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Buyers - 4 Questions To Ask Yourself Before You Buy

Thu, Oct 15th 2015 8:25 am by Alan Donald Buyers

4 Questions To Ask Yourself Before You Buy a Home

Young first time home buyers

Whether you’re a first-time homebuyer or a seasoned real estate investor, buying a home is an exciting process. However, there’s also a lot to consider when you decide to buy. So before you begin your search for the perfect property, here are four questions you should ask yourself:

  1. What do I want? Take the time to figure out what type of property you want to buy. From single-family and multi-family homes to condos and co-ops, there are many different options on the market and it’s important to choose the type that best fits your needs. Figuring out the town or neighborhood you want to live in is equally important. While a propert...



Charleston Real Estate Market Analysis: Hot, But More Room for Growth!

Tue, Oct 13th 2015 9:24 am by Alan Donald Charleston Real Estate

Charleston Real Estate Market Analysis:
Hot, But More Room for Growth!


The year-to-date (YTD) numbers have abundant positive news for the Charleston, SC area. Overall, we are up 15.4% (YTD) in number of transactions and we're on track to sell just over 15,000 homes this year, which will make 2015 the 3rd best year ever in terms of number of sales.
Our median home price is up a modest 5.2% to $232,500.
Supply & Demand CHS Mkt Oct 2015
Many in our industry are glad to see home prices rising at a reasonable and sustainable pace. And we're still undervalued according to the trend line back to 1991. The chart below plots the trend line vs. the actual numbers. As you can appreciate, our current values are still below ...



What's In It For You? The Benefits of Hiring a Realtor

Fri, Oct 9th 2015 11:51 am by Alan Donald Buyers

WHY DO YOU NEED A REALTOR?

As a team of licensed real estate professionals we provide much more than the service of helping you find your ideal home. Realtors are expert negotiators with other agents, seasoned transaction advisors with clients, and superb navigators around the local real estate market. We are members of the Charleston Trident Association of Realtor, the South Carolina Association of Realtors and the National Association of Realtors (NAR) - we must abide by the Code of Ethics and the Standards of Practice enforced by NAR.

As knowledgeable and experienced Realtors we will:

  1. Streamline the process.  Save you endless amounts of time, money, energy and frustrati...




NEWS FLASH - Termite Bonds & Floods

Wed, Oct 7th 2015 10:45 am by Alan Donald Alans Listings

NEWS FLASH - Termite Bonds & Floods

Alan Donald with Keller Williams reveals an important fact about termite bonds and flooding. 




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*** TO-DO LIST AFTER THE SOUTH CAROLINA STORM ***

Wed, Oct 7th 2015 9:42 am by Alan Donald Charleston

Thank you to our colleague Michelle Melton for putting this guide together:

Flooded Home

In South Carolina have just experienced what Governor Haley has described as a 1,000 year event - the flood of 2015.

It's sunny today and the waters are starting to recede however there is said to be more water coming our way with the dams that have been breached and rivers still on the rise. Its a good time to give your home a quick inspection and be prepared.

Follow the instructions below:

• Whether a flood is caused by ground water, falling water, or home water system malfunction, there are some best practices you’ll need to employ as soon as possible after the flood to ensure the safety of your home and ...




New Fannie Mae Loan Program

Fri, Oct 2nd 2015 10:41 am by Alan Donald Mortgages

MORTGAGE NEWS

Still renting?

Need more space?

Mom & Daughter

Fannie Mae (the large mortgage loan holding company) decided to replace the MyCommunity Loan Program (which was targeted at first-time home buyers) with a new HomeReady Program.

PROGRAM HIGHLIGHTS


• Low down payment of 3%
• REDUCED Mortgage Insurance
• No First-Time Home Buyer requirement
• No minimum requirement of borrower’s own funds
• Non-occupant co-borrowers allowed
• Non-traditional credit allowed
• Gifts and grants allowed
• Homeownership education required
• One-unit principal residences only

Call/text 843-900-0155 to schedule a FREE, NO-OBLIGATION Buyer Consultation. Click HERE to request more information on mortgage loans...




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Events, News and Activities for Charleston, SC - October 2015 Edition

Wed, Sep 30th 2015 10:00 am by Alan Donald Events

October is here and we finally will get rid of the humidity and feel more like fall here in Charleston. This month is filled with great activities including the beginning of the Coastal Carolina Fair on October 29. 

