Thank you to my clients! Here Are Some Of My Recent Neighborhood Sales!

121 freeman

121 Freeman Street

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686 Adluh

686 Adluh Street

739 hill

739 Hill Street

1424 poca

1424 Pocahontas

I specialize my business in this market, if I can help you with real estate in The Old Village/ Old Mount Pleasant, please let me know!  And to receive a list of homes for sale or sold, visit www.SearchOldVillage.com

 

 

 

Meet Joanna with the White Gallery!

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“We are so thrilled to have relocated our gallery from Sullivan’s to our new location on the corner of Coleman Blvd and Fairmont Ave.  Our gallery is packed with unique and eclectic finds that include artwork, jewelry, vintage antiques, and more.  Looking for something special?  We have it!  And if we don’t have it, we will try to find it, because locating and repurposing treasure is our personal passion!  Stop by and check out our one-of-a kind items!  We are thrilled to bring The White Gallery to this special community! Follow us on Instagram!

white gallery

 

2020 Real Estate Projections

This will be an interesting year for residential real estate. With a presidential election taking place this fall and talk of a possible recession occurring before the end of the year, predicting what will happen in the 2020 U.S. housing market can be challenging. As a result, taking a look at the combined projections from the most trusted entities in the industry when it comes to mortgage rates, home sales, and home prices is incredibly valuable – and they may surprise you.

Mortgage Rates

Projections from the experts at the National Association of Realtors (NAR), the Mortgage Bankers Association (MBA), Fannie Mae, and Freddie Mac all forecast mortgage rates remaining stable throughout 2020:

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Since rates have remained under 5% for the last decade, we may not fully realize the opportunity we have right now.

Here are the average mortgage interest rates over the last several decades:

  • 1970s: 8.86%
  • 1980s: 12.70%
  • 1990s: 8.12%
  • 2000s: 6.29%

Home Sales

Three of the four expert groups noted above also predict an increase in home sales in 2020, and the fourth sees the transaction number remaining stable:

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With mortgage rates remaining near all-time lows, demand should not be a challenge. The lack of available inventory, however, may moderate the increase in sales.

Home Prices

Below are the projections from six different expert entities that look closely at home values: CoreLogic, Fannie Mae, Ivy Zelman’s “Z Report”, the National Association of Realtors (NAR), Freddie Mac, and the Mortgage Bankers Association (MBA).Each group has home values continuing to improve through 2020, with four of them seeing price appreciation increasing at a greater pace than it did in 2019.

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Is a Recession Possible?

In early 2019, a large percentage of economists began predicting a recession may occur in 2020. In addition, a recent survey of potential home purchasers showed that over 50% agreed it would occur this year. The economy, however, remained strong in the fourth quarter, and that has caused many to rethink the possibility.

For example, Goldman Sachs, in their 2020 U.S. Outlook, explained:

“Markets sounded the recession alarm this year, and the average forecaster now sees a 33% chance of recession over the next year. In contrast, our new recession model suggests just a 20% probability. Despite the record age of the expansion, the usual late-cycle problems—inflationary overheating and financial imbalances—do not look threatening.”

Bottom Line

Mortgage rates are projected to remain under 4%, causing sales to increase in 2020. With growing demand and a limited supply of inventory, prices will continue to appreciate, while the threat of an impending recession seems to be softening. It looks like 2020 may be a solid year for the real estate market.

**Information provided by Keeping Matters, click here for more.

202 Pitt Street- Available For Purchase for the First Time in over 50 Years!

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HOME IS AVAILABLE FOR $2,150,000

Circa 1892, this home has withstood the test of time and is now available for purchase for the first time in over 50 years!  Known as the Hale-Seabrook house, 202 Pitt Street in one of the Old Village’s most recognizable homes.  The dignified 4400 square foot estate is a blend of old and new, and is located just steps from the Pitt Street Shopping district.  No historical feature has been removed.

Built by lumberman Harry Hale in 1892 the home was later sold to John G. Seabrook, who recognized its superior quality and vast potential.  Mr. Seabrook hired a master carpenter and contractor to renovate the home, which was lifted and repositioned to face Pitt Street.  Creating the home’s grand style, he also added the beautiful brick-lined walkway and portico, flanked by four dramatic two-story columns (which were reclaimed from a mill in Marion, SC) topped with a stunning entryway door with curved transom and sidelights.  The home has been lovingly maintained and was renovated in 2005 (kitchen/ den, etc) to reflect a modern feel while maintaining the architectural history.

