Actual Property Information Briefs for 07.09.22 | Enterprise

A number of brokers from The Cassina Group acknowledged as the very best within the nation

Jimmy Dye


CHARLESTON, SC — A number of actual property brokers from The Cassina Group, Charleston’s innovation-driven actual property firm, had been just lately acknowledged as a number of the greatest within the nation by Actual Developments.

Three people and one staff from The Cassina Group had been named to Actual Development’s 2021 America’s Greatest Actual Property Professionals record, which acknowledges the highest 1.5% of greater than 1.6 million actual property professionals in the USA. A fourth particular person was named to Actual Development’s The Thousand record, which acknowledges the highest 250 particular person brokers within the nation.



Jimmy Dye, Jackie Kelly and Caroline Perkins had been named to the 2022 record, based mostly on their particular person gross sales quantity from 2021. Robertson Allen was additionally acknowledged, rating because the No. 1 agent in South Carolina on The Thousand record for his 2021 gross sales quantity.

Crew Spartana (comprised of actual property brokers Brook Griffin, Patty Riley, Kara Stringer, Kylene Sullivan, and Margaret Todd Truluck) was acknowledged on the 2022 Medium Groups record, rating for each its gross sales quantity and variety of transactions.



“We couldn’t be extra happy with our Realtors who had been acknowledged by Actual Developments this 12 months,” stated Owen Tyler, managing dealer and associate of The Cassina Group. “Our Realtors work tirelessly to offer the absolute best service for his or her clients and shoppers, and we’re ecstatic that this choose group has been honored for his or her efforts.”

The Cassina Group had a record-breaking 2021 with over $586 million in closed gross sales, a very spectacular feat with solely 42 actual property brokers. They’re on tempo for an additional extremely robust 12 months, with over $353.2 million in closed and pending gross sales to date this 12 months.

The agency persistently ranks because the No. 1 boutique agency in MLS by quantity, and the corporate is understood for delivering stronger outcomes by means of modern expertise and constructing lasting relationships.

For extra info on The Cassina Group, go to

File Sale of Two Sullivan’s Island Properties Shut at greater than $10.8M

CHARLESTON, SC – William Means Actual Property introduced the sale of 1773 Atlantic Avenue to a purchaser who additionally bought the adjoining third of an acre, beachfront parcel at a mixed report gross sales value of $10,875,000. This parcel can also be the very best gross sales value for vacant land on Sullivan’s Island within the historical past of the Charleston Regional A number of Itemizing Service (MLS). William Means Realtor, Alex Brener, represented the consumers who’re lifelong beachgoers of Sullivan’s Island. The household intends to maintain the vacant oceanfront parcel protected and treasured as an intact seashore compound.

“The actual property market will probably proceed to alter, however the need to dwell within the Charleston space is just not going wherever,” stated Brener. “William Means shoppers are seeking the posh life-style that comes with beachfront houses, and we had been thrilled to ship such a once-in-a-lifetime alternative.”

The house at 1773 Atlantic Avenue has been renovated to incorporate new wiring and plumbing, in addition to kitchen and bathtub cupboards, fixtures, HVAC, home windows, doorways, and a brand new copper roof. In an ideal location, the island visitors is minimal, and the very best eating places are only a brief distance away. The home has a non-public walkway over the dunes to the Atlantic Ocean which yield views from the entrance porch and enormous higher deck.



“Sullivan’s Island gives a real escape to each residents and guests alike with its pristine seashores and powerful sense of group,” stated Drew Grossklaus, Gross sales Director and East Cooper Dealer-in-Cost for William Means. “It’s at all times a pleasure for William Means to help shoppers to find their slice of the Lowcountry, whether or not or not it’s an oceanfront oasis, a historic house downtown, or someplace in between.”

As one of many oldest actual property firms in Charleston and an unique affiliate of Christie’s Worldwide Actual Property, William Means Actual Property has bought greater than $205 million in actual property to date this 12 months.

Go browsing to study extra about William Means Actual Property or name 843-577-6651.

Charleston Noticed 8.8% Enhance in House Building Worth Since Final Yr

After a two-year frenzy through the COVID-19 pandemic, the residential actual property market has begun to indicate indicators of slowing down this spring and summer time. Mortgage charges are on the rise, and purposes for house loans are down year-over-year. Housing stock on the market is rising, and sellers are displaying extra willingness to decrease their asking costs.

