Greenville SC Real Estate
Busy day today. Have some buyers in from out of state. 15 homes scheduled for showing! It's going to be beautiful today with a temp. around 60... Have a good one! Below is a picture from at the Hyatt Regency downtown where I have an office.
Update:
Greenville SC is located in the foothills of the Blue Ridge Mountains about 1 and a half hours from Charlotte NC and 2 and a half hours from Atlanta GA. We are 1 and a half hours from Columbia SC and about 3 and a half from Hilton Head SC. We are about an hour from Asheville NC. Being a longtime resident I'll make some comparisons based on my opinion between the areas.
Greenville is a small town with big city things to do. Unlike Atlanta and it's major traffic problems, Greenville is fairly easy to get around. Traffic does start to build though around 5pm especially on I385 as you are leaving downtown. The Woodruff Rd. area can get crowded at this time too because besides lots of shopping like Greenridge, Whole Foods, Sam's Clubs, Costco, Barn's and Noble, Best Buy and restaurants like Blue Fire Grill, Arizonas and Stone Fish there are tons of very popular neighborhoods that families are trying to get to. One thing I hear from my Florida clients is that streets are not grid like.
That's so very true! Our land is hilly and full of curves. Streets can change direction many different times and may even change names on you! Compared to Asheville, Greenville over all has much better pricing in our real estate. Yes you can find some very nice homes in Asheville NC but you are really going to pay for it. Compared to Columbia.... Columbia SC is coming along nicely and probably very comparable to Greenville although the summer weather is much hotter. Ask anyone who lives there. The downtown is much more spread out and doesn't have the quaint feel that Greenville does. Lake Greenwood Riverplace Greenville morning... Forrester Heights The Greenville MLS is broken up into numbered areas. What you see above is pretty much what you get. For instance if I'm looking for a home for a client in Simpsonville I'd go to area 32. Downtown Greenville...area 76. If I have someone who wants to be a little further out in the country I may head up to area 13 or 14 up Hwy. 14 or 290 or 101 in Greer. A lot of people really like the Wren school district, then I'm heading towards Powdersville area 54 or part of 55. West Greenville, 51 or 60. I have sold homes and properties in Spartanburg too, area 33. I guess what I'm getting at as a person looking to relocate to the Greenville area, that map or area doesn't mean a thing to you. That's why you need a buyers agent working on your side! Below is a map of the above but much more detailed. If you will call me toll free at 1-877-896-1127 or locally at 864-335-8490 I will be happy to mail you this map. It is put out by the Greater Greenville Association of Realtors and is a great tool for those not familiar with the area.
Hilton Head SC is nice. The most expensive real estate in South Carolina is located there. A pristine island with tennis, golf, and wonderful beaches. But really no downtown. Only shops and restaurants spread over the island. Nice place to visit! Here are some shots from Harbor Town in Hilton Head South SC. PS if you go during the Heritage you may get to see Greg Norman's yacht parked there!
When writing a contract important terms to keep in mind, "time is of the essence", real estate or real property, offer, counter offer, rejected, expired, condo vs. townhown, real estate agent for.., client, customer, due diligence, inspection, CL-100, buyer's agent, on or before..., material defect, agency, tbd, warranty, lead based paint disclosure, and on and on. Please use a Greenville SC realtor and buyer's agent to help you with your purchase. I'm just a call away at 864-335-8490!
Don
Update:
I'd like to write a little about offers and value in pricing. Had some great clients I'm working with write an offer on a beautiful home this past Sunday. Home is located in the Taylors area off Wade Hampton Blvd. Wade Hampton otherwise known as Hwy. 29 connects Greenville to Spartanburg SC.
The home is in absolutely pristine condition. I believe the sellers bought it about a couple of years ago and put about $15,000 in it. They really did a wonderful job and I love showing homes that are so well kept. My buyers wrote an offer about seven thousand below list, as a start point. Seller's did not move on price but offered other concessions. Now there is a lot of psychology that goes into negotiating and most buyers expect the seller to move some on price, even if it is a wonderful home. So we countered the offer and came up some. Seller's moved very little. We didn't get it worked out. Short lesson here for sellers and buyers. Perhaps the sellers will get close to list, we'll see. The listing agent explained that with what they had in it and the real estate commission they couldn't move much on price.
