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Selling Real Estate in Today’s Market: The Lake Carolina Success StoryMay 17, 2007 E-NEWS RELEASE For Immediate Release May 17, 2007 Columbia, SC – In an industry that is often characterized by such phrases as "booms" and "bubbles", all eyes turn to this spring season as the make-or-break-it time of year for real estate sales. Last year in areas around the nation, real estate markets softened. By February of this year, there were signals that many of these markets were improving. In the housing industry the oft-repeated axiom is that "all real estate markets are local." The Columbia real estate market is a perfect illustration of this principle as its growth has remained steady over the past year and continues to do well in spite of sluggish national trends. In particular, the micro-market of Lake Carolina has experienced steady growth and success since its founding just seven years ago. "Lake Carolina mirrors the Columbia market," said Earl McLeod of the Home Builders Association of Greater Columbia. "Columbia is traditionally a very stable market. We haven’t experienced the boom or gloom of other parts of the country. Sales in Lake Carolina prove that." Lake Carolina, Columbia’s premier master-planned, family-centered community is centered around a 200-acre freshwater lake in Columbia Northeast. The community features a collection of more than thirty interconnected neighborhoods with a wide variety of price points and architectural styles; a thriving Town Center; two award-winning schools; and a variety of amenities that provide a resort-style living experience. Lake Carolina has been a constant star in Columbia's real estate market having been named Community of the Year by the Home Builders Association of Greater Columbia for an unprecedented seventh year in a row. With its first closing in 1999 and actively selling property for seven and a half years, Lake Carolina’s sales each year have significantly beat the prior year’s sales. In 2005, the community topped $100 million in sales for the first time, a feat that has only been matched in South Carolina by large, coastal resort communities. Last year, Lake Carolina’s total new home sales were $107 million. Adding in resales of existing homes, total sales in the community topped $132 million. There are currently about 1,700 families residing in Lake Carolina. "Our success is a direct reflection of the value proposition that we offer," said Cathie Campbell, Broker in Charge of Lake Carolina Properties. "Our amenities, the Town Center, outstanding schools, walking trails, green space – all of these elements go into making up or contributing to the appeal of Lake Carolina. Plus, we have a broad product offering from $130,000 to more than $2 million and a variety of home-styles to meet the needs of buyers from starter homes and townhomes to our patio/courtyard homes and our award-winning Traditional Neighborhood Development at Harborside. Campbell relates that more than 50% of buyers in Lake Carolina come from out of the Columbia market through corporate relocations or by following friends and family members. "We have the support of the Columbia real estate community," she said. "They are comfortable bringing buyers here because they know that their buyers will be satisfied with their choice. That in turn increases the realtor’s own customer satisfaction ratings." Chuck Munn, president of Lake Carolina Development cites the location of several primary employers along the Farrow Road to Blythewood industrial corridor as bringing in more relocations to Northeast Columbia than to any other part of town. "The stability of the Columbia market is due to several reasons," remarks Munn. "Fort Jackson remains strong despite waves of base closings across the country. Our Commerce Department continues to bring new business to the city, particularly along the I-77 corridor. We capitalize on our proximity to Charlotte, our position as the seat of state government, and our ability to offer the best and brightest minds from our flagship research university." "Most growth in this area is east of I-77 because of the infrastructure and proximity to the University of South Carolina. That helps businesses grow through research and quality employees. Plus, people want to live close to where they work, and we can offer them great schools and comprehensive amenities," he said. "By providing many of the day-to-day needs of residents within the community, industry analysts tell us that traffic generated by the development may be reduced by as 40%, meaning we can allay many of the traffic problems that plague our neighbors on the west side of town." Lake Carolina is participating in the Home Builders Association of Greater Columbia’s Tour of Homes on May 19-20. The free Tour of Homes plan book can be found at Lake Carolina’s Information Center and seven fully-decorated model homes. Tour homes are open Saturday and Sunday from Noon to 6:00 p.m. each day at no charge. Contact: Bill Earle, Lake Carolina Development, Inc ### Lake Carolina, a 1,850-acre development in Northeast Columbia, South Carolina, is a family-centered, master planned community that combines the best features of contemporary cul-de-sac neighborhoods with a traditional village and town center called Harborside. With a pedestrian-friendly design inspired by old town America, Harborside was created to encourage a sense of community, offering residential, retail and commercial elements within walking distance of Lake Carolina’s neighborhoods. Lake Carolina offers the Midlands most extensive gallery of homes. For more information, please call 803.736.LAKE (5253) or visit the community’s web site at www.lakecarolina.com. |
