Hint: From a distance this bird looks more green than yellow

Thanks for all of the guesses on last weeks Mystery Photo.  The answer: Trillium maculatum or Little Sweet Betsy.  If you like that flower you can purchase it next month at the SC Native Plant Sale. 

This week’s mystery photo was taken at Botany Bay although it could have been taken anywhere in the Lowcountry. Can you name these little guys?

What you cannot see is the spot on the top of his head

Thought for today: 

Good decisions come from experience.  Experience comes from bad decisions.

Happy Day

BTW, Congrats to all who guessed the shells correctly.  Click here to see what they were:

Reflective audience

No matter how long I live down here I still cannot adjust to leaves falling in the springtime. I find myself resisting the urge to yell at mother nature and tell her that her timing is way off track!  I imagine a silly dialogue.  A Taoist lesson if you will…

Me: “Leaves fall in October, not March!”

Mother Nature:  “Oh yeah. Says who?”

“Says me!”

“And who are you?”

“I am a little peon who thinks she can control the universe with my opinions.”

“And why is it so important to control the universe?”

“Because knowing what to expect keeps me safe from harm, allows me to plan and be productive.”

“In other words, you are a simple person who needs the structure of logic to live a happy life?”

“Yes.”

“And if I upset your logical order, you can no longer function?”

“Well, if you put it that way, I can but it’s much harder.”

“So when logic fails you, you cannot trust something bigger than yourself?”

“Like what, God?”

“Maybe…or maybe just something bigger than logic, bigger than emotions, bigger than you.”

“So if I’m not in control of the universe, then what I am in control of?”

“Your response to the universe.  That’s it. Nothing else.” 

“And that’s supposed to be enough?”

“Yes.”

“But what about my plans, my hopes and dreams, my vocation?”

“You are only here to experience life as a human being with all of its foibles and all of its wonderful encounters.  To love and hurt, to laugh and cry, to experience the full spectrum of what is available to you and to accept that everything that happens is…

“Is what?”

“Just is….”

“I think it’s easier to curse the leaves…”

“Sure it is.  But you are bigger than that. You can do more than that.”

“Like what?”

“Like laugh at yourself when you want to curse the leaves, or rush the dawn or push back the night.”

“In other words, accept what is and keep going?”

 “Yes, that’s a start.  Then your whole world will change and you will begin to see things differently.”

 “Like how?”

 “Well once you really accept that you cannot stop the leaves from falling you will learn to enjoy them as they fall.” 

 “Savor what I have you mean?”

 “Enjoy it without wanting to possess it forever.  Enjoy it as you have it knowing that you will only have it for a brief moment before that too ends.” 

 “But that’s so painful, enjoying it knowing that it’s going to end, to go away.”

 “The pain depends on what you are trying to keep, the happiness those things bring or the things themselves.”

 “I don’t understand.”

 “No, but you are beginning to…”

 “How?”

 “Just by having these conversations….”

So what does this mean for the rest of the country?  Hopefully, it means that we are beginning to see the end of the drop.

According to the latest numbers from the Shiller National Home Price Index, housing prices are back to what they were in 2003.  This is good news. Not great news but good news. Barclay Capital is predicting it to dip another 4-5% before it stabilizes.  They also predict that it will be a VERY SLOW climb back up over the next few years. 

So how do you interpret this? 

First time buyers – It means that as long as interest rates hold steady (which may or may not happen) you can probably expect to see lower prices and affordable housing continue to become available. Even if you miss the April 30th deadline for the $8000 tax credit, you can still get in on an affordable home.

Sellers – It’s time to get real. Don’t expect the moon and stars.  Ask yourself what your house would have sold for 5-10 years ago?  Chances are that you are in the right pricing ballpark.  If you have 10+ years of equity, you can still expect a decent profit.  If not, expect to break even or get out from under.  Otherwise, HOLD!

