Category: Real Estate

“While buyer activity continues to be robust, seller activity continues to be a bit softer, with fewer homes being listed for sale than a year ago. Many housing experts believe sellers remain reluctant to list their homes due to continued concerns over COVID-19, which was beginning to see a resurgence in June. Until sellers regain confidence, housing inventory will continue to be constrained during what is expected to be an active summer selling season.”

~ Charleston Trident Association of Realtors® (CTAR)

Market Statistics by Area:

Closed Sales +5.7% | Median Sales Price -0.6% |  Months Supply -41.9%

• Downtown Charleston
• Upper Charleston Peninsula
• Upper Mount Pleasant
• Lower Mount Pleasant
• Daniel Island
• Folly Beach
• Isle of Palms/Wild Dunes
• Sullivan’s Island
• Kiawah Island
• Seabrook Island
• James Island
• West Ashley
• Johns Island
• North Charleston
• Summerville
• Goose Creek

Featured Listing

9 Colonial Street, Historic Charleston
4 bedrooms, 3.5 baths  |  3,150 sq ft  |  Offered at $1,449,000
This charming 100 year old South of Broad home has been meticulously maintained featuring a gracious floor plan with tall ceilings and original moldings, fully remodeled kitchen, extensive third floor renovation and expansion, and cozy courtyard perfect for entertaining.⁠ For more information, visit: bit.ly/9ColonialStreet

In the News

Charleston Coast Vacations

Labor Day Weekend is less than two months away, and it’s the perfect excuse for a getaway! Treat yourself to the relaxation you deserve in a beautiful home or villa on the Charleston Coast. 😎☀️ Visit our website for more info:
www.CharlestonCoastVacations.com
We can’t wait to see you on the Charleston Coast!⁠

“While the effects of COVID-19 in the broader economy continue, real estate activity is beginning to recover across much of the country. According to Freddie Mac, mortgage rates have been below 3.3 percent for more than four weeks and are hovering near all-time lows, spurring strong interest by buyers and lifting showing activity up 4% nationally versus a year ago in the final week of May.”
~ Charleston Trident Association of Realtors® (CTAR)

Market Statistics by Area:

Closed Sales -21.9% | Median Sales Price +1.2% |  Months Supply -32.6%

• Downtown Charleston
• Upper Charleston Peninsula
• Upper Mount Pleasant
• Lower Mount Pleasant
• Daniel Island
• Folly Beach
• Isle of Palms/Wild Dunes
• Sullivan’s Island
• Kiawah Island
• Seabrook Island
• James Island
• West Ashley
• Johns Island
• North Charleston
• Summerville
• Goose Creek

Featured Listings

2307 Atlantic Avenue, Sullivan’s Island
5 bedrooms, 6.5 baths | 5,081 sq ft | Offered at $8,500,000
Ocean View: A Sullivan’s Island Beach House
This prime front beach home, an intriguing marriage of Lowcountry elegance and British Colonial tradition, is one of the most beautiful on Sullivan’s Island. Custom designed by acclaimed architect Beau Clowney and constructed by master builders Daly & Sawyer, this residence is spacious, yet intimate, with ocean views from nearly every room. For more information, visit: www.2307AtlanticAvenue.com.

2411 Atlantic Avenue, Sullivan’s Island
5 bedrooms, 4.5 baths | 4,600 sq ft | Offered at $7,500,000
This fabulous oceanfront home on Sullivan’s Island offers waterfront living at its finest. Designed and renovated by a dream team of talent, Dufford Young Architects, Sheppard Construction, and Wertimer + Cline Landscape Architects, the house centers on clean forms and classic elements. Living and dining spaces drink in the Atlantic Ocean views, opening out onto an oversized deck and covered porch. For more information, visit: www.2411AtlanticAvenue.com

Charleston Coast Vacations

We’re so happy to have our beautiful sandy spaces back!! 🌊☀️🌴⁠
If you’re dreaming of a fun-filled summer or fall vacation, check out our website www.CharlestonCoastVacations.com.
We can’t wait to see you on the Charleston Coast!⁠

Residential Real Estate Sales Down Just 10% During Peak Of COVID-19 Crisis

“The demand for housing in the Charleston region was so strong prior to COVID-19 spreading in our community, we have been very lucky to experience a minimal and what we expect to be very temporary drop in sales during April. Buyer interest has remained high throughout this global crisis and Realtors® have been able to continue safely working with clients from a largely virtual position, serving the public and finding shelter for families in a time when it’s never been more important to have a safe place to call home.”  ~ 2020 CTAR President Bobette Fisher

