Travel & Leisure Magazine named Charleston as America’s Friendliest City in America (Nov. 2010). It was also named #1 for inns, bed & breakfasts and antique stores. With Conde’ Nast having named Charleston the #1 tourist destination in America in October, 2011, displacing San Francisco, I invite any who have not visited here to come and partake of our city’s delightful history (Revolutionary War, War Between the States) with beautiful homes and architecture, historic plantations and gardens (Boone Hall, Drayton Hall, Magnolia Gardens, Middleton Gardens). We also have a large number of outstanding hotels and restaurants, beaches (Isle of Palms, Sullivans Island, Folly Beach, Kiawah Island) and golf courses. We host the Southeastern Wildlife Exposition in February, The Cooper River Bridge Run in April, and the Spoleto arts Festival in late May/early June. There are 3 major universities here – The College of Charleston, The Citadel, and Charleston Southern University, as well as Trident Technical College. Charleston is the home of the Charleston RiverDogs (New York Yankees affiliate), the Charleston Stingrays hockey team, and the Charleston Battery soccer team. We have horse-drawn carriage tours downtown, boat tours to Fort Sumter, the Charleston Museum, and the Hunley submarine. There is something here for everyone!

Charleston was named #2 in the Travel & Leisure 2011 World’s Best Awards list of Top Cities in in the United States and Canada, based on the 16th annual readers’ survey, up from #3 last year. Last year’s #2, San Francisco, dropped to #4 this year, just behind Chicago. This is the highest ranking Charleston has ever achieved in this survey. (New York City took top honors for the eleventh consecutive year.)

Four South Carolina hotels and resorts were named among the top hotels in the World’s Best Awards survey this year – two are in Charleston and two outside the city.

• Inn at Palmetto Bluff, an Auberge Resort, Bluffton, SC (near Hilton Head), is ranked #7 on the list of Top 50 Resorts in the Continental U.S. and Canada and ranks #60 on the list of World’s Best Hotels Overall.

• Sanctuary Hotel at Kiawah Island Golf Resort, outside of Charleston, ranks #17 on the list of Top 50 Resorts in the Continental U.S. and Canada, and #97 on the World’s Best Hotels Overall.

• Charleston Place Hotel is the top-rated hotel in Charleston, ranked #26 on the list of Top Large City Hotels in the Continental U.S. and Canada.

• Planters Inn, Charleston, is ranked #10 on the list of Top 10 Small City Hotels in the Continental U.S. and Canada.

In a separate list of the top 10 hotels in America, there are two hotels listed that are on the outskirts of Charleston and one in the city: The Woodlands Resort in Summerville is #2, Sanctuary Hotel #4, and Planters Inn #6!

When you are looking for a great place to visit, to relocate or to retire, think about Charleston! If you would like to find a home here, please contact me and I would be happy to help you find just the right home!

I take particular delight in working with first-time buyers, and I will not forget the look on the face of one of my buyers when she looked at the HUD-1 form during our review the day before closing. When she saw the actual savings she was going to realize, she was ecstatic! Her new townhome is larger and nicer than her apartment, and actually saving her over $100 per month! I could see the wheels turning as she considered what she could do with the savings to make it her own. Seeing people so happy with their choices is one of the things that makes this profession so rewarding!

I recently attended a program sponsored by the Charleston Trident Association of Realtors and was introduced to a new, environmentally-safe technology that is now available for homeowners who are having trouble getting rid of odors or mold. Having bought a couple of automobiles where the previous owner smoked, I have recognized how difficult it is, for example, to get rid of the odor of cigarette smoke that has permeated the carpet and upholstery of the car. Most methods simply rely on trying to cover up the odor rather than removing it entirely. The owners of a local company, Biosweep SouthEast, discovered this new technology for that very purpose when trying to remove smoke odors from automobiles, and are now applying it for use in homes, vehicles and businesses. Their technique involves using machines that create hydrogen peroxide gas, a non-toxic product that destroys the sources of odors at the cellular level. Here is a statement from their website: “Our chemical-free and environmentally-safe technology eliminates odors from a wide variety of sources and destroys airborne and surface contaminants, including: airborne bacteria, viruses, mold spores, fungi, aerosols, fumes, and volatile organic compounds. We can eradicate smoke odors, pet odors, virus, bacteria and mold spores during the day while you are away at work. Or you can schedule to complete the treatment during the evening while your home is vacant.” Please call these folks at 843-327-0053 or check their website if you can use their services, and remember to call me at 843-607-9279 or check my website for all of your residential real estate needs, including referrals to business professionals like Biosweep Southeast.

