Real Estate News

breaking-news.gif Breaking News image by dmsmith1012 Here in the real estate news section of our blog, we cover everything relevant to today's property buyer and seller.  Because real property ownership is the backbone of America's financial system, issues affecting this industry are wide ranging.  Everything from zoning, taxes, interest rates, new community developments, land preservation and various other topics all play a part in the market.

There are currently 30 blog entries related to this category.

Sometimes, seeing is believing. We preach constantly that these are historic times to buy real estate in Beaufort, SC -- Prices have come down substantially the past few years, and interest rates are very low. But, from time to time, we need a few eye-openers as to the kind of authentic opportunities which exist in today's real estate market.

Mossy Oaks, Beaufort SC**On March 20, a waterfront home with a deep-water dock sold in Wright's Point Plantation for $475,000. I ave no doubts this home would have sold in the $1 million range a few years ago. To help put things in perspective for you real estate enthusiasts, consider that a smaller home with zero water-frontage, sold on March 10 in Wright’s Point sold for $416,000. And this non-waterfront home had originally been listed

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229 Green Winged Teal Dr., Beaufort SC, 29907One of the gratifying aspects of selling real estate is helping really nice people buy a perfect new home. It's particularly gratifying when the really nice people get a whale of deal.......and when they are newlyweds!

We were fortunate enough to be able to help just such a couple a week or so ago, as they purchased a super, like-new home in Walling Grove, a terrific neighborhood on Beaufort's Lady's Island. This 2524 square-foot-home, located at 229 Green Winged Teal Dr. in the heart of the neighborhood, is yet another example of the seemingly endless array of incredible real estate opportunities available in today's real estate market.

The home had originally been listed at $450,000 way back in 2009. After two years of chasing the market, the sellers

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10 Anchorage Drive, Beaufort SC, 29902Investors are always looking to buy for pennies on the dollar.  We have been encouraging real estate buyers and investors for more than a year now that there are truly amazing real estate opportunities available in Beaufort's best areas for pennies on the dollar.

Recently, Lowcountry Properties' agent, Keith Strawn sold 10 Anchorage Drive in Beaufort, SC.  This was an opportunity to buy a waterfront homesite, in one of Beaufort's best neighborhoods, for pennies on the dollar. 10 Anchorage Drive overlooks a tidal creek within Islands of Beaufort, with the potential for a dock.

10 Anchorage Drive Purchased just a few short years ago for $280,000. The asking price on this attractive building site was just been reduced to an astounding $99,000. Heck, this

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Once in a while, it's nice to just take a moment, and reflect on some of the incredible opportunities that buyers have been able to take advantage of in our charming Beaufort, SC real estate market. We in the real estate biz have been harping and preaching about "opportunity" for a couple of years now.

1) Take the folks who recently purchased a deep-water homesite, in a darn nice neighborhood, for $230,000, about 53 percent less than the $480,000 the previous owners paid for this deep-water property in 2006. That's opportunity!  This homesite is located on Lady's Island, and will provide years and years of enjoyment to these folks, who hale from the Midwest. They came south to Beaufort, SC, looking to "steal" a piece of waterfront property, and that is

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Liberty Point, Beaufort SCIt's fitting that we take a moment to look back on this past month on Halloween, because it has been a creepy month for Realtors, with a mere 52 homes going under contract so far in October.

Before we go any further, this is not a gloom and doom post. All things considered, there are some encouraging signs to be found in Beaufort's real estate market.

There are several communities that have had real success in the area which ha e had great success selling new homes at the new price point. Liberty Point in Shell Point, which recently broke ground on its new homes, has placed five homes under contract in the past few months, in the $80 to $115 per square foot price point.

Somerset Point on Lady's Island has seen 17 homes go under contract this year, in the $98…
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Mossy Oaks Beaufort SCExtreme Makeover: Home Edition brought a lot of national attention to Beaufort, SC's own Mossy Oaks community, just minutes from Beaufort's historic downtown district. The Extreme Makeover crew, with the help of hundreds of volunteers from the Beaufort area, stormed into the area in early January, and built a brand-new home for a deserving family. Construction was completed in about 96 hours.  The episode was broadcast earlier this year on ABC.

Although this area of Mossy Oaks is home to very modest, single-story residences built mostly in the 1960s, the mammoth, double-porched Extreme Makeover structure would look at home in any of Beaufort's best waterfront neighborhoods, from Newpoint and Coosaw Point, to Habersham, Distant Island, and Polawana Island.  

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411_craven_street_beaufort_sc_29902Since the stunning success of Newpoint, on Lady's Island, in the early 1990s, neo-traditional neighborhoods have been all the rage in Beaufort, SC.

Neo-traditional neighborhoods are planned in the style of coastal communities of the early 20th Century, like Beaufort, SC.

The idea of Newpoint was simple -- Create a neighborhood which looked and felt like the Old Point, Beaufort's incredible, historic and sought after downtown area, but with all the modern conveniences expected by late 20th and early 21st buyers. The Old Point is home to houses which date back decades before the American Revolution.

Newpoint is located just across the Intracoastal Waterway from the Old Point, and has a similar feel to its historic namesake.

After the success of

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This month's numbers are stuck in the shadow of the spring 2010 incentive market. A number of factors hinder a full-scale housing recovery, yet there are positives that suggest improving consumer confidence. Slowing unemployment claims, strong corporate balance sheets and 13 months of private job growth are cause for long-dormant optimism. Let's see if our local glass is half empty or half full.

New Listings in the Beaufort region decreased 32.6 percent from last March to 207 new homes. Pending Sales decreased 15.7 percent to land at 97 contracts written. As a result, inventory levels decreased 2.8 percent from last year to reach 1,720 active listings.

Prices lost some ground - the March Median Sales Price of $162,500 decreased 9.7 percent. Negotiations

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Home AffordabiltyAre you in a position to buy a home? Not sure? Well, you are not alone, if you are unaware of your home purchasing power.

We receive calls each week from folks looking to rent. And, while we are in the business of selling homes, we are always happy to help point potential tenants in the right direction.

But, we are also always sure to ask if the person has ever thought about buying a home. The most common response is uncertainty on the part of the caller. They just don't know if they are in a position to buy a home.

If you are moving to the Beaufort, SC region, and have not given any thought to buying a home, you need to know that the affordability index in Beaufort County is going through the roof, according to information recently released by the

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Going With the Highest Bidder...

I understand why sellers would want to list their home an agent, because that agent happens to be the one who provides the highest recommended list price. After all, who doesn't want to maximize their investments? Going with the "highest bidder" is not sound selling strategy, though.

A year and a half ago, I went on a listing appointment at an older home on Lady's Island, one of Beaufort's great residential areas.

Realtor LogoI will dispense with all the details, and just say I told this gentleman that $229,000 would be an optimistic asking price for his house. I based my recommendation on the competition at the time, and recent sales. Well, he listed with another agent, for $279,000, which was way too high. Predictably, the home

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