Real Estate News — Real estate runners raise money to battle breast cancer; Charleston area home prices continue to bounce back after crisis
•Daniel Island’s real estate wing brings in four-figure share from “cure” race•
The combined feat of three groups affiliated with Daniel Island operations raised ample sums of money in the race to defeat breast cancer.
The Oct. 19 team for Race for the Cure included employees at Daniel Island Real Estate, the Daniel Island Co. and the Daniel Island Club. They brought in $5,139 for the Komen Lowcountry affiliate.
Funds collected include a matching donation from Daniel Island Co.’s Employee Advised fund. The employee fund amasses charitable contributions primarily through payroll deductions from company and subsidiary workers.
Throughout the year, an advisory committee reviews requests for contributions to nonprofit groups that were suggested by company employees.
“I want to thank our amazing team this year with their fundraising efforts,” says Nichole Orvin, team captain for the Daniel Island Komen effort and operations manager at Daniel Island Real Estate.
Top fundraisers consisted of Amy Moyer, Daniel Island Co.; and Michael Steele, Daniel Island Club. “However, many of our team members surpassed their personal goals this year,” she says.
Orvin thanked the Employee Advised Fund for providing a sum of money that matches the race fund-raising results. “We are hoping to have a larger team next year and to raise even more money for this worthy cause,” she says.
Daniel Island Real Estate also takes part as an official sponsor of the Komen Lowcountry Race for the Cure. The business provides more than $7,500 a year in cash and in-kind support. Daniel Island first hosted the race 11 years ago.
“The event turns the island into a sea of pink, as breast cancer survivors, family members and other participants proceed from downtown Daniel Island, through the neighborhoods and back to the Family Circle Tennis center,” according to Julie Dombrowski, media relations chief for the Daniel Island Co.
The race becomes “a morning full of emotions and determination to find a cure for the disease that affects so many women and men across the country,” she says.
“We are so proud to have the Komen Lowcountry Race for the Cure as one of the signature events on Daniel Island each year,” says Rick Vale, vice president of sales for Daniel Island Real Estate.
“We love seeing the town turn pink during the month, and especially on race day, in the spirit of finding a cure,” he says. Pink is the designated color of Breast Cancer Awareness month in October.
Daniel Island Real Estate cites itself as the market leader for island home sales, participating in more than 3,000 transactions since it launched in 1996.
The real estate venture also possesses the largest inventory of residential property on Daniel Island, including new and resale homes, homesites, townhomes and condominiums.
An affiliate of the island’s master developer the Daniel Island Co., the real estate company works from 101 River Landing Drive waterfront sales center. Visit www.danielisland.com for more information.
•Homes.com: Charleston area price rebound reaching new heights•
Based on a national researcher’s figures, residential costs in metro Charleston have bounced back steadily from lows reached during the depths of the housing crisis.
Charleston area home prices peaked in April 2007 at 165.53, according to the Local Market Index for August from real estate information company Homes.com.
The region’s “peak to trough decline” amounted to 34.33 index points, a fall to 131.20. From the time costs hit bottom, local home prices have rallied 44.9 percent to a 146.61 index, according to Homes.com’s Rebound Reports.
The steepest rebound through August among metro areas took shape in Billings, Mont., up 305.33 percent while the shallowest recovery inflicted Port St. Lucie, Fla., with just a 12.39 percent increase from its trough.
Homes.com says the country as a whole continues to recover from the late 2000s and early 2010s housing slump.
According to company-provided figures for the period ending August 2013, “even the hardest hit areas are on the road to recovery.” Homes.com releases the reports once a month “to gauge the current state of the housing market.”
Homes.com’s Rebound Reports showcase how the housing recovery process is unfolding across the country. According to the report, 77 out of the 300 metro markets measured “showed a complete price recovery from the peak-to-trough decline amount attributable to the housing bubble,” the company says.
“We found the effects of the housing boom-bust lingering in some areas because of the instability they suffered and the long, steep price slope needed for rebound. Yet other markets that did not experience the bursting bubble to the same degree are in a better position to take full advantage of the recovery. Their prices are appreciating faster, and they are rebounding earlier,” says Brock MacLean, executive vice president of Homes.com.
“The important thing to realize is that all markets are in some form of recovery, and different factors contribute to recovery scenarios across the country,” he says.
•Agent signs on with Keller Williams west of the Ashley•
Solid training, technological enhancements and corporate integrity lead Laura Munn to join a national real estate firm’s Charleston office.
Munn, a real estate sales professional, works from the West Ashley Market Center of Keller Williams Realty.
According to the agency, she brings an abundance of real estate knowledge and a strong customer service background.
“We are truly lucky to have Laura join us here at Keller Williams West Ashley,” the center’s “team leader” Christina Mackrill says.
The agency provides associates with “unparalleled” career growth and lifelong learning opportunities in real estate. “We know that Laura will be a great fit,” Mackrill says, adding that customers will benefit from Munn joining the office.