Well folks here is my point. They only held the home for less than 2 years. In general in the Greenville real estate market, you should plan on holding your home for 5 years more to see those nice gains. Bottom line, buyers should not have to pay for sellers not holding their homes long enough.
Daily Photo
Update:
It's been a while since my last update, market is really starting to pick up. Speaking of the market picking up, please don't apply all the doom and gloom on real estate sales to Greenville. National sales just don't apply here. Last year was just about as good as the year before and sales are starting briskly this year. By the way I hear it may be in the 70's today!
Let's take a quick look at the Greenville area mls for the past 3 days. There were 130 new homes listed on the market. 89 prices changes, 42 sold and 44 expired. There are currently about 930 pending contracts in the mls.
Stayed in downtown Greenville at the Hampton Inn Riverplace this past weekend for a function! Here is a morning shot from my room towards the east and High Cotten.
The Hampton Inn Riverplace is just down the street for the Peace Center for The Performing Arts. You can visit them at peacecenter.org. There is a full schedule this spring that includes performances by the African Children's Choir, Ann Murray, Smokey Robinson, Ricky Scaggs, Bruce Hornsby and Kenny G. You may have just missed Sweeney Todd. The Greenville News called it a cut above. I enjoy getting out to some good theater and a great meal at places like Rick Erwins, The Overlook Grill, Soby's, O's or Smoke on The Water.....
Back to real estate now...put a nice new construction under contract last week at Forrester Heights. This new neighborhood is located in a great location just off Woodruff and Miller Rd. New and continuing home sale do well because of the location and good schools. Currently there are 6 new homes listed in the mls with a price range between 209 and 294 thousand. Open floorplans and some nice updates available. Below is a quick shot of their pool and playground.
Got good news yesterday. One of my clients from Pennsylvania just put their home under contract and are coming to buy this weekend. Have a good one..gotta go show!
Update:
Always like to look at the mls to see what happened over the weekend. According to The Greenville MLS including Monday, there were 154 new listings (this includes commercial), 139 price changes, 74 expired and 80 sold. Currently there area 1002 pending contracts in the multiple listing system.
Here are a few mls numbers for you to check out above in my quick search for homes.
1149906, 1149952, 1149944, 1149901, 1149932, 1149933, 1149948, 1149938
Thought I'd write about the Greenville MLS for a bit. I am inserting a map of the areas that the Greenville MLS covers.
Update:
Man it's cold outside....17 degrees at 7:45am!
Previous Real Estates Updates are Here!
Just IN!
One of the Best years on record for South Carolina Home Sales according to The South Carolina Realtors Association numbers! We have recorded a 55% increase in sales and a 32% increase in the median price since 2000. We are the 10th fastest growing state in the USA according to Nick Kremydas, CEO of the South Carolina Association of Realtors.
The state has grown by 10% over the last 7 years. Nick always brings up a good point that I always keep reminding my buyers. Quit focusing on the national numbers, it's happening in South Carolina and especially in Greenville! Although we are a bit off our 2005 record peak, home sale are still at record levels.
Below is a downloadable chart taken from the SCAR web site.
Sorry I haven't been back with you in a few days. Been busy showing. Had two clients yesterday to show. One from Florida and one locally in the Greenville area. Had a good variety of homes for sale yesterday. Old to new. Heads up though, two were extremely over priced. I just don't get it. My buyers liked 3 homes and I pulled the comps. from the Greater Greenville MLS and here is what I found.
First one...older home but really well taken care of. Again I know all the Greenville areas very well so when we are driving in the neighborhood I have expectations and knowledge of what is in line. This home was around 3700 sq. ft. on about a half acre. Located in an older section (not Augusta Rd.) of town and decent schools. In this particular neighborhood you are going to run into a lot of 30 year old ranches...no surprises there. Ok, now granted I will admit this custom home did have character and was very well taken care of. The only negative I saw was a back yard that sloped toward the house. OK, pretty but not very usable. Didn't appear to be water problems in the basement. The home is priced in the upper 200's but my gut is it's going to be high for the neighborhood. But I am willing to listen because it really is a very nice home. Well the comps confirm my gut...You are at the highest pricing in the neighborhood and you have a newer custom home sitting right in the middle of 30 year old ranches. Now there is nothing wrong with 30 year old ranches but they will forever hurt the resale on this house.
