Posts by : Alan Donald

Charleston continues to impress!  This month, we share good news on endangered sea turtles, education, air services, recreation and conservation. We also reveal which long-awaited development project officially broke ground on the last day of February. Eager to learn more about any of the topics covered? Just follow the links where you see bold blue font.

In February, five endangered Kemp’s ridley sea turtles rehabilitated by the SC Aquarium were released at sea with assistance from the US Coast Guard. Kemp’s ridleys are the world’s rarest and most endangered sea turtle species and these five - named Chia, Beignet, Griddle, Home Fry and Loaf - were part of the aquarium’s largest annual i...

The latest S&P CoreLogic Case-Shiller Home Price Index is out, and while headlines highlight a 3.9% annual gain, the real story is that home prices are continuing to cool down.

Here’s what the data shows:

Case-Shiller U.S. National Composite Index:

+3.9% year-over-year
-0.15% month-over-month decline
-0.48% over the last 3 months

20-City Composite Index:

+4.5% year-over-year
-0.13% month-over-month decline
-0.45% over the last 3 months

10-City Composite Index:

+4.9% year-over-year
-0.04% month-over-month decline
-0.12% over the last 3 months

The bottom line? While prices remain higher than last year, the month-to-month and quarterly declines point to a continuing cooling trend.

W...

PCS Season Prep Guide: Tips for a Smooth Summer Move

With peak PCS season approaching for active military, now is the time to start preparing for a stress-free move.

Whether it's your first PCS or you're a seasoned pro, early planning makes all the difference.

And remember, if you are being deployed and need a LOCAL real estate agent who's experienced in the area and familiar with military moves, please let us know, we'd be happy to find you someone from our wide network! Contact us on 843-900-0155. 

Early Planning Tips

• Check on Your Orders – Follow up if you haven't received them.
• Declutter in Stages – Tackle one room per week.
• Research Finances – Look up BAH rates and cost of...

We’re thrilled to share more positive news about the Charleston area this month, with much of it related to our food and beverage (F&B) and hospitality sectors, conservation and open space, and public infrastructure, along with an announcement of a new “far out” attraction coming to town! To learn more about any of the items covered, please follow the links provided where you see bold blue font.

Our local F&B and hospitality sectors continue to impress! Two such businesses recently became semifinalists for 2025 James Beard Foundation awards: Chubby Fish by Chef James London for Outstanding Restaurant and Femi Oyediran and Miles White of Graft Wine Shop for Outstanding Professional in B...

#RealEstateTips
#HomeBuying2024
#TaxSeasonPrep
#SettlementStatement
#HomeSelling2024

With price volatility in some of the major urban markets in the U.S., many residential real estate buyers and investors want to know what the home price forecast is for our Charleston, SC area.

So, here is the historical data and my own guesstimate:

The graph above shows the actual numbers and the compounded growth trend line, showing a 4.6% compounded growth rate per year since 1991.

In the next few years our market will probably return back towards the trend line, so median price appreciation is likely to decelerate.

Last year the annualized median home price in the Charleston, SC area grew by 4.1% year-over-year (see graph below):

Even though mortgage rates are predicted t...

There’s one big mistake you need to avoid when you sell your house this year: setting your price too high. It might seem like overpricing gives you room to negotiate or could really boost your profit, but the reality is, it usually backfires.

In fact, Realtor.com says almost 20% of sellers — that’s one in five — have to reduce their price to get their house sold. And you don’t want to be one of them. Here’s why starting too high can lead to trouble, and how to avoid it.

Overpricing Pushes Buyers Away

With mortgage rates and home prices where they are right now, buyers are already stretching their budgets to make a move. So, when they see a house that’s priced too high, they’re not th...

We are happy to begin our 2025 Charleston in the News blog reporting that the Charleston economy continues to grow and diversify, with expansions and newcomers across several sectors and the region. This month, we highlight some of those in the aviation, education and medicine, entertainment and services, manufacturing and senior housing sectors. 

In the areas of education and medicine, the Medical University of South Carolina (MUSC) has broken ground for the construction of a dedicated College of Medicine building to serve its students, faculty and staff. At a cost of $175 million, the 186,000 sq ft building at the corner of Bee and President Streets is targeted to open in summer 2027...

Not only is December full of special events and activities centered largely around the holidays, but the Charleston area also has a lot going on in terms of news! Here’s a quick overview of what we’ve recently come across. Be sure to follow the links provided where you see bold blue underlined text to find out more about the items of most interest to you.

We also want to take this opportunity to wish you and yours a happy holiday season and to share this gift from the City of Charleston: a Holiday Parking Voucher for two hours of free parking downtown until December 31st. Find out which garages are participating and get your mobile and printable vouchers here.

Now for the news related t...

Over the past few years, some homeowners have decided to delay their move because they don’t want to sell and take on a higher mortgage rate on their next home. Maybe you’re thinking the same thing. And honestly, that’s no surprise. It’s a very common roadblock and is one of the biggest factors that’s kept the number of homes on the market so low for so long.

