I hear many restaurants may be going through some changes in town. Had some clients eat at the Lazy Goat, they liked it. I have to say though I went to Soby's a few weeks ago and was not impressed with the food, usually it's very good. Service was good but it was pretty dead, on a Thursday night too. O's may be down pricing their menu. Ok, let's talk about doom and gloom in the real estate markets and how it's all going somewhere in a hand basket, at least that's what the media wants you to believe.....Did you know? According to Zillow, in the first 3 quarters of 08 median home values in Greenville SC increased by 2.8%? I'll bet 4th quarter shows gains too. Listen, you can't knock a great place to live that has never had a bubble.
If you're out for a big party tonight, stay off the roads and if you do drive don't drink. DUI enforcement is in full force. There are a lot of parties going on from Chiefs to the Hyatt Downtown and all places in between.
Let's jump into the MLS and see what's going on. As of 5:58 AM:
46 New Listings
61 Price Changes
31 Sold
55 Expired
581 Pending
Looks like we could have a flip in the North Main area. North Main can be nice just depends on the street and how far off you are North Main. Got one in venerable Sugar Creek, this one offering a bonus to the selling agent. Quick note on bonus' paid to selling agents. They are often offered as an incentive to selling agents to sell the property. I never look for them nor take them into consideration for my buyer clients when we are evaluating a property. Again as a buyer's agent, the client's best interest should always be served first.
Folks, I write a lot about Greenville but I cover most all areas over the upstate....I have to as a buyer's agent. I am currently upgrading pages for Laurens, Greer, Simpsonville, Pickens, Fountain Inn, Spartanburg, Travelers Rest, Taylors, Greenville, Greenville City and Downtown. Please let me know if you are interested in these areas....I'll be glad to help.
Have a wonderful day and stay safe tonight!
December 30, 2008
Wow, two days til next year! Can you believe it?
What's up from the MLS over the past 24 hours as of 6:20 am?
34 New Listings
61 Price Changes
35 Sold
17 Expired
591 Pending
Wow, there's a 2 bedroom with less than 1000 sq. ft. for $249,000 off McDaniel, folks, that's otherwise know as the "Augusta Rd." area. Oh yeah .18 acre. Maybe it's really nice inside. I see two offered at Cliffs at Glassy. Pretty stunning up there, but in my opinion focus has really shifted from there to the other Cliffs Communities.
Let's take a look at the current market real quick. In Greenville city limits there are currently 831 active listings $100,000 and above. The average list price is $325,694 with a high of $2,995,000. From October 1 YTD we had 196 homes sell with an average sold price of $246,474. Average days on the market was 91 which is up a bit but probably due to the holidays too. Average price sold per sq. ft. was $100.
Lot going on in Greenville for New Year's Eve. Downtown Greenville will be very active. If you would like to see what's currently available in downtown condos go here. If you need help understanding taxes for non owner occupied properties and why such a difference, just give me a call. Quick tid bit on the downtown area. Did you know there are over 145 retail stores in the downtown area? We've got over 700 hotel rooms and a new Marriott on the way with more shopping? A few of my favorite hotels are here.
December 29, 2008
Good morning! Hope you had a wonderful Christmas! Let's jump into the MLS this morning and see activity for the past 5 days. Pretty slow as I figured over Christmas. As of 8:43 this morning:
44 New Listings
50 Price Changes
26 Closed
62 Expired
Pendings dropped to below 600 at 595
Looks like a new listing in Sugar Mill. Closed at $305,000 in 2005, asking $329,900. Very popular area because of the schools, Buena Vista elementary, Riverside Middle and Riverside High. New listing in River Oaks worth a look if you are in the 400-500 range. Same schools as above, built in 2001. It's only a 3 bedroom though which will hurt it, especially in that price range.
Got a call yesterday from a very nice young lady wanting to buy. She and her husband are first time home buyers. She asked me what to do. I explained that the first things she and her husband needs to do is get pre-approved with a lender, not pre-qualified. Folks, pre-qual letters are worthless. You want a pre-approval letter. That way you and I know what you are qualified to buy and you can figure out what you are comfortable with. See my 4 buying secrets here.
