Hot Rental Market is here to stay for a while.
The Obama administration's proposal to wind down Fannie Mae (FNMA) and Freddie Mac (FMCC) makes it clear that rental housing will be a big part of the changed housing landscape.
Looking for a Property Manager to take care of your property? East Cooper Property Management (ECPM) is a professional management company that is owned and operated by the owners. Their mission is to manage the properties entrusted to them in a manner that will maintain and enhance the value of those properties and result in the placement of responsible, long term tenants while developing relationships with owners and tenants that will be of benefit to all.
ECPM has three affordable service plans to cover every aspect of managing your rental property. Call them today for a consultation. 843-709-8087
Read more about the rental and housing market: http://www.foxbusiness.com/markets/2011/02/11/rental-market-big-housings-future/#ixzz1c0vf6i7x
Renting vs. Buying -The calculator
Yes I am a Real Estate and of course I want to sell you a home, but sometimes buying isn't the best option. Thought I'd share this calculator to help guide you with what is best for you. If you think buying is best please give us a call! Our team will guide you through the process one step at a time.
Charleston Housing Market Still Active
Charleston housing market still active (from Post and Courier) Recent figures from a California-based research firm place the Charleston area at the top statewide in home prices and close to it in permits. Greater Charleston has the highest median home price by a wide margin among eight metro areas, according to John Burns Real Estate Consulting’s “Local Building Market Intelligence” released this week. The midpoint price in the Charleston area was $229,750. That compares with a $144,004 midpoint for Myrtle Beach, which is second highest. The least expensive area is Sumter with a median price of $95,933. Also highest in the greater Charleston was housing costs as a share of income, with 31 percent of income devoted to home expenses. Myrtle Beach placed second at 28 percent and Spartanburg third at 24 percent.
Anderson was most affordable with 19 percent of income going to home costs.
By building permits, the Charleston area ranked second at 2,945. It trailed Columbia, which had 3,026 total permits. The lowest numbers of permits were in Sumter at 354 and Florence at 375. Greater Charleston and Columbia reported the lowest unemployment rates at 9.1 percent. Greenville was third with a 9.3 percent jobless rate. The highest rate was in Sumter at 12.2 percent.
Has Charlestons Real Estate Market Hit Bottom ?
Recently on The Today Show Barbara Corcoran, a Real Estate Expert, said that by the time we realize we hit the lowest prices in the Real Estate Markets, it will be too late because they are already going to be going up. I believe this. I know buyers are waiting for a deal, but are we there yet? With Mortgage rates lower than they have been at in years (but also starting to see some increases).
Take a look at these Charleston statistics and you decide.
THE CHARLESTON REAL ESTATE UPDATE
The house prices are for homes with an apx. sqft range of 2000-2500.
....................2004 ........2005........ 2006........ 2007........2008.........Diff 2004-2008
Rivertowne.....$297,240...$387,664...$421,212...$4 03,850...$360,500...18%
Bell Hall..........$335,093...$401,343...$408,514...$36 2,700...$378,705...12%
Brickyard....... $281,750...$345,571...$386,279...$375,129...$336,3 86...16%
Park West...... $261,499...$324,219...$335,338...$345,067...$303,8 44...14%
Charl Natio..... $266,640...$330,525...$381,013...$378,625...$342,9 94....22%
As you can see, all of the neighborhoods are at least 12% more than their 2004 price. However, these are prices not adjusted for inflation. When adjusted for inflation, the home prices look like:
....................2004 ........2005........ 2006........ 2007........2008.........Diff 2004-2008
Rivertowne.....$332,909...$421,657...$443,829...$4 13,750...$360,500...7%
Bell Hall..........$376,824...$436,535...$430,549...$37 1,592...$378,705...0%
Brickyard....... $316,838...$375,873...$407,020...$384,325...$336,3 86...6%
Park West...... $294,065...$352,648...$353,344...$353,526...$303,8 44...3%
Charl Natio..... $299,846...$359,507...$401,472...$387,907...$342,9 94....13%
As you can see now, the home prices are much nearer the 2004 price.
