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Overall prices are continuing to drop in Mount Pleasant and in the Charleston SC area. The main reason is a lot of homes that are being sold are being purchased at prices well below the average listing price. The reason is a lot of homes are in very poor condition and desperately need to be updated, both cosmetically (i.e. carpet, paint, and etc.) and mechanically (i.e. furnance and ac need to be replaced) most often. The lower selling price of homes that needed repairs is affecting the price of homes that are good condition.
Johns Island Resists Charleston, SC Real Estate Market Tumble
June 18th, 2009 12:08am , mattlawre - Charleston, SC (OPENPRESS) June 18, 2009 -- May home prices for existing homes fell 16 percent in the southern states, according to the National Association of Realtors. While prices are remaining low throughout the country, some areas are seeing slight rebounds, but this is not the case in the south.
Once popular cities like Charleston, SC are seeing prices for homes continue to plummet amidst this economic crisis. As people wait to see what the government stimulus and bailout plans will bring, houses sit on the market longer and longer, with lower and lower prices. As more houses are placed on the market, the market becomes saturated with available properties, and this pushes the selling price even lower as buyers are tempted to bring extremely low offers.
While Charleston is one of the harder hit areas in this real estate slump, its close neighbor, Johns Island, has not been hit in the same way. http://www.movetojohnsisland.com Johns Island is the fourth largest island on the east cost, but it maintains a relatively low population density. Part of the reason for the small population is the fact that the island has been isolated from the mainland for most of its history. It was not until the recent addition of modern bridges connecting the two that people could come and go freely form the island. This small population means there are more marsh front and water view properties on Johns Island than on the mainland and surrounding islands.
Homebuyers who are looking to escape the downward cycle of Charleston real estate are looking to homes on Johns Island. Johns Island real estate includes a number of upscale properties that are gaining popularity among homebuyers. The area is popular both for its rustic feel and the fact that it is located near the http://www.saintjohnsproperties.com Seabrook and Kiawah Island golf resorts.
When asked about current interest in the island, Ben Wiese of MovetoJohnsIsland.com said, "We have http://movetojohnsisland.com/relocationpacketrequest.aspx Johns Island relocation packets flying out the door." This local visitor's authority went on to say, "People are realizing capital gains in real estate aren't a guarantee like we thought in the 90s and are looking to future-proof their next home purchase."
Many who move to Johns Island come from Charleston, which is just five minutes away. While the commute into the city from the island is no longer a challenge with the addition of modern roads connecting the two, finding Johns Island real estate is not always easy. The island has few large neighborhoods like those found in Charleston, because the residents have kept zoning rules tight in order to preserve their rural, rustic lifestyle.
To read the rest of this article, http://www.theopenpress.com/index.php?a=press&id=52254
Charleston, Mount Pleasant, & Hanahan Real Estate For Sale
Matt Naumann – Charleston & Mount Pleasant, SC Real Estate Agent & Entrepreneur
"Taking Real Estate Home Buying, Investing and Selling to the Next Level" is my personal goal. I specialize in using creative strategies to help my clients buy, invest, or sell real estate in the Charleston & Mount Pleasant, SC Real Estate Market. My motto is “There is always a way!” Google or Call me (843) 818-9898 and let’s discuss how I can help you in save $1,000s when you buy, invest, or sell real estate.
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Today's Rates:
| 30-yr Fixed | 4.97% | 5.13% | | 15-yr Fixed | 4.33% | 4.56% | | 1-yr Adj | 4.27% | 5.3% |
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