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Real estate tax break gets key approval

Wed, Feb 10th 2010 1:33 pm by Charleston SC Residential Real Estate

Call it a stimulus plan, South Carolina style.

The state Senate has given key approval to property tax breaks for anyone who buys commercial property or a second home this year.

Such properties would get smaller tax breaks if they change hands after 2010.

The goal is to encourage commercial property sales. The costs would be borne by local governments and schools, rather than the state.

The way it would work is if a property other than an owner-occupied home or an industrial property changes ownership in 2010, that property would be taxed based upon the previous owner's assessment. For example, if a property assessed at $200,000 sells for $250,000, it would continue to be taxed as if ...

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Federal Energy Efficiency Tax Credits

Thu, Jan 28th 2010 2:05 pm by Charleston SC Commercial Real Estate

Federal Energy Efficiency Tax Credits
By Amanda Goucher

The Federal Government continues to provide incentives to homeowners to help
encourage improvements in energy efficiency. Credit opportunities exist for
everything from cars and appliances to homes and buildings. With more available
options for energy-efficient appliances and products, a tax incentive is a
wonderful way for the public to become more aware of green alternatives.

Credits are available for both residential and commercial buildings. Many
credits are based on standards for the American Society of Heating,
Refrigerating and Air-Conditioning Engineers (ASHRAE) or Energy Star, and must
meet International Energy Conservation...

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Power Savers: Energy Efficiency in the Residential Sector

Wed, Jan 27th 2010 12:41 pm by Charleston SC Commercial Real Estate

According to the U.S. Department of Energy’s 2008 Annual Energy Review, the residential real estate sector accounts for roughly a fifth (22 percent) of all energy consumption in the country.This considerable share of all energy consumption has led lawmakers to propose policies to improve energy efficiency in homes.At the same time, homeowners and home buyers are showing a greater preference towards energy ef.ciency for reasons varying from a desire to become more environmentally conscientious to cutting down on their monthly energy bills.When formulating policy, however,there are several factors to consider. 

Older vs. newer homes 
According to the De­partment of Energy’s 2005 Residentia...

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Commercial Property Tax Relief

Fri, Jan 22nd 2010 4:50 pm by Charleston SC Commercial Real Estate

Senate measure expected to be adopted today; no break for owner-occupied homes

The state Senate is poised to approve legislation today that would benefit the commercial real estate and second-home market, while creating fresh disparities in the way South Carolina properties are taxed.

The plan, still being drafted Tuesday night, would temporarily eliminate point-of-sale reassessments of commercial property. The legislation is focused on commercial real estate and would not change the rules for owner-occupied homes.

The result would be that a sale this year of an office or apartment building, store, or second home would not result in an increased property tax bill because of reassessmen...

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Some Still Feel Pinch

Fri, Jan 22nd 2010 4:39 pm by Charleston SC Commercial Real Estate

Panel of experts: Problems 'looming' for commercial real estate business

The effects of the recession are passing for some industries, but not for the commercial real estate business, a panel of experts said Tuesday.

Beach Co. President John Darby called the problems for the industry "looming" as millions of commercial loans nationwide become due for property owners who owe more than what their buildings or land are worth.

He cited a Deutsche Bank report from April that predicted two-thirds of the commercial real estate loans expected to mature before 2018 won't qualify for refinancing without a major infusion of cash.

The Charleston market, without towering skyscrapers or a glut of v...

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Terminal Planning Grows

Fri, Jan 22nd 2010 4:33 pm by Charleston SC Commercial Real Estate

Wednesday, January 20, 2010

The cost for planning the State Ports Authority's cruise terminal redevelopment has nearly doubled to about $1.3 million, but the higher price tag comes with a significantly broader scope of work, officials said.

The SPA's board on Tuesday agreed to pay New York-based urban design firm Cooper Robertson & Partners an additional $563,000 to study not the 15 to 18 acres as originally envisioned but the entire 55-acre Union Pier Terminal in downtown Charleston.

The terminal's operations currently include exporting and, to a much smaller degree, importing BMW vehicles.

SPA Chief Executive Jim Newsome said the change followed requests from the public received at ...

