Posts by : Alan Donald

Seller's Remorse is Returning to Charleston!

With the change in market dynamics from a Buyer's Market to a Seller's Market, many areas of Charleston are experiencing low inventory. Areas such as Mount Pleasant and James Island are experiencing multiple contract offers as a common occurrence.

Sellers may sign a contract and then hear that the market continues to move up, so they may become remorseful and think that he/she maybe didn't get enough. He/she may also become reluctant to do any repairs.

Different markets bring different problems. Experience counts! Hire a seasoned Realtor who has lived through different market cycles and knows how to anticipate potential issues to avoid...

Upcoming Changes in the Mortgage Industry Will Affect Buyers and Sellers

It seems that after the mortgage "meltdown" changes are the "new normal". There are three big changes coming upon our industry which will take into effect on August 1, 2015.

In this video Alan Donald and Jim Duffy from Atlantic Bay Mortgage discuss some of these changes and how they could affect the consumer...

For more information about mortgages, please fill out this short form

Or call us on 843-900-0155.

Charleston Real Estate Market Update: Busiest Jan-Feb Ever!

The Charleston, SC real estate market continues to outperform other markets in the region!

January and February 2015 were the best Jan/Feb ever!

Back in 2007, we had 2 weeks in Jan/Feb with over 300 residential properties going under contract, and that was the only time that this had ever happened until this year. In 2015, 5 of the first 8 weeks of the year had over 300 properties go under contract.

This could shape up to be the best year ever for Charleston real estate. Prices are rising steadily, but appreciation appears to be more sustainable this time.

So far, every purchaser needs to have good credit and jump through ...

What's Happening In Charleston, SC? - March 2015 Edition

After a cold February, March is finally here. Charleston shared the weather pain with the rest of the nation (minus the snow and ice). March brings us longer days, azaleas at the Flowertown Festival, St. Patrick’s Day, the Food and Wine Festival, Fashion Week, and the Bridge Run.

Here’s a list of upcoming events to keep you and your family busy:

3/4-8 BB&T Food + Wine Festival

3/7 Brazil Fest – Hungry Monk Music

3/7,8 Center for Birds of Prey Grand Reopening and Photo Day

3/8 Daylight Savings begins

3/9 Tango Buenos Aires – Sottile Theatre

3/11-15 Charleston Art and Antique Forum

3/13,14 Charleston Tells Storytelling – Wrag...

To Condo or Not to Condo – That Is The Question...

Many would-be home buyers including first-time home buyers, empty nesters and retirees consider buying a condominium (or a condo title townhome), instead of a fee-simple, single family home. The most common reasons for considering a condo are:

• Price (normally condos are cheaper)

• Low maintenance – easy (lock and go)

• Amenities (I.e. pool, exercise room, tennis courts)

• Location (if close to place of work)

We advise our buyer clients need to ask additional questions to determine if a condo is the right fit for their personality, financial situation and desired lifestyle. Here are some of the issues we suggest explori...

Have you ever thought about your "ELECTRONIC ESTATE PLANNING"?

Here is what estate planning attorney Allison Farina Van Nostrand​ wrote on this subject - very interesting!:

"This week, Facebook has announced that it has now added an option for you to designate a “Legacy Contact.” A “Legacy Contact” is person of your choice who would be able to handle your account after your death, ie. make a final posting on your page to your friends or provide information that you choose. If you have a FACEBOOK Account, this should be done in addition to the provisions I add in your planning documents.

Click on the first article on our website to read more about it: http://www.farinalaw.com/Page...

2014 was a tremendous year for real estate in Charleston. We sold over 13,500 homes with a median sales price of $222,000 (the graph shows the 12-month rolling average for sales in the last 3 years). That was a 7.4% increase in transactions over 2013, which was also a great year. And the median sales price was the highest ever for the Charleston area, a 5.7% increase over the median price in 2013.

[Our team almost doubled our sales from 2013 to 2014, and we are now in the Top 2% in sales for the Charleston MLS. Our average Sold/List Price Ratio was 97.21% in 2014, compared to the MLS average of 91.93%]

Short sales and foreclosures are now a very small part of the market here. New cons...

What's Happening In Charleston, SC? - February 2015 Edition

The best thing about February is that we only have about another 4-6 weeks of this cold weather! But there is a lot to do in Charleston in February.

The largest event is the Southeastern Wildlife Expo on Feb. 13-15th. In addition you have:

• WWE Live: Feb 6 Wrestling @ North Charleston Coliseum
• Cirque de la Symphonie: Feb 7 @ North Charleston PERFORMING ARTS CENTER
• Kathleen Madigan: Feb 7 @ The Charleston Music Hall
• Glen Hansard: Feb 8 @ The Charleston Music Hall
• Ingrid Michaelson: Feb 9 @ The Charleston Music Hall
• The Book of Mormon: Feb 10-15 @ North Charleston PERFORMING ARTS CENTER
• Jason Aldean: Feb 14 @ North Char...

Charming One-story Home For Sale in Belle Hall
Close to Beaches, Ready to Move In

This charming 3-bedroom ranch home is in move-in condition and ready to be occupied! This home has an open plan with tall ceilings and an upgraded kitchen with granite countertops, cherry cabinets and stainless steel appliances. 

The living room has a fireplace and opens up to the eat-in dining area and sunroom.  The spacious master bedroom has a walk-in closet and a bathroom with dual sinks. The other two bedrooms are located on the opposite side of the home and share a second bathroom.