According to the Charleston Trident Association of Realtors, the first quarter of 2011 provided some optimism in the local real estate market. The number of closed sales was up vs. the same period in 2010 and the number of homes available for sale decreased, while median home prices continued a slight decline. There were also some positive indicators in the economy.

Even while compared with last year, when there was a significant positive impact of the first-time buyer credit from the Federal government, there were 1912 closed sales in the tri-county area in 1Q 2011 compared to 1767 in 1Q 2010, an increase of 8.2%. This is still down from the 2242 in 1Q 2008, but it is very encouraging.

The number of homes for sale decreased from 10,349 in 1Q 2010 to 8594 in 1Q 2011, a 17% decrease. This means a somewhat lower selection for buyers, but should encourage sellers, as they will have somewhat less competition for the sale of their homes.

The median sales price decreased from $185,000 in 1Q 2010 to $173,779 in 1Q 2011, a decrease of 6.1%. This is also down from the median sales price in 1Q 2008 of $204,714, an overall decrease of 15.1% over that period of three years. The explanation for the decrease in the past year may be due to increased activity in sales of lower-priced homes as well as the effect of foreclosures and short sales on the market.

Homes sold in 1Q 2011 at 88.6% of their list price, down 2.0% from the 90.4% figure in 1Q2010.

Some positive economic indicators:

The average interest rate nationally in March was 5.11% on a 30-year fixed loan.
National unemployment dropped to 8.8% in March.
Private job growth locally has increased for 13 consecutive months.

This is a terrific time of year to visit Charleston’s Ashley River Historic District! The road traveling through this area is Ashley River Road, a National Scenic Byway, also known as SC Highway 61. This is a two-lane road with huge oak trees on either side of the road, often covering over the entire road with their shade. As you drive out Highway 61 towards Summerville, there are three magnificent old plantations to be found. The first is Drayton Hall, one of the finest surviving Colonial houses, and is on the National Register of Historic Places. This outstanding example of Georgian-Palladian architecture was constructed beginning in 1738, and is the only historic home on the Ashley River to survive the American Revolution and the Civil War. It is virtually unrestored from the original and is open to the public. About a mile up the road is Magnolia Plantation and Gardens, which was founded by the Drayton family in 1676. This has been open to the public since 1870 and is the oldest public gardens in America. The gardens are incredible at this time of year with the azaleas in bloom, and don’t miss the Audubon Swamp Garden and the Petting Zoo for the children. As you travel about four more miles out Ashley River Road, you will come to Middleton Place, which is also on the National Register of Historic Places. Henry Middleton began to create what is now the oldest landscaped gardens in America in 1741. This is truly a magnificent place to visit, especially in the spring with the flowers blooming. The house museum is the only surviving building of the original three-building residence built in 1755, and was restored following the Civil War.

I live in Shadowmoss Plantation, which is just 1.5 miles from Drayton Hall. This is a wonderful place to live in Charleston, in a golf course community so close to historic gardens and homes.

A recent news story on foreclosures indicated that the number of properties repossessed by banks increased by 13% between February and March, 2011, which was the highest increase in a year. The number of homes in default also continued to increase. Some estimates are that up to five million borrowers are behind in their mortgage payments by at least two months. Economic conditions contributing to the continued foreclosures include continued high unemployment, falling home values and tougher standards for home loans, and a weak housing market.

Due to these conditions, the current housing market is truly a buyer’s market, as there is an excess of inventory of homes on the market.  Additionally, the mortgage interest rates are still at near-record lows, affording you the opportunity to purchase the home of your dreams for lower payments than you might expect.  Foreclosures are homes that are now owned by banks or mortgage companies after the owner was unable to continue making mortgage payments.  Short sales are homes that are in pre-foreclosure where the private owner is trying to sell the home for less than is owed on the mortgage.  These are often opportunities for a buyer to get a home at below-market pricing.  If you are interested in looking at some of these homes, I have been certified as a short sale and foreclosure resource (SFR) and have the knowledge to help you make the right decision.  Please contact me for further information.

Welcome to Inside Real Estate. This is my brand new Real Estate blog. Check back soon for market updates, new houses on the market, etc.