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November 28, 2009
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  CONDITIONS™
By Local Real Estate Experts  


Market Conditions for Lake Murray, South Carolina

Reported by Rosemarie Averhoff, CRS &Kirstin Averhoff-Gilbert, CRS, CRS - CSP - ePRO - ABR - ASR - GRI - Broker Associate

Updated November 8, 2009.

Current Market Rating: 2




1
2
3
4
5
Buyer's

Seller's

Current Price Trend: 4




1
2
3
4
5
Falling

Rising

As of 11/8/2009 the AVERAGE List and Sales Prices with at leat 100' on Lake Murray to report (that is all of the areas from Irmo, Chapin, Lexington, Leesville and Newberry):


Active 215 $716,272 3,312.00 $216.25
Pending 12 $423,783 2,162.00 $195.98
Closed 8 $539,437 2,915.00 $185.02

Information Herein Deemed Reliable, but Not Guaranteed. © 2009 by CMLS 11/8/2009 12:58:41 PM


The highest SOLD property 108 CHEROKEE ISLE COURT 2 SN 4 4/0 4,586 05/14/08 $950,000 $207.15

The highest pending sale is 233 COUNTRY LAKE DRIVE SN 3 3/0 3,074 05/25/09 $699,900




Looking for that Lake Murray property? With the still low interest rates and prices now may be a very good time to lake property. Prices vary by feet on the water and the view, to deep year-round water and of course the size adn quality of home and lot.
The view and good year round water dictate the price. You are required to have at least 100 ft on the lake to get a dock permit and that is not a guarantee that you will get a permit for one. There are properties on the lake that are not allowed to have a dock because SCE & G owns the fringe land in front of it. Many communities have a community lake access ramp or dock. New deveopments have a community dock and boat slips. That is going to be evaluated by SCE & G as well to proctect the lake and it's wildlife. Please contact us for further information if you are interested in Lake property or any other property

Not every real estate market is the same. Please check with is if you are thinking to sell and buy.br>
There are a more properties for sale than buyers looking to buy. Interest rates are still low and it is a good time to buy in the Columbia and Lake Murray area.




All real estate markets are unique and influenced by local demand, local land-use and building rules, and a host of other factors one cannot see from the generalized scope of national news coverage.

Please contact us for more details for buying or selling real estate.
It is a great time to purchase a home with the interest still. It is not too late to collect $8.000 after closing from your taxes if you can close by 6/30/10. You have to have a contract in place no later than 4/30/2010 to qualify. The same applied for MOVE-UP Buyers. They may qualify up to $6,500 for the same time frame. We have lender contacts that work also with a credit scores 620. We look forward to hear from you and to assist you now or in the future.

The State Paper reported 9/30/09 that US News puts Columbia in the 10 most affordable places to retire to.

Please contact us for assistance whether you are buying, selling or need our services for both.
We look forward to hear from you and to assist you now or in the future.
Thank you,

Rosemarie & Kirstin



ZIP Codes: 29036, 29072, 29212, 29063

Approximate Location Boundaries: Towns around beautiful Lake Murray are: Irmo, Chapin, Ballentine, Newberry, Lexington, Gilbert, Batesburg, Leesville. I-20 and I-26 are closeby

Location Characteristics: Lake Murray has 620 miles of beautiful shorelines (per Lake Murray News 7/2/09). It covers approximately 50,000 acres of land (or 78 sq. mi) and offers a variety of recreation and fine living. Construction started 1927, competed 1930 named for William S. Murray, engineer.
The dam is 215 Ft high, the Lake's width is 14 miles and lenght is 41 miles max. Full Lake level is 360 Ft.
The intake tower height is 223 ft


Hwy 6 going across the dam was widened from a 2 lane to a 5 lane street (Lexington to Irmo)
A BIKE LANE and WALKING PATH were added going across the dam. Free parking on the Lexington side for walkers. Many walkers take advantage of it daily, so are bicycle riders catching a breeze and enjoying the view.

The completed dam holds more than 6 million cubic yards of concrete. It rises 207 feet above the river bed. The length of the dam is 2300 ft.




Lexington side has a public beach/recreation. Open 7 days a week from April 1 to Sept. 30 11am to 8 pm Mon-Fri, 10am to 8pm Sat - Sun. Irmo-side Boat ramp open 24 hrs (picnic grounds)

Estimated Cost: $275 Million the Roller-compacted conrecte mid-section of the dam weighs 5.1 billion pounds complete. It took 1.7 million hours to build.

Water levels change rapidly due to energy needs and the hydro-electric generator plant controls levels of the Saluda River and Lake Murray. scana.com may have mopre details for you

Fishing is popular for Striper, Largemouth Bass, Bream and Crappie.

Purple Martins elected Historic Bomb Island every year for their summer home. You can take a Purple Martin Cruise in July and August around $27 Adults and $10 Children 2 1/2 hours (pls verify that has not been changed). Experts have estimated in the past that more the 2 million birds roost at Lake Murray each night during the summer months. It is a breathtaking view that many people watch at night.

Lake Property has gone up in price over the years. Many gorgeous properties are available. Call us and we help you find the right home and also help you list and sell it. Prices range easy from $400's to several million. The lower priced homes will not have year-round water and possibly only lake access. You need a minimum of 100 Ft on the lake for a dock permit, SCE & G checks out your plans for a dock to give it an approval, it also decides the location and if the 100" are enough for a dock. Call us, we can help you find the right property for you. Sept. 08 News Upate in the State Paper: the dock requirements may be changed from the current minimum of 100 Ft to 200 Feet on the water to protect the shore line.Some dock owners may have to share their dock in the future. We'll keep you updated on this decision.

US News reported recently (per The State Paper 9/30/09) that Columbia is in the 10 best affordable places to retire to. They said that "Retirees want a more diverse set of opportunities and they can find that in a university town".
US News said it "thought out places with low cost of living and reasonable housing prices that still offered access to the services and amenities that people should look for in an ideal retirement spot"

Not every real estate Market is the same. Every market is DIFFERENT!

If you are interested in buying and or selling please call us and we gladly show you what our market is like. We look forward to hear from you and to assist you now or in the future.





For More Information:

View Market Conditions of other areas served by Rosemarie Averhoff, CRS &Kirstin Averhoff-Gilbert, CRS

Navigate: Top > South Carolina > Lake Murray

About Rosemarie Averhoff, CRS &Kirstin Averhoff-Gilbert, CRS:
Whether you move down the block, across the country, the city, or to anther continent...
Please give us a call. We can assist with all your real estate needs now or in the future.
Our business is built on referrals and repeat business. I have sold a millions of dollars in Real Estate since 1993, Kirstin since 1996. We are both Certified Residential Specialists CRS and Certified New Home Specialists CSP

We are relocation specialists and like to represent you with a NEW home or existing home purchase. We have access to any listing.

We look forward to assist you now or in the future.




These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.




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