The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:
How Green is Your Attic?
According to the Department of energy 44% of an average household’s energy dollars is for heating and air conditioning. For a relatively modest investment in insulation materials and labor, a consumer can lower those costs on an ongoing basis and generate a rapid payback.
Though insulating a home is green in itself, some alternatives are greener than others. Some use recycled materials while others use new technology, while others use older products made in a more earth friendly way.
5 Green Insulation Options
1. Cotton insulation is made from recycled scrap generated during denim manufacturing. It is flame resistant and is about twice as costly as fiberglass with about the same R-factor.
2. Mineral wool insulation is made from steel slag or natural rock that is manufactured into a flame resistant fiber. It contains over 75% recycled materials. It is moisture resistant and holds its R-value when wet. It can be used in below grade applications.
3. Fiberglass made from abundant silica and has been made greener through the inclusion of post consumer and post industrial recycled materials.
4. Cellulose is today’s green loose fill insulation of choice. It is composed of roughly 75% recycled shredded newsprint treated to be flame resistant. Cellulose is not advisable to use in areas prone to moisture.
5. Polyiso is considered the most environmentally friendly spray foam and rigid foam board. It has a higher R-value than batt, and loose fill insulation and can be used anywhere in a home except below grade.
With all the above insulation alternatives above , proper installation is the key to tightening a home. Poorly installed insulation that leaves gaps or is not well sited to the moisture levels can compromise the R-value of the insulation. Some installations may qualify for a tax credit.
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com
Showing posts with label Charleston Home for Sale. Show all posts
Showing posts with label Charleston Home for Sale. Show all posts
Friday, May 28, 2010
Thursday, May 27, 2010
South Carolina April 2010 Market Analysis
The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:
South Carolina April 2010 Market Analysis
As expected, buyers in South Carolina took advantage of the federal first-time home buyer tax credit last month, which officially came to a close on April 30. Pending Sales were up 16.3 percent versus last year at this time, with 4,802 contracts written. That is the highest number of pending sales since April 2008. Closed Sales were also up 25.0 percent to 4,196.
To capitalize on buyer activity, sellers added 10,863 new listings to the market in April, an increase of 22.3 percent compared to last year. They may have also been encouraged by the Median Sales Price which was up 4.4 percent to $144,000. This influx of listings has pushed the Months Supply of Inventory up 3.7 percent to 14.9, and inventory itself was also up 3.2 percent to 56,844. This is also a high mark. In fact, it's the most properties available in South Carolina since modern methods of data tracking began in 2007.
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com
South Carolina April 2010 Market Analysis
As expected, buyers in South Carolina took advantage of the federal first-time home buyer tax credit last month, which officially came to a close on April 30. Pending Sales were up 16.3 percent versus last year at this time, with 4,802 contracts written. That is the highest number of pending sales since April 2008. Closed Sales were also up 25.0 percent to 4,196.
To capitalize on buyer activity, sellers added 10,863 new listings to the market in April, an increase of 22.3 percent compared to last year. They may have also been encouraged by the Median Sales Price which was up 4.4 percent to $144,000. This influx of listings has pushed the Months Supply of Inventory up 3.7 percent to 14.9, and inventory itself was also up 3.2 percent to 56,844. This is also a high mark. In fact, it's the most properties available in South Carolina since modern methods of data tracking began in 2007.
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com
Saturday, May 22, 2010
The Charleston Museum’s Joseph Manigault House
The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:
The Charleston Museum’s Joseph Manigault House
The National Historic Landmark Joseph Manigault House was built in 1803 and is one of two National Historic Landmark Homes operated by the Charleston Museum. The other one is The Heyward – Washington House built in 1772.
The Joseph Manigault House is located at 350 Meeting Street in historic downtown Charleston. The Heyward – Washington House is located at 87 Church Street in historic downtown Charleston.
The Joseph Manigault House, also know as “Charleston’s Huguenot House”, was designed by Gabriel Manigault for his brother Joseph. This three story suburban villa is a premier example of Federal, or Adam Style, architecture. The house reveals the lifestyle of a wealthy, rice planting family of French – Huguenot descent and the African American slaves who lived there. The interior boasts of American, English, and French furnishings, while a charming Gate Temple is the focus of a period garden.
The Museum is open daily Monday – Saturday 9 to 5 and Sunday 1 to 5.The homes are open Monday – Saturday 10 to 5 and Sunday 1 to 5.Call 843-722-2996 for additional information, or visit http://www.charlestonmuseum.org/
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com/
The Charleston Museum’s Joseph Manigault House
The National Historic Landmark Joseph Manigault House was built in 1803 and is one of two National Historic Landmark Homes operated by the Charleston Museum. The other one is The Heyward – Washington House built in 1772.
The Joseph Manigault House is located at 350 Meeting Street in historic downtown Charleston. The Heyward – Washington House is located at 87 Church Street in historic downtown Charleston.
The Joseph Manigault House, also know as “Charleston’s Huguenot House”, was designed by Gabriel Manigault for his brother Joseph. This three story suburban villa is a premier example of Federal, or Adam Style, architecture. The house reveals the lifestyle of a wealthy, rice planting family of French – Huguenot descent and the African American slaves who lived there. The interior boasts of American, English, and French furnishings, while a charming Gate Temple is the focus of a period garden.
The Museum is open daily Monday – Saturday 9 to 5 and Sunday 1 to 5.The homes are open Monday – Saturday 10 to 5 and Sunday 1 to 5.Call 843-722-2996 for additional information, or visit http://www.charlestonmuseum.org/
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com/
Thursday, May 20, 2010
Charleston’s 2010 Piccolo Festival JAC Jazz Series
The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:
Charleston’s 2010 Piccolo Festival JAC Jazz Series
The 2010 Piccolo Festival Jazz Series is be conducted by the Jazz Artists of Charleston. The Piccolo Jazz series will be hosted upstairs at McCrady’s Restaurant located at 2Unit Alley in downtown historic Charleston. See these Charleston jazz musicians at their best in a very intimate setting.
This is a thirteen night series from May 27th through June 11th featuring Charleston’s finest jazz artists. There will be 2 sets each night at 7:00 PM and 10:00 PM. Doors open 30 minutes prior to each set. Tickets are $20 per set in advance or $25 per set the day of.
To purchase tickets of for additional information visit http://www.THEJAC.org or call 843-641-0011.
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com
Charleston’s 2010 Piccolo Festival JAC Jazz Series
The 2010 Piccolo Festival Jazz Series is be conducted by the Jazz Artists of Charleston. The Piccolo Jazz series will be hosted upstairs at McCrady’s Restaurant located at 2Unit Alley in downtown historic Charleston. See these Charleston jazz musicians at their best in a very intimate setting.
This is a thirteen night series from May 27th through June 11th featuring Charleston’s finest jazz artists. There will be 2 sets each night at 7:00 PM and 10:00 PM. Doors open 30 minutes prior to each set. Tickets are $20 per set in advance or $25 per set the day of.
To purchase tickets of for additional information visit http://www.THEJAC.org or call 843-641-0011.