Hey, got some nice people coming in tomorrow to tour the area. They were referred to me by some past buyers. I helped the buyers get a great buy around $20,000 under the market. They are experienced buyers and buy and renovate and have done quite well. Well anyway, I'm touring tomorrow then we are going over to see the renovations! Should be exciting.
Clemson and South Carolina are getting ready for bowls and will be playing the same day in the same state. I went to Clemson and have a son at USC so I hope they both do well. Go Tigers...go Cocks!
Can you believe the new year is almost here? I'll do a write up on this years market activity without the BS. I've been blessed with a good year and will mention some of my favorite listing agents I've worked with. Currently it's about 51 degrees in Greenville. Looks like we'll be in the 50s throughout the week.
Oh yeah, I'm in process of updating a lot of pages at greenville sc real estate so please bookmark and check back. Should have some good information for you to help you make a good buying decision.
Tuesday, December 23, 2008
Good morning! At 6:06 this morning it's 27 feeling like 18 degrees in Greenville! Had a great day yesterday. Had a nice couple meet me at the downtown REMAX office. The fellow has taken a job in Greenville and they are moving their four kids down. Looking up to $150,000. Found a nice one. If they had their home under contract I think we would have made an offer. Quick point below on offers.
Don't write contingent on Sale Offers!
I rarely write an offer on a home if my buyers have a home to sell and their home is not under contract. Don't do it. That kind of situation puts you the buyer in the worst negotiating position. Why? If the seller is not sure if the contract will ever close they are very unwilling to come down on price or make other adjustments, they just have nothing to lose. Here's why. The seller will continue to market the house, it will still show active on most realtor web sites and in the MLS it will be marked, continue to show and first right of refusal. The first right means that if another offer comes in and is acceptable to the seller, then the buyer who has the first right must release their contingent on sale clause or withdraw from the contract. Not too many people can own two homes at once, so generally the buyer loses the home they wanted and has to start over.
This is pretty common sense but now let's look at the negatives to the buyer. The buyer is locked in the deal just like any other ordinary contract. So let's say we have written the contract for a 90 day period while the buyer is trying to sell their home. Remember the seller is still actively marketing their home.....the buyer has probably paid close to full price. What if on the 47th. day a home get's listed that the buyer likes more than the one they have under contract? What if they absolutely love it and want out of their current contract. Even if the seller will release, the buyer may not get their escrow money back. Again folks you are at a severe advantage. Don't do it. Now if your house is under contract, well that's a story for another day!
Should have a closing this afternoon and have got to finish up my shopping. Probably head out to Haywood Mall, shops at Greenridge and Mast General just to mention a few. Oh, for some interesting jewelry and glass check out Llyn Strong on Main St. Downtown Greenville.
Monday, December 22, 2008
Good morning! Hope you had a wonderful weekend. Let's look at the MLS as of 6:43 this morning. Over the past 3 days we had:
85 New Listings (Remember these could be price changes or company changes, etc.)
77 Price Changes
40 changed to sold status
53 Expired
620 Pending Transactions
Looks like there is a new condo in Riverplace. Originally sold for $170,000 in 2004. Current asking price $372,500. Double WOW. There's a 3/2 in Brushy Meadows that's worth a look. In there it just really depends on the lot. Schools are Woodland, River Side, River Side. Keller Williams has a new one in Gilder Creek Farm, again it all depends on how the lot sits, some have privacy, some don't. Head down Woodruff Rd. to see this one. There's one in Kilgore Plantation that has gone through a lot of status changes, price, company, etc. Kilgore is very popular so I would just have to see this one. Cute little 2 bedroom in the North Main area for under $160,000.
Man it's cold, ok I know you people from the North are laughing but it's currently 25 feeling like 17. Looks like the high will only be about 33, feels like Christmas....don't think we'll get snow though.
Pick Your Attorney
Did you know our sales contract is only 6 pages long. I have had California buyers comment on this. I think I was told theirs is about 60. Now imagine that! Also in New York, I've been told that everybody has their own attorney. Imagine that! In most situations there is only one attorney closing the transaction. If you need a good one please check with Chris Cogdill, he does a wonderful job. In South Carolina the buyer has the right to choose the attorney of their choice. What aggravates me is these Relocation Companies who try and specify that you must use their attorney. Not correct. They want you to use their attorney because their attorney is engaged by them. I don't recommend it, remember you have the right.
