Point of Sale is Choking South Carolina

State Must Address POS Policy; Schools Suffering
This article in The State Newspaper may seem long and a little boring to most people, but the subject matter is sort of a big deal.

The POS “Point of Sale” policy that was voted on in 2006 has not only affected real estate sales, but our schools as well.

Here’s the rub; When we voted for the property tax relief provision, we were largely voting for a tax break on our primary homes. Great! The plan was to replace this with a larger tax on secondary homes, investment and commercial property. To help even more, we inched up the sales tax on goods sold. Sounds wonderful!

Here’s the problem. Taxes on investment property has absolutely skyrocketed. Commerce has all but halted in the commercial real estate industry and out of state investors are taking their money elsewhere. That’s only one side of the story.

The other problem is that even though the sales tax on goods was increased to compensate for the property tax reduction …No One is Buying Anything!

I have to admit I thought it was a great swap. Actually, almost all of us thought that it was a great idea for us to lower our four digit property tax as we “financed” it via purchasing a computer, tennis balls or whatever you can think of.

The logic runs far deeper than I can type about in this post. All I know is that something has to be done and soon.

Out of state investors are tearing up their sales contracts, rental properties are now “upside down” every month and some schools can’t even afford substitute teachers. The entire new system has created at plethora of problems.

The reason the law is going to be so difficult to alter is because taxes on primary homes has been reduced, which we are all in favor of. Since it’s obvious no one wants to change this part of the law, we’re in a precarious situation.

I don’t have the perfect answer, but something has to happen…quickly.

Columbia’s Shady Ln. for $299,000?!

This great house sits on one of Columbia’s most popular streets. Shady Ln. is a long flat street that connects the “Lake Katherine” area to the rest of the world.
This particular house has almost 2,000 sq.ft and features 3 beds and 2 full baths.
The home has hardwoods, a kitchen with granite that opens to the den and an enormous master bedroom. The large flat backyard has a nice deck and is ready to entertain kids and adults.
As attractive as the house/price is, the neighborhood is the real story. The area is perfect for walkers/bikers and the kids in the area attend popular Brennan elementary school.
Call/email for more details. The home is offered for $299,000.

Gamecocks Clinch 1st Round Bye

USC Basketball Benefits From Kentucky Loss

I got an update from someone that USC officially locked up a “Bye” for the first round of the SEC tournament. Since I knew Carolina didn’t play tonight, I had to do some digging.

Good luck to the Gamecocks tomorrow night against Tennessee. A bye in the tournament is great and all but an SEC Championship would be over the top, especially since this is Coach Horne’s freshman year. How impressive is that!?

Rosewood Townhome Only $127,500!

3845-I Overbrook in Rosewood is For Sale

This awesome townhouse has almost 1,260 sq.ft. and 2BR/2.1Baths.

The “almost new” home is located in a popular in town Columbia neighborhood and is 5 minutes to anything downtown.

Virtually maintenance free, this Rosewood home is waiting for the perfect buyer to take advantage of USC, Midlands Tech and/or anything that has to do with 5 Points.

Call or email to see one of Columbia’s best priced town homes. This one is ready to go at $127,500.

Awful Night for Weather Personalities

>Columbia News Personalities Take Brunt of Blame

Schools and businesses were closed, TV shows were interrupted, local beat reporters were sent to the outskirts of the county and the city’s emergency response nerve center was all booted up. It rained.
I don’t know how much the local news meteorologists but they got avalanched tonight on social media sites like Facebook.
They certainly do their own research, but I have to think that they have to rely on national weather experts for their information. Huge amounts of money must be spent to prepare for a snowstorm and enormous amounts of work hours are lost as businesses and schools are cancelled. On the other hand grocery stores are packed. After everthing is accounted for, I’m sure it’s a huge net loss.
Sunday’s entire 11pm news broadcast (except for a few minutes of Gamecock sports) was prepared in anticipation for the big snowstorm. It didn’t happen. I feel sorry for the local “messengers” that report the news.
Columbia’s kids are dissapointed but this is a good lesson in ‘Safety First!’

Columbia’s Newest Listings

>>Columbia’s Hotsheet Feb. 11 – 26, 2009

Classic Shandon Bungalow Hits Market

This classic brick Shandon bugalow sits on one of Shandon’s most popular streets. This home boasts just over 1,600 feet and has 3 bedrooms and 2 full baths.
3308 Wheat has nice hardwoods, smooth ceilings, great kitchen, nice master bedroom and a large screened porch to watch the walkers and bikers that Shandon is famous for. The back deck overlooks a manicured backyard that features a great wired storage building that sits on a concrete slab.
The reason this Shandon cutie is a little larger than most bungalows is because a true master bath was added onto the original house.
Welcome to Shandon…where residents can walk to anything on Devine/5 Points and five minutes to anything downtown.
There will be an Open House at this home on Sunday the first weekend in March.

Learn What a “Trillion” Really is

WOW! This Piece Makes You Think

As I was cruising around Facebook tonight, I noticed one of my buddies updated his blog with an interesting story on YouTube from CNN. Thanks Nathan!

The story speaks to how much money a trillion dollars ($1,000,000,000,000.) actually is. Some of their illustrations are actually quite amazing.

The mathematician sort of hits the nail on the head. The public hears the words million, billion and trillion and doesn’t really ‘feel’ the difference when a politician or economist spouts out ‘illions on TV. OH how they’re different. Pretty interesting…

Give Credit Where Credit is Due

Joker Meets Oscar – Well Deserved

I don’t know much about acting. Actually, I don’t know much about Hollywood. However, I do know that when I was sitting in a theater at the beach watching The Dark Knight, I was seriously impressed.

When we showed up, I bought our ticket expecting to watch Batman do his thing. Enter Heath Ledger as The Joker.

The late Ledger completely stole the show. He was gross, happy, awful, nasty, ugly, disturbing, funny and sometimes made sense all wrapped into one character. His makeup licking tongue was borderline barf and the only line I can quote from the movie is, “Wanna See a Magic Trick?”

In my mind Tom Hanks is probably the best actor in Hollywood, but this single performance was probably the best that I can recall. Sitting there, I knew I was watching a great performance.

I wasn’t watching when Heath won his Oscar, but I’m glad he did. He deserved it.

Big Open House Day All Over Town

Real Team Hosts Four Open Houses Sunday 2 – 4

We’re opening 4 great houses to the public tomorrow. The list below is in the order of the pictures. Come visit us if you get a chance as it’s an easy way for you to see some great houses.
1. 228 Wateree Avenue – Wales Garden – 4/2.1 – $495,000.
2. 10 Hobonny Ln. – King’s Grant – 5/4.3 – $995,000.
3. 600 N. King’s Grant Dr. – King’s Grant – 4/3.1 – $624,900.
4. 387 Alexander Circle – Gregg Park – 5/3.1 – $549,900.
See some of you tomorrow!!!