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com
Saturday, April 17, 2010
Mount Pleasant Pier
The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:
Mount Pleasant Pier
Located at the foot of the Arthur Ravenel, Jr. Bridge on the Charleston Harbor, the Mount Pleasant Pier is part of the Memorial Waterfront Park complex.
Mount Pleasant Pier features:
1. Fishing
2. Tackle sales and rod rentals
3. Made-to-order sandwiches, ice cream, and fresh-baked pastries at the River
4. Watch Cafe & Gift Shop
5. Breathtaking views of the Charleston harbor
6. Special events
7. Gifts and souvenirs
8. Swings, picnic tables, and rocking chairs
9. Restrooms
The Mount Pleasant Pier also offers a variety of special events throughout the year:
1. Shaggin' on the Cooper
2. Blugrass Under the Bridge
3. Cooper River Challenge Fishing Tournaments
4. Costumes on the Cooper
Mount Pleasant Pier Hours of Operation:
January and February 8:00 AM to 5:00 PM
March 7:00 AM to 7:00 PM
April – October 6:00 AM to 11:00 PM
November 7:00 AM to 7:00 PM
December 8:00 AM to 5:00 PM
Mount Pleasant Pier Fees:
Parking: metered, $0.50/hour
Daily fishing pass: $8.00, $5.00 for Charleston County resident, $3.00 for children 12 and older.
Rod rental: $8.00 for 5 hours, $12.00 per day, rod deposit of $25.
Annual fishing passes are available.
For additional information call 843-762-9946, or visit http://www.ccprc.com
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com
Mount Pleasant Pier
Located at the foot of the Arthur Ravenel, Jr. Bridge on the Charleston Harbor, the Mount Pleasant Pier is part of the Memorial Waterfront Park complex.
Mount Pleasant Pier features:
1. Fishing
2. Tackle sales and rod rentals
3. Made-to-order sandwiches, ice cream, and fresh-baked pastries at the River
4. Watch Cafe & Gift Shop
5. Breathtaking views of the Charleston harbor
6. Special events
7. Gifts and souvenirs
8. Swings, picnic tables, and rocking chairs
9. Restrooms
The Mount Pleasant Pier also offers a variety of special events throughout the year:
1. Shaggin' on the Cooper
2. Blugrass Under the Bridge
3. Cooper River Challenge Fishing Tournaments
4. Costumes on the Cooper
Mount Pleasant Pier Hours of Operation:
January and February 8:00 AM to 5:00 PM
March 7:00 AM to 7:00 PM
April – October 6:00 AM to 11:00 PM
November 7:00 AM to 7:00 PM
December 8:00 AM to 5:00 PM
Mount Pleasant Pier Fees:
Parking: metered, $0.50/hour
Daily fishing pass: $8.00, $5.00 for Charleston County resident, $3.00 for children 12 and older.
Rod rental: $8.00 for 5 hours, $12.00 per day, rod deposit of $25.
Annual fishing passes are available.
For additional information call 843-762-9946, or visit http://www.ccprc.com
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com
Thursday, April 8, 2010
Edmondston – Alston House at 21 East Battery, Charleston, South Carolina
The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:
Edmondston – Alston House at 21 East Battery, Charleston, South Carolina
Of Charleston’s many fine house museums, only the Edmondson – Alston ( constructed in 1825 and renovated in 1838) commands magnificent views of the Charleston harbor. Form its piazzas General P. T. Beauregard watched the fierce bombardment of Fort Sumter on April 12, 1861 which signaled the start of the Civil War. December 11th the same year the home gave refuge to General Robert E. Lee the night a fire threatened his safety in a hotel where he was staying.
The house was built in the late Federal style by Scottish shipping merchant Charles Edmondston at the height of his commercial success. A decade later, during an economic reversal known as “The Panic of 1837” Edmondston sold the home to Charles Alston. Altson quickly began to update the home in the Greek Revival style. The home has remained in the Alston family since that time.
This home is managed by the Middleton Place Foundation. Tours are offered Tuesday through Saturday from 10:00 AM to 4:30 PM and Sunday and Monday from 1:30 PM to 4:30 PM. For more information call 843-722-7171, or visit http://www.middletonplace.org/
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com/
Edmondston – Alston House at 21 East Battery, Charleston, South Carolina
Of Charleston’s many fine house museums, only the Edmondson – Alston ( constructed in 1825 and renovated in 1838) commands magnificent views of the Charleston harbor. Form its piazzas General P. T. Beauregard watched the fierce bombardment of Fort Sumter on April 12, 1861 which signaled the start of the Civil War. December 11th the same year the home gave refuge to General Robert E. Lee the night a fire threatened his safety in a hotel where he was staying.
The house was built in the late Federal style by Scottish shipping merchant Charles Edmondston at the height of his commercial success. A decade later, during an economic reversal known as “The Panic of 1837” Edmondston sold the home to Charles Alston. Altson quickly began to update the home in the Greek Revival style. The home has remained in the Alston family since that time.
This home is managed by the Middleton Place Foundation. Tours are offered Tuesday through Saturday from 10:00 AM to 4:30 PM and Sunday and Monday from 1:30 PM to 4:30 PM. For more information call 843-722-7171, or visit http://www.middletonplace.org/
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com/
Tuesday, April 6, 2010
Vacation-Home Sales Increased in 2009
The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:
Vacation-Home Sales Increased in 2009
Vacation-home sales recovered in 2009 while investment sales fell sharply, according to the National Association of REALTORS®.
NAR’s 2010 "Investment and Vacation Home Buyers Survey," covering existing- and new-home transactions in 2009, shows vacation-home sales rose 7.9 percent to 553,000 last year from 513,000 in 2008, while investment-home sales fell 15.9 percent to 940,000 in 2009 from 1.12 million in 2008. Primary residence sales rose 7.1 percent to 4.04 million in 2009 from 3.77 million in 2008.
NAR Chief Economist Lawrence Yun said, “The typical vacation-home buyer is making a lifestyle choice, with nine out of 10 saying they intend to use the property for vacations or as a family retreat. Investment buyers primarily seek rental income, with six in 10 planning to rent to others, although one in five wants a family member, friend, or relative to use the home.”
Half of vacation homes purchased last year were in the South, 21 percent in the West, 17 percent in the Midwest and 12 percent in the Northeast. Seven out of 10 were detached single-family homes.
The distribution of investment sales was fairly close to the distribution of population: 35 percent in the South, 25 percent in the West, 24 percent in the Midwest and 16 percent in the Northeast. There was a higher share of condos in investment sales: 27 percent of investment homes were condos vs. 21 percent of vacation homes.
Here is a breakdown of statistics from the survey:
Vacation-Home Buyers
1. Only one in four vacation-home buyers plan to rent their properties to others.
2. 26 percent of vacation-home buyers intend to use the property as a primary residence in the future.
3. The vacation-home market share rose a percentage point to 10 percent.
4. The median transaction price of a vacation home was $169,000 in 2009, compared with $150,000 in 2008.
5. Three out of 10 vacation-home buyers in 2009 paid cash for their properties.
6. The typical vacation-home buyer in 2009 was 46 years old, had a median household income of $87,500, and purchased a property that was a median distance of 348 miles from their primary residence.
Investment-Home Buyers
1. One in five investment buyers plan to use their homes for vacations or as a family retreat.
2. 8 percent of investment buyers intend to use the property as a primary residence in the
future.
