Posts filed under Real Estate



Charleston, SC Real Estate Market Update: December 2017 Edition

Wed, Nov 29th 2017 2:50 pm by Alan Donald Real Estate

Charleston's Upper Peninsula: Red Hot Area!

9 Lowndes Pointe Dr. CharlestonThe Upper Peninsula Area (Area 52 in the MLS, which includes neighborhoods like East Side, West Side, North Central, Wagener Terrace, Longrove, Hampton Park) is one of the areas where property prices have increased rapidly, above the average for the Charleston Area. The graph below (click to enlarge) shows the Median Price for Area 52 compared with the whole Charleston Metro Area. The median price for a home in this area has gone up from $188K in 2007 to $435K today. The most expensive active listing at this time is the $1.79M deep waterfront home at 9 Lowndes Pointe Dr. that comes with a gorgeous pool (shown in the picture). 

The exceptiona...




7 Reasons to List Your Home This Holiday Season

Mon, Nov 13th 2017 3:47 pm by Alan Donald Real Estate

7 Reasons to List Your Home This Holiday Season

7 Reasons to List Your Home This Holiday Season | MyKCM

Every year at this time, many homeowners decide to wait until after the holidays to put their homes on the market for the first time, while others who already have their homes on the market decide to take them off until after the holidays.

Here are seven great reasons not to wait:

  1. Relocation buyers are out there. Many companies are still hiring throughout the holidays and need their employees in their new positions as soon as possible.
  2. Purchasers who are looking for homes during the holidays are serious buyers and are ready to buy now.
  3. You can restrict the showings on your home to the times you want it shown. You will re...



Charleston, SC Real Estate Market Update: September 2017 Edition

Sat, Sep 2nd 2017 7:07 pm by Alan Donald Real Estate

Hot Markets: James Island and West Ashley

The total eclipse brought a lot of national attention to Charleston, it was a great experience to watch it from here.

Not that we really needed the attention, as being voted #1 City in the US so many times has taken care of getting Charleston well known nationally and internationally.

Demand for real estate continues to rise as more jobs are created an the supply side has responded and new home builders are starting new projects all over the Tri-County area. Johns Island is teeming with new projects! Approximately one third of all the homes currently under contract are new construction. In certain areas (like Mount Pleasant North of IOP Con...




So, How Is the Market? June 2017

Sat, Jun 3rd 2017 11:22 am by Alan Donald Real Estate

Charleston SC is doing very well economically and its population is growing steadily - our real estate market is simply a reflection of that. 

Year to date, we are up 10% in terms of number of transactions - if we continue like this, 2017 will likely be the busiest year we’ve ever had. 

Median price is up a modest 4.3% to $247,000.  However, many specific areas are up much higher than that.  Mount Pleasant continues to be a highly demanded area because of schools, amenities and the proximity to the beaches.  The median price per square foot in Mount Pleasant is now over $200/sq.ft.

James Island is a favorite for those wanting to be close to Downtown Historic Charleston and the "hi...




Is the Current Pace of Home Sales Sustainable?

Mon, May 1st 2017 5:02 pm by Alan Donald Real Estate

Is the Current Pace of Home Sales Maintainable? | MyKCM

There are some experts questioning whether the current pace of residential home sales is maintainable. Are too many people buying homes like in 2004-2006? Are we headed for another housing crisis? Actually, if we look closely at the numbers, we can see that we are looking at a very healthy real estate market.

Why the concern?

Some are looking at the last four years of home sales and comparing them to the three years just prior to the housing bubble. Looking at the graph below, we can understand that thinking.

Is the Current Pace of Home Sales Maintainable? | MyKCM

However, if we go further back in history, we can see the real picture. After taking out the “boom & bust” years, the pace of sales is growing at quite a natural p...




The Connection Between Home Prices & Family Wealth

Wed, Mar 8th 2017 3:57 pm by Alan Donald Real Estate

Over the next five years, home prices are expected to appreciate 3.22% per year on average and to grow by 17.3% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey.

So, what does this mean for homeowners and their equity position?

