530 Speights St- Old Village

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Charming Old Village cottage on a rare, half acre lot! This light-filled home has been fully renovated with a coastal feel, and features ample outdoor space for entertainment. You will love embracing the Lowcountry lifestyle and all that makes this fabulous neighborhood so special! Home features include: *Tabby Shell circular driveway with adorable wooden picket fence and brick pillars *Full front porch flanked with lush landscaping *Open living/ kitchen with tons of natural light and beautiful heart pine flooring *Granite island and counter tops, with white and glass-front cabinetry, subway tile, and stainless appliances *Gas range with pot filler *Separate family room with wet bar and access to the fantastic covered outdoor entertainment area  *Large Laundry room *Custom mahogany doors, high-impact windows, new roof *Detached 2-car garage *Fully fenced back yard *No flood insurance required

Available for $1,199,000.  Contact me for more information, or visit www.SearchOldVillage.com

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The Cassina Group ends 2019 as the No. 1 boutique firm for home sales over $1 million

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Fabulous article on The Cassina Group from LowCountryBizSC

The Cassina Group, Charleston’s innovation-driven real estate firm, had a successful 2019, closing the year as the No. 1 boutique firm for home sales more than $1 million*. The firm also is ranked as the No. 1 boutique firm for home sales more than $500,000. The Cassina Group participated in 439.5 transactions in 2019 for a total sales volume of more than $284 million, placing the company in the top 1% of all companies in the Charleston Trident Association of Realtors MLS.

“We are extremely pleased with our production over the past year,” said Owen Tyler, partner and managing broker of The Cassina Group. “Our knowledgeable, professional and committed Realtors are among the best in Charleston, and we are so thankful for our loyal clients who continue to use Cassina for all of their real estate needs.”

The company participated in several note-worthy sales. Laura Rembert represented the buyers on the purchase of 2619 Bayonne St. on Sullivan’s Island, a record-breaking sale for the island selling for $7,350,000. The company also participated in the sale of five additional properties over $3 million, including 358 Ralston Creek St. on Daniel Island (Robertson Allen represented the sellers), 2319 Atlantic Ave. on Sullivan’s Island (Garrett Rust represented the buyers), 4915 Retriever Road on Wadmalaw Island (Jimmy Dye represented the buyers), 202 McCants Drive in Mount Pleasant’s Old Village (Charles McIntosh represented the buyers) and 517 King St. #14 in downtown Charleston (Stephanie Wilson-Hartzog represented the buyers).

Other notable sales for the year include:

  • 9 Johnson Road, The Crescent (Robertson Allen represented the sellers)
  • 5 Broughton Road, The Crescent (Laura Rembert represented the sellers)
  • 110 Ashley Ave., Downtown Charleston (Charles McIntosh represented the buyers)
  • 11 King St., Downtown Charleston (Robertson Allen represented the sellers)
  • 313 Station 30th St., Sullivan’s Island (Greg Boger represented the buyers)
  • 2302 Atlantic Ave., Sullivan’s Island (Garrett Rust represented the buyers)
  • 735 Olde Central Way, I’On (Meghan Webster represented the sellers)
  • 621 Pitt St., Old Village (Robertson Allen represented the sellers)
  • 112 Freeman St., Old Village (Jimmy Dye represented both the buyers and sellers)
  • 4020 Betsy Kerrison Parkway, Johns Island (Garrett Rust represented the buyers)
  • 422 Tanner Trail, James Island (Chip Eiserhardt & Heath Verner represented the sellers)
  • 720 Jim Isle Drive, James Island (Robertson Allen represented the sellers)

The company, founded in 2006 by Jimmy Dye and Robertson Allen, has offices in downtown Charleston and Mount Pleasant and consistently ranks as one of the highest-producing companies in the MLS. The Cassina Group is known as Charleston’s innovation-driven real estate firm with a proven reputation for delivering stronger results through leading-edge technology and building lasting relationships.

For more information on the company, visit www.TheCassinaGroup.com.

*Statistics pulled from CATR MLS on 2.1.2020

 

To read the entire article and learn more about The Cassina Group, click here.

