HOW TO MAXIMIZE YOUR CASH AND MINIMIZE YOUR STRESS WHEN SELLING YOUR HOME

Top 5 Success Tips for Sellers

In the higher price points of the Charleston SC Metro Area, such as Daniel Island and Mount Pleasant, we have seen the start of a market shift - I would describe the market as still going with the foot on the gas, but with the handbrake on. Buyers have LESS URGENCY and are a LOT PICKIER than when the market was very hot 2 years ago.

Given the availability of new homes (6 out of every 10 buyers in Mount Pleasant North of IOP Connector buy new construction) most buyers are comparing pre-owned homes with NEW CONSTRUCTION homes. 

Sellers can control only their home PRICE, its CONDITI...

As more and more baby boomers enter retirement age, the question of whether they should sell their homes and move has become a hot topic. In today’s housing market climate, with low available inventory in the starter and trade-up home categories, it makes sense to evaluate your home’s ability to adapt to your needs in retirement.

According to the National Association of Exclusive Buyers Agents (NAEBA), there are 7 factors that you should consider when choosing your retirement home.

1. Affordability
“It may be easy enough to purchase your home today but think long-term about your monthly costs. Account for property taxes, insurance, HOA fees, utilities – all the things that will be due w...

Spring is here and there are lots of outdoor events and activities this April. The week-long Volvo Car Open tennis tournament on Daniel Island kicks off the month and concludes on the same weekend as the Cooper River Bridge Run and Summerville's Flowertime Festival.  The month wraps up with Mt. Pleasant's 32nd Blessing of the Fleet & Seafood Festival.  In between, there are a host of other exhibits, expos, fairs, festivals, galas, performances, shows, sporting events, and tournaments both inside and out, not to mention Easter, Passover and Earth Day services and celebrations.  So get out there and have some fun!

Here is your April 2019 calendar of events:

1: Indiana Jones: The Last Crus...

Area farmers markets are getting back into full swing again!  We are fortunate to have so many from which to choose!  Here are some of our more popular seasonal and year-round farmers markets (with links) and their 2019 schedules:

Charleston Farmers Market 
Marion Square, 329 Meeting St.
Saturdays, April 13 – November 30, 8am – 2pm

Folly Beach Farmers Market
Folly River Park, Center St., Mondays, 4pm – 8pm
& Joe Richardson Park, Saturdays, 11am – 4pm

Hanahan Family Farmers Market
Reservoir Hall, 1601 Eagle Landing Blvd.
Thursdays, 3pm – 7pm

Isle of Palms Farmers Market
Isle of Palms County Park, 1 14th Ave.
Thursdays, September – October, 3pm – 7pm

James Island Farmers Market (Sunday Brunc...

The spring housing market is off to the races! The inventory of homes for sale is increasing, buyers are out in force, and interest rates have remained low, peaking the interest of buyers and sellers previously on the fence about making a move.

New research from realtor.com shows that the first week of April is actually the best time to list your house for sale! The report used “trends in median listing prices, views per property on realtor.com, home price drops, median days on market, and number of listings on the market over the last three years,” to determine a ranking for every week of the year.

Listing your home in the first week of April contributes 14x more property views, 5% les...

A friend of mine sent me this article from the Wall Street Journal that I found very interesting and right on the money!

A Growing Problem in Real Estate: Too Many Too Big Houses

Baby boomers and retirees built large, elaborate dream homes across the Sunbelt—only to find that few people want to buy them.

Large, high-end homes across the Sunbelt are sitting on the market, enduring deep price cuts to sell.

That is a far different picture than 15 years ago, when retirees were rushing to build elaborate, five or six-bedroom houses in warm climates, fueled in part by the easy credit of the real estate boom. Many baby boomers poured millions into these spacious homes, planning to live o...

Is Your House Priced To Sell Immediately (PTSI)?

In today’s real estate market, with more houses coming to market every day and eager buyers searching for their dream home, setting the right price for your house is one of the most important things you can do.

