Carolina’s Rigging & Crane and Charleston’s Rigging & Marine Hardware expanding presence in two S.C. Counties
January 12, 2018

Lowcountry Biz SC writes Carolina’s Rigging & Crane and Charleston’s Rigging & Marine Hardware, manufacturers and suppliers of wire rope, rigging and safety solutions for a wide range of industries, are expanding operations in Charleston and Richland Counties. The joint investment of $3.4 million is expected to create 35 new jobs.

Carolina’s Rigging & Crane and Charleston’s Rigging & Marine Hardware supplies and services manufacturers, construction, maritime and energy and transportation companies who utilize wire rope, web slings, tie downs, chain and hoist prod...

As the very cold and snowy month of January is put behind us, February is looking up with great activities! With the SE Wildlife Expo in town, continuing Oyster Roasts, and the start of the Charleston Wine+Food Festival, we are looking forward to a month full of fun events and better weather. Here is your February calendar of events...

1: Night at the Brewseum, Children’s Museum of the Lowcountry
2: Good Catch Oysterfest, SC Aquarium
3: Groundhog Day Movie, Chas Music Hall
3: 18th Annual Downs Byrd Memorial Paws and Pearls Oyster Roast,Summerville Country Club

3: 7th Annual Shuck-a-Rama for the Brain Injury Assoc of SC, Runnymede Plantation
3: Shuckin’ for Shelter Oyster Roast, Oakley Far...

Annual Real Estate Market Update Charleston, SC - 2017 in Review

By Alan Donald, Broker Associate
Keller Williams Realty, Mount Pleasant, SC
January, 2018

2017 Highlights

2017 was a record-setting year for the Charleston Area market. 18,397 properties changed hands during the year, making it the busiest year on record and beating the previous record established in 2005. Our market, similarly to the national market, has a housing inventory shortage. Sellers still hold the advantage in most sub-markets.

Our area economic indicators such as unemp...

Definitely an aggressive headline. However, as the final data on the 2017 housing market rolls in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME!

How did we finish 2017?
New-home sales were at their highest level in a decade.
Sales of previously owned homes were at their highest level in more than a decade.
Starts of single-family homes were their strongest in a decade and applications to build such properties advanced to the fastest pace since August 2007.

Bloomberg Business just reported:

“America’s housing market is gearing up for a robust year ahead. Builders are more optimistic, demand is strong and lean inventory is keeping prices el...

COMING SOON! 55+ Residential Community in Mount Pleasant! If you love the beaches and Downtown Historic Charleston, this project will offer a LIMITED AMOUNT (~30) of NEW one-story homes in a 55+ gated community, priced from the $400K's.

To register your interest and get first dibs at these homes, please fill out this form: http://vid.us/mka6t1 or call us at 843-900-0155. 

These will sell fast!

LowcountryBizSC reports that the 2018 Charleston Boat Show, scheduled for January 26-28 at the Charleston Area Convention Center, has set a new record in space booking. 

"Each year the Charleston Boat Show attracts between 10,000-11,000 people. There will be 125 exhibiting companies at the show this year, with 35 boat dealerships represented. There will be more than 85 different boat brands on-site.

The show is known for family fun as well as educational seminars, including the Coastal Fishing Expo, sponsored by Coastal Carolina Fisherman. This year’s schedule includes lots of fishing classes by the best captains, kids’ activities like face-painting, SCDNR Boating Simulator, Turtle Putt...

Tax Reform & Housing: A Reference Guide
 

Disclaimer: This guide is not meant to be a resource for tax advice but instead a resource for basic information concerning only certain aspects of the new tax code and how they may impact the real estate market. You should get tax advice from your accountant or tax preparer who will explain how the entire tax code will affect your personal return. 

This information became useful immediately after the new tax code became law. Some of the information may be revised as the analysis of the new law evolves.

When the tax code was originally being overhauled by the House and the Senate, there were three major proposals being considered that would h...

MUSC approves new 128-bed, $325 million hospital project to move forward

After 30 seconds of discussion during a Board of Trustees meeting Friday morning, the Medical University of South Carolina agreed to move forward with plans to build a new $325 million hospital somewhere in the tri-county area.

Hospital leaders have not been specific about where it might be built, but if approved, it would rival the cost of the new MUSC Shawn Jenkins Children's Hospital. 

No board members asked questions or commented on the 128-bed project before unanimously agreeing to move forward Friday.

The board's approval is a preliminary step that allows MUSC staff to apply for a Certificate of Need, whi...

There is no better way to celebrate the start of the new year than with events around this great city. This month features some fun activities, but it is packed with the very best food events including everyone's favorite, Charleston Restaurant Week! 

With the new year in tow, take the opportunity to explore parts of the city you've always wanted to or at least start with events that are coming up this month. Here is your January calendar of events:

1: Bill Murray Look-a-Like Polar Bear Plunge, Folly Beach

1: Dunleavy’s Pub Polar Bear Plunge, Sullivan’s Island

4: Travis Tritt, Chas Music Hall

5: Henry Rollins, Chas Music Hall

5,6: Charleston Symphony Orchestra’s(CSO) Brahms’ Symphon...

