Another Strong Year for Charleston Real Estate

by carolinaone_marketing 7. July 2016 11:02


Are you thinking about purchasing a vacation home to spend time with your family in a relaxing and picturesque setting? There are many factors that go into choosing a place to live – whether it's a primary residence or a home to vacation at during the summer. Location obviously matters, but so does the local economy. You'll probably want a place with good restaurants, shops, museums, and other attractions indicative of a thriving economy.  So where you live will depend not only on the home but the community that surrounds it.

 

The Charleston Real Estate Market Boom

 

Many are choosing to buy real estate in the Charleston, SC area for these very reasons. Carolina One's own Will Jenkinson was featured in an article for Charleston's daily newspaper, The Post and Courier, about Charleston's real estate market. Will is the broker-in-charge of new homes at Carolina One, and he noted that how 'painful' the new homes market was for Charleston five years ago. Now it is seeing a comeback as 34% of home sales in 2016 for Charleston are new homes. He also said that the Charleston real estate market was on pace to beat last year's sales, which were just over 3600 homes.

 

According to the article, economists predict that the Charleston economy will see stable growth after several years of rapid expansion. In fact, a seventh year of expansion would be the best Charleston has even seen. They point to employment growth, especially in the construction industry, which means that more people will have money to spend on homes. In addition to that, low gas prices and other financial factors have enabled South Carolina residents to save and keep more money in their pockets.

 

 

So what does all of this mean for the prospective homebuyer who wants to find a home in the Charleston area? Homebuyers can expect a healthy real estate market, especially if they are planning on purchasing a new home. Construction is up and the demand for new homes is there, so you will be able to find a new home if that's what you prefer. Additionally, there are many different homes in downtown Charleston, Isle of Palms, Folly Beach, and other popular Lowcountry destinations, so you may want to consult a Carolina One real estate agent to learn more about opportunities based off your budget and preferences.

 

 

Finally, a strong real estate market means that there is a lot of demand as well. If you have always thought about buying a home in the Charleston area, why wait? The home of your dreams may be out there, but it won't be out there forever. Charleston is a beautiful city with a rich history, wonderful beaches, state-of-the-art restaurants, and the friendliest people on the East Coast. It is also a great place to call home. If you are looking at Charleston real estate as we speak, do yourself a favor and speak to an agent to find that dream home for you and your family and friends.  

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Charleston Real Estate

Should Empty Nesters Rent or Buy When Downsizing?

by carolinaone_marketing 6. June 2016 09:52


Each month, more than a quarter million Americans will turn the age of 65. This is typically the magic number when people start thinking about retirement, and some will also consider whether to downsize to save on space and money. Downsizing can offer tremendous benefits to a newly retired couple, especially if they are considering moving to a retirement hotspot like Charleston, SC.

 

One is obviously the amount of space needed. Ten or fifteen years ago, four bedrooms may have been necessary if there were a few children running around and others living at home. Now, all of that space may be unnecessary. Unused space requires maintenance and only forces an individual or couple to spend extra money on energy costs and taxes. In addition to that, those who are retiring may want to go somewhere else when they retire for lifestyle reasons, proximity of family, and cost of living.

 

If You Are Thinking about Downsizing Whether You Stay Nearby or Move, Should You Rent or Buy?

 

So you're ready to move out of the family home and get a small place on the beach in Isle of Palms or somewhere else to enjoy your retirement years. You'll now want to consider whether you would like to purchase the property or rent it out. In truth, there is no simple answer here, and each situation will be different. However, here are some questions you may want to ask your agent or accountant to help you make the best decision possible:

 

Do you like the idea of home ownership? If you have owned a home for many years, it may be a bit of shock if you start renting. You like to have complete control over your property, and you don’t mind taking care of small repairs. For others, though, the idea of never having to worry about a repair or upkeep costs can be a relief.  Each has its positives and negatives, and you should certainly consider these points as you make your decision

 

Which will be more expensive? Each has its own advantages and disadvantages when it comes to expense. You usually have to put more upfront when you buy. However, you can also benefit from certain tax deductions, including mortgage interest and property taxes. When you rent, though, you don't have to worry about most repair expenses and some utilities may be free. However, again, you are not building equity and rent may be higher than a mortgage payment for the same home.