According to CoreLogic’s latest Home Price Index, home values have risen at over 6% a year over the past two years, but have started to slow to 4.4% over the last 12 months. By this time next year, CoreLogic predicts that home values will be 4.6% higher.

With prices slowing from their previous pace, homeowners must realize that pricing their homes a little OVER market value to leave room for negotiation will actually dramatically ...

One of the biggest challenges sellers face when listing their house is decluttering. Cleaning out some of the more personal decorating choices allows buyers to imagine themselves living in the house.

Those planning to sell soon are in luck! Marie Kondo, the inventor of the KonMari Method of Tidying Up, has gained popularity with her new Netflix series. She gives some great tips for sorting through years of accumulated possessions that we all collect in our homes.

“The KonMari Method™ encourages tidying by category – not by location – beginning with clothes, then moving on to books, papers, komono (miscellaneous items), and, finally, sentimental items. Keep only those things that speak t...

We just got 757 Chatter Rd. in Wakendaw Lakes Under Contract!

This is the perfect time of the year to place YOUR home on the market, and get TOP MARKET PRICE if you have a SOLID MARKETING PLAN (look at our 99-Step Plan).

Contact us on 843-900-0155 to get started. 

Current Home Buyer Dilemma: Should I wait until home prices soften, or should I buy now when interest rates are low?

This is an age-old question and there is no "standard answer", since the answer depends on the potential buyer's risk tolerance. From an AFFORDABILITY perspective, any movement in mortgage interest rates will be much more significant to the buyer's bottom line than any movement in home prices. 

Home purchasing affordability depends on 2 main elements: Home Prices and Mortgage Interest Rates: The likelihood of a "negative market correction" on home prices in the Charleston Area for the next 3 years is 3%-5%. The likelihood of mortgage interest rate hike for the next 3 year...

March is here and it appears that spring has sprung!  With it comes an eventful month that includes the Food + Wine Festival, home and garden tours and St. Patrick’s Day celebrations, not to mention great sports and entertainment events across area venues. Enjoy!

1: Aaron Lewis: The State I'm In Tour, Charleston Music Hall, downtown Charleston
1: Old Dominion: Make It Sweet Tour, North Charleston Coliseum
1: Charleston Gallery Association Artwalk, downtown Charleston
1-2: CSO's Romeo & Juliet with Violinist Robyn Bollinger, Charleston Gaillard Center, downtown Charleston
1-2: Southbound: Photographs of and about the New South, Halsey Institute of Contemporary Art, downtown Charleston
1-15: Ca...

Strong Growth Projected for Charleston in the 2019 Economic Forecast

Last month, the Charleston Metro Chamber presented the 2019 Economic Forecast at their 28th Annual Economic Outlook Conference.  On the positive front, highlights included continued economic expansion, ongoing growth in jobs and a strong continued military presence.  However, it also recognized the housing attainability crisis the region is facing.  Read more here ...

USS Charleston Latest to Join US Naval Fleet

A ceremony was held on March 2nd at the South Carolina Ports Authority Columbus Street Terminal to commission the USS Charleston, the US Navy's latest vessel to join its reinvigorated fleet.  The USS Charlesto...

Carolina Park Elementary Rated "Excellent" (A+) by SC State Department of Education

Carolina Park Elementary is a beautiful new school with great leadership, excellent staff, leading-edge learning tools and state-of-the-art technology.

When all of those things come together they create a powerful learning environment. In just its second year of existence, Carolina Park Elementary has been rated one of South Carolina's "Top 20 Elementary Schools" (tied for 14th), placing it in the top 2% of schools statewide.

In addition to a high rating, the school is within easy walking or biking distance for students who live in Carolina Park. Another winner for Charleston County School District and ...

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  With home prices softening, some are concerned that we may be headed toward the next housing crash. However, it is important to remember that today’s market is quite different than the bubble market of twelve years ago.

Here are three key metrics that will explain why:

• Home Prices
• Mortgage Standards
• Foreclosure Rates

HOME PRICES
A decade ago, home prices depreciated dramatically, losing about 29% of their value over a four-year period (2008-2011). Today, prices are not depreciating. The level of appreciation is just decelerating.

