Real Estate News — Builder nurtures Tupelo Forest in upper Mount Pleasant; Prudential Southern serves armed forces with housing needs
•Ryland Homes neighborhood to open north of Wando High•
The first value-priced homes in an East Cooper community named for lowland woods will emerge soon, the builder says.
National company Ryland Homes says it’s kicked off construction of single family homes at Tupelo Forest. Houses will be priced from the $240,000s. The neighborhood stands at U.S. Highway 17, just north of Wando High School in Mount Pleasant.
Ryland Homes intends to frame 58 three- and four-bedroom homes in Tupelo Forest’s first construction phase, says Gayle Jinks, vice president of sales and marketing for the company’s Charleston-Myrtle Beach division.
Eventually, Ryland Homes plans to build up to 114 new homes at Tupelo Forest in a variety of shapes and styles. Jinks says the homes range from the three-bedroom, two-bath Sumter II model at 1,554 square feet to the 3,621-square-foot Whitmire II floor plan touting four bedrooms, three full baths and a half-bath. Tupelo Forest promotes two-car garages among its list of standard home features.
Ryland Homes currently builds single family homes in seven neighborhoods in metro Charleston and the Myrtle Beach area.
For more information, call Jinks or Don McDonough, division president for Ryland Homes in the Charleston/Myrtle Beach region, at 843-375-5555.
Headquartered in Southern California, Ryland is among the country’s largest homebuilders. It operates in 14 states and has built more than 300,000 homes since its founding in 1967.
For more information, visit www.Ryland.com.
•Local agents boast Realtors designation as military relocation pros•
Jana Bantz and Lisa Maynor educated themselves this year on the best ways to help service personnel and veterans look for places to live or to sell their homes.
The agents, of the Jana Bantz and Associates team with Prudential Southern Coast Real Estate, each earned certifications as Military Relocation Professionals.
The National Association of Realtors confers the widely recognized designation on agents who seek to assist military personnel and veterans in securing homes that best fit their needs.
An example: The agents gain training on how to help vets and active duty servicemen take “full advantage of their military benefits,” the Realtors association says, adding that Realtors grasp the fine points of working with active duty military buyers and sellers as well as veterans.
“Home ownership is one important part of the fabric of America,” says Linda Collins, broker-in-charge of Prudential Southern Coast Real Estate.
“Working with Realtors who understand specific needs and timetables related to military service will provide our military transferees an easier, faster and less stressful move,” she says.
Prudential Southern Coast Real Estate provides relocation services throughout Berkeley, Charleston and Dorchester counties.
For more information, contact Bantz at 843-261-5262 or Jbantz.firstname.lastname@example.org or reach Maynor at 843-261-5262 or Lmaynor.email@example.com.
•Charleston Preferred Properties: Local real estate market looking up•
The figures stood like a wall: seemingly unassailable home price and sales numbers from 2006 and 2007.
As the housing recession hit the Charleston area and even as it recovered, economists would note how sales and prices stay below pre-slump levels of six and seven years ago.
Now, those pinnacles are starting to be eclipsed.
“By the end of 2013, there will likely be more than 13,000 Charleston real estate transactions, the most since 2006,” according to Charleston Preferred Properties’ periodic economic update.
The median sale price for single-family homes in metro Charleston is moving upwards and has already exceeded the ranges seen in 2006 and 2007, the company says.
Based on a Charleston Trident Association of Realtors graphic supplied by the real estate firm, median sales prices rose steadily from $154,500 in 2001 to $218,000 in 2007. From there, prices cascaded to $192,500 by 2009 and did not totally turn the corner until 2012 when values reached $205,700. After a sluggish first quarter 2013, median prices jumped up to $227,000 at the end of September. Adding to the positive growth signs, “new construction activity is at its highest level in the past half-decade,” and vacant land and condominium sales have reached normal supply and demand levels, Charleston Preferred Properties says.
The Daniel Island-based real estate agency acknowledges it’s too early for a detailed year-end analysis “but (it’s) safe to say that Charleston is now experiencing a healthy and stable market.”
Charleston Preferred Properties foresees the “health and prosperity of the real estate market” to continue into 2014. At the same time, “those looking to buy should keep a close eye on interest rates.” According to the firm, next year should be the time rates rise out of the “abnormally low range” they’ve been in for the past several years. “Three percent mortgage rates are gone for good; It won’t be long before 4 percent mortgage rates will be, too,” the company notes.