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'Livable city' North Charleston garners sustainability award

Wed, Dec 16th 2009 9:10 am by Charleston SC Commercial Real Estate

By Robert Behre
The Post and Courier
Tuesday, December 15, 2009

North Charleston has won a new national award recognizing sustainable development, and city leaders trumpeted the news as proof that their city is a place people increasingly want to live.

"It vindicates a lot of efforts we've done," Mayor Keith Summey said.

The Home Depot Foundation announced Monday that North Charleston and Minneapolis are the first two recipients of its Award of Excellence for Sustainable Community Development.

Each city will receive $75,000. North Charleston's money will go to The Sustainability Institute, a local nonprofit that promotes energy conservation and green building practices.

Fred Wacker, d...

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Boeing: Thousands turn out to hear construction needs for new plant

Mon, Dec 14th 2009 12:45 pm by Charleston SC Commercial Real Estate

By Katy Stech
The Post and Courier
Wednesday, December 9, 2009

Jeffrey Pierce heard about Boeing's informational meeting for local construction workers and immediately called his out-of-work colleagues, eager to spread the good news.

Relief, he told them, could be on its way.

Pierce, a Charleston handyman, hasn't been able to secure steady work, despite the fact that he has done it all: land clearing, concrete pouring, roofing, framing, siding, plumbing, painting and cabinet installation.

Local construction companies have slashed their workforce in the absence of projects. Pierce has called around for jobs, but some firms only have a receptionist left, if that.

"They're just answering...

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North Charleston one of 2 cities recognized for sustainability

Mon, Dec 14th 2009 12:36 pm by Charleston SC Commercial Real Estate

Monday, December 14, 2009

North Charleston is being honored by Home Depot Foundation as one of two nationwide for achievements in sustainable development.

Sustainability means different things to different folks, but generally is defined as understanding connections between the environment, society and the economy and working to make sure resources and opportunities are shared equally.

The award announced Monday notes North Charleston once faced challenges with the closing of the Charleston Navy Base and people leaving for the suburbs.

The city revised its master plan to reduce blight, reduce pollution and increase environmental awareness. It shares the $75,000 award with its nonprofi...

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Riley's Outlook: Mayor says city, area poised to be a leader in future economy

Thu, Dec 10th 2009 2:05 pm by Charleston SC Commercial Real Estate

By Allyson Bird

The Post and Courier

Wednesday, December 9, 2009


When Forbes magazine ranked Charleston among the top 10 smartest cities in the world, it gave Mayor Joe Riley a reason to remind residents how pretty the city sits as it looks toward the economic future.

Standing before a choppy harbor at the Maritime Center on Tuesday, he listed some of Charleston's and the greater area's recent achievements, including landing the second Boeing 787 Dreamliner factory, signing a deal to keep shipping giant Maersk Line calling at the port and scoring a host of top destination rankings in national travel publications.

Riley also highlighted some of the knowledge-based industry developm...

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Questions for Home Buyers

Wed, Dec 9th 2009 2:38 pm by delete this Charleston SC Commercial Real Estate

For home buyers, green is fast becoming a priority-whether it's because they want to reduce their energy costs, minimize their carbon footprint or improve indoor air quality.

Here are 10 questions that prospective buyers or renters ought to ask to find out how green a house or apartment is.

1. How big is it?
The bigger the home, the more energy it uses. The U.S. Green Building Council considers a "neutral size" home-basically what most people need, without what might be considered luxury space-to be 900 square feet for a one-bedroom home, 1,400 square feet for two bedrooms and 1,900 square feet for three bedrooms. A 100% increase in the size of the home adds anywhere from...

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Buy-and-Hold Strategies Suit Today’s Market

Fri, Jul 31st 2009 6:19 pm by delete this Charleston SC Commercial Real Estate

OPPORTUNITES IN REAL ESTATE Saturday/Sunday, June 27-28, 2009

Every downturn in real estate brings opportunities for investors, whether they're looking for commercial property or a new home.  The right choice depends on the individual appetite for risk, and the ability to put equity into the deal.  The reckless, over-leveraged, buy-and-flip days of the middle of this decade are gone, and today's investor must take a long-term view.

Dennis L. Ruben, managing director NRC Realty Advisors, a Chicago-based firm that specializes in accelerated sales of real estate, says today's opportunities lie in a buy-and-hold strategy, more in residential proper...

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