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September 2010 - Posts

Thursday, September 30, 2010 7:15 AM

It's difficult for traditional Charleston home sellers to compete

... with foreclosures, short sales and new construction. These days in the Charleston real estate market, if a homeowner wants to list their home for sale in Charleston, there is a lot of competition and not just from the fact that there are thousands
Posted by Howard Arnoff | 0 Comments
Wednesday, September 29, 2010 1:30 PM

Why you should use a real estate agent when buying new construction

A real life story from earlier today offers you one more reason that you shouldn't just run into a model home at a new home community in Charleston and write a contract to buy a new home with the sales counselor without having a real estate agent
Posted by Howard Arnoff | 0 Comments
Tuesday, September 28, 2010 6:05 AM

[coming soon] Charleston property tax bills

It's that time of year again and a reminder that your Charleston property tax bills will be coming soon to a mailbox near you. And if your home is your primary residence, it's important to make sure you are being taxed at the correct ratio. Even
Posted by Howard Arnoff | 2 Comments
Monday, September 27, 2010 8:25 AM

A preapproval letter or proof of funds tells a seller you are a qualified buyer

When you write an offer for a home, a seller is going to want to be sure that you can obtain financing and be able to purchase the home. After all, when a buyer and seller agree to terms and the contract is ratified, the status of the home in the Charleston
Posted by Howard Arnoff | 0 Comments
Saturday, September 25, 2010 6:35 AM

Bungling banks and foreclosure mistakes

Those wild and crazy bankers never seem to learn a lesson. First they made loans that should never have been made and now in their rush to foreclose on those loans gone bad, they aren't crossing their t's and dotting their i's and mistakes
Posted by Howard Arnoff | 3 Comments
Friday, September 24, 2010 6:17 AM

What does this new coffee maker have to do with Charleston real estate

Take note of the color of this new coffee maker we just got from Capresso . It's silver and black and generally, I favor white appliances. Our old Capresso just died after providing us with 9 years of great coffee and I hoped that they were still
Posted by Howard Arnoff | 0 Comments
Wednesday, September 22, 2010 8:18 AM

The first day of Fall in Charleston, or do you prefer Autumn

... will actually be very short since it begins at 11:09 PM this evening and it won't feel very different from the last day of summer. The seasons of Charleston are interesting. Summer should hang around until at least sometime in October and while
Posted by Howard Arnoff | 1 Comments
Tuesday, September 21, 2010 6:25 AM

[Good news] Lower home warranty prices due to HUD ruling benefits Charleston home buyers and sellers

Recently, HUD's new interpretive rule clarified that real estate brokers and agents could not be compensated by home warranty companies for marketing services to buyers or sellers. Most Charleston home sellers provide a home warranty to buyers providing
Posted by Howard Arnoff | 0 Comments
Monday, September 20, 2010 6:51 AM

Real estate is local and sometimes Charleston real estate business customs are local too

I read a couple of threads on Facebook this weekend having to do with local real estate business customs. One questioned why Charleston real estate buyers would use an out of town lender which of course is never a good idea if you want to have a smooth
Posted by Howard Arnoff | 2 Comments
Saturday, September 18, 2010 6:09 AM

10 reasons to buy a home

With David Streitfeld at the NY Times making a career out of bashing the housing market and Time Magazine suggesting the idea of home ownership may no longer make economic sense, at least Brett Arends at the WSJ has some positive things to say about real
Posted by Howard Arnoff | 0 Comments
Friday, September 17, 2010 7:03 AM

A Charleston home buyer thinks some homes are overpriced

You're going to love this story. The names have been kept anonymous to protect the innocent (and guilty). Anyway, "Qualified Buyer" (name provided) was searching the Charleston MLS and used the request more info tab to rant about how overpriced
Posted by Howard Arnoff | 2 Comments
Thursday, September 16, 2010 7:14 AM