Another thing that really varies widely is the amount of escrow held here vs. other parts of the country. About $500 in normal on a $100,000 home and I've had buyers escrow as little as $2,000 on a $300,000 home. It's always negotionable. Hey got some buyers in town let's see where we are going. Greenville, Simpsonville, Greer, not bad, hope they wrap up! :-)
Friday, December 19, 2008
Good morning! I'd like to talk a bit about great deals you can get in real estate in today's market. Even before the big down turn in the economy this last quarter I have helped buyers get outstanding buys in Greenville and surrounding area real estate. I'll focus on 3 today.
What prompted me to write is I got an email from a past buyer asking my opinion on refinancing. He and his wife with my help purchased a bank owned property in Stonehaven last spring in the mid 300's. Zillow today has it over $400 but honestly in my opinion it's worth at least $450,000. That ain't bad friends. Now one thing I want to comment on, use Zillow as a gage if you like but don't take it as the gospel. It can be very wrong. If you want accurate pricing contact a realtor who can pull data directly from the MLS.
Second example, helped a very nice couple by a Simpsonville home in a desirable neighborhood. The builder had to bring $200,000 to the table. That ain't bad either, I had the house at $700,000 and we bought for $500,000. Another bank owned.
Third example, one currently under contract for in my opinion a whopping $350,000 under market, again bank owned. Now the house has sat empty for a while and does need some work, but my savvy buyer has had all estimates done and has a good idea what he is getting in to. Point is now is the time to buy. I mean where are you going to put your money, in the stock market? Folks, buy something real, something tangible.
Which brings me to a few final comments on this subject. Greenville is the place to buy, have we slowed? Yes. And there are some great deals out there. But I don't see the market busting like a lot of Florida. Why? And again this is just an opinion. We never really had a bubble. Just nice steady growth and there's not much reason to leave, like hurricanes, etc. Just a beautiful surrounding in the Blue Ridge Foothills with a lot of good people.
Thursday, December 18, 2008
Good morning! Can you believe Christmas is only a week away. I've got the internet radio and Bings singing "It's Beginning to Look a Lot Like Christmas". Go Bing! Guess I'll have to break out one of my favorite movies, the 1951 release of Scrooge with Alastair Sim in the title role. Hey, Bob's your Uncle!
So what in the world in going on in Greenville SC today? Catch the Christmas parade video here. Looks like we have a new restaurant opening up in Greer, Dickey's Barbecue, they call it Texas barbecue. Probably be a little different than good ole South or North Carolina barbecue. If you get a minute check out downtown Greer, although not quite Greenville it is developing nicely.
It's been rather warm here lately in Greenville but the temp is going to drop first of next week back into the 40's. One nice thing about Greenville is you get a nice change of seasons with not too many extremes.
Didn't check the MLS for you yesterday so let's get going:
As of 8:23 this morning for the past 48 hours:
58 New Listings
75 Price Changes
41 Sold
38 Expired
Currently 628 Pending
There is listing change of companies in Kingsbridge price stays same at $899,000 from and original of $995,000, WOW! Kingsbridge is a nice neighborhood and has been very popular since it's start. Nice pool and club house. Couple up in Spaulding Farm, another popular neighborhood because of schools and location. Currently high school is shown as JL Mann. Folks, this has always been a real popular high school in the area. Some people swear by it. Looks like there's one in River Walk that just got a price reduction and has been on the market 2 years. I'd wonder about that one because River Walk is another very popular neighborhood too. If you're looking for Easley, Smithfields is pretty decent. Couple in Mauldin looked priced right. Call me to tour! 864-335-8490.
Wednesday, December 17, 2008
Good morning! Foggy and 45 degrees in Greenville. Looks like we'll get rain off and on all day.
Please Mark It AS Is If No Repairs
Let's talk real estate. Here's a scenario. I will have a buyer enter into a transaction in good faith and make a reasonable repair request after inspections. The seller will respond with a no on all the request or will do very minimal things, tighten a screw, etc.... This is one of the most aggravating situations I see today. And I have told listing agents "if the seller intended to sell the home "as is" then they should have marketed it that way." I've even been in situations where the seller is getting close to what they asked for the home and they still won't make repairs. Yes they are entitled and the buyer can decide what to do based on that, but in many cases it is a seller trying to take advantage of a buyer who has time, effort, expense in the deal and the seller is trying to leverage up. Because folks, sellers really have nothing in the deal.
