As hard as it is to believe it is Labor Day weekend – the
unofficial end to summer.
This Labor Day, AAA is predicting that 34.1 million
Americans will hit the road and travel at least 50 miles this weekend, making
it the busiest Labor Day in the last four years.
Part of the reason for this increase in travel is actually –
housing.
According to the AAA study, consumer confidence is
increasing as their home values increase. With the improvement in the housing
market, consumers feel that their largest asset, their home, is more valuable.
This increase in confidence leads to more spending and this weekend – more
travel.
This is just another piece of evidence that points to the
importance of the housing market in our overall economic recovery.
According
to a report by the South Carolina Realtors based on July 2013 figures,
sales across the state of South Carolina increased by 21%. Home prices
increased by 5% to a median price of $163,063.
The number of available homes and standing inventory has dropped to a 9
month supply of single family homes and 9.5 month supply of condos. A
six month supply of homes is considered normal.
As the economy improves and consumer confidence increases home sales
continue to rise. This bodes well for the future of the SC economy and
housing industry.
Standard features include, stainless steel appliances, cement plank
siding, raised foundation, oil rubbed bronze lighting and plumbing,
granite counters, custom built-ins, fully cased windows and doors and
much, much more! This plan has a lower level master bedroom, kitchen
island, open plan with lots of natural light. Contact Barry Cunningham Carolina One Real Estate
(843) 530-0755
If
you've done any research into buying a home you've probably come across
the term "buying power". Simply put, "buying power" is your ability to
maximize your money when purchasing a new home.
Interest rates greatly affect your buying power. Historically speaking,
today's interest rates are extremely low. This means that the money you
pay in order to
borrow money for your home is much less than it was in the past. With
lower interest rates your monthly payment is lower and you can afford a
more expensive home than you could before - thus your buying power has
increased.
Interest rates are going to slowly rise and as they do it will erode
some of your buying power. Now is the time to buy, before rates go
higher! You'll be able to afford more home than you thought possible
while the interest rates remain low. They won't be this low forever so
don't miss this opportunity to maximize your buying power!
Lowcountry Residential Builders has a new staged model home in Foster's Glenn.
The Cooper floor plan features has over 2000 square feet, 3 or 4 bedrooms, 2.5 baths and a 2-car garage.
Come visit us this weekend in Foster's Glenn! Sneak peek below.
Directions: From James Island take Maybank left on River Rd. approximately 4.8
miles on the right. Model Address will be located at 3032 Foster’s Glenn
Dr. Johns Island, SC 29455
Contact Barry Cunningham
bcunningham@carolinaoneplus.com
Office: 843.416.8342
Cell: 843.530.0755
Grilling is a great way to keep your kitchen area cool and cut down on
those high summer utility bills. To help out all the summer grill
masters here are some easy and quick recipes to keep the heat out of the
kitchen this summer. Click on each recipe header to view the full
recipe and instructions.
According to a report by the South Carolina Department of Commerce, the
leading economic indicators in South Carolina increased for the 4th
month in a row.
The combination of an increase in new-home construction and a drop in
unemployment claims contributed to the leading index numbers.
Below are some relevant statistics that attribute to these positive numbers.
Residential construction permits rose 26.3% in May compared with April.
The median sales price for a single-family home rose by 5.6% in May
The overall volume of home sales in May rose 21% compared to the same time last year.
For a look at the overall economic indicators in the report visit the Charleston Regional Business Journal HERE.
It's
the time of year when many Americans hit the road for a well deserved
summer vacation. Before you go, it's important to prepare your home for
your absence. Here are a few safety tips to keep in mind before getting
out of town.
1. If possible have someone come by while you're gone. Ask a trusted
friend to peek their head in the neighborhood when possible, maybe water
a few plants and just walk through the home every few days.
2. Make sure to stop your mail. This is a free service provided by the
post office and in most areas the request can be submitted online.
3. Like above, if you receive the newspaper, make sure to stop delivery
while you're gone. You don't want a stack of newspapers piling up while
you're gone.
4. Unplug your coffee maker, computer and any other small appliances
that won't be making the trip. Don't leave the washing machine or
dishwasher running before you go.
5. It seems simple, but make sure all the doors are locked and blinds
are closed. Double and even triple check. Especially those doors that
aren't used as often.
What are some tips you have on keeping your home safe while you're away?
The National Association of Home Builders/First American Improving
Markets Index increased again in June to now include more than 70% of
the U.S. metro areas.
The Improving Markets Index or IMI is a list of metropolitan areas that
have shown improvement through the areas of housing permits, employment
and house prices for at least the past six months.
Twenty-nine new markets were added to the list while twenty-four
previously listed markets were removed. This fluctuation is a product of
a slow recovery and confirmation that the housing industry still has
challenges to face. However the IMI list is three times larger this
year than last year according to the NAHB.
