Free Updated Daily Boiling Springs Search
by Rob on June 24, 2010
in Boiling Springs Home Buyers, Boiling Springs Home Sellers
Search Boiling Springs SC Real Estate
This Boiling Springs, SC real estate blog is designed to maximize your time understanding Boiling Springs real estate. You can search the MLS for Boiling Springs property with the results updated daily. As an active investor I’ve even automated a search for Boiling Springs foreclosures that is updated daily!
We will also discuss Boiling Springs homes for sale, land for sale, commercial and businesses for sale, Boiling Springs architecture, landscaping, and other things that make our Boiling Springs community our home. Subscribe to Boiling Springs Homes For Sale by Email. Rob Turchetta, an international and local real estate investor, has personally bought and sold over a hundred homes and is a licensed Realtor with Keller Williams Spartanburg in “Upstate” South Carolina. Contact Rob Turchetta Boiling Springs Realtor.
How Many Homes For Sale are in Spartanburg County?
by Rob on July 26, 2010
in Boiling Springs Market Conditions, Spartanburg Real Estate Market Conditions
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Spartanburg County Home Inventory for June 30, 2010
- Number of Homes for Sale in Spartanburg County
The amount of Spartanburg County homes for sale is at an all time high. from June 2008 to June 2009 the amount of homes for sale in Spartanburg county increased 97%!!! from 1,877 to 3,590. That increase was driven by a poor economy and easy credit standards allowing virtually anyone to buy a home. Read more..
How Many Times Does the Average Spartanburg Home Get Shown Per Month?
by Rob on July 21, 2010
in Boiling Springs Home Sellers, Boiling Springs Market Conditions, Spartanburg Real Estate Market Conditions
When a residential home seller has their home listed for sale on the market expectations for a sale are usually high at first and then wane with time. Each passing day seems to dim the hope of a quick sale and creates doubt and frustration. Thoughts such as: Maybe we should paint the living area? The front really needs to be pressure washed. Should we reshingle the roof? Honey, I told you we should have remodeled the bathroom! and on and on the thoughts go. Many times these thoughts are valid but often they are just over kill.
Irrespective of our hopes and doubts, what is the proper expectation a seller in Spartanburg county SC should have as to the number of physical showings per month. We all know that zero is too low but how many is too high? Read more..
Spartanburg County Home Showings for 2010
by Rob on July 16, 2010
in Boiling Springs Market Conditions, Spartanburg Real Estate Market Conditions, Uncategorized
A precursor to Spartanburg home sales is the number of home showings in the Spartanburg market place.
This chart is a large sample of showings from an appointment setting service that schedules a significant amount of showings in the Spartanburg market. Therefore, it can be considered an accurate sample size for the Spartanburg county home showing rate. Read more..
Home Buyer Tax Credit Extended to September 30, 2010
by Rob on July 1, 2010
in Boiling Springs Market Conditions, First Time Home Buyer
Home Buyer Tax Credit Extended for 2010
After a close brush with the deadline, Congress has passed an extension of the Home buyer Tax Credit closing deadline, the Home buyer Assistance and Improvement Act (H.R. 5623). The extension applies only to transactions that have ratified contracts in place as of April 30, 2010 that have not yet closed. The legislation is designed to create a seamless extension the new closing deadline for eligible transactions is now September 30, 2010. There is will be no gap between June 30 and the date the President signs the bill into law.
The National Association of Realtors (NAR) worked closely with Congressional leaders on both sides of the aisle to enact this important legislation. Extending the Tax Credit Closing deadline will help provide additional stability to real estate markets across the nation.
Mortgage Rates Drop To Lowest Levels on Record!
by Rob on June 24, 2010
in Boiling Springs Home Buyers, Boiling Springs Market Conditions
Spartanburg Mortgage Rates at Historic Lows
With the government sponsored tax credits expiring on April 30th just about all real estate experts expected sales to drop off the proverbial cliff in the following months to come. Those months to come were the traditional home buying and selling season too where we annually see the highest amount of sales per month.
Surprisingly, sales in Spartanburg and Boiling Springs areas of South Carolina have been strong. In fact I have had all the business I could handle while getting the tax credit rush transactions closed. This month in June we have put 4 more homes under contract. Not bad considering the rush of buyers in March and April.
So, why is the real estate market staying so hot? Read more..
How Long Does it Take to Sell a Home In Boiling Springs?
by Rob on May 18, 2010
in Boiling Springs Market Conditions
Days On Market for Spartanburg Home Sales
This is the question everyone wants to know when selling a home. “How long will it take to sell my home?” Beware of the person who has the fast and easy answer for you. Unless they are willing to buy it themselves the fact of the matter is that no one can really know for sure. What separates a salesperson from a consultant is the use of market facts.
