Real Estate News — Regions Bank hires mortgage officer, housing prices rise at controlled pace in Lowcountry

Reagan Ferguson (Provided).

•Ferguson joins regional bank to handle local home loans•

The Regions Bank mortgage operation in the Charleston area recently expanded its “team” charged with working out the financing details of buying a residence.

Reagan Ferguson signed on with Regions Mortgage as a mortgage loan officer, the company says.

She brings eight years of experience from previous posts at Bank of America Mortgage and SunTrust Mortgage. A Clemson University graduate, she works out of Regions’ Mount Pleasant office at 1200 Two Island Court.

Regions Financial Corp. holds $121 billion in assets and serves customers in 16 states in the South, Midwest and Texas. The company provides consumer and commercial banking, trust, securities brokerage, mortgage and insurance products and services.

For more information, contact Harry Smith, vice president and production manager for Regions Bank in Charleston, at

•Brokerage chooses veteran manager to head Main Street office•

A veteran agent who joined Carolina One Real Estate in the past year has been named to run its center in downtown Summerville.

Hoap “Chip” Reeves III entered the real estate field in 2001. For the prior 16 years, he served as purchasing manager for an auto parts chain’s Charleston area operations, according to Carolina One.

Reeves will be manager and broker-in-charge of Carolina One Real Estate Services’ Summerville Main Street office.

He grew up in Charleston, attended Middleton High School and Clemson University and now resides in Goose Creek.

Reeves’ professional feats cross both real estate and automotive fields.

They include:

• Past president, Charleston Trident Multiple Listing Service.

• Realtor of Distinction, 2004-2012.

• Coldwell Banker “President’s Elite Award” in 2012.

• Charleston Trident Association of Realtors’ professional standards committee member.

• North Area Top Producers Club member.

• Past president, Automotive Parts Association of the Carolinas.

Reeves presides over the Pineland Heights Homeowners Association. He formerly headed the C-15 Hamlets Homeowners Association and Crowfield Little League and co-chaired the Goose Creek Cultural Arts Committee.

Reeves and his wife Karen have been married 26 years. They have two grown children, Chase and Ashlyn, who are Charleston Southern University graduates. The Reeves’ attend Immaculate Conception Catholic Church.

Carolina One Real Estate is the leading residential services firm in the metro Charleston market with 30 percent of residential sales as of June 30.

In addition, the company carries a full service mortgage division; departments specializing in relocation, new homes, commercial real estate, property management, resort rentals, title services and real estate; and 11 offices that handle home sales.

For more, visit the company website at

•Charleston area rental group to hold elections this fall•

A full slate of positions will be open for the local apartment trade group in November, the organization says.

The Charleston Apartment Association sent out a request for nominees to its eight-member board of directors and four-seat executive board. That’s according to the CAA Legislative Pulse, a monthly newsletter designed to keep association members “abreast of topical political news impacting the industry.”

The nominations for 2014-2015 are due to association Executive Katie Chapman at by Oct. 7. Elections will take place in November.

Executive officers include the president, vice president, treasurer and secretary. They must have served on the board at least one time in the past.

Also, the secretary position must be an associate member who works for a company that serves the apartment industry, while the remaining posts are direct members employed with ventures that own or manage apartment home villages.

The board is comprised of three associate and five direct members.

•Indiana native heads up Keller Williams in Charleston area•

A youthful real estate manager who shined during stints in Beverly Hills and Indianapolis has been tabbed as the top officer for Keller Williams locally.

The real estate company named Adam Roach, a tennis player at his alma mater Indiana University, as chief executive officer and business coach for metro Charleston.

According to Roach’s online biography, the Indiana native traveled west after college to Beverly Hills, Calif., where he refined his business and real estate skills.

In 2004, Roach became an equity partner in Beverly Hills Tennis while serving as the youngest general manager in the company’s history. He also earned the Southern California Head/Penn Pro of the Year in 2008.

Meanwhile, Roach and his investment group bought and sold more than $7 million in investment properties 2003-2008.

Roach joined Keller Williams Beverly Hills four years ago, he says, for its entrepreneurial focus and its unparalleled culture.

“KW’s values of God, family, then business spoke to my core,” he says. “Their entrepreneurial spirit and training programs, especially for $25 million and above (sales) agents, is priceless.”

By the end of 2010, Roach won the opportunity to run the most profitable Keller Williams franchise in the Ohio Valley region, according to the company. He lead the brokerage’s Indianapolis Metro North division, increasing the agent count, growing the associates’ productivity through advanced agent training and exceeding profitability expectations.

In June, Roach snagged the chance to head up yet another top-notch Keller Williams market in greater Charleston.

“Adam is an energetic, well-liked team leader with extensive real-life experience in the real estate industry,” says Dennis Barrow, operating principal for Keller Williams. “Team members have come to rely on his steady guidance and creative approach to team-building through his exceptional consulting abilities.”

