Charleston Real Estate Sales Continue to Increase as September Numbers Show Monthly Improvement From Year to Year. $8,000 Tax Credit Likely Had Impact on Positive Numbers. The Charleston Real Estate Market Continues with Positive News.
September 2009: Residential Sales Increase 7% Date: 10/13/2009 Residential Real Estate Sales Climb 7% from AugustCHARLESTON, SC-(October 13, 2009) Preliminary data from the Charleston Trident Association of REALTORS® showed 697 closed sales during the month of September, a 7% increase from the 654 sales recorded one year ago. The median price for homes sold in September was $174,000; down from $193,640 in 2008.
The rise in sales, following last month's record-high number of pending sales is likely due to use of the $8,000 tax credit-information released by the IRS in late September showed that 1.4 million homebuyers have filed to receive the credit.
Inventory dropped slightly again, with 10,679 homes currently listed for sale with the Charleston Trident Multiple Listing Service.
BERKELEY COUNTY
Berkeley County sales increased 9% over August, with 135 closed transactions at a median sale price of $150,000. The Goose Creek and Moncks Corner areas posted the largest number of sales in the County and Brickhope Plantation was the most active neighborhood.
CHARLESTON COUNTY
Sales in Charleston County also increased in September, up 11% over August, with 359 sales at a median price of $214,000. The most active areas in the County were the area of Mount Pleasant that lies south of Highway 41 and the Carolina Bay subdivision in West Ashley, outside of I-526.
DORCHESTER COUNTY
Dorchester County sales remained stable, month-over-month, showing 164 sales at a median price of $154,000. The Summerville/Ridgeville area showed the highest number of sales, with the most activity in the subdivision of Drakesborough.
90-DAY ADJUSTMENT: June 2009
Preliminary data from June 2009 showed 732 sales at a median price of $192,626. Adjusted numbers show 779 sales at a median price of $193,000.
CTMLS is now makes available adjusted sales reports 90 days following preliminary reports. The MLS is a user-driven system, with a number of factors that could delay entry of transactions beyond the preliminary reporting day on the 10th of each month. The adjusted figures reflect all transactions entered into the system up to 100 days after the close of the month.
Article Courtesy of CTAR
Charleston SC Real Estate
A full service Charleston Area Real Estate Brokerage with 4 offices located in the Goose Creek, Mount Pleasant, Sullivan's Island, and West Ashley Areas of Charleston SC. Services include residential sales and property management including long term and vacation rentals, and commercial sales and leasing.
1-800-886-3406
EXIT Realty announces new initiatives for its agents to encourage them to be green in Real Estate. EXIT Realty aligns with EcoBroker International to offers its agents training, resources, and tools that focus on the enviroment. EXIT Realty Charleston Group will remain a leader in environmentally friendly Real Estate in Charleston SC.
‘Teal Is the New Green': How One Company's Focus on the Environment Is Creating New Marketing Strategy for Agents
By Amy Youngren
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RISMEDIA, October 7, 2009-"The environment will be one of the great challenges of the 21st century. Soon it will dominate virtually all aspects of life in North America-socially, politically and economically. Today's great leaders and entrepreneurs must look at environmental problems as an opportunity to set themselves apart from the competition."
- Steve Morris, Founder and CEO, EXIT Realty Corp. International
The green real estate movement is today's mantra for everything from energy-efficient appliances and toxin-free building materials to all-natural cleaning supplies or water-saving products. Everywhere we turn, marketing screams for our lives to "go green!" Whether it's the bag you pack your groceries in, separating recyclables before putting out the garbage or checking the tags on what you buy to ensure it's organic, day-to-day living centers around being-or quickly becoming-eco-friendly.
One of the most important things to buyers and sellers today is the environment. And in order to meet the demands of first-time home buyers (whose average age, according to the National Association of Realtors®, is 30), agents must become savvy, green-educated professionals. Age 30 is between the Gen X/Y era where green is not a consideration to that demographic-it's a lifestyle. Environmentally-friendly features are deemed as very important by 90% of buyers, according to NAR. The stats make perfect sense since owning a green home is said to be good for your health, will save you money and benefit the environment.