Taj Majal

Here is your calendar for October:

Sept. 24-Oct. 4-MOJA Arts Festival
1-Screwtape Letters, N Chas PAC
2-Judy Collins, Chas Music Hall
3- Hogs for the Cause Cancer Benefit, Grove at Patriots Point
6-Brandi Carlile, N Chas PAC
Brandi Carlisle
10-Lowcountry Pet Expo, Convention Center



Charleston SC Real Estate Market Update - October 2015 Edition

Wed, Sep 30th 2015 10:00 am by Alan Donald Charleston Real Estate

The U.S. Market shows strong trends - NAR reports the strongest year after the recession. The attached graph shows monthly sales for the country:
US Home Sales October 2015
In Charleston, our real estate market continues to be very strong in terms of buying activity. 
Year to date we are up by 15.8% in terms of number of transactions and up by 4.4% on median sales price over 2014. We may sell over 15,000 homes this year and the median sales price will go up to over $230,000.
Demand is still exceeding supply, as shown in the Months of Inventory Graph below (6 months denotes a "neutral" market), so prices are climbing. 
Months of Inventory Charleston SC Real Estate Oct 1 2015
Each week we are setting records for the number of properties that go under contract com...



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Events, News & Activities for Charleston, SC - September 2015 Edition

Tue, Sep 1st 2015 9:45 am by Alan Donald Alans Listings

Events, News & Activities for Charleston, SC - September 2015 Edition

Scottish Games in Boone HallSeptember is a lively month for Charleston and South Carolina.  The weather starts getting a little more comfortable with slightly lower humidity and some cooler evenings and mornings. There’s a lot to do in the Charleston area, including the Jazz Festival, Fall Restaurant Week, Beer Week, the Scottish Games, and the MOJA Arts Festival.

Let's have some fun!

September Events:

Sept 3 - Rockin’ the River with Plane Jane, North Charleston Riverfront Park

3-6 – 7th Annual Lowcountry Jazz Festival

4 – Blues and BBQ Cruise with Shrimp City Slim

5 – Folly Beach Fireworks show

9-18 – Fall Restaurant Week

11 – Beatles Tr...




Real Estate Market Update - September 2015

Sun, Aug 30th 2015 6:14 pm by Alan Donald Real Estate

Real Estate Market Update - September 2015

National

Click on the video below for a quick 1-minute market update for the U.S.

Local 

By subscribing to our monthly newsletter, you will get a national perspective and local expertise...

  • Monthly delivery, and you can opt-out at anytime
  • Market statistics with Alan's perspective on how it affects your house value
  • Seller tips to get your home ready to sell now or in the next year




"Erika" May Delay Closings!

Thu, Aug 27th 2015 7:23 pm by Alan Donald Real Estate

"Erika" May Delay Closings!

Are you closing on a home along the East Coast of the US in the next couple of weeks?

Buy a HomeGiven that Tropical Storm  "Erika" is heading our way, make sure you have your insurance policy all stitched up ASAP, as it is customary for all insurance carriers to ban all new policy sales when there is an impending storm headed our way, and this could significantly delay closings, ev hit en if the storm does not come close to Charleston.

Please pass this on to friends who may not know this...

Alan




Is The Stock Market Correction Good or Bad For Real Estate?

Mon, Aug 24th 2015 8:48 am by Alan Donald Real Estate

Is The Stock Market Correction Good or Bad For Real Estate?

Dow Jones Industrial AverageLast week the Dow Jones Industrial Average went from 17,500 to 16,500. What kind of effect does a correction like this one have on the housing and real estate markets?

The reality is that a stock market slump could be good and bad for real estate. 

If the correction in stock market prices is just a financial adjustment caused by overheating and speculation, with no long term implications for the economy, then bond prices will soar, and the slump will place a hold on any interest rate hike, which will be good for the affordability of real estate, as it will keep mortgage interest rates low. 

In addition, real estate will get a...




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Mount Pleasant Market: Running Out of Steam?

Mon, Aug 10th 2015 8:15 am by Alan Donald Mt Pleasant Real Estate Market

Mount Pleasant Market: Running Out of Steam?

Author: Alan Donald. August 7, 2015
Note: This article refers to general area information, but real estate sometimes is "hyper-local", which means that certain neighborhoods may behave differently that their areas. Click Here if you are interested in buying a home in the Charleston Area and want information about a particular neighborhood. 

We have always maintained that in real estate, the Mount Pleasant market is to the rest of the Charleston like the California market is to the US in terms of technology trends: Everything happens first in Mount Pleasant, and then it "filters through" to the other areas. 

Case in point: The Mount Pleasant r...