Whereas there are latest indicators that the market is balancing out, the final two years introduced unprecedented development in house values, to the advantage of present homeowners and homebuilders. With low rates of interest, homebuyers had been capable of borrow extra money and pay extra for houses. This despatched costs to report ranges. And with values ​​rising shortly, builders have rushed to construct housing: the variety of models at present underneath development is at its highest stage for the reason that Nineteen Seventies.

The worth of recent residential models has already been on a gradual upward trajectory for the reason that collapse of the housing bubble and ensuing Nice Recession within the mid-2000s. After bottoming out at round $95 billion in 2009, the annual worth of recent housing models almost tripled over the subsequent decade to $280 billion in 2019. However this development accelerated even additional through the COVID-19 pandemic, with new models valued at $307 billion in 2020 and leaping to $380 billion final 12 months.

The spike in new house values ​​got here amid a interval of traditionally low rates of interest because the US Federal Reserve tried to stimulate the financial system through the COVID-19 pandemic. Because the central financial institution of the US, the Fed’s financial coverage strikes have an effect on how a lot it prices different banks—and in flip their clients—to borrow. The Fed despatched its efficient federal funds charge to close zero early in 2020 and saved charges low for the subsequent two years. However now, with persistent inflation broadly affecting each nook of the financial system, the Fed has begun to lift rates of interest to tamp down borrowing and funky the financial system, and extra will increase are on the horizon this 12 months. As prices to borrow improve, fewer homebuyers will search mortgages, and financing for brand spanking new development initiatives will develop into costlier.

Home Building Graph

Whereas rate of interest hikes are more likely to cool demand and gradual the tempo of house value will increase, the Fed’s latest strikes can’t remedy the housing market’s extra basic provide challenges. In line with researchers at Freddie Mac, the US had a 3.8 million-unit deficit of housing provide in 2020. And with labor shortages and elevated materials prices through the pandemic, new development initiatives might take longer or value extra to finish.

Some places, nonetheless, are investing extra in new residential development than others in comparison with the identical time final 12 months. Massachusetts—some of the costly states for housing attributable to low provide—noticed the worth of recent residential housing permits improve by greater than a 3rd from the primary months of 2021 to the identical interval in 2022. One other high-cost state, Hawaii, had a rise of 28.2% over the identical span. And on the metro stage, main cities in lots of elements of the US are including 1000’s of recent models value a whole bunch of tens of millions of {dollars}.

To find out the metros with the most important will increase in house development, researchers at Building Protection analyzed the most recent knowledge from the US Census Bureau’s Constructing Permits Survey. The researchers ranked metro areas in keeping with the worth of residential housing permits approved from January by means of April of 2022 in comparison with the identical interval in 2021.

The evaluation discovered that the Charleston metro space skilled an 8.8% improve within the worth of recent residential housing models through the research interval, in comparison with the nationwide improve of 8.4%. Here’s a abstract of the info for the Charleston-North Charleston, SC metro space:

• Share improve in worth of recent residential housing models: +8.8%

• Complete improve in worth of recent residential housing models: +$59,089,000

• Share improve in new residential housing models: -1.5%

• Complete improve in new residential housing models: -43

For reference, listed here are the statistics for your complete United States:

• Share improve in worth of recent residential housing models: +8.4%

• Complete improve in worth of recent residential housing models: +$10,209,990,000

• Share improve in new residential housing models: +4.4%

• Complete improve in new residential housing models: +24,958

For extra info, an in depth methodology, and full outcomes, yow will discover the unique report on Building Protection’s web site:

Ok. Hovnanian Properties pronounces new Vice President of Land Acquisition, Southeast Coastal Division

Ok. Hovnanian Properties has a brand new Vice President of Land Acquisition for its Southeast Coastal Division, Paul Michael. Paul continues his noteworthy profession in land acquisition and improvement as he joins Ok. Hovnanian Properties. With over 30 years of expertise within the business, he has labored to help nationally acknowledged homebuilders within the southeast in a wide range of positions.



In his position as Vice President of Land Acquisition, Paul will give attention to development alternatives and land acquisition for Ok. Hovnanian Properties because it continues its growth in South Carolina and Georgia and its mission of building high-quality neighborhoods that includes superior house designs and providing a related life-style for owners. Paul could be attain by electronic mail at [email protected] or by cellphone at 770-356-6864.

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