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December 2008 - Posts

Wednesday, December 31, 2008 8:12 AM

Housing trends from luxury toward green

From to Could 2008 mark the end of the McMansion? Long derided for its excess, this may be the positive result of all the bad news of 2008. But there is the McMansion and there is true luxury real estate and luxury real estate took a pounding in the Charleston
Posted by Howard Arnoff | 0 Comments
Monday, December 29, 2008 10:55 AM

From subprime to bailout, 2008 year in review

Who would have thought when HSBC (Hong Kong and Shanghai Banking Company), the third largest bank in the world, announced in early February 2007 that they were setting aside additional reserves to cover bad debt (from subprime loans) expected to be 20%
Posted by Howard Arnoff | 2 Comments
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Sunday, December 28, 2008 8:40 AM

Non negotiable is not a strategy for success

While I'm currently involved in the longest negotiation of my long and storied Charleston real estate career, a three party negotiation that has dragged on for over two weeks and counting, I noticed a listing that absolutely guarantees a quick resolution.
Posted by Howard Arnoff | 0 Comments
Saturday, December 27, 2008 8:08 AM

It [probably] won't snow at the beach

Our family has it right. One of my neighbors just got back from spending Xmas with their family in Wisconsin with lots of snow and temperatures below zero. We skip the snow and cold and our family will get together at the beach instead. My wife and I
Posted by Howard Arnoff | 0 Comments
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Friday, December 26, 2008 9:31 AM

Pick me, pick me

Sometimes you can be amused at the silliest entertainment. I stumbled across some of the finest and best Charleston real estate agents tripping over each other to attract a client who asked a question about the Charleston real estate market on Trulia
Posted by Howard Arnoff | 0 Comments
Wednesday, December 24, 2008 1:54 PM

Happy Holidays 2008

Happy Holidays!
Posted by Howard Arnoff | 0 Comments
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Wednesday, December 24, 2008 12:08 PM

222 Gordon Street, Wagener Terrace home for sale at $379,900

The details: 222 Gordon Street, Charleston SC 29403 $379,900 | 4 bedrooms | 2 baths | 2 story | 2058 square feet Discover a well maintained brick cottage in desirable Wagener Terrace in move in condition but offering you even more potential and possibilities.
Posted by Howard Arnoff | 0 Comments
Tuesday, December 23, 2008 9:14 AM

Population growth trends continue to South and West

South Carolina's population grew by 1.7% in the past year to once again place in the top 10 according to US Census Bureau data . It's not hard to understand why the South keeps adding population when you hear about the harsh winter weather this
Posted by Howard Arnoff | 0 Comments
Monday, December 22, 2008 8:28 AM

A fascination with statistics

Some people must be fascinated with statistics. I wasn't all that interested until recently and actually, when I was in college, I barely passed a course that I took in statistics but that may have had more to do with a boring teacher than the subject.
Posted by Howard Arnoff | 0 Comments
Sunday, December 21, 2008 8:08 AM

The first day of winter and Hanukkah

Winter in Charleston begins today with temperatures only in the 60's after this past week's record and near record temperatures in the high 70's while residents of the Northeast and Midwest enjoyed? cold and snow. The Charleston weather forecast
Posted by Howard Arnoff | 0 Comments
Friday, December 19, 2008 8:52 AM

Lots of potential and possibilities in Wagener Terrace home for sale

I don't write blog posts about listings like some other real estate bloggers. In my opinion, there are better places to market your listings and not bore your readers by touting a home for sale on your blog. I prefer to prattle on writing over 700
Posted by Howard Arnoff | 0 Comments
Thursday, December 18, 2008 7:18 AM

Is now a good time to refinance

Mortgage rates are currently low, actually they are really low , and there seems to be a rush by many homeowners to refinance. I'm not talking about cash out refinancing and once again using your home as an ATM machine but refinancing to save hundreds
Posted by Howard Arnoff | 0 Comments
Wednesday, December 17, 2008 7:15 AM

Agents don't want to deal with short sales

Take a look at this email that I received from an agent who was marketing a listing: This is NOT a short sale . A great opportunity for any client you may have. Now only $XXX,000 for a 2 bedroom, 2 bath condo in XXX. The property is in very good condition
Posted by Howard Arnoff | 0 Comments
Tuesday, December 16, 2008 7:19 AM

November 2008 Charleston housing report

As promised, an early look at the past month's housing activity throughout the Charleston real estate market. For some reason, I thought it should post around the 15th of the month but when I looked back at last month, it posted on the 10th. As they
Posted by Howard Arnoff | 0 Comments
Monday, December 15, 2008 9:03 AM

A lesson for stubborn sellers

Sometimes the first offer is the best offer. One of my neighbors rejected an offer as inadequate on their home a while ago. The house is currently listed with another agent and is now priced $10,0000 less than the offer that was rejected. Michael Vick's
Posted by Howard Arnoff | 3 Comments
Sunday, December 14, 2008 9:27 AM

