4 Bedroom Home with Pool on Cul-de-Sac Reduced $10,000

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.

Spartanburg & Boiling Springs Home Values in 2009

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.

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

National House Value Trends Continue to Support Home Ownership

I was just sent the below housing trend chart from Tambie Caggiano at Prime Lending and thought it under scored a very important principle that serves as a great reminder to us with all the main stream negative news regarding the housing market.  That principle is that owning your own home can be the best investment one can make to build wealth and financial security. Read more..

South Carolina State Housing Authority 2010 Program

The South Carolina State Housing Authority will be announcing a new program that they are starting on March 3rd called …”PALMETTO HERO”…READ BELOW FOR INFO:

TEACHERS – POLICE OFFICERS – CORRECTIONAL OFFICERS – FIRE FIGHTERS AND EMS

Here are the highlights of the lending program:

$7,000 REPAYABLE DPA (down payment assistance) AVAILABLE for Category I

$7,000 FORGIVABLE DPA AVAILABLE for Category II

5.125 % FIXED RATE for both Categories

$40 MILLION OF FUNDS WILL BE AVAILABLE

If you know of anyone that you think may benefit from this new government loan program, have them give me a call and I will get them started.  While $40 million dollars might sound like a lot it is amazing how fast these monies tend to go.