www.charlestonmarketreport.

com

June 2008

In This Issue:
Welcome!
Back in Charleston
Research and Consulting Division
Dash Between the Years
Cartoons
Thoughts While Bored
What Falling Bond Prices Mean to You!
Oil....Black Gold
Credit Crisis: Grim Warnings Re-Emerge
The Stock Market
Housing
The Charleston Housing Market

Here is the soundtrack to this issue of The CMR.

You have to play it before you read this issue.

Play Video
Welcome!
I would first like to welcome many of the new subscribers who are getting this newsletter for the first time.
Many of these new subscribers are local Charleston real estate agents. On Monday I did something I have never
done with this report...I did some marketing. I sent out an email blast to all the local agents in town to notify
them that this website existed and they were welcome to join. There was a huge response but I must warn
the new subscribers that I do not sugar coat the issues at hand. If you do not like hearing reality and the truth
this website may not be for you.

Back in Charleston
A few months ago I had announced I was moving to Sacramento, CA to work with my firm on a large project
with a pension fund. Due to the severe stress in the markets and the current economic mess this country is in
this move has been delayed for the foreseeable future. What my firm and I have decided to do is work on
building our research division which I will spearhead here in Charleston. This will be an enhanced version of
the Charleston Market Report that will begin to take shape over the next few months. I am excited about this
opportunity because I can resume eating shrimp and grits and order sweet tea without getting funny looks from
people who do not speak english. I also get to stay close to family and friends. So Charleston you are stuck
with me for a while!

Research and Consulting Division

The research division and website I am going to build and fine tune in Charleston will consist of the following:
* Institutional Research for Banks, Real Estate Firms, Builders, Hedge Funds, Developers, etc. who want
detailed National and Charleston Market Analysis that consists of "Top Down" economic and real estate trend
analysis of the Tri-County and Sub Markets that is segmented in a manner where proper risk management can
be applied.
* Custom Market Analysis for the Tri-County for real estate professionals who need help with investors,
proposed developments and Highest and Best Use Analysis. This can be performed all the way down to the
neighborhood and street level.
* A website that will allow real estate professionals, buyers, sellers and investors better data and analysis for a
fee which will help provide more transparency and analysis of the market.
* All of these projects will center around providing the real estate community better transparency and risk
management tools for this market.

I have a proven track record of doing market analysis in this market on such projects as The Cigar Factory,
Lakeside Villages, Ashley Lakeside and other projects. If you are looking for market analysis that focuses on
detail, trends and risk management feel free to drop me an email or call me. The Market Studies I perform are
unique and very different from the "canned" stuff being done by out of town consultants which many of you are
paying the big bucks for right now. Think of these Market Studies as a VERY cheap insurance policy and
independent third party opinion on projects that will prove to be costly if not evaluated properly. The free
version of the Charleston Market Report will end soon but I do not have an exact date yet. Folks, I have poured
my heart and soul into The CMR and given away very valuable information for free the past two years. When
the time hits and you want to be a Charter Member of what I develop then you will have that opportunity when
we are ready. The future fee will not break your bank account so do not worry. So if you have family, friends
or co-workers who may want to get access to this info tell them to sign up as a subscriber so they can get the
special rate when we are ready. I can guarantee you that if you like what I have been doing on this site for the
past two years then "You aint seen nothin yet!" I will keep you posted on how this project transpires. In the
meantime enjoy the "United Way" version of The CMR and I appreciate everyone's support.

Dash Between the Years

I recently lost a dear friend who collapsed on the soccer field and passed way. When I went to his funeral one
of his best friends read the following poem. Please read it carefully. It is important to put life into perspective
during these difficult times.
The Dash Between the Years
For that dash represents all the time That she spent alive on earth... And now only those who loved her Know
what that little line is worth. For it matters not, how much we own; The cars...the house...the cash, What
matters is how we live and love And how we spend our dash.

So think about this long and hard... Are there things you'd like to change? For you never know how much time
is left, That can still be rearranged. If we could just slow down enough To consider what's true and real, And
always try to understand the way other people feel.

And be less quick to anger, And show appreciation more And love the people in our lives Like we've never loved
before. If we treat each other with respect, And more often wear a smile. Remembering that this special dash
may last only a little while.

So, when your eulogy is being read With your life's actions to rehash... Would you be proud of the things they
say About how you spent your dash?

by Linda Ellis

Cartoons
It's Complicated
The stock market, the economy and finance all have an impact on real estate. The only problem is that this
world economy we now live in is complicated like the new Denise Richards Reality TV Show "It's
Complicated." If you want to watch a train wreck check out that show on Sundays at 10pm on E!
Unfortunately, Densise is not nearly as bad as a trainwreck as our economy is right now.

