Posts by : Alan Donald

I can finally see 2020! What better way to bring in the new year - other than sticking to your resolutions - than having some fun at any number of events planned across the Charleston area. You can start with a Polar Plunge or maybe a 5K! And don't forget that Martin Luther King Jr Day is on the 20th, so go check out the parade, music and fun at Marion Square! Here is your January 2020 calendar of events: 
1: Race the Landing 5K New Year's Day Pajama Run, Charles Towne Landing
1: First Day Hike, Colonial Dorchester State Historic Site, Summerville
1: 7th Annual Bill Murray Look-A-Like Polar Bear Plunge, Folly Beach 
1: Dunleavy's Pub 2020 Polar Plunge, Sullivan's Island  
1: Polar Bear Plunge,...

Boone Hall Plantation Placed Under Conservation Easement 

One of Charleston's beloved tourist attractions, Boone Hall Plantation, has recently been placed under a conservation easement. In 1955, Willie McRae's father purchased the plantation for his mother, which she opened to visitors soon after they moved there when Willie was one. A conservation easement is a voluntary legal agreement that limits the use of the land, specifically in this case, the forests and farmland on the plantation. This easement consists of nearly 600 acres, including 370 acres of forestland and 1.5 miles of creek frontage. With the rapid growth in Mount Pleasant, Willie McRae said he wanted to keep it the "mysti...

So, how's the market?
This is the question that every Realtor gets every time. There are so many nuances to talk about that it is virtually impossible to condense everything into a 2-minute conversation. 

This report goes from the general to the specific:

We will look at the US economic outlook, the mortgage rates, national home prices and rental rates and home affordability, then we're going to look at the Charleston SC market sales activity, home prices, supply and demand, a few sub-markets, market trends and the prognosis for 2020.

[IMPORTANT NOTE: At the very bottom of this blog, you will see specific market reports for MLS Areas such as Daniel Island and Lower Mount Pleasant. The...

Some Highlights

Winter is a great time to list a house, since inventory is traditionally low, and most sellers are holding off until spring to put their homes on the market.

Waiting for warmer weather when more competition is on the market will only put your house up against many more choices for buyers.

Get your house ready to sell now with quick and easy fixes that make a big impact.

Call/text 843-900-0155 to set up a "pre-listing" appointment (at no charge to you!). We'll give you key advice to improve the market appeal and increase the sales price of your home. 
 

Economists Expect the Charleston Real Estate Market to Outpace National Averages Through 2025

CHARLESTON, SC—(December 11, 2019) The National Association of Realtors® (NAR) identified 10 markets expected to outperform over the next three to five years. In alphabetical order, the markets are:
• Charleston, South Carolina
• Charlotte, North Carolina
• Colorado Springs, Colorado
• Columbus, Ohio
• Dallas-Fort Worth, Texas
• Fort Collins, Colorado
• Las Vegas, Nevada
• Ogden, Utah
• Raleigh-Durham-Chapel Hill, North Carolina
• Tampa-St. Petersburg, Florida
 

“Some markets are clearly positioned for exceptional longer term performance due to their relative housing affordability combined with solid loca...

Analysis of residential properties going under contract (contingent) during week of 11/29/19-12/5/19. Charleston, SC Metro Area

206 residential properties went under contract past week. Slower than average (Thanksgiving hangover?). 

1. 145 single family homes went under contract this past week. Median LIST price $299k,$155/sqft. 1 under $100k. 7 over $1M, 3 of
   those over $2M. Median 41 CDOM. Median Year Built 2000.
   • 1% were BANK OWNED FORECLOSURES or SHORT SALES. Another 7% were NEW CONSTRUCTION.
   • 20 island single family homes went under contract this past week.
     • 11 James Island single family homes under contract past week LISTED from $275k-$2.5M. 2 over $400k. Median
       $350k,$226/sqft...