In 2008 homes that sold took an average of about 120 days to sell, or 4 months. 2008 was just the beginning of the credit squeeze put on by lenders and loans became more and more difficult to get as large investors began to realize that their mortgage backed securities were not what they were told they were. Fast forward to 2010 and we have those same large mortgage investors running from mortgage loan investments. Because things got so bad, the government stepped in to buy mortgage loans as credit became tighter and tighter. As a result, Days on Market (DOM) for homes that sold increased from 120 days in 2008 to about 160 days today. Experts predict that DOM will increase going forward as the government recently announced that they will no longer be buyers of mortgages in the secondary market. Speculation is that interest rates will have to rise to entice large investors back into buying these investments. Increased interest rates will make the monthly cost of homes more expensive forcing some home buyers into smaller homes thus shrinking the buyer pool for larger homes and increasing the DOM for those homes.
However, the Spartanburg Board of Realtors data above only includes the Days On Market for homes that sold. What about the homes that did not sell? Read more..
Good Reminder for Real Estate Investors
Being an active real estate investor myself and knowing 100′s of local investors I know that many of us need to keep the pursuit of profits in the proper perspective. If you are not familiar with Chuck Missler at www.KHouse.org than this article from his site below is a must read. Chuck was a CEO and extremely successful business man who started his own ministry based on research and facts. I hope you enjoy the read.
INVESTING BETTER THAN WARREN BUFFETT
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” – Warren Buffett
The average American may not be able to immediately bring his face to mind, or know exactly what he does, but Warren Buffett is a name familiar across our country and throughout the world as synonymous with investment and high finance. Admiringly dubbed “The Oracle of Omaha,” 73-year-old Buffett currently holds the title of Third Richest Man in the World and is founder, CEO, and Chairman of Berkshire Hathaway, a investment brokerage firm with perhaps the most astoundingly successful portfolios in US history.
Buffett has his hands in everything from GEICO to Dairy Queen to Goldman Sachs, from Burlington Northern Railways and Benjamin Moore Paints to Coca-Cola, Nebraska Furniture Mart, KRAFT Foods and even Pampered Chef. Buffett stakes a claim in them all, and many more, by either buying out all stock or by being primary shareholder in each concern. What’s more, Buffett is a self-made billionaire, having earned his assets and influence from the bottom up, and in his roles as financial advisor, philanthropist, CEO, and chair of multiple boards and companies, has earned the reputation as arguably the most successful investor in all of American history. He is an investing phenomenon.
Warren Edward Buffett was born in Omaha, Nebraska on August 30th, 1930 to Leila Stahl Buffett and investor-turned-politician Howard Buffett. He is the middle child of the family’s three offspring, and the only son. Buffett’s father operated his own stock brokerage firm, and young Warren demonstrated a startling aptitude for calculations, hard work, and turning a profit at a very early age. When his father was elected to Congress and the family moved to Washington, DC in 1942, Warren was given a chance to access the world of political activism and view the economic and financial advisory aspect of government.
At age six, Buffett began his first business of re-selling bottles of Coca-Cola from his grandfather’s grocery store door-to-door in his neighborhood. Like many children, he earned money by holding paper routes. Unlike most children, he used money from his three paper routes to purchase a piece of real estate in the form of Nebraska farmland at age 14. He rented out the farm and collected rent. At age 11, Buffett bought his first stock – six shares of Cities Service Preferred – from his father’s brokerage firm. The stock greatly decreased in value, and when it rebounded, he sold it for six dollars in profit. A short time later, the stocks rose to $200 each. He thereby learned his first, and perhaps most vital, lesson in investing: patience in waiting out the inevitable ups and downs of “Mr. Market.”
At Columbia University, Buffett became a devoted student under investment guru Ben Graham and the only student to ever receive an A+ in one of Graham’s classes. Graham was chairman of a then unknown insurance company, GEICO, which Buffett became fascinated with and decided to visit. When let in by a janitor, Buffett found the auto insurer’s Financial Vice President at work and began a four-hour discussion regarding GEICO’s business practices. Buffett would, over the years, come to work for and buy out the insurance vendor, turning it into a nationally recognized entity under his investment powerhouse, Berkshire Hathaway.
Buffett’s most recent acquisitions include his February 2010 purchase of all remaining Burlington Northern Santa Fe Railway shares. The BNSF buyout became Berkshire Hathaway’s biggest investment in its history, and as with nearly every stock Buffett purchases, market prices jumped afterward. “Our country’s prosperity depends on its having an efficient and well-maintained rail system,” Buffett told the press, and Buffett eagerly looks toward the growth and continued US reliance upon railway transport over the next century.