Seriously, it is very difficult to piece this complicated puzzle called "The Denise Richards Economy" together
with all the smoke and mirrors, nonsense and noise you hear on TV, certain Blogs and the newspapers each
day. I feel over the past two years I have demonstrated some clear and truthful analysis which has been
accurate in order to simplify this "Denise Richards Economy." I hope this newsletter helps you cut through the
bull and helps everyone make better investment and risk management decisions.

So welcome to the NO BS ZONE everybody!!!! Do not wory there are no cofee cups or stupid T-Shirts for
sale here. Then I would have to promise you I would donate the profits to charity like Bill O. I wonder what
percentage of profits actually goes to charity? Things that make you go hmmmm?

Thoughts While Bored

* I wish I had a dollar for everytime someone asks me have we hit a real estate bottom.
* Who are you going to vote for? Barack Hussein Obama or John "I have a hot sugar mama wife" McCain?
Does it matter?
* Tiger Woods is NOT from this planet and is a freak. How can you be so much better than all the other best
players in the world with ONE LEG? Maybe he is from that planet where Superman came from and the PGA
Golfers need to start wearing kryptonite so they can win when Tiger shows up.
* How did we get two presidential candidates who know NOTHING about the economy during a time when
we need a economic genious to be elected in November?
* The Main Stream Media (MSM) does not understand the oil issue and the politicians are a bunch
of hypocrites which we will talk about later.
* If the politicians want someone to blame about high energy prices then all they need to do is look in the
mirror!
* Those who are in a crowded profession and are not making any money need to go read "Who Moved My
Cheese?"

What Falling Bond Prices Mean to You!

Whether you are in real estate or the stock market the action of the TNX and TYX are very important. The real
estate agents out there should listen carefully because this is where you add value with your clients and kick
your competitors butts. We all know The Fed at the direction of Ben "Bunyon" Bernanke has slashed short
term interest rates to help kick the economy in gear. Unfortunately, this policy has caused us all to experience
an increase in inflation as they have increased the money supply. Unfortunately, The Fed does not control long
term rates or mortgage rates which have a direct impact on a homebuyers wallet. Inflation and economic
growth are strong outside of the US which is pushing interest rates higher and bond prices lower. Fixed income
101: When the price of a bond decreases the yield increases because they have an inverse relationship.

I use the 10 year yield (TNX) to help me determine where mortgage rates are heading. I use Technical Analysis
to evaluate this trend. Unfortunately, the trend is not our friend when the TNX is increasing because this is
pushing mortgage rates higher.

This has a negative impact on the homebuyers out there that are trying to budget a monthly payment on that
beautiful new home in Charleston. If we see rates continue to accelerate higher this could push home prices in
Charleston down further. Monitoring the mortgage rates should come into play when you are listing a house
right? I hope it does and you need to communicate this to your buyers and sellers. If you are listing a house the
seller needs to realize that he may not be able to price it as high as we would like if he has a 5% mortgage rate
when the prospect buyer may be facing a 6.5% rate. Right? The rates and spreads on Jumbo Mortgages are
even worse which may explain why the high end part of the market is struggling more than the lower end. If
you are an investor and you have money invested on the long side of the bond you may want to change that
strategy as the prices on those bonds will continue to drop if this trend continues.
 Oil...Black Gold

The hot topic of the day...Black Gold. I warned you soccer moms in Mt Pleasant to sell your suburbans back in
January. It must run a bill to fill that gas guzzler up now. Anyrate, everybody is up in arms about oil and gas
right now. Now this is a real complicated deal. This puts hot babes like Denise R. to shame. Obviously you
hear different "experts" come on the news each night and try to brainwash you for their own political interest.
The fact of the matter is that oil is up because of speculation, supply and demand, nationalism, a lower dollar
and saber rattling in the Mid East. Let's discuss.

The stock market is telling us that oil in futures terms is in a bubble because there are calls for $150 per barrel
while the futures market is well over $135 per barrel. Oil execs would be drilling more on the land they own if
they thought $135+ per barrel prices were sustainable because this would make them even more profitable than
they already are right now. Currently, many developing countries subsidize the price of oil to their citizens so
they can afford gas. You can find $1 gas in places like Iran, Nigeria and Venezuela because they have the
supplies and government control to keep prices down.