Make your own conclusions, but we may be nearer the bottom than most people think.
Search ALL Mount Pleasant Homes.
Berkeley County South Carolina Real Estate
Berkeley county is the largest county in the Charleston area. With a population of 163,622+, It has experienced tremendous growth in the past ten years. With Lake Marion in Berkeley county's back yard it is a boater, fishing and other water sports enthusiast's heaven on earth. On Daniel Island, the tennis and soccer fanatics have the areas best facilities right in the area with the Family Circe Tennis Center and the Blackbaud Stadium.
The average income is 48,000. Several big companies have set up shop in Berkeley County. Google recently opened a data center in Berkeley county.
The Berkeley County schools are thriving and the county is building new schools as the growth calls for it.There are several private schools in the area.
Real Estate is strong with many new neighborhoods being built. In 2007 the average median sales price for Berkeley County was 180K. All the national builders are building communities in Berkeley County including, Centex, KB Home, Beazer and David Weekley. One of my personal favorite communities, Beresford Hall is also in Berkeley County. Dell Webb has also built a retirement community in Berkeley county.
View all Berkeley County properties on Charleston's MLS.
What you can get for over $1 Mil in the Charleston SC Real Estate Market
WHAT YOU GET FOR $800,000 -$1MIL
WHAT YOU GET FOR $600,000
WHAT YOU GET FOR UNDER $100,000
CHARLESTON ADVANCED REAL ESTATE SEARCH
What you get for $800,000 – $1M In Charleston SC Real Estate
In Mount Pleasant and Historic Downtown Charleston there are probably the most listings in this price range. There are some beautiful homes for sale in the Mount Pleasant area. Behind the gates of Dunes West, for less than a million you can find luxury homes on an acre or so or on the golf course. In Park West there are custom homes on the tidal creek with a floating dock. Also in Mount Pleasant, you'll be able to build a Charleston Single style home in the new construction community of Watermark.
View all Mount Pleasant Properties from 800,000 to 1 million on Charleston MLS.
For 800,000 in Historic Downtown Charleston, you can buy a 3 bedroom condo over looking the Charleston Harbor or a 4 bedroom Victorian South of Broad. View all Historic Downtown Charleston properties for 800-1 million on Charleston MLS.
In North Charleston, a luxury condo on the Ashley or a waterfront estate home with a half acre, are what you find for 800K to a million.
View all North Charleston Properties from 800-1 million on Charleston MLS.
In West Ashley neighborhoods like, Stono Ferry, Poplar Grove and Yonges Island, you are sure to get a nice home on a large lot for 800K plus.
View all West Ashley Homes from 800K-1 million on Charleston MLS.
On John and James Island waterfront homes can be found from 800K and up. You'll also be able to find some nice older homes with acreage. View all John and James Island Homes on Charleston's MLS.
In Summerville, you will be able to buy a estate on the golf course for 800K to a million. Also, in Dorchester County homes with acreage are readily available.
View all Summerville Properties between 800k to 1 million on Charleston MLS.
For 800K to a million on Folly Beach you can get a older home on the beach. On Isle Of Palms, you can get a older home that needs a lot of TLC, basically your buying the land but you can also find a nice older home in behind the gates of Wild Dunes.
View all Beach Properties on Charleston MLS.
In Southern Berkeley County, you can purchase a very nice home on Daniel Island for 800K-1 million. Luxury homes in Beresford Hall also start at this price point. In Hanahan's Tanner Plantation, 800,000-1 million can by you a 4,000 square foot home.
View all properties in southern Berkeley County on MLS.
In Northern Berkeley County, there are only a few homes listed in the 800K plus range. Your sure to get a few acres of land with your property in this area for 800K to a million.
View all Northern Berkeley County homes for 800K-1 million on Charleston MLS.
