Wednesday, July 7, 2010

Tax Credit Deadline Extended

Home Buyers Win More Time to Claim Tax Credit
By Ruth Mantell Print Article

RISMEDIA, July 7, 2010—(MCT)—President Barack Obama recently signed into aw a three-month extension on the deadline for home buyers to obtain a federal home buyer tax credit of up to $8,000.

Eligible taxpayers who contracted to buy a home, qualifying for the first-time home buyer tax credit before the end of April 2010, now have until September 30, 2010 to close the deal. To be eligible, buyers need to be in a binding contract that was in place by April 30.

The new law addresses concerns that many home buyers might be unable to meet the original June 30 closing deadline.

The National Association of Realtors has estimated that about 180,000 otherwise eligible buyers were likely to miss out on the credit if the original deadline was upheld. It’s been difficult for some buyers to get their mortgages approved on time, as lenders work through a clogged pipeline of applications.

(c) 2010, MarketWatch.com Inc.

Distributed by McClatchy-Tribune Information Services.

Thursday, June 10, 2010

Sales Continue Upward Trend

RESIDENTIAL REAL ESTATE SALES REACH HIGHEST LEVEL SINCE SEPTEMBER 2007
Sales Up 29%, Prices Continue Pattern of Consistency

According to the Charleston Trident Association of Realtors

CHARLESTON, SC—(June 10, 2010) Preliminary data released by the Charleston Trident Association of REALTORS® (CTAR) shows 878 closings took place last month. This not only marks a 29% increase from the 678 sales in May 2009 but the highest level of closed sales in this region since September of 2007.

The median sale price for May 2010 settled at $186,497. In May 2009, preliminary reports showed a median sale price of $187,000. Last month, figures showed this year’s lowest median price of $180,175.

Year-to-date, 3,277 homes have sold in the Charleston region. This represents a 28% increase in sales activity when compared to the same period last year—at this point in May 2009, 2,553 homes had changed hands.

Our Office at RE/MAX actually has increased production YTD as of 5/31/2010 by 237% and # of Transactions by 183%, when compared to activity thru 5/31/2009 with an average sales price of $227,000, according to David Wertan, Broker in Charge of RE/MAX Advanced Realty. So we are outpacing our competition by agressively marketing our listings not only locally but nationally thru the # 1 real estate company website in the world which is www.remax.com.

There were 9,867 properties listed as actively for sale with the Charleston Trident Multiple Listing Service as of May 31, 2010 which has continued to drop. 6,975 of them are single family homes which continue to be the best sellers and only 185 of those are listed as Lender Owned in our MLS.

BERKELEY COUNTY
Berkeley County led the way in both sales and price increases in May. Bolstered by a flurry of recent activity on Daniel Island, sales in the county increased 46% and median price increased 10% over 2009 levels. 202 homes sold at a median price of $165,517 last month. In May 2009, 138 homes sold at a median price of $150,964.

The majority of Berkeley County activity occurred in Goose Creek and Moncks Corner from Highway 52 to the Cooper River. Daniel Island had a strong showing this month with 22 homes sold at a median price of $540,450, the strongest month so far this year.

CHARLESTON COUNTY
Charleston County also posted impressive increases in May—475 sales resulted in a 31% increase over May 2009’s 363 sales and prices increased 6% from $215,000 to $228,000.

The majority of activity took place in Mount Pleasant, south of Highway 41. 99 homes sold at a median price of $341,236 in that area. An unprecedented 32 homes sold for a median price of $245,988 on Johns Island—the most sales on the island since March 2007.

DORCHESTER COUNTY
170 homes sold in Dorchester County last month, representing a 10% increase from May 2009, when 155 homes sold at a median price of $168,000. Prices showed a quiet decline of less than 2%, settling at $165,050.

The increase in sales was led by consistently strong activity in the Summerville/Ridgeville area, where 86 homes sold at a median price of $169,272.

APRIL 2010 ADJUSTMENT
Preliminary numbers reported for April 2010 indicated 784 homes had sold at a median price of $180,175. Adjusted numbers now show that 844 homes sold at a median price of $181,000.

What all this means to you? Call me and lets talk about getting your home sold or buying your new home before the values start increasing and the rates go up. I look forward to hearing from you,

Sincerely, David Wertan & The Wertan Team of RE/MAX 843-270-6455

Monday, April 12, 2010

Dave Ramsey is Coming to Charleston

I am sponsoring Dave Ramsey Live in Charleston tomorrow evening the 13th of April at the North Charleston Coliseum.

Dave Ramsey is a Nationally syndicated Radio Talk Show Host and also on Fox Business News and he talks about getting your finances in order "Living Like Nobody Else so that One Day You Can Live Like Nobody Else".

His presentation is straight forward and can change your life forever. It is truly an amazing experience, his simple approach that is based on Christian faith principles can be applied to anyone of any religion in any circumstance and of any income level.

He offers coaching to NFL football players and has helped tens of thousands of normal folks like you and me.

