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May 2011 - Posts

Tuesday, May 31, 2011 6:50 AM

More negative news for housing today

The correction in the housing market is expected to be corroborated later today with the release of the S & P Case - Shiller Index confirming new low prices and that much talked about double dip. I've talked about the good and bad of the Case
Posted by Howard Arnoff | 2 Comments
Monday, May 30, 2011 5:15 AM

Memorial Day 2011

Memorial Day is not just the kickoff to summer, a day off to enjoy a day at the beach or swimming pool or a barbecue in the backyard. Memorial Day is a day to honor the men and women who have given their lives for our country. So while you are out enjoying
Posted by Howard Arnoff | 0 Comments
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Saturday, May 28, 2011 6:43 AM

[Are ARM's back] Charleston mortgage report, May 28, 2011

The WSJ has an article indicating that recently out of favor adjustable rate mortgages (ARM) are making a comeback . Rightly or wrongly blamed for the housing bust, ARM's went out of favor when the spread between a 30 year conventional fixed rate
Posted by Howard Arnoff | 0 Comments
Thursday, May 26, 2011 6:51 AM

Spoleto Festival USA 2011, Charleston South Carolina

Spoleto Festival USA is internationally recognized as America's premier performing arts festival and since 1977, Charleston's historic theatres, churches and outdoor spaces are filled with performances in theatre, opera, dance and chamber, symphonic,
Posted by Howard Arnoff | 0 Comments
Wednesday, May 25, 2011 7:46 AM

Buying a home without a real estate agent

... is of course possible and is growing in popularity. It's not terribly surprising for two reasons, first of all, today's Charleston home buyer has more information available than ever before and secondly, real estate agents are not generally
Posted by Howard Arnoff | 0 Comments
Tuesday, May 24, 2011 7:17 AM

Charleston ranks 8th in best mid sized cities for job growth

According to newgeography , Charleston placed 8th in their rankings of best mid sized cities for job growth, up 17 spots from the 2010 rankings. Now it's pretty much a given that jobs translate into good news for housing and that's but one of
Posted by Howard Arnoff | 0 Comments
Monday, May 23, 2011 8:10 AM

Is the housing market improving or not

... probably depends on who you are talking to and where you live. A half glass of water is either half full or half empty depending on your perspective and so goes real estate. While the NY Times reports that the glut of homes in foreclosure held by
Posted by Howard Arnoff | 0 Comments
Sunday, May 22, 2011 5:12 AM

An oversupply of condo inventory in Charleston

(Caution, sarcasm ahead) Now Saturday might have been a bad day to buy any kind of real estate in Charleston or anywhere had the world ended at 5:59PM because there would have been a glut of property available. I suppose we can now look forward to the
Posted by Howard Arnoff | 0 Comments
Friday, May 20, 2011 6:19 AM

Pet Peeve Friday [Phriday]

Just for fun, let's call this pet peeve Friday [Phriday]. I hate when people don't live up to their commitments. A service provider that did work for me has not replied to 3 emails and one phone call regarding a $16 billing error and more importantly,
Posted by Howard Arnoff | 2 Comments
Thursday, May 19, 2011 7:18 AM

Charleston real estate market report, sales, inventory and home prices, April 2011

As expected, monthly home sales were down slightly from last year and more than likely will also be down in May and June as well due to difficult comparisons with last year's incentive driven home buyer tax credit. But the most positive sign for the
Posted by Howard Arnoff | 2 Comments
Wednesday, May 18, 2011 9:44 AM

Charleston mortgage report May 18, 2011, mortgage rates down

More good news for Charleston home buyers and homeowners wanting to refinance as mortgage rates are down and are sitting at the low point for this year. As you can see in the chart of 10 year US Treasuries to your left, the bond market has apparently
Posted by Howard Arnoff | 0 Comments
Tuesday, May 17, 2011 7:33 AM

[Movin' on up] Charleston mid priced homes selling very well

After a lousy year in 2009 (and there is no better word to describe it other than lousy), mid priced homes in Charleston have been selling well over the last year. The move up buyer is back! For the Charleston real estate report each month, I use 3 price
Posted by Howard Arnoff | 1 Comments
Monday, May 16, 2011 6:45 AM