“Since 1790, this (the USA and its economy) is the wonder of the world,” Buffett was quoted by USA today’s Dan Reed in March. “The ingredients of that have not disappeared from this world; 9/11 and all sorts of things have come and gone, but the United States’ success story isn’t over.” Buffett’s characteristic belief in responsible free enterprise and the vast network of American commerce lent strength to his massive railway investment, which he called an “all-in wager on the economic future of the United States.”
Buffett firmly believes in personal character, sound business practice, solid management, and frugal governance from deep within the foundations of a corporation, not just bottom-line analysis and profit by dollar amounts alone. He believes in investing in American-made products, goods, utilities and raw materials, rather than in trends.
Yet, in all his success and good-doing, Buffett does not acknowledge the God who has given him the ability to gain wealth. Buffett was raised Presbyterian, but now considers himself agnostic. His daughter Susie A Buffett is chair of The Susan Thompson Buffett Foundation, which focuses on population control and provides large amounts of money to Planned Parenthood and family planning clinics on university campuses and elsewhere across the US, providing funding for abortions – which Susan and Warren Buffett heavily campaigned to promote throughout the 1960′s.
Americans can stand to learn a few things from Warren Buffett. He works hard and makes decisions based on long-distance value rather than immediate gratification. Yet, he has thus far failed to appreciate the value of the greatest long-distance investment of all – a true relationship with the King of the Universe. If that doesn’t change for him, all the riches of this life will come to mean nothing, and the poorest Christian dying in the slums will be better off than he is.
Let’s all learn to make truly wise investments.
“For what is a man profited, if he shall gain the whole world, and lose his own soul? or what shall a man give in exchange for his soul?” -Matthew 16:26
“But lay up for yourselves treasures in heaven, where neither moth nor rust doth corrupt, and where thieves do not break through nor steal:” -Matthew 6:20
4 Bedroom Home with Pool on Cul-de-Sac Reduced $10,000
by Rob on March 16, 2010
in Boiling Springs Home Buyers, First Time Home Buyer
Here is possibly the best home purchase deal in Boiling Springs right now.
The facts:
4 Bedrooms, 2 Full Baths
Large Recreation Room
Cul-de-Sac Location
In-ground Swimming Pool with Brand New Liner
Freshly Remodeled and Painted, ready to move in
Excellent Location off Old Furnace Road in Boiling Springs
Price: Just reduced $10,000 to only $119,900
Qualifies for 100% Government Financing!
The best deals sell the fastest and this bargain will not be an exception. If you know of anyone looking for a home with equity built into it do them a favor and let them know about this one. It will sell soon at this price.
Boiling Springs Home with Swimming Pool
Boiling Springs Home with Swimming Pool on Cul-de-sac
Spartanburg & Boiling Springs Home Values in 2009
by Rob on March 13, 2010
in Boiling Springs Market Conditions
Yesterday we looked at the long term trend of house values on a national basis and saw that home prices increased in value significantly. We also discussed in the short term a trend will experience peaks and valleys, ups and downs if you will. Today we will look at. . .
Spartanburg County Home Values for calendar year 2009.
In 2009 the national median home price declined 12%. Compared to some of the swings we have seen in the DOW and other stock indexes this is a rather tame change after a period of such robust growth. Long term annual price appreciation has been 4%. While few like to see a pull back in values the decline is still a move towards the norm and a reflective market change considering government intervention into financing and job creation (or is it destruction?).
Locally Spartanburg home values decreased 9% and Boiling Springs house values decreased 9%. I was not surprised to see the Boiling Springs value decrease 9% as I had been telling clients we have seen about a 10% decrease in our house values. I was surprised that the Boiling Springs area did not outperform Spartanburg however as I expected a slightly larger decline here. I suspect that Spartanburg felt the financial impact of the economic slow down earlier and reflected the price decrease in 2007 and 2008. Still our community as a whole significantly outperformed the national market over the last few years to the tune of being named the #3 market in the country! Even with our strong performance over the last few years we still out performed the national market in 2009 decreasing 9% compared to 12% nationally.
Spartanburg & Boiling Springs House Value Trends in 2009
I suspect we will continue to see downward price pressure locally with higher levels of inventory, some motivated sellers, and increasing interest rates shrinking the buyer pool leading the trend. Still, our local market should continue to outperform the national housing market as South Carolina is an affordable, beautiful place to live that the rest of the country is still discovering.
Keep Looking Up – Luke Ch21 Vs28
Rob
