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November 2007 - Posts

Friday, November 30, 2007 4:41 PM

Median housing prices 2001-2007 in Charleston

Some fascinating statistics for the Charleston South Carolina real estate market. As you know, prices have been stable in the Charleston area despite high inventory and declining unit sales. Here's an interesting look at the median housing prices
Posted by Howard Arnoff | 0 Comments
Friday, November 30, 2007 8:40 AM

Real estate agents at bottom of list of most prestigious occupations

From Harris Interactive, "Firefighters, scientists and teachers are seen as the most prestigious occupations by U.S. adults, while bankers, actors and real estate agents are the least prestigious occupations". As to trends over the years: "Those
Posted by Howard Arnoff | 0 Comments
Thursday, November 29, 2007 4:08 PM

In this house, doors are included

Only because on the same day I posted the laundry room picture (open and showing the mess inside) I just came across another new listing when searching for a beautiful golf course home in the Charleston area for a new client. Lo and behold, this picture
Posted by Howard Arnoff | 0 Comments
Thursday, November 29, 2007 8:03 AM

Is the home included with the laundry room

Sometimes I wonder if sellers know how their real estate agent is marketing their home. Another notable picture in the world of Charleston South Carolina real estate is this excellent photo of the laundry room, and messy as well. To be fair, there were
Posted by Howard Arnoff | 0 Comments
Wednesday, November 28, 2007 2:18 PM

Housing affordability in Charleston

Brian Brady is a gifted writer, mortgage broker and more. I learn a lot when I read what he has to say. One of the biggest issues in housing today is affordability, or more specifically a lack of it. Whether it is the Charleston South Carolina real estate
Posted by Howard Arnoff | 0 Comments
Tuesday, November 27, 2007 1:53 PM

Mortgage rates and 10 year US Treasury Bills

I've always used the 10 year US Treasury Bill as a proxy for mortgage rates and I've noted before that it isn't perfect but does provide a trend. I noted previously that there has been somewhat of a disconnect in the relationship recently
Posted by Howard Arnoff | 0 Comments
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Tuesday, November 27, 2007 10:46 AM

Case-Shiller index and home price declines

The Case-Shiller index came out this morning with more news on home price declines but there is somewhat of a disconnect between the headline and the story. The Headline: Home prices falling everywhere: S&P Down 4.5% nationally over past year, says
Posted by Howard Arnoff | 0 Comments
Monday, November 26, 2007 3:37 PM

The Odysseus Medals for Nov 26 have now been posted

at the BloodhoundBlog for the best writing in the real estate blogosphere. Gary Elwood takes home top honors for this outstanding post on blogging and why it is the best 2 way Internet communication tool so far developed. Please read, Naked Conversations:
Posted by Howard Arnoff | 0 Comments
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Monday, November 26, 2007 2:51 PM

Miss a few days, you might miss a lot

I remember when Jay Thompson, The Phoenix Real Estate Guy , took a few days off to go to Mexico and posted that his blog reader had almost 1000 posts when he returned. Well, I spent a week at the beach during Thanksgiving and even though I had my computer
Posted by Howard Arnoff | 0 Comments
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Monday, November 26, 2007 11:53 AM

Mortgage rates are down

If you haven't noticed, mortgage rates have been declining nicely as the stock market has been declining and 10 Year US Treasury rates have fallen below 4%. Mortgage rates courtesy Countrywide 11/26/2007 Conforming, 1% loan origination fee 30 year
Posted by Howard Arnoff | 0 Comments
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Thursday, November 22, 2007 7:36 AM

Charleston real estate blog one year anniversary - number five

The Charleston real estate blog celebrated its 1 year anniversary on November 20th and while we are spending Thanksgiving at the beach with our family, I wanted to wish everyone a very happy holiday hopefully spent with family and good friends. Having
Posted by Howard Arnoff | 0 Comments
Wednesday, November 21, 2007 7:29 AM

Charleston real estate blog one year anniversary - number four

Once a popular pastime, mortgage equity withdrawal is less often being used to buy fancy cars and taking vacations. This article talked about when to refinance and the good and bad reasons for taking equity out of your house. One good reason to take equity
Posted by Howard Arnoff | 0 Comments
Tuesday, November 20, 2007 6:53 AM

Charleston real estate blog one year anniversary - number three

To celebrate the anniversary date, my personal favorite and also my most widely read post by page views. When I ended a post about searching for homes with a tidbit of advice, "Finally, one more little thought, perhaps the first search one should
Posted by Howard Arnoff | 0 Comments
Monday, November 19, 2007 7:17 AM

Charleston real estate blog one year anniversary - number two

My first post to get over 1000 views, probably because the keyword Seinfeld was so strong. This was a real life Jerry Seinfeld story. The story is about money and real estate agent commissions. When money is involved, there is generally a little less
Posted by Howard Arnoff | 0 Comments
Sunday, November 18, 2007 8:22 AM

