April 2009

There are 10 blog entries for April 2009.

117_dolphin_point_dr._330 Listen, I know the market is down and home prices are falling, but this week a house on Cat Island was relisted at a price even I couldn't believe.  117 Dolphin Point Drive hit the Beaufort MLS listed at an unbelievable $399,900.  For those who are not familiar with Cat Island, the Dolphin Point area is extremely nice and generally priced a little higher than other areas of the island.  In three years of watching the MLS, this is the first time I have ever seem a home on Dolphin Point listed under $400,000.

The original listing date for this property was in May of 2008.  The price (get ready to be shocked) $649,000.  From the original price, reduction is 38%.

This past winter, my wife and I took a look at the inside of the home, and it is just

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traffic_gridlock_430 If you read between the lines of Beaufort County Council's decision to lift current zoning restrictions, it seems money actually does do the talking in these here parts.  Eliminating "Rural Residential" zoning was the result of the council's vote on Monday.  Previously, these areas were under the "Rural Residential" zoning which designated one home per 3 acres.  With the ruling, the possible floodgates have been opened for an additional 3227 homes in the Port Royal Island, St. Helena Island and Whale Branch areas.  Breaking it down, it would allow 107 additional homes on Port Royal Island, 2000 on St. Helena Island, and 1,120 in Whale Branch.

If you have read my prior post, you know I'm an advocate of restrictive zoning.  A resident of Charleston SC for

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8000_first_time_home_buyer_tax_credit_325

Today I want to post a video that breaks down some of the details of the Federal $8000 Tax Credit for New Home Buyers.  This housing credit is somewhat complicated because it applies to so many of us.  It may surprise you reading this, but  an amazing 40% of home purchases are made by first timers.  With the real estate market is such a slump, some estimates have first time buyers equaling up to 60% of closings.  A big reason that percentage is now so high is because of a couple factors.  Those factors are:  the Federal $8000 Home Buyer Credit, historically low interest rates, and many foreclosures being gobbled up.  

Even as a Beaufort SC Realtor, I sometimes have a tough time getting through all the legal jargon associated with some of these tax

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59ew7926_800 Deciding they were ready to deal, the owners of 348 Cottage Farm Drive have reduced this amazing house $30,000 last week.  This wonderful home is now priced at $459,000.  I personally thought it would sell at the original listing price but this price reducation is sure to bring buyers in.

I have been in 348 Cotage Farm Dr. a couple times and it's so nice.  I just love the size of the rooms, the layout, huge porches, and a lot of other unique qualities you don't see in other homes.  This is a custom built home and it showes with all the beautiful trim and molding.  As you can probably tell, I love this house.  Hopefull a buyer will feel the same way. 

When you combine location, quality of homes, waterfront access, and flora, the community of Cottage

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portroyalrealestate1_600 Last week it was announced that readers of Budget Travel nominated Port Royal SC one of America's Top 10 Coolest Small Towns.  The winners were announced April 15th on the CBS Early Show.  As most of locals know Port Royal has come along way from years past.  Being recognized for this award is a credit to just how far the area has come. 

I believe one reason Port Royal made the list is because of all the original Mom n' Pop stores.  I often get coffee at the Old Towne Coffee Haus, eat lunch at Moon Doggies, and have dinner at McPherson's Serious Bar-B-Que.  Unlike so many chain restaurants, you can't get that stuff any where else in the world.

The qualifications for the contest were that town has to have a population of less than 10,000 and the small

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cora_bett_thomas_139On April 1st, local real estate agency Town and Country operations were officially in the hands of Corra Bett Thomas Real Estate Company.  Based in Savannah, Hilton Head, and Bluffton, Cora Bett Thomas made a move into the Beaufort South Carolina market last year by opening an office in Town Center.  Looking to fry bigger fish, Thomas acquired one of the areas longest standing agencies in Town and Country.  With the housing market in such a downturn, it is a bold move.

Personally, I'm a little surprised by this buyout.  Mathew McAlhaney and Bill Anderson has recently launched their new company website, which was doing remarkably well.  Running an agency is a huge job and my guess is the offer was too good to pass up.  Cora Bett Thomas has long been know

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mortgage-application_425 Today I was referred to Cher Milner, a mortgage consultant with New South Mortgage here in Beaufort SC.  Not often am impressed so quickly.  Cher struck me with her honesty, forthcoming nature, hard working attitude, and put the customer first mentality.  Another thing that I liked was that she had been with New South for 6 plus years.  In this business, stability is key.

As with any industry, you want to partner up with those who treat your customers as you would treat them.  This is especially true as a real estate agent, because we depend heavily on so many other peripheral professions for a smooth transaction.  My broker at ERA Evergreen, Laura Blencoe told me glowing stories of having Cher service her customers for many years.  It's nice to find

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beaufort_sc_bead_and_breakfast_310This week we are going to feature a downtown Beaufort SC historic landmark, The Two Suns Inn Bed & Breakfast on 1705 Bay St..  If you are looking for a business oportunity or home on the Intercoastal Waterway, in downtown Beaufort, this could be it?  Built in 1920, the Two Sons Inn is located directly on Bay Street overlooking the water.  Location is probably the most important aspect of this property.  Set in the heart of the downtown Beaufort Historic District, you probably cannot find a more premier setting.  The buyer has options, as the he/she can continue to run the bed and breakfast or convert the building to a home.  Here are some of the highlights of this 1705 Bay Street:

  • 3140 Square Foot
  • 5 Bedrooms and 4 full baths
  • Double Parlor
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lowcountry_real_estate_564Now that the first three months of 2009 are in the books, I wanted to take a look back at 2008 and see just how that current 2009 market compares.  Lately I have heard colleagues and those in the news talk about how the housing market is getting back on track.  Some of the numbers I dug up seem to paint a good and bad picture on this year's current market.  Good for buyers and not so hot for sellers.

Let's start with the good news for buyers.  The 2009 average home price so far is down 12% from 2008 and a total of 20% from 2007.  Finally, the Beaufort SC real estate market is falling into a legitimate price range.  For the first time in three years, my wife and I have stopped window shopping on the internet, and are started going in person to see some of

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403_hancock_st._640 For those buyers looking in the Old Point section of downtown Beaufort SC, 403 Hancock Street arrived on the market just this past Sunday listed at $1,295,000.  This home has been was wonderfully restored with many of the original aspects retained.  Yesterday's history and today's luxury are a part of what makes this home so special.  If the owner ever decided to leave home, the Henry C. Chambers waterfront park, Bay St. shopping and restaurants are all within walking distance.  Here are a few of the highlights of 403 Hancock Street:

  • 3165 Square feet
  • 4 Beadrooms & 3 1/2 baths
  • Five fireplaces
  • Walk-in-wine-cellar
  • Original Heart Pine and Maple wood floors
  • Premier Appliences
  • Large workshed
  • Complete grounds Automated irrigation system

The premier

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