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

209 Greenwich Street- Old Village- Available for $1,195,000 UNDER CONTRACT!

Custom-built, impeccably designed home located on an elegant, hidden oasis on a quiet street in the Old Village. Once inside, the free-flowing floor plan emphasizes the property’s seclusion by incorporating the main living space into the second floor.  This home must be seen in person to really grasp the extraordinary use of space. Features: *Fully enclosed courtyard flanked with stunning stucco accent walls, pergolas, a tabby patio, brick fire pit, outdoor shower, and lush low-maintenance landscaping*Spacious 2-car garage*In-law suite with kitchenette and separate entrance*Wide-planked white oak flooring *10-foot ceiling *Great room with tons of natural light, decorative gas fireplace and dramatic windows showcasing the surrounding trees *Open flow to white kitchen with oversized white Rhino Marble island, Subzero refrigerator, Italian Cooktop, dual stainless dishwashers, stainless farm sink and Kohler Plumbing fixtures.  Click here for more.  

 

Build Your Dream Home-Vacant Lot For Sale in Old Mt. Pleasant!

1424 Pocahontas Street is now available for purchase for $550,000.  Large lot (almost a half acre) with mature trees lining the property, ready for your dream home in the highly desirable Old Village/ Old Mt. Pleasant neighborhood. Flood Insurance NOT required.  Email me for info, Jackie@TheCassinaGroup.com.

 

Upgrades Worth Considering When it’s TIME TO SELL!

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I am often asked what upgrades are worthy investments to prep a home for sale.  We all know the easy answers….

  • Interior paint
  • Minor kitchen and bathroom updates

But experience (and tons of research) has taught me a few tricks that I am happy to share.  Remember, the goal is to make the home visually appealing to a wide range of buyers!  So for what it’s worth, here are my top picks of upgrades that should be considered when it comes time to sell….

  • Front yard landscaping, new pine straw/ mulch, potted plants for color, and landscape lighting (be sure to get an evening shot for your marketing).  Remember that curb appeal is key!
  • Consider a new high-quality  front door, something special!  Especially in a neighborhood where homes look similar.  Be sure to make your home pop!
  • New garage door!  If needed, this can be a large focal point and by adding a new garage door, you can change the whole look of your home!
  • New roof, if needed.  Insurance companies are asking and could base the buyer’s  insurance rates according to the roof’s age.  If your roof is in need of repair, investing in a new roof will go along way to help secure a buyer and prevent any headaches with your buyer securing insurance.
  • Back yard WOW spots!  This could be a new brick lined patio, fire pit, garden or paved courtyard with water feature and up-lighting  Just remember that folks in Charleston actually use their outdoor living space year round, so use this space to create something usable and enchanting!
  • Large living room rug!  It’s all about scale, and by placing a large, comfy rug in the main living area, you will send a big, welcoming message to your buyers!  And since  the living room is likely the first room the buyers will see, here is your chance to make a bold statement!
  • Green Features!  Buyers love homes with tankless hot water heaters, high efficiency windows, etc.  If it’s time to update any of your mechanical componants, be sure to consider going the extra mile with newer products that are environmentally friendly and energy efficient.
  • Golf Cart!  If you live in a walkable community where golf carts are allowed, a buyer LOVES to see a golf cart included in the sale.  Remember, you are selling more than a home, you are selling a lifestyle and your buyer will love it!

If you are considering buying or selling, I specialize in this market and I am happy to provide you with a personalized plan for success!   Feel free to contact me at Jackie@TheCassinaGroup.com and to see homes for sale in the Old Village/ Old Mt. Pleasant, visit my website at SearchOldVillage.com.

 

 

 

 

Low Mortgage Rates!

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Mortgage rates are LOW, LOW, LOW!  But how low will they go?  That’s the questions.  The benchmark 30-year, fixed-rate mortgage fell to 3.81 percent, down 16 basis points from a week ago, according to Bankrate’s weekly survey of large lenders.

“Mortgage rates plunged, along with bond yields, as the U.S.-China trade war escalated and fears of a global recession have increased,” says Greg McBride, CFA, Bankrate’s chief financial analyst.

So what does it mean?  By looking at the US 30 YR data provided by Feddie Mac, it’s easy to see that buyers can afford “more home” in 2019 vs the tail end of 2018.  If you are interested in learning more, let me know and I will connect you with one of my preferred lenders who will be happy to help.