Summerville Land and Homes For Sale

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Check out our newest Summerville Home For Sale at 225 Brandywine Drive.

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April 5-7 was the annual Summerville Flowertown Festival featuring live music, food, and vendors selling everything from hi-tech pizza ovens for your backyard or kitchen, to crafts and arts.  Friday started with inclement weather, but the weekend was perfect.

Summerville Land and Homes Flowertown Festival 2013

Summerville Land and Homes Flowertown Festival 2013

It was nice to be able to walk around the historic town and play tourist for an afternoon.  Summerville is rich in history and features some of the most beautiful homes in the area.  Streets like Sumter, Rutherford and West 5th are adorned with some exquisitely preserved homes that rarely come on the market.  I recall only seeing 1 “For Sale” sign for the entire walk.

Summerville Land and Homes

Summerville Land and Homes

It was also a good opportunity for some contractors to get the word out about their services.

There were several home additions, remodeling and new home contractors at the Flowertown Festival 2013.  Photo by Summerville Land and Homes

There were several home additions, remodeling and new home contractors at the Flowertown Festival 2013. Photo by Summerville Land and Homes

One of the more interesting vendors I came across was Total Refractory Management, a local company providing custom refractory manufacturing and service. According to Wikipedia, “refractory materials must be chemically and physically stable at high temperatures”. That makes sense if a homeowner has a ceramic wood-burning oven in the kitchen that is capable of reaching 1000 degrees F.

Hi-tech pizza oven by Total Refractory Management.  Photo by Summerville Land and Homes.

Hi-tech pizza oven by Total Refractory Management. Photo by Summerville Land and Homes.

While they prefer to work with builders during new homes’ design stage, they can work with existing homeowners to design and install incredible brick wood-burning ovens indoors or out.  This option might not be one that your typical home buyer ever thinks of, but I wouldn’t be surprised if it becomes more common in custom homes or in backyard kitchens.

Hi-tech wood-burning oven by Total Refractory Management - great for pizzas.  Photo by Summerville Land and Homes

Hi-tech wood-burning oven by Total Refractory Management – great for pizzas. Photo by Summerville Land and Homes

It was a great festival, with lots to do for young and old alike. Can’t wait until next year’s!

Brought to you by SCLandandHomes.com and the Summerville Land and Homes For Sale Team
(843) 442-7275

225 Brandywine Dr Summerville, SC 29485 Home For Sale

New Listing! 225 Brandywine Drive Summerville, SC 29485 Home For Sale

225 Brandywine Summerville, SC 29485

225 Brandywine Summerville, SC 29485

5 Bedrooms 3.5 Baths 2916 Square Feet Built 1987
$325,000 MLS# 1308609

Click here to go to 225 Brandywine page for more information

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Jim Bobo, Jr., Realtor, BIC, ABR, RSPS, MBA

SC Land and Homes LLC
Call or text (843) 442-7275
www.JimBoboRealEstate.com
Contact us

How To Price Your Home To Sell

How To Price Your Home To Sell

One of the most important things sellers in the Greater Charleston Area do before putting their home on the market is setting a list price.  Price it too low and you give away equity.  Price it too high and it doesn’t sell.  Just how does one figure out how to properly price their home in this unpredictable market?

House with dollar signThe answer depends on the seller’s true motivation.  Do you just want to test the market to see if you can “get your price”?  Or are you truly “motivated to sell”?  This article is written for that motivated group of sellers who are ready to sell.  But for those who are more interested in “getting your price”, you may want to read on, too, because I’ll discuss why overpricing your home can hurt you in the long run.

Important variables concerning home pricing and solutions to sell include the following. This article is too long to post here – please contact us below for the full version.

“My house isn’t selling”.
In my experience, there are 3 main reasons a house listed in MLS isn’t selling.

Understanding “fair market value”.
Fair market value is often called “market value”, “priced right” or “priced to sell”.

