Posts by : Alan Donald

Should I Move or Refinance?

The level of equity homeowners have is at an all-time high. According to the U.S. Census, over 38% of owner-occupied homes are owned free and clear, meaning they don’t have a mortgage. Those with a mortgage are seeing their equity skyrocket too. Every time real estate values increase, homeowners get a dollar-for-dollar gain in their home equity.

According to the first-quarter 2021 U.S. Home Equity Report from ATTOM Data Solutions:

“17.8 million residential properties in the United States were considered equity-rich, meaning that the combined estimated amount of loans secured by those properties was 50 percent or less of their estimated market value.

The c...

One of the most challenging aspects of home ownership is selling an existing property while buying a replacement. It can be a very stressful and sometimes impossible task due to financial constraints and undesirable contingencies.

In a “normal” market, purchasing the new home with a “Contingency on Sale” of the old home is an acceptable alternative, and “back to back” closings are more feasible.
However, in an under-supplied “Hot Market” many buyers are competing for a few properties and sellers will not look favorably on such contingencies. Buyers that include a contingency on sale will likely lose out, unless they are willing to pay a large premium and waive the appraisal contingency, ...

Records Broken at the Port of Charleston

Not only has the Port of Charleston just experienced two record-breaking months in terms of cargo volume handled, but last Friday it welcomed Marco Polo, the record-breaking container ship. Record cargo volumes were achieved in April across many categories and business segments, including containers, vehicles, loaded imports and exports. This was due to continued economic recovery, strong business and population growth across the Southeast, strong manufacturing and automotive sectors in the state and nearby, and improved port capacity due to over $2 billion in recent investment in enhancements, expansions and harbor deepening. Last Friday, the...

Welcome to June, the month of graduations, the start of summer vacation (and the Atlantic hurricane season) and the return of summer camps! Holidays this month include National Trails Day (5th), Flag Day (14th), Juneteenth (19th) and Fathers Day (20th). The Summer Solstice - the longest day of the year - is also on the 20th!  You can now enjoy fresh local produce from a farmers market almost every day of the week. Plus, with the reopening of several cultural venues, the Charleston area has a few noteworthy festivals to look forward to this month, including the 1st Annual Park Circle Pride event (1st - 6th), the return of Spoleto Festival USA and Piccolo Spoleto Festival (both through th...

Immaculate, 5-bedroom, 3-bathroom home in Wescott Plantation!

Call 843-900-0155.

9205 S Moreto Circle
Summerville, SC

MLS# 21012116 - Residential

Relax and entertain in this spacious 5-br., 3-ba. home in Wescott Plantation! Dorchester II schools! Grand two-story foyer, curved archways, formal dining and living rooms. Laminate hardwood floors throughout the first floor. A wide hallway leads to an open-concept floor plan, with an eat-in kitchen and family room with gas log fireplace. The kitchen has granite counters, S/S appliances, tile backsplash and new dishwasher. Sliding glass doors open to a screened porch and covered patio that provide great space to relax and en...

Last week we had an amazing week in terms of residential real estate activity!

We desperately need more HOMES TO SELL!!

Thinking of moving? Call us on 843-900-0155 to discuss a CUSTOMIZED PLAN to achieve YOUR GOALS!

Man Finds Prehistoric Shark Tooth on Summerville Construction Site

Summerville’s increasing growth and development has “unearthed” a rather interesting surprise - a fossilized 6.45-inch prehistoric megalodon shark tooth - and there are likely many more to be found!  Matthew Basak, a lifelong fossil enthusiast and employee of Palmetto Fossil Excursions (based in Charleston), reported that he was digging around a Summerville construction site when he uncovered the giant tooth just below the soil.  Although Basak’s fossil find is nearly larger than his hand, it is not the largest megalodon tooth to be found.  The largest megalodon tooth found to date measured in at nearly 6.5 inches, and ...

Hello and welcome to the beautiful month of May, which is Military Appreciation Month!  Time to head outside and enjoy the mild spring weather before the heat of summer sets in!  This month is brimming with all sorts of events that are perfect for soaking in the sun and enjoying time with friends and family, including the Lowcountry Strawberry Festival and the Spoleto Festival.  The folk tradition of May Day and the Kentucky Derby ring in the month on the first.  If you need a reason to sit back and sip on some lemonade with friends, May 2nd also happens to be National Lemonade Day and World Laughter Day!  Celebrate Cinco de Mayo and African World Heritage Day on May 5th, and be sure to s...

The Charleston, SC residential real estate market is behaving like most markets in the U.S. - supply is very low and demand is very high, which causes extreme buyer competition and rising home prices.

However, real estate is "hyper-local" and there are some differences between different areas of town.

The following table illustrates the "Months of Inventory" (also called "Months of Supply") index for the different MLS areas in our metro area (click image to view full size).

[We define a "neutral" or "balanced market one with 6 months of inventory. In such a market the same number of homes come on the market as the number that go under contract, so supply and demand are balanced. By c...

April is here and we are so excited to bring you this month’s spring calendar!  This month is packed with plenty of fun and refreshing indoor and outdoor events, as well as virtual events for those who want to stay in and keep cozy on the couch!  For those who are ready to get out and enjoy this spring weather, check out the area farmers markets sprouting up again, downtown's Festival of Houses and Gardens (through July), Mount Pleasant's Blessing of the Fleet (25th), among many other lively events.  April Fool’s Day may be on the 1st, but it’s no joke that it’s also National Burrito Day!  Celebrate the religious holidays of Passover (through the 4th), Easter Sunday (4th), and Ramadan (...

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.

#realestate #realestatetips #insurance #homeownersinsurance #hazardinsurance #floodinsurance #FEMA #titleinsurance #homewarranty #mortgageinsurance #pmi #alandonald #kellerwilliamsrealty #charlestonsc

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...