Archive for May, 2011

May
25

A New and Improved SCREnews.com

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Pardon our dust…SCREnews has moved from the Blogger platform to the WordPress platform recently.

What does this mean for you?

Well, for a time there may be some broken links. I’ll try to fix them all up, but it would be a huge help if people could report any broken links that they find. RSS subscriptions to our site may or may not need to be updated. If you’re subscribed to the blog via feedburner, then the switch should be automatic, but if you’re subscribed to atom.xml or rss.xml you may have to re-subscribe in the ‘Where to Follow Along’ section of the sidebar.

Hopefully, you will find the new layout just as easy to navigate. As always, I welcome your suggestions.

Thank you for your patience.

Michael B. Dodds, MAI, CCIM

Categories : SCREnews
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May
24

South Carolina Ranks 11th in Disposable Income Growth Since 1960

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– BizJournals.com

South Carolina’s disposable income grew at an annual pace of 7.89 percent between 1960 and 2010, ranking 11th in the country.

On Numbers analyzed U.S. Bureau of Economic Analysis data for disposable income, which is defined as all money earned by all residents of a state in a given year, minus all income taxes and property taxes.

The nation’s disposable income grew at an annual rate of 7.1 percent during the study period, ballooning from $362 billion in 1960 to $11.4 trillion in 2010.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

Categories : South Carolina News
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The State Newspaper had an article over the weekend with a headline of “Main Street on the cusp of a new life.” Over the last couple of months, I informally polled people that I talked to about their plans to visit Main Street after the Mast General Store opens. Almost everyone said that they are going to give Main Street a chance, but they are still very leary of the homeless situation. A college friend of mine stated that he stopped going downtown, unless he absolutely had to, because of the requests for “handouts.” Yes, he said that he will give downtown “another chance”……but only one chance. I know that it is a sensitive subject, and I’m not sure that there is a right or wrong answer, but Columbia has a big opportunity to turn things around. Do city officials realize that there are people that are only going to give Main Street one chance? Will they change the way they manage the homeless situation as shoppers and visitors increase?

I’m curious to hear what you think. Most of the readers of this website are real estate professionals, with a better understanding of what makes a successful downtown than the average reader of The State. Please post your thoughts by clicking on the “comment” link below this post.

HERE IS THE LINK TO THE ARTICLE

Michael Dodds, MAI, CCIM

Categories : Columbia
Comments (1)
May
20

U.S. Hotel Profits Grew 9.8 Percent In 2010

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After two years of declining profits, the average U.S. hotel enjoyed a 9.8 percent bottom line increase in 2010, according to the recently released 2011 edition of Trends® in the Hotel Industry. The gain, however, does not make up for the 37.9 percent cumulative loss experienced by U.S. hotels during 2008 and 2009.

While 70 percent of the properties in the Trends® sample enjoyed an increase in total revenue in 2010, only 60 percent were able to convert that into more money in the bank, indicating that the turnaround in industry performance has not occurred evenly across all sectors of the U.S. lodging industry.
Categories : National News
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May
20

Construction to Begin on 532 Car Garage in Columbia

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Construction of the City of Columbia’s new 532-car parking deck at the corner of Sumter and Taylor streets will begin Monday, June 6.

The garage will be linked to Main Street by a beautified and well lit alley. There will also be a landscaped pedestrian path to Sumter Street. There will be a 5,620 square foot commercial area on the first floor of the garage, located on the corner facing Sumter and Taylor streets. The City intends to sell that space.
Categories : Columbia
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I received an e-mail yesterday from a broker that stated:

“Single-family home developer desires to purchase buildable lots, at least 50 or more in any southeastern US state to hold and develop.  All permitting complete would be more desirable.  Client has proven track record and can move quickly.”

If you would like to contact the broker, please e-mail at the e-mail address on the right side of the website.

Michael Dodds, MAI, CCIM

Categories : South Carolina News
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May
19

Daufuskie Island Resort Sold

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– The Island Packet

A Utah company has bought much of the Daufuskie Island Resort & Breathe Spa from lenders who reclaimed the property from bankruptcy.

The Pelorus Group of Salt Lake City bought assets, including the resort’s core, from Denver private-investment group AFG, according to AFG’s chief operating officer, Don MacKenzie.

Pelorus and AFG officials declined to say what Pelorus paid for the property.