Closed Sales -10.4% | Median Sales Price +7.1% |  Months Supply -27.9%

Market Statistics by Area

• Downtown Charleston
• Upper Charleston Peninsula
• Upper Mount Pleasant
• Lower Mount Pleasant
• Daniel Island
• Folly Beach
• Isle of Palms/Wild Dunes
• Sullivan’s Island
• Kiawah Island
• Seabrook Island
• James Island
• West Ashley
• Johns Island
• North Charleston
• Summerville
• Goose Creek

Featured Listing

The Boardwalk House is a rare opportunity to own a private, gated 1.23 acre estate on a high bluff on the Intracoastal Waterway in one of Charleston’s most historic neighborhoods, Riverland Terrace. Special features include a 167ft boardwalk on the Intracoastal Waterway fronted by a lavish pool with hot tub and cabana, ground level bar and living area, 5 car garage, a mother-in law suite, a separate apartment over the garage, and coveted deep water dock permit in hand. For more info, visit: www.TheBoardwalkHouse.com

In the News

📸 @CharlestonCityPaper | Most Charleston county parks are now open to the public! No group activities such as picnics or close contact sports are allowed. In addition to social distancing, park goers are encouraged to consider wearing face masks. To read the entire article, visit: bit.ly/ChasCountyParkOpenings or visit bit.ly/CCPRCParkOpenings for the full list of open parks.

Charleston Coast Vacations

First, we’d like to sincerely thank everyone who took the time to nominate a #healthcarehero for our giveaway! We received so many wonderful entries and we wish we could give them ALL a vacation. They are all heroes and truly deserving. ⁠
⁠
Since we were overwhelmed with responses, we found a way to offer one more complimentary stay! The FOUR winners are: Heather Irving, Deidra Bibb, Amy Quinn, and Andrew Mashburn. ⁠

Congratulations and we can’t wait to see you on The Charleston Coast!⁠

Consider these situations…

A couple who had just one rule when we started looking – no flood insurance – bought a charming house on a lagoon.

I helped a single guy who wanted a fixer upper out in the country with acreage who ended up buying a new construction townhome in West Ashley. He loves it.

My clients who absolutely wanted a water view ended up looking at a carriage house on Rutledge that looks down a narrow driveway with a view of the other side of the street.

Another client, with plans to move to Chapel Hill, sold his home in West Ashley and purchased a townhouse in Mt. Pleasant instead.

My point is that sometimes things change and it’s important to be receptive to suggestions that might be outside the box. Seeing property online using search criteria is immensely efficient, but charm of place or sense of spaciousness can be misleading. Working with an experienced agent can often bridge what seems like an insurmountable gap.

It can also sometimes be difficult to understand a neighborhood until you are there to experience it, and help change minds in the process. People who are unfamiliar with an area may have preconceived ideas about neighborhoods they have never explored. Realtors often know about hidden gems and unique opportunities. Before ruling out a home that is close to a busy road on a map, you might find that it is positioned perfectly to reduce sound if the garage serves as a buffer on the side with traffic. Getting inside the home can also tell you if you hear road noise or not.

There are just some things that must be seen in person. When showing a home, I will point out where there is evidence that it has been well-maintained. I look for loose baseboards and trim. If these have been neglected, it makes me wonder what other systems and day-to-day repairs have been ignored. In addition to trim and minor repairs, I always look at the return vents and heating and air conditioning vents.

If these are dirty (and it won’t likely show up in photos) it tells me that the owners have not taken care to replace filters regularly or have the HVAC serviced and maintained. That can be a big-ticket item down the road. These are the kinds of things that might make a “perfect” house on paper, less than perfect.

While it is important to prioritize needs and wishes, never say never, especially in the diverse and ever-changing Charleston real estate market.

• – Terry Bell-Aby, Realtor®
• Mobile  508-627-2988  | Terry@dunesproperties.com

If you believe that sticking a sign in the yard and throwing some pictures from your phone on the internet is sufficient to get the job done selling your home, then by all means that’s what you should do. After all, isn’t that what real estate agents do? You are correct of course, that’s what some agents do. If you want the best advantage to sell your home quickly and for top dollar however, think about what a great agent can do for you before you decide to list your home as FSBO.