Second home, and this one I really don't get! I did a detailed property pricing analysis and found one sold in the neighborhood at about $30,000 more than subject property so at first glance pricing seems ok. But you can't make a decision based on one comp. so I pull total sales for the neighborhood. The number I am looking for is the average price sold per sq. foot. Then I adjust upward or downward based on the quality and shape of the home my buyers are interested in. Ok I can't even get it in the ball park and I just don't know what the sellers are thinking, and further more I don't know how the listing agent could list at such an exaggerated price! Seller bought it only about 3 years ago and paid around $90,000 less than they are asking. Now if this was sitting smak dab in downtown Greenville South Carolina...I might can see it or on Augusta Rd. I might can see it... but not way yonder out in the country :-).
Third home. Experienced listing agent, home priced right and comps support it, nuff said!
Got a new CESA soccer video up if you would like to view. Click Here!
Also, don't forget to visit my Blue Ridge Mountain Page!
Update: PS-Please check out my new Blue Ridge Mountains Page.
Of course the big news for Greenville was the snow! Greenville County has some power outages. Looks like about 5000 without power. Right now we've got some freezing rain falling and is supposed to stop by 11am. So all you Florida folks...Are you enjoying the weather? The two most common comments I get from my Florida buyers is that they can't believe all the trees and does it ever snow here? Yes it does, and yes on occasion we have gotten 6 inches plus! Doesn't stay around long though.
Hey, had lunch with a fellow I used to work with at Remax Advantage Team. He currently is with Remax Foothills and is a great listing agent. Derek Sill, you can reach him at 864-672-1207. He does a great job listing homes for sale in the Greenville area. I believe his days on the market is quite below the Greenville average according to the Greenville MLS.
Working from home today. I've got a nice view of the snow. My golden retriever and lab are out there having a ball in the snow.
I wanted to write to you a bit today about Greenville Real Estate and what you see in print and on the internet. I won't say a lot, but some of what you see even on my web site as you search for home is under contract. I've got a huge problem with this and have complained on numerous occasions to our MLS. Although it's not entirely their fault I do believe that the way contingencies are shown allow the mls to not be entirely accurate of what's available.
When you search for homes on my site or any other realtors site or even realtor.com as a matter of fact, your results show not only truly active listings but listings that have some sort of sales contingency. In other words, you find a house you like but after calling the listing agent you find out it's really under contract. Why?
Because listing Realtors now have the option to change a real estate listing status to "contingent". The contingency could be anything from financing for the buyer to home inspection. Now I have a huge problem with this because even though the listing is really "under contract" it will still show active on all searches, even if the status is changed to "contingent".
Now to further confuse things some listing agents don't change the status at all and leave it active. Now it's not only a problem to you but a problem to me. I can't tell you how many homes I have pulled up to show that really aren't for sale. It's aggravating to me and to my buyers. Now the MLS does impose fines for this but it is extremely hard to enforce.
But back to contingent listings. This is totally acceptable to the MLS but my problem with it is that 95% of the sales contracts written are contingent upon financing or home inspection. If that's all there is, the home should be changed to pending and removed from the public view. Only when the contingency is based on the sale of a buyers home should it be allowed to remain visible in my opinion. Why does this continue to be a problem.
Because listing agents want to keep getting calls on the home and convert you to collateral business. See my update for Jan. 15 below.
Update:
9:25 PM Snowing at 32 degrees. Could get 4 inches before daybreak!!
Update for January 15, 2008
Any real estate book you pick up will tell you that the way to make the "big" money is to be a "big" listing agent. Why is this? Because "big" listing agents continually acquire "collateral" business.
Collateral business is any buyer who calls a listing agent about one of their listings and gets "converted" into a prospect. It happens even more now because many of the listings you call on that you have found in an inter net search that appear for sale are actually under contract. (That's a whole other write up).
