October Real Estate Update: Summerville & Charleston Area

Here is a wrap up of Charleston Real Estate sales activity for October. ( Previous Market Reports for Charleston SC & Summerville SC) 

Summerville: (More Info)

• Houses Sold: 172
• Average Sale Price: $174,206
• Average Days on Market: 92
• Average List Price: $179,912
• Average Percent of Sale/List Price: 97.02%

Moncks Corner & Goose Creek: (More Info)

• Houses Sold: 89
• Average Sale Price: $156,276
• Average Days on Market: 65
• Average List Price: $159,276
• Average Percent of Sale/List Price: 97.53%

Hanahan: (More Info)

• Houses Sold: 28
• Average Sale Price: $187,737
• Average Days on Market: 95
• Average List Price: $195,061
• Average Percent of Sale/List Price: 94.91%

North Charleston: (More Info)

• Houses Sold: 68
• Average Sale Price: $138,925
• Average Days on Market: 93
• Average List Price: $144,300
• Average Percent of Sale/List Price: 96.71%

Charleston (The Peninsula): (More Info)

• Houses Sold: 20
• Average Sale Price: $1,058,665
• Average Days on Market: 117
• Average List Price: $1,183,815
• Average Percent of Sale/List Price: 86.15%

Mt. Pleasant: (More Info)

• Houses Sold: 108
• Average Sale Price: $314,277
• Average Days on Market: 125
• Average List Price: $333,099
• Average Percent of Sale/List Price: 95.73%

To discuss selling your home or buying a new home please contact me at Foster@HomesofSummerville.com or www.HomesofSummerville.com.

$8,000 Tax Credit Extended & Expanded

Great News for those buying a home!  Congress has extended and expanded the Homebuyer Tax Credit.  See the table below to understand the modifications and changes.  Please call or email me if you have any questions at Foster@HomesofSummerville.com. 

Feature	January 1-November 30,2009Rules as enacted Feb 2009	December 1-April 30,2010 Rules as enacted Nov. 2009
First Time Buyer – Amount of Credit	$8000($4000 married filing separate)	$8000($4000 married filing separate)
First Time Buyer – Definition of Eligibility	May not have had an interest in a principal residence for 3 yrs. Prior to purchase	Same
Current Homeowner – Amount of Credit	No Provision	$6500($3250 married filing separate)
Effective Date – Current Owner	No Provision	Date of Enactment
Current Homeowner – Definition for Eligibility	No Provision	Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years
Termination of Credit	Purchases after Nov. 30,2009 (Becomes April 30,2010 on Date of Enactment)	Purchases after April 30,2010
Binding Contract Rule	None	So long as a written binding contract to purchase is in effect on April 30,2010, the purchase will have until July 1,2010 to close.
Income Limits	$75,000-Single$150,000-Married Additional $20,000 phase out	$125,000-Single$225,000-Married Additional $20,000 phase out
Limitation on Cost of Purchased Home	None	$800,000Effective Date of Enactment
Purchase by a Dependent	No Provision	IneligibleEffective Date of Enactment
Anti-Fraud Rule	None	Purchaser must attach documentation of purchase to tax return

It is a great time to buy a home for three wonderful reasons:

1. Interest Rates are at Historic Lows- The Fed has announced it will pull back on the purchase of mortgage-backed securities in March.  Experts believe that will drive interest rates to over 6 percent.
2. Tax Credits if you buy now. Tax Credis are due to expire the first half of 2010.
3. Great Selection! 

 

Halloween Events in Summerville

Halloween at Magnolia Plantation
When: October 29, 30 and 31, 6:00pm – 9:00pm
Where: Magnolia Plantation
Cost: $10 per carload up to six people

Come to Maganolia Plantation to enjoy popcorn, swamp juice, movie “swamp thing,” bonfire, marshmallow roast, nighttime train rides, cabin project tours and African-American/ Gullah folklore. Call (843) 571-1266 for more information.

Pumpkin Patch and Hayrides
When: October 30 – 31; opens at 9:00am 
Where: Knightsville United Methodist Church,
 1505 Central Ave. 
 
Knightsville United Methodist Church will hold its Annual Pumpkin Patch until Halloween. For information call 875-2117.

Trick or Treat at the Summerville Farmers Market
When: October 31, 8am – 1pm
Where: Doty Street near Town Square
 
Vendors will pass out candies at the Summerville Farmers Market “Trick or Treat.” The farmers market features fresh vegetables and fruits, jellies and jams, fresh local honey, handmade soap and dog biscuits, herbs, plants, baked goods, kettle corn, italian ice and sweet grass baskets. The market will continue through November 21.

