Charleston Real Estate Blog

A Ray of Sunshine for you Today: The Optimist Week in Review

Charleston, SC, Real Estate by Thomas Cunningham (Buyers' Choice Realty) — Thu, 05 Feb 2009 14:46:15 -0600

I felt that this "Review" needed to get as much attention as possible. For all your Coastal Carolina Real Estate needs!

Via Mirela Monte, Your Myrtle Beach Connection:

Chuck Willman posted some interesting observations about the Banks' Modus Operandi with regards to their REO's. This is an interesting blog to read and one we should all add our own observations to: "The First Ten Days" and other Bank Owned Property Rules of Thumb

Just how do you handle confrontation? Rebecca Cole posted an intriguing article about it:         How Do You Handle Confrontation?

Lara O'Keefe penned an endearing tribute to her mom, who is currently helping raise a beautiful grandchild:   Growing Like a Weed!

Jim Valentine discusses a type loan well suited for today's foreclosed properties. Don't miss this unique tool for bringing these deals to fruition: Can We Buy A Bank-Owned Property In Disrepair With A New Loan?

Sheldon Neal -- ThatBritishAgent - Makes some wonderful points in his aptly named post: Why am I getting so many LISTING APPOINTMENTS ? -- I thought Sellers were too afraid right now ??

If you only read a single blog this week, this one should be it. Tony Toto gave us a complete recipe for success with distressed properties. Could it really be that easy? Short Sale Using the Option Contract

Chuck Willman penned a very touching post about focus, determination and loyalty, all neatly packaged as a loving tribute to a remarkable woman: his grandmother.   What Grandma Taught Me About The Superbowl

Just in case you missed them, Castellum Realty compiled all the fun Superbowl commercials in: Pitssburg Steelers win Superbowl XLIII - Budweiser Frogs,parrots and your favorite 2009 Commercials!

Last, but not least, yours truly spent hours researching the social networking scene and posted: Face it Tweety: Plaxo Linkedin MySpace!

The Optimist Group was formed as a repudiation of today's "Gloom and Doom". It is the place where the glass is always at least half full, a safe zone for those who realize that Life is what you make of it. From "how to" guides to improving our Real Estate practice and our lives, to jokes, funny stories, and loving tributes, if it makes you feel good to read it, or if it helps your business or your life, the Optimist Group is the place to post it or read it.

Life is short. Live it Well!                                          Join The Optimist Group!

Mirela Monte, Your Myrtle Beach Real Estate Connection

Real Estate: Why Buy Now?

Charleston, SC, Real Estate by Thomas Cunningham (Buyers' Choice Realty) — Thu, 15 Jan 2009 11:58:32 -0600

Via Mirela Monte, Your Myrtle Beach Connection:

•·        Historically low Interest Rates

•·        Huge Inventory of Available Properties to choose from

•·        Motivated Sellers

•·        Large inventory of foreclosure properties to choose from; extraordinary opportunities never before seen

•·        Unique new programs for first time buyers

•·        An array of new options for buyers, from owner financing to lease to own opportunities

Mirela Monte, Your Myrtle Beach Real Estate Connection                          Proud Optimist!

Ever watched the TV show "House Hunters"? Would you like to be featured on the Show?!!!

Charleston, SC, Real Estate by Thomas Cunningham (Buyers' Choice Realty) — Sat, 10 Jan 2009 12:04:08 -0600

Good Day,

My name is Thomas Cunningham. I am a Realtor that currently covers the South Carolina Coastal areas: from North Myrtle Beach all the way down to Charleston! Due to my profile on ActiveRain.com and my personal Website; the producers of the Reality Show "House Hunters" have recently approached me to do a Shoot in the Simi-Charleston area.

After speaking to the producer for some length, she informed me that they could shoot anywhere from about Murrells Inlet to about 30 minutes to an Hour outside of Charleston.

Have you ever watched the show? Did you ever think to yourself, "it would be cool if I was one of those people, on the Show?"? Well, now is your chance! If you are an Active Buyer and would like to be feature on "House Hunters" please give me a call and let's discuss the details.

I want this to be foremost in your thoughts before you consider this opportunity; my profession is a Real Estate Agent! My sole desire and upmost responsibility is to help people make the best decisions possible when Buying or Selling Real Estate! If you contact me, helping you make the smartest purchase is my First Priority!! The show would come second!!

This is an Opportunity that has been presented to me and I am both honored and greatly appreciative!!

Thomas Cunningham

Buyers' Choice Realty

Cell (843) 814-1078

Email homesbythomas@gmail.com

Luxury Horse Farm, Temple, New Hampshire

Charleston, SC, Real Estate by Thomas Cunningham (Buyers' Choice Realty) — Thu, 27 Nov 2008 11:26:34 -0600

Via Fred Light - Real Estate Video Tours for MA, NH & ME:

INFO: http://www.PopeSays.com

Finally, a down to earth luxury horse property! Built by Elite Barn Structures, LLC this gem of a horse property comes with 8 stalls, a shower area, 24/7 surveillance cameras beamed to the master bedroom, a separate hay barn, a 4-car garage with office overhead boasting Brazilian cherry floors, a garden house and 2 outdoor sheds. Oh did I mention the gracious caretakers apartment within the barn itself? There is more. The home is located in sunny Temple NH and has absolute privacy. Temple is the home of Americas oldest marching band is is full of horse afficianados. PLEASE do yourself or anyone you know and love a favor by directing them to the video of this property on REALTOR.com or at www.popesays.com. The owner would be able to build you an indoor riding arena in an already cleared area for exactly that. This home has 5 separate paddocks too and right next to the barn is one of them with the footing already down. Plenty of thought and good taste has gone into the design and construction of this entire property which includes a luxurious cedar shaked home overlooking a brook and a pond with hottub on the deck, a screened in porch and so much more. Items like stamped concrete floors, a Travertine slab shower, mahogany, pine, black marble counters, custom made shelves...it ALL comes together seamlessly in this fine property that while luxurious, is also VERY down to earth! Close to other horse properties and near Peterborough NH.

The Goverment's Bailout Bill a Wash!