Charleston real estate blog one year anniversary - number one

The Charleston real estate blog celebrates its 1 year anniversary on November 20th and while we are at the beach enjoying Thanksgiving with our family, I thought I would highlight some of the most viewed posts and a few personal favorites from the past
Posted by Howard Arnoff | 1 Comments
Friday, November 16, 2007 7:03 AM

Lease purchase options

A good ask the agent question. I've gotten a number of emails recently asking about lease purchase options especially from people who are relocating to the Charleston South Carolina real estate market. Here's my take. In very general terms, if
Posted by Howard Arnoff | 0 Comments
Wednesday, November 14, 2007 5:51 PM

Foreclosures as a percentage of all mortgages

The news is bad, foreclosure numbers came out again courtesy of RealtyTrac, but an interesting chart shows how many houses in America won't be affected because surprisingly, 32% of all homes owned in the United States don't even have a mortgage.
Posted by Howard Arnoff | 0 Comments
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Tuesday, November 13, 2007 5:59 PM

Then and now, how times have changed in the housing market

I noticed a cute post at Inman News Blog about how times have changed in the real estate market. Written by Doug Buenz, an associate broker with Alain Pinel Realtors in Pleasanton California, some excerpts. Then: Hoping for multiple offers on your home
Posted by Howard Arnoff | 0 Comments
Monday, November 12, 2007 7:46 PM

Honor thy father

This has nothing to do with Charleston South Carolina real estate but more important matters like NFL Football and fathers. Dick Nolan, former NFL player and coach passed away and his son, Mike Nolan is the coach of his former team, the San Francisco
Posted by Howard Arnoff | 0 Comments
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Monday, November 12, 2007 8:45 AM

Give me your ARM, and your leg too

From everything we are reading in the media today, an adjustable rate mortgage (ARM) is now considered to be a bad mortgage and the cause for today's mortgage mess. Unfortunately, that is the nature of the media, attention grabbing headlines that
Posted by Howard Arnoff | 2 Comments
Friday, November 09, 2007 9:51 AM

The high cost of bad judgment

Bad lending, bad borrowing and bad judgment by everyone. Some lenders misled borrowers, some homeowners borrowed more than they could afford and financial institutions transformed mortgages into securities that were traded like baseball cards without
Posted by Howard Arnoff | 2 Comments
Thursday, November 08, 2007 9:45 AM

Charleston South Carolina real estate market report, October 2007

The trends are so firmly entrenched that this is almost getting boring . The Charleston South Carolina real estate market continues to have declining sales, inventory levels while high but no longer increasing month over month and prices that remain stubbornly
Posted by Howard Arnoff | 0 Comments
Wednesday, November 07, 2007 12:42 PM

Surprise, the home inspection revealed problems

Just about every buyer who purchases a home in the Charleston South Carolina real estate market obtains a home inspection. Buyers have the right to have a home inspection and then ask the seller to make the requested repairs. If you are selling your home,
Posted by Howard Arnoff | 0 Comments
Tuesday, November 06, 2007 11:05 AM

Would you want to buy this chandelier...

...or take a chance and buy the home. With over 7000 available homes for sale in the Charleston South Carolina real estate market, if you are looking to buy a home you have to select the most likely candidates to view from the many listings available.
Posted by Howard Arnoff | 2 Comments
Monday, November 05, 2007 3:45 PM

The Odysseus Medals for November 5 have now been posted

at the BloodhoundBlog for the best writing in the real estate blogosphere. Bill Leider takes home top honors for a most interesting article, What is a Professional? Click here to get links to Black Pearl winner, Brian Brady and People’s Choice winner,
Posted by Howard Arnoff | 0 Comments
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Monday, November 05, 2007 1:33 PM

Southern Living loves Charleston...

...and we love Southern Living. I just purchased some new storage containers to organize the many years of Southern Living Magazine we have and while I was putting them away, I couldn't help but notice how many articles featured some aspect of the
Posted by Howard Arnoff | 0 Comments
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Friday, November 02, 2007 6:56 AM

Fall is for planting and Ward's Garden Center in Summerville is the place to go

There is no better time to plant trees and shrubs than in the fall and there is no better place to buy than Ward's Garden Center on Butternut Road in Summerville. We've been going there for years and have recommended Ward's to friends and
Posted by Howard Arnoff | 0 Comments
Thursday, November 01, 2007 9:37 AM

National real estate prices, up down and stable

I've indicated that the Charleston South Carolina real estate market prices have been very stable for the past year despite declining unit sales and high inventory levels. The media has been nothing short of ferocious with negative headlines which
Posted by Howard Arnoff | 0 Comments