Jack O’Lantern Jubilee and Family Fun Night
When: Saturday, October 30; 5:00pm 
Where: Downtown YMCA
 
The Downtown YMCA facility is open to the community. Enjoy Zumba, Wii games, pot luck dinner, costume contest, free Halloween pictures, pumpkin carving and more! For more details call (843) 871-9622 or visit www.summervilleYMCA.org

 

 

Free Small Cookie & Hot Chocolate at Barnes & Noble Tomorrow!

Every once in awhile I run across a fun freebie that I like to share with my clients and friends.  Use this  printable coupon to get a free small cookie and a kid’s sized hot chocolate at Barnes & Noble valid on 10/24/2009 only. (That’s TOMORROW!!)  -Scroll about half way down the page-

Fun date with your child or grandchild. I just noticed that they are doing storytime tomorrow as well. (Can you tell I am a Grandad? ) Here are The Barnes & Nobles near us in Charleston.

October Best Buys of Summerville over $250,000

Below, you will find the top buys in the Summerville, SC area listed above $250,000.

To see the best buys under $150,000, Click Here.

To see the Best buys between 150K-250K, Click Here

If you have any questions on these homes, give me a call at 1-800-942-1828 x6029 or e-mail me at Foster@HomesofSummerville.com. Quickly.  These go fast. 

-Click on each address for more details on each listing.-

MLS Number	Address	City	Price	Square Feet	Price/Sq.Ft.
2926170	131 Berwick	Summerville	$279,990	3381	$82.81
2927511	5438 Rising Tide	N. Charleston	$267,000	3000	$89.00
2927553	5104 Cercial Court	Summerville	$269,900	3000	$89.97
2927037	5003 W Liberty Meadows	Summerville	$278,485	3013	$92.43
2926705	111 Catbriar Ct	Summerville	$328,000	3543	$92.58
2927142	225 Stallsville Loop	Summerville	$279,000	3000	$93.00
2926410	5504 Indigo Fields	N. Charleston	$350,000	3700	$94.59
2926847	187 Carolinian Dr	Summerville	$277,900	2800	$99.25
2927416	724 Beverly	Summerville	$263,000	2608	$100.84
2926423	5258 Mulholland	Summerville	$299,000	2900	$103.10
2927203	433 Chemistry Cir	Summerville	$278,000	2685	$103.54
2926989	1049 Trotters Blvd	Summerville	$259,000	2350	$110.21
2926933	105 Old Postern	Summerville	$365,000	3309	$110.31
2926211	101 Squire Ct	Summerville	$340,000	2975	$114.29
2926253	109 Oolong Ln.	Summerville	$269,900	2800	$115.32
2927553	5104 Cercial Court	Summerville	$269,900	3000	$89.97
2927803	506 Fairington	N. Charleston	$284,950	2750	$103.62
2926516	128 Heart Pine	Summerville	$399,900	3800	$105.24
2927538	323 Amaryllis	Summerville	$329,900	3106	$106.21
2926352	5300 Mulholland	Summerville	$274,900	2519	$109.13

Foster@HomesofSummerville.com or call 1-843-974-6029.

October Best Buys of the Summerville Area between 150-250K

These are the top buys in the Summerville, SC area ranging from $150,000-$250,000.   To see the best buys under $150,000, Click Here. To see the best buys over$250,000, Click Here. Some of these are short sales, some foreclosures, some going to auction.  If you have any questions on these homes, give me a call at 1-800-942-1828 x6029 or e-mail me at Foster@HomesofSummerville.com. Quickly.  These go fast. 

-Click on each address for more details on each listing.-

MLS Number	Address	City	Price	Square Feet	Price/Sq.Ft.
2926948	1036 Waterside Landing	Summerville	$196,790	2641	$74.51
2926843	8105 Bankshire Trail	N. Charleston	$155,000	1992	$77.81
2927333	5209 Carlisle Ct	Summerville	$170,000	2150	$79.07
2926673	5555 Indigo Fields	N. Charleston	$214,900	2700	$79.59
2926638	6004 Snead Ln	Summerville	$211,000	2626	$80.35
2926345	3030 Ellington	Summerville	$212,500	2641	$80.46
2927747	111 Apache	Summerville	$150,000	1780	$84.27
2927042	4800 Newkirk St	Ladson	$199,490	2354	$84.75
2927064	1013 Bridlewood Farms	Ridgeville	$165,690	1926	$86.03
2926328	121 Garden Grove	Summerville	$170,000	1950	$87.18
2926966	1026 Waterside Landing	Summerville	$191,820	2182	$87.91
2927581	8623 Aurora	N. Charleston	$185,000	2050	$90.24
2927514	8478 Signal Island	Summerville	$213,000	2348	$90.72
2926210	9004 Hema	Summerville	$199,000	2160	$92.13
2927743	2003 Culloden	Summerville	$174,750	1855	$94.20
2927673	1016 Bridlewood Farms	Ridgeville	$169,500	1740	$97.41
2926142	112 Foxglove	Summerville	$179,900	1837	$97.93

