BB&T was established in 1872 and for the past 140 years we have shared our knowledge with our clients.  By offering sound advice and personal attention, we help our clients make informed choices as they manage their day to day finances and set a course to reach their long-term financial goals.

In the area of mortgages we offer an array of mortgage loan products that I’m sure together we can determine the right fit for your personal financial needs.  First time homebuyer?  We have a product called the CHIP that in some cases offers 100% financing without mortgage insurance.  Building a home?  We have a Construction/Perm product that has a one time closing that provides financing during the construction phase and when the home is completed rolls over to a permanent loan.  Looking to purchase an investment property?  We offer Non-Conforming financing on investment property.  These products are just a few of many mortgage financing options offered at BB&T.

Debbie is one of our preferred lenders and BB&T is a bank that I fully endorse. Their products and services always seem to outshine the competition! Please consider contacting Debbie Malone at BB&T for all of you lending needs! From all of us at The Fred Holland Team and BB&T, we wish you a Merry Christmas and Happy New Year!

Debbie Malone dmalone@bbandt.com (843) 406-6654

What buyer’s want to know about Charleston?

I get a lot of calls from potential out-of-town buyer’s asking about Charleston and what areas should they look to buy in. They always ask the same questions. Could I elaborate on the different locations? How close to the beach are these areas? How close to Downtown? What has the best return on investment? In this article I would like to discuss the Charleston Real Estate Market and location layout. I tell every client the same thing. I can never promise a return on investment but I will try and find them the best deal in that area. I work by a risk/reward system but I look at the risk vs. the reward. That means instead of saying you will make 20% in 4 years. I consider if the market fell by 5% annually for the next 4 years and you are getting this 20% below market value then you have minimal risk.

Charleston is very unique. We have several islands surrounding the Downtown Peninsula. The most demand in past years has been on these islands. I will explain why but first let’s look at Downtown. When people visit Charleston they spend most of their time on the Peninsula. Charleston is rich with entertainment, history and fine dining. The Peninsula is actually very small and most homes are the famous 1800′s built “Charleston Single Style.” The pros to buying Downtown are location and the uniqueness of living there. Most of the homes are extremely old and because homes are right on the street and due to the size of the peninsula, parking is limited and at a huge premium. Due to the age of these homes you will see a lot more issues on inspections than normal. We also have what is known as the “Charleston Lean”. These homes have a lean to them. Some can be very dramatic but in most cases they are structurally sound and widely accepted because they are so common. Downtown can have a hefty price per sq foot. The biggest demand I see is South of Calhoun. I deal with more 2nd homes, investors and/or college kids purchasing on Downtown Charleston than I do locals.

West Ashley is our shopping district. West Ashley does not have a high dollar per sq. ft. as Downtown but is more expensive than the North Area. Due to the size of West Ashley and traffic, the length of time it takes to get Downtown or the beach varies. West Ashley saw good demand in the 2000′s. I have had a lot of first-time home buyer’s purchase in West Ashley.

The North Area which includes, Charleston County, Dorchester County and Berkeley provide the “biggest bang for your buck”. Since 2000 we have had a large amount of national builders build in the North Area. Due to the size of this area I would say it did not have as much demand as the surrounding areas I discussed in this blog. I have sold to a lot of young professionals and military in this location. The biggest complaint that I hear is the distance to Downtown Charleston and the beach. It could be anywhere from 15-45 minutes. In most locations the interstate would be the fastest way to travel. The north area has a lot of shopping malls, entertainment and restaurants. The Dorchester 2 school district is also located in this area.

Mt. Pleasant is just a short drive to downtown and Isle of Palms. They have great restaurants and shopping. This area was in very high demand in the early to mid 2000′s. The average price per sq. ft. is more than the North Area, West Ashley, James Island and Johns Island. I have had all types of clients purchase in Mt. Pleasant. Single Family homes were historically above 225K in this area.

James Island is 8 miles to downtown and 8 miles to the beach. This is a smaller island that I find most buyers looking to buy in. At one time it was very difficult to find a Single Family Detached home under 250K. Now you can find something around 200K. With the right agent and hard work you might find a great deal below 200K. One of the cons with James Island is the lack of diners and shopping. Johns Island is a little further out from Downtown and the beaches than James Island. It also has a lot of undeveloped land. If you are looking for some privacy then this would be an ideal area for you. Johns Island appreciated over 22% in one year.

The beaches were in the highest demand of all through this decade. They provided the biggest return on investment percentage and dollar amount wise. Most beaches are just a short drive to shopping and have some of the best dining around. We have several articles from experts projecting the Charleston Real Estate Market to be one of the best in the nation in Q3 of 2009. We are seeing subtle signs that things are beginning to improve and honestly hope the experts are correct. If you would like a copy of these articles please email me at josh@fredhollandrealty.com

There are several other areas that we work in but I just wanted to give a very brief explanation of the areas that I received the most questions on. I have uploaded a picture map so you can get an idea of location. Our team is knowledgeable and experienced in every area from Charleston to Edisto and West Ashley to St. George. We honestly believe that Charleston is one the best places to live. Please come and see for yourself why year after year we are voted the friendliest city in America!

THE FRED HOLLAND TEAM