 

Do you plan on remaining in the new property for a few years? The initial costs of purchasing a home can be expensive depending on how much you want to put down as well as the closing costs involved. And don't forget about the home inspection and any initial repairs or upgrades you may need to make as well. Typically these costs are offset in a few years by the equity you build, but if you plan on leaving before then, you may want to rent instead.

 

 

Are you looking at houses in South Carolina? Contact one of our agents today, and we can help you find a fantastic place to call home –whether you decide to rent or buy. 

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Charleston SC Real Estate

How to Prep Your House for Sale

by carolinaone_marketing 23. February 2015 03:52

Charleston’s real estate market is strong again but as in any market, a little bit of prep and TLC can dramatically increase the value of your home. Unfortunately, it can also seem overwhelming—but it doesn’t have to be. Before you get your house listed in the Charleston real estate guide, here are the steps to take to get it ready (without making yourself crazy):

Start with landscaping. We all know about curb appeal and yet homeowners often save landscaping upgrades for last. However, these are the first things you should tackle because even just a few weeks of growth can help new landscape elements look at home in your yard. Likewise, many landscaping treatments will take multiple applications over several weeks to take effect. Give the yard what it needs and watch it green up while you take care of other projects inside.

Consider repairs based on cost and benefit. Chances are good that you can come up with a long list of dream repairs that would really add value to your house. But remember, you have lived there for years without having all these improvements, which means they can’t all be mission critical—and repairs or upgrades can be very costly. To narrow down the list, consider the estimates cost of each (get multiple quotes for big projects) and the impact it will have on the perceived value of the home. In other words, putting in a heated floor in the bathroom may not be that important if you’re selling your home in August, but getting that central AC sure will be.

Limit repainting. Repainting is inexpensive compared to other repairs and it can have a big effect on how the home looks. However, it’s also time consuming and stressful, and heavily depends on personal taste. No sooner do you get rid of that bright orange room to make it a nice neutral white than a buyer comes through considering which shade of green to repaint it to. Ask your realtor for their opinion on which rooms absolutely need a paint job, and leave the rest alone.

A thorough cleaning/decluttering is a must. Decluttering is something you’re going to need to do before moving anyway, so get an early start and make your house look spacious and breezy.

 

What else would you do to prep your house for sale?

 


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Charleston SC Real Estate

5 Advantages of Living in Charleston, SC

by carolinaone_marketing 8. October 2014 10:19

In the past few years Charleston SC, real estate has gotten a lot of attention, and for good reason. Charleston isn't just a good place to invest; it's a great place to live and work. With an abundance of art and culture and southern hospitality to seal the deal, there's almost nothing about this city that you won't like. Here are five reasons you'll love living in Charleston.

 

Metropolitan, but charming

With less than 150,000 people in the city proper, Charleston is the king of big but not too big. The soaring downtown, strong local culture and endless nightlife opportunities would have you thinking you're in a giant metropolis, except that this city is cleaner, safer and more affordable than most big cities can dream of. Maintaining its historic charm, Charleston combines the best of old and new, which makes Charleston, SC real estate an excellent option for those who want city living plus peace and quiet.

Great food and drink

Charleston is a food lover's paradise. With both fresh seafood and a strong history of mouth-watering Southern cooking, Charleston has almost endless options for dining that always seem to combine classic ideas in new ways. Shrimp and grits are an undeniable favorite that every local place has their own take on, and South Carolina style barbecue seems to perfectly sear in the flavor of meat without drying it out. There is also a strong trend toward creative new fine dining spots as well, with a New American movement that won't leave you disappointed.

A fabulous art scene

Charleston has become a more sophisticated and vibrant place over the past decades and that includes a burgeoning art scene. Aside from the Halsey Institute of Contemporary Art and other fine museums, you'll also discover galleries, local artists, and tons of art events.

The ocean

Charleston enjoys a prime location on one of America's finest sections of shoreline. Aside from the inland beauty of the Low Country, you get all the majesty of the ocean. That includes the aforementioned seafood, as well as a large harbor with options for fishing and boating. But the real lure are the gorgeous white sand beaches just minutes out of town, that offer seemingly endless fun with a very long sunny season.