Pricing

With Zillow and Realtor.com, you can certainly look up what nearby home sales have shown. Importantly however, you can’t see what the net has been because those sites do not take into consideration closing costs and other details that may reduce net proceeds. You also do not have access to the kinds of details an experienced Realtor® has in order to perform a detailed market analysis. Days on the market, current inventory rates, and transaction histories all factor into a professional Comparative Market Analysis.

Yard Signs

In the digital age, not as many buyers are driving around neighborhoods they like to find a house. More often, they sit in their pajamas at 10:30 at night and “like” stuff online. The National Association of Realtors ® reports that only 10% of buyers find their homes via yard signs, and only 1% of buyers find them through newspaper ads.

Social Media

Will you hire a professional, architectural photographer and professional stager to make sure you grab eyeballs on the internet? Hundreds of Facebook friends can’t hurt, but your cousin in Denver may not be in the market in Mt. Pleasant. dunes properties have a team of people (largely millennials) helping me with social media strategies, and is on top of the latest technology. We are spread across a number of platforms with sophisticated methods for driving business and capturing data. As an agent, I have too many balls in the air to spend hours studying this ever-changing marketplace, and as a homeowner you likely have other priorities as well.

Safety

Do you know how to qualify a buyer before you invite them to your home? Can you take time off from work to meet a stranger from Craigslist? Have you thought about techniques to protect yourself if a situation seems dicey? Are you trained to know how to keep a stranger from casing your home? Agents are trained in situations like these, allowing for easy showings and more free time for you.

Contracts

I’ve worked with real estate agents who have submitted old versions of contracts, neglected to submit the HOA Addendum, and had no idea about the new flood insurance disclosure required at the first of this year.

As a homeowner, it may be even more difficult to navigate the sea of paperwork involved in a real estate transaction and protect yourself at the same time. The sales agreement alone is eight pages (10 pt type) of legalese. Ask yourself if you are prepared to face the potential legal repercussions if you neglect a mandatory disclosure.

More Money

According to the National Association of Realtors® the average FSBO home sold for $208,700, while the average agent-assisted sale was $235,000 – more than making up a typical commission and then some. Since over 80% of all FSBOs eventually choose to sell their homes with an agent, what not make your life easier? These are only a few reasons to work with a great agent. Call me if you are still not convinced, because I have a few more.

• – Terry Bell-Aby, Realtor®
• Mobile  508-627-2988  | Terry@dunesproperties.com

Real Estate Update from 2020 CTAR President, Bobette Fisher:

“We had a lot of interest and activity from buyers prior to the onset of the COVID-19 crisis in our community. The strong activity in March positions us well for the inevitable impact of the global pandemic on our market” said 2020 CTAR President Bobette Fisher. “While we don’t yet know what that impact will look like, real estate has been classified as an essential service, and while it is far from business as usual right now, we are able to serve clients from a more virtual position and help keep at least this segment of the economy moving in a safe and positive way” she said. “One of the most immediate impacts is on our already low level of inventory, as some homeowners have taken their homes off the market temporarily, out of concern for their health and safety” said Fisher. “Charleston is in a somewhat unique position in that we continue to see buyer interest and demand in our market even as we progress through this highly unusual situation. I anticipate a strong return for our market, post-pandemic but we likely have several challenging months ahead.”

Closed Sales +4.4% | Median Sales Price +10.8% |  Months Supply -29.3%

Market Statistics by Area

• Downtown Charleston
• Upper Charleston Peninsula
• Upper Mount Pleasant
• Lower Mount Pleasant
• Daniel Island
• Folly Beach
• Isle of Palms/Wild Dunes
• Sullivan’s Island
• Kiawah Island
• Seabrook Island
• James Island
• West Ashley
• Johns Island
• North Charleston
• Summerville
• Goose Creek

Now Offering Virtual Tours!

Want to schedule a virtual showing? Click the links below to get started.

Charleston Coast Vacations

Giveaway alert! Charleston Coast Vacations and dunes properties are proud to give away three future vacations to deserving healthcare workers! If someone you know and love is fighting on the front lines of the COVID-19 pandemic, nominate them for a well-deserved break. Email their story to healthcarehero@dunesproperties.com. Vacation winners will be chosen on May 15.