So.....you call a listing agent on a beautiful home that is either advertised on the internet or worse yet in print (many listings here are out of date or sold). And guess what, it just went under contract.....BUT....."I have others, or I have other ideas or I know of one that might just be coming on the market...etc, etc, etc." You buy into it and guess what, you just became a piece of collateral business. And worse yet the listing agent just became your buying expert. What? It all happened so quick. Now all of the sudden you are working with a listing agent trying to be a buyer's agent. Have you ever hear the expression, "You can't serve two masters?" I don't care what anybody says, you can't be the best at both and sometimes you can be a disservice if you try and be both (dual agency). Please don't be a piece of collateral business, call an expert in the buying process, call a buyer's agent!
Have a wonderful day! Don't forget to check out my Blue Ridge Mountains page HERE.
Update:
Busy day showing yesterday. Ran up on some interesting properties. Focus was on Victorian style and older homes. Ran into a charming early 1900's farmhouse with a rocking chair front porch! Just a charming home. See below.
Pull up a Chair!
Like to do a quick check of the market on Monday and this past weekend 116 new listings hit, there were 81 price changes, 25 went under contract, and 57 expired. Currently there are 998 pending transactions in the Greenville Multiple Listing Service. Here are a few mls numbers for you to check out in my quick search above.
1149223
1149221
1149308
Real Estate: Land along with anything permanently affixed to the land. (short and sweet)
Greenville SC Real Estate: Beautiful land along with great properties affixed to the land at reasonable prices!
Gotta go show!
Update:
Got a perfect example of why you want to have a buyers agent on your side. A couple of days ago I preview a property for a buyer who is out of the area. Went out, took some pictures, walked the land. This was an older property with some acreage and before I went I researched the history and found out it had been on the market for some time and had quite a few price reductions.
In my opinion the property did have some charm but there were some negatives I was concerned about. In particular pricing. I asked the listing agent for comps because I wanted to see the support for the pricing. Here is the thing folks, the listing agent is supposed to be the expert in the area and should have support for the pricing. Yes, I can pull comps and I do but on real estate that I thinks iffy I always ask the listing agent first!
Why? The listing agent is bound to the seller by contract. They have a fiduciary responsibility to that seller and if the comps don't support the pricing then they can't provide the comps. If they do provide the comps, I still pull my own to make sure everything is in line.
So what does this mean to you the buyer? It is in your best interest to use a buyers agent!
Let's say you find a property you like and you contact the listing agent. Their job is to tell you how great and wonderful their listing is. That's because they are bound to the seller. Ok, you go and view the property and just fall in love with it. Lord forbid it's got some land involved too. So you want to make an offer. But what do you offer? Do you rely on what that listing agent tells you? Remember who they are bound to. There are only two ways you can work with a listing agent on their listings. As a customer, representing yourself, or in dual agency (which is worthless), again you are on your own. I can write a page on dual agency.
Agency Definition: the relationship between a principal and an agent whereby the principal, expressly or impliedly, authorizes the agent to work under his or her control and on their behalf.
So how does an agent work for the buyer and seller? DUAL AGENCY, please somebody out there tell me who came up with this.
Coming tomorrow, Do you want to be a piece of collateral business?
Update:
Previewed some beautiful Greenville properties and land yesterday!
Busy day today...and I have to get ready for showings this weekend. Temperatures are back to what they should be for this time of year, highs in 50's.
Some Links for you to ponder:
Greenville South Carolina Information
Blue Ridge Mountains
Downtown Greenville SC Condos
Greenville South Carolina Realtors Page
Greenville SC Hotels
Greenville SC Photography
I'd Rather be In Carolina....
Greenville High State Soccer Championship
(finished #1 in the Nation)
Come visit Greenville!
Update:
Why it's important to use a buyer's agent who works many different areas.
There is a huge difference between a listing agent and a buyer's agent in their thought process. I have listed before and I know. Most realtors who are listing agents pick a Greenville area or neighborhood to work. The listing agent will pick the area then completely focus on that area or neighborhood, flooding the area with marketing material and learning as much about the area as possible. There is good and bad to this, yes they learn to know the neighborhood or area but mostly lose sight of the big picture. In other words they come to believe that their area is the best.