Well some listings agents and some of you would say "well it's time off the market". Just not true. I'll bet 90% of the pending transactions in the MLS are marked contingent. So what does that mean? The biggest thing it means is that even though the home is under contract it still shows active on most all realtor web sites. That's right contingent sales, on financing, inspection, etc. show active on most all web sites. So in reality it's still being marketed.
Back to my point though, if a seller is going to sell a home "as is" then market it "as is", then buyer knows what they are getting into. Many a deal will fall apart because the seller makes very little effort to repair.
Tuesday, December 16, 2008
Good morning! Thought I start the day with a focus on a neighborhood. I'm going to run a nice little report in our MLS called The CMA Summary Report. CMA stands for comparative market analysis. If you'd like one run on a neighborhood...just let me know. Reports shows from Jan. 1 to 7:54 this morning for Thornblade and The Gardens at Thornblade:
12 Sales
Low $485,000 High $1,750,000
Average $847,037
Average Days on The Market 151
Average closed price per sq. ft. $164
Average List Price to Sales Price 93.4%
This would basic information needed to help a buyer make a good decision and is easily pulled.
Hey, noticed those mice downtown again the other day and thought I research them, always wanted to know what they are there for. The idea came from Jimmy Ryan for a senior project at Christ Church Episcopal School. The mice are based on the book Goodnight Moon. Jimmy raised the money and had Zan Wells a local sculptor make the mice. There are nine of them placed between the Hyatt and The Westin. So if you're walking and you see them, that's what they are!
By the way....did you know the Marriott is building a luxury hotel downtown? I'll have to check that out when its done....
Monday, December 15, 2008
Hope you had a good weekend! Had to take a trip up to Wake Forest to photograph two state high school football championships. Wake Forest has a pretty stadium. Sunday photographed my daughter's soccer team state championship game against Columbia. We won! Go CESA!!!
Ok, Let's jump on the market and see what happened this weekend! As of 8:54 this morning for the past 3 days:
82 New Listings
66 Price Changes
27 Sold
61 Expired
Wow, I see one in Cotton Mill Place that has had so many changes it will make your head spin. Price changes, actives, different companies. I haven't been down there. Looks like we have a new one in Linkside III, nice if you want the Taylors area. Close to Pebble Creek Country Club, a great value for families who want a pool, tennis and golf. I see a new listing in Neely Farm, come on agents get those pictures up when you upload, don't you realize that when realtor email alerts go out it's your best opportunity to put that property in front of a potential buyer... Cute little bungalow in the North Main area....there's a new one in the Parkins Mill Area, people love it for the schools...Call me at 335-8490 to see any of these properties, remember always use a buyer's agent.
So what else is up, I was talking with a fellow in the news business this weekend and we were talking about how a lot of Newspapers are in real trouble. It sort of makes sense if you think about it. The news is old by the time it gets to your door. The internet has taken over. So if that's the case why does the Greenville News have such a hard site to navigate? (remember this is my opinion). There is an alternative, The Journal if you want to check it out.
I see Joe Pitts, VP of MLS and Technology at GGAR (Greater Greenville Association of Realtors), has emailed us about ethics training. National Association of Realtors are required to take ethics training between license renewals. Very helpful and informative, a lot of common sense stuff.
Friday, December 12, 2008
Forgot to mention that Greenville had their big Poinsettia Christmas Parade the other day. Estimates were we had over 30,000 in attendance! This runs down Main St. right past my office. Bob Jones Elementary School won best overall parade unit.
Thought it might be worth mentioning that our city seems to be in good financial shape. I read we were once again awarded the Government Finance Officers Association Cert. Achievement award. The General Fund balances increased and we maintain strong bond ratings.
Speaking of finances, we all know what is going on with the bailouts and all I heard and hear about is how credit in tight. Folks, I haven't had one problem with any of my buyers obtaining mortgages. Credit lending is just getting more in line with what it's supposed to be, you know, actually giving loans to people who qualify! Don't get me started. By the way if you do need an excellent mortgage person, call Kendall Golden with Wells Fargo at 864-254-7084. She has really done a wonderful job for my clients. She is doing a lot of refi's now with interest rates dropping.