Charleston, SC, Real Estate by Thomas Cunningham (Buyers' Choice Realty) — Mon, 29 Sep 2008 21:39:53 -0500

I'm not sure why, but I can't seem to get anyone to leave just one comment on this blog I just wrote a few hours ago. What am I doing worng here Guys??

Via Thomas Cunningham:

Today in the Wall Street Journal the headline read,"Bailout Bill Fails in House Vote
Amid Defections in Both Parties"Wow, I'm a bit surprised but quite relived. I had serious doubts about whether this Bill would really help the people that the Government claims it would.

Strangely enough I was reading another Article in WSJ " Rescue Includes Steps to Help Borrowers Keep Homes" and felt compelled to write to the author, "RUTH SIMON"

I would like to share this Letter with all here in ActiveRain and ask all you to chime in and give me your views and opinions:

Good Day Ruth Simon,

                I just read your Article and enjoyed it immensely!

I was curious about a few things though and I'm in hopes that you could shed some light on them! So far from what I have been reading in the news(mostly for your Paper " WSJ") is that the Gov. is trying desperately to fix a problem that has grown far too big to begin with! Everything seems to be focused on how they can help current Homeowners(AKA) Taxpayers with their Mortgage issues so that they don't fall into a Foreclosure status. Being a Real Estate Agent in South Carolina, I, on a first-hand basis am seeing foreclosure begin to increase at an alarming rate . We as a company, have been involving ourselves more and more in Foreclosure transactions as well as Short Sales. We receive information monthly from our local County about properties that are coming to full foreclosure in order to be bid on at the County steps by anyone(mostly the Banks). The numbers I have seen since April 08 have steadily increased! In April there were 104 properties foreclosed on, in just one month those numbers jumped to 194 , that's an 87% increase within a mere 30 days! The numbers continued to fluctuate over the next three months holding at and around 190. Just recently, we have received the list of properties that will be foreclose on October 6th and that number has increased now to 224, giving us a 115% increase in foreclosed properties since April 08.

                Now, considering that our Gov. is apparently working very hard to stem the very concerns that I'm seeing here on the frontline, I hope that they can come to some conclusion sooner than later as I feel that things will most certainly get far worse before they start to get better.

                The other concern that has been rattling around in my head is, has the Gov. even begin to consider how to help the mass number of people that have already had their homes foreclosed on??? These Taxpayers are, first off, now Homeless and secondly have had their Credit dramatically scared for up to Ten Years.

As a whole, since 2003 our economy bolstered due to a consistently increasing Housing Market. Here in Myrtle beach we saw properties reach an apex between 2005 and 2006, with Oceanfront properties leading the way in price increases. All of a sudden, everybody is talking about investing in Real Estate. Flipping properties becomes the new National past-time. Networks like The Discovery Channel, Lifetime and Bravo start coming out with "Real Estate Reality Shows". Companies like "Lowes" and "Home Depot" see record sales as ‘Joe Taxpayer' rushes out to buy home improvement products and materials in order to cash-in on their newly acquired Real Estate investment. So, based on the huge shift we see happening in the Housing Market, everybody begins to rush in and take advantage of all this Money ‘Joe Taxpayer' is willing to spend. Builders & Developers start gobbling up Raw Land like it's going out of style so they can build houses and Communities in large numbers in order to feed the demand. During this process Lenders realize that they too can "Bank-in" on the rush as well and such begins the fledgling ‘Predator-Lending' practices that I believe have gotten us the debacle we in today!

                From what I can make out so far on this proposed Bill, is ‘Joe Taxpayer' really the one that will be bailed out or will it simply be the large Banks and Lenders that come out clean?

I would love to hear your thoughts and views on the topics I mentioned above.

Lakeside, James Island SC

Charleston, SC, Real Estate by Thomas Cunningham (Buyers' Choice Realty) — Thu, 07 Aug 2008 15:29:23 -0500

Lakeside, James Island SC

Tucked away within a verdant oasis, yet convenient to everything that James Island has to offer, Lakeside is a beautiful Townhome community located on James Island between Folly Rd and Maybank Hwy. Lakeside is just around the corner from the Intercoastal Waterway, five minutes from Downtown Charleston and 15 minutes from Folly Beach.

Lakeside provides an idyllic setting for its 76 Townhomes with Two and Three bedroom floor plans. Pristine and verdant, quiet and quaint, Lakeside is located just off Folly Road on James Island, SC. This Townhome community provides the best of both worlds: concealed but surprisingly close to all that Charleston has to offer. Within walking distance you can find several Restaurants, Grocery Stores and Dry Cleaners. Five minutes and just over the James Island Connector Bridge lies Downtown Charleston, awaiting you with all its glory. Upscale shopping with names like Pottery Barn, J Crew, Be Be, Abercrombie & Finch, Saks Fifth Avenue, Bob Ellis, RTW, Urban Outfitter, Moo Roo, Ben Silver just to name a few; Two of the top Hospitals, Roper Hospital as well as MUSC ( Medical University of South Carolina ); Two major Colleges, The College of Charleston and The Citadel and some of the best Restaurants Charleston has to offer: High Cotton, SNOBS, Oak Steakhouse, FIG, Grill 225,Magnolia's and Cypress are just the tip of the iceberg.

Lush settings and a sense of peace are just some of the many qualities Lakeside offers existing or soon to be Homeowners. Whether you're a potential First-Time Buyer or someone looking for a great investment, Lakeside has what you are looking for. Across the street in the newly converted Cross Creek Village, Roper Hospital is in the process of building a new Mixed-use building complex where Phase I consist of ground floor retail shops and medical offices on the upper floors. Phases II & III of the development will implement more focus on upscale retail, smaller shops and a new slant on up to 200 Residential units as well as a community park environment to tie it all in.

Quite simply, Lakeside has the potential to be one of the best investment opportunities in all James Island! Immensely close to so many different Charleston amenities and smack in the middle of a major redevelopment project, how can you go wrong? Please visit my website and feel free to search all the surrounding areas for whatever your Real Estate needs are: www.HomesByThomas.net

Charleston Real Estate Blog Thomas Cunningham

Lakeside, Charleston SC

Charleston, SC, Real Estate by Thomas Cunningham (Buyers' Choice Realty) — Fri, 18 Jul 2008 16:12:11 -0500

Lakeside, Charleston SC

Tucked away within a verdant oasis, yet convenient to everything that Charleston has to offer, Lakeside is a beautiful Townhome community located on James Island between Folly Rd and Maybank Hwy. Lakeside is just around the corner from the Intercoastal Waterway, five minutes from Downtown Charleston and 15 minutes from Folly Beach.

