Real estate news | Business
South Carolina counties rank among the best
According to a recent study by SmartAsset.com, South Carolina, ranks first among places across the country that receive “the most inward investment sectors in business, real estate, government and the local economy as a whole.”
The study took into account the number of businesses established in each location for a three-year-old, inflation-adjusted GDP growth in each county, and investment and development in the local residential real estate market. Below is the ranking of Charleston, as well as other counties, in the state.
Rank County Business growth GDP Construction permits Inward investment index (per 1,000 homes) investment index
1 Jasper 14.1% 48 $ 58.2 81.28
2 Berkeley 14.3% $ 234 35.3 65.81
3 Lancaster 11.6% $ 104 39.0 65.43
4 Greenville 7.4% $ 953 29.0 57.12
5 Horror 8.6% $ 644 26.3 55.38
6 York 10.2% $ 371 23.8 54.22
7 Charleston 8.1% $ 990 22.7 53.46
8 Dorchester 8.6% $ 170 22.5 51.22
9 Beaufort 6.6% $ 378 23.1 50.43
10 Spartanburg 7.0% $ 458 22.2 50.42
Residents and visitors to Kiawah Island can prepare for one of the island’s best events, Cars on Kiawah. The popular auto show on Kiawah Island returns on October 16. The popular event was last held in May 2019 due to the pandemic. It attracted 275 classic and vintage cars and 4,000 spectators. The show will take place at Ocean Park on the eastern end of Kiawah Island, adjacent to the Ocean Course, which is home to the recent PGA Championship. The exhibition area will showcase some of the region’s most impressive examples in the history and evolution of automotive design. The organizers report that car registrations have been closed for several weeks and that only pre-registered cars will be allowed on the exhibition grounds.
“We are grateful for the growing interest in Cars on Kiawah and, in particular, the support of our fellow car enthusiasts,” said the co-chair. Bruce stemerman.
Highlights of the show include: A classic Porsche 356, with 30 copies of this model expected; Dr Mike Grosso, a collector of several classic cars; historian Harvey Geiger; a “young enthusiasts” class / special exhibition for children, and more.
Tom Crawford of Lowcountry Live will be the emcee and Sea Island Habitat for Humanity will offer a 1958 Metropolitan for sale with 100 percent of the proceeds going to their mission. Sponsors include Ally Financial and Hendrick Automotive Group. This year’s show will feature nearly 300 unique cars in a beautiful setting. Entrance to the show is free and there is a $ 20 parking fee. The show starts at 10 a.m. and ends at 3 p.m., with food and drink available.
To find out more visit www.carsonkiawah.com. An annual donation from the proceeds of the event is made to the free medical clinic of the barrier islands.
Roni Haskell by Keller Williams provided an overview of the Lowcountry real estate market as of September 28.
“While we still have lower inventory than usual, it is steadily increasing,” Haskell said in a company newsletter. “September has been extremely productive for my team. We were able to help 11 families find housing and place eight additional units on contract – what a month!
There are 1,884 homes for sale in the Lowcountry. The current median house prices are:
• Summerville: $ 337,000
• Goose Creek: $ 285,000
• Coin des Moncks: $ 313,000
• Hanahan: $ 295,000
• North Charleston: $ 285,000
• Mount Pleasant: $ 587,000
• James Island: $ 425,000
• West Ashley: $ 374,000
• Charleston: $ 425,000
• Downtown Charleston: $ 624,000
Source: Roni Haskell, Keller Williams
Housing Market Trends – 2021
According to Timeshatter.com, the housing market represented 17.5% of US GDP in 2020, with 4.2% of the impact on GDP going to construction. According to their research, 13.3% include expenses for rent, utilities and buying a home, for a total of $ 2.8 trillion.
• The total value of the housing market has reached $ 36 trillion.
• There were 6.69 million homes sold until July 2021
• In July 2021, the median total house price reached $ 390,500
• The number of real estate agents increased from 1.11 million in 2009 to 1.53 million in 2021, reaching a record level. Sixty-eight percent of real estate agents are licensed sales agents, 20 percent are brokers and 13 percent are associate brokers.
