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January 2010 - Posts

Sunday, January 31, 2010 11:56 AM

Charleston real estate market report, sales and inventory, January 31, 2010

The end of the year Charleston real estate market report is always the best of the 12 monthly Charleston housing market analyses for several reasons. First of all, I always go back and update all the late reporting from the past year to provide the most
Posted by Howard Arnoff | 0 Comments
Friday, January 29, 2010 7:11 AM

Charleston short sales [The Good, the Bad and the Ugly]

From the title of the famous Clint Eastwood "spaghetti western", a quick look at possible advantages and disadvantages of buying a short sale in today's and tomorrow's Charleston real estate market. Possible advantages of buying a short
Posted by Howard Arnoff | 1 Comments
Wednesday, January 27, 2010 8:02 AM

Real estate agent commissions and bonus

Everyone thinks real estate agents are overpaid. I think it goes back to the old days when real estate agents used to advertise that they were multi million dollar producers and then people would multiply by the " sacrosanct " 6 percent (made
Posted by Howard Arnoff | 0 Comments
Tuesday, January 26, 2010 5:58 AM

Living in a foreclosed home

... was a raccoon. Imagine our surprise as my clients and I were walking through a foreclosed home for sale in Charleston and spotted a raccoon that apparently made itself at home and was comfortably sleeping in the window seat of a bedroom on the top
Posted by Howard Arnoff | 3 Comments
Monday, January 25, 2010 7:14 AM

Who Dat [America's Team, The New Orleans Saints]

Who Dat! The New Orleans Saints are going to the Super Bowl. The Saints are more than a football team to the residents of New Orleans and the Gulf Coast. They are the Soul of America's City according to Wright Thompson in an excellent article. It's
Posted by Howard Arnoff | 0 Comments
Saturday, January 23, 2010 7:29 AM

Searching for a home or neighborhood in Charleston

Many people who relocate to Charleston begin by searching for the perfect home on the Charleston MLS. Sometimes, you might think you have found the perfect home only to be eventually disappointed with the neighborhood the home is located in. So it's
Posted by Howard Arnoff | 0 Comments
Friday, January 22, 2010 8:15 AM

The future of newspapers [print and online]

The NY Times will begin charging for content next year. Other newspapers may follow their lead but other than the Wall Street Journal which currently does charge for a portion of its content, it's doubtful any will succeed on a subscription basis.
Posted by Howard Arnoff | 1 Comments
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Thursday, January 21, 2010 8:46 AM

Bear turns bull on Charleston housing outlook

I met Brad Rundbaken when we were both at Sandlapper Real Estate Group. He has a background in financial services, was a real estate appraiser and is currently a real estate consultant. Brad was way out front in calling the housing bubble (and credit
Posted by Howard Arnoff | 1 Comments
Wednesday, January 20, 2010 6:23 AM

FHA to tighten mortgage guidelines

As expected, mortgage guidelines for FHA loans will tighten. According to Reuters : "The U.S. Federal Housing Administration said on Tuesday it will raise the minimum down payment required to secure an FHA-backed mortgage for less creditworthy borrowers
Posted by Howard Arnoff | 0 Comments
Tuesday, January 19, 2010 4:09 PM

A winter day in Charleston

... can often be beautiful. We joined the rest of the country last week being a little bit cold (or very cold) depending on where you live but winter in Charleston can be warm and full of sunshine with Carolina blue skies.
Posted by Howard Arnoff | 0 Comments
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Monday, January 18, 2010 2:35 PM

Today's Charleston real estate mantra: I want a good deal

Of course everyone wants a good deal in today's Charleston real estate market. And it's almost become the buyer's mantra. I was with some clients showing a home earlier today and as it happens, another agent was showing the same home just
Posted by Howard Arnoff | 0 Comments
Saturday, January 16, 2010 7:07 AM

Short sales and banks

We all know that short sales must be approved by the lender, not the home seller. And not only is the process long but short sales are not always approved and it is especially difficult when two or more lenders are involved because second lien holders
Posted by Howard Arnoff | 2 Comments
Friday, January 15, 2010 8:03 AM

