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April 2025 continues the trend of a tale of two very different markets: single family homes and condos/townhomes. 

Condos/Townhomes:

We officially have more than 8 months of inventory for this property type listed in the Coastal Carolinas Multiple Listing Service. There were 3,325 condos or townhomes for sale in our market at the end of April. The last time we had that much inventory for condos and townhomes was September 2016 when we had 3,339 properties in this category for sale. Does this mean the sky is falling? Absolutely not. We didn’t think so then and we don’t think so now. What it does mean is that buyers have more options than they’ve had in a long time and sellers are competi...

Choosing the right kitchen cabinets is key to creating a stylish and functional space. With so many designs and trends to consider, here's a quick guide to help you navigate five popular cabinet styles and trends.

1. Shaker cabinets 

Shaker-style cabinets are timeless and versatile, featuring clean, simple lines that work well in traditional and modern kitchens. Their classic design, with a recessed panel, lets you easily update your kitchen's look by switching hardware or paint colors.

2. Flat-panel or slab cabinets 

For a sleek and modern look, flat-panel cabinets are a great choice. With smooth, minimalist surfaces and no detailing, these cabinets fit perfectly in contemporary kitc...

When your lender originates your mortgage loan, it will usually ask you to also set up an escrow account. Each time you make a mortgage payment, you'll pay a bit extra. Your lender will then deposit this money into your escrow account. Note that this escrow account does not earn you any interest.

When your homeowners' insurance and property tax bills come due, your lender will use the money in your escrow account to make these payments on your behalf. Why? Your lender wants to make sure that you don't miss these payments — something that could increase your risk of defaulting on your mortgage.

How much will you pay each month for your escrow account?

The amount you pay each month for y...

For condos and townhomes, our area has officially been in a buyers market (more than 6 months of supply), since April 2024. In February of this year, we surpassed 7 months of inventory and last month, we hit 7.5 months of inventory!

Why do we care about months of inventory? Months of inventory is calculated by taking the current number of condos/townhomes for sale (supply) and dividing that number by the number of condos/townhomes that sold last month (demand). We care about this number because it shows supply and demand in one calculation. 

March 2025 saw a 3.5% decrease in properties going under contract and a 3.9% increase in properties being added to the market compared to March 202...

Last month, 1,235 properties closed. Of those, 427 (almost 35%) were new construction. That means 1 out of every 3 homes that closed last month were new. 

What historic number did new construction hit last month? Pending sales. 

At the end of March, there were 628 new construction properties under contract. That’s the most ever in recent history The MLS database for new construction goes back to 2007 and this is the highest month on record.

Builders are typically more motivated and understand the market more than the average seller. Not only are they selling a brand new home, they are offering incentives, price reductions and when potential buyers visit, they walk into a perfect model ...

March 2025 was so eventful that we are creating multiple articles to help recap the Coastal Carolinas Association of Realtors market! 

March was a historic month for Previously Owned Single Family Homes. I’ve provided a breakdown below and used my traditional method of approaching a complex topic by breaking it down into Supply, Demand and What Does This Mean.

Supply:

Previously Owned Single Family Homes had a record setting 888 homes added to the market (new listings) in March. That’s the most in recent history and my database goes back to 2007. Here’s the last 4 Marches (nobody likes looking at 2020): 2024  (710), 2023 (671), 2022 (760), and 2021 (740). 888 previously owned homes bei...

Few flooring materials can match the longevity and sophistication of hardwood floors. In fact, the Palace of Versailles still has its original hardwood floors, first installed in the 16th century. Hardwood flooring is a timeless sustainable material. Whether your interior design is modern, vintage, minimalist, rustic or midcentury, hardwood floors will impart a unique character to any style. Along with its ability to dampen sound and maintain clean indoor air quality, a hardwood floor is an investment that will increase the value of your home. Over the course of their lifetime, these floors can be refinished multiple times to extend their usefulness and beauty. And of course, hardwood flo...

Making your bathroom eco-friendlier is a straightforward and impactful way to contribute to environmental conservation. These simple changes can lead to a healthier planet and a more sustainable lifestyle. Click through to see what you can do at home to be more eco-friendly in the bathroom.

Low-flow fixtures

Installing low-flow faucets, showerheads and toilets can dramatically reduce water usage without sacrificing performance. These fixtures are designed to use significantly less water than their traditional counterparts, helping conserve this precious resource and lower your water bill.

Eco-friendly products

Choose bathroom products that are kind to the Earth. Look for organic, biod...

What is a mortgage modification?

A mortgage modification is designed to provide long-term financial relief to a homeowner struggling with a sudden drop in income or rise in expenses.

Maybe you've suffered an injury or illness that is keeping you from working. You might apply for a modification that lowers your mortgage payment. Maybe your property taxes skyrocketed and you no longer bring in enough monthly income to cover your mortgage payment. A modification can help.

If you've suffered a temporary job loss, you might also apply for a mortgage modification to help lower your mortgage payment while you look for a new job.

Typically, mortgage modifications come in two varieties. Your l...

While Japandi may seem like an unusual mashup of two seemingly dissimilar styles, if we look a little deeper, we can see that Japanese and Scandinavian interior designs have a lot in common. For one thing, both are centered on minimalistic, tranquil and functional interiors. While Japandi may be trending, its roots date back to the 1850s when Japan finally opened its border to foreigners. It was then that Scandinavians began visiting Japan and found an aesthetic and culture that resonated with them.

