These visualizations Trulia put together for us show the downward spiral many of those real estate owners must go through, and unfortunately, it’s not always a pretty ride.

Just like many over on Charleston’s tip, it’s quite common for East Cooper real estate owners – whether in Mount Pleasant, Sullivan’s Island, IOP, or Daniel Island – to wait as much as 4 months before reducing their initial sale price.

When owners finally give in and do reduce their sale price, this 2nd visualization shows that most only give in about 10%, and if they’re lucky, their sale is consummated then.

For the unlucky ones still holding on to the real estate they’re now (usually desperately) trying to get rid of, there’s a 50% chance that they’ll wind up reducing their sale price again.

So there you have it, probably pretty common throughout the world, but it is telling to see how long people hold out here in East Cooper before finally caving in to sell their real estate. After all, whether a home, business, or vacant property, it makes sense to get as much as you can for your equity – the question is: when do you cave in and reduce your selling price?

From the Shem Creek blog.

East Cooper Real Estate Sellers Hold Out… Before Caving In

This Saturday is Free Skateboarding Day from 12-5 p.m. at Mount Pleasant Skate Park, behind the R.L. Jones Center where you can try MPRD’s SkateLite Pro Ramps for free.

Participants must bring their own skateboard and safety equipment (helmet, knee pads and elbow pads) and have a current, signed waiver on file.

All skate park rules and regulations apply. Check the Mount Pleasant Recreation Department website for more info, or contact Mark Friedrich at 856-2196.

For more skate park concepts going on around the country, check out Skateparks Start to Go Green.

From the Shem Creek blog.

Mt. Pleasant Skate Park draws crowds

2009 “Blessing of the Fleet” Schedule of Events

April 21 – 6:30 to 8:30 p.m.

Create a Masterpiece – The Week of the Fleet

Go to Bottles ‘N Brushes to paint a themed painting for the Week of the Fleet.
424 Broadway St. in Orchard Plaza, Mount Pleasant.
Reservations suggested: 345-7365. Fee: $35.
Refreshments available. Adults only.

April 22 – 6 p.m.

Whole Foods Cooking Presentation

Enjoy a free cooking presentation with Mount Pleasant’s Whole Foods @ 923 Houston Northcutt Blvd.

April 22 – 10 a.m.

Shem Creek – A History of the Creek and Shrimping

Presentations by Tressy Mellichamp, of the local Magwood shrimping family, committee member of the Blessing of the Fleet and Seafood Festival and co-author of “East Cooper: A Maritime History,” and David Whitaker, deputy director of DNR.
The free event will be at the Mount Pleasant Senior Services Center @ 840 Von Kolnitz Road.

April 23 – 6:30 to 8:30 p.m.

Create a Masterpiece – The Week of the Fleet

Go to Bottles ‘N Brushes to paint a themed painting for the Week of the Fleet.
424 Broadway St. in Orchard Plaza, Mount Pleasant.
Reservations suggested: 345-7365. Fee: $35.
Refreshments available. Adults only.

April 25

Taste of Shem Creek

Red’s Ice House on Shem Creek will have items prepared by local shrimp boat captains.
Food tickets available for purchase. Call 388-0003.

April 25 – 7:30 to 9:30 p.m.

Blessing of the Fleet Sunset and Shagging Cruise

The Blessing of the Fleet committee will leave Patriots Point for an evening cruise on the “Spirit of the Lowcountry.”
Make prepaid reservations with Spiritline Cruises at 843-722-2628 or 800-789-3678.
Tickets are $18. Adults only.

From the Shem Creek blog.

Mt. Pleasant Blessing of the Fleet 2009

Two lawyers from his office though, Frederick “Fritz” Jekel and Paul Doolittle, are announcing the formation and opening of Jekel-Doolittle, LLC. Together, Mr. Jekel and Mr. Doolittle offer a combined 30 years of legal experience to represent residents of South Carolina communities in complex legal matters.

Mr. Jekel and Mr. Doolittle worked together at Motley Rice and other firms for 12 years and credit their experiences for equipping them with the foundation to handle complex litigation. “There is a real advantage in knowing how to help your clients and what needs to be done to get a great result at the end of a hard fought battle,” echoed Doolittle.

Jekel-Doolittle, LLC focuses on serious personal injury actions and trial work in:

“I have reviewed and managed complicated, advanced and unconventional legal issues that a lot of attorneys have not handled,” said Jekel.

