- Blog Archive: November, 2008

- Blog Archive: November, 2008 Close

November 2008

There are 4 blog entries for November 2008.

December is here and brings a close to turbulent 2008 real estate market. Home sales across the country have been down and many markets have experienced extreme loss of home values. The Greenville South Carolina real estate market has continued to outperform most parts of the United States despite the problems with the overall U.S. economy.

According to the Greater Greenville Association of Realtors, through November 30th sales of single family homes are down 21% compared to 2007. The average sales price however was down just 1% and days on market had increased just 7 days. The average sales price so far in 2008 has been $187,215 and the average days on market has been 91 days.

The outlook for 2009 calls for a recovery in our home sales by the second

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There is a brand new feature on my Greenville Area home search that I wanted to make everyone aware of. There is now a CONTROL PANEL tab on the home search screen which is where you will now access your Favorites and Saved Searches. You can also update your contact information and send me any messages with questions you may have about specific homes.

This feature allows you to access all your information in one place. I hope you enjoy using my home search and look forward to working with you to find your new Greenville area home.
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The following information is provided by Bert Karrer with Regions Mortgage.

Getting preapproved for a mortgage.
Preapproval was always an intelligent move, but given today’s market it is a must. Realtor’s that I have talked to say they don’t want to take someone home shopping who might not be able to get a mortgage in today’s tighter loan market.

Do some digging to find out where you will get the best rates. Check several lenders, including commercial banks, mortgage companies, and credit unions. Knowing only what your monthly payment or interest rate will be is not enough. Ask each lender to estimate what you’ll pay over the life of the mortgage for the same loan amount, loan term, and type of loan so you can compare properly.

Check
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Homes are being sold here and home values are not eroding like most parts of the country. Homes sold for 2008 through the end of October show total number of homes sold down 20% but the average price for homes sold remains nearly unchanged.

According to the Greater Greenville Association of Realtors, there are currently 6,110 homes for sale on our MLS with 1,338 of these being new/never lived in homes.  Through October 31st there have been 6,401 single family homes sold for an average price of $187,639 and the average days on market has been 91 days.

This month our country will be electing our new President, and no matter who wins, it is my hope that the election brings a sense of stability to our nation and our economy.
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