•Ormson joins Charleston area affiliate of nationwide real estate company•
Century 21 Properties Plus has brought on the owner of a property repair company and former auto sales professional as a residential agent.
Boomer Ormson will specialize in home sales in the Mount Pleasant area.
“We are thrilled to have Boomer join our team,” says Tim Rash of Century 21 Properties Plus Inc.
Ormson, a sales associate, completed extensive training and licensing through the Real Estate School of Charleston.
He owns a small business, Mount Pleasant Property Repair. And he previously worked in the auto sales business for more than 15 years, including seven years with Mercedes-Benz.
Ormson and his wife Devon live in Park West with their two children, Keanau and Jansen.
The agent’s work experience in sales and property repair “will allow him to offer even better service to his clients,” according to Century 21 Properties Plus. “I’m stoked about starting my new career in real estate,” Ormsen says.
Adds Rash, “We believe training supports growth and professional excellence in the real estate industry. Performance-based training is necessary to assure that Century 21 associates maintain their competitive edge and offer the best service possible to their clients.”
•New indoor cycling studio to take space at Elan building downtown•
Busy professionals who don’t always have the time or chance to ride bikes outside can take fitness workouts indoors at 441 Meeting St.
CHS Revolution indoor cycling studio soon will open in the first-floor retail section of Elan Midtown on Charleston’s peninsula.
Greystar Real Estate Partners heads up the development of Elan Midtown, a 200-apartment-home boutique midrise on the corner of Meeting and Spring streets.
According to Greystar, the Revolution studio will offer classes suitable to all levels of fitness and experience. Music playlists and theatrical lighting accompany the high-intensity classes.
“Revolution is an exciting product and we are honored to bring their flagship location to Elan Midtown and to our residents,” says Todd Wigfield, managing director of development for Greystar.
“The innovative programming and team make for an exceptional addition to our development,” Wigfield says. The studio will complement amenities already in place “to make for a luxury residential experience.”
Revolution co-owners Lindsay Rodbell and Eric Feather moved to the Charleston area from Manhattan to open the studio, Greystar says.
The pair and their business partner, Nick Oram, plan to set up additional studios across the country once opening the flagship Charleston spot. Oram ranks as a top fitness trainer with a large celebrity following.
“Revolution will become the leader in the indoor cycling movement,” Oram says. “It’s a full-body workout with intensity and is driven by music. We are a method, we are a community, we are a revolution.”
The Revolution studio will account for 2,228 square feet of the 7,000 square-foot retail space at Elan Midtown. The 222,000-square-foot luxury apartment community should be completed this fall. Urban apartment-homes feature studio, one bedroom and two bedroom floor plans. Meanwhile, first floor retail space will provide extra amenities and services to residents, according to Greystar.
Elan Midtown earlier disclosed the lease of 1,200 square feet to Edward Jones financial investment firm and 1,200 square feet to Bull Street Gourmet & Market upscale eatery and food market.
For more information, visit www.elanmidtown.com.
•Carolina One links up with Dove for second time•
A one-time Realtor with Carolina One Real Estate Services has returned to the company’s Trolley Road office after five years with a home builder.
Summerville resident Sarah Dove joined Carolina One as Realtor in 2001. Two years later, she left the real estate agency to become area sales manager for Portrait Homes.
During her stint at Portrait from 2003 to 2008, she managed new neighborhoods in the Charleston area and as far as Bluffton. She was involved in sales and marketing at Oak Bluff, Coosaw Commons and Grand Oaks Plantation.
Dove, who grew up in North Charleston, spends time outside of real estate working on completing her bachelor’s degree at the College of Charleston in International Studies with a concentration in Latin American relations.
For hobbies, she enjoys hiking, camping and fishing. She also spends time with her two dogs and cat.
Carolina One Real Estate says it leads the metro Charleston market in sales, handling 30 percent of residential transactions as of the end of the third quarter.
The company consists of a full service mortgage division, 11 sales offices and departments specializing in title services, vacation rentals, property management, commercial real estate, relocation, new homes and insurance.
For more, visit the agency’s website at www.carolinaone.com.
