All Blog Entries by Todd Covington

This week, I took at a look at the first 2 months of residential sales in 2009 verses the first two months of 2008.  There is no sense is trying to spin everything in a positive way as everyone knows that the economy is hurting, and that certainly includes home sales.  While 2009 home sales are down from 2005-2007 sales, the first two months of 2009 certainly compare similarly to 2008.  The greatest annual difference is that 100 homes sold in the first 2 months of last year to 82 this Jan & Feb..  Although an 18% drop is never good, the drop from Jan/Feb 2007 to 2008 was a horrid 46%.  What that says it that the market has finally stopped the freefall and is more flat than anything else.  I consider that good news as we are now in a waiting game to see

As you can see below are home sales statistics are like many areas in the US.  We have slowed down a bunch and it was almost to a standstill at the end of 2008.  Because I am new this has not affected me like it has long tern agents.  Even so I'm ready to make some money.

While the last couple years have been very tough I see a glimmer of hope.  Without question there are more buyers looking for homes in our area.  My Beaufort SC real estate website has jumped in number of visitors and every local agent I speak with tells me they are busier.  So, have we hit bottom?  My guess is no.  The month of May shouId give us a good indicatiion but the remainder of the year most likely will be flat.  Most indicators point to a recovery in early Spring of 2010. 

Like always, keeping a blog stuffed with interesting things is a challenge.  Today I was looking through some of the Beaufort Market statistics and was shocked to see 50 houses were listed in the Beaufort MLS this week.  A rise in active listings is expected this time of the year.  February is a great time to put your house for sale because the hot real estate season is fast approaching.  Even so, there were only 1580 active listings last week.  If you average that out, 1580 divided by 52 weeks means we should average around 30 listings a week.  Fifty this week comes to a 66% increase.  Pretty impressive, but will buyers bite?

Great question, and I wish I had the answer.  No doubt there are more buyers actively looking for homes.  I've seen a huge

Although 2008 was statistically one of the worst years on record for the real estate industry, ERA Evergreen saw gains in market share and sales on Dataw Island from 2007.  ERA is now the #1 selling real estate company that serves Dataw Island.  These great sales results have benefited Dataw Island in more ways than one.  Not only is the island now open to the entire Beaufort Multiple Listing Service (enabling other agents to sell on Dataw), but for every home or lot that ERA sells, they pay back a 25% referral fee to Dataw Island Club.  Those funds go directly into the Dataw Island marketing fund, which has seen great success in exposing Dataw Island to the world.  "Not only dose the marketing program bring in home buyers and sellers, "says ERA

For a short blog tonight, I thought I might keep everyone up to date on what has happened so far on the Lady's Island SC real estate scene in 2009.  When I put this chart together I was a little surprised at how few homes had actually sold so far this year.  Because closings take anywhere from 20-90 days, the low number are a direct reflection on how slow the end of 2008 was.  While the market is not booming, there is no doubt the amount of buyers looking to buy a home is picking up dramatically.  Most of my peers are busier and I personally have noticed a dramatic increase in website traffic.  Currently, there are 18 homes under contract and you can bet your bottom dollar that will double by March.  Low rates, homes prices SLOWLY coming down, and every

Because I love living here, and I am a Realtor, I have made Cat Island a major focus for my business.  With  that being the case, I try to keep up with the neighborhood home listings as soon as they hit the market. 

On Friday, one of my favorite houses in Olde Tabby Park (a section on the island) went for sale.  11 Governors Trace hit the market priced @ $535,000.  I am excited as this is one of the best homes on Cat and the listing agent did a great job pricing the house.  

So what makes this home so special?  To name a couple:  layout, curb appeal, 3000+ square footage, quality of build, and price.  While 11 Governors Trace has all that, the thing that will sell this house is the lot and location of the lot.  The lot itself is unique because it is

You might not know, but Beaufort country already imposes impact fees housing developers to construct and improve roads, libraries, and, fire stations.  Under a new bill sponsored by Senator Tom Davis (R - Beaufort), developers impact fees could also be used to building and improvement of local Beaufort area schools.  

Living in Charleston, prior to coming to Beaufort, has given me a unique perspective on the future of Beaufort.  It's strange as I see things happening here that happened 10 year ago in Charleston.  It's like being able to see the future.  Because I have seen the negative effects large, new development can have on an area, I absolutely support the new bill sponsored by Senator Davis. 

When no impact fees are accessed, the developer makes

As we here at Lowcountry Properties already know, Spring Island is home to some of the most beautiful properties in the Lowcountry.  In the latest edition of Travel and Leisure,   they name Spring Island to it's top 25 Golf Communities in America.  To real estate agents in Beaufort SC and residents of Spring Island, this comes as no surprise.  The natural setting, beautiful Old Tabby Links golf course, and other wonderful amenities, culminate in Spring Island being the premier community in the Beaufort South Carolina area and possibly the Southeastern United States.  Already the top community in the Beaufort SC real estate market, Spring Island SC will soon raise the bar by adding a brand new sports complex to their already wonderful amenities.  In the

So I can get in a short blog today I thought I would let everyone know that one of my co-workers, Linda Coe, will have one of her listing properties shown on NBC's The Today Show, at 9:00 am.  I am so jealous!!! That's got to be exciting.  Linda's listing is 32 Fiddler Drive on Lady's island.  Take a preview before you see it on TV.  I have been to this home, and it has great curb appeal and some newly re-done floors...Very Nice

The competition in the Beaufort South Carolina real estate market is fairly tough.  Having a listing on a national show is huge.  Congratulations to Linda Coe.  Lately, I have been calling around and talking with some of the major magazines and website in an attempt to get my website featured.  No luck as of yet.  That hasn't

While a nine percent decline in your local real estate market might seem like bad news, in South Carolina, you are the best.  The 9.2% drop in Beaufort homes sales was the lowest of any South Carolina real estate market.  Homes sales in Beaufort seemed like a dream come true compared to the Orangeburg, SC market, which fell an amazing 34%.  If you have ever been to Orangeburg, that's certainly no surprise.  Sorry Orangeburgonians.  As far as the South Carolina real estate market goes, SC homes sales fell a whopping 24% compared to 2007.  This is great news for us Beaufort SC real estate agents, home sellers, and anyone else involved in the world of real estate.   

There are certain factors that always seem to keep Beaufort above average when it come to