. They have a little probe that they stick into the wood that tells the moisture reading. The lower this number the better, but it is rarely very low in the summertime here. However, over 28% is when the fungus that causes wood rot becomes active, so we definitely want to be under that. Read more
To Do in the Garden for July
Posted on | July 15, 2010 | No Comments
- Work to maintain the garden during the heat. Keep it clean and water regularly.
- Start perennial seeds for fall planting
- Do not fertilize lawn during drought
- Fertilize annuals monthly, fertilize perennials and summer flowering shrubs, crape myrtles, gardenias, hydrangeas
- Cut back annuals and perennials that have become too tall. This will encourage bloom
- Keep an eye out for insects and disease and spray if needed/desired.
- Vacation Tips: mow lawn and trim edgings, mulch recently planted plants to conserve moisture, sink potted plants below soil level in a shady area and water well, cut back blooms on annuals and perennials and lightly fertilize, water everything with a long, slow soaking.
Advice for an “Occupy Prior to Closing Agreement”
Posted on | July 5, 2010 | No Comments
Ah, the Occupy Prior to Closing Agreement. What a delight.
Seriously, though, if you are selling a home, and the buyer wants to move in before it closes, there are many things you need to consider.
- Check with your insurance company to make sure you don’t need to get a landlord policy. The Buyer needs to cover their own contents and liability.
- Whose name will the utilities be in?
- What is the per diem amount you will charge them to live there, and when does this end?
- What if the sale falls through? How long do they have to move out?
- What if the sale falls through, they move out, and they have done damage to the home? It’s a good idea to ask for an amount of money, separate from the earnest money, that is refundable ONLY at closing.
- The Buyer should not make alterations to the home (painting, etc.) prior to closing.
- The Buyer should accept the property in its current condition BEFORE taking possession, and taking possession should mean that they are satisfied with the condition of the property.
- Who is responsible for maintenance?
And the list goes on. Sometimes this is a solution that works for all parties, so I’m not saying that you should refuse to agree to it. Just be careful, and make sure you have all the bases covered. There are a lot of opportunities for issues to arise, and the better prepared you are, and the more protective your written agreement is, the better off you’ll be.
Local Charleston Artist, Sterling Pickett
Posted on | July 2, 2010 | No Comments
If you are looking for a one of a kind gift, or something great for yourself or your home, visit www.sterlingpickett.com. Sterling Pickett is a local artist specializing in hand painted gifts (oyster knives, barware, etc.), handmade jewelry, photography, and fabulous custom invitations! Check out her website and the next time you need a gift, Buy Local!
Charleston MLS Statistics for May 2009 vs. May 2010
Posted on | July 1, 2010 | No Comments
Below, you’ll find the monthly statistics updates for the MLS. Happy Fourth of July!
MLS areas that have enough sales to be relevant have green and red notations for statistics that are significantly different than the entire MLS. There are month versus month statistics near the bottom of the chart, and there are also rolling 6 month and rolling 12 month numbers at the bottom of the chart.
You will see that Jan-May of 2010 is up about 24% in number of transactions and up about 3% in price from the same time period in 2009. This was to be expected b/c of the tax credit.
The 12 month rolling numbers at the bottom of the page show the last 12 months to be up 14% in number of transactions and down about 5% in price from the previous same 12 month period.
With increased supply and decreased demand (since the tax credits have expired) it is likely that prices will continue with a slight decline. Homes priced over 500K are going to see more significant declines.
Good news for our area: Mt. Pleasant has been awarded the prestigious “All America City” award for 2010, along with only 9 other cities in the nation.
On a personal note, thank you to everyone who has sent us a referral in the past month. We truly enjoy the referral based aspect of this business, and it lets us know that our hard work is appreciated. We are 100% committed to providing your referrals with excellent service. Please keep them coming!
Charleston Real Estate Market Snapshot for June 2010
Posted on | June 30, 2010 | No Comments
- 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 twice last year’s levels.
- Most recent Seabrook and Isle of Palms sales are below $300/sf.
- The most active Mount Pleasant neighborhoods are: Park West, Dunes West, Rivertowne, Planters Pointe, Old Mt. Pleasant, and I’on.
Where to See Fourth of July Fireworks Around Charleston, SC
Posted on | June 30, 2010 | 1 Comment
If you don’s have plans for July 4 yet, here’s some ideas for celebrating America’s birthday:
Patriot’s Point in Mount Pleasant: Live entertainment, food, and the state’s largest fireworks display shot off of the flight deck of the USS Yorktown. This event is family friendly and starts at 4:00pm. Fireworks around 9:15.
Riverfront Park in North Charleston: The show starts at 3:00pm and will feature live music from CoastRunner, The BLue Dogs, and Quiana Parler and Friends. Fireworks will be from 9:00-until.
Isle of Palms Pier: Fireworks display over the ocean around 14th avenue (IOP Pier). What better place to watch than on the beach.
Sullivan’s Island Town Park: Fireworks and music in the park. Bring a lawnchair, and fireworks start at dark (approx. 9pm).
Summerville’s 4th Celebration: Located at the Jerry Blackwell Sports Complex (located at Gahagan at 515 W. Boundary Street). Food available via concessions, bring chairs and coolers but no alcohol. Festival starts at 5, fireworks at 9pm.
Folly Beach Fireworks: Folly Beach will hold its July 4 celebration on Saturday, July 3 at the county park. The show begins at dark.
There may be others, but these are the fireworks shows I have found. Look for me at either the Sullivan’s Island display or at Patriot’s Point. Happy Birthday, America!
Onion Tartletts
Posted on | June 29, 2010 | No Comments
This is an excellent and very easy appetizer. If you have company coming, you can prepare the filling ahead of time and just fill and bake when you are ready to. I’ve never tried to freeze these, but I bet you could. Read more
To Do in the Garden for June
Posted on | June 25, 2010 | No Comments
- Plant dahlias and fall-blooming bulbs. Take tip cuttings of perennials and plant in sand or vermiculite.
- You can still sow zinnias, marigolds, celosia, etc.
- Fertilize roses, gardenias after blooming. Do not feed annuals until buds show or you will get lush foliage and few flowers.
- Lightly prune holly ferns to control size.
- Pinch back tips of chrysanthemums until August to make the plants bushier and bloom more.
- Also pinch bask dahlias, petunias, and portulacas.
- Remove dead blooms from plants to encourage more blooms.
- Shade camellias that have been planted less than 2 years.
