Hanging Rock Subdivision, Boiling Springs SC Home for Sale

The Hanging Rock subdivision in Boiling Springs offers a great pool recreation area and a strong home owners association to keep property values up. 

 

It has a beautiful entry way with lush landscaping on both sides of the entrance and the community pool area is located just to the left when entering the subdivision.  It’s location is convenient to everything.  All the schools are located with in minutes:  Elementary, Middle, Jr. High, and the High School are all very close by.  Wal-Mart, Lowes, and restaurants, are all only a mile away. 

The community even has a small lake towards the back with homes built around most of it. 

 

If your looking for something to do look no further than the park that borders the subdivision.  It’s hard to get much closer than that!  Baseball fields, community centers that are special needs accessible, play grounds, a BMX bike course, and more are just a walk from this community. 

There is a beautiful home for sale at 469 Slate Drive that backs up to the park: 

Click here for full details for 469 Slate Drive Hanging Rock Subdivision 

The two story living area with fireplace will greet you with warmth yet maintain an open feel as you enter this home. Precede to the back as the separate dining room and kitchen complement each other well while maintaining their distance. This home has an excellent floor plan. The First Floor master bedroom with full bath, double vanities and walk in closet will save time and effort every day. Upstairs you will find a large, multi- 

469 Slate Drive, Boiling Springs SC

 

angled bonus room great for an office and recreation room. Socialize at the community pool or get lost in your private back yard with a great sloped natural area just waiting for your HDTV outdoor touch. 

Nice Entry Way with Wood Flooring

 

Living Area with Stair case

 

2 Story Living Area with Fireplace

 

Open Kitchen with window over sink

 

Dining Room Opens to Backyard and Kitchen

 

Multi Angled Bonus Room

 

Level Backyard with raised natural area

 

First Time Home Buyer Program

Introducing a First Time Home Buyers Program for Spartanburg and Boiling Springs that will help new buyers immediately.  New Home Buyers that buy a home with me will qualify for $500 cash back at closing by referencing this new 1st time home buyer credit.

Now is the best time to buy a home in recent memory and possibly ever.  Possibly there has never been a better time to buy a home, period.  Let’s look at the reasons why:

1)  Interest Rates are low:  Interest rates are at their lowest levels in years and they can almost go no where but up.  With our government deciding to inflate the US currency and market inflation a near given, locking in low interest rates before they go up for years and years is a wise move.  The average current 30 year fixed rate mortgage is at 4.97%.

2) The government tax credit of 10% of the home purchase price up to $8,000 can be used for a down payment or to pay closing costs in many cases.  This means home buyers do not even have to pay closing costs or put money down potentially.  Another option is to get the tax credit back later to customize your home with drapes, paint colors, towels, etc. that make a house your home.

3)  Areas like Boiling Springs SC and Inman SC qualify for USDA Rural Development loans that allow buyers to buy home with reduced payments and reduced qualifying standards.  This is a great program.  To see if you qualify for this program or if a house you are interested in qualifies call me at 864-621-7900.

4) Buyers can now get $500 back at closing when buying a home through me.  When you buy a home there will be many things you will find to do to make the house your home.  From making repairs, to buying appliances to changing the color of rooms all these “little” changes add up to real dollars.  That is why I am giving back to new home buyers.  Just reference the $500 Spartanburg New Home Buyer Coupon.

Right now is a great time to by an affordable home and stop paying rent.  If you know someone who should be owning their own home have them contact me today.

Boiling Springs MLS

This Boiling Springs real estate search site is like the city having it’s own MLS service to look for homes or investment property.  If you have not checked it out, search for Boiling Springs SC foreclosures, homes, and investment real estate here.

The search site has recently been updated with explanations of each search category at the bottom of the page.  These categories include:

Single Family Homes

Government Foreclosures

MLS Foreclosures

Town Houses

Condominiums

Lots

Land

Mobile Homes

Multi-Family Properties

Commercial Real Estate

Again, these categories are updated everyday.  Call me for a list of Boiling Springs homes offering Owner Financing at 864-621-7900.

First Time Home Buyer Tax Credit Spartanburg & Boiling Springs Area

Sales in the Spartanburg MLS have been spiking up this entire week. Why? We are approaching the expiration of the First Time Home Buyers Tax Credit for Spartanburg.