• * Nursing home litigation
• * Toxic exposure litigation
• * Catastrophic injury litigation
• * Trucking accident litigation
• * Consumer fraud litigation
• * Criminal defense litigation
• * DUI defense litigation
• * Product liability litigation

The two attorneys seek to parlay their experience from their previous national practices to focus on the legal needs of South Carolina citizens as well as residents of nearby Savannah, Georgia, and Charlotte, North Carolina. Jekel-Doolittle, LLC operates from the main office located in Mt. Pleasant, South Carolina.

Mr. Jekel and Mr. Doolittle welcome opportunities to assist attorneys in the region with serious legal matters where they can utilize their courtroom experience. “Fritz and Paul are loyal, hardworking and committed to their clients. We certainly wish them the best,” said Motley Rice LLC co-founding member, Joe Rice.

Internationally known trial lawyer Ron Motley noted, “The two have proven they can get it done in the courtroom. I am sure this will continue to be the case as they work to focus on helping South Carolinians.”

Partners Fritz Jekel and Paul Doolittle may be reached at (843) 654-7700, www.J-DLaw.com, 210 Wingo Way, Suite 201 Mt. Pleasant SC 29464

From the Shem Creek blog.

Former Motley Rice litigators open new law firm in town

To make things even more hectic for local longshoremen and truckers, the SPA CEO is leaving now too.

All this happened before President Obama gave his first weekly address Saturday. In that historical speech, he demanded increased security for our ports, so to say it’s the reason SPA management decided to not successfully renegotiate with the union, and that somehow the SPA’s CEO leaving office has anything to do with it, is totally without merit – although President Obama did mention port security in his earlier campaign pledges.

“…we will rebuild and retrofit America to meet the demands of the 21st century. That means repairing and modernizing thousands of miles of America’s roadways and providing new mass transit options for millions of Americans. It means protecting America by securing 90 major ports…” – Pres. Obama

In fact, the local ILA couldn’t come to terms with Maersk management, and in the end, decided to leave Charleston completely by the end of 2010. Dana Magliola, spokesman for Maersk Line, said “The South Carolina State Ports Authority offered us a workable solution that involved a move into the common yard, but we needed the consent of local ILA to accomplish the move. The local ILA refused to consent, and so we are forced to move.”

According to Shipping Digest, “Not one of the East Coast’s major metropolitan areas, Charleston is nevertheless the second busiest container port on the East Coast, trailing only New York / New Jersey in container volumes.”

Current weekly Maersk departures out of Charleston include:

1. Africa,
2. Asia: Russian Far East, Japan, Korea,
3. Asia: Taiwan, China, Hong Kong,
4. Caribbean/Central America,
5. Europe/Mediterranean, and
6. Indian Subcontinent/Mideast/Red Sea

With Maersk leaving Charleston, it will obviously have a huge impact on the local economy, but another carrier will surely fill the gap when the opportunity arises – let’s just hope it happens sooner, rather than later.

From the Shem Creek blog.

Obama increases port security, Maersk leaves Charleston

SouthEastern Petroleum Systems will be opening a new manufacturing facility over in Chester County. Their $30 million investment is expected to bring 24 new jobs to SC, which is great news for that area, but it also suggests that someone has finally figured out a business plan for recycling used oil – I mean, $30 million is no pocket change, I don’t care who you are!

Back in the 90′s, if you lived here, you may remember a company that got a lot of press at the time – both good and bad. It was Green Oasis Environmental, a start up company here off Long Point Rd. I happened to work for. The owner – I mean swindler – was William ‘Bill’ Carraway: a grey-haired, sports car driving, wanna-be that wound up coaxing my uncle’s retirement property right out from under him in what came to be GOE’s original headquarters (next to the newly built Sealand gate of the SPA Wando terminal – in other words: lucrative industrial property).

Bill Carraway’s idea, commonly referred to as cracking waste oil, was great – actually, it wasn’t his idea: he bought a table-top mockup from somebody in Florida and then my uncle Joe rescaled it to real-world size – but to sum up the process:

1. accumulate recycled oil and various other petroleum products,
2. store it in a tank farm,
3. pipe it into a 40′ container (marketed for mobile, but it wasn’t really),
4. heat it in a boiler,
5. evaporate it up into a distillation column,
6. extract your fuel of choice (ASTM #2 off-road diesel fuel here), and finally,
7. pipe it into a product tank for storage before sale and/or use on site.