Lakeside provides an idyllic setting for its 76 Townhomes with Two and Three bedroom floor plans. Pristine and verdant, quiet and quaint, Lakeside is located just off Folly Road on James Island, SC. This Townhome community provides the best of both worlds: concealed but surprisingly close to all that Charleston has to offer. Within walking distance you can find several Restaurants, Grocery Stores and Dry Cleaners. Five minutes and just over the James Island Connector Bridge lies Downtown Charleston, awaiting you with all its glory. Upscale shopping with names like Pottery Barn, J Crew, Be Be, Abercrombie & Finch, Saks Fifth Avenue, Bob Ellis, RTW, Urban Outfitter, Moo Roo, Ben Silver just to name a few; Two of the top Hospitals, Roper Hospital as well as MUSC ( Medical University of South Carolina ); Two major Colleges, The College of Charleston and The Citadel and some of the best Restaurants Charleston has to offer: High Cotton, SNOBS, Oak Steakhouse, FIG, Grill 225,Magnolia's and Cypress are just the tip of the iceberg.

Lush settings and a sense of peace are just some of the many qualities Lakeside offers existing or soon to be Homeowners. Whether you're a potential First-Time Buyer or someone looking for a great investment, Lakeside has what you are looking for. Across the street in the newly converted Cross Creek Village, Roper Hospital is in the process of building a new Mixed-use building complex where Phase I consist of ground floor retail shops and medical offices on the upper floors. Phases II & III of the development will implement more focus on upscale retail, smaller shops and a new slant on up to 200 Residential units as well as a community park environment to tie it all in.
Quite simply, Lakeside has the potential to be one of the best investment opportunities in all James Island! Immensely close to so many different Charleston amenities and smack in the middle of a major redevelopment project, how can you go wrong? Please visit my website and feel free to search all the surrounding areas for whatever your Real Estate needs are: www.HomesByThomas.net

Charleston Real Estate Blog Thomas Cunningham

An Open House on Wadmalaw Island, SC

Charleston, SC, Real Estate by Thomas Cunningham (Buyers' Choice Realty) — Wed, 14 May 2008 17:56:03 -0500

1766 Little Smith Rd, Wadmalaw Island SC

Have you ever wanted a rural island getaway? Maybe you were just searching for that perfect piece of land tucked away from everything, yet surprisingly close to all that you need?

If your looking in the Charleston Area, make your way to James Island. Get on Maybank Hwy and head towards Johns Island. Continue down Maybank Hwy and pass through Main Rd. A few ways down the road you will soon come to a fork in the road, stay bearing left and then make an immediate left turn. This will bring you directly to that place you have been searching for.

Sitting on three wonderful acres you will find this little gem of a property. A beautiful two year old house providing four bedrooms and three baths with just under 2000 SqFt of living space at your disposal. Nicely appointed, with hardwood floors throughout most of the house, this home beckons for a new owner to appreciate what country island living is all about.

An attached two car garage as well as an additional detached, three car garage with a guest house above give you all the space you need for whatever toys you may already posses or soon to, for that matter.

Visit my website to see more www.homesbythomas.net

An Open House on Wadmalaw Island, SC

Charleston, SC, Real Estate by Thomas Cunningham (Buyers' Choice Realty) — Sat, 03 May 2008 14:59:25 -0500

An Open House on Wadmalaw Island, SC

1766 Little Smith Rd, Wadmalaw Island SC

Have you ever wanted a rural island getaway? Maybe you're just searching for that nice piece of land tucked away from everything, yet surprisingly close to all that you need? After making your way down Maybank Hwy and passing through Main Rd you will soon come to a fork in the road, bearing left, your immediate left turn will bring you directly to that place.

Sitting on three wonderful acres you will find the little gem of a property. This two year old house provides four bedrooms and three baths with just under 2000 SqFt of living space at your disposal. Nicely appointed, with hardwood floors throughout most of the house, this home beckons for a new owner to appreciate country island living.

An attached two car garage as well as an additional detached, three car garage with a guest house above give you all the space you need for whatever toys you may already posses or soon to, for that matter.

The front patio deck give you a great place to relax watch the world past on by

Does the Law of Attraction work for you??

Charleston, SC, Real Estate by Thomas Cunningham (Buyers' Choice Realty) — Fri, 11 Apr 2008 16:18:54 -0500

Good day to all,

I have come upon this book called "Law of Attraction, The Science of Attracting More of What you Want and Less of What you Don't" By Michael J. Losier. I wanted to ask this of all that work extremely hard in this business!

Have you Heard, Read or are currently implementing the ideas presented in this book???

Since the first time I downloaded this book from iTunes and began listening to it, I can't stop!!! Next I found myself looking to buy the Print version and (of course) I DID!! I have begun to think that I am now either addicted or possibly infected to this amazing book! Am I all alone in this feeling or are there others out there inflicted with this same aliment??

Please share with me some of your feelings, ideas and experiences with this way of thinking! I have to admit, I have been implementing some of this ideas and systems and to my amazement, THEY WORK!! Almost in a wonderful, creepy kind of way have things begun to happen ever since I started thinking and acting in the ways suggested by this inspiring book. My favorite so far has been the simple concept of how powerful our words are and the way our mind reacts to them. The idea of focusing your attention on sentences and phrases containing the words Don't, Not and No and understanding that those phrases attract negative energy or attention to the ideas contained in those phrases. Michael Losier explains that if someone was to tell you to Not or Don't think about a particular topic or subject, that automatically your subconscious and conscious mind would filter out the those words of Not and Don't and adverts attention and energy toward the one thing you're trying not too!

Let me know, I await to hear your responses and comments!!