Investors – Cash in king!  If you’ve got it, you can pick up deals now like nobody’s business.  And I’m not just talking trashy handyman specials or bank owned money pits.  I’m talking luxury homes, beachfront villas and commercial retail space at fifty cents on the dollar. Take these homes, for example.

2208 Palm Blvd

Brand New, 6 bedroom,6.5 bath luxury oceanfront home on the Isle of Palms.  This home has the best of everything you could imagine.

Original asking price:  $6,495,000.00

2010 Asking Price:      $3,800,000.00

312 Bridgetown Pass, Belle Hall

Or this upscale newer home in Belle Hall, Mount Pleasant.  This 3700 square foot home with Charleston style porches, chef’s kitchen, features 4 bedrooms 4.5 bath, and custom-built everything: triple crown molding, rubbed bronzed finishes, 10 foot ceilings, Brazilian cherry floors.

Original Price:  $940,000.00

New Price:      $612,000.00

And it just keeps getting better….

3C Turn of River, Folly Beach

This 3 bedroom, 3 bath highrise condo comes fully furnished.  With incredible sunset views overlooking the Folly River, you could sail off into the sunset or just relax while the sunset comes to you.

Other units have sold here  in the mid $400s. 

Asking Price for this fully furnished luxury unit: $320,000.00

If traditional homes are more your style, check this out:

664 Highwood Cir, James Island

This 4 bedroom, 3 bath brick home in the heart of James Island was well maintained by the same owner for over 20 years.  New roof, HVAC, hot water heater, freshly painted and landscaped.  Inside is pristine and ready for your own personal updates or you can leave it as it is and enjoy comfortable, traditional living. 

A few years ago this home would have hit the market in the high 400’s.  2010 Asking Price: $300,000.

Charleston prices have been holding steady now for the past six months.  Still dipping in some markets but climbing in others resulting in ’even-steven’ price index. 

That’s why CNN Money voted Charleston one of the best real estate investment markets in the country. 

Want to find more REAL DEALS?  Give me a call and I’ll set up a steady stream of investment opportunities tailored to your preferences.

Notice the mottled leaves and maroon bud

Most of you probably already know what it is.  But can you name the variety? 

Thought for today

“The most effective way to listen is with your mouth closed and your mind opened.”                                     

 Happy Day, Trish

Things you might see while you’re there….

Award of Design Excellence (in layman's terms top design in show)

In the butterfly house

One of NGC's new types: Creative Floor Designs

Zebra longwings were everywhere

Don't miss the Button Quail

Thought for today:

Imagination may be more important than knowledge, but the combine the two and the sky is the limit.

Happy Day!  Trish

Exhibition Table Design

Wonderful educational exhibits on gardening, trails and composting

Line Mass Designs

A Design's a Design no matter how small - this one's 8 inches

 “Even on the road to hell, flowers can make you smile.”   

“How true” I thought.  No matter how good or bad things may seem sometimes, most of us cannot help but be lifted by a flower filled scene. And what better place to experience such splendor than Charleston, SC where every season offers something in bloom.  Although I admire the winter camellias whose bold colors defy the harshness of the season, there is one flower that brightens my heart even more.  Cercis Canadensis, aka the Eastern Redbud.

With its delicate vibrancy of pink blossoms, the Eastern Redbud tree stands alone against the gray skies of winter promising better days ahead.  

This native tree grows 20-25 feet on average with an equal width, although most of the time, it seems taller than wide because it is used an under-story tree around oaks and pines.  Slow to start, a sapling may take 5-7 years to fully flower but then it will shoot up much quicker bursting forth each spring in what seems like a cloud of pink blossoms.  If you’re patient, you can purchase these trees from the National Arbor Day Foundation for pennies but most nurseries sell semi-mature trees that are 8-12 feet tall so you can immediate blooms.  Immediately after blooming, it covers itself in green heart-shaped leaves that turn reddish or bronze in the fall.