The holiday season is finally upon us! There is something to do for everyone on your list, whether it’s taking the kids to see Santa, attending any number of performances, New Year’s Eve celebrations with your special someone, and so much more! It is the season of giving so give your loved ones a month to remember and check out as many activities and shows as you can! Here is your December 2019 calendar of events:

1: Christmas Tree Lighting, Marion Square, Downtown Charleston 
1: City of Charleston Christmas Parade, Downtown Charleston
1: Annual Christmas Parade & Tree Lighting, Market Pavillion in Moncks Corner 
1-23: Miss South Carolina USA & Miss South Carolina Teen USA 2020, North Charl...

Academic Magnet Recognized as a Top STEM School 

Academic Magnet High School is no stranger to receiving national awards for the amazing work their staff and students do. Recently, Newsweek recognized Academic Magnet as being one of the top 5,000 STEM high schools from around the country, ranking it at number 29 overall.

It is no surprise that Academic Magnet has being recognized with an award like this due to that fact that their school offers rigorous courses in math, engineering, and computer programming.

The list of all 5,000 schools was created by Newsweek collaborating with STEM.org to rank America's best STEM high schools by looking back at qualitative as well as quantitative ...

Our real estate services fully complement the Probate Attorney's. In this 2nd of 3-episode series Probate and Elder Law Attorney Michael Sgobbo talks about remuneration for Personal Representatives and the functions that a real estate can perform for an estate that are outside of the functions for a probate attorney. 

Our team helps Personal Representatives or Executors determine the best property disposal strategies and offer a team of "allied resources" - service providers relating to real estate or complementary services that a Personal Representative may need to help perform their functions.

Whether they choose to have a quick, cash sale, and "as-is" sale or wish to clean and impr...

The Charleston, SC residential real estate market continues strong, albeit with some weaknesses in specific areas.

Number of Transactions

Overall, sales are up 0.3% in terms of number of transactions over the same 2018 period. Depending on how the rest of the year goes, we could beat the 2017 record.

The following MLS areas are significantly up in number of transactions over the same 2018 period:

• 22 Folly Beach to Battery Island
• 31 North Charleston Inside I-526
• 32 North Charleston/Summerville Outside I-526
• 41 Mt Pleasant N of IOP Connector
• 52 Peninsula Charleston Outside of Crosstown
• 74 Jedburg Rd-Black Tom-Hwy 17A-Col Pk
• 75 Cross/St. Stephens/Bonneau
• 78 Wando/Cainhoy

The ...

By WARREN L. WISE - POST & COURIER
wwise@postandcourier.com

23 new apartment projects on the rise in Charleston area
Developers continue to flock to the booming Charleston market to build new rental housing as 23 new communities are under construction, according to a new report.

The number of proposed units increased over the past six months through September to 6,030, with most of them in Mount Pleasant and Charleston's upper peninsula, Charlotte-based apartment service Real Data reported.

Several others are under construction across the region in almost every suburb.

Demand still remains strong as apartment occupancy jumped nearly 2 percent in the region to 91.2 percent over the past ...

Would you like an offer on your home?

You can skip the headaches and hassles of a traditional sale!

There is a record amount of capital waiting for a place to be invested. Companies and individual investors are ready to make a very competitive offer on your home.

They buy it, turn it around, fix it and sell it in 30-90 days to the public for a small profit. 

You get convenience and speed in return.

This means:

• Close quickly, get the equity from your home in as little as 7 days
• You pick your closing date
• No showings or open houses
• No negotiating with buyers
• Skip the cost, time and effort getting your home "market ready" and showing like a model home
• Get the freedom to ...

Home buying activity (demand) is up, and the number of available listings (supply) is down. When demand outpaces supply, prices appreciate. That’s why firms are beginning to increase their projections for home price appreciation going forward. As an example, CoreLogic increased their 12-month projection for home values from 4.5% to 5.6% over the last few months.

The reacceleration of home values will cause some to again voice concerns about affordability. Just last week, however, First American came out with a data analysis that explains how price is not the only market factor that impacts affordability. They studied prices, mortgage rates, and wages from January through August of this...