Mar Vista Grande Resort

Charleston, SC, Real Estate by Thomas Cunningham (Buyers' Choice Realty) — Tue, 11 Mar 2008 19:08:47 -0500

Mar Vista Grande
605 S Ocean Boulevard
(By Sixth Avenue South)

A new jewel by the sea, Mar Vista Grande stands alone as being one of the premier Oceanfront complexes which consist of three and four bedroom condominiums only! This magnificent building has attributes galore. A mere six blocks South of Main St on Ocean Drive, directly Oceanfront, sits this beautiful development.15 floors total, consisting of 160 units total; 100 of these units are direct oceanfront while the other 60 of them adjourns the sides of the complex giving gorgeous ocean views. The first four floors are reserved for parking only providing the luxury of being covered from the elements. A blessing you will soon learn to appreciate when you get caught in some of the sudden Thunderstorms that tend to pop up during the summer months here in Myrtle Beach, SC.
The Fifth floor is where it all begins. Being the first floor of condo units it also houses some of the many amenities provide at Mar Vista. Here you will find the Health Club, the Business Center as well as the Main Lobby / Registration. There is also a beautiful open-air patio just outside from the registration lobby.

Now, looking at the photo above which shows the fifth floor layout, you will notice that the condominiums are laid out along the edge of the building. Beginning with the far left side of the building, focus on the unit towards the front of the building ( far left ) This is unit 1; now begin counting each unit moving in a clockwise rotation until you come around to the far right side, forward unit; this would be unit 16. The pattern set here will be that each unit has a set floor plan and its mirror image will be on the opposite side of the building. As you look at the Fifth floor plan, you can see what I'm talking about.

The picture above will show you what the four bedroom floor plans look like. These units are consistently numbers 1 and 16 of every floor and don about 1,625 heated Sq. Ft with a 255 Sq. Ft Balcony.

Here we have the layout of the Three Bedroom units which comprise of unit numbers 2 & 15 of each floor. They maintain about 1.517 Hearted Sq Ft with a 260 Sq Ft Balcony. Now units numbers 3 & 14 of each floor will have a similar floor plans as this one above but smaller in square footage; about 1,447 Sq Ft with a 225 Sq Ft Balcony.

A Human Question

Charleston, SC, Real Estate by Thomas Cunningham (Buyers' Choice Realty) — Tue, 12 Feb 2008 23:52:50 -0600

The human condition; what exactly makes us human? Is it our thoughts, our feelings or maybe better stated: our actions!

Something I have been struggling with is the full understanding of why we continue to abuse both ourselves and all things that surrounds us; is this human nature?

Have things gotten too far gone? Do we still have the power within us to change that which is inside all of us as well as all that surrounds us?

What can I ( you ) really do to change our world? Corporations rule, Governments rule, Elders rule! What can I ( young and individual ) do to change that which is massive and old?

I came across this Picture while doing a seach on Google Images and stumbled across this youg girls Blog, I really enjoyed it maybe you will too. Check it out

JoAnne's BLOG

Where are all the Buyers at???

Charleston, SC, Real Estate by Thomas Cunningham (Buyers' Choice Realty) — Fri, 18 Jan 2008 13:32:36 -0600

( They should be out looking at properties and sitting down to make offers )

Demand for mortgages surged last week, hitting its highest level in nearly four years as interest rates fell, the Mortgage Bankers Association reported today.

Mortgage application volume reached 906.4, an increase of 28.4 percent on a seasonally adjusted basis, up from 706 one week earlier. On an unadjusted basis, the index increased 64.8 percent compared with the previous week, which was shortened by the New Year holiday and was up 39 percent compared with the same week a year ago.

The refinance share of mortgage activity increased to 62.7 percent of total applications, up from 57.7 percent the previous week.

Adjustable-rate mortgages were only 9.2 percent of total applications.

Meanwhile, mortgage rates slipped during the week. They were:

30-year fixed-rate mortgages decreased to 5.62 percent from 5.73 percent.
15-year fixed-rate mortgages decreased to 5.07 percent from 5.21 percent.
1-year ARMs decreased to 5.77 percent from 6.04 percent

Source: Mortgage Bankers Association (01/16/08)

A Lazy Sunday , continued........

Charleston, SC, Real Estate by Thomas Cunningham (Buyers' Choice Realty) — Mon, 14 Jan 2008 17:07:47 -0600

Continued from previous post.

I continue down the Battery, right alongside the water. At time I slip across both of the One Way streets that make up Murray Blvd. in order to get a better view of a particular house that has caught my eye or has a for sale sign in front of it. As I made my way up to the Fort Sumter House, a woman was walking her dogs. Not one, but Three beautiful (black & white) Springer Spaniels bouncing along with their master in tow. Being a dog lover, I had to strike up a conversation. Beth was her name, she had kind eyes. The type of eyes you expect to see in a person who truly loves animals. I asked about the dogs and if my memory severs me right, all but one were "rescued" Springer's. Dogs that were either abandoned or just in need of a good home. They were so cute, three different ages, one old, one middle aged and a youngster. Man, I tell you what; I was extremely tempted to take the young Springer home with me that evening. So, full of energy and affection. I had such a wonderful conversation with Beth. She was sharing with me how much Charleston had changed over the years, especially since Hugo hit. She told me that she could remember, before Hugo, that you could be out there on the Battery walking along the water and not a single car would have passed by for what seemed like forever. Just for comparisons, at least half a dozen cars happen to pass by us as we stood there and talked.

I can't express how pleasing it is to live in a city where people are so friendly and open, where you can simply strike up a conversation with a complete stranger and before it's all over, you just might have made a new friend. God I love it here! Well Beth and I continued on for while longer and before I knew it the sky had become dark and the street lights glowed so warm and inviting. We broke off our chat and got back to where ever we were heading before. As I made to the tip of the Battery where Battery Park curls around and helps connect Murray Ave with East Bay Street, I remember how much I enjoy this spot at night. Not to take away from its beauty during the day, but at night with the hue of the Street Lights resplendent throughout the park and along the water way it makes for a whole different atmosphere. You just have to experience for yourself some time, it doesn't matter what time of the year, you will get the gist of what I'm trying to say here!