The traditional floor plan features a formal living room, formal dining room, updated kitchen, adjoining den, and guest bedroom on the first floor.  The remaining 3 bedrooms are located upstairs, including the master suite and deck overlooking Pitt Street.  There is also a finished basement with a second kitchen, built in bar plus garage doors leading to an outdoor kitchen- perfect for entertaining.  You will love the traditional antique heart pine flooring, original clear cypress walls, classic crown molding, 10 foot ceilings and more!

202 PItt Street is listed for $2,150,000 by Jackie Kelly, REALTOR® with The Cassina Group.  For more details, contact Jackie@TheCassinaGroup.com or visit www.SearchOldVillage.com.

 

 

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Charleston Market To Outpace Averages

Economists Expect the Charleston Real Estate Market to Outpace National Averages Through 2025

CHARLESTON, SC—(December 11, 2019) The National Association of Realtors® (NAR) identified 10 markets expected to outperform over the next three to five years. In alphabetical order, the markets are:
• Charleston, South Carolina
• Charlotte, North Carolina
• Colorado Springs, Colorado
• Columbus, Ohio
• Dallas-Fort Worth, Texas
• Fort Collins, Colorado
• Las Vegas, Nevada
• Ogden, Utah
• Raleigh-Durham-Chapel Hill, North Carolina
• Tampa-St. Petersburg, Florida
“Some markets are clearly positioned for exceptional longer term performance due to their relative housing affordability combined with solid local economic expansion,” said NAR’s Chief Economist Lawrence Yun. “Drawing new residents from other states will also further stimulate housing demand in these markets, but this will create upward price pressures as well, especially if demand is not met by increasing supply.”
NAR identified the top 10 metro areas based on domestic migration, housing affordability for new residents, consistent job growth relative to the national average, population age structure, attractiveness for retirees and home price appreciation, among other variables. As an indicator of strong housing demand in these markets in the past three years, home prices in these 10 metro areas have increased annually by at least 7%.
1,332 homes sold in November in the Charleston region at a median price of $268,000 according to preliminary data released today by the Charleston Trident Association of Realtors® (CTAR). Last November, 1,301 homes sold at a median price of $268,453.
This year’s 17,010 closings show transactions up almost 1% and median price up 5%, to $277,900 for the region.

There are 17% fewer homes for sale than at this point last year, with 5,265 homes listed as “active” for sale in the CHS Regional MLS database at the end of November.

Newly installed 2020 CTAR President Bobette Fisher said, “The economists’ expectation for Charleston to continue outperforming other markets is a tremendous recognition for our region—we have been enjoying many years of economic expansion and growth, with new people moving to our area every day and keeping Charleston a growing, vibrant community. However, affordability and sustainability remain the chief concerns for our growing market”

“We check all the boxes that make Charleston a top performer—but we have to keep market sustainability top of mind” said CTAR CEO Wil Riley. “We’re well positioned for more growth on many fronts—jobs, population and our economy is strong—but if we do not focus on developing smart growth strategies, we’ll price those who are coming here for those jobs out of the market” he said.

“Meeting the demands of the future will be a challenge” said Fisher. “This is why as an Association we are committed to creating and maintaining partnerships with municipalities to help craft smart growth strategies and place development where it makes sense and where it contributes to increasing the quality of life for all residents” she said.

*Information provided by the Charleston Association of REALTORS

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2-Story Penthouse- 18 Broad Street- Available for $12,500,000

18 Broad Street, 8000 sq feet, located on the top two floors of The People’s Building.   Click here to view entire listing. 

1 - Copy6-18BroadStreet-KeenEyeMarketing-63 - CopyCharleston is home to some of the most stunning properties in the world, but there’s really nothing that compares to the stature and location of 18 Broad Street, also known as the Peoples Building. Nestled near the corner of historic Broad and East Bay Streets, find yourself immersed in all of the historic charm of the city and steps away from the best in southern cuisine, entertainment, and the unmatched scenery of the Holy City–Conde Nast’s Top City in the US for nine years. Unparalleled in prominence, and certainly in panoramic views, the penthouse at 18 Broad comprises the top two floors of the historic People’s Building, originally built in 1911.  For more details, contact me at Jackie@TheCassinaGroup.com

Pitt St Pharmacy Grilled Cheese Eating Contest! It’s on!

