Tag: Donnie Whitaker
Donnie Whitaker has been with the dunes properties family since 2005 and specializes in second home buyers and investment properties. He is extremely knowledgeable about Wild Dunes, Isle of Palms, Sullivan’s Island, and all areas East of the Cooper, having worked at Wild Dunes Resort as a tennis pro before joining our Isle of Palms office over 10 years ago. Donnie splits his time between the IOP and our centrally-located flagship office in historic Charleston.
When Donnie isn’t selling homes and showing properties, he likes to spend his time in the great outdoors shooting nature and wildlife with his camera. He has a passion for landscape photography from the mountains to the coast, which he likely inherited from his father. Donnie feels extremely lucky to live in a place with such natural beauty and photo opportunities everywhere you turn, but he also enjoys traveling for photography and fun, especially to his home state of North Carolina. You can view and even purchase his photos at his photography website or learn more about his adventures in Charleston area real estate at donniewhitaker.com.
In honor of the 10th Anniversary of the Ravenel Bridge, Donnie recently entered a picture in the Post and Courier’s Bridge Photo contest. His photo was chosen as “Photo Pick of the Week” for Sunday, July 26, 2015.
Things change though, and as of today, 49 Morgan Place is the only home listed for sale. Two weeks ago there were three, but last week, 4 Morgan Place and 14 Morgan Place went under contract. One of them was only on the market for a couple of weeks.
Now, we know in a sellers market, home prices tend to move upward. I don’t think this means we will see prices soar like they did from 2005 to 2007 (any increase will be gradual), but, with a limited supply, and proof of demand in the pudding (evidenced by two contracts last week), sellers just might have a window to demand more than they could, not so long ago.
I have to say it feels good to dust off the saying, sellers market, although it may be a little to early. Or maybe not?
– Donnie Whitaker, dunes properties Real Estate Agent | 843.607.0954
A somewhat recent large assessment, coupled with pending litigation has caused a depressed market in the Shipwatch Villa community of Wild Dunes. Condo sells since the assessment was announced are proof as the difference in list price to sell price is astounding. Going back to July 1st, 2012, statistics show owners getting only 76.54% of what they were asking (does not include price reductions). This is significantly lower than when you combine all condo sells in Wild Dunes since that time (87.82%).
Below I have listed the last five to sell with the asking price and sell price:
122-D Shipwatch $525,000 > $440,000
420-C Shipwatch $725,000 > $475,000
318-C Shipwatch $699,000 > $525,000
413-B Shipwatch $740,000 > $535,000
405-A Shipwatch $675,000 > $600,000
These numbers show that buyers are taking advantage of the opportunity presented and doing well with it. The owners knowing of the assessment just want out and are ready to negotiate big time because of it (if they can). Now, there is a catch. In most cases, the buyers are agreeing to take on the current assessment, therefore taking on an additional $40K +/- to what they are getting the property for. On top of that, usually, with condo litigation, lenders are wary and will not loan. Therefore, more times than not, 100% cash becomes necessary to purchase. Still, the deals are there and for the savy investor, with interest in Shipwatch or owning a condo in Wild Dunes, it could be time to make the jump. Additionally, with the assessment comes repairs, and with repairs comes improvement only helping property values.
dunes properties agent Donnie Whitaker updates his blog every month with a list of everything that is currently for sale in Shipwatch Villas. Check out the full Shipwatch Post for more information.
Check out 120 Wando Reach Court. Our new listing in River Reach at Remleys Point, one of the more exclusive Mount Pleasant neighborhoods. This 5 bedroom, 4.5 bath home is 4939 sqft. and just must be seen to be believed. Lots of unique touches make this a wonderful home. Offered at $2,499,000. Listed by Joe Walker and Donnie Whitaker of dunes properties®.
Contact: Joe Walker (843) 345-4510 | Donnie Whitaker (843) 607-0954
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