Living and Working in Charleston SC

I”ve always report the real numbers here at allthingscharleston and my message all along has been, “maybe this is a good time to buy; maybe it’s not.  It depends on your situation.”  I’m less optimistic than my fellow real estate agents and besides, any message that says, “Now is a great time to buy.” is bound to be perceived as self-serving anyway.  What do you expect the real estate association to say?  “The market is crap and if you’re smart, you’d wait it out at least another six months?”  In fact, that probably is the best advice for most of you; however, if you’re moving to Charleston or are ready to move UP in price, this can be a good time.  Also, there is a lot of good news about Charleston on the natoinal scene.  It really is a great place to live depending on what you’re into.  If you want amusement parks and a world class nightlife club scene, Charleston probably isn’t your place.  But if you like good food, fun and friendliness, Charleston is awesome.  The weather is great if you know how to take care of yourself in the heat.  (like stay inside if you’re from Minnesota) 

If you’re interested in learning more about Charleston, this is a great link, particularly if you are comparing cities.

http://www.pressomatic.com/ctar/upload/Charleston_Real_Estate_GoodNewsAboutCharlestonMarket.pdf

Let me know your thoughts.

There’s a new leading indicator in the MLS stats that is an equalizer.  It’s the average price per square foot.  It was tricky trying to base home prices based on the average or median price because, what if most buyers are spending their bugdet and getting more home for their dollar?  In May, the average price per square foot was $128 vs $159 May last year, and $130 in April.

You can qualify for 30% toward materials up to $1,500 for roofing, siding, heat pumps, air conditioning and so on.  http://www.energystar.gov/index.cfm?c=products.pr_tax_credits#c3.  It just takes a little research, an estimate and the right forms and you’re all set.  It’s best to consult with your tax professional before making any final purchase decisions.  http://www.irs.gov/pub/irs-pdf/f5695.pdf is the link to the form you will need.  There you are.  You have the two references you need so go ahead and call your contractor.  Oh, yes there is a catch.  You’ll have to wait until tax time next year before your credit materializes.  I wouldn’t wait since you never know how long we’re going to keep on funding programs out of any empty bucket.  Hope this helps folks.

March unit sales were 33% off of last year.  Inventory levels and days on market are still ridiculously high and unchanging in any significant way.

For you Charlestonians, there was a hale storm around March 1, 2009.  This storm did some damage to our roof, which we would not have known about it, had it not been for Progressive Roofing.  We were sceptical when we received the card in the mail, but then they followed up by knocking on our door.  They had all the right answers to all of my wife’s questions.  It all sounded too good to be true of course, but they assured us this was the real deal.  Well….we have received the checks as they said we would.  We have to pay the deductible as well as a little extra because we wanted architectural shingles.  We bought our home four years ago, and one of the things that helped us was that the last roof installation they didn’t tear off the old shingles.  This meant that it was not possible to repair the roof. 

Let us know if you have an older roof and we’ll help put you in touch with our new friends.  This IS the real deal.

1.    Seal Your Attic.  As you know, your attic space gets VERY hot in the summer time, the time of year when energy costs are highest in the Charleston SC area.  There are several access points for this super heated air to enter your living area.  Anywhere pipes and wiring passes through your attic into your living space, you have HOT air leaking into your home.  Also, by adding a foil-like cover to your insulation, you can reduce the temperature of the surface area in contact with your ceiling drywall.  This temperature can be reduced by 30 to 40 degrees, thereby requiring your air conditioner to work less to maintain your home at a comfortable temperature.

2.    Seal and Enclose Your Crawlspace.  Particularly if you have a musty odor, enclosing your crawlspace from the outside, while also ceiling any leaks through plumbing and wiring access points will result in energy savings similarly to ceiling your attic.  An improved moisture barrier can be applied that will further reduce crawl space moisture levels.  If you have mold in your crawlspace already, this can be treated and then sealed with a non-toxic product that has a lifetime warranty. 

3.    Bring in Outside Air Pressure Into Your Air Conditioning System.  There are a couple of concerns with conventional air conditioning systems.  First, if you have leaks, even small ones, in the air ducts in either your attic or your crawlspace, you’re sucking in un-conditioned air into your system.  This air could be extremely hot or extremely damp, neither of which are good.  Second, if your system is either neutral, or is creating a vacuum, there are un-filtered drafts coming in from outside through your windows, doors, and even your siding/walls.  The fix for this is a Filter Fresh Air Ventilation System (provided by Indoor Environmental Systems, Inc), which brings in outdoor air, rather than crawl space or attic air, filters it, and then increases the pressure from within your home so you don’t have outside air coming in.  With newer, tighter homes, it’s important to have a supply of fresh air so you aren’t just re-circulating the same stale air over and over. 

If you have musty odors in your crawl space, or have family members complaining of allergy symptoms, particularly persistent headaches, your crawlspace and duct work could be the biggest culprit.  Certainly pollen is a huge contributor, but eliminating mold from your home can drastically reduce the most severe allergy symptoms, particularly headaches.  Many mold remediation companies recommend and install de-humidifiers in the crawlspace.  The cost is typically high, and they have to be replaced after 3 to 5 years depending on how much they are running. 

According to the EPA, homes experience a “Stack Effect” where air flows from bottom to top in the Summer time.  For further explanation of the “Stack Effect”, visit www.indoorenviron.com. 

Unfortunately, there isn’t anything new to report as far as market statistics are concerned.  We really won’t be able to see anything conclusive until mid November.  Current inventory numbers remain unchanged and dismal.  I’m afraid we’ve only seen the first phase of what could be a longer term real estate/mortgage related slide. 

Where will the bottom find itself?