Real Estate News

Locally based Sabal Homes rolled out a new residence at 416 Eliston St. in Carnes Crossroads (Provided).

Look for a burst in home building at one of the larger master-planned communities in Berkeley County.

The activity, Carnes Crossroads backers contend, will broaden the neighborhood’s visibility at U.S. highways 17A and 176.

“Within the next 30 days we expect to see more than 20 new homes, currently in various stages of planning, begin to go under construction at Carnes Crossroads,” neighborhood marketers say. “This will dramatically change the landscape in St. Thomas Park, our first neighborhood.”

According to the community, close to 100 residents live at Carnes Crossroads now. “Homes have continued to sell quickly. We look forward to the addition of new home options and new residents in our first neighborhood,” marketers say.

Separately, John Wieland Homes joined the Carnes Crossroads builder team. The “award-winning” national builder will show off new home designs from its Signature Portfolio’s Artisan Collection. According to the community, the Lowcountry’s charm inspired the designs.

John Wieland homes are styled for top-notch contemporary living along with options and upgrades to allow buyers “to shape their new home to fit their individual needs.”

Meanwhile, Sabal Homes intends to roll out three new plans at Carnes Crossroads “that offer highly-requested features like gourmet kitchens, outdoor living space and ample storage.”

The new Sycamore, Seagrass and Oleander plans are all priced below $300,000. Sabal Homes now offers eight traditional home plans in St. Thomas Park.

A Summerville neighborhood known for its grand oaks, still waters and an historic home wants its residents to take pictures of the idyllic sites.

Kolter Homes at The Ponds has teamed with the Lowcountry Photography Club for a photography event through June 14. For details, go to www.lowcountryphotoclub.org/the-ponds.html.

The competition boasts $3,500 in prizes including a $1,000 grand prize.

According to developer Kolter Homes, residents of The Ponds and photographers from Charleston, Dorchester, Berkeley and Colleton counties can take part. Both professional and amateur photographers are invited to enter.

“During the term of the competition registered photographers are invited to capture images of their friends or family enjoying the more than 1,000 acres of preserved lands, featuring walking and biking trails, historic Schultz Lake, and a picturesque restored farmhouse,” Kolter Homes says. There are two categories: Lifestyle and Nature.

Kolter Homes, headquartered in Palm Beach County, Fla., says it brings more than a decade of experience in homebuilding to each of its neighborhoods throughout the Southeastern United States.

For more about Kolter, visit www.kolterhomes.com/aboutus.

Dignitaries gathered March 26 in Mount Pleasant to ceremoniously christen a type of development that hasn’t enjoyed a ground breaking locally since 2007.

Promoters say Tides IV, located on Wingo Way near the Ravenel Bridge, is the first luxury condominium building to begin construction in the Charleston area in eight years, before the national housing slide and recession of the late 2000s.

With work just underway, developer East West Partners pre-sold 13 residences for an average price of $930,000. A penthouse condo topped sales at $2.2 million, “a top-3 transaction all-time in Charleston in terms of price per square foot,” according to marketers.

Developers expect construction of the 54-residence building, distinguished by its waterfront views, to wrap up in summer 2016. They intend to release 10 more residences for sale early this month.

East West Partners’ top managers in the state joined town of Mount Pleasant officials, city council members, building associates and even some of the first buyers to scoop piles of dirt to signify the project’s start.

“Today is a milestone for the Charleston real estate market,” says Miller Harper, managing partner for East West Partners in South Carolina. The national real estate development, management and brokerage firm got involved in the Charleston real estate market 15 years ago.

“To put shovels in the ground on a project like this for the first time since 2007 speaks volumes about where the region is at and where East West Partners sees itself in it,” he says.

Tides IV will join three existing mid-rises erected in the East Cooper condo village overlooking Charleston Harbor.

The new building will be designed to “continue the (Tides) tradition of quality,” promoters say. Tides IV will feature open floor plans and large windows “to enjoy the views of the Lowcountry.” Attractions will include a fitness center, marsh-front swimming pool and sizable entrance lobby.