Woodlands Resort & Inn, Summerville South Carolina

Tucked in the woods behind a discreet sign about a mile from the Summerville Town Square, The Woodlands Resort & Inn is one of only three lodging properties in America to be awarded the Mobil Five-Star and AAA Five Diamond awards for both lodging
Posted by Howard Arnoff | 0 Comments
Friday, December 12, 2008 8:36 AM

Understanding a lease purchase

There are always inquiries about whether a home for sale in Charleston is available as a lease purchase. But I get the sense that most people don't really understand what is involved in a lease purchase arrangement or why they think it would be advantageous.
Posted by Howard Arnoff | 4 Comments
Thursday, December 11, 2008 8:28 AM

Don't be fooled, your credit does matter

I noticed this sign tacked to a pole the other day. It is aimed at renters who might be interested in buying a brand new home for $500 down and indicates credit is not a problem . That's true, if your credit is good, then it isn't a problem. But
Posted by Howard Arnoff | 0 Comments
Wednesday, December 10, 2008 10:28 AM

2008 Seven Deadly Sins awards

Susan Antilla at Bloomberg penned the Seven Deadly Sins awards for 2008 . Lust - Eliot Spitzer Gluttony - American International Group (AIG) Greed - credit ratings agencies Sloth - Securities and Exchange Commission (SEC) Wrath - The American Taxpayer
Posted by Howard Arnoff | 1 Comments
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Wednesday, December 10, 2008 8:43 AM

Asbestos and cancer

Today, we have a guest post from Jesse Herman, the Awareness Coordinator at the Mesothelioma Cancer Center. Jesse has been reaching out to real estate bloggers in an effort to get some of their information published. For those of you who are considering
Posted by Howard Arnoff | 0 Comments
Tuesday, December 09, 2008 10:18 AM

Another corrupt politician?

From the "tell me it isn't so file", another politician has been arrested, this time it's the Governor of Illinois, Rod Blagojevich, charged with conspiracy to commit wire and mail fraud and solicitation of bribery. His chief of staff,
Posted by Howard Arnoff | 2 Comments
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Tuesday, December 09, 2008 8:05 AM

What's wrong with this picture

I don't remember ever creating a chart showing the trend lines for inventory and absorption rates so what's wrong with this picture. I've said for a long time that there are a lot of homes for sale in the Charleston real estate market. But
Posted by Howard Arnoff | 0 Comments
Monday, December 08, 2008 2:32 PM

Does Tribune bankruptcy signal the death of print

Sam Zell took the Tribune Co. private last year in an multi billion dollar leveraged buyout. Today, they announced they would file for bankruptcy reorganization. I'm originally from Chicago and the bankruptcy of The Tribune, a Chicago institution
Posted by Howard Arnoff | 0 Comments
Monday, December 08, 2008 7:50 AM

[Maybe] It's time to buy that first house

Ron Lieber of the NY Times wrote an interesting article for first time home buyers wondering whether or not to buy in today's difficult real estate market. "Five or 10 years from now, when the financial crisis has ended and housing prices are
Posted by Howard Arnoff | 7 Comments
Saturday, December 06, 2008 9:26 AM

The problem with advertising based search portals

... is that they often lead to a dead end. Trulia sent out this email the other day. Why wouldn't you click through and find a home under $100k in today's Charleston real estate market. I like Trulia, it's got entertainment value, especially
Posted by Howard Arnoff | 0 Comments
Friday, December 05, 2008 8:51 AM

President Bush helps housing industry

... by buying a home in Dallas. We know the lame duck administration of George Bush hasn't done very much to help the housing industry, busying itself with bailing out every bank they can find with no apparent positive results yet from that effort.
Posted by Howard Arnoff | 0 Comments
Thursday, December 04, 2008 8:12 AM

Mortgage rates are low, are they headed even lower

According to Bankrate, mortgage rates are averaging 5.5% for a 30 year fixed rate loan. I have actually heard of even lower rates available from very reliable lenders at both 5.0% and 5.25%. When the Federal Reserve announced that it would buy $500 Billion
Posted by Howard Arnoff | 0 Comments
Wednesday, December 03, 2008 8:19 AM

Charleston real estate market report, home prices, Dec 3, 2008

There is even more pressure on home prices in the Charleston real estate market this month as high inventory and declining demand continue to take a toll. You'll notice that the average sales price is lower than the previous year for the past three
Posted by Howard Arnoff | 0 Comments
Tuesday, December 02, 2008 9:06 AM

Charleston real estate market report, sales and inventory, Dec 2, 2008

Unit sales continue to decline and inventory remains elevated but the absorption rate is now at stratospheric levels. Consider for a moment that the overall absorption rate for all Charleston real estate is over 1 year of inventory when anything over
Posted by Howard Arnoff | 0 Comments
Monday, December 01, 2008 6:27 AM

What's that house worth

The worth of a house in today's Charleston real estate market depends on whether you are buying or selling and the motivation of either the buyer or the seller. By that I mean, the value or worth would depend on whether you like or love the house
Posted by Howard Arnoff | 1 Comments