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Join me at the Pitt Street Pharmacy, Thursday, Oct 3rd at 6:30 pm for The Grilled Cheese Sandwich Food Challenge!   Randy Santel, professional food eater, will be pursuing his goal of winning 1000 food challenges in all 50 states and 50 countries.

The current Pitt Street Pharmacy Grilled Cheese Eating Contest Record Holder is David Hester, who ate 27 grilled cheese sandwiches on May 30, 2013.  Think about it… that’s 54 pieces of bread and cheese, not to mention, a good bit of Duke’s mayonnaise!

And Santel plans to crush this number?  We will see if he can!

Santel is founder and owner of foodchallenges.com. He has won over 779 food challenges and has over 860,000 YouTube and Facebook followers.  And although he will be eating big, he is an advocate for nutrition, fitness and personal wellness and won the  2010 Men’s Health/Spartacus Body Transformation Challenge.

The Pitt Street Pharmacy is such a staple of our community, and how fun for us to come together to watch this exciting and, well, yes.. cheesy event!  See you there!

 

 

739 Hill St, Old Mt Pleasant, listed for $895,000- UNDER CONTRACT!

Lovely renovated home listed for $895,000.  Located on a quiet street in the Old Village/ Old Mt. Pleasant neighborhood. Home features include: *4 bedrooms, 3 baths and 2450 square feet. *Great curb appeal with a fully fenced yard, beautiful up-lit Grand Oak tree, spacious screened front porch, metal roof and flagstone patio. *Charming entry foyer with Ship Lap walls and wide-plank reclaimed Heart Pine Floors (that carry throughout the entire first floor) *Cathedral Ceiling in Living room with gas fireplace and custom mantelpiece.  UPDATE, HOME IS NOW UNDER CONTRACT!

 

 

Charleston-area Home Showings Drop for 11th Straight Month

jk sold

Interesting information from the Post and Courier, and while I must agree with the stats, I will say that working with a seasoned Realtor, who knows your market, is the key to going under contract quickly.  As an example, my most recent Old Village Listing 209 Greenwich Street, went under contract in 7 days. 

From Warren L. Wise, Post and Courier

While Charleston-area home sales are just slightly off last year’s pace through the first half of the year, home showings continue to lag.

For the 11th consecutive month, the number of people walking through doors to check out a house dipped across the Lowcountry in June.

The ShowingTime Showing Index for the Charleston region reported the number of doors being opened for prospective buyers dropped 6 percent in June. Showings have been down every month since last August and are off an average 9.4 percent over 12 months through June.

The good news is the negative showing rate has moderated in recent months from the double digits last fall and earlier this winter.

Sales are down for the year through July a scant 0.6 percent, but if more homes were available at price points people could afford, sales would be higher, according to Wil Riley of the Charleston Trident Association of Realtors.

“The rise in home prices is outpacing income growth,” he said. “In our region, the $53,000 median household income does not align with a median home price that’s climbing toward $300,000.”

Nationally, showings dipped 1.8 percent, and an official with the Showing Index said declines have moderated across much of the nation.

“Activity in the South and Midwest remains slightly slower than in 2018, though there is more buyer activity in the lower price quartiles of the market,” said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. “Pricier homes continue to see less traffic compared to the same time last year.”

It has never been more important to work with a full time, professional Realtor who knows your market.  If I can help, please contact me at Jackie@TheCassinaGroup.com

 

New Art Studio on Pitt Street!

 

 

Formerly The Vault on King, Studio Shoppe is an epicenter of Art and Design, where fine craftsmanship and curated services merge to create a one-of-a-kind experience.

Situated in the beautiful Old Village of Mount Pleasant, Studio Shoppe offers 2000 square feet of signature historical beauty and unique expertise in photography, painting, furniture design, fashion and entertaining with a luxe local flavor.

This vibrant showroom, open studio and marketplace houses deluxe textiles and home furnishing from Loro Piana + luxury apparel, shoes and accessories from France, handmade gifts, and 7 creatives at work, offering original art and photography, handcrafted furnitures and a variety of specialized services.

Studio Shoppe also hosts a number of exhibitions & pop-up events with some very exciting collaborators.