Reality is that after years of running huge deficits because Washington DC does not understand the word budget
and allowing the dollar to lose value is a main reason $4 gas is probably here to stay for a while. If you are an
OPEC member being paid in a currency (dollars) that is worth less and less each day don't you think that has an
impact someway on oil prices? Absolutely!

Supply
US production peaked in 1970 at about 9.6 million barrels a day. Today, we import approximately two-thirds
of our oil. Although our fearless leader, W, said we were addicted to oil (Most important FOREIGN OIL) a
couple of years ago what has he and the clowns in DC done about it? NADA...nothing. US oil and gas
inventories are down considerably since March.
Demand
There are 10 million new cars and trucks in China, which means 10 million less Rickshaws and bicycles.
Millions more coming on the road in India and other emerging countries which are sucking up the supplies.
Supposedly, the Chinese like the SUVs and Hummers much more than the small cars. Sound familiar
America?
* Accelerating decline in net oil exports. The real problem is that many of the world's exporters are now at their
peaks.

* Decline of oil in Mexico. In April, Mexico's oil output fell to a nine year low of 2.8 million barrels per day
because of a decline in one of their giant oil fields.

Nationalism. The problem is the oil we love and crave so much is controlled by many of our worst enemies.
Hugo Chavez, Putin and The Iranian Lunatic just to name a few. We have no bargaining power when it comes
to oil. Why do you think our politicians are constantly going to Saudi Arabia. You think they like having
to brown nose the OPEC jerks? We could care less about them if they did not have Black Gold and they know
it.
Speculation. Oil is controlled by an elaborate financial system and four major companies. The major oil
exchanges are located in London, New York and Dubai. The development of unregulated international
derivatives trading in oil futures over the past decade has opened the door for more speculation in oil prices. In
January 2006, the Bush Admin. permitted the use of unregulated electronic exchanges such as ICE(London),
which are exempt from oversight, to begin trading West Texas Crude Oil. People within the US who looking to
trade energy commodities in large volume are now able to avoid US market oversight or reporting requirements
by sending their trades through the London Exchange (ICE) instead of the NYMEX. So guess who are these
major firms who have the monopoly on oil futures? One guess. Where does my man Gordon Gekko hang out?
If you answered New York you are correct. The leading energy trading firms are Goldman Sachs, Morgan
Stanley, Citigroup and JP Morgan, who just bought Bear Sterns. What a cowinkidink!!! Lets see where these 4
firms stand in the "Write Down Nation" contest.
These are same firms where the Mad Scientists discovered how to create structured finance aka Exotic
Mortgages in the mortgage world that created the real estate bubble. These are some of the same firms that
were recommending Pets.com and other dot coms before the NASDAQ meltdown. Why does it seem like
everytime there is fire and meltdowns on Wall Street some of these firms names continously pop up? If you
were running one of these 4 firms and your balance sheet is bleeding to death and deleveraging would it not
make sense to try and make some quick hefty profits in other areas where you can control the market to some
extent? It makes you wonder doesn't it? What is real big market that if you had trading control where you
could make fat cash? It is a three letter word.....OIL.

Middle East
Israel is very concerned if the the lunatics in Iran develop a nuke. I do not blame them. Do you? If this
happens then Iran can sell the technology to all of their terrorist buddies in Syria, Lebanon, Gaza and The West
Bank and whoever else these nutjobs hang out with. The Lunatic Leader of Iran who reminds me of Hitler
constantly talks about wiping Israel off the map. If you go to www.debka.com you will find the most recent
and up to date info on what is going on in the Crazy East. Israel may also be in a race against time if they are
nervous about Barck Hussein Obama becoming the next president which is a possibility if we have a stock
market meltdown. This guy not only hangs out with far left lunatics but also shmoozes with many of the
Palestinian cronies who are not a friend of Israel. Obama also wants to sit down and "talk" to Iran. I am so sure
that would be productive. Obviously tension in the Middle East is putting further upward pressure on oil.

So there you go. It almost feels like a perfect storm for oil right now. I really feel like we are experiencing a
paradign shift with regards to oil right now. Many of us are just going to have to adjust to a world with higher
fuel costs until the powers that be really spur the development of alternative fuel. This new upward trend in gas
will also impact the way most live in the future. Many people will have to move closer to work and out of rural
places. McMansions and sprawl will most definitely be adversely affected due to higher electric bills and the
new cost of getting to work. Dana Beach who has been a major advocate in Charleston against sprawl and
destruction of natural resources just had a bunch of heavy lifting done for him due to the recent oil shock.
Developments that will not require use of the car and are close to commercial areas should thrive as people
want to move to areas that reduce the reliance on higher fuel costs. Many people may start trying to live in
smaller homes that are more energy efficient so their electric bill does not feel like another mortgage payment
each month.

