Posts by : Alan Donald

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 ...

Volvo Car Stadium Announces Renovations and Modernization 

After 20 years of the Volvo Car Stadium hosting many memorable events on Daniel Island, Ben Navarro, owner of the Charleston Tennis LLC, the parent company of the stadium, decided it was time for the venue to get a makeover. Charleston Tennis LLC has partnered with the City of Charleston to renovate and modernize the space. The new plan will feature a multi-story "Stage House" housing player wellness facilities, media, production, and food preparation areas, and a VIP Club level that will overlook the Center Court. The new structure will provide weather protection and shade for fans and the stage. Everything has been consid...

November is here, as is that extra hour when Daylight Savings Time ends on the 1st.  So be sure to turn those clocks back an hour and enjoy the extra time with your family and friends in the beautiful Charleston weather!  We have two important holidays this month - Veterans Day on the 11th and "Turkey Day" (or Thanksgiving as most know it) on the 26th - not to mention Election Day on the 3rd!  More and more venues are starting to open their doors to allow guests into their facilities while still following CDC guidelines, so get out and enjoy yourselves safely.  Here is our November calendar of events: 

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

It’s fall y’all!  October and its outstanding weather are finally upon us, not to mention the start of oyster season, Columbus Day (12th) and Halloween (31st). More live events are planned for the month across the Charleston area, with safety protocols in place for COVID-19.  So be sure to get out and enjoy the fresh air and offerings...safely!  Here’s our October calendar of events:

Tuesdays: Mount Pleasant Farmers Market, Moultrie Middle School
Wednesdays & Saturdays: Early Morning Bird Walks, Caw Caw Interpretive Center, Ravenel
Thursdays: North Charleston Farmers Market, Felix C Davis Community Center, Park Circle
Thursdays: Live Under the Oaks Concert Series, Mount Pleasant Towne Cen...

Boeing to Consolidate 787 Dreamliner Production in Charleston Area

Great news for Charleston! Following an in-depth feasibility study, Boeing has just announced that it will consolidate production of its 787 Dreamliner jets on its North Charleston site in order to improve operational efficiency, recovery and long-term growth in the face of the market downturn brought about by the impact of COVID-19. It aims to do so starting by mid-2021. Its' Everett, Washington site will maintain its focus on producing the 737, 747, 767 and 777 airplanes.  Boeing will continue to assess potential impacts to employment in Everett and North Charleston and will communicate any changes directly to its emp...

The U.S. Senate approved a bill Wednesday that funds the federal government through Dec. 11; the bill includes a full-year extension of the National Flood Insurance Program (NFIP) and surface transportation funding.

 
The bill, which was passed by the U.S. House last week, now goes to President Trump. He is expected to sign it.
 
Under the agreement, NFIP authority is extended through Sept. 30, 2021.
 
“This is the second year in a row we have secured a full fiscal year extension for flood insurance.  It is a victory for REALTORS® and something we fought for very hard,” says Shannon McGahn, the incoming chief advocacy officer for NAR.  “While we continue to work toward comprehensive reform an...

Location, location, location!

3D Tour:

Built on one of the nicest pond lots in Belle Hall Plantation and enjoying peaceful views of the water and marsh, this fabulous home with 3-brs. & 2.5-baths plus a huge bonus room that can be your 4th bedroom, playroom or office.

Downstairs you have a formal dining room, a family room with a fireplace, a very practical kitchen with a work island and eat-in area that looks back to the backyard. A pantry, a half bath and a beautiful screened in porch complete the first floor.

This home is perfect for playing and entertaining guests! Most of the downstairs areas have hardwood or laminate flooring.

Enjoy the bird life and natural setting!

The Charleston, SC residential Real Estate Market is On Fire!

Charleston, SC. September 3, 2020

Last week 464 homes went under contract!

We had set the weekly record of 458 homes back in 2018. and we have surpassed that number for 16 of the last 17 weeks! Demand has never been at this level, and certainly not this late in the year.

Inventory continues to drop, we now have less than 3,400 active listings in our MLS, while we had between 5,000-5,500 active listings for most of the last 5 years.

And consequently, it's a Hot Seller's Market! Overall we have 1.9 months of inventory (supply). In other words, 1 out of every 2 new "For Sale" signs that you see will be under contract nex...

Grab your bathing suit because Charleston Water Week is just around the corner! From September 5th to 13th, Charleston will be home to a bunch of exciting water events held across 21 different venues. 

All of these activities will surely make you hungry and thirsty. So be sure to check out the area's awesome array of food, including fresh local produce at our farmers markets, not to mention Summerville's Sweet Tea Festival (9/14-9/18). You might even be able to catch a deal on your meal, especially during this month’s holidays which include Labor Day (9/7), National Tailgating Day (9/5), Chocolate Milkshake Day (9/12), National Pepperoni Pizza Day (9/20) and many others. Click this lin...

The Fastest-Growing Companies in Charleston

Charleston continues to show it's strong entrepreneurial spirit! The 2020 Inc. 5,000 list includes 29 companies from the Charleston metro area that are amongst the fastest-growing private companies in the nation. They represent a wide variety of industry sectors including construction, IT management, and more. A fascinating aspect about the businesses listed is that most of them specialize in helping other businesses grow. For example, Q4Launch, describes their services as "high-quality digital marketing, web design, and content creation to take hospitality businesses to higher levels". No. 2 on Charleston's list is MedTrust, a private amb...

Lowest Mortgage Rates in History: What It Means for Homeowners and Buyers

In July, the average 30-year fixed-rate mortgage fell below 3% for the first time in history.1 And while many Americans have rushed to take advantage of this unprecedented opportunity, others question the hype. Are today’s rates truly a bargain?

While average mortgage rates have drifted between 4% and 5% in recent years, they haven’t always been so low. Freddie Mac began tracking 30-year mortgage rates in 1971. At that time, the national average was 7.31%. As the rate of inflation started to rise in the mid-1970s, mortgage rates surged. It’s hard to imagine now, but the average U.S. mortgage rates reached a high o...