If that's not enough motivation, green homes are expected to account for 10% of new-home construction in 2010, up from 5% in 2005, according to McGraw-Hill Construction. Not to mention that while the average U.S. home lost 5.7% of its value in 2007, eco-friendly homes have actually held their value, some even appreciating in price. According to the Appraisal Institute, green properties typically appraise for 10% to 15% higher than comparable conventional homes (depending on region and upgrades).
Buying green real estate is more affordable than ever before. The premium is minimal compared to what it used to be and can be easily offset by the long-term savings on things like energy-efficient furnaces, for example. That alone could save you $570 annually, according to the U.S. Department of Energy.
What qualifies as a green home to one might not necessarily make the cut with another, but the key is recognizing the significance of the green movement in real estate and heading aggressively in that direction. The green housing market is creating a tipping point in the real estate industry. Realtors® that don't get on board the green train will get left behind.
At EXIT, It's All About Our Agents
EXIT recognizes the value in making this educational opportunity available because, like everything else we do, our agents are the focal point of our company. With that in mind, at the 2009 EXIT Annual Convention, EXIT announced the launch of our green initiative, "Teal is the New Green," which includes training, resources and other tools to assist our agents in marketing themselves as proficient green Realtors®. By aligning ourselves with EcoBroker® International, the world's first and largest green designation program for real estate professionals, we keep giving Realtors® more and more reasons to choose EXIT for a successful career.
EcoBroker's® green designation training and communications will provide EXIT agents with the resources to be constructive green ambassadors in an ever-changing business and consumer world. They will be able to knowledgeably assist clients in their pursuit of properties that provide affordability, comfort and a healthier environment. EXIT-EcoBroker certified professionals will also help sellers effectively market their properties with green features.
Because EXIT offers only the very best in training and education, EcoBroker® is the only designation that is taught by experts in both the green industry and the real estate industry. With over 5,400 agents trained worldwide, they are the largest green designation program for real estate.
"We are also the only green certification program that requires our members to take four hours of additional education each year," says John Stovall, Vice President of business development for EcoBroker® International. "Our annual Advantage Course will keep EXIT-EcoBrokers on top of the latest information in the world of green real estate." EXIT has negotiated special pricing that is not available anywhere else in the industry, so our agents can affordable become certified.
EXIT-EcoBrokers will be equipped with additional energy and environmental information as well as tools to help them provide added value to all of their real estate transactions. "This training helps our agents address the newest topics in real estate, such as green home certification programs like ENERGY STAR®, says Tami Bonnell, president of EXIT's U.S. Organization. "It also provides practical solutions to assist them in working through issues that may arise in any real estate transaction, such as mold, radon, or poor indoor air quality, just to name a few."
By becoming an EXIT-EcoBroker, our agents will be able to grow their client base by attracting the green-minded consumer and providing valuable energy and environmental information to all consumer types.
For more information about EXIT Realty Corp. International or the "Teal Is the New Green" Program, contact Amy Youngren, Green Program Representative, at ayoungren@exitrealty.com.
RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.
Charleston SC Real Estate
A full service Charleston Area Real Estate Brokerage with 4 offices located in the Goose Creek, Mount Pleasant, Sullivan's Island, and West Ashley Areas of Charleston SC. Services include residential sales and property management including long term and vacation rentals, and commercial sales and leasing.
1-800-886-3406
Charleston Realtor Debbie Donovan recognized as Sertoman of the Year
In 2007, Debbie incorporated a philosophy of giving into her real estate business she calls Debbie Donovan Donates. Each month Debbie supports a different Charleston area non-profit by offering $200 per new listing and $100 per closed transaction. In addition, she volunteers with these organizations as time allows and shares with others each of their individual missions and role in the community. The organizations were chosen based on the common threads of working to end the cycles of abuse and neglect, to educate and empower, and to provide opportunities for general health and well-being. Sertoma (SERvice TO MAnkind) was established in 1912 as a civic-organization with the primary mission of assisting people with hearing health issues. Debbie first became involved with Sertoma when she worked as a ropes course facilitator at Camp Sertoma (Clemson, SC) in the summer of 1993. Camp Sertoma is the December recipient of Debbie Donovan Donates representing National Sign Up for Summer Camp Month. Debbie specializes in residential sales and marketing with Exit Realty Charelston Group in Mt. Pleasant.
