- Blog Archive: September, 2008

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September 2008

There are 5 blog entries for September 2008.

The Greenville SC real estate market through the first 9 months of 2008 has been down but has continued to outperform most other markets in the United States. According to the Greater Greenville Association of Realtors, sales of single family homes for 2008 are off 20% compared to the same time period in 2007. However, average sales prices for both years are almost exactly the same and days on market are only 10 days higher this year. This compares to national numbers of 16 to 20% depreciation in housing prices.

There are currently 6,160 single family homes for sale with 1,381 of these being new, never lived in homes. There is good inventory in all price classes and with interest rates still very low, continues to be a good time to buy in Greenville.

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The Greenville area offers a wide diversity of new/never lived in homes for buyers in all price classes. Production builders, such as McCar Homes, offers buyers looking for the maximum square footage for the dollar numerous neighborhoods and areas to select from. McCar currently has 31 new homes in the Greenville MLS for an average price of $293,579.

Custom home builders here offer a wide variety of custom options and will tailor plGreenville SC Homeans to fit the buyers needs. Traditionally most of the custom builders here will be found in the $350,000 and up price ranges.

To give you an idea about what that will get you, I took a sample listing from MLS priced at $349,000.  This home is in the 2800-2999 square footage range and is all brick. There are 4 bedrooms and

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Thanks to the Federal government's announcement concerning the takeover over Fannie Mae and Freddie Mac, home mortgage rates have dropped this week. The stock market was jubilant on Monday about this news but on Tuesday some of the joy had faded. Below are some national mortgage rate averages from Bankrate.com

National Mortgage Rate Averages
  Sept 9, 2008 Week of Sept. 1st
30 Year Fixed  5.88%   6.26%
15 Year Fixed  5.49%   5.77%

                                                                      

Greenville continues to be a popular relocation

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Frequently I will have clients contact me and say they are ready to go out and start looking at homes in the Greenville area. We talk and I gather information and find out they have a home to sell before they can purchase their new home but they want to find the perfect home before listing their's. It is understandable that they do not want to get their home sold unless they know where they will be moving. In real estate we call this the Home Buyer "Catch 22".

The solution is actually quite simple. If you can't afford to own 2 homes at the same time then you must get your current home sold before buying. In a perfect world, you will get your current home under contract, find your new home then close on both of them on the same day. However you must be

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The national news continues to buzz with negative information about the housing market in the United States. Most pundits have predicted a recovery by the second or third quarter of 2009. Here in the Greenville market, we are trending behind 2007 numbers but are doing much better than most parts of the country.

The following numbers and statistics are provided by the Greater Greenville Association of Realtors.

There are currently 6,020 single family homes for sale with an average price of $282,758 with 1,401 of these being new/never lived in homes. The average price of these new homes is $343,807.

Through August 31st there have been 5,269 homes sold for an average price of $190,163 and average days on market stood at 94 days which is up just 11 days…
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