CHARLESTON, SC—(December 13, 2017) According to preliminary data released today by the Charleston Trident Association of Realtors® (CTAR) 1,356 homes sold in November in the region at a median price of $252,733. Last November, 1,267 homes sold at a median price of $242,920.

The year-to-date pace of growth in sales and median price in the region stayed constant through November, tracking 3% growth in sales for the year and 4% growth in median price. 16,832 homes have sold in the region at a median price of $250,000 thus far in 2017.  At this time last year, 16,302 homes had sold at a median price of $240,000.

“We are in a position to finish this year on a path of sustainable growth for t...

If you are a VERY EXPERIENCED home seller, a former Realtor or an attorney, you may consider selling your home by owner. Most people who decide to sell by owner do so because they think they will net more money by saving the listing agent's commission. And in a hot "sellers' market" like we have right now,the odds are that they will sell their home. 

What many FSBOs don't realize, is that by giving their home less market exposure than what an experienced, professional Realtor can give, sellers may not be getting the highest market price and may be leaving money on the table, even after paying a listing commission. And doing everything themselves, plus exposing themselves to safety and li...

There are many benefits to homeownership. One of the top benefits is protecting yourself from rising rents, by locking in your housing cost for the life of your mortgage.

Don’t Become Trapped 
A recent article by Apartment List addressed rising rents by stating:

“Rents are up 2.7% year-over-year at the national level. Year-over-year growth continues to fall between the 2.1% rate from this time last year and the 3.4% growth rate from October 2015.”
The article continues explaining that:

“Despite the seasonal slowdown, rents are still up year-over-year in 89 of the 100 Largest cities.
Additionally, the Urban Institute revealed that,

“Over a quarter of renters, or 11.1 million households,...

What is the Cost of Waiting Until Next Year to Buy a Home?

Over the course of the last 12 months, on average home prices have appreciated by 7.0% in the U.S. Over the same amount of time, interest rates have remained historically low which has allowed many buyers to enter the market.

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...

New Lot Releases on Daniel island

There will be a couple of lot releases on Daniel Island in 2018. 

There will be 4 lots released on Captain's Island in January, two deep water lots with private dock permits and 2 marshfront lots on Ralston Creek.

In Daniel Island Park, there will also be a release in the Ralston Grove section (probably in February), of approximately 25-30 homesites, about half of which are interior lots and 16 with beautiful marsh views.
In addition to homesites, several builders are building "spec homes" in this neighborhood, if you are interested call us on 843-900-0155, we can provide those details.

On the South end in Edgefield and Smythe Park, homesites will be r...

International Space Station flies over Charleston skies

Charleston's Upper Peninsula: Red Hot Area!

The Upper Peninsula Area (Area 52 in the MLS, which includes neighborhoods like East Side, West Side, North Central, Wagener Terrace, Longrove, Hampton Park) is one of the areas where property prices have increased rapidly, above the average for the Charleston Area. The graph below (click to enlarge) shows the Median Price for Area 52 compared with the whole Charleston Metro Area. The median price for a home in this area has gone up from $188K in 2007 to $435K today. The most expensive active listing at this time is the $1.79M deep waterfront home at 9 Lowndes Pointe Dr. that comes with a gorgeous pool (shown in the picture). 

The exceptiona...

The Holiday Spirit has arrived to the Holy City!

December is officially here and that means hot chocolate, Christmas sweaters, and holiday lights everywhere. With the Holiday Spirit touching almost all parts of this city, December will keep you busy. Ranging from parades and tree lightings to music performances and celebratory parties, you are sure to find something for everyone. Take a look at some of the most popular events...

1: Colonial Lake Tree Lighting

1: Charleston Galleries Art Walk, downtown

1: Gaither Christmas Homecoming, N Chas Coliseum

1: N Chas Christmas Festival and Tree Lighting, Park Circle

2: N Chas Christmas Parade

2: IOP Christmas Street Festival, Front Beach...

Good News in Education

Five SC schools received Blue Ribbon status this year, and two are here in the Lowcountry.

Buist Academy for Advanced Studies and Palmetto Scholars Academy were recognized.

The College of Charleston is not only the most beautiful campus in the US (as recognized by T+L) but has another great ranking. Best Computer Science Schools Digital ranked the Top 35 Best Schools for Big Data Degrees in 2017. CofC ranked #5!! 

The Department of Computer Science at the College of Charleston has opened a new facility for computer science students at the college’s Harbor Walk campus in the Aquarium Wharf area.

The Computer Science Innovation Center includes a rapid prototypi...

The Real Estate Market (in General)

Our real estate market continues to perform well. Year to date, we are up 3.3% over the same period from 2016 in number of transactions. In 2017 we may possibly sell over 18,000 homes for the first time in history! A few MLS areas are actually down in sales numbers simply due to lack of inventory, no one wants to leave!!

Year to date, we are up 4.1% in median sales price over the same period from 2016. Median sales price is now around $254,000. There are a few specific MLS areas, like James Island, where the median sales price is up over 10% over 2016 prices.

New construction abounds all over the Tri-county area. Johns Island, Summerville and Goose...