The principles of Japandi transcend the outward interior design of a home. Instead, decorators pay particular attention to how design supports a healthy lifestyle with deep connections to nat...

Your apartment should be a quiet haven where you can shut out the concerns of the outside world. It is the place to relax and rest. The most important areas to set up in your new apartment are the essentials: a place to sleep, a place to take care of your personal hygiene and a place to prepare and eat food. The good news is that you may already have many of the necessary items from your college dorm or your bedroom in your parents' house. Here is a collection of the most essential items for each room to get you started.

Start with the bedroom

The most important pieces of furniture are a supportive mattress and bed frame. Before you start layering on the sheets, pillows, blankets, and q...

Kitchen appliances need to be functional, efficient, and reliable. Yet why can't they be stylish as well? The answer is that they can be, and colorful major appliances are quickly gaining in popularity. Homeowners have more options than ever before in selecting colors for their major appliances. Appliances in tried-and-true white, black, and stainless steel finishes are still available and should not be disregarded as long as they work for your style. Here are some areas to focus on when purchasing new major appliances.

Stainless steel will remain a popular choice for major appliances. It offers a high-end look to any kitchen and has a surface that is easy to clean or wipe down. Some man...

What is your debt-to-income ratio?

As the name suggests, your DTI ratio measures how much of your income your monthly debts consume. It varies by lender, but most want your monthly debts, including your new mortgage payment, to equal no more than 43% of your gross monthly income, which is the amount of income you earn before taxes and other deductions are removed from it.

But what do lenders include when calculating your DTI ratio? You might be surprised at what debts are left out of this equation.

What makes up 'debt'?

Lenders typically consider regular payments that you make each month when calculating the debt part of your DTI ratio.

These debts usually include your new mortgage p...

In case you aren't familiar with ADUs, they are a second, small living area on the same property as your main, single-family home. They are not a new idea. You may already be familiar with some ADU styles, such as carriage houses, over-the-garage apartments and mother-in-law units. ADUs are an environmentally friendly solution to housing needs. Many municipalities have already adopted zoning laws to make it easier for homeowners to build ADUs on their existing property. It may be a good idea to check with your town's building department for specifics about building these in your community. It's encouraging to know that municipalities across the country have been relaxing their restriction...

February is the month where things typically kick off. The holidays are over, more people list their properties and people who are motivated to purchase a property this year are out viewing property and making offers. For the recap of February 2025, I’d like to split it into two major categories: Single Family homes and Condos/Townhomes.

For condos and townhomes:
Prices dropped from a median sold price of $248,000 in January to $234,000 in February. However, please note, that is only a 1.5% price drop compared to February 2024 with a median sold pice of $237,500. Prices have mostly plateaued for condos and townhomes since May of 2022.

In the Coastal Carolinas Association of Realtors mar...

In Dave Ramsey's Baby Steps, the goal is to obtain financial freedom so that you can live and give like no one else. Baby Step One gives you a $1,000 emergency fund so that if the car needed repairs or the hot water heater went out, you would have a solution that wouldn't totally derail you from paying off your debts. Now that you are out of debt (except your mortgage) it's time to give yourself a true savings account.

Saving up for three to six months of expenses will be based on your individual situation. If you are a full time salaried employee with a stable income in a stable career field, you may only need three months of expenses. If your income is more volatile or your industry is...

Once you have saved your starter emergency fund of $1,000, it is time to tackle your debt. Whether you have very little debt, or are drowning in debt, owing to others and making payments to debts will slow down your goal to build wealth. The way to start is The Debt Snowball:

1. List your debts from smallest to largest. All debts, except for your primary residence mortgage.

2. Make minimum payments on all your debts except the smallest. You may be tempted to focus on things like interest rates, but going smallest to largest will give you focus and intensity!

3. Pay as much as possible on your smallest debt. The goal here is for you to feel a quick win and to have one less bill. This wi...

An emergency fund is insurance between you and life. It is only an emergency if it is urgent, necessary and unexpected. If you have no money in savings, you will need to start from $0 to build up this emergency fund before you can start tackling your debts. Maybe you have several thousand in savings, but also have debts. Everyone's situation is different, and for some people, the $1,000 emergency fund is already done. But the reality is that only 4 in 10 Americans have $1,000 in case an emergency happened. Over half of Americans are in Baby Step One, or need to be. This $1,000 means that if you were to have a car repair, water leak, or ER visit, you'd have the cash to pay for it without i...

The Anderson Team has officially welcomed a new agent to our team, everyone meet Lauren Wood!

When it was time to expand our two person operation, we knew that we wanted to bring on an absolute rockstar. We asked Lauren to tell you a little more about herself, here is what she had to say:

With over 40 years of experience calling South Carolina home, I possess a deep understanding of the area and a unique ability to navigate its evolving landscape with ease. I'm passionate about sports, particularly college football (let’s go WVU) and enjoy spending time outdoors with my family and dog Chanel.

As a valued member of The Anderson Team at Beach & Forest Realty with 20+ years in the real es...

For those of you wondering whether remodeling your basement is worth the time and expense, the short answer is yes. According to The Balance Small Business, homeowners can expect a return of between 70% and 75% on their investment. If you are planning on selling your home in the not-too-distant future, you will want to prioritize projects that will give you the most bang for your buck. A finished basement is certainly a draw for prospective buyers.

How you will finance the project is a major consideration. Rather than take out money from your savings account or place the expenses on a high-interest credit card, there are two other loan options that might work for you. The first is a cash...