A federal mortgage interest buy-down program would help spark the housing market, the NATIONAL ASSOCIATION OF REALTORS® said in a letter sent today to James B. Lockhart, chairman of the Oversight Board of the Federal Housing Finance Agency.

NAR seeks a 4.5 percent mortgage interest rate buy-down program financed through the U.S. Treasury Department’s Troubled Asset Relief Program.

In the letter to FHFA, NAR shared three potential implementation procedures for a federal buy-down plan:

1. TARP would fund the payment of points at the individual level.

2. The Federal Home Loan Banks would raise funds by selling below-market-rate loans to the Treasury Department for them to make the 4.5 percent interest rates available to lenders.

3. Fannie Mae and Freddie Mac would purchase mortgages at the 4.5 percent interest rate but pay lenders the market rate.

“The buy-down program would complement other initiatives and help stabilize, stimulate and revitalize the housing market,” says NAR President Charles McMillan. “We must address the foreclosure crisis and increase housing demand. Lower interest rates and foreclosure mitigation are two sides of the same coin. Together they represent the key ingredients to stabilizing the housing market and preserving communities and homeownership.”

NAR has calculated that a 1 percentage-point decrease in mortgage rates would result in an additional 500,000 home sales.

In addition to suggesting that TARP assets be used to buy-down mortgage interest rates, NAR has recommended other principles that would help create long-term stability by ensuring that safe and affordable mortgages are available throughout the nation.

The higher loan limits passed in the economic stimulus bill earlier this year should be made permanent.
The federal government should ensure sufficient capital to support mortgage lending in every type of market.
The temporary $7,500 tax credit for first-time home buyers should be extended to all home buyers and the repayment requirement eliminated.

—NAR

CHARLESTON – US News & World Report, in its annual ranking of “America’s Best High Schools,” has rated 19 schools in South Carolina among the best in the country.

Charleston County’s Academic Magnet High came in ninth place among the magazine’s top 100 “gold” schools. The list was posted on US News & World Report’s Web site Dec. 4 and appears in its Dec. 8 printed edition.

The North Charleston school improved from No. 27 last year — the magazine’s first list of top high schools. Academic Magnet High also landed in the No. 2 spot for magnet schools nationwide.

Eighteen other high schools in the state did not make the top 100, but earned a place in the silver or bronze medal categories in a comparison of more than 21,000 public high schools across the country.

Schools listed in the silver category for 2008 include:
Charleston School of the Arts, Charleston County
Chapin High School, Lexington/Richland District Five
Lexington High, Lexington District One
Mayo High, Darlington County
Riverside High, Greenville County

Lexington High and the Charleston School of the Arts also earned silver honors in 2007. Mayo High moved up after being ranked as a bronze medalist last year, when a total of 15 Palmetto State schools were recognized by the magazine.

Schools listed in the bronze category for 2008 include:
Aiken High, Aiken County
Bethune-Bowman Middle High, Orangeburg District Five
Broome High, Spartanburg District Three
Calhoun County High, Calhoun County
C.E. Murray High, Williamsburg County
Green Sea Floyds High, Horry County
Greenville Technical Charter High, Greenville County
Latta High, Dillon District Three
Ninety-Six High, Greenwood District 52
Ridge Spring-Monetta High, Aiken County
Walhalla Senior High, Oconee County
Wando High, Charleston County
Wren High, Anderson District One

Five of these high schools – Bethune-Bowman, Calhoun County, Greenville Technical Charter, Latta and Ninety-Six – made the bronze list last year, also. Wando High was in the silver medal category in 2007.

The magazine and its partner in the rankings project, School Evaluation Services, examined 21,069 public high schools in 48 states. The rankings are based on comparisons of students’ test scores to state averages and their participation in and performance on Advanced Placement tests.

The 100 high schools with the highest college readiness scores were ranked and awarded gold medals, and the next 504 top-performing high schools received silver medals. Bronze medals went to 1,321 schools.

SCBIZ Daily Staff, December 9, 2008

I know everyone is busy getting ready for the Holidays and decorating their homes. As the holidays approach, the Consumer Product Safety Commission (CPSC) is urging people to look for and eliminate potential dangers from holiday lights and decorations that could lead to fires and injuries. Each year, hospital emergency rooms treat about 10,800 people for injuries, such as falls, cuts and shocks, related to holiday lights, decorations and Christmas trees. In addition, there are 11,000 candle-related fires each year, resulting in 150 deaths and 1,200 injuries annually. Christmas trees are involved in about 400 fires annually, resulting in 20 deaths, 70 injuries and an average of more than $15 million in property loss and damage. Click on the link below for some CPSC tips to make your holiday a safe one.