Details: 229 Mossy Oak

Showings & Information: 800-294-1074 code 4098

Our Average Sold Price/Original List Price ...

Never Get Bored in Charleston, SC - December Events

No matter how you spell it, the holiday season is special for everyone. The Lowcountry takes its holidays seriously. Take part in all that we have to offer and fill your hearts with the joy of the season.

With Thanksgiving falling so late in November, there’s a slight pause before the holiday celebrations begin. Between the neighborhood drop-ins, the office parties and friendly get-togethers, there are some large scale gatherings planned throughout the area. 

Right out of the gate, we have Hanukkah from the 16th through the 24th. Christmas falls on a Thursday, the 25th. Boxing Day is the 26th, also the first day of Kwanzaa which runs ...

This story came from our client Jerry Garner, Reverse Mortgage Specialist with TowneBank Mortgage. We thought it would be of interest to share it. 

"Mr. and Mrs. Grace (ages 62 & 66)  were living comfortably on Johns Island (they moved here from the upstate 2 years ago), until their daughter went thru a divorce and she and the grandkids needed financial help.  The Grace’s did what most parents would do and agreed to offer the support and welcomed them back home (for a while)…after a few months, they consulted with their financial advisor to make sure they had the money to help their daughter and grandkids and learned they did not have enough savings to maintain their own personal l...

Where are the Opportunities in Charleston, SC?

Interesting Real Estate Facts: The graph shows Months of Inventory (MOI) for the Charleston, SC residential market. MOI measures the relationship between supply and demand, and tells buyers and sellers whether the market is a "hot" (seller's) market (below 5 months) or a "slow" (buyer's) market (above 7 months). 

Quick Conclusion:

Best opportunities for BUYERS in Charleston: 
Above $300K (7.9 months)

Best Opportunities for SELLERS in Charleston: 
From $100K to $200K (3.7 months)

Of course, these numbers are averages and real estate is hyper-local. 

For a quick, free, online estimate of the current value of any home visit www.Cha...

CHARLESTON REAL ESTATE MARKET:
Is The Recent Boom Sustainable?

The Charleston, SC real estate market here is setting records for buying activity this time of year:  We are experiencing record highs for the number of properties going under contract each week, and we may set an all-time record for the whole year. 

Year-to-date, median sales price in the Charleston Metro Area went up to $222,000 (an all-time high for the Charleston area and up by 6.5% over 2013).  And number of transactions increased to more than 10,000 (up by 6.2% over 2013) in just the first 3 quarters. 

Mount Pleasant continues to be the most popular area for buyers with median sales price in the $350,000 range.  I...

NEVER GET BORED:  NOVEMBER  EVENTS

Charleston, SC was just voted #1 City in the U.S. by Travel and Leisure (T&L) Magazine for the 4th year in a row, and #2 City in the World (behind Florence, Italy).  T&L also named Kiawah Island as the Top Island in the U.S. and the 2nd best in the World. 

Trip Advisor named Halls Chop House as the 4th best restaurant in the US and Circa 1886 came in at #12.

Here are some great events for you to attend in November:

• Nov 8: The 1st Annual Folly Beach Battle of Bags (Corn Hole Competition);
  
• Nov 9: The 21st annual Charleston Cup Steeplechase Race at Stono Ferry;
  
• Nov 14: The James Island Holiday Festival of Lights begins;
  
• Nov 27: The 37th A...

HUNGRY KIDS? KIDS EAT FOR FREE IN CHARLESTON (*)

Mondays and Wednesdays are the best days in terms of choices to go get free meals for your children. Please contact your restaurantof choice before heading over, as these specials are subject to change.

Here is a partial list of restaurants in Charleston that offer free meals for kids:

(*) Information gathered from http://www.outtoeatwithkids.com/, deemed reliable but cannot guarantee it, please call restaurant in advance.
(**) Reduced Prices Only

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Foundation For A Mortgage (Key Items Lenders Look For In A Mortgage Application)

If you are still renting, the above graph shows half of the story of why you may wish to consider buying a home (the other half is the prevailing low interest rates on mortgage loans). Bobby Green, an experienced mortgage lender with Starkey Mortgage, sent us this information that we thought would be useful for anyone getting (or thinking about getting) a mortgage loan. 

1. CREDIT – Does the borrower’s credit meet the minimum guidelines? Is the credit score above the minimum? Are their any liens or judgments? The minimum credit score for Conventional is 620 (without MI) 660 with MI. FHA goes down to 580. ...

SPECIAL FINANCING FOR FIXER UPPERS!

We never thought we would see mortgage rates below 4% in our lifetime again...

Huge Rate Drop Today!

If you are THINKING of buying or refinancing, act NOW!

Call us on 843-900-0155.

Carolina Walk
New Luxury Townhomes in the Heart of Mount Pleasant

National builder Pulte Homes just released preliminary information about their newest project in Mount Pleasant, SC: Carolina Walk, located near Towne Center shopping mall. 

Carolina Walk will offer two floor plans, starting from $375,990. All the town homes will come with standard luxury finishes, including granite countertops, stainless steel appliances, and many energy efficient features. 

For a copy of the floor plans and additional information please call us on 843-900-0155. 

Why hire us to buy a new construction home? Watch this VIDEO TESTIMONIAL from clients who purchased a new construction home at Tupelo in Mount...