As an example, let’s assume a young couple purchased and closed on a $250,000 home in January. If we look at only the projected increase in the price of that home, how much equity will they earn over the next 5 years?'

The Connection Between Home Prices & Family Wealth | MyKCM

Since the experts predict that home prices will increase by 4.4% this year alone, the young homeowners will have gained $11,000 in equity in just one year.

Over a five-year period, their equity will increase b...



2 Tips to Ensure You Get the Most Money When Selling Your House

Mon, Dec 19th 2016 3:00 pm by Alan Donald Real Estate

2 Tips to Ensure You Get the Most Money When Selling Your House

2 Tips to Ensure You Get the Most Money When Selling Your House | MyKCM

Every homeowner wants to make sure they get the best price when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensuring you get the highest price possible.

1. Price it a LITTLE LOW 

This may seem counterintuitive. However, let’s look at this concept for a moment. Many homeowners think that pricing their home a little OVER market value will leave them room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below).

2 Tips to Ensure You Get the Most Money When Selling Your House | MyKCM

Instead of the seller trying to ‘win’ the negotiation with one buyer, they should pr...




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Why You Shouldn't Take Your House Off the Market During the Holidays

Thu, Dec 15th 2016 9:43 am by Alan Donald Real Estate

Why You Shouldn't Take Your House Off the Market During the Holidays

If you are one of the many homeowners who is debating taking your home off the market for the next few weeks, don't! You will miss the great opportunity you have right now!

The latest Existing Home Sales Report from The National Association of Realtors (NAR), revealed that the inventory of homes for sale has dropped to a 4.3-month supply.

Historically, a 6-month supply is necessary for a 'normal' market, explained below:

Why You Shouldn't Take Your House Off the Market During the Holidays | MyKCM

There are more buyers that are ready, willing, and able to buy now than there have been in years! The supply of homes for sale is not keeping up with the demand of these buyers.

Bottom Lin...




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Will Increasing Mortgage Rates Impact Home Prices?

Thu, Dec 8th 2016 9:30 am by Alan Donald Real Estate

Will Increasing Mortgage Rates Impact Home Prices?

However, history shows us that this has not been the case the last four times mortgage interest rates dramatically increased.

Here is a graph showing what actually happened:

Will Increasing Mortgage Rates Impact Home Prices? | Simplifying The Market

Last week, in an article titled “Higher Rates Don’t Mean Lower House Prices After All, the...




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Why Waiting Until After the Holidays to Sell May Not Be a Smart Decision

Wed, Nov 16th 2016 9:46 am by Alan Donald Real Estate

Why Waiting Until After the Holidays to Sell May Not Be a Smart DecisionWhy Waiting Until After the Holidays to Sell Isn’t a Smart Decision | MyKCM

Did you know that from October until December of last year 3,550 homes closed in the Charleston Area?

Every year at this time, many homeowners decide to wait until after the holidays to put their homes on the market for the first time, while others who already have their homes on the market decide to take them off until after the holidays. Here are six great reasons not to wait:

  1. Relocation buyers are out there. Companies are not concerned with holiday time and if the buyers have kids, they want them to get into school after the holidays. 
  1. Purchasers that are looking for a home during the holidays are ...



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Real Estate Market Update: Are We in a Bubble?

Wed, Aug 31st 2016 11:02 am by Alan Donald Real Estate

There are some industry pundits claiming that residential home values have risen too quickly and that current levels are on the verge of another housing bubble. It is easy to see how this thinking has taken form if we look at a graph of home prices from 2000 to today.

Real Estate Median Price USThe graph definitely looks like a rollercoaster ride. And, as prices begin to reach 2006 levels again, it "seems logical" that the next part of the ride would be downhill. However, this graph includes the anomaly of the price bubble and the correction (the housing crash).

What if the bubble & bust had not happened?

Let's assume that instead of the rise and fall in home prices that we saw last decade, we just had normal ...