With mortgage rates on the decline due to COVID-19, buyers are encouraged to take advantage and lock in today’s low rates while they still can. Although it is still uncertain how it will impact the real estate market long-term, it will be interesting to see if low mortgage rates are enough of an incentive for buyers to make an offer.

Closed Sales +4.4% | Median Sales Price +10.8% |  Months Supply -29.3%

Market Statistics by Area

• Downtown Charleston
• Upper Charleston Peninsula
• Upper Mount Pleasant
• Lower Mount Pleasant
• Daniel Island
• Folly Beach
• Isle of Palms/Wild Dunes
• Sullivan’s Island
• Kiawah Island
• Seabrook Island
• James Island
• West Ashley
• Johns Island
• North Charleston
• Summerville
• Goose Creek

Featured Listing

Located in the heart of Folly Beach, this home would make the perfect rental, primary residence, or a combination of both. Features include a metal roof, two gas tankless water heaters, two gas fireplaces, high end finishes and multiple decks perfect for lounging and entertaining. For more info, visit: bit.ly/207EArcticAve

In the News

Charleston Coast Vacations

Booking direct always ensures you have the best choice of properties and dates while getting exceptional service from our team at Charleston Coast Vacations. When you’re ready to make vacation plans, visit CharlestonCoastVacations.com.

Spring Cleaning Checklist

Today is the first day of spring!
Have you started your Spring Cleaning Checklist yet?

By now, most people know what it means to “buy local.” In Charleston for instance, it’s known that buying local seafood ensures the upmost freshness, and similarly by supporting local book stores, your dollars circulate in the community. But what difference does it make in real estate transactions? In my experience, the local providers make transactions go more smoothly every step along the way.

Lenders

You might ask “what difference does it make if I use some nationally known lender that I can access online versus a local lender?” The convenience of logging on at 10:00 pm and typing in information might seem like an easier option than meeting face to face, or even scheduling a call with a local lender. In the long run however, the convenience on the front end might turn out to be less convenient once the process begins in earnest. One out of state lender told my client that she did not need a CL-100 (letter indicating no termites or damage) and she nearly cancelled the appointment to inspect. This lack of knowledge about the specifics of SC real estate transactions can create speed bumps when closing a deal, and even the difference in time zones have caused problems with closing on time. Most importantly, I find local lenders also understand the pricing in this market better than national companies and tend to approve loans for higher price point because they know the market will support it.

Insurance

Living in the Lowcountry means risks and hazards that may be unfamiliar in other areas of the country. An insurance provider based in Kansas may not be aware of our flood insurance risks, wind and hail issues, and even earthquakes here. For example, there was a tremor in Summerville in June, and they happen regularly. Local agents know this, and can advise you accordingly.

Appraisers

Appraising real property is not an exact science. It takes judgement, discernment and experience. The difference between Folly Beach and Johns Island is not just 15 miles of travel. It can be the difference between a quirky beach house and a horse farm – with the same price tag. Appraisers may be well-qualified in Columbia to make a judgement about different kinds of property, but may be geographically incompetent here. Appraising homes in a subdivision in a more homogeneous area is also a different challenge than the many diverse types of homes and lifestyles here in the Charleston market.

Realtors

So often I work with clients who are getting advice from a family member or friend who is a real estate agent in another part of the country, or even this state. It’s only natural to seek that advice from family members who only have their best interests in mind, to help them make a big decision. More often than not, that advice does not apply in this particular market. The market in New Jersey is very different than Mt. Pleasant. An experienced, local Realtor® knows that a well-priced home in Riverland Terrace is not going to last long, and offering 20% below asking price will not get the job done. I’ve had more than one client lose an opportunity because of advice they received that does not apply to this unique market with its many equally unique sub-markets. Similarly, in North Carolina, it is customary to have the appraisal done before the home inspection, where here it is the opposite. My clients who moved to Iowa, learned that finished space that is heated and cooled but in the basement is not counted in the total square footage. We don’t have basements for the most part, but here all heated and cooled space is counted.

There are so many things that can affect real estate transactions on all fronts, and working with local experts can make all the difference in getting to closing.

• – Terry Bell-Aby, Realtor®
• Mobile  508-627-2988  | Terry@dunesproperties.com

As we move into February, the question remains – will inventory suffice? While many see the housing shortage as a negative, NAR Chief Economist Lawrence Yun sees this as good news for home prices. “National median home price growth is in no danger of falling due to inventory shortages and will rise by 4%,” he predicts. Yun and others would also like to see home builders bring more affordable units to market, which I think we can all agree with, especially in the Charleston market.