But a growing number of homeowners are deciding they just can’t wait any longer. Often, it’s because of personal or lifestyle change. As Redfin explains:

“Some homeowners are opting to bite the bullet and give up their low rate in order to move. Many are selling because a major life event like a job change, or divorce . . .”

If ...

If your goal is to sell your house in 2025, now’s the time to start prepping. Even though it might seem like there’s plenty of time between now and the new year, you should get a head start on any updates or repairs you want to make now. As Danielle Hale, Chief Economist at Realtor.com, says:

“ . . . now is the time to start thinking about what you need for your next home and then taking those steps to prepare to list . . . We have survey data that says 47 percent of sellers are taking longer than a month to get their home ready to sell, so getting them to start that process early can mean more flexibility.”

By starting your prep work early, you’ll give yourself plenty of time to get ...

This month, we bring you news about a number of historic preservation, restoration, renovation and related heritage tourism efforts underway around the Charleston Lowcountry, as well as about the development of two new data centers for Google, a large graphite production facility and a major climate-controlled logistics center in the area.

Follow the links provided to find out more.

The National Parks Service is providing grants to help fund two area projects: the stabilization and repair of the Cathedral of St. Luke and St. Paul, one of the oldest churches in downtown Charleston, and the restoration of a powder magazine and two cisterns at Fort Johnson, as part of the College of Char...

When it’s time to buy or sell a home, one of the most important decisions you’ll make is who you’ll work with as your agent. That choice will have an impact on your entire experience and how smoothly it goes.

As you figure out who you’ll partner with, it’s important to know what to expect and what to look for. Unfortunately, there may be some myths holding you back from making the best decision possible. So, let’s take some time to address those, and make sure you have the information you need to find the right agent for you.

Myth #1: All Real Estate Agents Are the Same

You might think all agents are the same – so it doesn’t matter who you work with. But, in reality, agents have vary...

Even though affordability is improving, buying a home can still feel tough right now. But here’s some good news: builders are focusing their efforts on building smaller homes, and they’re offering key incentives to buyers. And both of these things can be a big help if you're worried about finding a home that’s right for your budget. 

Builders Are Building Smaller Homes 

During the pandemic, homebuyers were looking for larger homes—and many could afford them. Builders responded to that demand and created bigger spaces to help people with things like working from home, setting up home gyms, and having extra rooms for virtual school.

Now, with affordability as tight as it is, builders a...

Even though affordability is improving, buying a home can still feel tough right now. But here’s some good news: builders are focusing their efforts on building smaller homes, and they’re offering key incentives to buyers. And both of these things can be a big help if you're worried about finding a home that’s right for your budget. 

Builders Are Building Smaller Homes 

During the pandemic, homebuyers were looking for larger homes—and many could afford them. Builders responded to that demand and created bigger spaces to help people with things like working from home, setting up home gyms, and having extra rooms for virtual school.

Now, with affordability as tight as it is, builders a...

This month, we reveal the athletes with ties to the Lowcountry who medaled in the 2024 Paris Olympics, as well as inform you about some newcomers to the Charleston area, property purchases, expansions and renovations, and mobility improvement efforts that include "pedestrian scrambles" (our new favorite word!). You can click on the links provided where you see bold blue font to learn more about the topics of most interest to you.

In last month’s News Blog, we named some athletes with roots or ties to the Lowcountry who were participating in the 2024 Paris Olympics. We’re happy to report that three have earned medals: Jasmine Camacho-Quinn, a Fort Dorchester High School graduate, won Br...

In today's housing market, many sellers are making a critical mistake: overpricing their houses. This common error can lead to a home sitting on the market for a long time without any offers. And when that happens, the homeowner may have to drop their asking price to try to re-ignite buyer interest.

Data from Realtor.com shows the number of homeowners realizing this mistake and doing a price reduction is climbing (see graph below):

If you’re thinking about making a move yourself, here’s what you need to know. The best way to avoid making a costly mistake is to work with a trusted real estate agent to find the right price. Here’s a look at what’s at stake if you don’t.

Not Payin...

Over the past couple of years, a lot of people have had a hard time buying a home. And while affordability is still tight, there are signs it's getting a little better and might keep improving throughout the rest of the year. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:

“Housing affordability is improving ever so modestly, but it is moving in the right direction.”

Here’s a look at the latest data on the three biggest factors affecting home affordability: mortgage rates, home prices, and wages. 

1. Mortgage Rates

Mortgage rates have been volatile this year, bouncing around from the mid-6% to low 7% range. But there's some good news. Data from Fre...

In recent years, there’s been a significant shift in how wealth is distributed among generations. It’s called the Great Wealth Transfer.

Historically, the transfer of wealth from one generation to the next was a more gradual process, often limited to smaller amounts of inheritance or family savings. But today, the scale has increased in a big way. As a recent article from Bankrate says:

“The biggest wave of wealth in history is about to pass from Baby Boomers over the next 20 years, and it’s going to have major impacts on many facets of life. Called The Great Wealth Transfer, $84 trillion is poised to move from older Americans to Gen X and Millennials. If it’s managed smartly, Americ...