Last Quarter:
During the 4th Quarter of 2012, Columbia Home Prices had a rank of 217, with
appreciation of 0.29%. The top performing real estate market during the 4th
Quarter was Bismarck, ND, with appreciation of 4.55%. The worst market during
that period was Hattiesburg, MS, with appreciation of -4.02%.
The median appreciation for all cities during the 4th Quarter was 0.47%. The
average appreciation for all markets during the quarter was 0.54%.

Last Year:
During the last 12 months, Columbia Home Prices had a rank of 314, with
appreciation during the year of -1.87%. The top performing market during the
last year was Bismarck, ND, with appreciation of 13.4%. The worst real estate
market during that period was Gainesville, FL, with appreciation of -6.8%.
The median appreciation for all markets during this period was 0.27%. The
average appreciation was 0.31%.

Last 5 Years:
Over the 5 years ended with the 4th Quarter of 2012, Columbia Home Prices
ranked 179, with a total appreciation of -8.3%. The top performing real estate
market during the 5 year period was Bismarck, ND, with appreciation of 24%.
The worst market during that period was Las Vegas, NV, with appreciation of
-54%.
The median appreciation for all cities during this time period was -9%. The
average appreciation over the 5 years was -12%.

Last 10 Years:
During the 10 years ended in the 4th Quarter of 2012, Columbia Home Prices
had a rank of 212, with appreciation during the decade of 16%. The top
performing market during the period was Midland, TX, with appreciation of
104%. The worst real estate market during the 10 year time period was Detroit,
MI, with appreciation of -31%.
The median appreciation for all markets during the last 10 years was 18%. The
average appreciation for the cities over that time frame was 18%.

One thing this clearly shows it that long term strategy for home ownership is a good way to reach you financial goal.

With spring here in all its bounty, it’s time to renew, refresh and revive our understanding of what’s fueling the ongoing market recovery. First, tightened inventory levels combined with strong demand are fueling price gains in many areas. Second, consumer demand is shifting from distressed properties to conventional homes. Third, record-low mortgage rates and rising rents are supporting housing recovery. Let’s check the local scene.

New Listings in the Southern Midlands region decreased 16.1 percent to 47. Pending Sales were up 59.3 percent to 43. Inventory levels shrank 5.1 percent to 481 units.

Prices tumbled a bit. The Median Sales Price decreased 44.3 percent to $58,450. Days on Market was down 24.7 percent to 169 days. Absorption rates improved as Months Supply of Inventory was down 19.2 percent to 18.2 months.

On the economic front, things inched forward. We saw a minor but important upward revision to Q4-2012 GDP growth that put us back in positive territory. In the political arena, key debates over the deficit, marriage, gun law, immigration reform and tax policy rage onward. The squeaky wheel gets the grease, and with this emerging housing recovery, there are no imminent housing-related bills. Perhaps that’s a good thing.

Housing Supply Overview

With a full quarter worth of data, the keen market watcher is tracking just how 2013 is stacking up. For the 12-month period spanning April 2012 through March 2013, Closed Sales in the Southern Midlands region were up 5.4 percent overall. The price range with the largest gain in sales was the $100,001 to $150,000 range, where they increased 18.4 percent.

The overall Median Sales Price was down 2.7 percent to $88,500. The property type with the smallest price decline was the Single-Family segment, where prices decreased 0.6 percent to $89,450. The price range that tended to sell the quickest was the $50,000 and Below range at 179 days; the price range that tended to sell the slowest was the $150,001 to $200,000 range at 335 days.

Market-wide, inventory levels were down 5.1 percent. The property type that lost the least inventory was the Single-Family segment, where it decreased 4.5 percent. That amounts to 18.2 months supply for Single-Family homes and 6.4 months supply for Condos.

Sales incentives (Florida only):

• $100 down payment – for qualifying owner-occupant buyer with FHA financing only

To get started, contact a HUD-registered real estate professional or follow the links in our Get Started box to the right.

Consider FHA Financing - benefits include:

• low down payment
• competitive interest rates
• flexible credit qualifying
• more protection to keep your home
• approved lenders near you

Purchase and fix up your HUD Home with the FHA 203(k) Program. One mortgage loan does it all, financing both the purchase and repairs of your new home.

• Kingston Harbour encompasses 80 acres, less than 5 minutes from downtown Lexington
• On the water side – 69.48 acres, with 88 homesites
• Across Catawba Trail – 10.88 acres, with 15 homesites

Dock and Homesite Information:
Private docks can be built on 11 of the lakeside lots
2 lakefront lots will have a shared dock

Our Homesites:
88 interior homesites will be offered
Only 13 of the sites are available on the tranquil, still water pond
All tracts are designed for single family homes
An elaborate gated and landscaped entrance

Amenities for all Ages:
A gracious and convenient Clubhouse facility
4 lighted tennis courts
A lighted and landscaped beach entry pool and patio
A community boat ramp with courtesy dock and parking
Community boat storage
Sidewalks throughout the community
Streetlights

Architectural requirements:
2500 square feet minimum home with architectural review

INFO THAT HITS US WHERE WE LIVE… There is more and more evidence that the door of opportunity is opening in the housing market. On Valentine’s Day Freddie Mac showed us some love in their Housing Market Outlook, which projected starts UP 22% this year, to a 950,000 unit annual rate. Their chief economist commented, ”Across the nation, most local housing markets have room for sustainable growth…. As the broader economy heals, expect to see more good news, with house prices continuing their recent upward trend, and home sales and housing starts continuing to post strong growth rates.”