• There are over 3 million active real estate licensees in the United States, but only 1,534,008 are real estate agents as defined by the National Association of Realtors (NAR).
• The main reasons to buy a house in 2021 are the desire to own a house, a bigger house and to be closer to family and friends.
• In 2021, 88% of buyers acquired a property through a real estate agent or broker. Five percent came directly from a builder or construction agent and 5 percent from the previous owner. Ninety percent of homebuyers would recommend their agent to others.
• Forty-one percent of homebuyers found their real estate agent through referrals.
• Data from the US Census Bureau shows that there were 1,391,000 newly built homes in July 2021, a slight increase of 51,000 housing units from the same period last year.
• Market supply indicates that buyers will continue to fight for homes that will remain priced high for some time.
Economist Matthew Speakman de Zillow said: “Currently, there is less than three months of housing supply on the market, the lowest on record since the turn of the century.”
Rental prices on the rise
A September 27 Housing Wire article cites that rent prices are on track to increase 2.2% by the end of 2021. Moody’s Analytics REIS New York has tracked affordable housing financed by the income tax. low incomes, which fell to 2.5% in the second quarter of 2021. During the quarter, 4,500 new constructions completed increased the affordable housing stock by 0.4%. According to their findings, this remains well below the average number of projects completed in the second quarter since 2016, when nearly 9,000 units hit the market.
The second quarter showed the national average asking rent price at $ 986, an increase of 0.8 percent. According to Moody’s analysis, that figure will rise to $ 996 by the end of the year, an increase of 2.2% year-on-year.
David Caputo, analyst at Moody’s, believes this is a sign that “the affordable housing sector is on track to fully recover from the effects of the pandemic.” To learn more, visit HousingWire.com.
Charleston-based app expands southeast
In June, Neal mccarthy rolled out its app, Pinch, an on-demand app that helps real estate professionals, landlords and tenants access same-day lawn care and home cleaning. At the time, the company had 500 active clients and over 150 pre-selected service professionals. Since then, the company has achieved month-over-month growth with over 2,000 downloads. Its popularity has enabled recent growth in the Florida market. Greg sack comes on board with Neal McCarthy as a company partner.
Sack, a longtime entrepreneur and real estate investor, will oversee the expansion of Tampa, Florida, with plans to increase his presence along the Southeast in 2022.
“Greg brings an incredible wealth of knowledge in both technology and integrated marketing to our team. We know his expertise will add tremendous value as we seek to expand our markets and deliver the best customer experience, ”said Co-Founder Neal McCarty.
Sack added, “In today’s world, people want on-demand services. Customers no longer want to look at suppliers or haggle for quotes, so initially I was intrigued by how PINCH solved this consumer problem. Their network of professional suppliers, coupled with excellent service offerings, only reinforced what I knew was already a need in the market.
Follow them on Instagram at @pinchjob or visit pinchjob.com for more information. The app is free to download on all mobile devices.
Domestic robots are here
This week, Amazon introduced “Astro,” a home robot that can monitor your home with Alexa, stay nearby while you’re at home – just in case you need to, and you can send Astro to check people. or the things in your house. He responds to your voice commands and his pair of round eyes can stare at you and blink. The reason for his cute round eyes is that “95 of mankind’s 100 most beloved fictional robots had eyes,” an Amazon designer said in a Bloomberg article. It weighs around 20 pounds and moves fairly quickly at a meter per second, in addition to spinning around 360 degrees. According to the Bloomberg article, Amazon’s Dave Limp has been running the little boy around his own home for almost a year.
You can ask Astro to bring you the latest in entertainment, make calls, messages, remind you of what you need for your next shopping trip and, according to Amazon, it is “designed to protect your privacy.” “. He can explore on his own, raising a periscope to watch things he can’t do from his two-legged position. You can also tell Astro where he can and can’t go in your house, but he can’t go upstairs. Not yet anyway.
Not everyone can get Astro. It will be “available by invitation only” later this year, will only ship to addresses in all 50 US states, and will cost approximately $ 1,000. This is the introductory price. After that, Astro will set you back $ 1,449.00. Happy Holidays. To learn more about Astro, visit Amazon.com.