If interested in going to see Dave Ramsey Live tomorrow night let me know as I have a handful of tickets available for FREE to those that respond, also, if you are already going please make it a point to stop by my booth / table and say hello.

Hope to see you there as we prepare for the rest of our life. Take care, David Wertan of RE/MAX Advanced Realty

Sunday, April 4, 2010

Watching the House Next Door

This is a recent comment I made on Ken Burger's column in the Post & Courier in which he talks about his neighbors house being on the market for over a year and nobody even slowing down and looking at the home, etc.

Ken, selling a home requires more than just putting a sign in the yard nowadays, you have to have it priced right according to the market, it has to show well and most important you have to have an agent and a company that can afford to market the property the way it needs to in order to get it sold.

In many neighborhoods there are not a lot of for sale signs, like Summerville Place for example. I listed a home last Monday night that had been on the market with a local real estate company that has no internet presence for months, with my marketing I had it SOLD by Thursday and had another offer come in yesterday as well. A few weeks ago I listed a townhouse in Ashley Park West of the Ashley and SOLD it in the same day. I closed one on Daniel Island this past week that I had listed at $569k and SOLD in less than 2 weeks for $540,000.

So, in my opinion the market has picked up and I can show you the sales to prove it but you have to list with a company that has embraced the internet, has the traffic and can properly market your property, small local companies that got spoiled in the past by just putting up a sign don't understand why their listings aren't selling. Also, some sellers are still unrealistic.
If you owe more than your property is worth we can sell it thru a short sale, we have done numerous short sales and many of them our sellers did not get a single bad mark against their credit.

I do believe that real estate will drive the economy and help it get back on solid ground as we have large industrial projects underway that will spur smaller projects and those people will need homes to raise their families in addition to the retirees we have coming to the area and buying now while prices are down. I have been thru many cycles like this in the past 26 years and I know one thing for sure is "This too shall pass"

Tuesday, March 23, 2010

Opportunity Knocks

Never in the history of America has there been so great an opportunity for practical dreamers as now exists. The six-year economic collapse has reduced all men, substantially, to the same level. A new race is about to be run. The stakes represent huge fortunes which will be accumulated within the next ten years.

We who are in this race for riches should be encouraged to know that this changed world in which we live is demanding new ideas, new ways of doing things, new leaders, new inventions, new methods of teaching, new methods of marketing, new books, new literature. Back of all of this demand for new and better things, there is one quality which one must possess to win, and that is definiteness of purpose - the knowledge of what one wants, and a burning desire to possess it.

Those words, which accurately describe today's business conditions, were written 70 years ago, toward the end of the Great Depression. They appear in "Think & Grow Rich," the classic motivation and personal development book authored by Napoleon Hill and published in 1937.

Now compare that to today's enviroment and I hope you realize the opportunity, call David Wertan & The Wertan Team today at 843-330-2500 to take advantage of the opportunities that exist today in foreclosures, REO properties, short sales, etc.

Monday, March 15, 2010

More Jobs Coming to Charleston

Check this out, more and more jobs, two new companies have announced that they are taking over recently emptied warehouses on Clements Ferry Road, this area saw a mass exit in 2007 when Mikasa and the other company pulled out. The number of jobs being created now by the new companies are double the amount that we lost when the other companies pulled out and continues to diversify our economy.

If you haven't already now is the time to buy !! First Time Homebuyer Tax Credits are running out April 30th (as well as Tax Credit for existing homeowners that buy a new house), also foreclosures are selling with multiple offers, short sales are getting easier, rates are at all time lows, all making this the time to buy.

Don't look back and say "I wish I would have bought when......"

Call me or a member of the Wertan Team today, and feel free to pass this info along to any friends and relatives,
Thanks, David Wertan of RE/MAX Advanced Realty 843-270-6455

Tuesday, March 9, 2010

Moody's Forecast Real Estate Performing Best in Charleston, SC, for 2010

Yes, another article comes out about Charleston, SC, is one of only 5 metro areas expected to actually see an increase in prices for 2010.

It comes as no surprise to me as our area is tough and the economy is diversified, we have the beaches, the historical downtown, tourist, the port, large industry, retirees, etc. All this makes Charleston more resilent.

Yes we have felt some hard times but they are soon to be a thing of the past. The recent article in Smart Money Magazine says “Most of these markets did not have a big boom — they did not have a lot of new home construction, so you didn't get a lot of excess supply. You didn't get prices shooting up above national averages for the most part,” says DeVol.

Well that is not true for Charleston, we experienced one heckuva run up with prices doubling in less than 4 years on many properties, thousands of condos selling with people sleeping outside overnight, every major builder in the country calling Charleston their # 1 market. I remember an article on the front page of the Post & Courier (and this should have been a sign) that we had 23,000 new permits issued for new homes to be built in our area which meant over 100,000 new people would have to move here to absorb them. That is happening and will continue to happen but could not keep up the pace at which they were building new homes.