3. The market share of homes purchased for investment was 17 percent in 2009, down from 21 percent in 2008.
4. The total share of second homes declined from 30 percent of sales in 2008 to 27 percent in 2009.
5. The median investment property sold for $105,000 last year, down 2.8 percent from $108,000 in 2008.
6. Half of investment buyers paid cash.
7. Investment-home buyers last year had a median age of 45, earned $87,200, and bought a home that was relatively close to their primary residence – a median distance of 24 miles.
8. Roughly one in four investment buyers purchased more than one property in 2009.
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com
Source: NAR
Vacation-Home Sales Increased in 2009
Vacation-home sales recovered in 2009 while investment sales fell sharply, according to the National Association of REALTORS®.
NAR’s 2010 "Investment and Vacation Home Buyers Survey," covering existing- and new-home transactions in 2009, shows vacation-home sales rose 7.9 percent to 553,000 last year from 513,000 in 2008, while investment-home sales fell 15.9 percent to 940,000 in 2009 from 1.12 million in 2008. Primary residence sales rose 7.1 percent to 4.04 million in 2009 from 3.77 million in 2008.
NAR Chief Economist Lawrence Yun said, “The typical vacation-home buyer is making a lifestyle choice, with nine out of 10 saying they intend to use the property for vacations or as a family retreat. Investment buyers primarily seek rental income, with six in 10 planning to rent to others, although one in five wants a family member, friend, or relative to use the home.”
Half of vacation homes purchased last year were in the South, 21 percent in the West, 17 percent in the Midwest and 12 percent in the Northeast. Seven out of 10 were detached single-family homes.
The distribution of investment sales was fairly close to the distribution of population: 35 percent in the South, 25 percent in the West, 24 percent in the Midwest and 16 percent in the Northeast. There was a higher share of condos in investment sales: 27 percent of investment homes were condos vs. 21 percent of vacation homes.
Here is a breakdown of statistics from the survey:
Vacation-Home Buyers
1. Only one in four vacation-home buyers plan to rent their properties to others.
2. 26 percent of vacation-home buyers intend to use the property as a primary residence in the future.
3. The vacation-home market share rose a percentage point to 10 percent.
4. The median transaction price of a vacation home was $169,000 in 2009, compared with $150,000 in 2008.
5. Three out of 10 vacation-home buyers in 2009 paid cash for their properties.
6. The typical vacation-home buyer in 2009 was 46 years old, had a median household income of $87,500, and purchased a property that was a median distance of 348 miles from their primary residence.
Investment-Home Buyers
1. One in five investment buyers plan to use their homes for vacations or as a family retreat.
2. 8 percent of investment buyers intend to use the property as a primary residence in the
future.
3. The market share of homes purchased for investment was 17 percent in 2009, down from 21 percent in 2008.
4. The total share of second homes declined from 30 percent of sales in 2008 to 27 percent in 2009.
5. The median investment property sold for $105,000 last year, down 2.8 percent from $108,000 in 2008.
6. Half of investment buyers paid cash.
7. Investment-home buyers last year had a median age of 45, earned $87,200, and bought a home that was relatively close to their primary residence – a median distance of 24 miles.
8. Roughly one in four investment buyers purchased more than one property in 2009.
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com
Source: NAR
Monday, April 5, 2010
Unemployment Keeps Recovery at Bay
The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:
Unemployment Keeps Recovery at Bay
The jobs report released Friday by the U.S. Department of Labor shows that the nation’s labor market continues to be weak. While employers added 162,000 jobs in March, the largest gain since 2007, about 48,000 of them were temporary positions working for the Census. The unemployment rate held steady at 9.7 percent.
This situation has a serious impact on the housing market because people without jobs don’t buy houses, and some of the unemployed will be unable to pay their mortgages.
The Mortgage Bankers Association’s quarterly survey suggests that early-stage mortgage delinquencies may have already peaked — a good sign. Nevertheless, the pool of seriously delinquent loans continues to grow.
Freddie Mac Chief Economist Frank Nothaft is optimistic, but he warns, “Because of foreclosure moratoria, judicial backlogs, and [modification] trial periods, many loans are languishing either in late-stage delinquency or in the foreclosure process and could add to [bank-owned] inventories in the coming year.”
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com
Source: The Wall Street Journal, Nick Timiraos (04/02/2010)
Unemployment Keeps Recovery at Bay
The jobs report released Friday by the U.S. Department of Labor shows that the nation’s labor market continues to be weak. While employers added 162,000 jobs in March, the largest gain since 2007, about 48,000 of them were temporary positions working for the Census. The unemployment rate held steady at 9.7 percent.
This situation has a serious impact on the housing market because people without jobs don’t buy houses, and some of the unemployed will be unable to pay their mortgages.
The Mortgage Bankers Association’s quarterly survey suggests that early-stage mortgage delinquencies may have already peaked — a good sign. Nevertheless, the pool of seriously delinquent loans continues to grow.
Freddie Mac Chief Economist Frank Nothaft is optimistic, but he warns, “Because of foreclosure moratoria, judicial backlogs, and [modification] trial periods, many loans are languishing either in late-stage delinquency or in the foreclosure process and could add to [bank-owned] inventories in the coming year.”
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com
Source: The Wall Street Journal, Nick Timiraos (04/02/2010)
Sunday, April 4, 2010
6 Key Features of the New Housing Rescue Plan
The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:
6 Key Features of the New Housing Rescue Plan
The government’s newest housing rescue effort, which was announced Friday, includes these key tenets:
1. As much as $14 billion of the Troubled Asset Relief Program (TARP) will be made available to pay for writing down second liens for loans whose borrowers refinance through the Federal Housing Administration.
2. Lenders that facilitate refinances through the FHA will be required to write down the principal of the first mortgage by at least 10 percent so the home owner has a loan-to-value ratio no higher than 97.75 percent.
3. Lenders of second liens will be offered incentives of 10 cents to 21 cents per dollar of principal they write down in connection with an FHA refinance.
4. Borrowers who lose their jobs can apply to have their mortgage payments reduced for three to six months while they search for a new job.
5. Borrowers with a payment still greater than 31 percent of income after they find a job will be considered for a permanent loan modification.
6. To encourage more short sales and “deed in lieu” of foreclosure transactions in which the lender settles the loan for less than is owed, the government will double assistance to borrowers to $3,000 and increase incentives to subordinate lien holders and investors to $6,000.
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com
Source: Reuters News (03/26/2010)
6 Key Features of the New Housing Rescue Plan
The government’s newest housing rescue effort, which was announced Friday, includes these key tenets:
1. As much as $14 billion of the Troubled Asset Relief Program (TARP) will be made available to pay for writing down second liens for loans whose borrowers refinance through the Federal Housing Administration.
2. Lenders that facilitate refinances through the FHA will be required to write down the principal of the first mortgage by at least 10 percent so the home owner has a loan-to-value ratio no higher than 97.75 percent.
3. Lenders of second liens will be offered incentives of 10 cents to 21 cents per dollar of principal they write down in connection with an FHA refinance.
4. Borrowers who lose their jobs can apply to have their mortgage payments reduced for three to six months while they search for a new job.
