About dunes properties of Charleston

dunes properties of Charleston is a real estate, vacation rental and property management company representing the Lowcountry with almost 80 exclusive Charleston beach vacation rental properties, 70 real estate agents and employees, four full-service offices. Nobody knows the Charleston Coast better.

Isle of Palms Office

1400 Palm Boulevard
Isle of Palms, SC 29451
843.886.5600

Real Estate Inquiries:
realestate@dunesproperties.com
Vacation Rental Inquiries:
vacations@dunesproperties.com


Folly Beach Office

31 Center Street
Folly Beach, SC 29439
843.588.3800

Real Estate Inquiries:
realestate@dunesproperties.com
Vacation Rental Inquiries:
vacations@dunesproperties.com


The Real Estate Studio

214 King Street
Charleston, SC 29401
843.722.5618

Real Estate Inquiries:
realestate@dunesproperties.com
Vacation Rental Inquiries:
vacations@dunesproperties.com


Kiawah Seabrook Office

1887 Andell Bluff Boulevard
Johns Island, SC 29455
843.768.9800

Real Estate Inquiries:
realestate@dunesproperties.com
Vacation Rental Inquiries:
vacations@dunesproperties.com


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Archive:

Escalation clauses and other concerns for HOT markets

There is no longer any question; the real estate market has been revived and is changing fast. Demand, pent up for several years, has roared back, especially in Charleston and on the Charleston Coast.  Good properties that are priced right sell fast, and multiple offers are common once again.  We’re also seeing some interesting circumstances which we believe warrant your attention, should you be considering a new purchase.  First is the the escalation clause, where an offer includes a possible automatic increase in price to overcome competitive bids.  Secondly, we are seeing circumstances where listings are being priced at well below recognized market value, for the sole purpose of attracting multiple bids and exceeding the listing price and occasionally the market value.   As Kenneth Harney warns in an article on realdeal.com,
“They’re back after barely a decade: Escalation clauses in real estate contracts, “naked” contingency-free offers and lowball-priced listings designed to pull in dozens of bidders and turn routine sales transactions into auctions.”
To read up on these two new trends, and get a better perspective on the possible pitfalls of buying in the current market, check out these articles in the Washington Post and New York City’s The Real Deal:
-by Randy Walker

A Message from the President… “Our Charleston Coast”

The Masters, Augusta GeorgiaI had the opportunity to visit Augusta this week for a Masters practice round thanks to a good friend who shared his corporate passes with me.  It was a day trip, but worth the three hour drive up and back. The course is undoubtedly one of the the most beautiful in America. As pretty as the Masters is, I couldn’t help thinking on the drive home, how fortunate we are to live on the Charleston Coast, where beauty is a way of life; something we experience almost every day. I am always so happy to arrive home.
As I completed the last mile, passing the City Marina on the Ashley River, I thought, the most amazing thing about Charleston is the constant exposure to a variety of changing landscapes. No matter where you turn, beauty surrounds us. Then there’s the history, the arts and the architecture. Charming is such an inadequate word for what I believe to be the cultural capital of the South.
For those of us in business, specifically real estate and coastal vacations, it’s even more astounding. We’re quickly becoming a digital / tech destination, and Boeing just announced “phase II” which will add 2000 more jobs to the area. At dunes properties, we work on Islands and on the Charleston Peninsula, introducing our clients to the most attractive homes most dream of owning. By doing so, we are privileged to meet the most amazing, successful, and happiest people, who transcend from clients to become our friends.
I hope you enjoy the scenic photographs from our blog and website, which by the way offers online shoppers the most sophisticated and simple search options for Charleston and the Charleston Coast. But why not just take the time, make the trip, and share our beauty with us.
Randy Walker, President dunes properties of Charleston

tropical blunder

There’s not much to do today on the Charleston Coast. All dunes properties’ offices closed at noon in preparation for tropical storm Hanna. So, more rain and later tonight, some windy conditions. And although a tropical storm is not that big a deal; contrary to the TV weather people who make it out to be horrific, (as they broadcast, unshaven, and hooded, from the beach, in between lunestra commercials) we’ve learned “better safe than sorry”. Most of Charleston is hunkered down, with our extra flashlights, candles and gallons of water. No one is leaving, this time we’re just staying put. Videos have flown off the shelf at Blockbuster and I’d wager the liquor stores have had their run on inventory as well.

Many of us who where here nineteen years ago, when Hugo blew us out of the water, are retelling our personal experiences with some pride, that is, when we are not calming down our “new to Charleston” friends, who have not yet been through the anxious anticipation of a hurricane. Oh, one little Charleston fact: from the perspective of those who have grown up in Charleston, “new to Charleston” usually means less than twenty years…at least. “How long ya’ll been here?” is the first question out of our native resident’s mouths, whose last names coincidentally are the same names of our streets on the Peninsula. But I digress.

This is Charleston; known for our genteel hospitality but also our pride in surviving adversity (see: The War of Northern Aggression) and that includes our hurricane experiences, since they date our very important tenure in this holy city. “I remember hurricane Grace, and Hazel”- very impressive (in the 50’s), and hurricane David; not so impressive (the 90’s-too recent). But Hugo was the humdinger of our times… the “hundred year storm”, which is the benchmark FEMA sets our flood elevation standards by in the Lowcountry.

At the time of hurricane Hugo in 1989, I had been selling South Carolina coastal real estate for eight years. We lived within Wild Dunes on the Isle of Palms, just outside of Charleston. Since my Myrtle High School days, I have always been selling something on the beach; rafts, umbrellas, or suntan lotion. At that time I was disguised as a lifeguard. So the transition to resort homes and condominiums was natural. And with my “vast” eight year experience in oceanfront and beach properties sales, I had on many occasions explained to my concerned customers the probability of a hurricane’s chances of landing a direct blow to our island.

Here is how the explanation went: “As storms cross the Atlantic, or form in the Caribbean, they have a 50/50 chance of either heading towards into the Gulf or Mexico or turning north and heading up the Atlantic coast. (so far, so true). When they turn north, they can take one of four courses (also true):

1. turn out to sea, following the gulf stream, remaining in the open waters. No harm no foul ;

2. hit the Florida coast and break up or cross to the Gulf;

3. hit the outer banks, which sticks out like a sore thumb; or

4. move into the area called “long bay” on old maps. Now we call long bay the Lowcountry and it stretches from Jacksonville to Wilmington, with Charleston almost the midpoint of “long bay”.

Still, all very factual and accurate. “That amounts to 12.5% of a 50% probability”, I would explain to my potential neighbors. And I would take it one step further. “The concentrated eye of the improbable storm would need to be at least within 100 miles south of us to be really damaging and it would need to be at least a category two. Anything north of us would be minimal. (Also true) That’s one fifth of a 500 mile “long bay” coastline. So, do the math, 25% of 50% equals 12.5%. 20% of 12.5% amounts a 2.5% chance of a damaging direct hit; not something to keep one up at night, especially if your insurance is “paid up”.

You must admit, a very logical, impressive, probability type explanation. But that was before hurricane Hugo, when the eye of that Cat 5 passed directly over my roof on the Isle of Palms. Nowadays, I am a little less learned on the subject. So, we close early, shut it down, some leave town and probably nothing will hap… well, never mind.

– Randolph Walker

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