WHAT YOU GET FOR $600,000
WHAT YOU GET FOR UNDER $100,000
CHARLESTON ADVANCED REAL ESTATE SEARCH
What you get for $600,000 In Charleston SC
Charleston's real estate market has many options for the buyer in the 600,000 to 700,000 range. A historic condo in the peninsula of Charleston, a older ranch style fixer upper on the Isle of Palms, a 3800 square foot estate home in a gated community in North Charleston or a home on a few acres in North Berkeley County are a few examples of what your money will bring you.
In Dorchester County, for 600,000 to 700,000, you will find beautiful homes with a decent size lot and at least 3,000-4,000 square feet of living space. These homes will be in golf communities like Coosaw Creek, Legend Oaks, Pine Forest or in the Historic Summerville area.
View All Dorchester County Homes for 600,000-700,000 on Charleston MLS.
In Northern Berkeley County, spending $600,000-700,000 is not necessary. There are a few executive homes in Coosaw Creek or you can buy a home with acreage in Monks Corner.
View all Northern Berkeley Homes for 600-700K on Charleston MLS.
In Southern Berkeley County your just breaking into the real estate market on Daniel Island. However in Hanahan, you will find a 3,000 square foot home in Tanner Plantation. 600K-700K will get a you a very nice home in the Beresford Creek community in the Cainhoy/Wando area.
View all South Berkeley County for 600-700K on Charleston MLS.
In Charleston County it's all about location when looking for real estate. In the 600,000 to 700,000 price range you can find a single family home on the Isle Of Palms. Most of these homes are being sold for the value of the land and the home needs to be torn down. At all Charleston area beaches, villas and condos are for sale in the 600,000 to 700,000 range. On Edisto you can get a marsh front home or a older home with beach views.
View all Charlestons Beach Properties on Charleston MLS.
In Mount Pleasant, 600-700K will get you into a smaller home in desirable I'ON or in a larger home in the gated community of Dunes West. There are also luxury town homes on or near the water in the 600-700K price range.
View all Mount Pleasant Properties between 600-700K on Charleston MLS.
In West Ashley, Golf Course Community Shadowmoss has beautiful home for 600-700k. Or you can buy a older ranch in trendy South Windemere closer to down town Charleston.
View all West Ashley Properties on Charleston MLS.
There are plenty of homes in North Charleston for less than 700K but if you'd like to buy a home in that price range there are few options. For almost 700,000 you can buy a luxury condo at Reverie on the Ashley River with access to a dock. View all Properties from 600-700K in North Charleston on MLS.
Historic Downtown Charleston for 600-700K you will be abole to purchase a loft at the new Cigar Factory or a Condo South of Broad. In the historic area of Charleston you won't be able to buy a Charleston Single unless it is in a area that is still in need of much revitaization.
View all Historic Charleston Properties on Charleston MLS.
On John and James Island, 600-700K will buy you a lowcountry style home with water views or on a tidal creek. View all John and James Island Properties for 600-700k On MLS.
WHAT YOU GET FOR UNDER $100,000
What you get for $500,000 In Charleston SC
In West Ashley, 500K can get you a very nice golf course home in Shadowmoss Plantation or an older lakefront home in Ashland Plantation. In Hunt Club subdivision, Lennar builds a very nice 4,000 square foot home for 500K.
View all West Ashley Homes for 500K on Charleston MLS.
On John and James Island, with 500K you can purchase a waterfront home on a tidal creek with an existing dock. There are also some new construction homes in newer neighborhoods for 500k.
View all James and John Island homes for 500K on MLS.
In North Charleston you do not need to spend 500k to buy a home. I only found 7 listings that were in the 500K range. There is one new construction neighborhood currently under way with homes in the 500k range. It is a green built, waterfront, gated community called Hunley Waters.
View all North Charleston Real Estate for 500K on MLS.
In historic Downtown Charleston, 500K will get you a small living space. However you can buy a piece of history. In the French Quarter you can purchase a 600 square foot condo, a Loft in the Bee Street Lofts or a condo on King Street.