What these articles mean to you is if you or anyone you know has ever thought about buying a new home or investment property, than NOW is the Time !! Call me and lets find you a deal before the supply twindles and prices increase. Thanks, Sincerely, David Wertan of RE/MAX Advanced Realty 843-270-6455 or check out my online magazine about Charleston at www.CharlestonLowcountryLifestyle.com

Read more: 5 Metro Areas on the Real Estate Mend at SmartMoney.com http://www.smartmoney.com/Personal-Finance/Real-Estate/5-Metro-Areas-on-the-Real-Estate-Mend/#ixzz0hhSUTHSf

Wednesday, February 17, 2010

Look Out for the Retirees

Just read an article that South Carolina has now won out as the Retirement State of choice for Baby Boomers, this is a huge generation of people that are all about to begin retiring.

They interviewed 1,000 Baby Boomers across the United States and said which State do you want to retire to, and for the First time we beat out Florida, the list went like this

1. South Carolina
2. North Carolina
3. Florida

and then who cares who is after that.

With all of the great news about our area recently in the press NOW is the time to buy and take advantage of the foreclosures and short sales and get something at a deal before prices double again.

Homes are now selling and sales are way up but this is just the beginning.

Our First Home Ported Cruise Ship left earlier this week for its inaugeral cruise out of Charleston with Celebrity and then the Carnival Ship starts in April or May. I think they under estimate the impact that these ships will have on our area. People will come to catch the ship, stay a day or two before or after and fall in love with Charleston and then go back and make their plans to move here.

What an exciting time to be in Real Estate !!

Call me soon so you don't wait and say I wish I would have bought back in 2010 !!

Also, if you know of any agressive, young real estate agents that are willing to work hard and would want to make $100,000 per year, I have two openings on my team that need to be filled immediately so tell them to call me.

Tuesday, February 2, 2010

Sales Are Up Again

I don't know about you but every where I go I see that sales are up. I was just at lunch at Wild Wings and on the News they had in background it said housing sales were up 10% and that builders were having their first profitable quarters in years with housing stocks going crazy on the news.

I got back to my computer and low and behold the stats are out for our market, in Charleston sales for December 2009 were up 30% over December 2008 !! YEAH !!

And Other Headlines over past few months read "October 2009: Sales Up 31%", "September 2009: Residential Sales Increase 7%", "August 2009: Residential Market Reflects End Of An Active Summer Season", "July 2009: Residential Real Estate Sales Increase 4% From One Year Ago", etc.

Do you see the trend ??

It is just like in 2006 and 2007 when all they talked about in the media was the housing bubble and mortgage defaults in 2007 and 2008, well NOW in 2009 they started going positive and you can really see the numbers and feel the activity. The market is now alive and well, yes prices are down and there are foreclosures and short sales to contend with but with rates at all time lows you could not ask for a better combination to make it the "BEST TIME TO BUY EVER"

So call me or a member of my team today at RE/MAX where our sales were up 48 % in 2009 over 2008 and in the last quarter of 2009 we were up over 200% over the last quarter of 2008.

You can reach me at 843-270-6455 or my team at 843-330-2500 anytime or visit www.DavidWertan.com and buy now so you don't look back and say "Oh, I wish I would have bought ....... "

Thursday, November 26, 2009

Charleston's Economy is Getting Ready to Kick Butt

I don't know about you but I am already seeing increased activity from all of the announcements about Companies coming to Charleston.

Of course, everyone is stoked about Boeing and the huge impact it is going to have on Charleston for years to come. They just broke ground and already have the land cleared and are surveying to start building, they say during construction which is going to run 24 hours per day there will be as many as 700 workers per shift just to build the huge plant.

Then you have TDC or that Huge Tire Distribution Company that is building a distribution center here that will be the # 4 user of the Port immediately upon opening operations.

You have the announcement that Mersk has decided to stay in Charleston.

You have the Cruise Ships that are starting to visit on a regular basis and for the first time ever in the Spring we are going to have a ship that runs out of Charleston as its regular port.

And, now you have the announcement about the Turbine Facility to be located on the former Charleston Naval Base that will become a test bed for the world's largest offshore wind turbines.

All of this news and I have seen the activity in Real Estate as well, for example I listed a home on Daniel Island the other day and through my internet exposure of the property we had an offer within the first week from a buyer moving here for a new job from Boston, Mass.

In addition to all of this the banks seem to finally be getting it together with new loan programs coming out on a regular basis and get this we had a short sale with Bank of America on a house in Riverland Terrace that I got approval from the bank within 6 weeks of submitting the offer, which has been unheard of.

We are rocking and rolling, and so will the economy in Charleston so NOW is the time to make that purchase, buy an investment, a lot to build on later, a REO or short sale to step up, etc. Let me know and I am here to help you or anyone that you know find the right deal or if they need to sell quickly I can make that happen as well. Call or E-mail me anytime and I hope you and yours have a Happy Thanksgiving, I know I will. Sincerely, David Wertan of RE/MAX Advanced Realty 843-270-6455 or visit www.DavidWertan.com