We're pleased to see Charleston, SC included on this list!
For a full list of improving markets visit the NAHB's website HERE.
Since it is the season for back yard BBQ's and summer pot lucks, we
thought you might enjoy some classic southern summer dessert ideas.
Here are some quick and tasty recipes for your next get together.
There's more good news for the housing market and new homes in particular.
According to HUD and the US Census Bureau, sales of new, single-family
homes rose by 2.3 percent in April. Regionally, new home sales rose 3
percent in the South.
A quote from an article by the National Association of Home Builders
reinforces this positive message. “Today’s report is further evidence of
the gradual, consistent
improvement we have been seeing in housing market conditions over the
past year,” noted NAHB Senior Economist Robert Denk. “We’re now about
half-way back to what could be considered a full recovery, and we do
expect to see continual, solid gains in both starts and sales of new
homes going forward.”
Interest rates remain low and house prices are trending upwards and inventory remains tight. Now is the time to buy!
To read the full article from the National Association of Home Builders please click HERE.
Foster's Glenn, Lowcountry's new home community located on Johns Island was featured in the Post and Courier this past week.
The write-up highlights Foster's Glenn unique location on Johns Island and it's proximity to Downotwn, the size of the homesites, spacious flooplans and included luxury features.
To read the whole article click here. Then come see for yourself this weekend!
Directions: From downtown Charleston, head west
over the Ashley River Bridge and veer left to Folly Road. Follow Folly
over the Wappoo Bridge and turn right on Maybank Highway. Continue on
Maybank over the Stono River bridge to Johns Island. At the River Road
intersection, turn left. Go 4.8 miles and on the right is Foster’s Glenn.
When
buyers set out to buy a "new" home, it may not always mean a home
that's never been lived in before. The home may just be new to them. But
what are the benefits of buying a home that's completely new? That
question is the inspiration behind a recently launched website called
"Start Fresh. Buy New".
Since the site launched in March of this year, it's received about
10,000 visitors a day. The goal of the site is to educate homeowners on
the benefits of buying a newly constructed home and to help them find
new homes in their area.
Some of the highlighted benefits to buying new vs. used are:
Increased energy efficiency
New home warranties
Modern construction techniques and materials
Higher ceilings
More closet space
Modern safety features
Open floor plan design
Follows latest trends in flooring, finishes, colors, and cabinetry
Time/Money saved on home repairs and updates
To visit the site and learn more about the benefits of buying a newly constructed home CLICK HERE.
What are some of the benefits you see to buying a newly constructed home?
It's Friday and we thought that would be a great time to highlight a restaurant located near our new neighborhood Foster's Glenn on Johns Island.
Our pick today is Fat Hen Restaurant - a place that prides itself on it's Lowcountry inspired French cuisine and fresh, local ingredients.
The Fat Hen is located at 3140 Maybank Hwy. Chef and Owner Fred Neuville is the founding chef and partner of several favorite Charleston restaurants. He and his wife decided to go out on their own and open The Fat Hen Restaurant and catering company.
Featured menu items include: Shrimp and Grits, Coq Au Vin, Salmon Bearnaise, Braised Short Trib and Flounder Nicoise. The restaurant also prides itself on an extensive wine list.
This Saturday kicks off the 2013 season of the Charleston Farmers Market. The market will be held in Marion Square every Saturday until December 21st.
This year's market features 29 farmers and growers from the Lowcountry with their offerings of vegetables, fruit, seafood, meat, herbs and plants.
The market is open this Saturday from 8am-2pm. Special guest local bluegrass band, Yeehaw Junction will be performing. For more information visit: http://www.charlestonfarmersmarket.com/
At the annual Economic Outlook Conference hosted by the Charleston Metro Chamber of Commerce, Mary Graham, Vice President of the Chamber, predicted continued economic growth in the Lowcountry.
The housing industry in particular is off to a strong start in 2013. This positive information confirms the overall estimation that the economy in South Carolina is gradually improving.
For the full article and analysis read the coverage of the Outlook Conference by the Charleston Regional Business Journal at the link below.
Today we're looking a little closer at Johns Island, where our new neighborhood Foster's Glenn is located.
This quiet stretch of land along the lowcountry coast offers a great shopping opportunity in Freshfields Village.
Freshfields Village is located at the intersection of Kiawah, Seabrook and Johns Island. The village includes retail, grocery and dining options as well as local events such as the Spring Concert Series going on now through April 5th.
From I-26: Take I-526 West to Highway 17 South. Travel
approximately five miles and turn left onto Main Road. Main Road becomes
Bohicket Road and then Betsy Kerrison Parkway. Follow Betsy Kerrison
Parkway to the entrance to Freshfields Village.