Closed Sales +20.6% | Median Sales Price +8.1% |  Months Supply -25%

Market Statistics by Area

• Downtown Charleston
• Upper Charleston Peninsula
• Upper Mount Pleasant
• Lower Mount Pleasant
• Daniel Island
• Folly Beach
• Isle of Palms/Wild Dunes
• Sullivan’s Island
• Kiawah Island
• Seabrook Island
• James Island
• West Ashley
• Johns Island
• North Charleston
• Summerville
• Goose Creek

Featured Listing

WOW does this property have it all! This stunning waterfront home on the Isle of Palms boasts 5 bedrooms and 4.5 baths, gorgeous elevated pool, and a 50′ private dock that includes power, water, a fish cleaning station and two drive on jet ski docks…plus, all of the privacy and amenities of Wild Dunes! For more information, visit: bit.ly/46WaterwayIsland

In the News

New Vacation Rental!

There’s still time to book your summer vacay. You could even stay at our newest vacation rental, “BodSEA” on the Isle of Palms! Check out our newest rentals, search by location and book direct at CharlestonCoastVacations.com.

Upcoming Events

Lights of Magnolia | November 15 – March 15
Join us for “Lights of Magnolia: Reflections of a Cultural Exchange.” The lantern festival will feature custom-designed installations of large-scale lanterns, a fusion of historic Chinese cultural symbols, and images that represent the flora and fauna of Magnolia Plantation. or more info, CLICK HERE.

Charleston Wine + Food Festival | March 4 – 8
Join us for the 15th installment of the Charleston Wine + Food festival as we celebrate the city’s local food culture. Join us in Marion Square, various locations downtown and around Charleston for exclusive dinners, wine tastings, workshops, excursions, and seminars. For more info, CLICK HERE.

Festival of Houses & Gardens | March 11 – April 18
Step inside the private houses and gardens of some of the city’s most stunning properties, learn about Charleston’s distinctive architecture and history and celebrate our unique culture at luncheons, musical concerts and other Lowcountry lifestyle events. For more info, CLICK HERE.

Hellooo 2020! As we wrap up 2019, we are happy to report that thanks to continued low mortgage rates, low unemployment, and wage growth, we anticipate home buyer activity to remain healthy into the new year. While inventory remains low (-23.1%), it is important to note that new construction has been on the rise in the past year, and is expected to continue into 2020 as well.

Closed Sales +19.6% | Median Sales Price -.07% |  Months Supply -23.1%

Market Statistics by Area

• Downtown Charleston
• Upper Charleston Peninsula
• Upper Mount Pleasant
• Lower Mount Pleasant
• Daniel Island
• Folly Beach
• Isle of Palms/Wild Dunes
• Sullivans Island
• Kiawah Island
• Seabrook Island
• James Island
• West Ashley
• Johns Island
• North Charleston
• Summerville
• Goose Creek

From the Blog

Featured Listing

Located in James Island’s prestigious White Point Estates, this beautifully appointed 4 bedroom, 3.5 bath home boasts 11 ft ceilings, hardwood floors throughout, a stunning new kitchen and large covered porch that overlooks the salt-water pool and marsh below. Live oaks line the marsh and provide beautiful views and privacy all year long, while a dock provides access to the waterway beyond. For more information, visit: bit.ly/882WhitePointBlvd

It’s Almost Summer, Which Means…

There’s still time to book your summer vacay! Check out our newest rentals, search by location and book direct at CharlestonCoastVacations.com.

Upcoming Events

2020 Jazz Festival | January 25th
Don’t miss the 6th Annual Charleston Jazz Festival as it presents The World of Regina Carter, widely considered the finest jazz violinist of her generation. For more info, CLICK HERE.

Lowcountry Oyster Festival | January 26th
Join us at Boone Hall Plantation for the world’s largest oyster festival and has been named one of the “top 20 events in the southeast” by Southeastern Tourism Society. For more info, CLICK HERE.

Charleston Coffee Fest | February 9th
Join us at LoFi Brewing to celebrate Charleston’s burgeoning coffee culture, featuring local and non-local coffee roasters, artisans, coffee competitors, and kids activities. For more info, CLICK HERE.