“I like the concept of Tides IV,” says Marilynn Durkee, a Realtor with Classic Charleston Properties and one of the first buyers at the new building.

She says the fourth condo site has high-tech features not available when the development launched in the late 2000s. For instance, plans call for a space-age coffee maker in the lobby.

“It’s a great place,” she says.

East West Partners, in partnership with Charleston Harbor Holdings, took possession of 50 foreclosed condos at Tides in 2012, marketers say. The developer reintroduced the residences to the Charleston market in early 2013; they were sold by last summer.

A residential developer for more than 25 years, East West Partners also locally joined a development team a decade ago to craft and sell the “highly acclaimed” One Vendue Range luxury community along Waterfront Park in downtown Charleston.

For more, visit www.tidesIV.com.

The apartment industry infuses $1.3 trillion in the U.S. economy, creating 12.3 million jobs and housing 36 million residents, a recent national study shows.

Of that, fully $1.4 billion derives from the Charleston area. The new study shows just how much the Lowcountry economy benefited from the rental boom over the past few years, according to the Charleston Apartment Association.

In 2013 — the latest numbers available — apartment construction, operations and resident spending produced $1.4 billion locally and supported more than 16,400 jobs in metro Charleston.

“Charleston’s supply of apartments is expanding at one of the highest rates in the country, and people are renting these apartments at a strong pace,” says Wendy Tucker, Charleston Apartment Association president.

National Multifamily Housing Council and the National Apartment Association commissioned the study, based on research by economist Stephen S. Fuller of George Mason University’s Center for Regional Analysis.

The study looked at spending nationally, by state and in 40 metro areas, including Charleston, the local apartment association notes.

The greater Charleston section of the study broke down economic contributions, including:

- Renter spending contributed $998.7 million to the local economy.

- Apartment construction totaled $190.4 million.

- Operations racked up $229.1 million.

- Apartment construction and operations supported $145.5 million in personal earnings for local workers.

“Here in Charleston, we’re feeling the positive economic impact of the booming apartment industry, which is helping our area thrive,” Tucker says.

Statewide, the apartment industry’s economic impact was $6.3 billion and 68,400 jobs.

“The construction for multifamily apartment buildings is a significant and growing source of economic activity, jobs and personal earnings in communities nationwide,” George Mason economist Fuller says.

“In 2009, during the economic recession, there were only 97,000 construction starts, which was the lowest level since records began in 1964. In comparison, there were 294,000 construction starts in 2013 — a significant increase,” says Tom Beaton, senior vice president of management for The Dolben Co. and National Apartment Association chairman.

“Besides all the dollars and jobs, the increase of available apartments will also help address affordability challenges that we see in many markets across the U.S.,”

says Daryl Carter, chief executive of Avanth Capital Management and National Multifamily Housing Council chairman.

For more including a breakdown of the Charleston study, visit www.WeAreApartments.org or go to www.nmhc.org or www.naahq.org.

Home perusers can traipse through a host of houses today in an ecofriendly barrier island community while enjoying snacks on the way.

Indigo Park’s “Easter weekend on Kiawah Island” will take place noon-3 p.m. with a “tour of houses … and cupcakes,” marketers says. The tour starts at 113 Halona Lane.

For more, contact Middleton Rutledge with Daniel Ravenel Sotheby’s International Realty at 843-345-9137 or MRutledge@DanielRavenel SIR.com; or Dyal Compass at 646-568-2477 or info@dyalcompass.com.

A “growing boutique firm” with ties to Daniel Island recently welcomed two broker associates with varied backgrounds.

Jordy Schaffner and Jimmy Kaiser joined Charleston Preferred Properties, which describes itself as an experienced general brokerage firm that represents residential property buyers and sellers locally.

Schaffner, the firm says, is “a seasoned Charleston real estate professional” with more than 14 years’ experience.

The associate has a sales background with an established residential and commercial brokerage firm in downtown Charleston; a “Fortune 500 homebuilder, where he was … the company’s top producer within South Carolina;” and at Daniel Island Real Estate, in which he was a Realtor of Distinction and East Cooper Top Producer.