Top Three Remodeling Projects That Buyers Love

Thu, Aug 25th 2016 9:11 am by Alan Donald Real Estate

Remodeling your home can be a big investment – in both time and money – so it is important to choose projects wisely.
According to an October 2015 survey by the National Association of REALTORS®, the following projects are going to be your best bets for attracting buyers when you decide to sell:

Kitchen Renovation / Kitchen Upgrade

Bathroom Renovation / Adding a New Bathroom

 New Master Suite / Owner's Suite


Call me today if you're thinking of remodeling your home. I have an extensive network of experienced professionals that I would love to put you in touch with. I will also show you how much your home is worth in today's market, before and after the renovations.

If anyone you kno...




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Charleston SC Mid-Year Real Estate Market Update

Mon, Jul 4th 2016 11:10 am by Alan Donald Real Estate

Charleston SC Mid-Year Real Estate Market Update

Closed Home Sales 2016 Q1 Q2Highlights
(click graphs & charts to enlarge)

  • The Charleston Area is experiencing high growth, and our real estate market is hot. We are in a clear "seller's market" with 3.4 Months of Inventory.
  • Median home price is up to $249,500. The cheapest home sold in the last 6 months for $10,000 in Walterboro. The most expensive home sold for $7.51M in Downtown Charleston.
  • Selling activity has been brisk: 8,700 homes sold in the first half of the year, up by 10% over 2015.
  • The average home in Charleston SC sells in 55 days and for 97% of list price
  • The "hottest" areas of Charleston as of June 2016 were: Hanahan, James Island, and N. Charlest...



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In a Seller’s Market: Is it Time to Downsize?

Thu, May 19th 2016 9:53 am by Alan Donald Real Estate

In a Seller’s Market: Is it Time to Downsize?

Senior Couple at the BeachA study by Edelman Berland reveals that 33% of homeowners who are contemplating selling their house in the near future are planning to scale down. Let’s look at a few reasons why this might make sense for many homeowners, as the majority of the country is currently experiencing a seller’s market.

In a recent blog, Dave Ramsey, the financial guru, highlighted the advantages of selling your current house and downsizing into a smaller home that better serves your current needs. Ramsey explains three potential financial advantages to downsizing:

  1. A smaller home means less space, but it also means less time, stress and money spent on upkeep.
  2. L...



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Real Estate Market Update January - May 2016

Fri, May 6th 2016 8:00 am by Alan Donald Real Estate

Real Estate Market Update January - May 2016

It has been an amazing year for real estate activity in the Charleston, SC area. We are up 7.1% in number of transactions year-to-date over the same period in 2015. And our median sales price went up by 5.3% to $237,000 during the same period. 
But growth has not been uniform across all the MLS areas in Charleston: There are a number of areas where the # of transactions is down from 2015. We may be able to explain this: This can be explained by the fact 2015 was a fabulous year in terms of volume, which is hard to beat. Also, inventory is very low, which may cause a reduction in the number of transactions. 
Only a handful areas are down in...



Dealing With Multiple Offers

Fri, Apr 29th 2016 4:47 pm by Alan Donald Real Estate

Dealing With Multiple Offers

In a "hot" market like the Charleston, SC market is in right now, multiple offers have become a common occurrence. The South Carolina Association of Realtors has written a new form to deal with multiple offers, so that listing agents can notify all buyers' agents of a multiple offer situation. In this short video Alan Donald discusses how multiple offers are dealt with. 



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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Charleston SC July 2015 Real Estate Market Update: Hot Market Continues!

Wed, Jul 1st 2015 10:12 am by Alan Donald Real Estate

Charleston SC Real Estate Market Update: Hot Market Continues!

The real estate market here continues to be one of the best in the country. Supply is holding pretty steady and demand is very high. Most listings don’t stay long on the market before they are sold at almost full list price. It’s important to have a well-connected and diligent Buyer's Agent working for you in this market, as he/she may be able to find the home you are looking for before it comes on the market. In the last few months we have sold three homes before they were put in the MLS.

Multiple offer situations are becoming common (once again!). Your Buyer's Agent can help buyers put together an offer that will beat all ...




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