Real Estate Market Update for Charleston, SC - August 2015

Tue, Aug 4th 2015 9:15 am by Alan Donald Charleston Real Estate

Real Estate Market Update for Charleston, SC - August 2015

Of course, with all the international kudos, awards and positive press, people around the world have found us and many are moving here.  So, our real estate market is one of the best in the US.

Through the first half of 2015 we are up by 17.5% in number of transactions over the same time period from 2014. We will easily sell over 14,000 homes this year and it will be the 3rd most active year ever.

Meanwhile, prices are rising, albeit at a lower, sustainable rate. Our median sales price is up 3.3% over the same period from 2014.

Our median home sales price is over $230,000 - the highest ever for Charleston. However, prices pe...




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8 Tips For Buying New Construction Homes in Charleston, SC

Sun, Aug 2nd 2015 1:25 pm by Alan Donald Buyers

8 Tips For Buying New Construction Homes in Charleston, SC

We work with a lot of home buyers who end up purchasing new construction homes and have found that they many of those buyers ask the same questions.  So, we decided to put together a list of our "Top 8 Tips for Buying a New Construction Home"...

Watch Alan Donald & Meghan Bowes from The Alan Donald Real Estate Team discuss some of the top tips for buying new construction homes in the Charleston, SC area:

Download:  8 Tips For Buying A New Construction Home

If you or someone you know are considering purchasing a home in the Charleston area, give us a call to discuss your options (no obligation), 843-900-0155.

We are here t...




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Changes Coming in Lending Guidelines

Fri, Jul 31st 2015 4:18 pm by Alan Donald Mortgages

Changes Coming in Lending Guidelines

Courtesy of Jim Duffy of Atlantic Bay Mortgage 

"Conventional is getting easier; Government is getting tighter"
Home Buyers
Changes are coming up in mortgage lending industry, some of which may affect home buyers.

A. Fannie Mae: Vested Retirement Funds can be used more easily. If they don't need the whole amount for down payment, then we do not need verification that the funds are liquidated from the retirement accounts. Translation: Less paperwork for buyers = happier buyers.

B. USDA Rural Housing: The Guarantee Fee (the fee that is added to the loan amount) is rising from 2% of loan amount to 2.75% of the loan amount. Bummer. That starts Oct 1so if you are plan...




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Tax-Free Weekend Coming Up August 7th-9th

Wed, Jul 22nd 2015 8:31 am by Alan Donald Taxes

Tax-Free Weekend Coming Up August 7th-9th

​The popular Sales Tax Holiday weekend in South Carolina will begin Friday, August 7 at 12:01 a.m. and end Sunday, August 9 at midnight.

During the annual Sales Tax Holiday, shoppers will benefit from an exemption of the 6% state sales tax and any applicable local taxes on the purchase of school supplies.
In addition to shoppers saving approximately $3 million over the course of the weekend, the Sales Tax Holiday benefits in-state businesses by encouraging taxpayers to do back-to-school shopping in South Carolina.
 
During this time, sales tax will not be imposed on items such as clothing, shoes, school supplies, bookbags, computers, printe...



Mid-Year Real Estate Market Update for Charleston, SC July 2015

Wed, Jul 15th 2015 3:30 pm by Alan Donald Charleston Real Estate

Mid-Year Real Estate Market Update for Charleston, SC July 2015

Our real estate market is very hot! Demand is high and supply is still tight, making this a "Seller's" market for most areas within the Charleston Metro.  

Year-to-date transactions are up 17.5% from 6,432 to 7,560 residential units.  We will most likely sell over 14,000 homes in 2015, which will make it the busiest year since 2006, and the 3rd best year ever in Charleston!
Our Median Sales Price is up 3.3% from $223,000 to $230,000, the highest median sales price ever achieved in Charleston! (the median sales price back in 2007 was $210,000).  See chart.
Median Price Charleston SC
Some significant changes in "market momentum" for the differe...



Matchmaking 101 for Real Estate

Tue, Jul 7th 2015 9:22 am by Alan Donald Alans Listings

Matchmaking 101 for Real Estate

A low inventory real estate market, such as the one we have now in Charleston, SC, requires thinking out of the box to service our clients.

Getting the right home for youWe recently received an inquiry from a fellow agent whose clients were looking for a home in Belle Hall, our specialty neighborhood, and could not find a suitable one, since there were not many options to choose from.

So we called a number of local homeowners who we knew were "thinking of selling", found her clients a suitable home and put the transaction together in ONE DAY, at top market price, with just one showing (minimum showing hassle for the sellers).

The buyers were able to find a suitable home in the neigh...




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