Home values are no longer appreciating annually at a rate of 6-7%. However, they have still increased by more than 4% over the last year. Of the 10...

You can keep your home in top shape with simple tasks throughout the year. This month, be sure to:

1. Clean the vent duct for your clothes dryer. Fires created by clogged dryer vents are one of the most common causes of house fires.
2. Test your smoke detectors and carbon monoxide alarms.
3. Make sure you and your family members know the location of all gas / electrical/ water shut-off valves.
4. Examine your thermostat. Clean the heat sensor, contact points, and contacts; check your thermometer's accuracy and replace if necessary.
5. Pull out your refrigerator and clean behind the unit. Be sure to clean off the coils.
6. Replace or clean forced heat and A/C filters.
7. Check your fire extinguisher...

Analysis of residential properties that went under contract (Active Contingent) in the Charleston, SC area during the week of 2/1/19 to 2/7/19

• 328 residential properties were placed under contract past week. Very strong for this time of the year.
• 265 single family detached homes under contract past wk. Median LIST price $279k,$147/sqft. 4 under $100k. 9 over $1M, 2 of those over $2M. Median 22 CDOM. Median Yr Blt 1998, 9(3%) were BANK OWNED FORECLOSURES or SHORT SALES. Another 12% NEW CONSTRUCTION. 3 of 5 short sales in areas 31/32, 61-76
• 47 island single family homes under contract past wk. James-18, Folly-4($595k,$599k,$819k,$1.5M), Johns-12, Wadmalaw-1 ($599k), Edisto-2 ($190k...

February is here and SEWE - the Southeastern Wildlife Expo - is back!  Plus don't forget Valentine's Day on the 14th!  It's also a great month for oyster roasts and Mardi Gras celebrations, not to mention some great music and other entertainment across town.  See for yourself on our February 2019 Calendar of Events:

1: A Tribute to Edna Lewis Dinner, Middleton Place, West Ashley
1: Black History Hall of Fame, North Charleston Performing Arts Center
1: Oysterfest, SC Aquarium, Downtown Charleston
1: 15th Annual Charleston RiverDogs Hot Stove Banquet, Gaillard Center, Downtown Charleston
1-2: True West and Fool for Love, Cannon Street Arts Center, Downtown Charleston
1-2: Charleston Symphony Orch...

Charleston's Regional Economy Ranked 16th Best in Nation

The Milken Institute, a think tank based in Santa Monica, California, has ranked the Charleston-North Charleston area economy 16th among the nation’s 200 largest metro areas in 2018, up from 22nd in 2017, and considers our area to be less vulnerable to a potential national downturn.  Leading factors cited include our diverse economic base, cargo growth at the port, over $1.6 billion in auto-related manufacturing investment, growth in the high-tech sector, strong population and income growth, and well-established infrastructure.  The main liability it identifies is the U.S.-China trade war which could be detrimental to our export-...

Charleston, SC Residential Real Estate - What Happened in 2018?

Overall, 2018 was the second busiest year ever for Charleston in terms of number of residential real estate transactions. As shown in the summary chart (click on it for a larger display), a total of 17,483 transactions were recorded on the MLS in 2018.  This level was just 1.9% shy of the record level of 17,825 established in 2017. 

Median Sales Price

The Median Sales Price increased 6.4% from $255,565 in 2017 to an all-time high of $272,000 for 2018 (see table). The first graph below shows the Median Sales Price (12-month average) since 2004.  Note that the prices do not match between the chart and the graph because the...

The Internal Revenue Service has issued final rules on the 20 percent business income deduction (Sec. 199A of the Tax Code) that was enacted in late 2017 as part of the Tax Cuts and Jobs Act.

Eligibility of Rental Income 
If you generate rental property income, that income can also qualify for the new deduction, as long as you can show that your rental operation is part of a trade or business. The IRS has released proposed guidelines that include a bright-line test, or safe harbor, for showing that your rental income rises to the level of a trade or business. Under that safe harbor, you can claim the deduction if your rental activities—which include maintaining and repairing property, c...