View all Historic Charleston Real Estate for 500K on MLS.
Charleston's Beaches are a favorite destination for visitors. You can visit year round or a few times a year when you purchase a villa for 500K on one of Charleston's beaches. For 500K you can purchase a 500 square foot villa on Kiawah.
View all Beach Real Estate for 500K on Charleston MLS.
In Dorchester County, for 500K you can get a nice home with a little more acreage. In Coosaw Creek County club, a gated community, you can purchase a home with a half of acre on the golf course. In Boyle Plantation, you can purchase a custom built home with over 3 acres. You can also purchase a beautiful home in the historic district of Summerville.
View all Summerville Real Estate for 500k on MLS.
In Northern Berkeley County, 500K gets you a larger home in the Berkeley Country Club or a home in the country in Monks Corner. In Pinopolis, you can purchase a home on 10 acres.
View all North Berkeley County Homes for 500K on MLS.
In Southern Berkeley County, 500K gets you a Luxury Condo on Daniel Island or a New Construction home built by Centex In Shell Ring at St Thomas Point. In Cainhoy just minutes from Mount Pleasant, you can buy a water view home with a floating dock.
View all Southern Berkeley County Homes for 500K on MLS.
WHAT YOU GET FOR UNDER $100,000
What you get for $400,000 In Charleston SC
What You Can Get for $300,000 in Charleston South Carolina
Charleston South Carolina has numerous real estate options in the between 200,000-300,000. Depending on location, as with all real estate, you may find new construction home in Summerville or a smaller older home in Mount Pleasant.
Charleston County
In West Ashley you can find brand new construction in a neighborhood like Carolina Bay for just under 300,000 or a older home in a well established golf course community in Shadowmoss Plantation. Byrnes Down, a highly desirable neighborhood with homes built in the 1940's and is close to down town, has properties for under 300,000.
View all West Ashley Homes for under 300,000 on MLS.
On John and James Island, Real estate varies with lots of condominiums, to a new home with 1200 square feet or an older home with a little more space. View all John and James Island Homes on Charlestons MLS.
Real Estate is very expensive on all the Charleston Islands and Beaches. For less than 300,000 you can find time shares, villas, and condominiums. View all Properties available on the Isle of Palms, Sullivans Island and Folly Beach. In the Edisto area there are some older single family homes, manufactured homes and villas currently for sale. Click to View all Edisto Listings on Charleston's MLS.
In North Charleston there are several New Home Communities, older homes in established neighborhoods like Park Circle, and town homes available for less than 300,000.
View All Real Estate Listings in North Charleston for 300,000.
In Mount Pleasant, many condo's and town homes can be found. Few single family homes are for sale in Mount Pleasant for less than 300,000. View all Properties for sale on Mount Pleasant's MLS.
In Downtown Charleston, Investment properties can be found. Properties will mainly be tear downs or in need of major renovation. View all downtown properties for less than 300k on MLS.
Summerville, Dorchester County, You can find a large 2500-3,000 square foot home in Wescott Plantation golf community for less than 300,000. There are many options in Summerville in all kinds of neighborhoods in the 300,000 range. View all Real estate In Summerville for less than 300,000.
In Southern Berkeley County, you will find 1,000 sq ft condo's on desirable Daniel Island. View all Real estate for less than 300K in Southern Berkeley County. However, In Northern Berkeley County, you have plenty of real estate options. You can find new construction homes, older established neighborhoods and homes with lots of square feet.
View all Northern Berkeley County Homes on MLS.
WHAT YOU GET FOR UNDER $100,000
What $200,000 can get you in the Charleston Real Estate market
By: Darcy & Dave Creaturo
When looking for properties between 100,000 to 200,000, there are many more options for a home buyer in Charleston South Carolina.
In Charleston County you can find many property choices from 100,000 to 200,000.
