Posts by : Alan Donald

Local Artist Snags $69.3 Million For One-Of-A-Kind Digital Artwork

Local North Charleston artist, Mike Winkelmann, made history on March 11th when his single digital artwork, entitled “Everydays: The First 5,000 Days”, sold at the renowned Christie’s Auction House for a cool $69 million.  It was the third highest price paid at auction for work by a living artist, and the bidding lasted nearly two weeks.  Winkelmann's art is edgy, contemporary, and reminiscent of a modern Dali, and much of his work appears to satirize real people and events from politics and pop culture.  The big "buzz", however, regarding Winkelmann's work, is not so much the content of his art but the technology that he...

In the video below, Alan Donald with Keller Williams Realty talks about the different types of insurance products involved in buying and owning real estate.

Questions? Call us on 843-900-0155.

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Spring has sprung and so has the March events calendar, with many diverse indoor and outdoor events and organized activities on offer!  While a number of major annual events have been postponed due to COVID, Mount Pleasant's ArtFest is set for March 13th and the 74th Annual Festival of Houses and Gardens has been reimagined and will run from March 11th through August 17th!  Don't forget that clocks "spring forward" on Sunday, March 14th, that St. Patrick's Day is on the 17th, and that March is Women's History Month!  Please be sure to participate safely and to confirm whether an event is still on. Enjoy!

Wednesdays: Holy City Farmers Market, Holy City Brewery, North Charleston
Wednesdays:...

The Charleston Digital Corridor is Growing!

The Charleston Digital Corridor's (CDC) Annual Report for 2020 and Annual Wage and Job Growth Survey, both released in February, reveal that Charleston's local tech hub is growing and contributing to the local economy across several measures: raising capital, hiring, wages, and facility space. Included in this sector are tech and tech-related companies in aerospace, biomedical, creative, defense, software, tech products and tech services. Some of the CDC's initiatives include the CharlestonWorks.com web directory that features these companies, the Charleston Free WiFi Initiative that has thus far brought free and fast WiFi service to 12 area ...

Boeing to Create 100% Sustainably Fueled Jets by 2030

Have you ever heard of a commercial plane that can be flown using 100% sustainable fuel? The answer is probably not. That is because the Boeing ecoDemonstrator flight-test program, in partnership with FedEx, has recently created a 777 freighter as the world's first commercial airplane to use 100% sustainable aviation fuel. In a recent news release, Boeing stated that it pledges to create commercial airplanes that can fly 100% off of sustainable fuel by 2030. If Boeing accomplishes this goal, it will help reach the nationwide industry goal, set by the Sustainable Aviation Fuel Act, of reducing carbon emissions by 50% by 2050. Presi...

February is here and although it may be a shorter month, that does not mean there is a shortage of events. Groundhog Day is the 2nd, Galentine's Day is the 13th, and do not forget Valentine's Day is the 14th! In the spirit of new things, Ohm radio is offering singing telegrams on Valentine's Day, so why not surprise your loved ones with something extra special this year! Check out all the fun with our February 2021 calendar of events.

2/1-2/7: Taste of Folly, Folly Beach
2/1-3/6: Uptown Girl, Thirty-Four West Theater Co., downtown Charleston
2/2: EXC & FAB Golf Tournament 2021, Municipal Golf Course, James Island
2/3, 2/5, 2/10, 2/12-2/14: Stingrays home hockey games, North Charleston Col...

Taken from the National Association of Realtors:

"The National Association of REALTORS® identified the top 10 markets that have shown resilience during this pandemic period and that are expected to perform well in a post-COVID-19 environment. In identifying these markets, NAR considered a variety of indicators that it views to be influential to a metro area’s recovery and growth prospects in a post-pandemic environment in 2021-2022.

In alphabetical order, the Top 10 markets are:

• Atlanta-Sandy Springs-Alpharetta, Georgia
• Boise City, Idaho
• Charleston-North Charleston, South Carolina
• Dallas-Fort Worth-Arlington, Texas
• Des Moines-West Des Moines, Iowa
• Indianapolis-Carmel-Anderso...