According to Barrow, the rising executive “believes in dealing with associates on their terms.” Roach, he says, is “patient and supportive with newer agents, and has the wisdom and experience to offer the sophisticated support structure required by more experienced agents.”

•Local broker-in-charge earns investor specialist title•

The co-owner of a Charleston real estate agency not only can market homes for sale but now can help people “build wealth” by investing in houses, buildings and land.

C. Troy Watson of Ashley Cooper Real Estate LLC earned the “prestigious” Certified Investor Agent Specialist designation.

Watson says he completed detailed training to understand the various types of real estate investors, opportunities available, financing options and calculations needed to find solutions.

“For decades, investing in real estate has proven to be a consistent and stable way for individuals to build wealth,” according to Watson, who is co-owner and broker-in-charge of Ashley Cooper Real Estate.

“Real estate investment supports a number of industries including construction, retail and professional service,” he says. It’s also “a strong way to energize and increase investment in our local economy.”

In the past 12 months, investment and second-home properties comprised more than $300 billion in sales, Watson says. The total represented 27 percent of all residential real estate transactions.

Meanwhile, in market conditions affected by mortgage industry “challenges,” 48 percent of investors made all-cash purchases.

He cites five real estate investor profiles: first-time, move-up, portfolio, performance and “rehab and resell” investors.

“As markets face the challenges of distressed properties and a difficult economy, real estate investors have the opportunity to find productive deals while helping communities stabilize,” Watson says. “Investors provide much needed liquidity to the market, decrease vacancy rates, improve neighborhoods and present solutions for homeowners who need to sell.”

According to Watson, the CIAS designation certifies that he received the training to assist Lowcountry residents in building wealth through real estate investment. For more information, visit

New apartment-home community in outer West Ashley holds formal opening

Food, music and tours of the two-bedroom model and ample clubhouse highlighted the Sept. 19 grand opening of Bees Ferry Apartments.

Property manager Michael Silky welcomed guests for the evening drop-in, which featured delicacies from local caterer B Gourmet and tunes by the Williams Duo. City council members Marvin Wagner and Dean Riegel were among those on the list for a ribbon cutting sponsored by the Charleston Metro Chamber of Commerce.

Bees Ferry Apartments, which opened in late summer, sports such high-end features as granite countertops, double-door stainless steel refrigerators, 42-inch espresso cabinets and expansive screened-in patios, backers say.

The clubhouse promotes resort amenities, among them a two-story fitness studio, media room with 110-inch television, heated salt water pool and spa, interactive clubhouse with a dozen TVs, executive conference center and an iMac business center.

A number of key players were involved in the emergence of Bees Ferry Apartments, including:

ports such high-end features as granite countertops, double-door stainless steel refrigerators, 42-inch espresso cabinets and expansive screened-in patios, backers say.

The clubhouse promotes resort amenities, among them a two-story fitness studio, media room with 110-inch television, heated salt water pool and spa, interactive clubhouse with a dozen TVs, executive conference center and an iMac business center.

A number of key players were involved in the emergence of Bees Ferry Apartments, including:

• Charlotte-based Faison developer, which in nine years has bankrolled apartments, townhomes and condos from Washington, D.C., to Florida.

• Dallas-headquartered Riverstone Residential Group, which is the property manager. Riverstone manages three multi-family communities in the Charleston area.

• Studio Fusion Architects, of Charlotte, which is the project architect.

• Summit Contracting Group, of Jacksonville, Fla., the general contractor.

The apartment village stands at 2020 Proximity Drive, just off Bees Ferry Road. For more information, visit To see more photos from the grand opening, go to

•Foreclosure rates continue slide in Charleston area, South Carolina•

The share of homes locally in line to be reclaimed by lenders dropped in July from a year ago, keeping up a trend of lower foreclosure rates in an improved economy.

National analytical company CoreLogic this week disclosed the latest foreclosure figures for the Charleston-North Charleston-Summerville metro area as well as more than 200 other larger cities.

The CoreLogic research shows that Charleston area foreclosures as a share of outstanding mortgage loans stood at 2.87 percent in July, a plunge of 0.98 percentage points compared with 3.85 percent in the same month of 2012.

However, foreclosure activity in Charleston-North Charleston-Summerville placed higher than the national foreclosure rate of 2.43 percent for July and also topped the 2.58 percent rate in South Carolina as a whole. The U.S. share dropped from 3.37 percent a year earlier, and the state total dropped from 3.47 percent in July 2012.

Separately, the Charleston area mortgage delinquency rate decreased. According to CoreLogic, 5.34 percent of mortgage loans were 90 days or more past due compared with 6.74 percent a year earlier, which represents a 1.4 percentage point decrease. The troubled loan total share compared favorably to the U.S. total of 5.44 percent in July, which was down from 6.85 percent a year before; but trailed South Carolina, which had a 5.12 percent delinquency rate in July compared with 6.25 percent a year ago.

For more information, visit