Property values

While everyone comes to Charleston for a different reason, one thing we can all agree on is that we want our homes to be investments that will pay off. With a number of up-and-coming neighborhoods and a strong economy, Charleston offers amazing opportunities to buy low and one day sell high.

 

Are you considering buying real estate in Charleston?

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Charleston SC Real Estate

The Many Neighborhoods of Charleston

by carolinaone_marketing 5. June 2014 10:54

The city of Charleston, SC has been called "The Holy City" and "Chucktown" by a variety of people, but more simply refer to the historic city as "home." Charleston is one of the fastest growing municipalities in the state, and if current trends continue, there are going to be a lot of people looking for Charleston, SC real estate. When some people look for homes in the city, they're much more concerned with price than they are the actual location. Some may say they want downtown and others may want something in the city's suburbs, but in general a lot of people don't know about the distinct neighborhoods the city has. Every block of the city has its own story, and there are some neighborhoods that people can't seem to resist. If you're interested in moving to the city, consider moving to one of these neighborhoods:

South of Broad

Do you want to move to Charleston because you want to live in a historic "old south" city? Have you been saving up to buy a historic or antebellum home? If you want to live in a neighborhood that is full of old south style and feels like an oasis in a modern world, you should consider moving to South of Broad. South of Broad is quite possibly the most exclusive and famous area in the city. The homes here can vary in terms of price, but this isn't a neighborhood for people that are looking for a "cheap" house.

West Ashley

West Ashley is an area of Charleston that has seen a lot of change over the past few decades. The area is surrounded by beautiful marshes and waterfront vistas, but the area didn't go through its recent population and construction boom until around the 1950s. Since then, a thriving and distinct Charleston district has seemingly popped out of the moss and live oak trees. If you see yourself as the kind of person that would love to spend a few weekend nights in the downtown area, this is the ideal neighborhood. It feels like any other suburban area, but it's a short drive (or bus or train ride) to get to all of the city fun.

North Charleston

 

In the past, North Charleston used to be popular with naval families who lived near the Charleston Naval Base and people that worked in nearby factories. When the naval base shut down in the 90s, the area lost a lot of families, but their movement led to a significant drop in real estate prices. Now, the area seems to be going through a revitalization, since homeowners and start-up companies have flocked to the area for its affordable property.  

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Charleston SC Real Estate

7 Phone Apps to Make Your South Carolina Home Search Easier

by carolinaone_marketing 13. March 2014 05:49

Anyone who has bought a home can tell you that the process can be lengthy and detailed. From the price of the home to the number of bedrooms, the amenities and the location, there is a lot to take into consideration.

Staying organized and efficient during the home-buying process can be especially hard. Since you're looking at different homes, keeping track of the prices and features, and are probably applying for a mortgage, the whole process can feel overwhelming. But it no longer has to be -- you can make the job easy by using mobile apps. Today, there are dozens of free and cheap applications you can download on your phone and conveniently use during your search. To help you search for Charleston SC real estate, here are seven apps you should use.

1. Carolina One MOBILE

This free app makes it incredibly easy and convenient to search for real estate in the metro Charleston, South Carolina area.Using the GPS search, it will pull up homes for sale near you. It can also find homes based on the city or zip code. You can find out all of the important details about a home, such as the price, size, mortgage, features, and more. If you see homes that you like, you can instantly save them and e-mail or text them to friends and family. There's also a "Call" feature that will instantly connect you with a Carolina One Mobile real estate professional.

2. House Hunter

When visiting a number of locations, it can certainly be hard to keep track of all the details. The House Hunter apps make it easy by providing a scorecard that lets you rate potential homes and make notes on each one.

3. Mortgage Calculator

This app makes it simple to figure out your monthly mortgage payment on a potential home and also lets you search for the best mortgage rates in your area. In addition, it includes bi-weekly savings details, refinance information, and helpful tips for you to utilize.

4. Dictionary of Real Estate Terms

When shopping for a home, it can be hard to understand some of the terms used by realtors. The Dictionary of Real Estate Terms provides a glossary of words concerning real estate and mortgages, with definitions for home buyers and sellers to help them through the process.

5. AroundMe

Location is an important factor when trying to find the right home. What's around the area? With the AroundMe app, you can search and learn about nearby restaurants, retailers, banks, hospitals, supermarkets, and other establishments.