Know the comps.
To price your home to sell, you’ll need to know and understand “comps”, or “comparable properties”.

Does an agent’s recommended pricing count?
Whoa – this subject is important.

How quickly will an overpriced house sell?
This answer might not surprise you.

Is it true that overpricing now can lead to a lower selling price in the end?
This answer (and why) may surprise you.

When is buyer interest the greatest?

What principles are used to evaluate property?

Ask yourself these questions when pricing your property…

While inventories of homes for sale in the Charleston, SC region are still low, price gains have only been moderate.  More importantly, gains haven’t been across the board – some neighborhoods are experiencing zero gains or continued soft prices.  It’s extremely important to price your home “to sell” from the beginning and not fall into that trap of “testing the water”.

Please call, text or use the form below to let us know how we can assist you. We never share your personal information with anyone. Our Privacy Policy can be read here.

Jim Bobo, Jr., Realtor, BIC, ABR, RSPS, MBA

SC Land and Homes LLC
PO Box 1182
Johns Island, SC 29457-1182
Call or text (843) 442-7275
Fax (888) 456-6618

2012 Annual Report on the Charleston Trident Housing Market released

2012 Annual Report on the Charleston Trident Housing Market released
Charleston Trident Association of Realtors has released its 2012 Year in Review report on the Charleston, SC  area’s residential housing market. Highlights:
* Home values up and down in 2012, depending on your home’s address.
* Inventory of real estate available for sale continued its decline to less than 6,000 units, which was 44% below that of 2008 and 21% below 2011. In an expanding market, reduced inventory theoretically helps stabilize or increase prices by creating more competition among buyers who are ready to buy.
* If your home was a new listing in 2012, it  had a 54% chance of selling in 2012; inversely, 46% of homes in the MLS in 2012 did not sell.  3 main probable  reasons for weak results: prices perceived as too high by buyers, property condition, and property location.  Buyers want move-in ready homes that are energy rated.  Read the latest report “What Home Buyers Really Want in 2013“.

CTAR 2012 Median Sales Price

CTAR 2012 Median Sales Price

Up or down?
If your home is in  Rural West Ashley – Hollywood, Ravenel, Meggett and Adams Run – your property may  have experienced the largest gain in home values in the area – up 13.5% from 2011.  Rural Berkeley County, Daniel Island, Folly Beach and James Island rounded out the other top 5 hot spots.

However, if you live in Greater North Charleston, Wando/Cainhoy, Upper Mt. Pleasant, St. George/Rural Dorchester County, or on Kiawah or Seabrook Islands, you may have experienced a decline in your home’s value over 2012.

Access the report here.  Remember that this is only an aggregate trend report and does not indicate what your home might be worth on the market today.  To determine a likely sales price range for your home, you should obtain a more detailed analysis of pricing trends in your neighborhood or for your property type  and a custom CMA (Competitive Market Analysis).  It is also advisable to obtain an appraisal of your home.

How is your neighborhood  trending?
SC Land and Homes
produces the CART Report (Charleston Area Real Estate Trends Report) to help clients identify trends relevant to their property, and provides custom CMA’s to help clients price their home appropriately.  We generally do not request seller’s obtain an independently ordered appraisal  except in certain situations but recommend one if a seller has any doubts about their home’s value.  Below is a sample from a recent client report for a Summerville, SC neighborhood.  Remember that this report uses all MLS sales data compiled from multiple party sales, and only shows possible pricing trends – not necessarily values.  Please contact us for a more detailed explanation.

CART Average Selling Price graph example

CART Average Selling Price graph example
2012 Median price of 7 sold units was $280,000
Data obtained from multiple MLS parties and is deemed reliable but not guaranteed

Jim Bobo, Jr., Realtor, BIC, ABR, RSPS, MBA


SC Land and Homes LLC
Call or text (843) 442-7275
www.JimBoboRealEstate.com
Contact us

Charleston, SC January Residential Real Estate Sales Approach 2008 Levels

Charleston, SC January Residential Real Estate Sales Approach 2008 Levels
Charleston Trident Association of Realtors reports that increased market interest and consumer confidence help to fuel strong sales increases and sustainable price growth.