Your Charleston Agent

Thomas Cunnigham

(843) 814-1078

Prudential Carolina Real Estate

Charleston, South Carolina

The Charms of Living in Charleston ( A Lazy Sunday )

Charleston, SC, Real Estate by Thomas Cunningham (Buyers' Choice Realty) — Sun, 13 Jan 2008 19:01:08 -0600

It's slightly overcast, a touch of chill in the air, blue sky and sunshine struggling to break it's way through the grey blanket that lingers overhead. It all adds to persona that makes up Charleston really. A place that is known for it's humid, hazy days; it's hot, muggy evenings that give no relief to that heat of the day. It's Sunday and I am still slightly recovering from a cold I had caught earlier in the week. I haven't felt myself all week long and have been cooped up in the house for several days now. A lazy Sunday, as all Sundays should be if you ask me! I slept in today and relaxed in front of the TV till this afternoon. I guess being stuck inside most of the week had finally caught up with me because I had a massive urge to get outside; to just be in the open air; to simply smell the wonderful smells that are unique to Charleston.

Close to five in the evening now; I have gathered myself together and decided that Downtown Charleston is the place for me this day. I make my way over the James Island Connector, get off onto Lockwood Blvd. and follow it until I come upon Colonial Lakes. Easy to find a parking place today, especially this time as well; yet there are a surprising number of people out this evening. I guess I wasn't the only person with the idea of a walk this evening? Walking up Ashley Ave.; making my way towards the Battery now. There is no better way to truly appreciate the Fall sky of Charleston unless you see it gliding over the Charleston Harbor as it into the Ashley River. Absolutely beautiful; a vision that both inspires and awakens the soul. I love walking along the Harbor, gazing at the magnificent houses that align themselves along the water; Their quite majestic really, all the different types of architectural designs that have found their way here along this waterway. I catch myself staring while I walk, almost tripping over my own feet because I'm lost in the beauty of it all.

to be continued

2007 James Island Statistics ( Sales & Inventory History )

Charleston, SC, Real Estate by Thomas Cunningham (Buyers' Choice Realty) — Thu, 03 Jan 2008 20:18:21 -0600

MLS Statistics Results
Sales and Inventory History
Thursday, January 03, 2008

Month	Year	Monthly Sales	Avg ListPrice	Avg Sale Price	% Diff Sell/list	Avg DOM	Curr Inventory	Months Inventory
January	2007	40	$438,090	$426,033	97.25%	102	292	7.3
February	2007	45	$334,557	$325,208	97.21%	81	310	6.89
March	2007	61	$329,134	$313,868	95.36%	75	359	5.89
April	2007	54	$400,578	$385,334	96.19%	113	361	6.69
May	2007	56	$347,957	$334,084	96.01%	91	361	6.45
June	2007	50	$339,900	$328,930	96.77%	104	365	7.3
July	2007	48	$345,062	$332,702	96.42%	90	364	7.58
August	2007	47	$329,159	$316,334	96.10%	97	363	7.72
September	2007	28	$405,068	$390,203	96.33%	125	376	13.43
October	2007	33	$315,171	$302,717	96.05%	106	371	11.24
November	2007	22	$303,556	$287,910	94.85%	116	358	16.27
December	2007	30	$375,308	$351,061	93.54%	103	339	11.3
Total	514	$355,295	$341,199	96.03%	100.3	352	9.01
Total	0	0%	N/A	N/A	N/A
Total	2007-2008	514	$177,648	$170,599	96.03%	50	176	4.5

So, What does it all mean??

Well, to break it down simply; as the year progressed Single Family Homes being listed for sale on the Charleston Trident MLS slowly increased. As the inventory continued to increase, so did the days those llistings stayed on the market. ( meaning homes did not sell ) You can also see that the number of homes sold per month decreased throughtout the year while the actual months those homes stayed on inventory steadly increased.

To put it in a nutshell, sellers were not willing to market their listings' prices accordingly! Some blame can be brought upon the backs of Real Estate agents who are not willing or capable to strongly advise their "seller" clients that a proper price correction is completely necessary in order to sell the property. The other part of the blame falls solely on the Sellers themselves as they have refused to accept the fact that the market was shifting towards a Buyers Market and prices needed to adjust appropriately. This sort of "denial" caused property prices to stay elevated all the while property values started to eroded underneath them. Before long, you start to see a somewhat "panic" begin with some sellers as they have pushed themselves into a corner where they are only left with the option of making a huge price cut in order to get out of the situation that waiting too long has put them in to begin with!

DOES THIS HELP MAKE ME A WELL-ROUNDED AGENT??

Charleston, SC, Real Estate by Thomas Cunningham (Buyers' Choice Realty) — Tue, 18 Dec 2007 18:48:26 -0600

So, with hopes of more people having the chance to see this Post. I implore more of my fellow comrades to take the time to read this post and voice your opinions.

I was curious, in this tumultuous market laden with negative press is it a positive move for someone like myself, to take up a position as a Mortgage Banker and use the opportunity to learn all the in's and out's of the financial side of Real Estate?

I'm quite excited by the idea. I have always been extremely curious about how things work on the lending side of this Industry. So, just curious what my fellow professionals might think of this idea! Are there any of you out there that have pursued this line of experience? If so, what are some tips you can share with me; Good-Bad and the ugly??

What do you some of you think the perspective would be from the consumer side of an agent that is currently working as both a Real Estate Agent as well as a Mortgage lender. Now I hope we all know that via RESPA, I can not work my own deals(either way) It's one or the other, most certainly not both!!

Now when I worked in the Food & Beverage Industry, I started out in the kitchen working as a Line Cook and working my way up the ranks in the Back of the house. I then wanted to know what it was like on the other side so I started working as a Waiter and put some time in as a Bartender as well. Eventually I worked my up to a Food & Beverage Manager position and had just about covered the whole gamet of Food & Bev aside from owning my own Restaurant. Doing all of that made me an extremely well-rounded employee and enabled me to better interact with ALL fellow employees no matter what their positions was as well as interacting with customer!

So, with all that said, I was thinking that this would be a smart move based on the same concept I used in my previous career! WHAT DO YOU THINK??

DOES THIS MAKE ME A WELL-ROUNDED AGENT??

Charleston, SC, Real Estate by Thomas Cunningham (Buyers' Choice Realty) — Tue, 13 Nov 2007 16:36:36 -0600

So, with hopes of more people having the chance to see this Post. I implore more of my fellow comrades to take the time to read this post and voice your opinions.

