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January 2013 Archives

Developers seek opportunity in Charleston commercial real estate

A real estate development firm recently announced that they will be expanding their business into Charleston with the purchase of warehouse space close to the port. Although the company has not had a presence in the area up until now, they own large amounts of property throughout the Carolinas.

South Carolina courts oversaw foreclosure backlog in 2012

When banks decide to move forward with foreclosure action, they can either pursue a judicial or non-judicial process, which is often dictated by state or local laws. In South Carolina, the judicial process is used, so distressed homeowners appear in court before their home is repossessed and auctioned off. As many families have learned over the last couple years, going through foreclosure hearings can be emotional and complicated.

How can business owners utilize a short sale?

Since the housing crisis began, many South Carolina homeowners discovered the benefits of opting for a short sale over foreclosure. Although much of the attention regarding short sales has been focused on residential real estate, the same underlying issues affect businesspeople who own commercial property. Although many of the same principles apply, selling a piece of commercial property on short sale may include concerns not present in those involving homes.

Will 'fiscal cliff' legislation affect your home sale?

Since 2007, federal officials have given tax breaks to homeowners who have mortgage debts forgiven. Prior to that action, any debt forgiven during foreclosure, short sales or refinancing were taxable in the eyes of the government. Thankfully, distressed homeowners in Charleston looking to shed debt will now be able to enjoy that tax break until 2014.

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Visit Weeks & Irvine at One of Our Six Locations

North Charleston office 8086-B Rivers Avenue
North Charleston, SC 29406
Phone: 843-553-9800
Toll Free: 800-553-7449
Fax: 843-553-9804
Maps and Directions

Mt. Pleasant office
1100 Queensborough Blvd, Suite 102
Mt. Pleasant, SC 29464
Phone: 843-856-9800
Toll Free: 800-553-7449
Fax: 843-216-0930
Map and Directions

Mt. Pleasant North office
3040 Highway 17-A North, Suite B
Mt. Pleasant, SC 29466
Phone: 843-388-3250
Toll Free: 800-553-7449
Map and Directions

West Ashley office
873 Orleans Road, Suite 102 1/2
Charleston, SC 29407
Phone: 843-571-2996
Toll Free: 800-553-7449
Fax: 843-571-2998
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Summerville office
106 West 7th North St
Summerville, SC 29483
Phone: 843-875-7111
Toll Free: 800-553-7449
Fax: 843-875-7721
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Goose Creek office
567 Crowfield Blvd.
Goose Creek, SC 29445
Phone: 843-553-9100
Toll Free: 800-553-7449
Fax 843-553-9183
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