5. Borrowers with a payment still greater than 31 percent of income after they find a job will be considered for a permanent loan modification.
6. To encourage more short sales and “deed in lieu” of foreclosure transactions in which the lender settles the loan for less than is owed, the government will double assistance to borrowers to $3,000 and increase incentives to subordinate lien holders and investors to $6,000.
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com
Source: Reuters News (03/26/2010)
Saturday, April 3, 2010
Charleston’s South Carolina Aquarium Sustainable Seafood Initiative
The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:
Charleston’s South Carolina Aquarium Sustainable Seafood Initiative
Designed to promote the use of local and sustainable seafood in South Carolina’s restaurants, the Sustainable Seafood Initiative helps ensure that consumers have fish for the future by teaching our partner chefs about sustainable and local seafood, assessing their menus, and encouraging consumers to dine at our partner restaurants. The Sustainable Seafood Initiative is guided by an interdisciplinary and diverse Steering Committee ensuring that the program pragmatically balances the needs of the environment with the world population’s need for seafood. We believe that we can lessen the impact we have on the oceans by making wise seafood choices and encouraging improvement of fishing and fish-farming methods.
For further information on ocean conservation and how to make environmentally friendly seafood choices visit: http://www.scaquarium.org/ssi
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com/
Charleston’s South Carolina Aquarium Sustainable Seafood Initiative
Designed to promote the use of local and sustainable seafood in South Carolina’s restaurants, the Sustainable Seafood Initiative helps ensure that consumers have fish for the future by teaching our partner chefs about sustainable and local seafood, assessing their menus, and encouraging consumers to dine at our partner restaurants. The Sustainable Seafood Initiative is guided by an interdisciplinary and diverse Steering Committee ensuring that the program pragmatically balances the needs of the environment with the world population’s need for seafood. We believe that we can lessen the impact we have on the oceans by making wise seafood choices and encouraging improvement of fishing and fish-farming methods.
For further information on ocean conservation and how to make environmentally friendly seafood choices visit: http://www.scaquarium.org/ssi
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com/
Tuesday, March 23, 2010
The Inn at Middleton Place
The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:
The Inn at Middleton Place
Located just outside Charleston, SC, on the bluffs of the Ashley River, the Inn at Middleton Place offers relaxing accommodations in an atmosphere of unsurpassed natural beauty.
A recipient of the American Institute of Architects highest award, the Inn's design is a contemporary counterpoint to the adjacent 18th-century Middleton Place, America's oldest landscaped gardens, and a National Historic Landmark.In addition to gracious sleeping-room accommodations, with scenic views and seasonal wood-burning fireplaces, guests of the Inn enjoy a wide range of educational experiences. The Middleton Place Gardens, House Museum and Stableyards tell the story of one of America's most important families and the history of a thriving South Carolina rice plantation. Admission for two (a $70 value) in included in your room rate. Middleton Outdoor Center's naturalists facilitate daily guided- and self-guided walking, biking and kayaking tours of the woods, marsh and river.
Your stay also includes an assortment of fresh fruit, pastry and cereal as well as an evening manager reception where you are treated to house wines, beer and daily appetizers. Dining options consist of The Lakehouse, where a hot cooked to order breakfast can be purchased from 7-10 am, the Lodge and Garden Market where light lunch and snack options are available, or The Middleton Place Restaurant offering classic low country cuisine for lunch and dinner. The Restaurant is closed on Monday evenings.
For additional information and room rates visit: http://www.theinnatmiddletonplace.com/
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com/
The Inn at Middleton Place
Located just outside Charleston, SC, on the bluffs of the Ashley River, the Inn at Middleton Place offers relaxing accommodations in an atmosphere of unsurpassed natural beauty.
A recipient of the American Institute of Architects highest award, the Inn's design is a contemporary counterpoint to the adjacent 18th-century Middleton Place, America's oldest landscaped gardens, and a National Historic Landmark.In addition to gracious sleeping-room accommodations, with scenic views and seasonal wood-burning fireplaces, guests of the Inn enjoy a wide range of educational experiences. The Middleton Place Gardens, House Museum and Stableyards tell the story of one of America's most important families and the history of a thriving South Carolina rice plantation. Admission for two (a $70 value) in included in your room rate. Middleton Outdoor Center's naturalists facilitate daily guided- and self-guided walking, biking and kayaking tours of the woods, marsh and river.
Your stay also includes an assortment of fresh fruit, pastry and cereal as well as an evening manager reception where you are treated to house wines, beer and daily appetizers. Dining options consist of The Lakehouse, where a hot cooked to order breakfast can be purchased from 7-10 am, the Lodge and Garden Market where light lunch and snack options are available, or The Middleton Place Restaurant offering classic low country cuisine for lunch and dinner. The Restaurant is closed on Monday evenings.
For additional information and room rates visit: http://www.theinnatmiddletonplace.com/
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com/
Friday, March 19, 2010
The Citadel Museum
The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:
The Citadel Museum
The Citadel Museum represents the history of The Military College of South Carolina from its founding in 1842 to the present. Arranged chronologically, the permanent exhibits feature the military, academic, athletic and social aspects of cadet life.
The past is brought to life with photographs from the Archives highlighting the exhibits. Memorabilia from special events, biographical sketches of the presidents of the college, as well as cadet uniforms and arms are displayed. Through a self guided tour, the visitor experiences the essence of each era in The Citadel's history.
A handsome display of Citadel rings from 1895 to the present is a focal point in the foyer of the Museum. Citadel men who lost their lives in wars since World War II are memorialized in photograph albums also in the Museum's foyer.
Museum Tours
Although the museum is designed to be self-guided, group tours can be arranged by making an appointment in advance of the visit. Group size must be under 30 people for a guided tour, due to the size of the exhibit area.
Hours of operation are: Sunday – Friday, 2:00 PM to 5:00 PM, Saturday, 12:00 PM to 5:00 PM
For more information see http://www.citadel.edu/acrhicesandmuesuem
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com
The Citadel Museum
The Citadel Museum represents the history of The Military College of South Carolina from its founding in 1842 to the present. Arranged chronologically, the permanent exhibits feature the military, academic, athletic and social aspects of cadet life.
The past is brought to life with photographs from the Archives highlighting the exhibits. Memorabilia from special events, biographical sketches of the presidents of the college, as well as cadet uniforms and arms are displayed. Through a self guided tour, the visitor experiences the essence of each era in The Citadel's history.
A handsome display of Citadel rings from 1895 to the present is a focal point in the foyer of the Museum. Citadel men who lost their lives in wars since World War II are memorialized in photograph albums also in the Museum's foyer.
Museum Tours
Although the museum is designed to be self-guided, group tours can be arranged by making an appointment in advance of the visit. Group size must be under 30 people for a guided tour, due to the size of the exhibit area.
