As
Mark talks about a downturn in the home furniture business, I consider the statistical reports of new home inventory levels. (My life really is more interesting than it sounds.)
"New home sales plunged in August," says the Commerce Department in a New York
Times report. And prices dropped on average 7.5%, "the steepest monthly price drop since December 1970."
What's it all mean? Obviously, motivated sellers are nervous, but we're coming up with some innovative ideas to help them. The best market I've seen in a long time for investment buyers is upon us, and more and more of my longtime clients are showing some interest.
Statistics tell the story, I think. We may have reached the bottom. It's a great time for bargains.
Labels: buyers, sellers, values
# posted by
Betty Poore @ 7:08 AM
As the days start getting a little shorter now, some mornings you can begin to see, sometimes even feel a bit of Fall coming here to the Lowcountry. We live in such a beautiful place, especially on mornings like this one.
Labels: Charleston Coast, Fall
# posted by
Betty Poore @ 8:26 AM
The morning's
Post and Courier carries this front page headline: Sullivan's Is. among priciest ZIP codes.
Seems
Forbes reports this kind of thing, and 29482 is the 70th on the "magazine's annual ranking of U.S. housing prices." Need proof? "In mid-August," says the
newspaper's article, "a sales record was set when New York businessman Todd Boehly paid $4.72 million for a 4,500 square-foot, six-bedroom Atlantic Avenue house on an oceanfront lot."
The high end of the market is still doing pretty well here, though the smart investor may have a few more options than usual.
By the way, the Isle of Palms and Charleston were ranked by Forbes at 199th and 327th, respectively.
Labels: Charleston Coast, home prices, Sullivan's Island
# posted by
Betty Poore @ 8:00 AM
Greetings!
Well, summer may just be behind us. Mark and I have shut down the AC today, opened up the windows and have a strong breeze blowing through the house. It is wonderful and hopefully here to stay.
However, the stong northeast wind has not been kind to our beach. As many of you know, the north end of the island has been experiencing erosion that has affected some of the condominimum neighborhoods at Wild Dunes and the 18th fairway of the Links course. There has been a lot of discussion and information...and as it happens hearing something 3rd or 4th hand, some misinformation. With that in mind, I am including
this link to the best information I have seen recently. Please give me a call if you have any questions after you read through it.
Labels: beach, Charleston, coast, erosion, Isle of Palms
# posted by
Betty Poore @ 5:15 PM
