If you have never heard of, or been to, Dewees Island, it is a rare find. Dewees is a private island that is only accessible by private ferry or boat, and cars are not allowed on the island. When you arrive on Dewees, you can hop on your electric golf cart and cruise around the island, as the use of gas-powered vehicles is prohibited. The beautiful ferry ride through the Intracoastal Waterway is a quick 15 minutes from the Isle of Palms Marina.
dunes properties’ newest agent, Judy Fairchild, is a year-round resident of Dewees Island and began her real estate career there in 2011. dunes properties is excited to announce that with Judy joining our experienced team of real estate agents, we will be adding Dewees to our areas of expertise. We currently serve practically every area in Charleston, from the islands and beaches to historic Charleston and Mount Pleasant.
Having lived with her family on Dewees Island for many years, Judy and her husband Reggie are a very active part of the island community. They are involved with a number of programs on the island including the Dewees Island Conservancy, Archives Committee, and the Dewees Island Turtle Team. As a real estate agent, writer, and photographer, she is an avid birder and citizen-scientist and is certified by DNR to assist with sea turtle conservation. You can read all about news and life on the island on Judy’s Dewees Island Blog that she started in 2008.
Dewees is a unique place to see whether you’re a local seeing the island for the first time or looking for property on the island with Judy. She has a variety of homes for sale on the island ranging from a $200,000 oceanfront lot to a 5 bedroom, $1,800,000 house with beach views.
Judy will be working from our Isle of Palms Office at 1400 Palm Blvd. and can be reached at email@example.com or 843.259.1713.
Some of us cherish our vacation time and use our paid time off up to the last second. Others may be too busy at work to use all of their paid time off, or simply don’t have the desire to go on vacation. For those of you that leave a few hours on the table each year, you’re not alone. It turns out that over 40% of Americans who receive PTO don’t take advantage of it, according to a new study conducted by Oxford Economics for the U.S. Travel Association.
Did you know that among some of the benefits of taking your vacation time include higher productivity, stronger workplace moral, greater employee retention, and significant health benefits? Taking your vacation time is good for you! Get away for a little while and unwind with your families, relax on the beach, read a book, and stimulate the economy while you’re at it. In fact, take a look at the amount you would be contributing to the economy if you took time off work, or how significantly you could be harming the economy by squandering a portion of the paid time off:
- Americans left a total of $429 million in unused days last year, at an average of 3.2 PTO days
- The economy would benefit from more than $160 billion in total business sales if workers used all of their available PTO
- Spending the $160 billion available from this PTO would support 1.2 million jobs in industries ranging from retail to transportation
- Taking one additional day of PTO off each year would have a $73 billion impact on the economy
If you’re not already booking your flight and renting your vacation home, then you should consider it. Not only is it good for the economy, but it is of great value to you personally. Besides, what better way to gather your thoughts for your next big sales meeting or conference than by spending a few days sipping a delicious beverage on the beach? Call us 888.843.2322 to book a vacation rental today.
There are only two weeks remaining to raise $280,000 and prevent Dominion Realty Partners from developing an apartment complex and commercial space on the remaining land around the Angel Oak Tree. If you aren’t familiar with the Angel Oak, located at the Angel Oak Park on Johns Island, then you definitely need to add taking a trip to see the 1400+ year old Southern live oak to your bucket list.
The City of Charleston has owned the tree and surrounding park since 1991 and in 2012 the conversation about development began. The plans are to build a 250-unit apartment community that would be 160 yards away from the Angel Oak. This has been challenged by the Save the Angel Oak group along with the Coastal Conservation League because of the danger that the construction would have on the roots of the tree by disturbing groundwater and nutrients.
The Lowcountry Open Land Trust, a local land conservation organization that is focused on protecting significant Lowcountry lands, created the Angel Oak Preserve and has worked vigorously to raise the necessary funds to permanently protect the land. In addition to the 9 acres that the City of Charleston owns, the trust raised $3.6 million and purchased 17 acres near the tree last year. Over $3 million has been raised by numerous corporations and private donors throughout the Lowcountry so that the trust can buy the remaining 18.7 acres, according to the Charleston Regional Business Journal.
If the remaining amount is not secured by March 14th, Dominion will move forward with its building plans. Adrian Cain is the trust’s development director and is hopeful that they will meet their goal to buy the remaining land in time.
Despite the government shutdown last month, October showed more promising numbers for the Charleston Market. According to the Charleston Trident Association of REALTORS® (CTAR), 1,020 homes sold at a median price of $190,000, which is up from 920 homes sold at a median price of $185,000 in October 2012.
Year-to-date, sales numbers and prices aren’t showing any sign of decline. Compared to last year, the Charleston Region Real Estate Sales are up 23%, with an 8.5% increase in median sales prices. At this time in 2012, homes were selling at a median price of $187,894 and there were 8,842 sales. A total of 10,897 homes have sold at a median price of $203,947 so far this year. Homes are also closing in less than 90 days.
In Charleston County 566 homes were sold last month, which is up by almost 14%.
A common trend in the markets both locally and nationally is low inventory. In the Charleston Region, inventory is down by 11%. In it’s latest report on existing-home sales, the National Association of REALTORS® states that this tight inventory is a contributor to the rising home prices. The NAR’s chief economist, Lawrence Yun, attributes low inventory to “holding back sales while at the same time pushing up home prices in most of the country.”