In West Ashley, you can purchase all types of real estate. One bedroom condo's, town homes and older single family homes can be found in several West Ashley neighborhoods. New Construction Homes can also be in desirable neighborhoods like Grand Oaks Plantation. View all West Ashley Homes priced between 100-200,000.
On Johns Island and James Island, One and two bedroom condo's, boat slips, and older single family homes can be found. View all John and James island Homes on Charleston's MLS.
On Edisto Island you can find time shares, manufactured homes, villas and condos for less than 200,000. View all Edisto properties on MLS.
Of all the areas in Charleston County, North Charleston has the most real estate options for less than 200,000. There are even several New Home Communities that have new construction homes for less than 200,000. View All North Charleston Homes on MLS.
In Mount Pleasant the average single family home is over 400,000 so there are very few single family homes for sale in the 100-200,000 range. There are many condo's and a few town homes available in the Mount Pleasant area. View all Mount Pleasant Homes on MLS.
On the Islands you can find time share properties for less than 200,000. Historic Downtown Charleston there are a few properties that will need renovation or a complete tear down.
View all Downtown Properties on MLS.
In Dorchester County, there are single family homes, manufactured homes,condos, and town homes available. Several New Homes communities are currently building in the 100-200,000 price range. There are over almost a thousand listings that fit this price range. View all Dorchester Real Estate between 100-200,000 on MLS.
In Northern Berkeley County, there are also numerous options between 100-200,000. You can even purchase a New Construction home in a neighborhood like Liberty Hall or a home in a Golf Community/Crowfield Plantation. View all North Berkeley Homes on Charleston's MLS.
In Southern Berkeley County there are less options. You can buy a one bedroom condo on Daniel Island or a newer home in Tanner Plantation in Hanahan. View all South Berkeley County Homes on MLS.
What you get for $100,000 & under
What you can get for $100,000 in the Charleston Real Estate market
Charleston South Carolina has many real estate opportunities available for a home buyer. If you wanted to spend up to 100,000 on your new home, Where would you be able to live and what type of property could you buy?
Starting in Charleston County:
In the West Ashley area, there are several properties currently for sale ranging from 55,000-100,000. These properties are mostly 1 bedrooms condos and town homes and a few manufactured homes.
View all West Ashley Home under 100,000.
On James Island there are fewer choices in this price range. You can find a few boarded up "handyman" specials and some one bedroom town homes/condos. Prices range from 85,000-99,000. View all James Island Homes under 100,000.
On Johns Island, The choices are even fewer. As I am writing this blog you are able to only find one property, a manufactured home, for sale. View all John's Island Homes under 100,000.
In the Edisto Beach area and on Folly Beach there are no properties for sale for less than 100,000. You will be able to find time shares in Edisto and boat slips in Folly.
North Charleston has many properties available for less than 100,000. For less than 50,000 you can find single family homes with less than 1,000 square feet, condo's and town homes. Many of these properties need work, however might be a great investment opportunity.
View all North Charleston Homes for sale on MLS.
In Mount Pleasant , you can find a boat slip for less than 100,000. On Isle Of Palms and Sullivan's Island you can find an Island time share in the high 80,000.
On the historical Charleston peninsula, there are a few investment opportunities for less than 100,000. These properties range from a total tear down to a duplex needing lots of work.
View all Charleston Properties on MLS.
In Dorchester County, there are a several different real estate options. Town homes, manufactures homes, single family homes are available for less than 100,000. Some of these properties are in more rural areas. View all Dorchester County properties on MLS.
In Berkeley County, which includes, Monks Corner, Daniel Island, Goose Creek and Hanahan has many options in the less than 100,000 price range. In Northern Berkeley County, there are older single family homes most built before 1986 and manufactures homes in rural areas available for less than 100,000. View all Northern Berkeley County Homes on MLS.
Southern Berkeley county has fewer properties in the under 100,000 range.There are a few manufactured homes and handy man special type single family homes.
View all Berkeley County properties on MLS.
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