This is why I discuss these issues in The CMR. They all have an impact on real estate.

Sources: John Mauldin: Whither the Price Oil?

Money and Markets
F Engdahl: Geopolitics-Geoeconomics
Chart: bankimplode.com
Credit Crisis: Grim Warnings Re-Emerge

June 18: RBS sends out a red alert, warning private clients to prepare themselves for a full fledged rout in
equities and bond markets in the next three months, with the S&P losing 300 points, or nearly a quarter of its
value, by September. Also: iTraxx index of high-grade corporate bonds could soar to 130/150 while the
"Crossover" index of lower grade corporate bonds could reach 650/700

June 18: Paulson&Co hedge fund chairman says writedowns could reach $1.3 trillion compared to $380bn
reported so far (IMF April 2008 estimate: $950bn). Paulson is a stud and made $3.7 Billion (With A B!) in
2007 by investing wisely on the credit meltdown.
 Nobody on Wall St. has a crystal ball and can accurately predict how many points an index is going to gain or
lose in certain time frame. The best way to invest is manage your risk and block out all the noise you hear in
the press. What gives Wall St. the right to trot out their Haaaaaavard or Yale alumni, elite analyst out on TV to
tell us what to do with our money? Use someone who has independent research NOT the clowns inside their
firm. All these analysts do is pour over financials that have been cooked by certain companies that are not
disclosing the truth in their accounting numbers. This is why I use technical analysis because TA is not some
elite, know it all with a hidden agenda who is afraid to disclose the truth with the risk of being fired by their
firm for saying investing in ABC Company is nonsense because the Investment Firm is afraid of losing some
sort of business from ABC Company. Do you think the banks with investment analysts are scared to death of
putting a SELL Rating on a company that they have huge amounts of institutional banking biz with?
Absolutely!

A recent article in Bloomberg does a fantastic job of exposing these clown analysts on Wall Street for what they
are worth. In the article, Analysts Lose 17% for Investors in Brokerage Picks it is disclosed that:
*Of the 39 analysts tracked by Bloomberg who follow stocks in the Amex Securities Broker/Dealer Index, 32
produced losses for investors. Investors who bought brokerages on ``buy'' recommendations, sold when they
switched to ``hold'' and speculated prices would decline when analysts said ``sell,'' lost 17 percent in the last
year through June 3, compared with the S&P 500's 8.5 percent drop.
*Analysts lost influence after 10 securities firms paid $1.4 billion in 2003 to settle allegations that they used
tainted research to promote investment banking clients. Regulation FD, a Securities and Exchange Commission
rule implemented in 2000, prevents companies from disclosing information to analysts that they don't tell the
public.
* ``One would expect that if there was any industry Wall Street estimates would be more precise on, it would be
their own,'' said Richard Weiss, who oversees $60 billion as chief investment officer at City National Bank in
Beverly Hills, California. ``But this particular debacle was so global in nature and pervasive, you can't blame
them for missing this one.''

Below is the proof how bad many of these analysts truly are. Great job Bloomberg!
I blame them Mr. Weiss. How could little old me who graduated from the College of Knowledge (Charleston)
see it coming in 2006? The reason is I learned on my own when I was a stock broker not listen to analysts who
worked for any of the large banks or brokerage houses because they traditionally suck.
Souce: Bloomberg.com

Not only do these elite, know it all, Ivy Leaguers consistently make poor recommendations but they also are the
Mad Scientists who were responsible for the structured finance that put this real estate market into a bubble by
artificially inflating it with the invention of the exotic loans that were used by buyers to purchase overpriced
real estate all over the country just so the fat cats on Wall St. could continue to line their pockets. Some of
these guys on Wall St. believe that leverage ratios of 30:1 or 40:1 are ok. They believe that they are
quantitative geniuses who can invent black boxes and trading systems that will outsmart the market. It is the
same egotistical belief system that the genius PhDs at Long Term Capital Management believed in until their
Hedge Fund blew up. Folks, models do not work. Most of your PhDs are economists who do not know
anything about investing. They only relate to quantitative theory oriented systems. They refuse to use the first
and most important law of Economics 101 which is SUPPLY and DEMAND. Why? At the end of the day
whether it is real estate,securities, bonds, etc market liquidity is all about market structure and transparency.