Hours of operation are: Sunday – Friday, 2:00 PM to 5:00 PM, Saturday, 12:00 PM to 5:00 PM
For more information see http://www.citadel.edu/acrhicesandmuesuem
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com
Wednesday, March 17, 2010
Fort Sumter National Monument
The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:
Fort Sumter National Monument
Fort Sumter is the Island Fort where the Civil War began. On April 10, 1861, Brig. Gen. Beauregard, in command of the provisional Confederate forces at Charleston, South Carolina, demanded the surrender of the Union garrison of Fort Sumter in Charleston Harbor. Garrison commander Anderson refused. On April 12, Confederate batteries opened fire on the fort, which was unable to reply effectively. At 2:30 pm, April 13, Major Anderson surrendered Fort Sumter, evacuating the garrison on the following day. The bombardment of Fort Sumter was the opening engagement of the American Civil War. Although there were no casualties during the bombardment, one Union artillerist was killed and three wounded (one mortally) when a cannon exploded prematurely while firing a salute during the evacuation on April 14.
Fort Sumter Tours
Fort Sumter Tours is an authorized National Park Service concessioner. We provide the only commercial boat transportation to Fort Sumter, the island fort where the Civil War began. The cruise yachts carrying you to Fort Sumter are U.S. Coast Guard inspected passenger vessels. They are clean, safe and equipped with snack bars and restrooms.
We have two convenient locations from which you can depart: Liberty Square in downtown Charleston, or in Mt. Pleasant at the Patriots Point Maritime Museum, the world's largest naval and maritime museum.
After boarding, you will experience a relaxing 30 minute cruise through Charleston's historic harbor out to Fort Sumter. The tour is fully narrated and explains many points of interest and historic significance. You will learn about the major events which led to the outbreak of America's most bloody war. At Fort Sumter National Park, historians will provide detailed information about Fort Sumter and its pivotal role in the War between the States. There is a museum with fascinating exhibits and a small gift shop for your enjoyment. After one hour at the Fort, you will cruise back to port, enjoying panoramic views of the Atlantic Ocean and Charleston's bustling harbor.
For rates and schedules see www.fortsumtertours.com
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com
Fort Sumter National Monument
Fort Sumter is the Island Fort where the Civil War began. On April 10, 1861, Brig. Gen. Beauregard, in command of the provisional Confederate forces at Charleston, South Carolina, demanded the surrender of the Union garrison of Fort Sumter in Charleston Harbor. Garrison commander Anderson refused. On April 12, Confederate batteries opened fire on the fort, which was unable to reply effectively. At 2:30 pm, April 13, Major Anderson surrendered Fort Sumter, evacuating the garrison on the following day. The bombardment of Fort Sumter was the opening engagement of the American Civil War. Although there were no casualties during the bombardment, one Union artillerist was killed and three wounded (one mortally) when a cannon exploded prematurely while firing a salute during the evacuation on April 14.
Fort Sumter Tours
Fort Sumter Tours is an authorized National Park Service concessioner. We provide the only commercial boat transportation to Fort Sumter, the island fort where the Civil War began. The cruise yachts carrying you to Fort Sumter are U.S. Coast Guard inspected passenger vessels. They are clean, safe and equipped with snack bars and restrooms.
We have two convenient locations from which you can depart: Liberty Square in downtown Charleston, or in Mt. Pleasant at the Patriots Point Maritime Museum, the world's largest naval and maritime museum.
After boarding, you will experience a relaxing 30 minute cruise through Charleston's historic harbor out to Fort Sumter. The tour is fully narrated and explains many points of interest and historic significance. You will learn about the major events which led to the outbreak of America's most bloody war. At Fort Sumter National Park, historians will provide detailed information about Fort Sumter and its pivotal role in the War between the States. There is a museum with fascinating exhibits and a small gift shop for your enjoyment. After one hour at the Fort, you will cruise back to port, enjoying panoramic views of the Atlantic Ocean and Charleston's bustling harbor.
For rates and schedules see www.fortsumtertours.com
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com
Saturday, March 13, 2010
Top 10 Things First-Time Homebuyers Should Know
The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:
Top 10 Things First-Time Homebuyers Should Know
Buying a home for the first time can be complex. To avoid mistakes and make a smart purchase, do the homework and know what to expect. To help start the process, HGTV's FrontDoor.com identifies the top 10 important points every first-time buyer must know. (http://www.frontdoor.com/top10)
1: Just because it's a buyer's market doesn't mean you should buy right now. Don't let the lucrative market dictate a buying decision if the time isn't absolutely right. Potential homebuyers need to ask themselves if they have a good credit score, if their job is secure and if they can stay in the home for a few years. If the answer to these questions is "no," it might make more sense to wait until life and finances are more stable.
2: The cost of owning a home is more than just the purchase price. On top of a mortgage payment, there are several monthly fees and expenses any first-time buyer should consider when becoming a homeowner: insurance, property taxes, utilities and maintenance. Think about scaling back the home price in order to better budget for the entire package.
3: Programs are out there to help first-time buyers. A sizeable down payment is great to have for a home purchase, but not everyone can afford to fork over 20 percent upfront. Fortunately, there are many federal, state and local programs geared toward helping first-time homebuyers with down payments, interest rates and loan terms sure to make the whole process and affordability a bit easier.
4: Foreclosures and short sales present great deals, but proceed with caution. Buying a foreclosed or short sale home can be a risky proposition for a first-time buyer. Foreclosures are often sold "as-is," while a short sale transaction can be lengthier and more complicated than a typical home purchase. First-timers should consult an agent or attorney with specialization in these areas.
5: Getting pre-approved for a loan gives you more buying power. Obtaining lender pre-approvals are important because it establishes a homebuyer's maximum purchase price, shows sellers that the buyer is serious about buying a home and lets the homebuyer compare interest rates and terms to find the best deal.
6: Good school districts boost property value. One of the most important aspects of a home's value is the neighborhood where it's located. Even if the homebuyer does not have kids, buying a home near sought-after schools can help the resale value.
7: You may be able to access your tax credit upfront. Buyers using FHA-insured mortgages can apply their tax credit toward their home purchase immediately, rather than waiting until they file their income taxes to receive a refund. Prospective buyers who believe they qualify for the credit are also allowed to reduce their income tax withholding, therefore increasing their take-home pay.
8: Not all real estate agents represent buyers. There are three types of agents: listing agents, who represent sellers and help them get the best price; buyers' agents, who represent buyers and protect their interests; and agents who represent either (or both). Often, first-time buyers prefer to work exclusively with a buyer's agent so there are no possible conflicts of interest.
9: Doing your homework can help you make a competitive offer. Before buying the home, determine the property's market value by having the realtor conduct a comparative market analysis. This report will show what buyers were willing to pay for similar homes in the area, giving a good idea of what will make a fair offer.
10: It's important to have a back-out plan. Before signing on the dotted line, make sure to have a contingency plan in case things don't go as planned in the home inspection or appraisal. If the home has a major flaw or doesn't appraise for the purchase price, an escape plan allows the contract to be voided.
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com/
Top 10 Things First-Time Homebuyers Should Know
Buying a home for the first time can be complex. To avoid mistakes and make a smart purchase, do the homework and know what to expect. To help start the process, HGTV's FrontDoor.com identifies the top 10 important points every first-time buyer must know. (http://www.frontdoor.com/top10)
1: Just because it's a buyer's market doesn't mean you should buy right now. Don't let the lucrative market dictate a buying decision if the time isn't absolutely right. Potential homebuyers need to ask themselves if they have a good credit score, if their job is secure and if they can stay in the home for a few years. If the answer to these questions is "no," it might make more sense to wait until life and finances are more stable.
