The Charleston Real Estate Advisor

Impact of Listing on Your Real Estate Income

  In last two months Charleston real estate agents have seen their business turn up.  Some agents are seeing more than others.  What is causing some agents to have more closings than other agents?  Based on a simple comparison of the number of listings compared to closings 90-120 days later, their is strong correlation between the increased listings and increased closings 90 to 120 days later.  The agents that went out a got listings in March 2009 (see the example office below) had more closing in June and July of 2009.  With the winter months coming soon, What does your October and November real estate business look like?  The Charleston agents that want a strong fall need to be working on increasing their real estate listings now so that they can have more closings in the fall.

If you want head start on the other agents in Charleston, I would recommend Shaun Rawls "Sellers Mastery Class" on August 13th, 2009 at the Embassy Suites in North Charleston (Open to all agents).  He is bringing the latest material to secure, maintain and sell your listings.  In this shifting market you need an extra edge, Shaun will show you how to get that extra edge!  If interested, here is the  Seller Mastery registration form.

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.

The Charleston Real Estate Market is Getting Active

The Charleston real estate market is gaining steam since the 1st of the year.  Take a look at the number of showings in Mt Pleasant and West Ashley,  we are seeing the buyers searching for homes across the Charleston area as level from late summer in 2008.   We should see more real estate contracts in February 2009.  In the below $250,000 range for Mt Pleasant, we are hearing multiple offers on homes for sale. 

Trulia Releases Charleston Real Estate Inventory and Listing Graphs

Trulia has released new interactive graphs displaying the Charleston real estate inventory and average list price by major MLS areas.  It is a fast way to get a good visual que to what is happening in the local Charleston real estate market and what the average Charleston home for sale list price is by geographical area.

Charleston Real Estate - Trulia

Keller Williams Charleston Best Buy List - Jan 26th, 2009

The Keller Williams Charleston Best Buy List is connecting buyers and sellers in Charleston with 3 more properties going under contract this week.  Here is what's new for the Keller Williams Charleston Best Buy List for Jan 26th, 2009.  Click here to see all the properties.

New listings:

• 7958 Shadow Oak in Oak Bluff Subdivision for $109,500
• 4819 Piedmont Ave in Ferndale Subdivision for $69,900 

Price Reductions:

• Ivey Hall - $14K Price Reduction!
• North Creek - $74K Price Reduction!

Under Contract:

• 2715 Coddell Ct
• 1535 Fiddler Marsh
• 2448 Surpise

 

For agents:

Instructions for agents on how to post the Best Buy List to their website.

How Close is 4667 Summit Plantation to the Intracoastal Waterway

I have been asked how close is 4667 Summit Plantation (located on Swinton Creek) is to the Intracoastal Waterway and the Atlantic Ocean.  From the Google Maps below "A" marks 4667 Summit Plantation on Swinton Creek.   It is approximately 4 miles to the Intracoastal Waterway.  From the Intracoastal Waterway it is approximately 8 miles to the Atlantic Ocean.  4667 Summit Plantation is on the Keller Williams Best Buy List for the Charleston Homes for Sale.

Charleston in America's 25 Strongest Housing Market

Charleston SC housing market has been named one of "America's 25 Strongest Housing Market" by Forbes Magazine.  They look for a turn around in the Charleston real estate market in 2009.   Everyday we see more positive leading indicators that we have hit bottom in the Charleston real estate market and starting to build into a recovery.

How to Get Best Selling Price For Your Charleston Home

Everyone would like to get the best selling price for their home.  In the local Charleston real estate market the best way to get the best price for your home and to sell it in the fastest time is to price your home correctly when you first put your home on the market.  Testing the market with a higher price and then lowering the price after a few months results in a lower sales price and much longer time on the market.  Chuck Avera of Keller Williams Realty Charleston Mount Pleasant completed an in-depth study of the list price to sell price ratio and found that the homes priced to right when first listed (selling in under 90 days) had a selling price 94% of the original list price.  The homes that took over a year to sell only got 75% of the original list price.  Having to wait over year to sell and getting only 75% of your list price are two good reasons to price your home right when you first list your Charleston home for sale in this current market.  For more details on the study please go to www.ionmarketupdate.com.

Start off 2009 With Dave Ramsey "Get Straight with Money"

Start 2009 off on the right foot! Host Dave Jenks of Business by The Book talks with money management expert, best-selling author and TV and radio personality Dave Ramsey.

• What happens to money?
• What wealth can come of home ownership and investments?
• What’s the diagnosis of the current market?

Dave covers all these questions and much more.  What did you like about this interview?

Locally, we will begin the Financial Peace University Course very shortly.  If you are interested, please let me know and I will send you more information.

South Carolina Home Buyers - Are Empty Nesters and Single

The recent report on South Carolina Homebuyers and Sellers has some interesting facts on the buyers.   Over one third of the homes being bought in South Carolina are purchased by a single people, with single women out buying single men by 3 to 1.  (24% of the buyers were single females and 8% were single males).  Of the married couples (63%) that purchased a home nearly two thirds of these families have no children residing at home (empty nesters). This leaves only 25% of the homebuyers with children looking for a larger house with more bedrooms and space.  The other 75% of the homebuyers are looking for smaller and easier to maintain homes.   This reflects the trend we are seeing toward smaller homes selling faster than the larger homes.
More information on SC Buyers:

  SC Buyers on Internet and Social Networks

  SC Buyers are Younger