Magnolia's Easter Egg Hunt
3/30/2013
Magnolia Plantation
Easter Egg Hunt with Prizes for Children of all Ages! http://www.magnoliaplantation.com/
Easter Festival at Freshfield Villages
3/30/2013
Freshfields Village - John's Island
Jump castle, face painting, Easter crafts and photos with the Easter Bunny! http://freshfieldsvillage.com/
March is quickly approaching and with it - spring!
Once the chill is out of the air it's time to get back up and outside for some home maintenance.
Here are some items for your list of must-do spring sprucing.
Change your air filters - do this monthly for best use
Check for leaky faucets and clogged drains
Look for signs of pests and take preventative measures before it gets too warm
Refresh outdoor furniture
Repair or replace window screens
Declutter
What are we missing? What will you do to freshen your home for spring?
Friday, February 15, 2013
Economists: Repeat of Charleston area’s double-digit home sales growth last year possible
By JIM PARKER
The Post and Courier
In the case of South Carolina’s housing and jobs
numbers — which include greater Charleston’s — the state tends to be an
economic chart-topper.
South Carolina had a near-top
score for its six-month “state leading (economic) index” from November
through April, according to the Federal Reserve of Philadelphia and
reported Tuesday at a housing update in Charleston.
The
regional Fed’s index looks at housing permits, initial unemployment
insurance claims, employment, manufacturing hours worked and wage
outlays tempered by consumer prices.
Just two months earlier, South Carolina was the only state with a predicted half-year growth rate of more than 4.5 percent.
What
all this means is the Palmetto state carries considerable weight in
terms of its financial forecast and housing outlook — akin to the early
primary states in a presidential election.
Further,
events such as the Charleston Trident Association of Realtors’
“Residential Market Update - 2012 Year in Review” held Tuesday can be
important barometers of the country’s fiscal future.
“The
bottom line is the South Carolina economy was much stronger (last
year), nearly twice the growth of 2011,” says Joseph Von Nessen,
research economist with the Moore School of Business at the University
of South Carolina.
“Housing turned a corner in 2012
(with) increases on the local level in prices, starts and permits,” he
told more than 300 agents at the morning gathering at the Charleston
Marriott.
The most telling figure is that home sales
in metro Charleston, based on the area Multiple Listing Service, climbed
12.5 percent last year from 2011. The sizable increase was not
unexpected, Von Nessen says: This time last year, he forecast a 14
percent year-to-year surge for 2012.
Von Nessen eyes a
similar sales run-up this year, although there’s still “market
uncertainty.” This year’s expiration of a 2 percent Social Security tax
rollback — which comes out of worker’s paychecks — could “blunt growth,”
he says.
Von Nessen provided mostly state and local
economic and real estate trends. By contrast, NumberNomics economist
Stephen Slifer offered a national perspective on how President Obama and
Congress should “seize the moment” and hash out real deficit-reduction
reform in 2013.
The economist sides with a report
from the National Commission on Fiscal Responsibility and Reform,
commonly known as Bowles-Simpson. The bipartisan group of 18 leaders,
headed by former U.S. Sen. Alan Simpson and business-political adviser
Erskine Bowles, fashioned a plan in 2010. It would rein in the
debt-to-gross-domestic-product ratio — predicted to soar to 186 percent
by 2035 at current rates of GDP and debt growth — to a more manageable
40 percent within 22 years, Slifer says.
The
commission’s solutions include slashing the top tax rates to 23 percent
(from 39 percent) for individuals and 35 percent (from 26 percent) for
corporations; eliminating most tax deductions but keeping charitable and
mortgage interest deductions; cutting defense and non-military budgets
roughly the same amount; upping the retirement age to 68 while raising a
graduated Social Security payroll tax rate to $190,000 in income; and
increasing the Medicare age to 68, not covering the first $500 in
medical expenses and paying 50 percent of expenses between $500 and
$5,000.
In his remarks, Slifer also forecast a 2.7
percent GDP rise this year, the jobless rate shrinking to 7.3 percent,
inflation holding at a minuscule 1.9 percent and the 30-year mortgage
dipping to a record-low 3 percent.
“If we can do this and solve budget problems, this won’t be just a great deal but fantastic,” he says.
The Realtors event coincided with the association releasing its annual report on the Charleston Trident real estate market.
“With
a mean crossover dribble and a wicked head fake, housing is again
driving the lane with authority,” says the report, sprinkled with
basketball imagery.
“Restoring seller confidence,” the nine-page synopsis notes, “is a slam dunk to continued recovery.”
Home
prices eased upward to a median $190,000, a 4.4 percent increase from
2011 and “down only 8.6 percent from their bubbly apex in 2007,” the
report says. “They have recovered from the air ball lows of 2009.”
It concludes, “Here’s to continued improvement and a breakaway year.”