2: The cost of owning a home is more than just the purchase price. On top of a mortgage payment, there are several monthly fees and expenses any first-time buyer should consider when becoming a homeowner: insurance, property taxes, utilities and maintenance. Think about scaling back the home price in order to better budget for the entire package.
3: Programs are out there to help first-time buyers. A sizeable down payment is great to have for a home purchase, but not everyone can afford to fork over 20 percent upfront. Fortunately, there are many federal, state and local programs geared toward helping first-time homebuyers with down payments, interest rates and loan terms sure to make the whole process and affordability a bit easier.
4: Foreclosures and short sales present great deals, but proceed with caution. Buying a foreclosed or short sale home can be a risky proposition for a first-time buyer. Foreclosures are often sold "as-is," while a short sale transaction can be lengthier and more complicated than a typical home purchase. First-timers should consult an agent or attorney with specialization in these areas.
5: Getting pre-approved for a loan gives you more buying power. Obtaining lender pre-approvals are important because it establishes a homebuyer's maximum purchase price, shows sellers that the buyer is serious about buying a home and lets the homebuyer compare interest rates and terms to find the best deal.
6: Good school districts boost property value. One of the most important aspects of a home's value is the neighborhood where it's located. Even if the homebuyer does not have kids, buying a home near sought-after schools can help the resale value.
7: You may be able to access your tax credit upfront. Buyers using FHA-insured mortgages can apply their tax credit toward their home purchase immediately, rather than waiting until they file their income taxes to receive a refund. Prospective buyers who believe they qualify for the credit are also allowed to reduce their income tax withholding, therefore increasing their take-home pay.
8: Not all real estate agents represent buyers. There are three types of agents: listing agents, who represent sellers and help them get the best price; buyers' agents, who represent buyers and protect their interests; and agents who represent either (or both). Often, first-time buyers prefer to work exclusively with a buyer's agent so there are no possible conflicts of interest.
9: Doing your homework can help you make a competitive offer. Before buying the home, determine the property's market value by having the realtor conduct a comparative market analysis. This report will show what buyers were willing to pay for similar homes in the area, giving a good idea of what will make a fair offer.
10: It's important to have a back-out plan. Before signing on the dotted line, make sure to have a contingency plan in case things don't go as planned in the home inspection or appraisal. If the home has a major flaw or doesn't appraise for the purchase price, an escape plan allows the contract to be voided.
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com/
Wednesday, March 10, 2010
The Powder Magazine in Charleston South Carolina
The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:
The Powder Magazine in Charleston South Carolina
The Powder Magazine is South Carolina’s oldest public building. Gunpowder and munitions that defended our young country from threats by the Spanish, French, Native Americans, and Pirates were stored here. You can explore Charleston’s Colonial history in a very unique setting.
The Powder Magazine is located within the old “walled city” of Charles Towne at 79 Cumberland Street.
Open Monday to Saturday 10:00 AM to 4:00 PM and Sunday 1:00 PM to 4:00 PM.
For additional information see http://www.powdermag.org/
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com/
The Powder Magazine in Charleston South Carolina
The Powder Magazine is South Carolina’s oldest public building. Gunpowder and munitions that defended our young country from threats by the Spanish, French, Native Americans, and Pirates were stored here. You can explore Charleston’s Colonial history in a very unique setting.
The Powder Magazine is located within the old “walled city” of Charles Towne at 79 Cumberland Street.
Open Monday to Saturday 10:00 AM to 4:00 PM and Sunday 1:00 PM to 4:00 PM.
For additional information see http://www.powdermag.org/
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com/
Tuesday, March 9, 2010
American Military Museum in Charleston South Carolina
The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:
American Military Museum in Charleston South Carolina
Hundreds of uniforms, patches, insignias, military miniatures, and toys soldiers from the Army, Navy, Air Force, Marine Corps, and Coast Guard. Collections on display from Desert Storm, Vietnam War, Korean War, World War II, World War I, Spanish American War, Indian Wars, Civil War, Mexican War, and Revolutionary War.
Located at 360 Concord Street on the Aquarium Wharf
Hours are Monday – Saturday 10:00 AM to 6:00 PM, and Sunday 1:00 Pm to 5:00 PM.
For additional information about the American Military Museum in Charleston South Carolina see http://www.americanmilitarymuseum.org/
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com
American Military Museum in Charleston South Carolina
Hundreds of uniforms, patches, insignias, military miniatures, and toys soldiers from the Army, Navy, Air Force, Marine Corps, and Coast Guard. Collections on display from Desert Storm, Vietnam War, Korean War, World War II, World War I, Spanish American War, Indian Wars, Civil War, Mexican War, and Revolutionary War.
Located at 360 Concord Street on the Aquarium Wharf
Hours are Monday – Saturday 10:00 AM to 6:00 PM, and Sunday 1:00 Pm to 5:00 PM.
For additional information about the American Military Museum in Charleston South Carolina see http://www.americanmilitarymuseum.org/
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com
Monday, March 8, 2010
Home Buyer Tax Credit Summary
The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:
HOMEBUYER TAX CREDIT SUMMARY
There are only 53 days left for home buyers to take advantage of the home buyer’s tax credit. You must have a home under contract by April 30th and close by June 30th. Below are the details of the tax credit.
1. Extend through April 30, 2010 the tax credit for first-time homebuyers (up to $8,000 or up to 10 percent of the purchase price of the residence), allowing 60 days to close, provided that the homes are under a binding contract by that date;and provide homebuyer tax credit of up to $6,500 to owners who have been in the same principal residence for five consecutive years during the previous eight years.
2. Increase the income limitations to $125,000 for individuals and $225,000 for joint filers.
3. Phase out the credit for individuals with incomes above $125,000 for individuals and $225,000 for joint filers at the same rate as current law (over the next $20,000).
3. Limit the credit to purchases of principal residences equal to or less than $800,000.
4. Eliminate the 36-month recapture requirement for military personnel, including members of the Foreign Service and intelligence community, forced to sell as a result of an official extended duty of service.
5. Extend the tax credit for one year for military personnel serving outside the United States for at least 90 days in 2009 or 2010.
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com/
HOMEBUYER TAX CREDIT SUMMARY
There are only 53 days left for home buyers to take advantage of the home buyer’s tax credit. You must have a home under contract by April 30th and close by June 30th. Below are the details of the tax credit.
1. Extend through April 30, 2010 the tax credit for first-time homebuyers (up to $8,000 or up to 10 percent of the purchase price of the residence), allowing 60 days to close, provided that the homes are under a binding contract by that date;and provide homebuyer tax credit of up to $6,500 to owners who have been in the same principal residence for five consecutive years during the previous eight years.
2. Increase the income limitations to $125,000 for individuals and $225,000 for joint filers.
3. Phase out the credit for individuals with incomes above $125,000 for individuals and $225,000 for joint filers at the same rate as current law (over the next $20,000).
3. Limit the credit to purchases of principal residences equal to or less than $800,000.
4. Eliminate the 36-month recapture requirement for military personnel, including members of the Foreign Service and intelligence community, forced to sell as a result of an official extended duty of service.