If it weren’t for the fact that he made no friends at DHEC or the high dollar neighborhoods across the street because of foul emissions coming from GOE, it might’ve had a chance. But in the end, the few firm sales (in Bulgaria and somewhere else I can’t remember right now) weren’t enough to keep Bill out of court with complaints from neighbors and investors.

To be clear, I have no reason to believe SouthEastern Petroleum Systems management is anything like Bill Carraway was, and like I said, I wish them all the best. I’d love to hear more stories of recycling in South Carolina taking off.

Anyway, it’s great to hear up front from our Commerce Dept. that SEPS’ $30 million oil recycling plant is for real. As many Pink Sheet companies go, be wary when you hear silver-tongued publicity noise like Green Oasis put out. Here’s the marketing statement GOE had back then:

About Green Oasis Environmental Inc.

Founded in 1991, Green Oasis Environmental Inc. is a publicly traded company (OTC Bulletin Board: GRNO.PK) which designs, develops, and manufactures fully computerized units which contain the Company’s proprietary EnviroEconomics(R) System, a fully patented waste oil distillation process which converts waste oil into marketable fuel products such as #2 diesel oil and heating oil in a one-step process of thermal cracking and distillation, techniques which are well-known in the refining industry. The EnviroEconomics(R) System can be located on less than a one acre site and the Company offers a choice of output capacities which comply with EPA and other related governmental regulations. Applications for the company’s end products are primarily industrial, including process heating systems, rail, marine, farm usage, and over-the-road vehicles (cars, buses, and trucks). The Company’s proprietary technology was independently selected by a United Nations committee and showcased in a book published in 1995 identifying new proprietary technologies which developing countries could use to protect their environments. GOE markets its technology directly and through Agency relationships and strategic alliances.

From the Shem Creek blog.

Recycling waste oil means more jobs, cleaner environment

Those who were there last year may remember that Ryan Seacrest and the ‘American Idol’ folks were in town for auditions; I wonder if any special events are planned for this year? It doesn’t really matter, the oyster festival is always a great time IMO!

Tickets are $10 in advance and $12 day of.

For more information, call Boone Hall Plantation at (843) 884-4371. They do ask that no pets or coolers be brought to the event. Enjoy!

To date, more than $1,000,000 has been donated to the Charleston County Schools Science Materials Resource Center, the Hollings Cancer Center, and the Ronald McDonald House.

From the Shem Creek blog.

The 2009 Lowcountry Oyster Festival is this weekend

It was also cool to see some turtles – or were they tortoises? – and some slithery snake bracelets brought in by local animal lovers.

Unfortunately, all the money being spent here isn’t gonna be much help for Shem Creek’s shrimping boats if these gas prices stay so high and the amount of shrimp out there keeps dwindling.

Of course I took a bunch of pictures while I was there, click the clown to see a gallery of 27 of them.

From the Shem Creek blog.

Mt. Pleasant ‘Blessing of the Fleet’ 2008

A’las, those good ol’ days are history now, but the same people that came rushing in on the construction boom are a lot of the same ones suffering through the nation’s mortgage crisis right now. Checkout this infograph the NYT’s did illustrating the nation’s foreclosure market.

No doubt it’s tough out there for many, and it looks to get worse over the next year at least going forward. There are good finds for those looking in the right spots though. Sure, it’s all about location, location, location, but Charleston real estate will always be a hot commodity.

Anyway, I think the lesson learned here is to not live outside your means, and always protect yourself financially against the worst of times. Those with safe, secure jobs, are fortunate and should do whatever necessary to make sure it stays that way, but helping out others in need along the way isn’t such a bad idea either – you’ll be glad you did. G/L out there.

From the Shem Creek blog.

S.C. enjoys construction boom, loathes job losses

To view a slideshow of urban growth projections for the Charleston area, click the link or image provided, but be warned, if you think traffic is bad now, “you ain’t seen nuttin’ yet!”

Mayor Riley is now talking about using rail cars to alleviate some of the dreaded highway traffic we see around here every workday. Charleston paying to benefit Mt. Pleasant? Now that’s a sign of the times…

And it’s a good thing too, because when Mt. Pleasant finishes last for walkers in S.C., you know it’s time for the local government to get things fixed. I mean, have you ever tried to cross Johnnie Dodds on foot? Good luck!

From the Shem Creek blog.

Urban Growth Projections for the Charleston area