Pelorus, which specializes in acquiring and reviving distressed assets, is “very excited” about the resort’s future and equipped and committed to restoring its status as a destination, said Rob Reynard, an attorney representing the company

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

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May
17

Colliers International Releases Office Report for Columbia, SC

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Click on the photo to access the report.
Categories : Columbia
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May
16

April Same-Store Sales Growth Shows Positive Momentum

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– Retail Traffic

ICSC just released its same-store sales figures for April and it looks like it has been a very strong month. In ICSC estimates, same-store sales growth reached 8.5 percent last month, far above the growth posted in the previous three months of the year.

What seemed particularly heartening was that apparel stores were among the outperformers this time, with same-store sales growth for the sector reaching 11.9 percent. Other sectors that came in strong included wholesale clubs, with growth of 11.6 percent, discount stores, with growth of 10.9 percent and department stores, with growth of 8.9 percent.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

Categories : National News
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May
12

Nationwide Foreclosure Activity at 40-Month Low

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– DS News

Foreclosure activity in the U.S. has fallen to its lowest level in 40 months, according to RealtyTrac.

The company’s foreclosure market report for April shows that filings – including default notices, scheduled auctions, and bank repossessions — were reported on 219,258 properties last month.

That figure represents a 9 percent decline compared to March and is down 34 percent from a year earlier.

It marks the seventh straight month that RealtyTrac has recorded a decline in foreclosures, but the company says it doesn’t necessarily mean we’ve turned the corner.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

Categories : National News
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May
10

Ground Broken for Beaufort’s MidTown Square

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– Beaufort Gazette

A mostly vacant block-and-a-half in the Northwest Quadrant neighborhood is set for long-awaited redevelopment, despite the concerns of some historic preservationists that the approval process for MidTown Square will set a bad precedent.

Developers recently broke ground on a project in the heart of historic Beaufort that, if built to capacity, would include as many as 16 single-family homes and six live-work units.

MidTown Square will fill almost 2 acres that have sat empty for years. It’s also the first plan approved under the city’s new Bladen Street redevelopment district zoning code — a form-based code that focuses more on what structures look like and less on how they are used. It will allow developers to bypass city review boards, which some preservationists oppose.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

Categories : Beaufort
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May
10

The Federal Government is Looking to Sell 14,000 Excess Properties

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The Federal Government is the biggest property owner in the United States, and billions of taxpayer dollars are wasted each year on government properties that are no longer needed. The President has proposed a Civilian Property Realignment Board to help the Federal Government cut through red tape and politics to sell or get rid of property it no longer needs, saving taxpayers $15 billion over the first three years after the Board is fully up and running.

There are roughly 14,000 buildings and structures currently designated as excess and thousands of others that are underutilized. These properties range from sheds to underutilized office buildings and empty warehouses. Over 7,000 of these properties are plotted on this map, zoom in to see Excess Properties in your state and around the country.

LINK TO SEARCH PAGE HERE

Categories : National News
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May
09

Apartment Complex Planned for Daniel Island

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– The Post and Courier

Another sign that the deep freeze that has descended on the housing is lifting: One of the largest new multifamily developments proposed in Charleston since the real estate market tanked is planned on Daniel Island by an Alabama company.

The 270-unit project is slated for review by the city’s Commercial Corridor Design Review Board this week.

The development dubbed “Talison Row” calls for rental units spread over nine buildings. The roughly 13-acre site is at the end of Daniel Island Drive along the Cooper River Marsh.

The complex would include a clubhouse, pool and community garden, according to the plan submitted to Charleston’s Department of Planning, Preservation and Sustainability.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

Categories : Charleston
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May
05

Home Remodeling a Forward Indicator of Housing Bottom?

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– Mortgage News Daily

Builders who specialize in home remodeling are seeing a better market than they have in years according to the National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI) released on Friday. The index rose to 46.5 in the first quarter of the year from 41.5 in the fourth quarter of 2010.
The current RMI is the highest the index has been since the fourth quarter of 2006.

The RMI is based on builders’ perceptions of current remodeling activity and on indicators of future activity such as calls for bids. In addition to the RMI there is an index reflecting each of its two components. Any score of less than 50 indicates more respondents view the market activity as lower (compared to the prior quarter) than report that it is higher.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

Categories : National News
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May
04

Officials Seek Way to Save Columbia’s Bull Street Buildings

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– The State

The windows are open on Bull Street’s historic Babcock Building, and all Mark Binkley can do is sigh and shield his eyes from the sun.
Binkley is the general counsel for Babcock’s owner, the State Department of Mental Health. He said the department has millions of dollars in deferred maintenance projects — so much so they can’t afford to cross the black chain-link fence and close a window to keep out the rain.

This happened because the Bull Street land is worth more than the Bull Street buildings, leaving little incentive to maintain the structures. Columbia officials are now exploring how to create that incentive.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

Categories : Columbia
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