It's the same story with two very different headlines and perspectives

... so what's up with that. RealtyTrac released their foreclosure report overnight and the reporting from Bloomberg and CNN was vastly different. Bloomberg continued to report in the most negative manner continuing coverage from the other day with
Posted by Howard Arnoff | 0 Comments
Wednesday, September 15, 2010 11:21 AM

When will the [National] housing market turn around

A mostly negative but interesting article from Bloomberg with lots of experts weighing in on when the housing market will turn around. Too much inventory, job losses and a lousy economy and the prospects for many more foreclosures are weighing on the
Posted by Howard Arnoff | 0 Comments
Tuesday, September 14, 2010 7:41 AM

Charleston foreclosure report sales and analysis, September 14, 2010

Everyone loves a deal and many Charleston home buyers are doing just that by buying a foreclosure. Let's look at what has happened year to date with lender owned homes in the Charleston real estate market. Since January 1st, 503 homes that are identified
Posted by Howard Arnoff | 0 Comments
Monday, September 13, 2010 9:12 AM

Charleston mortgage rates start to rise

... so is the party over. After falling all summer to record low rates, mortgage rates have risen slightly for two consecutive weeks due to stronger than expected economic data. I'm personally not sure the data was all that strong but because expectations
Posted by Howard Arnoff | 0 Comments
Saturday, September 11, 2010 7:02 AM

More fun in the Charleston MLS [find this house]

Of course there is a serious side to the Charleston MLS where real estate agents and buyers (through an IDX feed) search for homes for sale in Charleston. But searching for a home isn't always as simple as it might sound. Take this example from the
Posted by Howard Arnoff | 0 Comments
Friday, September 10, 2010 6:09 AM

Popcorn (blown) ceilings are so out of style

... so why do we still see them around. Back in the day, builders skimped a little on construction costs by spraying an acoustic material more commonly known as a popcorn (or blown) ceiling. And we've come to expect that if you are looking at homes
Posted by Howard Arnoff | 0 Comments
Thursday, September 09, 2010 7:50 AM

[Update] Charleston new home communities

There are lots of exciting changes for buyers looking at living in one of the many new home communities in the Charleston real estate market. While some new home builders have been well established in the Charleston market for many years, several other
Posted by Howard Arnoff | 0 Comments
Tuesday, September 07, 2010 6:50 AM

It's the economy, stupid or jobs, jobs, jobs

There is a cure for the housing market. It's jobs, jobs, jobs and not the artificial stimuli or government programs designed to prop up the ailing housing market. And that's probably why the Charleston real estate market is doing better than much
Posted by Howard Arnoff | 0 Comments
Monday, September 06, 2010 7:04 AM

Labor Day 2010, labor, Labor and a day at the beach

The always insightful Seth Godin on labor and Labor. Whatever happened to labor? "Not Labor with a capital L, as in organized labor unions. I mean labor as in skilled workers solving interesting problems. I mean craftspeople who use their hands,
Posted by Howard Arnoff | 0 Comments
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Saturday, September 04, 2010 7:33 AM

Charleston mortgage report, mortgage rates, new FHA mortgage insurance premiums

There is some confusion over FHA mortgage changes effective October 4, 2010 due to bill H.R. 5981 signed into law August 11th. The changes include a reduction in the upfront mortgage insurance premium also known as the upfront PMI which is rolled into
Posted by Howard Arnoff | 2 Comments
Friday, September 03, 2010 7:53 AM

Crescent Homes now building in White Gables, Summerville

Crescent Homes, a local Charleston builder known for building fine homes to Earthcraft standards is now building in White Gables in Summerville. White Gables has been one of the most popular neighborhoods in Summerville and features a traditional neighborhood
Posted by Howard Arnoff | 2 Comments
Wednesday, September 01, 2010 5:21 AM

Homes in Charleston are still selling

... despite some media reports you may have heard that say housing is dead. My client and I were looking at homes for sale yesterday and one was perfect so I called the listing agent to be sure that it was still available before sending a contract only
Posted by Howard Arnoff | 1 Comments