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  With home prices softening, some are concerned that we may be headed toward the next housing crash. However, it is important to remember that today’s market is quite different than the bubble market of twelve years ago.

Here are three key metrics that will explain why:

• Home Prices
• Mortgage Standards
• Foreclosure Rates

HOME PRICES
A decade ago, home prices depreciated dramatically, losing about 29% of their value over a four-year period (2008-2011). Today, prices are not depreciating. The level of appreciation is just decelerating.

Home values are no longer appreciating annually at a rate of 6-7%. However, they have still increased by more than 4% over the last year. Of the 10...

You can keep your home in top shape with simple tasks throughout the year. This month, be sure to:

1. Clean the vent duct for your clothes dryer. Fires created by clogged dryer vents are one of the most common causes of house fires.
2. Test your smoke detectors and carbon monoxide alarms.
3. Make sure you and your family members know the location of all gas / electrical/ water shut-off valves.
4. Examine your thermostat. Clean the heat sensor, contact points, and contacts; check your thermometer's accuracy and replace if necessary.
5. Pull out your refrigerator and clean behind the unit. Be sure to clean off the coils.
6. Replace or clean forced heat and A/C filters.
7. Check your fire extinguisher...

Analysis of residential properties that went under contract (Active Contingent) in the Charleston, SC area during the week of 2/1/19 to 2/7/19

• 328 residential properties were placed under contract past week. Very strong for this time of the year.
• 265 single family detached homes under contract past wk. Median LIST price $279k,$147/sqft. 4 under $100k. 9 over $1M, 2 of those over $2M. Median 22 CDOM. Median Yr Blt 1998, 9(3%) were BANK OWNED FORECLOSURES or SHORT SALES. Another 12% NEW CONSTRUCTION. 3 of 5 short sales in areas 31/32, 61-76
• 47 island single family homes under contract past wk. James-18, Folly-4($595k,$599k,$819k,$1.5M), Johns-12, Wadmalaw-1 ($599k), Edisto-2 ($190k...

February is here and SEWE - the Southeastern Wildlife Expo - is back!  Plus don't forget Valentine's Day on the 14th!  It's also a great month for oyster roasts and Mardi Gras celebrations, not to mention some great music and other entertainment across town.  See for yourself on our February 2019 Calendar of Events:

1: A Tribute to Edna Lewis Dinner, Middleton Place, West Ashley
1: Black History Hall of Fame, North Charleston Performing Arts Center
1: Oysterfest, SC Aquarium, Downtown Charleston
1: 15th Annual Charleston RiverDogs Hot Stove Banquet, Gaillard Center, Downtown Charleston
1-2: True West and Fool for Love, Cannon Street Arts Center, Downtown Charleston
1-2: Charleston Symphony Orch...

Charleston's Regional Economy Ranked 16th Best in Nation

The Milken Institute, a think tank based in Santa Monica, California, has ranked the Charleston-North Charleston area economy 16th among the nation’s 200 largest metro areas in 2018, up from 22nd in 2017, and considers our area to be less vulnerable to a potential national downturn.  Leading factors cited include our diverse economic base, cargo growth at the port, over $1.6 billion in auto-related manufacturing investment, growth in the high-tech sector, strong population and income growth, and well-established infrastructure.  The main liability it identifies is the U.S.-China trade war which could be detrimental to our export-...

Charleston, SC Residential Real Estate - What Happened in 2018?

Overall, 2018 was the second busiest year ever for Charleston in terms of number of residential real estate transactions. As shown in the summary chart (click on it for a larger display), a total of 17,483 transactions were recorded on the MLS in 2018.  This level was just 1.9% shy of the record level of 17,825 established in 2017. 

Median Sales Price

The Median Sales Price increased 6.4% from $255,565 in 2017 to an all-time high of $272,000 for 2018 (see table). The first graph below shows the Median Sales Price (12-month average) since 2004.  Note that the prices do not match between the chart and the graph because the...

The Internal Revenue Service has issued final rules on the 20 percent business income deduction (Sec. 199A of the Tax Code) that was enacted in late 2017 as part of the Tax Cuts and Jobs Act.

Eligibility of Rental Income 
If you generate rental property income, that income can also qualify for the new deduction, as long as you can show that your rental operation is part of a trade or business. The IRS has released proposed guidelines that include a bright-line test, or safe harbor, for showing that your rental income rises to the level of a trade or business. Under that safe harbor, you can claim the deduction if your rental activities—which include maintaining and repairing property, c...

Jan 9, 2019 - Post & Courier
By David Slade [email protected]


MOUNT PLEASANT — South Carolina’s fourth-largest city has adopted controversial limits on the number of new homes that would be allowed each year, immediately slashing home construction by a third compared to recent years.

The rules were adopted after hours of debate, numerous amendments and pleas from home builders and real estate professionals to delay, change or reject the plan. They said the rules would drive up housing prices, cause economic harm to small home builders and town residents who work for them, and potentially get the town sued.

“This could ruin me, financially,” said resident Jeff Meyer, who said he’s ...

NEW ADVANCE PROPERTY TAX INSTALLMENT PLAN FOR CHARLESTON COUNTY

To help property owners manage their finances, in 2019 Charleston County is introducing an advance property tax installment plan for real property that is not delinquent nor subject to a mortgage escrow. Enrollment forms are available online and at all Charleston County Treasurer’s locations. A separate application must be completed for each property to be included in the program. The enrollment period expires January 15th. An information session will be held on January 7th from 6:30pm to 8:30pm in Mt. Pleasant’s Town Hall Council Chambers.

Read more …

FOLLY BEACH CREATES ‘FORMULA-FREE’ BUSINESS ZONE

Folly Beach joined Su...