•Housing prices rise in Lowcountry, trail national gain in September•
Over a recent 12 month period, metro Charleston outpaced the state but trailed the U.S. as a whole in its rate of home price increase.
The Charleston-North Charleston-Summerville area posted an 8.1 percent boost in home prices in September compared with a year before while rising .1 percent from one month earlier, CoreLogic analytical company reports.
If distressed sales including foreclosed properties were excluded, year-over-year prices would have gained 8 percent while they would have dropped .1 percent from August.
CoreLogic says home prices nationwide shot up 12 percent in the past year as of September, marking the 19th straight month that prices increased year-over-year. Costs rose .2 percent from the prior month.
Excluding distressed sales, home prices increased 10.8 percent in September from a year ago and inched up .3 percent from a month earlier.
South Carolina as a whole lagged the U.S. average in home price gains. Prices rose 7.5 percent in September from a year earlier, or 6.6 percent excluding distressed sales. By comparison, home prices surged 25.3 percent in first place Nevada year-over-year in September, 22.4 percent without distressed sales figures.
CoreLogic also published its Pending Home Price Index, which estimates home price changes for a just completed month — in this case October.
The company says October home prices, including distressed sales, would jump by 12.5 percent year-over-year and .1 percent month-over-month. Excluding distressed sales, the increases would be 11.2 percent in the past year and .1 percent from the previous month.
“September marked the unofficial five-year anniversary of the start of the housing crisis,” says Mark Fleming, chief economist for CoreLogic. “The five-year home price appreciation for all homes in the nation was 3.4 percent. While there is still room for improvement, the CoreLogic HPI is at the highest level since May 2008.”
According to Anand Nallathambi, president and chief executive of CoreLogic, U.S. home prices “continued their ascent in September. Average home prices in nearly half the states are now within striking distance of their pre-downturn pricing peaks,” he says.
“We are seeing a slowdown in the rate of price appreciation over the past few months from the rapid pace experienced over the first half of this year. This deceleration is natural and should help keep market fundamentals in balance over the longer-term,” he says.
•D.R. Horton launches active adult village in Summerville•
A new gated community for on-the-go seniors opened this fall in Dorchester County, and the first homes and lots are being sold.
National builder D.R. Horton intends to raise as many as 55 homes at Carillon at The Ponds. The gated neighborhood will be located within the 1,950-acre master planned Ponds community west of Summerville.
D.R. Horton built its model home, a Bluffton floor plan, three weeks ago. Located at 203 Bateaux Drive in The Ponds, the three-bedroom, two-bath home extends 1,947 square feet. It’s open daily.
Sales model highlights include a bonus room, deck, front porch, covered back porch, two-car garage, five-foot tiled shower in the master bath, stainless steel appliances and quartz breakfast bar in the kitchen.
D.R. Horton will dish out nine floor plans ranging from 1,460 to 2,991 square feet at Carillon at The Ponds. There are ranch or multi-story options, varying from three to five bedrooms. Prices start at $263,900, according to D.R. Horton.
Homeowners at Carillon pay an extra homeowner’s association fee to cover the cost of mowing yards and maintenance of the community’s common areas.
Carillon divides into 55 lots, with seven currently under contract. The neighborhood gears itself to active adults; at least one resident per dwelling must be age 55 years old or above. Additional restrictions may apply; see a D.R. Horton agent for details.
For more information and to view floorplans, visit www.discovertheponds.com or call 877-326-0777.
The Ponds master community sits between the town of Summerville and the Ashley River Historic District. Residents can take advantage of an on-site Summerville Family YMCA, EMS/Fire Station and several community parks.
The Ponds’ residential offerings include new homes priced from the $280,000s to $400,000s, according to the community.
Amenities consist of a pool, outdoor pavilion, 11-acre multipurpose field and a restored historic farmhouse, along with an outdoor waterfront amphitheater and several neighborhood parks. Miles of nature trails connecting to The Ponds’ 1,100-acre nature preserve will be phased in as development progresses.
An early part of the system linking the community trail at the restored farmhouse to hundreds of acres of woods, pastures and ponds is already complete and in service, according to the backers.
Texas-based D.R.Horton, founded in 1978, builds in 74 markets in 27 states. For more information, visit www.drhorton.com/charleston.
To learn more about the Ponds, call 843-832-6100 or visit www.DiscoverThePonds.com.