Not to be outdone, the National Association of Realtors (NAR) reported Monday that the recovery in real estate values is picking up steam. Median home sale prices were UP 10% in Q4 over last year and 133 of 152 metro areas posted yearly gains, versus just 29 metro areas a year ago. The NAR’s chief economist commented, ”Home sales are on a sustained uptrend…fueled by a pent-up demand and job creation, along with still favorable affordability conditions and rents rising.”

BUSINESS TIP OF THE WEEK… With social networks, focus on building a manageable number of meaningful connections, instead of going for hundreds of weak connections. Seek quality, not quantity.

Columbia SC Bank Foreclosures & Government Foreclosed Houses, Federal Homes, Distressed Properties, and Commercial Foreclosures are all at your fingertips with Chipjefferson.com. All foreclosures, HUD, VA, and other government property home lists and listings are represented. Gibbs Realty along with Chip Jefferson are the top agency in South Carolina handling Foreclosed homes and Bank owned properties throughout the Midlands of South Carolina. Specializing in Columbia, West Columbia, Irmo, Chapin, Gaston, Pelion, Lexington, Lake Murray, Gilbert, White Knoll, Northeast Columbia and all the outlying counties of Midlands South Carolina. Gibbs Realty and its agents are specially trained to handle selling or buying of Bank Owned and Government home properties and Commercial Real Estate.

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29016-Blythewood (Seaton Ridge)

FOR SALE $279,900 Wow Home

	Gibbs Real Estate
	Chip Jefferson Email Chip Work: 803-808-1260 Cell: 803-360-0491 Fax: 803-808-1264
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	Details
	Address: 145 Seaton Ridge Drive Type: Residential Style: 3 Story Bedrooms: 5 Bathrooms: 3 Suite: No Living Area: 3,862 square feet Year Built: 0 More Details

	Description
	WOW we took the negotiations out and priced it to please. GREAT home on a huge lot with POND and IN GROUND pool. Hardwoods and all the upgrades. Huge space with must see Master. Teen suite with sitting area. Imagine the summer nights swimming by your own waterfall. Game room with pool table and way to much to list. Must see for anyone! More Description

Listing Agent Chip Jefferson. Gibbs Realty and Auction Lexington SC .

QUOTE OF THE WEEK… ”I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel”–Maya Angelou, American author and poet

INFO THAT HITS US WHERE WE LIVE… People who are putting their homes on the market appear to be feeling pretty good these days. An online real estate portal reports that the asking prices of homes listed with them were up 5.9% in January from a year ago, in 86 of the 100 largest metros. Those asking prices grew by a seasonally adjusted 0.9% from December, the largest month-over-month boost since March last year.

Housing experts are feeling pretty good too. The chairman of the S&P Dow Jones index committee said, ”housing is clearly recovering,” citing November’s healthy new and existing homes sales. The National Association of Realtors chief economist predicted,”Job creation and household formation will likely fuel growth. Both sales and prices will again be higher in 2013.” (CORRECTION: A keen Inside Lending reader pointed out Ayn Rand’s first name was misspelled following her quote in last week’s edition. We’re sorry for the typo and apologize to Rand fans.)

BUSINESS TIP OF THE WEEK… Don’t get sidetracked before you reach your goal. When you’re stuck, going out for a walk is a great way to clear your mind and get back on track.

>> Review of Last Week

ONE DOWN, TWO UP… The Dow had a seesaw 5 days–down 130, up 99, up 7, down 42, up 49–to end the week down a mere 0.1%, just below last week’s 14,000 threshold. Butthe S&P 500 headed north and is now up for the first six weeks of the new year, which has not happened since 1971! The Nasdaq also registered a gain, making another healthy start to the year. Friday, investors were buoyed as the U.S. trade deficit came in down almost 21% in December, its biggest drop in four years, thanks to rising exports and a decline in imports.

Earlier in the week, the ISM Services index was down for January but showed expansion for the 37th month in a row. Best of all, the ISM Services employment sub-index rose again, hitting its best reading since February 2006. Employment expansion is especially good for the economy in the services sector, since it provides well over 80% of U.S. jobs. On the down side, Productivity fell at a 2% annual rate in Q4, not too cool. But new weekly jobless claims were down by 5,000, to 366,000, another sign of labor market improvement.

Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates.

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