Schaffner, who brings a well-rounded background in real estate, also plays active roles with groups such as First Tee of Charleston, the Charleston School of Business, Charleston Digital Corridor and College of Charleston alumni organizations.

Kaiser spent 20 years in executive leadership positions for various nonprofit ministry groups, helping individuals and families in need, the agency says.

He “brings dynamic experience that has long been centered on service and relationships.” His professional experience also includes medical sales and fundraising.

“Along with a vast local network, he brings a wealth of knowledge about Charleston area schools, churches and neighborhoods and the diverse medical facilities and services available in the Lowcountry,” according to Charleston Preferred Properties.

The agency credits founding partners and long-time Charleston real estate veterans Frank Brumley and Matthew R. Sloan for assembling “a team of talented broker associates who draw upon a careful and comprehensive analysis of market facts and property data to ensure that the individual needs of each client are met.”

Visit www.charlestonpreferredproperties.com.

The share of local homes that lenders took steps to repossess at the tail end of 2014 dropped to some of its lowest levels in years.

Foreclosure rates in metro Charleston-North Charleston fell to 1.51 percent of outstanding home loans in December 2014, off 0.91 percentage points from 2.42 percent a year earlier.

National analytic researcher CoreLogic supplied the figures.

The number of Charleston area mortgages in which payments are seriously delinquent sank as well. Just 3.8 percent of home loans were 90 days late or more in December compared with 5 percent the year before — a 1.2 percentage point drop.

While the local foreclosure and delinquency shares dipped substantially, they still remain slightly ahead of state and national rates.

South Carolina’s foreclosure rate was 1.44 percent in December, down from 2.18 percent a year ago; and the national rate was 1.47 percent, off from 2.16 percent 12 months before.

The state delinquency share dwindled to 4.01 percent as of December, down from 4.96 percent a year earlier. Nationwide, the delinquency rate hit 4.06 percent at the end of last year, off from 5.12 percent in the last month of 2013.

Laurie Loparo and Lynn Barber are among the latest associates to move to a Florida real estate agency that chose Charleston for its first jump to another state.

A long-time South Carolina resident, Loparo brings “good listening skills and a strong work ethic,” Golden Bear Realty says. Her skills include assessing the needs of others and helping them achieve their goals, the company says.

Loparo counts a number of professional designations, notably Graduate Realtor Institute, Accredited Buyers Representative, Short Sale Foreclosure Resource and Military Relocation Professional.

She also earned the “Rising Star” designation in her first year of business and has been recognized as a Realtor of Distinction.

Barber, too, relocated to South Carolina more than 19 years ago and has ample background in “helping her clients buy and sell real estate.” She holds a psychology degree from the University of South Carolina.

Having lived in Texas for 17 years, Barber brings “personal experience with moving to a new state and getting herself established,” Golden Bear Realty notes.

Barber’s known for her commitment to clients, integrity and striving for excellence, the agency says. In 30 years as a real estate agent, she’s earned Realtor of Distinction 14 of 16 years in Charleston, the Ace Master of Sales award and Prism awards for new construction sales.

Golden Bear Realty opened an office in Mount Pleasant last year.

Visit www.goldenbearrealty.com.

A veteran in the numbers-crunching world recently signed on with Century 21 Properties Plus in its Mount Pleasant office.

Kimberly Mosher will specialize in residential property sales in the Charleston area, according to the agency.

“I am so thrilled to work for Century 21, a company that is highly respected all over the globe,” she says. “They provide cutting edge tools and technology that are unique and invaluable in assisting both the agent and their clients in home buying and selling.”

Mosher earned a bachelor’s degree in business and accounting from Eastern Nazarene College in Boston, then received a masters’ degree in accounting and finance from Marymount University in Arlington, Va.

Mosher “used her extensive education” to land a job and work as an accountant for Software Productivity Consortium in Herndon, Va., for 15 years, Century 21 Properties Plus notes.

She and her husband, Larry, live in Park West with their two children, Samantha and Austin.