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July 2007 - Posts

Tuesday, July 31, 2007 3:19 PM

Signs of a housing market turnaround

I found an interesting article in the Wall Street Journal Online regarding signs of a housing market turnaround. While the article certainly points out many of the problems facing the housing industry today, I noticed that the headline wasn’t the
Posted by Howard Arnoff | 1 Comments
Monday, July 30, 2007 2:42 PM

Is your listing still competing in a changing market

I have some clients coming from out of town in a few weeks to view homes in preparation for their relocation to Charleston. They have been receiving auto notifications of all new listings that come on the market that meet their criteria and they also
Posted by Howard Arnoff | 8 Comments
Monday, July 30, 2007 7:16 AM

Beyond curb appeal

I saw an interesting article in Marketwatch that talked about the value of taking a closer look at the home's landscape before buying. Just as a home inspection helps you determine the condition of the house, looking beyond just how pretty the landscaping
Posted by Howard Arnoff | 0 Comments
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Friday, July 27, 2007 7:46 AM

Credit and housing

I noticed 2 interesting quotes from Vitaliy Katsenelson at Marketwatch commenting on the how credit and housing affected yesterday's stock selloff and while I would like to link to him, the link was either broken or inactive. "There is plenty
Posted by Howard Arnoff | 0 Comments
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Thursday, July 26, 2007 5:20 PM

Stocks fall sharply, 10 year Treasury Bond rates now at 4.79

Stocks fell sharply today with the Dow down over 300 over worries about credit, liquidity and housing but it was actually good news for mortgage rates as 10 year Treasury Bonds were sharply higher pushing rates down to 4.79%. (When bonds are higher, rates
Posted by Howard Arnoff | 0 Comments
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Wednesday, July 25, 2007 1:49 PM

With all the bad news, is it a good time to buy Charleston real estate

Introducing a new feature, Ask the Agent. I get emails from time to time with questions and while I answer directly, I thought a good idea might be to incorporate them into the blog format when appropriate. I can't think of a better question than
Posted by Howard Arnoff | 6 Comments
Wednesday, July 25, 2007 12:02 PM

Comments by Countrywide's Angelo Mozilo take stocks down sharply

Yesterday, Countrywide Financial Corp. (CFC), the largest US mortgage lender, reported 2nd quarter earnings declined and the company reduced its 2007 forecast as a growing number of consumers fell behind on home-equity loan payments. A provision for higher
Posted by Howard Arnoff | 0 Comments
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Tuesday, July 24, 2007 7:11 AM

If a picture is worth a 1000 words, does this say buy me 5000 times

Internet search by real estate consumers has grown immensely over the past few years and at the top of the wish list of every potential home buyer are lots of pictures of homes that meet their search criteria. Many real estate agents provide exactly that
Posted by Howard Arnoff | 0 Comments
Monday, July 23, 2007 8:14 AM

What's wrong with this listing ... let me count the ways

I just noticed a new listing come on the market and it was in a neighborhood that I focus on but the price seemed a little high compared to others. I clicked for more details and what a surprise, I was very familiar with the house because my wife and
Posted by Howard Arnoff | 2 Comments
Monday, July 23, 2007 7:02 AM

Underwriting guidelines are tightening up

There is a good reason why Seattle's Rain City Guide is one of the best read and most authoritive blogs today. This outstanding post by Rhonda Porter is must reading. "Both Fannie Mae and Freddie Mac are tightening up their underwriting guidelines
Posted by Howard Arnoff | 0 Comments
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Friday, July 20, 2007 9:50 AM

In defense of buyers' agents, choose wisely

Jeff Kempe, winner of last week's Carnival of Real Estate with his thoughtful post on Divorced Commissions, writes another outstanding post this week at the Bloodhound Blog. With the trashing of real estate agents seemingly becoming a new professional
Posted by Howard Arnoff | 2 Comments
Thursday, July 19, 2007 4:14 PM

And Redfin says...

we've secured an additional $12 million in financing. Really... and for what purpose? Redfin's business model has been called many things, the President and CEO Glenn Kelman seems to like acting as a "revolutionary" or "rebel"
Posted by Howard Arnoff | 0 Comments
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Wednesday, July 18, 2007 2:07 PM

But Zillow says...