6. Photo Measures

You find a home you're interested in, but aren't sure if it will provide enough space. The Photo Measures app lets you take pictures of various areas in the home and save the measurements. This allows you to plan your space, should you decide to buy the home.

7. ColorSmart

When looking inside the home, you're probably going to be wondering which colors to paint the rooms. The ColorSmart app lets you visualize different shades in the potential home. All you have to do is take a picture of the area and fill in the wall with the color.

 

 

 

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Charleston SC Real Estate

Things to Know When Purchasing a Vacation Home in SC

by carolinaone_marketing 30. October 2013 05:13

 

Now that we’re in the middle of fall, many of us in the Northeast and Midwest are beginning to prepare for colder weather and some of the problems that come from this. They include higher frequency of illness, icy roads, snow shoveling, and seasonal affected disorder.  To avoid this, many people who can (such as retirees and those who work from remote) will look into purchasing a vacation home to divide the time this year.

 

One of the best places to shop for a second home is in the Charleston, South Carolina area. With warm temperatures and a perfect view of the Atlantic all year round, many tourists have come to call Charleston home. And it can be affordable as well. While certainly a luxury, there are many incentives out there to purchase a second home. Let’s take a look at a few of them to show why owning your own piece of Charleston real estate is a great idea.

 

·         Your loan rate will essentially be the same: According to a Washington Post article published last year, real estate experts who were asked about second home rates said that you could easily get the same rate you would from a principal home. The difference is in the down payment.  While you can put as little as 3.5% down using FHA financing or 5% for commercial financing, you must put at least 10% down for a second home using commercial financing. However, as long as your loan rate is good, your loan rate can be just as low as that of your principal home loan.

·         You’ll get to avoid terrible winters: Depending on where you live, you probably experience winters that aren’t favorable. When you purchase a home in Charleston, you have access to a home that won’t be hindered by many of the bad parts of winters. Charleston winters are generally warmer than other parts of the country, so you can enjoy tennis, walks along the beach and other leisurely activities that require better weather.

·         You’ll experience some of the benefits of a friendly hometown: Most everyone who comes to Charleston, SC will experience friendliness they won’t experience anywhere else. Southern charm isn’t a myth. In addition to great restaurants and beautiful beaches, one of the best benefits of living in Charleston will be knowing who your neighbors are. Those who come call Charleston, SC their second home. You will often find that every person you come across will greet you with a wave and a hello.

 

 

Charleston, SC Real Estate Just Might Be the Ideal Pick for a Second Home

by carolinaone_marketing 29. April 2013 04:52

Buying a second home is a dream for many of our clients, and we’re always happy to share why we think our hometown is the best place to purchase a vacation property. Charleston, SC real estate features a broad range of historic homes, new construction, and condominiums, any of which is ideal for a second home.

This property diversity is often the first thing that attracts clients with the hope of purchasing a second home. From there, we’re careful to point out all of the reasons why this city is the perfect home away from home.

It would be difficult to find a city with better cuisine. Whether you’re in the mood for barbecue, fresh seafood, or something experimental, you’ll find it here. Try Cru Café’s poblano and mozzarella fried chicken or Hominy Grill’s okra and shrimp beignets. Most people need a lifetime to sample the diverse culinary offerings.

Many people are also drawn here by the city’s fascinating past. That history is on display in countless museums, historic homes and parks. This makes every visit a chance to experience the vibrant past in a meaningful way. Charleston also boasts a thriving arts scene. With galleries, live music performances and even theater troupes, there’s always something entertaining happening.

Although food and culture are huge factors in the decision to buy a second home, most people are ultimately swayed by the area’s natural beauty. Park spaces are readily accessible and offer views of scenic spaces. If that’s not enough inducement, there’s the nearby Atlantic coastline with its charming villages. The nearby salt marshes beg to be explored by kayak. The hushed, watery surroundings are the perfect backdrop for spotting manatees.

Charleston, SC real estate also makes the perfect second home because the city is popular with tourists. People from around the world long to visit here, meaning that your second home can be a fabulous source of income. With so much to gain, it’s no surprise that more people are choosing Charleston as their home away from home.

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