Charleston-area January sales see 5 year high

Charleston-area January sales see 5 year high

634 homes sold at a median price of $181,750 in the Charleston region in January, according to data released by the Charleston Trident Association of REALTORS® (CTAR). These figures represent the highest rate of January sales activity in the region since January 2008, when 648 homes sold. Activity and buyer interest were notably higher during the typically slow first month of the year as many REALTORS® reported a significant increase in calls from prospective buyers.

As sales volume continues to make consistent, sustainable progress, prices remain stable, approaching the $200,000 range, where local REALTORS® and expert economists looking at our region expect them to stay for the short-term future. “As was the case in 2012, we expect to see nominal, but sustainable, growth in prices this year”. “2012 closed out with a 4.4% increase in median price, which is an excellent rate of growth in a recovering market. It’s all about sustainability” said 2013 CTAR President Owen Tyler.
Comparing the beginning of 2012 to 2013, sales volume is up 16% and median price reflects 3% growth thus far in 2013. As the uptick of buyer interest in our market seems to be an enduring trend, inventory may become an issue in some areas. The number of available properties has consistently remained at a lower level than we’ve seen in the past five years, but will likely increase as the spring buying season draws closer. There were 5,520 homes actively for sale in the Charleston Trident Multiple Listing Service (CTMLS) as of January 31, 2013.
During the 2012 Year-In-Review residential market update hosted by CTAR in late January, expert economists Steve Slifer and Joey Von Nessen praised the real estate market activity in our region in 2012, but warned that uncertainty based on what’s going on in the government and Washington DC may have an effect on consumer confidence in 2013.
More detailed information about housing trends in Charleston, Dorchester, Berkeley and Colleton Counties are available from SC Land and Homes.
Please call, text or use the form below to let us know how we can assist you. We never share your personal information with anyone. Our Privacy Policy can be read here.

Jim Bobo, Jr., Realtor, BIC, ABR, RSPS, MBA


SC Land and Homes LLC
PO Box 1182
Johns Island, SC 29457-1182
Call or text (843) 442-7275
Fax (888) 456-6618

Proposed SC H. 3425 up for debate tomorrow; Bill would help create SC homeowner’s opportunity to produce electricity

Proposed SC H. 3425 up for debate tomorrow; Bill would help create SC homeowner’s opportunity to produce electricity

Sometimes going green and utilizing sustainable building practices doesn’t meet with everyone’s approval…

It seems that letting SC homeowners finance the purchase and installation of solar systems would produce a "win" situation for everyone.

It seems that letting SC homeowners finance the purchase and installation of solar systems would produce a “win” situation for everyone.

I received the email below from the Coastal Conservation League this afternoon and believe it is an important property rights issue concerning home ownership.  What happens in the SC General Assembly impacts home ownership.  Please read for yourself and decide if you want to take action through the CCL website:

“Dear Jim,

H. 3425, the Energy System Freedom of Ownership Act, would allow utility customers to save money on electricity by installing solar panels on their homes, businesses, schools and [places of worship] for little or no upfront cost. The bill will be debated by the House Labor, Commerce & Industry Subcommittee tomorrow, Tuesday, February 19. Take action: click here to ask the Subcommittee members to vote in support of this important legislation!
This bill puts the power of the free market to work by enabling an innovative form of financing called solar leasing. By leasing panels, you can install an energy system without having to pay high upfront costs. Leased panels help protect you from rising electricity rates, and once the lease contract expires, the finance company generally transfers ownership of the system to the customer, at which point all of the electricity produced on your roof is free.
Currently, utility customers can use their own money to purchase solar systems and lower their electricity bills, but most customers cannot afford to do so. Opponents of H. 3425 claim that a finance company which gives you access to affordable electricity by leasing you panels should have to meet the regulatory requirements of a traditional utility, but does a third-party investor really qualify as a full blown utility? These finance companies are merely providing the upfront capital for utility customers to install energy systems and generate some of their own electricity. That is why it’s called the Energy System Freedom of Ownership Act. CCL supports this legislation because it prevents current electric utility regulations from being used to unfairly block renewable energy projects for businesses and private residences as well as for non-profits like [places of worship] and schools.

