- Blog Archive: October, 2009

- Blog Archive: October, 2009 Close

October 2009

There are 5 blog entries for October 2009.

Home buying activity in the Greenville SC area is slowing down as we come to the end of the current first time home buyer $8000 stimulus program. We are all anxiously awaiting action by congress to extend this program and hopefully add provisions that would include current home owners as well.

Below is a recap of activity based on information from the Multiple Listing Service of Greenville, South Carolina, Inc. for single family residential home sales through October 30, 2009.

  • There were 454 homes sold in October 2009 compared to 497 homes sold in October 2008.
  • Homes sold October 2009 for an average price of $159,870 which was 95.5% of list price. Homes sold in average of 93 days.
  • There are currently 5606 active listings with 853 of
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The following information is provided by Bert Karrer with Regions Mortgage.  

With rates currently this low, below 5% for a 30 year fixed, it’s important to understand that they won’t last. If you’re prepared to either buy or refinance, don’t balk at today’s low rates thinking that they may fall significantly lower.  

Earlier this year (2009) the U.S. Federal Reserve set a goal of buying up to $1.25 trillion of agency MBS (Mortgage Backed Securities), The Fed's purchases have helped lower mortgage rates, making homes more affordable amid the worst housing slump since the Great Depression. The $1.25 trillion will be used up in November or December of this year.

With the Fed’s downward pressure on rates fading, conforming rates may not…
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We have just added another feature to our Greenville home search site and it is called GET LOCAL. When you are looking at the detailed view of a property you will see the Get Local tab on the top right. When you select it you will see tabs for Nearby Amenities, Nearby Schools and Neighborhood Information. The map will show the locations of these and the property will be shown on the map in a black box with a house logo.

                           

We continue to try to improve your home search and are proud to provide you the most comprehensive home search available in the Greenville South Carolina area. Our goal is to work with you as clients and not just be free information providers. Please contact us and let's get started with your home search.

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The American Planning Association has named Greenville South Carolina's Main Street as one of the 10 Great Streets in the country. In recognizing Main Street they stated that it attracts visitors and residents with bustling foot traffic seven days a week. They sited our long-term commitment to planning and implementation over the past 30 years.

                                              

Greenville's downtown has something for everyone. Stores, restaurants, historic buildings, Falls Park and our downtown baseball stadium. If you are considering a move to the Greenville area, please contact me.

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Any first time home buyers planning to take advantage of the $8,000 stimulus program need to be under contract by mid October to ensure closing by the program's expiration date of November 30th. With the new mortgage guidelines and the volume of activity expected, you don't want to wait much longer.

Below is a snapshot of the single family home real estate activity through September for the Greenville area. This information is provided by the Greater Greenville Association of Realtors.

  • 470 homes sold in September for an average of 95.1% list to sell
  • 114 Days on Market for homes sold
  • 5641 Active listings with 902 of these being new never lived in homes
  • Year to date sales of single family homes are down 25% in units compared to
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