So, with all that said, I was thinking that this would be a smart move based on the same concept I used in my previous career! WHAT DO YOU THINK??

BITING THE HAND THAT FEEDS US?? YOU TELL ME!!

Charleston, SC, Real Estate by Thomas Cunningham (Buyers' Choice Realty) — Thu, 01 Nov 2007 09:03:07 -0500

Well, my last post didn't get quite the response I had hoped it would so I thought I might skin it down a bit and give you guys just basics.

Now, seeing that "Approx. 67% of our sales-especially in condos---are to the non perm. Resident who are assessed at 6% versus 4% for the perm res; All of this leads to a pretty good deal for the permanent resident (taxed at 4%) but not so good for the commercial, second home, or rental investor (taxed at 6%)"

I'm assuming (which I very much dislike to do) that the above statistics are based on Horry County and not State wide sales. I pulled this information from the public Tax Forum that took place October 18, 2007. I have the complete minutes of this forum on my previous post "If anyone is interested!!".

School millage only comes off 4% owner occupied permanent residence. Not commercial or second homes 6%.

Example:

•A. Pre 2007 Owner Occupied---4%--$200,000 house -- Assessed at $200,000 x 4%=$8,000 x .1760 = $1408 (.1760 is 46.3 county millage plus 129.7 school millage). With no 1% sales tax!

The millage rate for 2008 will be approx. 115.3 mills for school operating and 47.3 mills for the county or .1626 compared to the .1760 for 2007.

Now -Sales price $200,000 x 4%=$8,000 x .0463=$370.40 ( No school millage)- savings of 1037.60 Plus the 1% sales tax

•B. Commercial/second home 6% Pre 2007-Assessed at $200,000 x 6% =$12,000 x .1760=$2,112 With no sales 1% tax

Sold to new investor-(Assuming property was worth $200,000 in 2004 and was now worth $400,000). Sales price $400,000 x 6%=24,000 x .1760=$4,224 Plus the 1% sales tax

Huge disparity of taxes being paid on a like unit by an owner occupied unit (4%) not selling the property, and a non owner occupied (6%) property that was sold and is now at sales price.

Example from above:

Owner Occupied---4% owner doesn't move. Now pays 1% sales tax. Assessed 2004 at $200,000 -at 3% per year house would have been assessed at $218,545 in 2007.

Under new law taxes for perm res. would be: $218,545 x 4% = $8,742 x .0463 (County millage only)=$405 plus 1% sales tax

New Investor Occupied-6%. Same unit sold to investor in 2007 for $400,000.

Under new law taxes for investor would be: $400,000 x 6% = $24,000 x .1760 (County plus school millage)=$4,224 Plus 1% sales tax

Difference of $4,224 minus $405 or $3,819 to the investor - a 1,043% increase

School millage is staying on non owner occupied (6%) commercial & second homes---most of these people have no children in the schools---they are not perm. residents and they, and their tenants, are paying the 1% sales tax while the are in Myrtle Beach..

So, I pose these questions:

Is this, a realistic change to our State taxes?

How does this formula of property taxation compare to others throughout the country?

Any insight anyone would like to share would be greatly appreciated

P.S.

I just recently loss a potential sale of a Condo due to these new tax changes. My clients stated that there would be no Tax advantages for them unless they put a substantial down payment or just purchased for cash outright. Now, most of us know that purchasing a property for cash is not a common practice!

The new Tax changes for 2008 in South Carolina

Charleston, SC, Real Estate by Thomas Cunningham (Buyers' Choice Realty) — Wed, 31 Oct 2007 12:20:12 -0500

Ok..

To all my fellow Real Estate associates, no matter where your markets is, please take the time to read over this and give me some REAL feedback. IF anyone can put a positive spin on this or give me some true comparables from your Market area, I would greatly appreciate it! I look forward to all your responses!!

October 18, 2007

PROPERTY TAX FORUM

Moderator: Tom Maeser

(Also in Attendance were CCAR Legislative Affairs Director Steven Neeves

and SCAR Representative Nick Kremydas)

(Legislators in attendance were Rep. Allan Clemmons, Rep. Tracy R. Edge

Rep. Nelson Hardwick and Rep. Thad T. Viers)

Tom Maeser:

• Welcome and Introductions

Nick Kremydas:

• Gave a brief overview of the Property Tax Reform Bill that was passed last year.

• The Issue of Point of Sale: Is it really a good thing to have homes brought up to

their full market value for taxation/assessment at the time of sale?

Tom Maeser:

• Provided the audience with the following information on the Property Tax:

2008 Property Tax changes

H. 4449 (Code of Laws-1 sales tax) & H.4450 (Constitution amendment-how tax is

collected)

We just experienced "the perfect storm"----
1. Rapid appreciation---Area was undervalued up to 2004-between 2004 & 2005 the

country discovered Myrtle Beach and demand exceeded supply---prices increased

dramatically-we had rapid appreciation and by 2006 investors found it hard to cash flow

properties.

2. Dramatic increase in insurance rates-200% to 1200% in both wind and hail and

flood---insurance companies were leaving the area and canceling policies-adding to

cash flow problems of the investor.

3.Sub prime fiasco-105% loans, no docs. Required, approving bad credit risks-all led

to recent problem with adj. rates increasing and home owners not being able to afford the

payments-leading to foreclosures and new home owners are walking away from closing

on new homes because they can get fairly new re sales for much less than their original

down payment on the new house.

4.All of this led to recent over supply with lowering demand---buyers waiting to buy

until prices go down---we now have a 15 month supply in single family and a 24 month

supply in condos.

Approx. 67% of our sales-especially in condos---are to the non perm. resident who are

assessed at 6% versus 4% for the perm res.

All of this leads to a pretty good deal for the permanent resident (taxed at 4%) but not so

good for the commercial, second home, or rental investor (taxed at 6%).

ATI - Assessable Transfer of Interest-The transfer of an existing real property that

subjects the real property to appraisal.

Effective tax year 2007 -it will affect tax bills starting Nov. 2007

15% cap is on valuation-when they are going through their 5 year valuation process.

3% per year for 5 years.

