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March 2009 - Posts

Tuesday, March 31, 2009 7:07 AM

Charleston real estate market report, March 31, 2009, home prices

Home prices continue to be pressured by several factors including the economy, low consumer confidence, fear and high inventory levels with over 10,0000 available homes for sale in the Charleston area. But in my opinion, the biggest reason we are seeing
Posted by Howard Arnoff | 0 Comments
Monday, March 30, 2009 7:00 AM

Charleston real estate market report, March 30, 2009, sales and inventory

Sometimes you just have to wonder why you should spend a couple of hours compiling statistics and creating pretty charts when it would be just as easy to not bother and just copy the previous month's Charleston real estate market report because there
Posted by Howard Arnoff | 0 Comments
Saturday, March 28, 2009 6:33 AM

A Charleston foreclosure

I think there are two kinds of foreclosures; there are foreclosures that we should feel sorry for because the family has lost their home because of a job loss, illness, death, divorce or possibly taking out a loan they probably shouldn't have and
Posted by Howard Arnoff | 0 Comments
Friday, March 27, 2009 6:42 AM

Where's the master suite

I find that most buyers looking for homes for sale in Charleston want to know where the master suite is; Is it up, down and in many cases, they may even be interested in even more detail. For many people who are planning on retiring to the Charleston
Posted by Howard Arnoff | 0 Comments
Thursday, March 26, 2009 7:01 AM

Be careful

I don't suppose I'm that different from most everyone who uses the Internet in that I'm very careful online about who and when I give my contact information away. At least I hope that's the case and that you are careful because there are
Posted by Howard Arnoff | 4 Comments
Wednesday, March 25, 2009 7:00 AM

[It's always] Location, location, location

I just received feedback from one of my listings (a very nice townhome in Mount Pleasant) and the showing agent indicated that the clients did not want to be in the first unit as they drove in to the community. Basically, the agent said that location
Posted by Howard Arnoff | 0 Comments
Tuesday, March 24, 2009 7:30 AM

Bottom's up

I know St. Patrick's Day was last week but action by the Fed didn't bring down mortgage rates until after they finished drinking some green beer and getting even more serious about stabilizing the housing market by announcing that they would buy
Posted by Howard Arnoff | 9 Comments
Monday, March 23, 2009 9:16 AM

Charleston short sales

A quick look at homes for sale in the Charleston MLS will show lots of homes indicated to be possible short sale opportunities. I've mentioned that short sales are never short and rarely result in a sale. Many buyers who understand the short sale
Posted by Howard Arnoff | 0 Comments
Saturday, March 21, 2009 7:19 AM

Charleston mortgage report, Spring 2009

Mortgage rates are great. It's a great time to buy or refi. Other than a few days this past December when we saw rates drop sharply only to rebound quickly, actions by Uncle Ben and the Fed the past few days means that if you are planning on buying
Posted by Howard Arnoff | 2 Comments
Friday, March 20, 2009 6:17 AM

Why is that listing so overpriced

In most neighborhoods, list prices for homes are pretty similar. The price of homes are based on square footage and upgrades. So the other day when two homes came on the market, I wondered what might be so special about the smaller home of the two that
Posted by Howard Arnoff | 0 Comments
Wednesday, March 18, 2009 12:46 PM

Charleston real estate sales activity is now concentrated in lower priced homes

We have all heard the dismal news regarding home prices, at first it was confined to the "bubble" markets such as Phoenix and Las Vegas, California and Florida. Prices in the Charleston real estate market held very steady for a long time despite
Posted by Howard Arnoff | 0 Comments
Tuesday, March 17, 2009 7:50 AM

Charleston military families may get government help when selling their homes at loss

Like many Charleston home sellers, military families who purchased a home and now get orders to move are facing a difficult real estate market when selling their home. But a small provision in the in the economic recovery plan may provide a little help.
Posted by Howard Arnoff | 0 Comments
Monday, March 16, 2009 5:16 AM

Does everyone want to buy a foreclosure in Charleston

... or does it just seem that way. I can't count the numbers of inquiries I get regarding foreclosures available for sale in Charleston. Our office just printed a foreclosure list and indicated on our sign that you could pick one up at the front desk
Posted by Howard Arnoff | 4 Comments
Saturday, March 14, 2009 7:09 AM