5. Extend the tax credit for one year for military personnel serving outside the United States for at least 90 days in 2009 or 2010.
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com/
Friday, March 5, 2010
Confederate Museum in Charleston South Carolina
The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:
Confederate Museum in Charleston South Carolina
City Market stands on the site of filled in creek and marshy lands donated by the Pinckney family for a city market, with the stipulation that the property revert to the family if used for any other purpose. The market was built sometime between 1788, when the land was donated, and 1807, when a city ordinance was adopted for regulating the "Central Market" here. The first market consisted of a beef market at the Meeting Street end of Market Street, behind which was a country produce market. On the other side of East Bay there was a fish market. The present Market Hall, erected in 1841, was designed by Edward B. White in the Roman Revival style. Sheep and bull skulls decorate the stucco frieze, symbolizing the presence of a meat market. In the past, the proximity of the meat market was indicated by buzzards (Charleston eagles) who scavenged the debris thrown in the street at the end of the market day. For providing that valuable service, the buzzards were protected by law. Other ordinances regulated butcher cuts and weights, required vendors to wear clean white aprons, etc. No produce could be brought to market for sale a second time. The second floor of the Market Hall houses the Confederate Museum and is the headquarters of the Charleston chapter of the "United Daughters of the Confederacy." The market sheds behind the hall are difficult to "date" as the market has been rebuilt several times due to fires and tornadoes.
(Rogers, Charleston in the Age of the Pinckneys , pp. 86-87; Ravenel, pp. 163-165; Fraser, Reminiscences , pp. 32-33; Rhett & Steele, pp. 54-55; Whitelaw & Levkoff, pp. 148, 210, 226;Nielsen, DYKYC, Sept. 2, 1935; Stockton DYKYC, April 15, 1974) http://www.ccpl.org/ccl/meeting_st_business.html
Hours of Operation:
Tuesday - Saturday 11AM - 3:30PMClosed on Sundays and Mondays
Admission: Adults & Teens $5.00----6 - 12 years old $3.00, Under 6 Free
Location: 188 Meeting Street, corner of Meeting and Market StreetsHistoric Downtown Charleston, South Carolina(843) 723-1541
Additional information or questions about the Confederate Museum at http://www.csa-scla.ogr/articles/ConfederateMuseum.htm
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com
Confederate Museum in Charleston South Carolina
City Market stands on the site of filled in creek and marshy lands donated by the Pinckney family for a city market, with the stipulation that the property revert to the family if used for any other purpose. The market was built sometime between 1788, when the land was donated, and 1807, when a city ordinance was adopted for regulating the "Central Market" here. The first market consisted of a beef market at the Meeting Street end of Market Street, behind which was a country produce market. On the other side of East Bay there was a fish market. The present Market Hall, erected in 1841, was designed by Edward B. White in the Roman Revival style. Sheep and bull skulls decorate the stucco frieze, symbolizing the presence of a meat market. In the past, the proximity of the meat market was indicated by buzzards (Charleston eagles) who scavenged the debris thrown in the street at the end of the market day. For providing that valuable service, the buzzards were protected by law. Other ordinances regulated butcher cuts and weights, required vendors to wear clean white aprons, etc. No produce could be brought to market for sale a second time. The second floor of the Market Hall houses the Confederate Museum and is the headquarters of the Charleston chapter of the "United Daughters of the Confederacy." The market sheds behind the hall are difficult to "date" as the market has been rebuilt several times due to fires and tornadoes.
(Rogers, Charleston in the Age of the Pinckneys , pp. 86-87; Ravenel, pp. 163-165; Fraser, Reminiscences , pp. 32-33; Rhett & Steele, pp. 54-55; Whitelaw & Levkoff, pp. 148, 210, 226;Nielsen, DYKYC, Sept. 2, 1935; Stockton DYKYC, April 15, 1974) http://www.ccpl.org/ccl/meeting_st_business.html
Hours of Operation:
Tuesday - Saturday 11AM - 3:30PMClosed on Sundays and Mondays
Admission: Adults & Teens $5.00----6 - 12 years old $3.00, Under 6 Free
Location: 188 Meeting Street, corner of Meeting and Market StreetsHistoric Downtown Charleston, South Carolina(843) 723-1541
Additional information or questions about the Confederate Museum at http://www.csa-scla.ogr/articles/ConfederateMuseum.htm
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com
Thursday, March 4, 2010
Shuck Your paws Off for Pet Helpers on March 20th
The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:
Shuck Your paws Off for Pet Helpers on March 20th
Downtown Charleston, South Carolina March 20th at the Charleston Visitor Center at 375 Meeting Street will be the site of a fund raiser to support Pet Helpers Adoption Center and Spay/Nutter Clinic. Pet Helpers works to accomplish this goal by keeping all animals until adopted, providing low cost spay/neutering, along with many training programs.
Enjoy this Saturday evening event full of all you can eat southern cuisines, and to the swinging sounds of the Shakin Martinis, all presented by Rosebank Farms Café, Fatboys Lowcountry Cooking, and Elizabeth Grace Occasions.
Indulge in all you can eat oysters, chilli, hot dogs, veggie dogs, non-alcoholic beverages and more! Be sure to check out the silent auction.
Get tickets online at http://www.pethelpers.org/, or by phone at 843-795-1110, or buy them at the door. Adult tickets are $35 in advance or $40 at the door (a special discount for college students), children 6-12 are $10, and children under 6 are free.
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com/
Shuck Your paws Off for Pet Helpers on March 20th
Downtown Charleston, South Carolina March 20th at the Charleston Visitor Center at 375 Meeting Street will be the site of a fund raiser to support Pet Helpers Adoption Center and Spay/Nutter Clinic. Pet Helpers works to accomplish this goal by keeping all animals until adopted, providing low cost spay/neutering, along with many training programs.
Enjoy this Saturday evening event full of all you can eat southern cuisines, and to the swinging sounds of the Shakin Martinis, all presented by Rosebank Farms Café, Fatboys Lowcountry Cooking, and Elizabeth Grace Occasions.
Indulge in all you can eat oysters, chilli, hot dogs, veggie dogs, non-alcoholic beverages and more! Be sure to check out the silent auction.
Get tickets online at http://www.pethelpers.org/, or by phone at 843-795-1110, or buy them at the door. Adult tickets are $35 in advance or $40 at the door (a special discount for college students), children 6-12 are $10, and children under 6 are free.
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com/
Wednesday, March 3, 2010
Existing-Home Sales Down, Prices Steady
The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:
Existing-Home Sales Down, Prices Steady
Existing-home sales fell in January but are above year-ago levels, according to the National Association of REALTORS®.
Existing-home sales — including single-family, townhomes, condominiums, and co-ops — dropped 7.2 percent to a seasonally adjusted annual rate of 5.05 million units in January from a revised 5.44 million in December, but remain 11.5 percent above the 4.53 million-unit level in January 2009.
Lawrence Yun, NAR chief economist, said there is still some delay between shopping and closing that affected current sales. “Most of the completed deals in January were based on contracts in November and December. People who got into the market after the home buyer tax credit was extended in November have only recently started to offer contracts, so it will take a couple months to close those sales,” he said. “Still, the latest monthly sales decline is not encouraging, and raises concern about the strength of a recovery.”