Debbie Donovan - Charleston Real Estate Resource:
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Charleston SC Real Estate
A full service Charleston Area Real Estate Brokerage with 4 offices located in the Goose Creek, Mount Pleasant, Sullivan's Island, and West Ashley Areas of Charleston SC. Services include residential sales and property management including long term and vacation rentals, and commercial sales and leasing.
1-800-886-3406
The College of Charleston Monthly Home Value IndexSM indicates that the value of a typical home in theCharleston Tri-County Area increased by 2.51% in June 2009. In comparison, the change in the index value was +8.61 in May 2009, and -5.17% in April 2009.
The College of Charleston Home Value IndexSM home value index is prepared monthly for the tri-county area by the Carter Real Estate Center at the College of Charleston. The index is a "constant quality" hedonic price index that is calculated by estimating the prices of individual property characteristics using data provided by the Charleston Trident Association of REALTORS® from its Multiple Listing Service. The index tracks the value of a "typical" home over time. The index should not be interpreted as an indicator of the change in value of all homes, but as an indicator of the change in value of a "typical" home with the contributions to value from that home's features evaluated at the average estimated prices of those features.
Additional details about the index are available in a descriptive paper titled "College of Charleston Home Value
Index available at www.cofc.edu/cartercenter/hvi.
The Carter Real Estate Center welcomes requests for specialized market analysis reports. Contact Professor Tim
Allen by phone at 843.953.8121 or by e-mail at allent@cofc.edu for more information
Charleston SC Real Estate
A full service Charleston Area Real Estate Brokerage with 4 offices located in the Goose Creek, Mount Pleasant, Sullivan's Island, and West Ashley Areas of Charleston SC. Services include residential sales and property management including long term and vacation rentals, and commercial sales and leasing.
1-800-886-3406
The National Association of Realtors reports that pending home sales increased for the nation for the 4th straight month. This comes on the heels of the news that the Charleston SC Real Estate Market reached a 7 month high in May. This is more positive news that the market is on the rebound in Charleston and the nation as a whole.
Pending Home Sales Rise Fourth Straight Month, Up 0.1%
Pending home sales rose in May for the fourth straight month, spurred by low prices and a first-time homebuyers tax credit, fresh evidence that the housing sector may be recovering.
The National Association of Realtors said Wednesday that its seasonally adjusted index of pending sales increased by 0.1 percent in May to 90.7. Analysts expected no change, according to Thomson Reuters.
While the increase was small, it followed a 7.1 percent jump in the index in April.
"The pronounced increase in April and the fact that May sustained this rise does indicate that actual existing home sales are poised to rise in the coming month or two," said Joshua Shapiro, chief U.S. economist for economic forecasting firm MFR Inc., in a note to clients
The index, which tracks signed contracts to purchase previously occupied homes, is considered a barometer for future home sales. Typically there is a one- to two- month lag between a sales contract and a completed deal.
The index is now 6.7 percent higher than in May 2008, when it was 85. The last time it increased for four straight months was in October 2004, the NAR said.
Other recent housing indicators have been mixed. The Realtors said last week that completed home sales rose 2.4 percent from April to May, the third month-to-month increase this year.
But new home sales dipped 0.6 percent in May.
Separately, the volume of mortgage applications to purchase a home is effectively flat over the past four weeks, the Mortgage Bankers Association said Tuesday.
Still, low home prices and an $8,000 first-time homebuyers' tax credit, included in the Obama administration's stimulus package, are spurring greater interest among home buyers, the Realtors said.
On a regional basis, the pending home sales index rose 3.1 percent to 80.9 in the Northeast while also increasing 2.2 percent to 96.9 in the West. The index dropped 1.3 percent to 89.2 in the Midwest and fell 1.7 percent to 92.6 in the South.
For the full article please visit: http://www.cnbc.com/id/31682206
Charleston SC Real Estate
A full service Charleston Area Real Estate Brokerage with 4 offices located in the Goose Creek, Mount Pleasant, Sullivan's Island, and West Ashley Areas of Charleston SC. Services include residential sales and property management including long term and vacation rentals, and commercial sales and leasing.
1-800-886-3406
BIC/Owner of EXIT Realty Charleston Group
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