[Supply and demand] Buyers or sellers market

It's generally acknowledged today that we are in a buyers market. There is a lot of inventory for sale in the Charleston real estate market and not enough buyers to absorb that inventory. 6 months is generally considered the tipping point of whether
Posted by Howard Arnoff | 1 Comments
Saturday, May 14, 2011 7:09 AM

Determining value in this Charleston neighborhood, it's not just dollars per square foot

Buyers and sellers in Charleston might like to be analytical when determining the price they buy or sell their home for. Well, maybe not all sellers, as you know, sometimes sellers really don't care what other homes are selling for, after all, it's
Posted by Howard Arnoff | 0 Comments
Friday, May 13, 2011 6:37 AM

Push vs Pull marketing, what do you prefer

There are a lot of very aggressive marketers out there today. And real estate is obviously a highly competitive business, as my friend Jay Thompson has said, "you can't swing a dead cat and not hit an agent". (I do not recommend trying this
Posted by Howard Arnoff | 0 Comments
Thursday, May 12, 2011 6:56 AM

Should you interview several real estate agents when selecting a buyer's agent

Most homeowners who are considering selling their home in Charleston interview several agents to list their home. Many will go with the Realtor who suggests the highest price and / or the lowest commission rate and neither is really the best way to select
Posted by Howard Arnoff | 0 Comments
Tuesday, May 10, 2011 5:54 AM

Summerville mayoral election to replace retiring legend Berlin G Myers

After 10 terms in office, Berlin G Myers will not be on the ballot today for mayor of Summerville. And before I get too far into this post, Mr. Myers checked into Summerville Medical Center after feeling faint in church on Sunday and I want to send prayers
Posted by Howard Arnoff | 0 Comments
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Monday, May 09, 2011 7:09 AM

Wells Fargo Championship showcases South Carolina golfers

Even though the Wells Fargo Championship was held at the Quail Hollow Club in Charlotte North Carolina, golfers from South Carolina made it feel like a hometown event and what an exciting golf tournament it was with Lucas Glover beating Clemson teammate
Posted by Howard Arnoff | 2 Comments
Sunday, May 08, 2011 6:24 AM

Happy Mother's Day 2011

Happy Mother's Day. Don't just buy flowers or take mom to brunch. Make her day really special. Buy MOM a home in Charleston today!
Posted by Howard Arnoff | 0 Comments
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Friday, May 06, 2011 7:42 AM

Charleston mortgage report May 5, mortgage rates at lows for the year

... but, today's just released monthly jobs report should cause rates to rise slightly. Good news on one subject often becomes bad news on another and vice versa. Sovereign debt problems in Europe are good for US Treasuries causing interest rates
Posted by Howard Arnoff | 0 Comments
Thursday, May 05, 2011 6:30 AM

Under contract and sales pending real estate signs abound around Charleston

It seems that everywhere I look, there are lots and lots of under contract and sales pending riders on the homes for sale signs around Charleston. The other day, I was showing homes to clients who are considering relocating to Charleston and we picked
Posted by Howard Arnoff | 0 Comments
Wednesday, May 04, 2011 8:11 AM

HH Hunt Homes at The Ponds Summerville is Hot, Hot, Hot

A new home builder to the Charleston area recently started construction at The Ponds in Summerville. HH Hunt Homes from Virginia recently completed their model and one of my clients absolutely fell in love with it and wrote a contract. They were on a
Posted by Howard Arnoff | 0 Comments
Tuesday, May 03, 2011 6:02 AM

[Lowball Offer] We don't want to offend your sellers but

... we just want to know whether they will let us steal their home. I recently got an email from a Charleston real estate agent regarding one of my listings. They have a buyer who is interested in the neighborhood and wanted to know how motivated my sellers
Posted by Howard Arnoff | 0 Comments
Monday, May 02, 2011 7:17 AM

It seems like a good day to talk about man caves with Osama bin Laden killed

Waking up to the great news that Osama bin Laden was finally found and killed by American forces, it seems like a great day to talk about man caves since it was long rumored that bin Laden was hiding out in a cave in the mountains of Pakistan. The NY
Posted by Howard Arnoff | 0 Comments