The Charleston Real Estate Advisor

John Stewart on Real Estate and Tim Geithner - Must Watch

Charleston real estate agents and taxpayers, take a look at this video and tell me what you think.  I don't know whether to laugh or cry:>)

The Daily Show With Jon Stewart	Mon - Thurs 11p / 10c
Home Crisis Investigation
www.thedailyshow.com
Daily Show Full Episodes Political Humor Spinal Tap Performance

Keller Williams Ranks Highest in Customer Satisfaction for a Second Consecutive Year

J.D . Powers rated Keller Williams Realty with the  highest real estate buyer satisfaction for the 2nd year in a row.  Overall satisfaction is determined by examining three factors for the home-buying experience: agent, office, and package of additional services. The Charleston Keller Williams Realty offices started in 2003 with just 5 agents and has grown to 300 agents with 4 offices in the greater Charleston area.  Congratulations Keller Williams Realty Charleston!

Charleston Real Estate Showings at a 18 Month High!!

Charleston Real Estate market is showing continued strength this summer and the latest leading indicator is that the showing appointments have reached an 18 month high in both Mt Pleasant and Dorchester County.  West Ashley and Berkeley County are at near record highs.  Real Estate showings appointments are the number of showing appointments made through Centralized Showings Service for buyers to tour active homes for sale. The higher the showing number, the more active the buyers are in the local Charleston Real Estate market.   What is causing the surge?  People coming back from summer vacation,  positive articles on the Charleston real estate market,  first time buyers?  What do you think? 

Charleston Homes: Right To Dry Clothes Outside?

Charleston Real Estate Trends: Outside Clothes Drying. There is a new grass root effort to allow residents to dry their clothes outside and save energy. Many neighborhoods restrict the practice. The Charleston Post and Courier had an editorial on "The Right 2 Dry" movement endorsing their concept to reduce energy costs. Charleston homeowners and renters, would you like to see people to hang their laundry out to dry? Why or Why not?

Stono Ferry Ironwood Townhomes Sales Market Update July 2009

The number of Stono Ferry Ironwood townhomes sold (1 unit) in the 1st half of 2009 at first glance is nothing to write home about but when you take into account the townhomes under contract it brings the 1/2 of 2009 to 3 units.  If the second half of 2009 has the same results, Ironwood townhomes would have their best year for sales.  Two factors will help the Stono Ferry Ironwood townhome sales this year.  First is the price and quality, second is financing. Banks will more eagerly lend on a townhome vs a condo.  With the mortgage meltdown last fall,  the folks in Washington decided that condos were high risk loans, so buyers looking for the freedom of care from a condo,  are now buying townhomes.  Tomorrow we will look at land sales in Stono Ferry. 

Here is a link to the Stono Ferry home sales for the 1st half of 2009.

Stono Ferry Home Sales First Half of 2009

The number of Stono Ferry homes sold in the 1st half of 2009 was very positive.  So far in 2009, there have been 6 home sales while in all of 2007 there were a total of 7 sales.   With six months to go, we should beat the 2007 Stono Ferry homes sold. 
Pricing has dropped with the average sales price in 2007 at 553,742 while in the first half of 2009; the average sales price of a Stono Ferry was $397,166.  This is a caused by "must sell" sellers reducing the list price to compete with other West Ashley and Charleston homes and the average buyer purchasing Stono Ferry homes below $500,000.  
Another good sign is the inventory on Stono Ferry homes is down to 18 homes and the months of inventory is trending downward.  Tomorrow we will look at townhome sales in Stono Ferry.

Charleston's Most Expensive Forcelosures For Sale

When you think of bank owned property, most people think of homes below $300,000.  In this economic downturn it is surprising to find more upper properties being sold by the bank. Here is a current list of top bank owned properties that are listed on the CTAR MLS . 

Senator Jim DeMint at the Charleston Tea Party

Here is a photo from the 4th of July 2009 Charleston Tea Party with Senator Jim DeMint signing his new book "Saving Freedom " for Shelbie Near while Richard Todd of WTMA interviews Senator DeMint in downtown Charleston.

Sewer Monster in North Carolina?

Just when you thought it was safe to go out:>).    It is not a monster but worms. 

Ed Buchan, environmental coordinator at the Raleigh Public Utilities Department, said staff biologists have confirmed that the “creature” is actually a colony of tubifex worms. The colonies attach themselves to roots that gradually work themselves into weak points in the pipes. “They seem to respond to the light from the camera,” Buchan said. “That light is pretty hot.”

The worms naturally occur in sewage and pond sediment and are actually sold both live and dried as fish food in pet stores. He said other staff members in the department have seen it before, although sightings aren’t particularly common. “I’ve seen a lot of sewer TV before and I’ve never seen them,” he said. “We were surprised. We didn’t know immediately what it was.”

Charleston Land For Sale a Victim of The Recession

 

Charleston "Land for Sale" has become a victim of the recession.  Without builders buying land to build new homes and "the move up buyer" building their new custom homes, land sales have dropped from 175 units sold per month in 2006 to just under 25 units sold per month in 2009.  When you look at the vast area of Charleston, Dorchester and Berkerley Counties and only have 25 lots selling across the 3 county area you can see lot sales have become a victim of this recession.   Builders and developers are still sitting on vacant lots so that when the builders start building again they will not be buying lots until they use up the their current internal inventory.  The inventory of lots for sale has ballooned from just under 2000 in 2006 to over 4700 units in 2009.  The few lots that are selling are "priced to sell" in comparison to the other lots in the  surrounding area.  Land sales will begin to recover after the new home builders start building again but due to the large inventory of vacant land for sale it will be a long and slow recovery for land sales.