Foster@HomesofSummerville.com or call 1-843-974-6029.

October Best Buys of the Summerville Area under 150K

These are the top buys in the Summerville, SC area listed under$150,000 that are currently active on the market..   (Best Buys over $150,000, Best Buys over $250,000)  Some of these are short sales, some foreclosures, some going to auction.  If you have any questions on these homes, give me a call at 1-800-942-1828 x6029 or e-mail me at Foster@HomesofSummerville.com. Quickly.  These go fast. 

MLS Number	Address	City	Price	Square Feet	Price/Sq.Ft.
2909848	209 Bramblewood	Summerville	$87,900	2200	$39.95
2736066	193 Dorchester Manor	Summerville	$90,000	2000	$45.00
2923861	106 Kings Way	Summerville	$83,900	1750	$47.95
2911467	309 Regent St	Summerville	$76,800	1973	$38.93
2921665	108 Jackson	Summerville	$130,000	1735	$74.93
2925665	108 Sandlewood	Summerville	$69,900	1420	$49.23
2924025	100 Candlewood	Summerville	$119,000	2400	$49.58
2912588	8207 Quail Hollow Ct	N. Charleston	$85,410	1632	$52.33
2923096	170 Hummingbird Ln	Summerville	$119,000	2000	$59.50
2903669	106 Quail Drive	Summerville	$85,000	1375	$61.82
2924380	130 Heart Pine Circle	Summerville	$150,000	2350	$63.83
2921708	127 Dunbury Dr	Summerville	$124,900	1934	$64.58
2926184	102 Chestnut Oaks	Summerville	$109,900	1685	$65.22
2926514	102 Lionel	Summerville	$109,109	1650	$66.13
2924469	5 Claybourne	Summerville	$144,990	2146	$67.56
2907450	8735 Water Ash Way	N. Charleston	$106,830	1568	$68.13
2915880	4819 Shady Tree Ln	Summerville	$110,000	1583	$69.49
2910713	9019 Maple Grove Dr	Summerville	$119,900	1708	$70.20
2915203	169 Sweet Alyssum	Summerville	$150,000	2114	$70.96
2925565	5079 Ballantine Dr	Summerville	$150,000	2099	$71.46
2924650	120 Lancer Drive	Summerville	$139,900	1852	$75.54
2921985	711 Hemingway Cir #10	Summerville	$105,900	1395	$75.91
2924365	715 Hemingway Cir #12	Summerville	$105,900	1395	$75.91
2924465	4 Claybourne Ct	Summerville	$137,900	1814	$76.06
2921517	161 Black River	Summerville	$119,900	1552	$77.26
2924156	128 Sawmill Dr	Summerville	$139,900	1806	$77.46
2927291	134 Destin St	Summerville	$130,000	1665	$78.08
2925346	9164 Maple Grove	Summerville	$125,000	1600	$78.13
2908779	207 N Palmetto	Summerville	$123,750	1673	$73.97
2914180	231 Grand Oaks #2303	Summerville	$126,960	1685	$75.35
2832843	219 Grand Oaks #2202	Summerville	$126,960	1685	$75.35

Foster@HomesofSummerville.com or call 1-843-974-6029.

Is the Recession Ending?

As 2009 moves into the fourth quarter, many are analyzing if we are moving out of the recession and where the state of the economy is now located.  I received an article from Edward Jones last week that made some good points that I thought I would share some of them with you.  Of course, I don’t agree with everything but their stats are interesting and do show that  positive movement in our economy has occurred and is continuing.

