- Blog Archive: December, 2007

- Blog Archive: December, 2007 Close

December 2007

There are 9 blog entries for December 2007.

The Greenville South Carolina Real Estate Market for 2007 weathered the housing market downturn much better than the majority of United States markets. The year started off strong and didn't experience a slow down until the final quarter of the year. Total single family residences sold for 2007 were down 5.5% compared to 2006 while the average price increased over 3% which is our normal annual rate of appreciation.

     Greenville Homes Sold

  2006 2007
Homes Sold 9502 8977
Average Price $182,388 $188,751
Days on Market

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When my clients first contact me, I ask them to make a list of the requirements for the home they are looking for. The list should be broken down into 2 sections:

  • Must Haves-This list should include details of criteria that their future home must include such as, master on the main, 4 bedrooms, 3 bathrooms, minimum of 1 acre, 10 minutes from downtown Greenville, not older than 5 years, etc. Buyers should take some time in developing this list. The more specific you can be, the more targeted the search and the greater the rate of success in finding the home of your dreams.

 

  • Nice to Haves-This list would include all items, that while not required, would be nice to have. This may include things like, fenced yard, side entry garage,
3,381 Views, 3 Comments.

Bob and Sue are considering purchasing a new home.  They have lived in their current Greenville SC home for several years and need something larger and they like the features newer homes have to offer. They don't have their current home on the market but want to start looking for a home that might fit what they are looking for. They will need to sell their current home before they can purchase their new home.

Buyers in Bob and Sue's situation are common, because most people can't afford to make two house payments. Buyers should spend some time and get an overall feel for the prices and locations of the type homes they are looking for as well as speak with a mortgage professional to verify what priced homes they will qualify for. It is however, not wise

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Manpower Inc. just released their first quarter 2008 Employment Outlook Survey and the results look positive for the Greenville South Carolina area. The report shows that 33% of the Greenville area companies interviewed anticipate hiring more employees in the first quarter. Nationally, only 22% of companies interviewed indicated they planned to add to staff in the first quarter.

Greenville's net hiring forecast leads all the South Carolina metro areas. The areas of durable and non-durable goods manufacturing, education, wholesale and retail trades look the most positive based on the survey.

Are you considering relocating to the Greenville area? Please visit the Greenville South Carolina Real Estate information section of my web site. Relocation

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Following is information from Bert Karrer with Countrywide Home Loans of Greenville South Carolina. This morning’s jobs report provided a higher figure of 94,000 new jobs over the anticipated 70,000 helping to erase the improvements to the 30 year fixed conforming rates that we’ve seen during this week.  This illustrates how much bonds react negatively to inflation.  Considering rates were at 15.75% for a 30 year fixed mortgage in November of 1981, we are still way below historical averages. December 2007 has brought in the lowest rates of year. The next major influence on mortgage bonds will be Tuesday’s FOMC meeting…will the Fed cut rates by 0.25 or 0.50?  Current mortgage rates are priced factoring in a rate cute of 0.25%; any other move may impact…
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Weatherstone is a custom home community that when completed will have just over 200 homes built by an approved list of local builders.  Weatherstone is located just off Harrison Bridge Road in Simpsonville SC with easy access to shopping on Fairview Road and about 20 minutes from downtown Greenville.

                                                            Featured Weatherstone Listing                                                          6 Graywood Court-MLS #1136963                                                                                 $444,900

                                  

       Home was built in 2006 and has over 3,200 heated square feet, large deck and fenced yard. Master on main level. Total of 4 bedrooms and 3 baths.

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Kilgore Farms is an upscale neighborhood located off Woodruff Road, approximately 2 miles past Five Forks in Simpsonville SC.  The entire neighborhood is being built by local custom builders which translates into unique homes with the features you expect when dealing with custom builders. 

                                                   Featured Kilgore Farms Listing                                                                3 Peter Brook Court                                                                       $369,900

                                  

This home is just 3 years old and shows like a model home. Located on a cul-de-sac with a fenced back yard and screened porch. Extensive hardwoods and built ins.  Large floored walk

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I would like to welcome today's guest columnist, Bert Karrer with Countrywide Home Loans. Bert has worked with many of my clients and would welcome the opportunity to speak with you about your mortgage needs.                             How does the lowering of Prime Rate affect you and your Mortgage?   In order to answer this question, it is helpful to understand two major interest rates that are affected by the Fed: Fed Funds Rate (currently 4.5%) - the interest rate that banks pay when they borrow money from each other here in the US. This rate is also determined by the Fed because banks in the US are part of the Federal Reserve System. You see, the Fed’s main role is to maintain “monetary stability” by keeping a close eye on the…
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Simpsonville South Carolina is one of the growing suburbs in the Greater Greenville area. Both Fairview Road and Woodruff Road offer extensive shopping opportunities including department stores, grocery stores as well as places like Lowes and Home Depot. Simpsonville is also a key player in the Greater Greenville real estate market, with much of the new construction concentrated there.

                        

Below is a snapshot of the current Simpsonville SC real estate market including sales for the first 11 months of 2007.

  • 873 total active listings for an average list price of $304,057
  • 362 New/Never Lived In Homes for sale with an average list price of $335,681
  • 1559 Homes Sold for an average price of $235,805
  • Average
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