As we start 2021 with RECORD LOW inventory, it is important to note that not all the areas within the Charleston, SC metro area behave identically.

The table above shows the number of home sales that were Short Sales, Foreclosures and New Construction homes, by MLS area.

This table provides some interesting conclusions:

1. In 2020, the overall number of sold homes was up by 17.5% from 2019;
2. Foreclosures and short sales are almost non-existent (0.9% of sales);
3. Although the number of new construction sales increased by 17%, builders are not keeping up with increased demand (inventory keeps falling); and
4. Areas 63 (Summerville/Ridgeville) and 74 (Berkeley County-Jedburg Rd, Hwy 17A, Co...

Nexton, one of the leading edge planned communities in Charleston, SC had fabulous growth in 2020 and has become the "poster child" for master-planned communities in the U.S. The developers of Nexton want to provide an environment where residents can work play and interact without leaving the community. Nexton is owned by North America Sekisui House, LLC (NASH), and is developed by Newland Company. Both companies share a deep commitment to sustainable development practices and apply these core values to the vision, planning, and development of the project.

To achieve this, they have carefully planned a mix of cutting-edge commercial office buildings, retail shops, restaurants, apartmen...

I read this interesting article written by Cora Fume from the Consumer Protection Federal Bureau in December, 2020 and thought it was important to share it with you:

"The COVID-19 pandemic has affected many Americans’ financial and retirement plans. If you’re a homeowner over age 62, you may be thinking about a reverse mortgage. A reverse mortgage is a loan that allows older homeowners to use the equity in their homes. Unlike a traditional mortgage, there is no monthly mortgage payment, and the loan is usually repaid when the borrower sells or no longer lives in the home.

As a result of the economic uncertainty caused by the COVID-19 pandemic, scammers may be targeting older homeown...

The housing market recovery coming into the new year has been nothing short of remarkable. Many experts agree the turnaround from the nation’s economic pause is playing out extremely well for real estate, and the current market conditions are truly making this winter an ideal time to make a move. Here’s a dive into some of the biggest wins for homebuyers this season.

1. Mortgage Rates Are Historically Low

In 2020, mortgage rates hit all-time lows 16 times. Continued low rates have set buyers up for significant long-term gains. In fact, realtor.com notes:

“Given this means homes could cost potentially tens of thousands less over the lifetime of the loan.”
Essentially, it’s less expensiv...

HOT NEW 55+ LISTING at Elms of Charleston

Fabulous 1-story home in centrally located 55+ active adult community!

• Move-in condition
• Centrally-located, quiet cul-de-sac
• Minimum upkeep
• Two large bedrooms, two full bathrooms, spacious eat-in kitchen (new appliances), formal dining room, living room with vaulted ceilings and built-in shelves.
• Parquet floors in the foyer, new laminate floors in all living areas and berber carpet in the bedrooms.
• Attached garage and a covered back porch where you can enjoy your morning coffee privately, looking at your larger-than-average backyard.
• HOA fees provide lawn maintenance & landscaping, pressure washing, trim painting, swimming pool, clubho...

Local Saltwater Hydroponic Farm is the First in the Nation 

Did you know that you can grow plants in saltwater? Well, Sam Norton, founder of Heron Farms, has just created the country's first indoor saltwater hydroponics farm. Growing up in the Lowcountry, Sam was no stranger to the flooding that comes with it, and while visiting Bangladesh, he witnessed the devastating effects to farmers of saltwater intrusion on their rice paddy farms. This prompted him to question if, instead of letting this natural occurrence continue to be a burden on many lives, there were a way to use it as a resource instead. Hydroponic farming is different in the sense that, while most farming is done in soil, ...

