- Blog Archive: February, 2008

- Blog Archive: February, 2008 Close

February 2008

There are 6 blog entries for February 2008.

Fluor Corporation, one of Greenville South Carolina's largest employers, has announced they have purchased the naming rights for the Greenville Drive Baseball team's stadium.  Previously known as West End Field and will now be Fluor Field at the West End for at least the next 10 years.

The Greenville Drive will be starting their 3rd season at the downtown stadium in April. During their first 2 seasons they set Greenville attendance records previously held by the Greenville Braves.  The Greenville Drive are the Single A affiliate of the Boston Red Sox.

Fluor Corporation is one of the world's largest engineering firms, and currently has nearly 3,000 employees in Greenville.

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The 2008 Bassmaster Classic will be coming to Greenville South Carolina this weekend. The actual fishing will be done on Lake Hartwell but Greenville will be base camp for the participants as well as the site of the weigh in at the Bi-Lo Center and other festivities. The winner of this weekend's tournament will receive $500,000.

Besides getting a chance to show our city off to the world through ESPN and numerous other media outlets, it is projected that the total economic impact for the Greenville area will be near $20 million. There will be 40,000 visitors in our city for 3 days, staying in local hotels, eating in restaurants and soaking up our beautiful downtown area.

The best thing about hosting these type events is when these visitors leave, they

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The National Association of Realtors recently released a report that studied the 2007 median home sales prices for 150 metropolitan areas. Greenville SC was one of the 73 areas that had an increase over 2006 with an increase of 3.6 percent.

Greenville is a buyers market but homes here are not losing value like many parts of the country.  Homes continue to sell here for an average of 97% of the listing price which has been the norm over the past several years.

If you are considering purchasing a home in the Greenville area, please visit my Greenville South Carolina Real Estate web site to learn about homes for sale and details about what makes this a great place to call home.

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A report just released by RealtyTrac inc., shows that Greenville South Carolina had the lowest foreclosure rate in 2007 compared with the 100 largest metropolitan statistical areas.  The 2007 numbers for Greenville showed a decline in foreclosures of over 73% compared to 2006.

State experts here site the regulation and oversight of the mortgage brokers here as a primary factor in the low foreclosure rates. The other factor that I have been telling my clients is that our annual appreciation rate for real estate has been in the 3 to 5% range for the past several years and this is a sustainable and healthy rate of growth. Home sales here have been slower than normal, but we are not seeing the pricing erosion seen in many other areas of the country.

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The following article is provided by Bert Karrer with Countrywide       Wow! I have heard this question a few times in my career. Well here is the answer from my perspective.                   Chairman Bernacke and his friends at the Federal Reserve are doing all they can to avert a possible recession in the US economy. On January 30th, the FED cut US short term rates anther .50% taking their benchmark rate to 3%. The FED has now cut rates by 1.25% in just 9 days and this represents the most aggressive FED rate cut since 1990. This did have a shock effect on the stock market and artificially kept stocks from plunging.                   The FED’s move to the lower short term rates does not effect mortgage rate but is intended to keep us from…
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The month of January is now complete and I wanted to share some of the numbers with you to give you a feel for the Greenville South Carolina real estate market. The month started off a little slower than normal but picked up momentum toward the end of the month. Comparing January 2008 to January 2007, home sales were down 22% but the average sales price went up from $173,218 to $178,545.  Days on market were virtually the same at 90 days.

There are currently 5,423 homes for sale in the Greenville MLS with 1,487 of these being new/never lived in homes. There is good inventory in all price classes and locations in our area.

So what do all these numbers mean? Although January home sales were off against last year, the values in our area are not falling

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