December 2009

There are 5 blog entries for December 2009.

According to SmartMoney.com, the "Top 5" areas in the country that should have home prices performing the best for 2010 are:

  • Tacoma, Washington (increase of 2.44%)
  • Memphis, Tennessee (up 0.99%)
  • Pittsburgh (up 0.89%)
  • Charleston, South Carolina (up 0.18%)
  • Seattle (decline 0.50%)

Of course, one of the reasons being cited is because of Boeing building their 787 aircraft plant in Charleston, but also because the number of homes on the market in Charleston is declining, and our prices have remained in sync with household income over the past year.

 

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I can feel the Holiday spirit!  Yes, that's right, the City of Charleston and Republic Parking are offering free two-hour parking vouchers for all of their downtown parking garage locations.  This free parking is still good from November 28th, to December 31st.

For all of you locals or visitors in the area, this is a great time of year to see Charleston.  The free 2 hour parking passes are perfect for a dinner downtown, or shopping for all of your friends and family.  You can print the coupon directly from your computer HERE.  This has been updated for 2012.

Here are the participating garages:

    S.C. Aquarium Garage,
    Camden Exchange Garage,
    Concord & Cumberland streets,
    Wentworth at St. Philip streets,
    County Garage at King & Queen

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Updates on the Charleston Real Estate Market

Here is some updated information on the extended Home Buyers Tax Credit, as well as some statistics on how the Charleston real estate market performed as a whole for the end of 2009.  Don't forget, the First Time Home Buyers Tax Credit has been extended until April 30th, 2010.

Play the video to take a look at what the Tax Credit did for home sales in October.  Pretty staggering, really.  Signed purchase agreements were up 67.8% in October from a year ago.


 

Video provided by the Charleston Trident Association of Realtors.

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Happy Holidays from BuyingCharlestonRealEstate.com!It's hard to believe there's just one page left on the wall calendar - but what a full page it is! As grateful as we are year round for all that we have, the holiday season makes us especially conscious of the value of home and family and reminds us of the importance of what we do for others. It's a wonderful time to share with family, friends, and neighbors, and a wonderful time to set something aside for those not so fortunate.

You'll probably see a lot of your neighbors at some of our dazzling December events:

  • Experience Charleston's history and holiday spirit with the Charleston Tree lighting ceremony in Marion Square on December 5th from 4:30 to 6:00pm.
  • Before you pack in another holiday meal, burn off a few calories at the Reindeer Run, a festival
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Is the Charleston Market getting better?The Charleston real estate market has been in a slump for the past four years...When will this trend end?

Well, there is not going to be a clear-cut, definitive turnaround if you're looking for one.  Real estate, which has traditionally been a solid investment, has been jittery (at best), right along with every other market.  There isn't going to be a solid, radical change in direction in the Charleston real estate market in the immediate future.  There are just too many foreclosures and short sales coming up on the market, which are still keeping home values down.  While home values nearly doubled from 2000 to 2006, the average has fallen somewhere around 30% in most Charleston areas.

But are things getting better?

The Charleston real estate market

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