While I will agree that some areas may be better than others, there really is no best and it all depends on what your needs and goals, and lifestyle is. For instance some areas that agents like to push are fine, but they don't always mention problems like traffic, etc.
Folks, what I'm getting at is there are always positives and negatives. If I'm a listing agent I am not going to talk about negatives, why would I? The listing agent's job is to get the home sold! Period!
As a buyers agent, I can pretty much get a feel if there is value in the home right when I walk in it and if the home pricing is in line. To double check my gut feeling I always default to the comps. That's the accountant in me. But let me tell you it is much more than just numbers. It's experience, knowing the market and having sold homes from Pickens to Laurens! I comp homes not just in the neighborhood but based on availability in other areas. I also take into consideration what I feel like are market trends and resale. It is all about supply and demand. Now I can't read the future but I have a pretty good feel for where the real value is.
Hope this helps! I'm off to preview some homes for low country buyer!
PS-Sellers, if you want a home valuation from a buyer's agent perspective CLICK HERE
Update:
I continually get requests to list property and since I am strictly a buyers agent I can't but I have decided to help you sellers out. I am adding a property valuation request form. If you will fill this out I will give you a comparative market analysis from a buyers agent's point of view, not from a listing agent begging to get your listing. Click here for a comparative market analysis of your home. Hey, I don't want your listing, so I'll be honest :-).
I have learned through the years in real estate you find people who do a good job and you stay with them. I would like to recommend a mortgage contact to you that I have worked with since I started my career with Prudential C. Dan Joyner Realtors. Randy Shamburger and I developed an early working relationship and I have stayed with him since. Why? He and his team gets the job done...period! He keeps me informed and keeps my clients happy! He is a Senior Loan Officer with Carolina Mortgage and has over 15 years in the business.
Randy is a broker, so how is a broker different? He shops, do you really want to be tied into mortgage company that only uses their products? Randy shops the rates and programs based on your needs and circumstances. I have run into some real nightmares with various mortgage companies, especially the ones that use a 800 number. Be very careful. I have had a few closings delay or not fund because of them. You need to deal with a local Greenville area mortgage person who is reachable in case an issue arises. If you would like to see what Randy and his team have to offer you can reach him at 864-238-5911. And yes, as long as he is not with a client, he will answer his phone...:-).
Buyers tip for the day. According to the Greater Greenville Association of Realtors (GGAR) sales contract, the seller is not obligated to repair windows with broken seals otherwise know as fogged windows. How to overcome? Look at the windows before you write the contract and make repair of the fogged windows a part of the offer....
Ps- Planning to Visit Greenville SC? Check out my Greenville SC Hotels page here.
Update:
As of 9am this morning there were 992 pending contracts in the Greenville SC MLS. Over the last 24 hours, there were 27 new listings and 11 price changes. 39 listings expired and 1 closed, WOW how did that happen on Sunday?
Just wanted to take a minute to recommend a great restaurant with a wonderful view in downtown Greenville. If you are downtown close to The Falls Park stop in and see my friend Sam Kleckley at The Overlook Grill. Sam and I and Gwinn Davis who photographs for the Greenville News and Tribune Times used to play basketball together at Cleveland St. Baptist too many years ago to talk about :-). Anyway, Sam has been in the restaurant business for years and has a wonderful place right there at the Falls Park. The address is 601 S. Main St. and you can call for reservations at 271-9700. Check it out, I highly recommend The Overlook Grill!
Falls Park
Update:
I love it when I show and have some really beautiful homes to view. That happened yesterday! Here are a couple of mls numbers you can enter in my quick search to view. 1137684, 1147117, 1140853. Here is an interior shot of a home I thought was exceptional.
This 3 bedroom home was built by a great Greenville builder, Centerpoint properties. It lists in the 400,000 range and has a kitchen to die for. Beautiful master suite on the main floor with sitting area. All brick, which brings up a question I get asked a lot. Why does it say brick veneer in descriptions in the Greenville MLS? Folks, that's just a term we have used for years. It is brick through and through... Back to the home, open floor plan, beautiful hardwoods, shows as well as anything I've seen in a while. Please call me at 864-335-8490 to schedule a showing! Located in one of Greenville's premier Eastside neighborhoods!