Among other findings:
•
Heading the rise in new listings in the region was Hanahan, up 21.2
percent; while Daniel Island showed the steepest drop, off 15.7 percent.
Closed sales in the Hollywood-Meggett-Ravenel area shot up 61.3
percent; They slid 30.4 percent in St. George and rural Dorchester
County. Home inventories ranged from a 1.2 percent decline in the
Wando-Cainhoy area to a 44.5 percent drop on Daniel Island. Median sale
prices rose 13.5 percent in Hollywood-Meggett-Ravenel and fell 8 percent
in St. George-rural Dorchester County. The highest townhome-condo
market share was Folly Beach at 54.5 percent.
• The
average number of days that homes were for sale in greater Charleston
last year was 100, the lowest figure in at least four years. Days on
market until sale sank 27.8 percent in Sullivan’s Island and surged 36.8
percent in rural Berkeley County.
• New-construction
homes for sale dropped below 1,000 from a peak of nearly 3,000 in
January 2008. The new-home leader by market share was Johns Island at
51.1 percent.
• Sales of distressed properties —
those with seriously delinquent or defaulted home loans — totaled 26.6
percent of all deals in 2012. The figure was off 0.9 percent from the
year before. Four years ago, just 7.4 percent of sales were of
distressed homes. Greater North Charleston reported the largest share of
distressed properties at 38.6 percent while downtown Charleston claimed
the smallest share, 9.4 percent.
For more information, visit www.charlestonrealtors.com.
Reach Jim Parker at 937-5542 or jparker@postandcourier.com
The map above shows the change in house prices by state from the past four quarters. The latest map was released at the end of the 3rd Quarter 2012. What you'll find is that home prices in South Carolina are increasing. This is great news for home owners and good motivation for potential buyers to act now before prices go even higher!
The housing recovery is vital to our country's economic rebound and we are excited to see some good news on the state of the housing market in our area.
Lowcountry Residential Builders is excited to be building in Foster's Glenn - a secluded retreat on John's Island featuring only 17 homesites.
Today we'd like to explore John's Island and what makes it a unique part of the Lowcountry landscape.
John's Island is the largest island in South Carolina and the 4th largest on the East Coast. This beautiful island features a variety of wildlife, natural scenery and history.
John's Island is home to the famous "Angel Oak" tree, the oldest tree east of the Mississippi River. The tree is estimated to be between five and fifteen hundred years old.
The community of John's Island features several unique dining establishments and shopping opportunities for those interested in getting away from the hustle and bustle of downtown Charleston.
We hope you'll come visit us out at Foster's Glenn and discover what makes John's Island such a sought after area for homebuyers in the Lowcountry.
Directions – From James Island take Maybank left on
River Rd. approximately 4.8 miles on the right. Model Address will be
located at 3032 Foster’s Glenn Dr. Johns Island, SC 29455
Charleston's Restaurant Week is back and goes through January 20th.
Enjoy "Prix Fixe" menus of 3 items each at some of the top restaurants in the city. Prices range from $20, $30 or $40. Over 120 restaurants are participating and reservations are recommended.
A free app is available to show all the participating restaurants.
Have a home to sell before you can buy a new one? Here are some tips on how to make that home as appealing to potential buyers as possible!
De-clutter: Less is more when it comes to helping potential buyers visualize themselves in your home. Remove any unnecessary items that can distract from the basic shape and feel of the home.
Curb Appeal: This is your first impression! Make sure the yard is neat and tidy. Place some potted plants or flowers on the porch. Repaint the front door and touch up the stairs. You want your home's entrance to make a positive statement.
Lock up the pets: When potential buyers come by make sure any and all pets are out of sight and out of the way for their walk through.
Consider the senses: Potential buyers will be noticing more about your home than what they see in front of them. Make sure the home smells nice - not strong and flowery but warm and inviting.
Clean: Walk through your home with a critical eye. See what stands out to you that may not normally get cleaned. Think about your bathroom mirrors, side lights, windows, tile floors, ceiling fans, etc.
The housing market is starting to rebound and you don't want anything to stop you from moving on to the Lowcountry Builders home of your dreams!
If you've sold a home recently, what worked for you?
Each year the Boston Design Center releases a report highlighting the trends in home design for the upcoming year.
We've summarized the report here so you can have a jump on your decorating!
Prints:
- Figures - Animal or human shapes, realistic or abstract
- Florals - A more modern take on the traditional small flower prints
- Strips - A big hit in fashion and home design, stripes of all sizes are in
Colors:
- Blue - Can be used as a neutral base or accent color
- Yellow - More muted than bold, think mustard
- Neutrals - Gray brown shades identified as "caramel" or "mushroom"
- Red - Popular again but in variations of the standard red, more coral or orange
What trends are you seeing for 2013? Do you agree with the predictions?