Ok I want to mention something that needs to be addressed. Every time we have rain it seems like we have some accidents on I-385, I saw 4 yesterday. I don't think the road drains right and honestly it is need of some repair. There are a lot of ruts and torn up pavement. Hopefully with the good financial shape we are in Greenville will get on it soon.
Coming to town soon, check out Falls Park, will be pretty with the Christmas Lights out and while you are there mosey across the street to High Cotton, good food, just be sure you take a few extra dollars... :-0
Temp. has dropped since the front moved out, we're at about 42 right now. Good time to check the Paragon and the MLS. As of 6:56 am we have:
38 New Listings
71 Price Changes
16 Sold
33 Expired
626 Pending Transactions
There's a new one in Montebello, nice neighborhood, close to some good shopping and Paris Mountain. It's in the Spanish style section, lots are close, very low maintenance. Looks like a few good buys today too, call me for more info.
Heading up to North Carolina tomorrow to Wake Forest..Ya'll have a good one!
Thursday, December 11, 2008
Good morning! Got started a bit late, it's already 8:54.
So are you a listing agent or buyers agent???
Ok, I'm going to vent for a minute. I don't understand how realtors who list properties consider themselves buyer agents?? Have you heard the old saying you can't serve two masters, well it is particularly so in this business. That's why I tell people to never buy from the listing agent. I've mentioned this before but I think it needs repeating. We have this thing in South Carolina that somebody somewhere came up with called Dual Agency. Say what? In a nutshell it allows the agent to sorta represent both parties in the transaction, but actually what it calls for is for the agent to be "neutral" not favoring one party over the other. Really?
So you have a listing agent who has worked hard to get the house listed, or worse yet maybe even a friend of the seller. Along comes a buyer who agrees to dual agency. And the listing agent is going to stay neutral? I guess there's always a possibility that could happen, but why take the chance? Engage a buyers agent. I have no agenda, all I care about is helping you make the best decision based on what you tell me. I don't have a house to sell nor a seller to answer to. I don't get paid more for selling Remax listings. I've sold from Laurens to Pickens, from Spartanburg to Greenville to Anderson. Greer, Simpsonville, Taylors, Travelers Rest. Here's the thing. Because of the nature of my buyer clients, who come from New York to Florida, from Georgia to Texas to California, I go where they want to go and assist them in making that good decision.
So what's happening in Greenville today? Man it's wet. The rains came and we had some pretty strong weather in the Upstate, tornado warnings. I actually saw the rain blowing sideways and got a little worried.
I always like to recommend people who do good jobs in Greenville and I'd like to tell you about A-1 Auto on Wade Hampton. That's a family business that's been there for 25 years +. They do all my auto work, honest and hard working, and they charge a fraction of what the dealerships charge. Good people, ask for Russel or Ronald. I'm going to get by there and get a couple of shots for you along with another favorite place of mine. Do you like a good meat and 3? Check out the Cateran Lodge, they are just up the street from A-1 Auto. Ask anybody, they will tell you where it is. Come hungry, leave full and ready for a nap!
So what's going on in real estate this morning? We have:
34 New Listings
48 Price Changes
17 Sold (means they closed)
28 Expired
I see one on Augusta Rd. was withdrawn from one company and listed with another. This happens all the time folks. Sellers get impatient, another listing agent promises the world and there you go. Man I'm glad I don't list. I had an agent a couple of months ago tell me how much more money I could make if I listed. Sorry, I've got to stay true to what I believe in.....buyer agency.
Wednesday, December 10, 2008
We're having a Christmas Lunch today at The Downtown Greenville office at the Hyatt . Yum!
Let's check the mls first:
Over the past 24 hours as of 5:02 am we had-
48 New Listings
54 Price Changes (I bet I know which way)
18 Sold
27 Expired
Wow, I see two homes up for rent in Castle Rock. A property in the North Main area went withdrawn then active. What's up with that? Which brings me to a point. Not all new listings are new, they may just be changes in status like price, etc. If I have a buyer client ask about a property I always pull the property history report to see what has happened with the listing. Let me know if you need some property history.