Easy to grow, requiring very little care, this is a very popular tree among Lowcountry gardeners and landscapers. But here are some facts about this native tree that even your landscapers may not know:

~Buds and blooms are edible

~Native Americans ate the flowers raw or boiled as well as the roasted autumn seeds

~Southern Appalachian residents use the green wood to season game and named it the Spicewood tree

~The chemical that makes them pink is called anthocyanins,  a powerful anti-oxidant

~Only long-tongued bees (carpenter, bumble bees) can reach the nectaries. 

~The reddish color is a natural sunscreen. Like most new winter growth, the red color protects against the extreme winter sun.

This information is provided by Henry H. Lowndes, Jr. with C. T. Lowndes & Company, an independent insurance agency with 7 locations in the tri-county area.

Map courtesy of the US Geological Survey shows the major earthquake hazard areas within the United States based on fault lines

Earthquake Insurance

The first 2 months of 2010 have featured two major earthquakes, in Haiti and in Chile, that have caused much damage and many deaths. If the Charleston area were to experience a catastrophic earthquake, would your insurance policies provide the protection you need? Here are some answers to questions you may have. But be sure to understand that all insurance policies are not alike and you must read your policy and/or speak to your agent to determine your exact coverages.

Does my home insurance policy automatically include earthquake insurance?

Generally speaking, the answer is no. The typical homeowners policy does not include earthquake insurance. Damage done by an earthquake is specifically excluded.

Some condominium unit owners (HO-6) policies do include earthquake insurance but you must refer to your particular policy to see if an earthquake endorsement form has been attached to the policy.

Does my auto insurance policy automatically include earthquake insurance?

Yes, automobile insurance policies provide earthquake coverage as long as comprehensive (other than collision) insurance applies to the damaged vehicle.

Does a commercial insurance policy for my business automatically include earthquake insurance?

In almost all cases, the answer is no. Damage caused by an earthquake is specifically excluded. The exception is if you have a Difference in Conditions (DIC) policy. Most DIC policies do include earthquake insurance.

How can I obtain earthquake insurance?

Many insurance companies allow earthquake insurance to be added to the homeowners or commercial policy by endorsement, with an additional charge for the insurance. You should contact your company to see if they offer earthquake insurance.

There are several insurance companies that issue a stand alone earthquake policy. In other words, they do not require you to have any other insurance policies with them. These companies are usually ones like Lloyds of London.

What is the usual deductible for earthquake insurance?

The vast majority of insurance companies offer earthquake insurance with a percentage deductible, ranging form 2% to 15% or higher. This percent is a percentage of the amount of insurance on the building. For example, a policy insuring a home for $500,000 with a 5% earthquake deductible has a deductible in the amount of $25,000.

One caution here. Read the endorsement providing earthquake coverage very carefully as many companies make the deductible apply separately to building and contents. Thus in the above example, if your homeowners policy included $250,000 contents coverage, a second deductible of $12,500 would also apply to the contents portion of the claim!

At least one Lloyds of London market offers earthquake insurance with a flat $1,000 deductible that applies separately to building and contents..

Are there any other oddities about earthquake insurance about which I should be aware?

Yes, a few companies will provide earthquake for a brick veneer structure but their endorsement states that the bricks are not covered! In the aftermath of an earthquake, you may find yourself with a pile of bricks around your home and no insurance coverage! Be sure to read your policy!! Some companies will allow you to buy back the coverage for the bricks.

Is an earthquake a real threat in the Charleston area?

A major Earthquake struck Charleston in 1886 and that fault line runs generally from Ravenel area to Summerville. The Charleston area experiences many minor tremors each year, most so minor we do not feel them. There are several good internet sites that discuss the threat. Just type in “Charleston SC earthquake”.

Is earthquake insurance expensive?