Hello, 2019!  We hope you welcome in the new year ... not just with resolutions that you are determined to keep ... but by also enjoying some of the many activities and events planned for the Charleston area this month.  Check out our January 2019 calendar of events:

1: Christmas at Boone Hall Plantation, Mount Pleasant
1: Dunleavy’s Pub Polar Plunge,  Sullivan’s Island
1: Bill Murray Look-A-Like Polar Bear Plunge, Folly Beach
1: "2019 Race The Landing" 5K Pajama Run, Charles Towne Landing, West Ashley
1: Hangover Race, Charleston Harbor
1: Lowcountry Kwanzaa: IMANI (Faith) Freedom Breakfast, McLeod Plantation, James Island
1: Emancipation Day Parade, Burke High School, Downtown Charleston
1: W...

In today’s market, as home prices rise and a lack of inventory continues, some homeowners may consider trying to sell their homes on their own, known in the industry as a For Sale by Owner (FSBO, pronounced "fis-bo"). There are several reasons why this might not be a good idea for most sellers.

Here are the top six reasons:

1. Exposure to Prospective Buyers
According to NAR’s 2018 Profile of Home Buyers and Sellers, 95% of buyers searched online for a home last year. That is in comparison to only 13% of buyers looking at print newspaper ads. Most real estate agents have an Internet strategy to promote the sale of your home, do you?

2. Results Come from the Internet
Where did buyers find ...

How to Save Thousands of Dollars in Interest on Your Mortgage

One of the most common loans you can get to buy a home is a 30-year fixed rate mortgage. If the thought of paying for your home over the course of 30-years seems daunting, here are some easy ways to shorten that term which will actually end up saving you money over the life of your loan.

Any additional payments to the principal amount (the original sum of money borrowed in a loan), helps to cut down the amount of interest that you will pay over the life of your loan and can also help to shave years off the loan as well.

When you make ‘extra’ payments toward your loan, the key is to let your lender/bank know that you want the...

Coming Soon!

This beautiful 4-br. 3.5-ba. home is soon to be placed in the MLS at a list price of $525,000!

Call us today on 843-900-0155 for more information & details! 

As we approach the end of the year, many homeowners find themselves asking the question, “If we’re currently in a strong real estate market, why won’t my house sell?”

Below are the 6 most common reasons why a listing contract will expire:
1. Price
Sometimes when the market is hot, homeowners attempt to set their listing price higher. Their hope is that a motivated buyer will be willing to pay any price for a house in their desired neighborhood! Sellers must remember, though, that in today’s market a house must be sold twice; first to the buyer and then to their bank.

A buyer can agree to pay the homeowner’s asking price, but after the bank conducts their appraisal, the price might need to...

National home prices have increased by 5.4% since this time last year. Over that same time period, interest rates have remained near historic lows which has allowed many buyers to enter the market and lock in low rates.

As a seller, you will likely be most concerned about ‘short-term price’ – where home values are headed over the next six months. As a buyer, however, you must not be concerned about price but instead about the ‘long-term cost’ of the home.

The Mortgage Bankers Association (MBA), Freddie Mac, and Fannie Mae all project that mortgage interest rates will increase by this time next year. According to CoreLogic’s most recent Home Price Insights Report, home prices will apprec...

The Keller Williams Mobile Home Search App

It can get exhausting looking for a home that meets your every need, or even when you are in the middle of the selling process, and don’t know which way to turn for answers – what do the homes in your area really sell for? what does the current market in your area look like? what could you look at today and get a great feel for what you could really afford, or maybe, what should you be listing your home at if price has been of a concern?

When you ask questions, I want to be able to provide answers – and much more! Keller Williams Realty has given home buyers the opportunity to have full access to what other mobile property search apps simply ca...

The December holiday season is upon us … and is it ever an eventful one!  There is something to do for everyone on your list, whether it’s taking the kids to see Santa (he really gets around the Lowcountry!), finding unique gifts at area holiday markets, attending any number of performances and New Year’s Eve celebrations with your special someone (but, unlike Santa, you can only be at one place at any one time!), and so much more!  See for yourself on our December calendar of events and let us know what activities you decide to partake in this month:

1: Breakfast & Visits with Santa, Felix C. Davis Community Center, North Charleston

1: Charleston Horticultural Society’s Holiday Green...

Events, Concerts and Activities in Charleston, SC for December 2018

9: A Christmas Carol Starring English Stage Actor James Dyne, Circular Congregational Church, Downtown Charleston

9: Chanukah in the Square, Marion Square, Downtown Charleston

9: Christmas at the Sottile with the Charleston Men’s Chorus, Sottile Theatre, Downtown Charleston

9: Chris Tomlin Christmas: Christmas Songs of Worship, Gaillard Center, Downtown Charleston

9: 4th Annual Soul of the Lowcountry Oyster Roast, Sunlean, Johns Island

9: 23rd Annual Christmas Light Parade, Coleman Boulevard, Mount Pleasant

9-10: Gracie & Lacy: It’s Christmas in Charleston!, Forever Charleston Theatre, Downtown Charleston

10: Nati...

SINGLE-USE PLASTICS BANS SPREADING ACROSS THE LOWCOUNTRY

The City of Charleston is the latest municipality in the Lowcountry (and largest in South Carolina) to approve a ban on the use of single-use plastics by local businesses.  

The City passed an ordinance on November 27th that will include plastic bags, straws and foam containers and will go into effect on January 1, 2020. It joins Folly Beach, the Isle of Palms, Mount Pleasant and Sullivan’s Island in the Charleston metro area and the Town of Hilton Head and Beaufort County to our south. Read more …

NEW INTERNATIONAL AIR SERVICE COMES TO CHARLESTON!

The Charleston region is home to over 140 international businesses...