http://www.homehintsenews.com/plainpage.asp?page_name=holidaydecorationsafety

I know that a lot of you will be traveling around the holidays and it is very important to protect your home. As with most things, a little common sense goes a long way. Burglars go through neighborhoods looking for uncut lawns and stuffed mailboxes. In the evening, they look for darkened houses or lights that have been left on too long. There are many easy and cheap ways to help reduce your chances of being burglarized. I liked the Memphis, Tennessee Police Department’s suggested burglary prevention tips to help make you and your family safer. Click on the link below to access these tips.

http://www.homehintsenews.com/plainpage.asp?page_name=burglaryprevention

Now is a great time to buy real estate regardless of what the media is saying. The interest rates are low and it is a buyers market. There are some fantastic deals out there. There is financing available regardless of what the media is reporting. If you are a first time home buyer, an investor, or someone just looking for a new home it could not be a better time to buy.

Below is the link to an article from Time Magazine written by Dan Kadlec in February 2008 that reinforces this. Ignore the Headlines!

ignore-the-headlines_time_article_feb_2008

We currently have 3 rental properties available.

Available Now 1 bed, 1 bath in great location on James Island. Next to the Connector you can be Downtown in 5 minutes or on Folly Beach. Rented at $875 a month.

We currently have 3 Rental Properties available in Charleton, SC

Almost new home located in Summertrees on Johns Island with quick access to Maybank Highway, River Road, Main Road, or Highway 17. Offers 4 Bedrooms, 2+ baths, 1876 square feet, seperate living room and dining room, spacious kitchen, screen porch, and private back yard. Home is available for occupancy in the middle of December. Rent is $1375 a month.

We currently have 3 Available Rental Properties in Charleston.

204 Sans Souci, # 4A located in Wagener Terrace. This one of a kind Ashley River condo is available immediately for $1500 a month. Features wood floors, 2 parking spots, refrigerator, washer & dryer, and incredible sunsets. Great Downtown Charleston location.

Virtual Tour of Home

Beautiful home on lovely pond lot in gated Dunes West neighborhood. Downstairs features wood floors and crown molding. Wide entry flanked with formal living room and formal dining room. Dining Room has a pretty chandelier, chair rail, and wainscoting. Powder room has upgraded fixtures and a pedestal sink. Family Room is open to the kitchen and has great views of the pond. Family Room also features a gas fireplace with built in bookcases on each side, a ceiling fan, recessed lighting and spot lighting on the fireplace. Spacious and bright Kitchen has plenty of upgraded maple cabinets, granite counters, sunken double sink, two pantries, black appliances include electric cook top, wall oven and microwave, dishwasher, disposal, recessed lighting, breakfast counter, and eat in breakfast area with pond views. Enjoy your morning coffee on the screen porch. All of the bedrooms are upstairs. Master Suite features a double door entry, tray ceiling, crown molding, a large bay window to enjoy the pond, double closets, 12″ ceramic tile floor in bath, double vanity, jetted tub, separate stand up shower, and a private toilet closet. Laundry Room is upstairs for convenience. Second Bedroom is a good size with a large closet and offers a private entrance to the hall bath. Third bedroom is also a nice size with good closet space. Fourth Bedroom is sunken Bonus Room with a huge walk in closet and extra attic storage. Dunes West is filled with walking trails. Dunes West offers extra amenities for an extra charge such as golf, tennis, swimming pool, and an exercise area.

Virtual Tour

Look no further, this beautiful home has everything you are looking for and is just two years old! Foyer has wood floors and a coat closet. Bright and sunny Living Room features Berber carpeting, a ceiling fan and a wood burning fireplace with marble surround and a white mantle. Spacious Dining Room has chair railing and a pretty brushed chandelier. The Kitchen is filled with upgrades including 42″ cabinets with brushed pewter knobs, a custom tile backsplash, corian countertops, all black appliances, smooth top stove, built in microwave, double embedded sink, breakfast area, and recessed lighting. Laundry closet is downstairs. Powder bath has a pedestal sink and upgraded fixtures. Brushed door knobs throughout home. All of the carpeting is an upgraded Berber. Master Suite is upstairs with a tray ceiling, upgraded ceiling fan, dual closets, dual vanities, a garden tub, and a separate shower. Other two bedrooms are a nice size with lots of closet space. The huge Bonus Room can also be the fourth bedroom with a ceiling fan and a good size closet. Home offers 3 thermostats for comfort and efficiency. Two car garage with custom built cabinets and the floors are finished with protective paint. Large backyard backs to woods for lots of privacy on the screen porch. Amenities include a playground, picnic area, sidewalks, and paths to Whitney & Trophy Lakes. One Year Global Home Warranty to Buyer at closing.