The Charleston area does have fairly high earthquake rates. The rates for a frame or wooden building are much less than the rate for a brick veneer or other masonry building. As a very general guide, the earthquake rate for a frame house would be $1.00 per thousand and for a masonry building, $3.00 to $5.00 per thousand. For example, earthquake insurance for a frame house insured for $300,000 would cost about $300 annually. Your agent can give you an exact quote.

Is tsunami insurance included in earthquake insurance?

No, you must purchase a flood insurance policy through the National Flood Insurance program in order to have coverage for the “big wave”.

A 3 foot Shark at Folly Beach

For some odd reason I woke up thinking about fishing strategies.  Expert fishermen study all of the trends of weather, currents, bait, etc to make informed decisions about when and where to find the biggest catch.  But even with all of their expertise, they still have to wait for the fish to take their bait and time it just perfectly to hook them. Too early and you scare the fish away.  Too late and you’ve lost your bait.

Buying a house can be like that too, especially in today’s weird economic climate.   Just when you think you know what the market is going to do, it swings up or down without warning. But smart Realtors are like fishermen.  They study and watch and wait until more signs point in one direction than in another.   Here’s what I’m sharing with my buyers and sellers:

• Interest Rates All of the economic indicators predict that rates will go up very soon, perhaps in the next month or so.  Bernanke is trying to hold back the floodgates but the inevitability is in front of us.  China is no longer buying our debt and we cannot continue to shore up our own Treasury Bond Market indefinitely. Unless the administration can pull a rabbit out of its hat, I expect interest rates to begin climbing at a fast clip by mid-summer.
• Prices Believe it or not, average prices in our area have dropped to a point where they are now teetering around a bottom.  For the last six months the average prices of homes sold on James Island have climbed $32,000.

August               211,244

September         212,532

October              183,844

December           296,078

January              241,705

February            243,092*

• Tax Credits We are now on the home stretch of the $6500-$8000 tax credit.  Nothing from the FED indicates that it will be continued.  Contracts must be ratified by April 30^th and closed by July.
• SPRING We can’t help it.  No matter how logical we try to be, it is our very human nature to “nest” in springtime. FACT: For the last 100 years, (on average) more houses have sold between March and July than any other time of the year.
• Financing Given the current climate of stated-income financing available, there continues to be fewer investors buying.  The financing just isn’t what it used to be for them so they are left making more cash deals than loan deals.  As one investor told me at the auction, you can only do that so much before the cash runs out and then you run out of buying power.

Factors that might swing the market in another direction:

• Foreclosures and Job Loss I do not think we’ve seen the full impact of either of these.  Both will bring down prices.  Foreclosures will increase the home inventory and Job Loss will shrink buyer demand.  Question is, by how much?  Only time will tell.
• Short Sale Process For six months we’ve seen banks struggle to handle the tsunami of short sales.  Most banks HATE these and process them at a snail’s pace, preferring to foreclose so they can collect the Mortgage Insurance and cover their losses.  Arithmetically it doesn’t make sense but who ever said that American capitalist banking makes sense.

By now your head is probably spinning much like a novice out on a deep-sea excursion.  Never fear, your Realtor is here. It’s my job to understand all of this and use it to help you make the right decisions.

The bottom line question I’ve been asked a lot lately:  Would I buy now? The answer: yes!

Why? Because I treat real estate as it should be treated, as a long term investment in my own future and yours.

Happy day,

If you’d like help navigating the Real Estate Market,  give me a call at 843 276-1618!

Trust ~ Reliability ~ Integrity ~ Service ~ Heart

*Stats courtesy Dan Mengedoht, Carolina One Real Estate

Angel Wing

Cockle Shell

Channelled Welck

Auger Shell

Knobbed Welck

Sharks Eye

Scallop

Red Olive Shell

Thought for today

Time is a sort of river of passing events, and strong as its current; no sooner is a thing brought to sight than it is swept by and another takes its place, and this too will be swept away. Marcus Aurelius Antoninus