Around this time last year there were 7,030 sales at a median price of $190,907 in the Charleston region. Last August alone the median price was $199,414 and 1,034 homes were sold. This year, August has proven to be a great month for real estate with 1,278 homes sold at a median price of $217,462, according to the Charleston Trident Association of REALTORS®.
Year-to-date, not only have sales increased by 24%, but the median price has risen by 7.6%. Additionally, homes are selling almost one month faster than they were last year.
2013 Multiple Listing Service (MLS) President, Dave Sansom, says that this unanticipated progress will keep our market stable. “Looking at the year-to-date figures, we are positioned to finish 2013 with significant gains in sales volume and healthy, steady growth in prices.”
Inventory and rising mortgage rates have also been changing this year. Luckily, it appears that year-to-date there are about 5,700 homes for sale, which means that the current market is stabilized in the Charleston region. In regards to mortgage rates, CTAR President, Owen Tyler, remarked that the “minimal increases have not soured the demand for residential real estate in Charleston,” and that “buyer activity and interest is still very strong.”
Charleston County is also seeing the lowest average for the amount of time that homes are on the market so far this year, with a current average of about 77 days.
Folly Beach owners and vacationers can breathe a sigh of relief knowing their beach won’t be eroding away any longer into the Atlantic. In 2011 Hurricane Irene took a serious bite out of the beach and the city has been fighting to get the money ever since.
The Army Corp of Engineers has provided $20 million to the city for the renourishment project. As part of a lawsuit settlement, the federal government is obligated to pay for renourisment every 8 years, or as needed, due to erosion caused by the Charleston jetties.
The renourishment will begin in the Fall after the turtle nesting season and will be completed by the Summer of 2014. Dredging will occur 3 miles off shore and be spread along the same footprint as 2005. It is quite an interested scene to watch the dredging happen and what a difference it makes. You can see in the picture below what a difference dredging did for the Wild Dunes beach. I look forward to the result.
Also in exciting news, the Folly Beach Park, after being closed since September 2011, will be reopening on July 3rd, just in time for the July 4th festivities. The commission members decided to go ahead and fund the $3 million renourishment project to get the park open. They couldn’t wait any longer. This is good news for Folly Beach and good news for everyone that enjoys that beautiful part of the island.
Atlantic hurricane season officially began on June 1 and runs through November 30. On June 5, the first storm of the year, Andrea, formed and eventually made her way from Florida right up the east coast. As far as the Charleston Coast, she left little more than some rainy days in her wake and actually was downgraded to a post-tropical cyclone by June 7. Still, a storm forming so early in the season, combined with the over-zealous media coverage has people naturally discussing the “what ifs” of storms on the Charleston Coast.
It’s no secret that any Atlantic coastal community is at risk… even if it’s minimal risk. So, what do we think about buying, selling and living on the coast as it relates to these seasonal storms? Donnie Whitaker, an agent in our Isle of Palms Office, recently wrote a post on his blog about hurricanes and the Charleston Coast. Our President, Randy Walker, also took to our blog in 2008 to expound upon the subject, after one of those pesky (but uneventful) tropical storms passed over.
Every 6 weeks local artists showcase their work in our office The Real Estate Studio. It is always a busy day when artists are hanging. Much was going on today as 4 local artists and friends; Marty Biernbaum, Patricia Huff, Brenda Orcutt, and Mary Sayas hung art for their show entitled “Dawn and Dusk, a Group Interpretation”. Their art will be featured at The Real Estate Studio from May 22, 2013 through July 2, 2013. Their art opening will be Friday May 24th from 5-8pm.
Mary, Brenda, Patricia and Marty have developed an “artist circle” similar to historical artist groups that traveled together to paint and support each other. Artistic and creative strength created by the generation of ideas and positive critiquing, encouragement and, of course, just plain fun in the painting together, have forged the basis of this show’s work.
Join us on Friday May 24th for a festive art party.
by Traci Magnus
I can’t tell you how many locals have mentioned having fond memories of the Red and White Grocery Store just next to the IOP connector on Palm Boulevard. Of course, by now anyone who lives on or near the island knows that the Red and White is no more, and the days of “Newton Farms” are soon to begin.
Donnie Whitaker, a Realtor® in our Isle of Palms Office, has written a post dedicated to these upcoming changes on the Isle of Palms. Read “Farewell Red and White Grocery- See You Soon Newton Farms” from Donnie’s blog.
I came across a provocative article in Bloomberg BusinessWeek, and, frankly, it struck at a question I’ve been wondering about myself- why hasn’t the internet replaced the Realtor ®. The internet has changed so many industries–the iTunes Store and music; Expedia and travel agents–what about real estate?
There have been a number of web players entering the space, from Trulia and Zillow to Redfin, all with slightly different models and a range of success and failure. Here are two things I highlighted in my reading: • 90% of consumers now begin searching for real estate on the web, but • The average commission rate to agents has actually gone up since 2008, from 5.0% to 5.4% in 2011
How has this industry defied what many might say is inevitable? Knowledge and service. It’s a major, major purchase, and lots can go wrong. No one, even the savvy and well-heeled, wants to make a mistake when so many commas are in the price.
The web is playing a role, but it’s largely shopping vs. buying.
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