Daylight Saving Time ends this Sunday, November 3rd so don't forget to turn your clocks back an hour. If it helps, think "Spring Forward, Fall Back". Veterans Day is on the 11th and Thanksgiving will be celebrated later in the month on the 28th! The weather continues to be mild so try to get out and enjoy some of the many events scheduled for the Charleston area this month including Turkey Trots and a variety of shows.

Here is Your November 2019 Calendar of Events:

1: 15th Annual Friends of the Hunley Oyster Roast, Visitors Center Bus Shed, downtown Charleston
1: Cosmic Charlie's Dark Side of the Dead, Charleston Music Hall, downtown Charleston 
1: Chanticleer, Gaillard Center, downtown C...

Charleston is the Number 1 Moving Destination According to Realtor.com 

Realtor.com just completed an analysis of "Top Moving Destinations" and found that many people from the Charlotte, Atlanta, and New York areas are flocking to the Lowcountry. This analysis was based on which metro areas received the most out-of-state views from April through June 2019 on the Realtor.com website. The study revealed that most people were looking to move to a place with a medium-size population, where the housing is relatively affordable and where plenty of job opportunities are available. Although Charleston is not considered highly affordable, home prices here seem like a "bargain" compared to where t...

Home prices have been on the rise for the last seven years, leading many housing market analysts to conclude that first-time homebuyers are being shut out of the market due to affordability concerns.

The National Association of Realtors (NAR) reports on the percentage of First-Time Home Buyers (FTHB) on a monthly and yearly basis. Their latest report shows that FTHB’s made up 33% of buyers in March, which matches their reported share in 2018.

NAR uses survey data from their members to come up with this statistic, so their results do not include every transaction completed. Rather, they only show the transactions reported by members who complete the survey.

The other entity that reports...

How Much Do You Know About Down Payments?

Whether you’ve owned a home before, or you’re ready to jump into homeownership for the first time, there are always a lot of questions swirling around about what is truly required for a down payment, and how to best source down payment assistance. Let’s tackle these two today.

1. How much do you really need for a down payment?
There is a long-standing misconception about down payment requirements. A survey from Fannie Mae shows only 17% of consumers know the minimum options are actually between 1 - 5% of the purchase price and 40% don’t know how much they need at all.

There are many mortgage loans available that require as little as 3% down fo...

What "Bigbelly Bins" in Charleston Mean for the City!

Have you noticed the new trash cans downtown? Before Hurricane Dorian made its appearance in early September, the City placed 100 new solar-powered trash cans around downtown, and more will be placed in West Ashley and the East Side soon. These new "Bigbelly Bins" are projected to save the City $200,000 a year. There has already been a noticeable difference for the sanitation workers who no longer have to conduct routine trash checks and can instead focus more time on street sweeping. These cans are designed so that once trash is thrown into them, they compact the items to allow more trash to be accumulated than can be by "air-exposed...

October has arrived and, after a close call with Hurricane Dorian last month, the fall weather is in our near future along with many outdoor activities such as Fall Festivals, Music Performances in the Park and Halloween on the 31st! Here is our October 2019 calendar of events:

9/26-10/6: MOJA Arts Festival, various locations 
1: Toni Morrison: The Pieces I am Film Screening, Charleston Music Hall, downtown Charleston
1-31: Boone Hall Pumpkin Patch, Boone Hall Plantation, Mount Pleasant 
2: Drew Holcomb and the Neighbors: Dragons Tour, Charleston Music Hall
3: Keepin' Jazz Alive, Charleston Music Hall
3, 10, 17, 24: Live Under the Oaks Concert Series, Mount Pleasant Towne Centre
4: George Thor...

Will Your Remodel Pay Off? The Best (and Worst) Ways to Spend Your Budget

Most new homeowners have something about their property that they want to change. And as family needs and design trends shift over time, many will eventually choose to remodel. Some homeowners make updates to their property before listing it to maximize their potential sales revenue. Whatever your reasons are for taking on a home improvement project, it’s wise to consider how the money you invest will impact your home’s value. We’ve taken a look at six popular home renovations and identified those that—on average—have the best and worst returns on investment. So before you lift a hammer or hire a contractor, take ...