This Saturday March 13th, 2010, the streets of Folly Beach will turn green to celebrate Saint Patrick’s day, and Folly party-goers will race around Center Street competing for prizes in the annual pub crawl. Everyone please use caution, from what I understand, the open-container law will be lifted, but the streets will be open to traffic! Please be careful “crawling” from one pub to the next. A good time will be had by all, including me, so call me if you want to meet up! I’m buying!
This is an election year on Folly Beach and election day is April 6th. There are three candidates for the Mayor’s office, and seven candidates for City Council. Folly Beach Now is covering the election by providing information that will help voters make informed decisions. You will find answers to your questions about where the candidates stand, information about their backgrounds, and important meetings and dates.
*** If you need to register to vote, the deadline is March 6th ***
Running for Mayor:
Running for City Council:
Please contact me with any questions or comments.
Few of us are in the position to pay cash for our next house. Most of us will need a mortgage. When we apply with a lender we need information about the mortgage and the process of closing a loan. Here are some questions to ask your lender before you apply for your mortgage.
What is the best program for me based on my situation? Why?
How long will it take to process and close the loan?
Will I need Private Mortgage Insurance (PMI)? If so, for how long?
Are there any special underwriting guidelines that you follow?
What is the most popular loan program being offered? Why is it popular?
Who will be servicing the loan?
In six months to a year, what will make this loan look good to me?
What are your standard fees? Are there special fees that I should be aware of?
Are there any escrow requirements?
During the “lock-in” period, what happens if rates go down?
What do you need from me to get the loan approved?
Who will be my contact person during the application process?
You can probably think of many more things you need to know before you apply. Your mortgage consultant should be able to answer your questions and offer you all the information you need to make an educated decision.
You would be amazed what you can buy on the beach!!!
8 Properties sold in the month of January 2010 on Folly Beach, beginning this year with a healthy sales volume just like late 2009. The sales ranged from $225,000 to $550,000 with an average sale of $375,425. The low prices are the reason for the increasing number of sales. Buyers are beginning to bite on the great deals that can be had on Folly Beach.
Out of the 8 sales this month, 4 were some type of foreclosure or short sale situation. The banks are willing to go low. If you have an experienced agent, they can point you in the right direction to find these investment deals. If you are interested in buying or selling on Folly Beach, let an experienced professional guide your way. Contact me here:
- Cost doesn’t equal value. If you’ve converted a bedroom into a home theater for $20,000, it does not mean you have added $20,000 to the value of your home.
- Put your money where buyers will see it. A fresh coat of paint, cleaning your carpets, sprucing up your front door and entry way are examples of good returns on your money. Don’t expect to get the same return on insulation or wiring or even a swimming pool.
- Do not over-improve! The addition of a fifth bedroom when most of the homes in the neighborhood are 3 or 4 bedrooms may not not give you the return you would like. As a guide, use the typical improvements in your area.
- Most quality home improvements cause a home to sell quicker but not necessarily for more money. A timely sale will lessen the carrying costs and stress. Do not underestimate the value of smart improvements.
There will be Mardi Gras celebrations on Folly Beach this Saturday February 13th, 2010 from 12-5 for the annual Folly Gras party and parade. Wear your beads and most colorful outfit and come down to Center Street and celebrate New Orleans style.
Live Music by:
|Jason and the Juggernauts|
|Oscar Rivers Band|
|Stratton Lawrence & Stratton Moore|
|DJ Ron in the park|
Parade trophies will be awarded for the following categories:
***Best Golf Cart***
- Decorated Floats, Golf Carts, Marching, & Alternative transportation only! NO CARS OR TRUCKS UNLESS THEY ARE PULLING A FLOAT! You must be in Mardi Gras costume to participate! We Welcome decorated pets!
- Must be at the Folly Beach Public Boat Landing by 1:30 pm for lineup
We have asked our restaurants to prepare special New Orleans food fare and Mardi Gras drinks beginning at 1 pm. There will also be a trophy awarded to a restaurant for Best Food Fare.
We will have live music set up at different locations on Center Street. The Parade will begin at 2 pm and start at the Public Boat Landing. When the Parade ends at the Holiday Inn, Indian, Huron, Hudson will reopen. There will be music, dancing and food in the streets provided by our own businesses from 1 to 5 pm.
Masks will be sold at City Hall for $2.00 first come first served. Free beads given with each mask.
The Folly Beach Arts and Crafts Guild will also be in the Park with their crafts and vendors.
If you have any questions, please contact Mary Cunningham at City Hall; 513-1836 or 708-1113.
Act fast on this opportunity to own an incredible Folly Beach deep water property for a steal! The builder has thrown his hands up and will let it go at auction prices to avoid foreclosure or short sale. This waterfront property will need to be finished which gives you a chance to add your tastes, and has awesome views of the Folly River Wait! It gets better, it is sold with a shared deep water dock! This is a huge home on Folly Beach for a fraction of what it should really cost. There were two available now only one left.