Wow, what a year 2020 was due to the COVID-19 pandemic! There was some good mixed with the bad but it was definitely a year that we will always remember. We sure are glad to start anew in 2021 and look forward to getting this virus under control! There are several events this month to help bring in the new year so go out and have some fun. Please remember to wear your mask and practice social distancing. And don't forget that Martin Luther King Jr. Day is on the 18th, with a parade and music planned for Marion Square. Here is your January 2021 calendar of events:

Wednesdays & Saturdays: Early Morning Bird Walks, Caw Caw Interpretive Center, Ravenel
Fridays: Nature Rx: Forest Bathing Fri...

1,500-acre Tract Added to Francis Marion National Forest

Thanks to the efforts of three local entities, the 8,100-acre Francis Marion National Forest will soon expand to encompass the 1,500-acre White Oak Atlantic Creosote Tract north of McClellanville, home to some of the most enchanting longleaf pine woods in the Lowcountry. Purchased from the White Oak Forestry Corporation, an organization that helps preserve local forestries in and around the Santee Delta, this tract of land will be the National Forest's seventh addition - and its largest to-date. Its purchase was made possible with the support of the Charleston County Greenbelt Program and the federal Land and Water Conservation F...

What could bring more cheer this year than the holidays? Having just celebrated Thanksgiving and with Hannukah, Christmas, Kwanzaa, and New Year's Eve right around the corner, it is truly a time to be thankful and rejoice. There are many events and activities happening this month from Christmas tree lightings, to classic holiday movies being shown, and even a chance to see Santa! So grab a loved one, or two, and enjoy yourselves, while maintaining your distance from others of course! Here is our December calendar of events:

Wednesdays & Saturdays: Early Morning Bird Walks, Caw Caw Interpretive Center, Ravenel

12/1: Old Time Summerville Christmas Celebration (Tree Lighting), Hutchinson S...

What Is Title Insurance? 

Insurance is one of those costs that no one likes to pay. But we pay insurance premiums to be able to sleep well at night, without major financial concerns. There are many types of insurance products including home (hazard insurance), health insurance, life insurance, flood insurance and title insurance. 

What is Title Insurance?

Although title insurance is normally issued at every closing, many buyers are not aware of what it is or how it works. Knowledge is power, and learning more about Title Insurance can save you hundreds of dollars at closing and even worse headaches and costs if title problems arise later. 

TITLE INSURANCE protects the owner (or the ...

Quick real estate update from Charleston, SC.

Our residential market continues to be "very hot". Up by 13.9% in terms of number of homes sold in the last 12 months compared to the previous 12 months. Up by 16.3% in median home price since last year. And down by 47.1% in inventory!

Our market is very under-supplied! It appears that low interest rates have stimulated demand and the COVID pandemic and the election only fueled it, while not many people are willing to sell.

Home Sellers: Did you know you may have to negotiate your home up to three times? Anyone can sell a home in this market. But not everyone can get a top market price after all three negotiations are said and done.

Home B...

English

The Charleston Trident Association of Realtors® (CTAR) reported 2,098 homes sold in October in the Charleston region at a median price of $317,454 citing preliminary data as of November 2, 2020.

Year-to-date, 17,867 homes have changed hands at a median price of $299,000. At this point last year, 15,694 homes had sold at a median price of $278,815. Thus far in 2020, the number of closed sales has increased by nearly 14% and median price is 7% higher.

Inventory data shows 50% fewer homes for sale over the last 12-month period, with 3,062 homes listed as “active” for sale in the CHS Regional MLS database at the end of October—representing a scant 1.6 months of available inventory,...

What is Likely to Happen Next Year? 

Watch this short video to find Alan's predictions for 2021 for the residential real estate market in our area. 

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Read transcript below:

Hi, I'm Alan Donald with Keller Williams Realty and today I'm going to give you my crystal ball predictions for the residential real estate market in Charleston for 2021.

My first prediction is that home prices in the Charleston area will remain high.

We are at such a low point in inventory that we could double our inventory
and still be in a “seller's market”.

For that reason. I think home prices will remain high in 2021.

My second prediction for 2021 is that mortgage interest rates will remain low.

I ...