Affects:
New construction---***Assessment position has changed from what was discussed at
forum---now assessors office is saying:

If land and house are sold as a package-they will be taxed at fair market value..

If lot is sold and the owner puts a house on it later, it will be assessed at a re-assessment

rate which is based on an appraisal model that is established every five years when reassessment

takes place. The model stays in place for the five year period,

School millage only comes off 4% owner occupied permanent residence. Not
commercial or second homes 6%.
Example:
A. Owner Occupied---4%--$200,000 house
Pre 2007 -- Assessed at $200,000 x 4%=$8,000 x .1760 = $1408 (.1760 is 46.3 county
millage plus 129.7 school millage). The millage rate for 2008 will be approx. 115.3
mills for school operating and 47.3 mills for the county or .1626 compared to the
.1760 for 2007.
With no 1% sales tax
Now -Sales price $200,000 x 4%=$8,000 x .0463=$370.40 ( No school millage)-
savings of 1037.60
Plus the 1% sales tax
B. Commercial/second home 6%
Pre 2007-Assessed at $200,000 x 6% =$12,000 x .1760=$2,112
With no sales 1% tax
Sold to new investor-(Assuming property was worth $200,000 in 2004 and was now
worth $400,000). Sales price $400,000 x 6%=24,000 x .1760=$4,224
Plus the 1% sales tax
Possible reason to review legislation---
1. Windfall tax dollars to the county from the dollars generated from going from

assessed value to sales price---It is being estimated that approx. 30,000 properties

will impacted in 2008, or approx. $5,056,200,000 of volume in Horry County.

The estimate is that this could mean an additional $5,000,000 to as high as

$17,000,000 to the county depending on market and types of property sold.

2. Huge disparity of taxes being paid on a like unit by an owner occupied unit
(4%) not selling the property, and a non owner occupied (6%) property that
was sold and is now at sales price.
Example from above:
Owner Occupied---4% owner doesn't move. Now pays 1% sales tax.

Assessed 2004 at $200,000 -at 3% per year house would have been assessed at $218,545

in 2007.

Under new law taxes for perm res. would be:
$218,545 x 4% = $8,742 x .0463 (County millage only)=$405
plus 1% sales tax
New Investor Occupied-6%.

Same unit sold to investor in 2007 for $400,000.

Under new law taxes for investor would be:

$400,000 x 6% = $24,000 x .1760 (County plus school millage)=$4,224
Plus 1% sales tax
Difference of $4,224 minus $405 or $3,819 to the investor - a 1,043% increase
3. School millage is staying on non owner occupied (6%) commercial & second
homes---most of these people have no children in the schools---they are not
perm. residents and they, and their tenants, are paying the 1% sales tax
while the are in Myrtle Beach..

Latest discussion seems to point to the removal of the ATI which would limit assessment

increases to 3% per year with a max. of 15%.

Rep. Allan Clemmons:

• Wanted to discuss "the politics of it all".

• Discussed the homeowner led revolt on taxes with a goal to protect the

homeowner from 100% increases in taxes from year to year.

• Explained that in the House of Representatives they would have taken off all

school taxes including capital debt with a 2 penny referendum, and then the state

would have to pay for the needs of education. The Senate, however, refused to

negotiate on the full package and only went with half. He would like to revisit this

issue.

• Explained what happened between last year's tax bill and this year's. Both the

school board and the County Council raised taxes on us before the tax relief ever

kicked in! Taxes are less on homes, but are still high because of the county and

the school board.

• Rep. Clemmons currently has a state economist looking at the taxes on residential

and investment property in all states versus South Carolina. Here are the early

numbers Florida and North Carolina, two states that compete with us in

investment dollars: Using a $100,000.00 benchmark, taxes on a $100,000.00

home are $2,200 in South Carolina but are $1,800.00 in Florida and $8,800 in

North Carolina (school taxes are also counted in the North Carolina figure).

• Explained that we are experiencing sticker shock. If we are losing contracts with

clients because of taxes, where are people taking their money? This is why he

wanted a comparison with other states to take to the State House.

• Tax relief bills that have already been passed are difficult to revisit or reopen, but

if the public can demonstrate that there is a problem as well as a solution, we may

be able to revisit this.

Rep. Tracy R. Edge:

• Gave the audience his e-mail address so that they may give him the specifics on

lost real estate transactions due to the Property Tax Reform

(te@scstatehouse.net).

• Rep. Edge was the Vice-Chair of the House Study Committee that produced the

House version of this bill. There were some anticipated consequences, but they

did not anticipate how severe they would be.

• Explained the #1 problem: He has retired neighbors who live down the street from

him who had a $1,000.00 tax bill that rose to $2,000.00 and then to $4,000.00 due

to assessments. They live on pensions. If nothing is done and their taxes rise to

$8,000.00, what will they do? People are being taxed out of their existing homes.

• He hopes that they can revisit wiping away all school taxes by way of a 1 penny

increase.

• He has also heard complaints from out of state homeowners. Why do they pay

school taxes without any children in school? Our state decided that public

education is everyone's responsibility.

• Rep. Edge also added that their delegation met with the school board a year ago

about the referendum and 1 penny being added. Without the tax increase, the

school board got $14 million in increased revenue from construction.

• Even with this increased revenue due to new property, the County Council still

wanted to raise taxes.

• Over a 10 year period the school district saw an increase in spending of 157%, but

with the new revenue from construction, why raise taxes?

• Under the penny sales tax, we are better off than under the first 5 pennies because

we are a donor county, so we get a higher percentage back from a penny than

from the first five pennies.

• There is one more problem: The Assessor's Office and how they assess property.

• He has an ocean front property that is split in two and the two parts are taxed

separately, but one is more than the other. There is no rhyme or reason.

• Asked the Assessor's Office to attend a meeting in public with him, but they

declined.

Rep. Thad T. Viers:

• Gave the audience a handout that he had used at a conference in Boston.

• There have been issues with homeowners who feel as though they are renting

from the government!

• There is also the issue of school millage in poorer rural areas like Dillon. A mill is

$200,000.00 there.

• In Columbia, legislators see how a bill looks on paper but now they are seeing the

effects.

• The local school board here is out of control with raising taxes.