Please lend your voice to this very important effort, click here to take action and ask the six Representatives on this Subcommittee to vote in support of H. 3425 tomorrow!

Your CCL legislative team,
Merrill, Ryan and Hamilton
We Tweet!  The conservation lobby team has created a twitter feed so you can have the most up to date information on what’s happening with environmental issues straight from the lobby floor.  Follow us at http://twitter.com/#!/sccommongroundsFor more information about anything in this e-mail, please contact Merrill McGregor at merrillm@scccl.orgCCL Legislative Team:
Merrill McGregor, 803.771.7102 ext. 26 merrillm@scccl.org
Ryan Black, 803.771.7102 ext. 22 ryanb@scccl.org
Hamilton Davis, 843.725.2061 hamiltond@scccl.org
Donate: Become a Member of the Coastal Conservation League
Join: Join the League and help us continue our work.
Our Network: Facebook / Twitter / YouTube
Events: Events Calendar”

END EMAIL

Please call, text or use the form below to let us know how we can assist you. We never share your personal information with anyone. Our Privacy Policy can be read here.

Jim Bobo, Jr., Realtor, BIC, ABR, RSPS, MBA


SC Land and Homes LLC
PO Box 1182
Johns Island, SC 29457-1182
Call or text (843) 442-7275
Fax (888) 456-6618

Charleston Area Real Estate Trends Report 2012

Charleston Area Real Estate Trends Report 2012.  The “CART Report” provides you customized Charleston Real Estate Market Conditions and Analysis.

The Charleston Region real estate industry saw some major improvements across the board in 2012.  While some areas fared better than others, declining inventory, increased demand and an improving consumer confidence and job market helped push prices higher.
CART REPORT sample 2012 results picture for postJim Bobo Real Estate filters specific data and analyzes multiple variables in our custom CART Reports relevant to your particular needs.  In addition to a property CMA, we focus on important indicators of trends in a given neighborhood, geographical area or a more specific type of property where finding comparable properties may not be immediately available (commercial buildings, deep water or waterfront  homes, and other “special” real estate).

For example, we took a look at a popular neighborhood in the Charleston area with traditionally little turn-over that peaked in 2007; from then on, like everywhere in the region, it was downhill.  This particular variable pictured above is “Average Selling Price Per Square Foot”, a good indicator of price movement trends within residential neighborhoods that are comprised of comparable homes and lots.  In 2007, this neighborhood’s average home sold for $217 per square foot, bottoming in 2011 at $145 per square foot – a 33% decline. However, when we looked at the same neighborhood in 2012, the average selling price per square foot jumped considerably to $167 – a 15% improvement over 2011.  While 2012 prices in this neighborhood were still 23% below 2007 prices, the signs of improvement are encouraging.

Invest In Charleston SC Land and Homes

Whether you are thinking about selling or buying, our CART Report will provide insight into the market that you can’t get anywhere else.  We don’t try to impress you with an overwhelming amount of statistics that, well, aren’t really relevant to your situation.  We simply provide the information that is relevant to your property that you need to see in both table and graph formats that help you make a more informed decision.

Please call, text or use the form below to let us know why you need a CART Report. We never share your personal information with anyone. Our Privacy Policy can be read here.