“I chose Keller Williams Realty because of its reputation for integrity and its agent-centric business model,” Munn says. “I want to grow my real estate business,” she says “and Keller Williams Realty provides the training and technology that will help me reach my goals.”
J.D. Power and Associates in 2012 ranked the national realty highest in “customer satisfaction among home buyer and seller segments.” To learn more, call Mackrill at 843-737-6780 or visit www.kwsellscharleston.com.
•Foreclosure inventory plummets in South Carolina through early fall•
Home ownership cases in September that could lead to property holders losing their residences trended downward again nationally and in the state.
Separately, the list of “completed foreclosures” – those in which people actually vacate their houses to lenders – sank 39 percent nationally in September from a year earlier. The total fell to 51,000 from 84,000, according to CoreLogic analytical company.
In the past year through Sept. 30, completed foreclosures totaled 636,670 nationwide, or 2.3 percent of all outstanding mortgages, CoreLogic figures show. South Carolina ranks seventh among “judicial foreclosure” states with 9,234 completed foreclosures through September, just a smidgen of the national total.
From the time the financial crisis began in September 2008, about 4.6 million homes have been lost to foreclosure across the country, according to CoreLogic.
The “foreclosure inventory” – which tallies the number of houses in some state of foreclosure whether legal proceedings, short sale or repossession – also declined in the U.S. and South Carolina in September, each posting 2.3 percent rates of all mortgages. The shares nationally and in the state each were off 1 percentage point from 2012.
As of September, roughly 902,000 homes in the U.S. were in some stage of foreclosure compared with 1.4 million a year before. The year-over-year decrease works out to 33 percent.
“The foreclosure inventory continues to decline, now standing at an early 2009 level,” says Mark Fleming, chief economist for CoreLogic.
But he also sounds a warning. “Just over 900,000 properties remain in the inventory, two thirds of them in judicial states where the foreclosure process is typically slower.
“Consequently, the pace of overall improvement in the inventory will slow down and distressed assets will cast a long shadow over housing markets in states with judicial foreclosure,” he says.
More positive news stems from seriously delinquent mortgage figures. Nationwide, 5.2 percent of home loans were considered seriously delinquent with payments 90 days or more past due. The South Carolina seriously delinquent rate was 4.9 percent. Both totals are getting lower.
According to Anand Nallathambi, “The number of seriously delinquent mortgages continues to drop across the country at a rapid rate, with every state showing year-over-year declines in foreclosure inventory.
“We’re not out of the woods yet, but these are encouraging signs for a return to a healthier housing market in the U.S,” says Nallathambi, president and chief executive of CoreLogic.
The states with the highest number of completed foreclosures in the 12 months ending in September were Florida , at 115,000; California, 52,000; Texas, 43,000; Michigan, 40,000; and Georgia, 39,000. The five states accounted for close to half of all completed foreclosures across the country.
Five places with the lowest number of completed foreclosures in the past year were District of Columbia, 52; North Dakota, 454; Hawaii, 490; West Virginia, 521; and Wyoming, 719.
By state, the highest foreclosure inventories were found in Florida, 7.4 percent; New Jersey, 6.5 percent; New York, 4.8 percent; Maine, 4 percent; and Connecticut, 3.7 percent.
At the same time, the lowest share of foreclosure cases were Wyoming, .4 percent; Alaska, .6 percent; North Dakota, .7 percent; Nebraska, .7 percent; and Colorado, .7 percent).
•Publication picks Cassina Group among top performing companies•
At least in terms of sales, a Mount Pleasant-based real estate firm ranks among the top 20 statewide.
The annual SC Biz News event, the “Roaring Twenties,” selected The Cassina Group among its 20 top-performing companies for 2013. The organization held a winners’ event last week in Columbia.
“We are flattered to have been included in this exclusive list of top-performing companies,” said Jimmy Dye, co-founder of The Cassina Group. “Our company has grown every year since its founding, and we are excited to continue this positive trajectory.”
Dye and Robertson Allen formed The Cassina Group in 2006. In seven years, the firm has grown to 16 general brokerage agents and four buyer’s agents.
Company sales this year of 315 transactions and a total volume of more than $129 million already exceed 2012 totals, the publication says. Cassina Group holds two offices in the Charleston area, including one in Mount Pleasant and one in downtown Charleston.
The Cassina Group placed 11th in the list of top 20 small companies in the state.
According to co-founder Allen, “2013 has been an incredibly productive year for us. We attribute the majority of our success to our wonderful clients and hard-working full-time agents, and we are thrilled to have been recognized.”
According to SC Biz News, the annual Roaring Twenties event distinguishes the states’ best performing companies. Findings are based on both dollar and percentage increases in revenue for the past three years, the group says.
For more information, visit the company website at www.TheCassinaGroup.com.