...my house is worth $575,000. Really? A true story. I had an interesting conversation with a potential seller recently who questioned the valuation I put on her home. A little background. I was asked to do a comparative market analysis for a seller to
Posted by Howard Arnoff | 0 Comments
Tuesday, July 17, 2007 12:36 PM

Days on market, how long has this house really been on the market

As I pointed out in a previous post, relist, refresh, deceive , real estate agents have manipulated the days on market data by withdrawing and relisting the property to reset the clock at zero. A follow up article on the Inman News Blog now reports that
Posted by Howard Arnoff | 0 Comments
Monday, July 16, 2007 2:33 PM

Popular communities in the Charleston South Carolina real estate market

What communities within the Charleston South Carolina real estate market are online visitors most interested in? From the statistics on my website for the first 15 days of July, here are the percentages of page views from the 2426 total pages viewed from
Posted by Howard Arnoff | 2 Comments
Monday, July 16, 2007 8:50 AM

Pay your mortgage off early, should you use MMA

I received an email from an associate who is a real estate agent, appraiser and mortgage broker and who has a background in finance regarding a new software product designed to save you money by paying your mortgage off early. "I am writing this
Posted by Howard Arnoff | 0 Comments
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Friday, July 13, 2007 9:49 AM

Real estate q & a

I have linked to Nationally syndicated columnist Lou Sichelman writing at Marketwatch in the past when I noticed an interesting Question and Answer. Today, I thought was one of the best columns he has written and I’d like to comment on just a few
Posted by Howard Arnoff | 0 Comments
Thursday, July 12, 2007 1:22 PM

Can an Internet savvy teenager sell his parent's home...yet

I just got a request for a home evaluation on my website and usually the first thing I do is to check and make sure the request came from the same person who actually owns the house. In today's case, I didn't really have to go that far because
Posted by Howard Arnoff | 0 Comments
Wednesday, July 11, 2007 1:28 PM

Communication may be the greatest skill

I noticed a funny joke with a message the other day and I am reprinting it here courtesy of my friend Cathy Clark. "To Be 6 Again... A man was sitting on the edge of the bed, observing his wife, looking at herself in the mirror. Since her Birthday
Posted by Howard Arnoff | 0 Comments
Tuesday, July 10, 2007 1:32 PM

The Cigar Factory and other new developments on the Eastside in Charleston South Carolina

The Simpson Organization Inc., an Atlanta real estate company, recently purchased The Cigar Factory, a former cotton mill built in the 1880’s on the National Register of Historic Places and a prominent Charleston landmark, for $22 million and plans
Posted by Howard Arnoff | 0 Comments
Monday, July 09, 2007 7:34 AM

Mount Pleasant's I'On turns 10

A wonderful online article with lots of pictures of one of the Charleston South Carolina area's most interesting neighborhoods located in Mount Pleasant. Please click here to view the article by Post and Courier architecture and preservation writer
Posted by Howard Arnoff | 0 Comments
Saturday, July 07, 2007 6:40 AM

Presidential approval ratings 1945 - today

From the Wall Street Journal, this is fascinating no matter which side of the political spectrum you find yourself. By the way, Congress is currently rated at 24% approval according to a Gallup survey June 11-14 . A neat feature of the Wall Street Journal
Posted by Howard Arnoff | 0 Comments
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Friday, July 06, 2007 9:46 AM

Fieldview, a new neighborhood by Simonini Builders in Summerville South Carolina

I had an opportunity recently to view Fieldview, a new neighborhood by Simonini Builders, opening soon in Summerville South Carolina. I was very impressed. Simonini is an award winning Charlotte North Carolina builder known for very high end construction
Posted by Howard Arnoff | 0 Comments
Friday, July 06, 2007 9:29 AM

Strong jobs report sends bond rates higher again

The first Friday of every month is the day the jobs report is released by the government. A stronger than expected report has lifted rates on 10 year Treasury bonds to almost 5.2%, a gain of 20 basis points since I last reported on rates this past Monday.
Posted by Howard Arnoff | 0 Comments
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Thursday, July 05, 2007 2:38 PM

Charleston South Carolina market report, June 2007

As usual, I'll post the statistics for the month of June on Charleston South Carolina real estate activity and comment afterward. One thing that stands out is that both average and median prices were substantially higher this past month with no change
Posted by Howard Arnoff | 9 Comments
Thursday, July 05, 2007 1:08 PM

Relist, refresh, deceive

According to an article I noticed on the Inman News blog, "A Rhode Island Realtor lodged a complaint with the state Realtors association and the state Department of Business over listings information collected by the MLS that he said could be harmful
Posted by Howard Arnoff | 2 Comments
Wednesday, July 04, 2007 4:14 AM

Celebrate the Fourth of July

Charleston South Carolina is celebrating the birthday of the United States with parades, concerts, events and fireworks throughout the area. The residents of our historical city were integral to the birth of America and played important roles in the signing
Posted by Howard Arnoff | 0 Comments
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Tuesday, July 03, 2007 8:33 AM

10 yr treasury update: down from peak

Back on June 12 as 10 Year Treasury Bills soared to over 5.25% carrying corresponding mortgage rates higher, I suggested paying close attention to which direction rates might go. Would they either continue going up, stabilizing at current levels or trend
Posted by Howard Arnoff | 0 Comments
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Monday, July 02, 2007 9:53 AM

North Charleston South Carolina celebrates its 35th birthday on the Fourth of July

Thirty-five years ago, North Charleston was born around Park Circle and annexed the Charleston Naval Base a few months later. North Charleston instantly became the third-largest city in the State of South Carolina, with a population larger than the City
Posted by Howard Arnoff | 0 Comments
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