• After this bill passed there was a loophole found that protects schools with

millage. The loophole is that if schools raise taxes, they can get a little more back.

• The tax raised in our county was 5.5 mills. The schools have raised taxes 8 mills

this year and may raise them another 8 mills next year.

• Has suggested that school taxes be raised every two years instead.

• The school board has a reserve fund that they must keep. There is over $40

million in this fund now!

Rep. Nelson Hardwick:

• He did vote for this bill.

• Explained that most taxes are not fair.

• Is an engineer and studied physics. Explained that Newton had a law that stated

that you cannot move one thing without moving something else.

• Mentioned a sales tax grab out of Horry County. We pay in a $1.00 and we get

back forty cents.

• We were the last delegation as a whole to buy into this.

• We are the biggest tax generator per capita in the state. We raise 12% of the taxes

in the state.

• What's fair about paying 6% assessment on a second home? It amounts to

highway robbery.

• But wants to remind the audience: "When you ask us to change something, maybe

you don't want us to."

• This will be hard to fix. We need to get the facts and go about changing this very

carefully. One of two things will happen: We can make it better, or we can make

it worse.

• The bill is open to interpretation. It is a mess, but he will do everything he can to

fix it.

Rep. Allan Clemmons:

• Wanted to bring to the audience's attention a bill filed last year that would have

let seniors transfer the tax bill on their current home to a replacement home.

• Does not think that they will be able to reopen the penny sales tax.

• Wants to determine the windfall that the County and School Board get from the

Point of Sale Assessment. Then he can show the government that this was an

unintended consequence of the bill.

Nick Kremydas:

• Keep in mind that all that has been discussed is not enough. Horry County

Council is talking about more impact fees/making impact fees unaccountable.

• Prior to last year's session there were seven or eight forums on taxation.

• Next February, SCAR will be having its annual Capital Conference. Mr.

Kremydas encouraged everyone to attend and voice their concerns.

Rep. Thad T. Viers:

• School districts are exempt from the Home Rule Legislation of the 1970's.

• Pointed out that the Tax Assessor needs to be more consumer-friendly and

suggested making the position of Tax Assessor an elected one.

(The Forum was then opened up for questions from the audience. The audience was told

to go to the website www.schouse.org/reports for more information on this legislation.)

An Addition to: "Wetlands, an issue that concerns us all"

Charleston, SC, Real Estate by Thomas Cunningham (Buyers' Choice Realty) — Wed, 24 Oct 2007 16:07:19 -0500

Dear Brandon Causey,

You have hit on a topic that should have raised a lot more attention. I'm disappointed that you didn't more comments or interest in the subject!

Now with that said, I would like to take the chance to add to your previous post, if I may? I just recently came from an Educational course working towards my ALC accreditation called, Land 101. Let me tell you this, I HIGHLY recommend any Realtor that works within the Coastal Carolinas to take this course. You will be amazed at how much you will learn! Our instructor was Edmond '"Ned" Massie, an amazing man with a plethora of knowledge who shared so much of that knowledge and experiences with all of us in his class. I am completely grateful for that opportunity!

Anyway, back to the reason I posted this Blog to begin with!! LOL Brandon, either back me up on this or by all means, correct me as well! In reference to Wetland delineation, the is something called ( Non-tidal wetlands )! It pertains to any property throughout the United States and dictates that any standing water on a piece of property that goes undisturbed for two consecutive weeks out of a year could and can be classified as Non-Tidal Wetlands. Now from my understanding of the whole process, the land has to have two out three classifications : i.e.

I will have to continue this Blog later. I apologize in advance!

What defines us as a Realtor, really???

Charleston, SC, Real Estate by Thomas Cunningham (Buyers' Choice Realty) — Sat, 13 Oct 2007 14:19:41 -0500

What is it that truly defines what a Realtor is?? First, don't misunderstand my question here. We all know what it takes to become a Realtor: ....education, State testing and a license then agreement and enrollment with NAR.

But, I want to know if there is a certain perception that either describes or defines Who and What a Realtor is! Does a Realtor have to dress a certain way? Does a Realtor have to act a certain way? Does a Realtor have to drive a certain car?

Now with those above questions asked, let's take it to two different perspectives!

One: from the Consumers point of view!

Second: from our fellow professional peers!

Is there a stigma attached to the title "Realtor"? Do both the consumer and our fellow Peers stereotype how a agent"Realtor" is suppose to act and look?? I want to hear from everyone on this because I feel it to be a very important issue. Can you as a true individual have the distinction as a Realtor yet not conform to the standard image attached to that title and still be very successful??

Letter from the Broker in Charge

Charleston, SC, Real Estate by Thomas Cunningham (Buyers' Choice Realty) — Tue, 02 Oct 2007 16:35:50 -0500

Real Estate Agents in La-La Land...

As agents, we can't create the market, but if we are smart, if we are good agents, we can understand the market and service our clients well by telling them the truth. The truth is: we have over 22,000 active listings in the Myrtle Beach Market. Our third quarter statistics are dismal at best: only 9% of available condos have sold in the past quarter, only 18% of the homes and 5% of the lots available have sold in our area during the past three months. July, August and September are typically red hot months for sales in this Mecca of vacation homes and investment properties. These disheartening figures may signal a more severe trend yet...

What favors are we doing our sellers by telling them what they want to hear? What good does it do to price these listings at 2005 prices? 2005 is gone! 2007 is here, and if you are not smart, 2008 will find you with the same listings you've carried for the past two years. Tell your sellers the truth! Educate them! Stop trying to stroke their egos. They still won't like you if you don't get their properties sold!

Go ahead! Tell them the truth! Lower the prices or risk losing them even more money. 2008 prices will be lower yet. Why wait for the big plummet? Save your Sellers from bigger losses. Price your listings correctly!

I will talk more about my theory on pricing specific properties in future blogs. For now, just grasp the idea and run with it! Your career is in the balance, but most importantly your Sellers' welfare is at stake. Reduce, or Lose!

Mirela Monte, GRI, BIC, SC & NC

Buyers' Choice Realty

843-280-7283

843-251-2378

Blog @ http://www.myrtlebeachhomes.us/

e-mail: BuyersChoice@sc.rr.com