A little fun in the neighborhood

A little fun in the neighborhood on Saturday compliments of Kris Berg . Remember, you can pick your neighborhood but not your neighbor. I may have to borrow this For Sale sign when it's time for me to sell.
Posted by Howard Arnoff | 0 Comments
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Friday, March 13, 2009 8:15 AM

Has the Charleston real estate market reached the bottom yet

I'm sure that many Charleston real estate buyers are sitting on the sidelines waiting for the bottom to be reached before buying a home. One popular phrase is that no one wants to catch a falling knife. One week ago, I wrote about Wall Street's
Posted by Howard Arnoff | 4 Comments
Thursday, March 12, 2009 7:35 AM

South Carolina jobless rate makes national news

... and sadly, it's bad news, not good. The unemployment report came out and it was pretty bad news for most of the country and South Carolina was no exception. Our state was one of four that hit double digit unemployment along with Michigan, Rhode
Posted by Howard Arnoff | 0 Comments
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Wednesday, March 11, 2009 6:17 AM

Searching for Charleston homes and real estate agents

Almost everyone who is considering buying or selling a home in Charleston begins their search online. But what is the typical Charleston online home buyer really looking for, a home or a real estate agent or both. I snagged this comment from somewhere
Posted by Howard Arnoff | 0 Comments
Tuesday, March 10, 2009 7:39 AM

Charleston home sales activity picks up sharply

Less than two weeks ago, I wrote that the Charleston real estate market outlook brightens with increased activity . As of today (Feb 26), a mere 237 homes have closed in the Charleston real estate market during February. That will increase because of
Posted by Howard Arnoff | 0 Comments
Monday, March 09, 2009 6:04 AM

An offer to buy is the only feedback that really matters

It's traditional for Charleston real estate agents to ask agents who are showing their listings for feedback. As part of the service provided by Centralized Showing Service which sets appointments to view most Charleston homes for sale, an automatic
Posted by Howard Arnoff | 0 Comments
Saturday, March 07, 2009 7:51 AM

Are Charleston home sellers getting more realistic

I'm beginning to notice that stubborn Charleston home sellers are getting more realistic in pricing their homes for sale and negotiating the precious few offers that they might receive. I almost jumped out of my desk chair yesterday when I noticed
Posted by Howard Arnoff | 0 Comments
Thursday, March 05, 2009 2:35 PM

Quick takes

Items of interest from Charleston and elsewhere. Walk for the Cure David Weekley Homes is having a Showcase Home Walk tomorrow, Friday March 6th starting at 9AM in their 4 participating communities. For each home you walk through, David Weekley Homes
Posted by Howard Arnoff | 2 Comments
Wednesday, March 04, 2009 10:59 AM

Obama administration promises mortgage relief to help 9 million borrowers

The Treasury department today announced the latest and greatest attempt to help troubled homeowners needing mortgage relief. Previous efforts have been nothing short of abysmal failures. But are 9 million borrowers really going to get meaningful government
Posted by Howard Arnoff | 0 Comments
Tuesday, March 03, 2009 8:03 AM

A good dog deserves a bone

... but all distressed homeowners ( home owers ) should not be bailed out. A client planning on relocating to Charleston will be visiting in a few weeks and sent me some listings that they would like to see. One of them was a short sale and as I generally
Posted by Howard Arnoff | 2 Comments
Monday, March 02, 2009 8:28 AM

Charleston real estate market report, March 2, 2009, home prices

Charleston home prices have been under pressure for the past several months as the financial crisis took its toll and the economy worsened. Most sales activity took place at the lower end of the housing market so absent very many sales of mid and higher
Posted by Howard Arnoff | 0 Comments
Sunday, March 01, 2009 9:58 AM

Charleston real estate market report, March 1, 2009, sales and inventory

Sales activity was down sharply for the second month in a row (and most likely will be in February as well) in the Charleston real estate market. It shouldn't come as much of a surprise considering the financial crisis accelerated during September,
Posted by Howard Arnoff | 0 Comments