If yesterday was an indication I predict our market to pick up quickly now that Christmas is over. Our call center was extremely busy yesterday.
Tip of the day. Always request a home inspection even on new construction. The best builders can make mistakes and once you sign the dotted line at close, it's yours. Be sure your buyers agent writes a Home Warranty into the contract. My home warranty has saved me thousands of dollars and they are worth every penny if you use a good company. I always ask for the seller to pay for a home warranty when writing the offer and in 99% of the case they will.
Have a wonderful day!
Ps-Check out my new Blue Ridge Mountains page. Click.
Update:
Received the South Carolina Realtors Association update from Nick Kremydas our CEO. Nick makes some very good points in his column. In a nutshell the national news continues to point out how bad the real estate market is. But hey guys, that's nationally and like Nick says talking about the national averages is like talking about having a national weather forecast as far as Greenville goes. South Carolina had it's 5th best year in 2007.
According to NAR (National Association of Realtors) the increase in foreclosures have primarily occurred in Arizona, Florida, Nevada, and California. South Carolina is actually declining.
Except for states that suffered heavy job losses in the automotive industry, it appears that a recovery is on the way. More first time home buyers will be entering the market.
Real Estate is still the place to be. NAR chief Economist Lawrence Yun mentioned interesting research done by the Federal Reserve: Between 94 and 05 the average renter accumulated $4,000 in wealth while the average homeowner accumulated $184,000. Average homeowner holds their home 6 years and 97% of those who do will have a positive equity position.
Good gosh, it's still cold outside, currently at 7am 18 degrees.
Have a great day and call me if I can be of service! 864-335-8490...
Ps-Check out my new Blue Ridge Mountains page. Click.
Update:
Just got up..5:30 and man it's cold out side, at least cold for around here:-) 19 degrees! Now for all you Florida folks, this is not usual. Normal temps are in 50s here for this time of the year. But we have a cold spell coming through.
Just checked the market and we had 64 new listings come on the market in the Greenville MLS. Just a sec. had to let my lab in. Anyway, 41 listings expired and 42 closed. We had a monster 7000+ sq. ft. home come back on the market in Chesnee with 3+ acres. As a matter of fact after digging a little bit in the mls I find mostly price changes for the past 24 hours. Ok, there is one in Simpsonville SC that looks new that Marsha Cox with Coldwell Banker Cain has in Weatherstone. Listed at $529,900, it is new construction with 4 bedrooms and 3 baths and around 3100 sq. ft. Go down Harrison Bridge Rd. from Fairview Rd.
Checking the news this morning and seeing some school closings and delays. Good place to check this is at Greenville Online dot com.
I ran a search for a buyer this morning who is looking for horse property. There are some decent selections available in the $150,000 to $300,000 range. Showing tomorrow to a doctor with Spartanburg Regional looking in the Greer area. Think I'll wrap up :-).
Quick news update. Looks like the City of Greenville is taking their argument for a smoke free downtown to the South Carolina Supreme Court. It was overturned by circuit court judge John Few. We'll see....
Tip for the day: Always use a buyers agent...have someone on your side who is not tied into a particular home or area.
Have a great day!
Update:
Can you believe it? 2008...Where did the year go? Happy New Year by the way. While other areas of the country have experienced a general slowing of the market, Greenville has stayed close to sales in the previous year. There were 6,577 closed sales of homes and condos/town homes in Greenville County! The average sales price was $191,896 and the average days on the market was 84.
The most expensive sale was 1.8 million. The marked sold at 97% of list price on average. Simpsonville home sales are up with plenty of new construction mostly
keeping resale prices in check. Greer homes sales are doing well too. Of course sales around Buena Vista Elementary, Riverside High and Eastside High will continue to do well but new construction and lot sales have sky rocketed around Lake Robinson too.
What can I say about Downtown Greenville? Just come visit and you will see some extraordinary townhomes and condos. Sales are still solid even though new projects continually seem to crop up. Think you missed the market. Not a chance. Buy now if you can. It's only going to get better....
I look for 2008 to be a tremendous year with more interest gaining in Greenville SC as the word gets out. Click here to find why I'd rather be in Carolina...