Jim Bobo, Jr., Realtor, BIC, ABR, RSPS, MBA

SC Land and Homes LLC
PO Box 1182
Johns Island, SC 29457-1182
Call or text (843) 442-7275
Fax (888) 456-6618

Builders Tweak Floor Plans for Growing Segment of Buyers

Builders Tweak Floor Plans for Growing Segment of Buyers

Reprinted from NAR’s Daily Real Estate News | Thursday, January 10, 2013

Will your next custom home be built for “bounce-backs”? Click on the photo to search Charleston, SC communities real estate for sale

Home builders are changing their floor plans to accommodate more people living under one roof. As adult children and aging parents move in, home owners are finding the need for more defined, separate housing corridors within their homes.  For example, home builder Lennar is expanding the offerings of what it calls the “Next Gen” house. Introduced in western states like California, Arizona, and Texas, Lennar is now taking its “Next Gen” floor plan to North Carolina. The single-family home features a second door, separate from the main entrance, that leads to a 500-square-foot suite for a private residence. There’s also a door inside the main house to access the suite.  “We market it as two homes, one payment,” says Trish Hanchette, Lennar’s Raleigh division president.

Home builders also are finding flexible first-floor space is in high demand. The spaces can be used as a mother-in-law suite or changed into a nursery, extra bedroom, or home office.  Some in the housing industry are also calling some flex rooms “bounce back” rooms — so named for adult children who have moved back in with their parents because they’re struggling to make it on their own.

“The number of 22- to 30-year-olds that are still living at home is at a record high right now,” says Hampton Pitts, an executive vice president with Ashton Woods Homes. “So you have that college graduate that’s back at home looking for a job and maybe got their first job but not ready to be in an ownership or rent situation.”

Source: “Builders Target Families with Multiple Generations Under One Roof,” RISMedia (Jan. 8, 2013)

Make sure to search for vacant lots and real estate throughout the Charleston area at Your MLS Account.  Here’s a local architect’s website you may want to visit, Carolina House Plans Inc.  We’re not affiliated – we just think they’ve got some great house plans suitable for Charleston’s lifestyles and charm.

Please call, text or use the form below to let us know  how we can assist you. We never share your personal information with anyone. Our Privacy Policy can be read here.

Jim Bobo, Jr., Realtor, BIC, ABR, RSPS, MBA


SC Land and Homes LLC
PO Box 1182
Johns Island, SC 29457-1182
Call or text (843) 442-7275
Fax (888) 456-6618

Nexton – a new town for South Carolina

Nexton, a new town for South Carolina, is planned for the Summerville-Goose Creek-Moncks Corner area of the Greater Charleston Region.  MeadWestvaco will build out Nexton over a period of 20 years in multiple phases on about 5,000 acres.  The anticipated finished product will yield millions of commercial, office, entertainment & retail square feet, and have upwards of 30,000 residents occupying thousands of new homes.  In essence, it will become a city within a city.  Charleston, Dorchester and Berkeley Counties will all benefit economically from this immense development.

Click here for the Nexton brochure.

Please let us know if you would like more information about Nexton.

Jim Bobo, Jr., Realtor, BIC, ABR, RSPS, MBA

SC Land and Homes LLC
Call or text (843) 442-7275
www.JimBoboRealEstate.com
Contact us

Congress passes measure to avoid the “Fiscal Cliff” while keeping the real estate recovery on track

Congress passes measure to avoid the “Fiscal Cliff” while keeping the real estate recovery on track – good news for the real estate market!

Mortgage interest deduction, mortgage cancellation relief, deduction for mortgage insurance premiums, leasehold improvements, energy efficiency tax credits, “Pease Limitations” relief, capital gains and the estate tax were in most ways all protected in the measure, with some changes that the NAR expects will affect only 1% of the population in the higher income brackets.  This is good news for residential, land and commercial real estate in the Charleston, SC region.

Click here to read the National Association of Realtor’s brief on how the measure will impact the housing market in 2013.

Jim Bobo, Jr., Realtor, BIC, ABR, RSPS, MBA

SC Land and Homes LLC
Call or text (843) 442-7275
www.JimBoboRealEstate.com
Contact us