The Stock Market

Just recently, the main indicator I watch for risk in the stock market switched to defense, which means there is
higher risk in the market. There are many ways to prepare for "the tide going out" such as setting stop losses on
stock positions, buying puts, etc.
This market is currently dominated by sector rotation and individual stock selection NOT investing in the S&P
500 or other indexes. So be careful out there if you are an investor as we watch the volatility increase in the
market. There are some risky trends rearing their ugly heads right now and the risk is higher than normal. This
does not mean every stock will go down. You have to evaluate your own portfolio with your advisor and set up
a game plan. If you "buy and hold" with weak positions you could see some problems occur in your portfolio.
2008 has been one of the most volatile years in the past 25 years for equities and this appears as though it will
continue through the second half of the year.

Lets take a look at some sectors that are doing very versus others that are getting crushed.

Two sectors getting killed right now are the Bank Index and Homebuilder ETF.
Next is the S&P SPDR Homebuilder Index
(XHB)

Then there is the Oil Service sector which of course has done extremely well.
So it all depends on how you have positioned your money. There is almost always a bull market out there
somewhere but you just have to know where to find it.

Housing
Robert Shiller, an economist from Yale, made this chart which stretches over the past century. Based on
Shiller's calculations this shows the housing market is already worse than the Great Depression on a national
scale. This is due to the really horrible markets in California and Florida that are really feeling the pain the pain
right now. Nominal prices dropped 10.5% in 1932.
Toll Brothers CEO on Housing

Video

Notes:
* Business is still slow.
* There is currently no demand.
* Sales are worse than what the government is reporting due to the way they factor cancellations.
* I give Mr. Toll credit because at least he has the gahoonies to get on camera and tell the truth.
* I wish my company was not a "One Trick Pony" that can only make money by building homes during a time
where there are enough homes. My business model sucks because we are not a diversified business that can
adapt from the "Go Go" Days to a time where real estate is struggling. No he did not really say that but I am
sure that is what he is thinking.

Were You Aware?

* Housing prices from 2000 to 2005 rose 160% nationwide.
* In Japan, its real estate market rose 210% from 1979 to 1991. It then declined from 1992 to 2004 giving up
all its gains!
* Prices of real estate in Japan currently sells for less than it did in 1979.
Given the experience in Japan and the Great Depression there is a possibility that real estate prices could remain
soft in certain parts of the US for the next 10 years.

Price Corrections Not As Bad As Reported

The emergence of the national indices are interesting but when it comes to evaluating real estate you are
typically dealing with a neighborhood or 5 mile radius of the subject to determine the estimated value of a
home. The data I put in The CMR does NOT substitute a detailed appraisal or market analysis because of all
the differences from one home compared to another. There are certain areas of the Tri-County that are
peforming poorly and other areas that are doing fine. The market must be segmented down to the micro level in
order to determine if the home you are buying or selling is being effected by the macro trend.

John Burns writes that the problem is that there has been a tremendous shift in the activity of what is selling,
which is impacting even the best price indices, such as Case-Shiller-Weiss. Here is what you need to know:

1. Small Sample Sizes: Home buying activity has plummeted, which has significantly reduced the sample
size of what is selling. Our research shows that sales volumes have plummeted back to early 1990s
levels in many areas of the country. A low sample size reduces the validity of the conclusions.
2. Dominance of Foreclosures: Today, the low sample size is dominated by foreclosures and short sales.
In Sacramento last month, 65% of the sales volume was a foreclosure or short sale. Our research shows
that foreclosure sales are heavily concentrated in certain submarkets, which is generally the poorer
inner-city areas and the most outlying areas.
3. The Use of Median Prices: Median prices are the best measure to track because the median-priced
home is the home where half of the homes sold are more expensive, and half are less expensive. In
normal times, this home represents a 20-year-old, 1,600 square foot detached home in a typical suburb.
Therefore, in normal times, comparing year-over-year price changes is relatively representative of most
homes in the market. However, the median transaction today is more likely to be 1,400-square-foot, less
desirable home in the inner city or a new home sold at auction.
4. Bigger Price Declines on Distressed Home Sales: The most sophisticated measures like Case-Shiller-
Weiss only examine the price changes on the same home, so the mix shift is supposed to be eliminated.
However, when more than 50% of the activity is a distressed sale, the median transaction is a home that
was sold under duress and in a severely distressed neighborhood. This is not representative of the value
of most homes in the metro area.