1.  Economic Indicators are Positive.  Stock Market, measured by the S&P 500 had risen 50% from March lows.
2. Global Economies are recovering.  The OECD (Organization for Economic Cooperation and Development) leading indicators for its 33 member countries recorded the largest increase since records begain in 1962.
3. Federal Reserve’s Efforts to stablilize the Financial System are working.  Slashing interest rates and pumping trillions into the financial system restored money and corporate credit markets.  Corporate America has taken advantage of attractive rates, issuing more than 800 billion in new bonds during the first 7 months of 2009.
4. Bank Lending is Increasing.  While standards are expected to reamin tight compared to historical standards, the improvement that has occurred should be enough to support economic recovery.
5. Expectations for 2010 Economic Growth continue to improve.  Wall Street Journal surveyed economists and 80% said they believed the recession either had already ended or would by September.
6. Manufacturing is on the Rebound.  The Fed said industrial production rose .8% in August comparted to july.  This was the largest back to back gain since 2005 and followed nine consecutive monthly declines.  European industrail orders increased 2.6% in July compared to June, the second consecutive increase.

(Points adapted and summarized from Edward Jones)

September Real Estate Wrap Up for Summerville & Charleston Area

Here is a wrap up of Charleston Real Estate sales activity for September. ( Previous Market Reports for Charleston SC & Summerville SC) 

Summerville: (More Info)

• Houses Sold: 129
• Average Sale Price: $167,857
• Average Days on Market: 84
• Average List Price: $172,995

Moncks Corner & Goose Creek: (More Info)

• Houses Sold: 57
• Average Sale Price: $148,419
• Average Days on Market: 79
• Average List Price: $150,911

Hanahan: (More Info)

• Houses Sold: 12
• Average Sale Price: $161,739
• Average Days on Market: 95
• Average List Price: $164,578

North Charleston: (More Info)

• Houses Sold: 43
• Average Sale Price: $127,678
• Average Days on Market: 90
• Average List Price: $133,575

Charleston (The Peninsula): (More Info)

• Houses Sold: 12
• Average Sale Price: $821,991
• Average Days on Market: 144
• Average List Price: $880,991

Mt. Pleasant: (More Info)

• Houses Sold: 82
• Average Sale Price: $352,753
• Average Days on Market: 142
• Average List Price: $379,068

 

To discuss selling your home or buying a new home please contact me at Foster@HomesofSummerville.com or www.HomesofSummerville.com.

September Best Buys of the Summerville Area under 150K

These are the top buys in the Summerville, SC area listed under$150,000 that are currently active on the market..   To see the best buys over $150,000, Click Here. To see the best buys over $250,000, Click Here. Some of these are short sales, some foreclosures, some going to auction.  If you have any questions on these homes, give me a call at 1-800-942-1828 x6029 or e-mail me at Foster@HomesofSummerville.com. Quickly.  These go fast. 

MLS Number	Address	City	Price	Square Feet	Price/Sq.Ft.
2912514	102 Doris Court	Summerville	$49,800	1792	$27.79
2907623	212 Warington St	Summerville	$74,900	1866	$40.14
2918627	401 Twin Lakes	Summerville	$69,500	1694	$41.03
2911467	309 Regent St	Summerville	$86,400	1973	$43.79
2921665	108 Jackson	Summerville	$130,000	1735	$74.93
2924017	108 Roberta Dr	Summerville	$97,000	1960	$49.49
2924025	100 Candlewood	Summerville	$119,000	2400	$49.58
2912588	8207 Quail Hollow Ct	N. Charleston	$85,410	1632	$52.33
2919596	115 Canvaback	Summerville	$113,500	2100	$54.05
2815292	222 Barshay	Summerville	$89,000	1600	$55.63
2921492	198 Tupalo	Summerville	$85,000	1501	$56.63
2923096	170 Hummingbird	Summerville	$119,000	2000	$59.50
2723298	113 Malori	Summerville	$125,000	2027	$61.67
2909484	110 Pamela	Summerville	$64,900	1050	$61.81
2925218	2037 Azalee	Summerville	$132,000	2097	$62.95
2907582	216 Bramblewood	Summerville	$125,000	1950	$64.10
2918813	114 Cedar Grove	N. Charleston	$125,000	1940	$64.43
2921708	127 Dunbury	Summerville	$124,900	1934	$64.58
2917383	110 Beverly Dr	Summerville	$103,700	1600	$64.81
2925415	107 Rosario	Summerville	$139,000	2096	$66.32
2908779	821 W 3rd St	Summerville	$59,900	900	$66.56
2921914	110 Pintail	Summerville	$135,000	2026	$66.63
2910713	9019 Maple Grove	Summerville	$120,000	1708	$70.26

Foster@HomesofSummerville.com or call 1-843-974-6029.