The Taste of Folly Beach 2010 was a great time with a great turnout. The streets were full of fans of Folly and their energy beat back the overcast skies, and warmed up the lower temperatures. The sun made an appearance here and there, which was a welcome sight for the many participating Folly establishments.The chili cookoff sponsored by Planet Follywood was extra competitive this year with over 30 entries. The awards were given out as follows:
1st place Ryan Galloway
2nd place Chef Aaron from Locklears
3rd place Chef Jonathan from Blu
Honorable mention Nick the kid
Brian Hawkins from the Folly Beach Crabshack won the server olympics, the finals featuread a photo finish with Brian winning by holding more beverage in his two cups.
The hot dog eating contest was entertaining. The winner ate 6 hot dogs, and there were images that conjured up memories of “Stand By Me”.
The tunes were provided by the Hawkes. Some of the largest crowds were in front of the stage dancing and swinging to the music.As usual when Center Street closes, a good time was had by all. Make sure and come out next year!
I recently received an article that I wanted to share. Insurance in Charleston is difficult to manage unless you have the help of a great agent. Charleston insurance and coastal insurance will be a topic of conversation for some time to come. Here is some advice given to me by my State Farm insurance agent, Paula Hampton.
Understanding the value of your home
How to determine your homeowners coverage
Your home may be the biggest investment you’ll ever make. So if you are serious about protecting that investment, here is some important information to consider when determining the coverage amount for your home.
Make sure that your home is insured for at least 100% of its estimated replacement cost
To determine your amount of homeowners coverage:
- Get an estimate of the replacement cost of your home
- Select the coverage amount that best fits your needs
We recommend that you purchase an amount of coverage at least equal to the estimated replacement cost. But the choice is yours. Determining your home’s estimated replacement cost is important because this will ultimately determine which policy options are available to you. Since it is impossible to predict today what the cost will be to replace your home in the future, it’s important to have enough coverage to account for unforeseen circumstances.
Understand the difference between market value and replacement cost
Market value is the amount a buyer would pay for a home, including the land, regardless of how much it would cost to rebuild the home. Replacement cost for this purpose is the rebuilding cost necessary to repair or replace the entire home.
Replacement cost IS NOT:
- The market value of the home
- The home’s purchase price or the cost of the land
- The outstanding amount of any mortgage loan
When buying a new home, be sure to obtain a replacement cost estimate
Before you purchase a new home, make sure that you determine the appropriate amount of coverage needed. Here’s how:
- Ask if a replacement cost estimate is available when you have the home appraised
- Or, consult with your local builder association or a reputable builder for an estimate
- You can also check with your insurance agent to help you with this process
Be aware of any architectural details or unique building materials that may affect your estimated replacement cost, such as:
- Upgraded bathrooms or kitchens (including cabinets)
- Finished or partially finished basement
- Additional rooms or living space
- Custom molding or arched windows
- Other unique features
A contractor or appraiser can help estimate your home’s replacement cost
Building contractors or professional replacement cost appraisers are a good source for obtaining an estimated replacement cost for your home. Estimates from these sources should reflect your home’s features, like those mentioned above. If you are unable to obtain a detailed estimate from these sources, your insurance agent can discuss other options for estimating the replacement cost of your home.
Review your policy annually to make sure that your coverage meets your needs
Have you recently remodeled or improved your home?
When you upgrade or improve your home, you may increase your home’s estimated replacement cost. Your agent will then help you adjust your policy to meet your coverage needs. Check your policy’s provisions for notification requirements of any remodeling or additions that increase your home’s value.
Has the rate of inflation risen since your last appraisal?
Many policies provide coverage that automatically adjusts every year in an effort to compensate for increases in construction costs for your area. However, certain conditions such as severe weather can increase the demand for labor and materials, and raise costs beyond normal inflation. It is important to update your coverage amount each year to keep up with the changing economy.
What influences building costs in your area?
Market conditions in your area may impact the amount it will cost to rebuild your home if you experience a loss. Replacement cost estimates are influenced by supply of labor, demand for labor, and the cost of construction materials. Keeping up with the current market conditions in your area and changing your coverage amount accordingly, will help you maintain coverage at least equal to 100 percent of the estimated replacement cost coverage for your home.
Dunes Properties is getting involved in the efforts to save Sullivan’s Island Elementary, one of the best schools in the state. Many of our agents and their clients have children who attend or have attended the school, and Dunes’ very own Betty Poore is an alumni of SIES. Dunes has financially contributed to the school in the past and our letters will be among those submitted to Superintendent Dr. McGinley, school district officials and the Charleston County School Board in February.
The school’s future is uncertain due to new seismic codes which require the school to be rebuilt. SIES parents and volunteers are making their way through the area residents and businesses of Sullivan’s Island, Isle of Palms, and Mt. Pleasant to document widespread support for the rebuilding of SIES.
SIES is one of the top rated schools in the state and is continually rated “excellent” and every year since its inception in 1998, it has received the Gold Palmetto Award. The support for the school is echoed in the devotion of a strong PTA and the Friends of Sullivan’s Island School (FOSIS) Foundation who have provided many volunteers and generated funds to supplement district funding resulting in playground equipment, smart boards in classrooms, computer and foreign language education and a full-time nurse.
The school has recently applied to become a partial magnet school using its oceanfront location to develop a focus on marine and environmental science. The possible change could result in SIES sharing its curriculum with other district and area schools. The new school would be larger and consist of about 500 students.
Thank you to the Island Eye News for much of the information in this post.