Just got a call from a buyer the other day complimenting my web site. Thanks! It takes a lot of time and effort and I am really trying to add new interesting content that is not always readily available. I'm trying to do more tours with photography so you can get a long time residents point of view of the area and some neat places to go, eat and enjoy. One thing that I continually get from buyers and lookers is that they real like it that they don't have to sign in or up to look at homes or real estate property. You do have to create a property manager account if you want email updates or want to save properties but not to look, and look as much as you want.
One question I always get when I have buyers in town is what are the best schools. Caught a quick note that 8 high schools earned Nations Best from Newsweek!
Tuesday, December 9, 2008
Wow! Double Wow! My wife just got gas at $1.43 a gallon! She filled up the Landcruiser for under $30. When was the last time you could do that? Folks, gas is very reasonable in South Carolina....just like property taxes.....humm.......maybe that has to do with why so many people are moving to Greenville :-) oh yeah, it is a great place to live.
Did you know the South Carolina State dance is The Shag? It became so in 1984 when representative "Bubber" Snow introduced the bill and then governor Dick Riley signed it. Carolina Shagging is popular with a lot of people in South Carolina. I've put together a little tour of Greenville here with two of my favorite beach music bands, The Chairman of The Board and The Embers. Ok, so don't get confused, I know Greenville is not at the beach but beach music is commonly what is associated with Shaggin....
Hey, if you're coming to town for a visit, give me a call so I can recommend a place to stay. If you want to stay downtown there are four good places. And man there are a lot of good restaurants. Just had a client give me a gift certificate for dinner for my time and effort. Nice people. Let me recommend a cool little place on the West End, Oysters On The West End.
Let me talk about the market a bit. We are slower now, mainly because of Christmas. So if you are thinking about buying a home in Greenville, Simpsonville, Greer or the Upstate you might want to come now. I see tremendous pent up demand busting out in the next year and as you know it's just a matter of supply and demand. Over the past 24 hours as of 6:06 am.
54 New Listings
50 Price Changes
18 Expired
Check out 1171854 on Cureton. Could be interesting if you want Augusta Rd. area. There's one in Half Mile Lake if you want a great family neighborhood. Average list price for these new 54 is $254,369 ranging from $39,900 to $1,799,000.
Did you know there are a number of historic districts in Greenville? They include, Pettigru, Heritage, West End, Overbrook, Hampton Pinckney, East Park, Colonel Elias Earl, Heritage. Are some better than others, you betcha. Need help, call me at 864-335-8490.
Monday, December 8, 2008
I've decided to start back with my updates for you readers. Other realtors might call this Greenville blogging. I just call it offering my opinion on things I see and hear or read about in the Upstate of South Carolina. At a minimum I'll check the MLS for you over a 24 hour period and let you know if anything interesting pops up. At a maximum I'll opine and comment on things I like, don't like, agree or disagree with. Now remember ....Ya'll.....this is just an opinion. If you are liking what you read, please bookmark me and check back. Hopefully I'll have a RSS feed up shortly.
Currently it's 36 in Greenville with a high expected today of 48 which brings up a point. It's been rather cool to cold in Greenville this fall. We are normally a lot milder. You can see average temperatures here. Looks like it is going to continue that way through winter.
Got to shoot the Byrnes Sumter high school football championship at Clemson this past Saturday. I'm a Clemson grad and love being in Memorial Stadium. Photos of the game are located here. I shoot for MaxPreps when I'm not busy helping people make good decisions with real estate. I'm really looking forward to the Shrine Bowl at Wofford College..be some of the best high school talent in North and South Carolina.
Let's take a quick look at the market over the weekend. I've just opened Paragon, our MLS program which allows realtors to search and preform various functions in the area. I am pulling info from the past 3 days as of 10:03AM.
76 New Listings
62 Price Changes
54 Listings Expired
Currently there are 606 pending listings
Let's see if there is anything interesting. One in Pelham Falls might be worth a look. Great neighborhood in the Riverside High School District. Built in 97 and priced in upper $200's. Folks I can't comment on pricing till I actually see the home, pictures look decent though. It's mls 1171799 if you want to enter it in my listing number search above. WOW an expensive one came on at Cliffs Glassy. Speaking of Cliffs I want to mention that I know of what I think is a great buy of a bank owned property that may interest you. Call me if you'd like details. There is a new listing at Woodruff Lake, actually it's been relisted. I showed it a month or so ago. Nice home, shows well, well kept, good area. Let me know if you would like to schedule a showing.
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