Charleston forecast as one of 5 markets to fare best in 2010

According to Moody's Economy.com, Charleston is one of five real estate markets expected to fare best in 2010 . “Home prices in Charleston didn’t get out of line with household incomes; also, Boeing is investing in a fairly large manufacturing
Posted by Howard Arnoff | 0 Comments
Wednesday, January 13, 2010 8:08 AM

A story of foreclosure ... and lessons learned

Matt Stigliano, a real estate agent in San Antonio TX, lost his home to foreclosure and shared what happened to him with lessons learned not only for other real estate agents but that everyone can learn from. I've written about and seen a lot of foreclosures
Posted by Howard Arnoff | 1 Comments
Tuesday, January 12, 2010 7:41 AM

Berkeley County is booming!

During the last decade, (it seems kind of funny to write that) Dorchester County including Summerville was one of the 50 fastest growing counties in the country. Because the Dorchester II school district is so highly regarded, Summerville and Dorchester
Posted by Howard Arnoff | 0 Comments
Monday, January 11, 2010 7:50 AM

[Charleston] buyers, sellers and home values

It shouldn't come as much of a surprise that home sellers feel that their home is worth more and that home buyers feel that a home they are considering buying is worth less. So how do you determine the real value of a home anyway and come up with
Posted by Howard Arnoff | 0 Comments
Saturday, January 09, 2010 7:12 AM

Charleston real estate activity on the rise

There are some who say that it's now dumb to buy a home like this Fed economist who says that housing is a lousy investment but that isn't stopping people from searching for Charleston homes for sale. A look at the chart to your left indicates
Posted by Howard Arnoff | 1 Comments
Friday, January 08, 2010 8:04 AM

Days on market and new Charleston MLS numbers

It's that time of year again when sellers and their Charleston real estate agents trade in their old Charleston MLS numbers for a spiffy new one. Last year, Charleston MLS numbers began with 29 and this year, fresh new listings begin with 10. So if
Posted by Howard Arnoff | 0 Comments
Thursday, January 07, 2010 7:06 AM

[Ironic] Foreclosure.com declares bankruptcy

The South Florida Business Journal reports an ironic story . "Even though foreclosure filings and interest in purchasing foreclosed homes is at an all-time high, a Boca Raton based company that runs several prominent foreclosure search Web sites
Posted by Howard Arnoff | 0 Comments
Tuesday, January 05, 2010 4:05 PM

Ups and downs in global real estate

Business Week with a couple of stories about highs and lows, ups and downs in global real estate. Manhattan: prices down. Manhattan apartment prices fell for a third consecutive quarter as Wall Street job losses drained demand and the decline in co-op
Posted by Howard Arnoff | 0 Comments
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Tuesday, January 05, 2010 9:58 AM

Brr! It's cold outside in Charleston

Weather wimp alert. It's cold outside in Charleston. And, Friday appears ominous. Although the graphic shows rain in the forecast, that dreaded white stuff is being talked about and I'm sure the grocery stores started that rumor. It hasn't
Posted by Howard Arnoff | 0 Comments
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Monday, January 04, 2010 8:01 AM

Charleston real estate market report, home prices, January 4, 2010

Sales were up sharply but home prices were down year over year on both a median and average basis but when you look inside the numbers, the price declines were just as much a function of the mix of homes being sold as actual price declines. I don't
Posted by Howard Arnoff | 1 Comments
Sunday, January 03, 2010 8:34 AM

Charleston real estate market report, sales and inventory, Jan 3, 2010

I've reported interim sales numbers for November previously so you probably already know that November was an outstanding month for real estate sales in Charleston. And while figures are never final because I'm constantly updating figures from
Posted by Howard Arnoff | 1 Comments
Friday, January 01, 2010 12:45 PM

Happy New Year [and good riddance to the "aughts"]

On this first day of the new decade, a look back courtesy of the WSJ chronicling a decade of adventures and misadventures in real estate during the boom and bust of the 2000's. Good reading . And looking forward into the New Year, higher mortgage
Posted by Howard Arnoff | 1 Comments