Inventory Levels
Total housing inventory at the end of January fell 0.5 percent to 3.27 million existing homes available for sale, which represents a 7.8-month supply at the current sales pace, up from a 7.2-month supply in December. Raw unsold inventory is 9.6 percent below a year ago, and is at the lowest level since March 2006.
“Activity should be picking up strongly in late spring as buyers take advantage of the tax credit, which is critical to absorb distressed properties reaching the market and to continually chip away at inventory,” Yun said. “With a downtrend in the number of homes on the market, especially in the lower price ranges, values are beginning to firm but with great variance around the country.”
Median Home Prices
The national median existing-home price for all housing types was $164,700 in January, unchanged from a year earlier. Distressed homes, which accounted for 38 percent of sales last month, continue to downwardly distort the median price because they typically are discounted in comparison with traditional homes in the same area.
A parallel NAR practitioner survey shows first-time buyers purchased 40 percent of homes in January, down from 43 percent in December. Investors accounted for 17 percent of transactions in January, up from 15 percent in December; the remaining sales were to repeat buyers. The survey also shows that buyer traffic increased 9.4 percent in January.
NAR President Vicki Cox Golder said buying a home in the current environment has become more challenging. “First-time buyers and others who need a mortgage are increasingly losing out to all-cash investors for the best bargains in many areas, particularly for foreclosed homes where cash is king,” she said.
“Inventory conditions vary by price range, and of course there are major differences depending on location. REALTORS® are the best buyer resource for strategies on winning bids in increasingly competitive markets,” Golder said. “The bidding for more desirable homes will only accelerate between now and the April 30 contract deadline to qualify for a tax credit of up to $8,000.”
According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage edged up to 5.03 percent in January from 4.93 percent in December; the rate was 5.05 percent in January 2009.
Single-Family Homes and Condos
Single-family home sales fell 6.9 percent to a seasonally adjusted annual rate of 4.43 million in January from a level of 4.76 million in December, but are 8.6 percent above the 4.08 million pace in January 2009. The median existing single-family home price was $163,600 in January, down 0.4 percent from a year ago.
Existing condominium and co-op sales dropped 8.1 percent to a seasonally adjusted annual rate of 620,000 in January from 675,000 in December, but are 38.1 percent above the 449,000-unit level a year ago. The median existing condo price was $172,400 in January, which is 1.4 percent higher than January 2009.
Regional Performance
Existing-home sales in the Northeast fell 10.9 percent to an annual pace of 820,000 in January but are 22.4 percent above a year ago. The median price in the Northeast was $245,300, a gain of 8.8 percent from January 2009.Existing-home sales in the Midwest declined 6.9 percent in January to a level of 1.08 million but are 8.0 percent higher than January 2009. The median price in the Midwest was $130,300, which is 1.0 percent below a year ago. In the South, existing-home sales dropped 7.4 percent to an annual pace of 1.87 million in January but are 12.0 percent above a year ago. The median price in the South was $140,200, down 2.0 percent from January 2009. Existing-home sales in the West declined 5.2 percent to an annual rate of 1.28 million in January but are 7.6 percent higher than January 2009. The median price in the West was $203,400, down 5.8 percent from a year ago.
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com
Existing-Home Sales Down, Prices Steady
Existing-home sales fell in January but are above year-ago levels, according to the National Association of REALTORS®.
Existing-home sales — including single-family, townhomes, condominiums, and co-ops — dropped 7.2 percent to a seasonally adjusted annual rate of 5.05 million units in January from a revised 5.44 million in December, but remain 11.5 percent above the 4.53 million-unit level in January 2009.
Lawrence Yun, NAR chief economist, said there is still some delay between shopping and closing that affected current sales. “Most of the completed deals in January were based on contracts in November and December. People who got into the market after the home buyer tax credit was extended in November have only recently started to offer contracts, so it will take a couple months to close those sales,” he said. “Still, the latest monthly sales decline is not encouraging, and raises concern about the strength of a recovery.”
Inventory Levels
Total housing inventory at the end of January fell 0.5 percent to 3.27 million existing homes available for sale, which represents a 7.8-month supply at the current sales pace, up from a 7.2-month supply in December. Raw unsold inventory is 9.6 percent below a year ago, and is at the lowest level since March 2006.
“Activity should be picking up strongly in late spring as buyers take advantage of the tax credit, which is critical to absorb distressed properties reaching the market and to continually chip away at inventory,” Yun said. “With a downtrend in the number of homes on the market, especially in the lower price ranges, values are beginning to firm but with great variance around the country.”
Median Home Prices
The national median existing-home price for all housing types was $164,700 in January, unchanged from a year earlier. Distressed homes, which accounted for 38 percent of sales last month, continue to downwardly distort the median price because they typically are discounted in comparison with traditional homes in the same area.
A parallel NAR practitioner survey shows first-time buyers purchased 40 percent of homes in January, down from 43 percent in December. Investors accounted for 17 percent of transactions in January, up from 15 percent in December; the remaining sales were to repeat buyers. The survey also shows that buyer traffic increased 9.4 percent in January.
NAR President Vicki Cox Golder said buying a home in the current environment has become more challenging. “First-time buyers and others who need a mortgage are increasingly losing out to all-cash investors for the best bargains in many areas, particularly for foreclosed homes where cash is king,” she said.
“Inventory conditions vary by price range, and of course there are major differences depending on location. REALTORS® are the best buyer resource for strategies on winning bids in increasingly competitive markets,” Golder said. “The bidding for more desirable homes will only accelerate between now and the April 30 contract deadline to qualify for a tax credit of up to $8,000.”
According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage edged up to 5.03 percent in January from 4.93 percent in December; the rate was 5.05 percent in January 2009.
Single-Family Homes and Condos
Single-family home sales fell 6.9 percent to a seasonally adjusted annual rate of 4.43 million in January from a level of 4.76 million in December, but are 8.6 percent above the 4.08 million pace in January 2009. The median existing single-family home price was $163,600 in January, down 0.4 percent from a year ago.
Existing condominium and co-op sales dropped 8.1 percent to a seasonally adjusted annual rate of 620,000 in January from 675,000 in December, but are 38.1 percent above the 449,000-unit level a year ago. The median existing condo price was $172,400 in January, which is 1.4 percent higher than January 2009.
Regional Performance
Existing-home sales in the Northeast fell 10.9 percent to an annual pace of 820,000 in January but are 22.4 percent above a year ago. The median price in the Northeast was $245,300, a gain of 8.8 percent from January 2009.Existing-home sales in the Midwest declined 6.9 percent in January to a level of 1.08 million but are 8.0 percent higher than January 2009. The median price in the Midwest was $130,300, which is 1.0 percent below a year ago. In the South, existing-home sales dropped 7.4 percent to an annual pace of 1.87 million in January but are 12.0 percent above a year ago. The median price in the South was $140,200, down 2.0 percent from January 2009. Existing-home sales in the West declined 5.2 percent to an annual rate of 1.28 million in January but are 7.6 percent higher than January 2009. The median price in the West was $203,400, down 5.8 percent from a year ago.
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com
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