While the housing market and banking industry are under severe duress, it is important to know that most
homeowners have not seen the decline in home value that is being reported in the newspaper. As always,
we emphasize that the best decision makers use the most accurate information to make decisions.
Source: Johns Burns RE Consulting

Charleston Real Estate

It appears to me that we are in a very price driven market right now. I have done some recent market studies
that prove this statement. If the average median income in Charleston is approximately $45k how do we expect
people to afford homes on the high end of the market. I know, I know the super rich baby boomers are coming.
Well they have plenty of choices right now! If you are a builder, developer or agent involved in development I
would highly recommend you call me before you build a "White Elephant" worth millions of dollars. The
market studies I perform could potentially save you a great deal of cash by going into the specific market you
are evaluating by measuring trends and other important economic variables.

Below is an example of a market specific trend chart I recently used in a market study for a developer. You can
see the significant decrease in Price per Square Foot. I do not want give out the location of where I did this
study because this is information I get paid to provide and not give away. The main point I want to make with
this simple chart, which consists of hundreds of transations, is to show how much this specific segment of the
Condo market in Charleston has decreased since 2006-07. If you are a developer who believes you can build
condos in this area for $150-160 PSF and went ahead and built this project in Charleston you may have a major
problem. We see this all over Charleston where different developers have gotten caught not watching the trend
and believed "If I build it they will come." It ain't happening folks. There is a shadow inventory that does not
even show up on the MLS of proposed and/or under construction inventory that is VERY scary. It would put
years on the already bloated inventory numbers we already have if these homes are ever built. I can not tell you
how important it is to do your due diligence right now. How many of these developments in Charleston even
had market studies? If market studies were performed I sure would like to see them because the "writing has
been on the wall" the past 2-3 years regarding a major change in Charleston real estate trends. Those of you
who have been long time readers of The CMR are aware of what I have been discussing since the website was
started. If not you are welcome to go back and read all the past reports and see for yourself.

So if you are looking to do certain real estate projects in Charleston or have an exisiting project you need help
on please feel free to give me a call and we can discuss it. These type of studies could be used not only for
developers but many of you real estate agents as well that need help with listings or may be working with a
buyer. I can customize this data for any project in Charleston.

I have a quarterly CMR report due next month and I will go in more detail about the local market in that report.
Below are are the basic inventory/sales numbers for SFR and Condos/Townhomes. Clearly these four charts
show that the more expensive side of both the SFR and Condo/Townhome market is worse of than the lower
end. You must remember that these charts represent very basic macro views of the Charleston market. In order
to see specific trends you must perform much more detailed market segmentation that represent your subject
property. This is much more time consuming and requires more research.

Obviously 36 months of inventory for homes greater than $600,000 is downright scary. Somebody is paying
the mortgages on 3 years worth of inventory out there that is not cheap. I smell more price declines on the
upper end of the market. The condo/Townhouse market is high as well. If I showed you the "Invisible
Inventory" numbers you would fall out of your chair. The MLS shows over 2 years worth of inventory on the
$600k+ market. It is worse than this appears.

So there you go. I know I crammed a bunch of info in this report but that is how it usually goes. I almost need
to do a report once week to keep up with everything going on but that is not in the cards right now. I hope
everyone has a nice 4th of July!

Tri-County SFR
$0-$599,999

Tri-County SFR
$600,000+
Tri-County Condo/Townhomes
$0-$599,999

Tri-County Condo/Townhomes
$600,000+
 Disclaimer
The research done to gather the data in The Charleston Market Report involves examining thousands of
listings. With this much data inaccuracies will occur. Care is taken in gathering and processing the data and
information within this report is deemed reliable. IT IS NOT GUARANTEED. The real estate market is
cyclical and will have its ups and downs. Past performance cannot determine future performance. The purpose
of the Charleston Market Report is to educate you on current and consistent market conditions by reporting
leading market indicators with the support of traditional real estate data.

This information is offered with the understanding that the author is not engaged in rendering legal, tax or other
professional services. If legal, tax or other expert assistance is required, the services of a competent
professional are recommended. This is a personal newsletter reflecting the opinions of its author. It is not a
production of my employer. Statements on this site do not represent the views or policies of anyone other than
myself.

Investing in real estate is not a get-rich-quick scheme nor is there any guarantee you will make a profit. Every
effort has been made to make this report as complete and accurate as possible. However, there may be
mistakes. Therefore, this report should be used only as a general guide and not as the ultimate source for
making money in real estate.