The First Time Home Buyers Tax Credit expires on November 30. That is significant news now in early October because once you find a house you like it generally takes 30 days for the lender to organize the paper work to close the loan!  Therefore November 30 minus 30 days equals October 31.  But wait, banks are taking longer to close now so 40 to 45 days is not unusual!  This means that your Boiling Springs lenders need to start processing your loan on about October 15 2009.  That gives home owners 2 weeks to find the home of their dreams and with everyone trying to beat the same deadline competition for the best Spartanburg and Boiling Springs homes is heavy.

If you would like to buy a home in Spartanburg county and have not owned a home in the last 3 years give me a call and we will find you one right away.  With many homes on the market and prices better then they have been in a long, long time, the time to buy a Spartanburg home has never been better.

Here is some information on the First Time Home Owner Tax Credit.  Hurry, it is almost over.

Owner Finance Boiling Springs Home

As many Boiling Springs and Spartanburg homeowners face foreclosure or damaged credit for a variety of reasons sellers offering owner financing is becoming more and more common.  Owner financed homes in Boiling Springs range from expensive luxury homes to affordable simple homes to everything in between.

I’d like to highlight one Boiling Springs Owner Financed home here:

1088 Wilkins Ford Road, Inman, SC

For just a $467/month payment that INCLUDES your principle, interest, taxes, and insurance, you can own a 2 bedroom 1 bath home on 1 acre with a large shed equipped with electric. At a cost this low it rarely makes sense to rent and have nothing left to show for your money at the end of the month. By owning and financing your own home part of each payment goes to payoff the amount owed on the home.  This is called your principle payoff. If you decide to sell the home at some point you can pocket the difference between what you sold the home for and what you still owe on the property.  This is called realized equity.

For this Boiling Springs Owner Financed Home, or should we say Inman Owner Financed Home the land alone is worth at least half the selling price.  It is 1.01 acres of level, flat land.  Water and electric utilities are already run to the land and a septic tank is already installed.  These are costs often not thought about but connecting water service to your land can be thousands of dollars alone.

If your tired of paying rent but have credit problems or just keeping a budget consider this home before it is gone.  Oh yea, and owner financed homes also qualify for the First Time Home Buyers Tax Credit set to run out on 11/30/09.  Call me for help in finding an owner financed home in any price range.  Search for homes in Boiling Springs SC here.

Spartanburg SC Real Estate Market

So, after spending the week reviewing the inventory of residential real estate in Spartanburg SC do you think we are in a buyers market or a sellers market?  Or do you think it is a balanced market with an equal amount of sellers and buyers?  This is the last post in the series exploring residential real estate inventory in Spartanburg SC.  This area is also called the absorption rate of Spartanburg SC residential real estate.

Here is the data again to refresh your memory:

Data Source: Spartanburg, SC MLS
Price Range	Current Active Listings	Sold Listings	Date Range	Solds per Month	# Months of Inventory
$0 – $100	816	1156	12	96.3	8.47
$100 – $125	343	421	12	35.1	9.78
$125 – $150	411	373	12	31.1	13.22
$150 – $200	528	423	12	35.3	14.98
$200 – $250	287	206	12	17.2	16.72
$250 – $300	219	100	12	8.3	26.28
$300 – $350	133	49	12	4.1	32.57
$350 – $400	130	35	12	2.9	44.57
$400 – $450	74	30	12	2.5	29.60
$450 – $500	71	26	12	2.2	32.77
$500 – $600	74	17	12	1.4	52.24
$600 – $750	41	8	12	0.7	61.50
$750 – $1 million	48	3	12	0.3	192.00
$1 million – up	40	2	12	0.2	240.00

After reviewing the inventory of homes in the Spartanburg and Boiling Springs areas what do you think?  Buyers market?, Sellers market?, or a Balanced market with an equal amount of sellers and buyers?

I’m betting most would say it’s a buyers market meaning there are more sellers in the Spartanburg market than there are buyers.  With more houses to choose from buyers have the chance to be more selective and sellers have to compete more aggressively to sell their homes creating a downward pressure on home prices.

But is this the right answer?  What’s my opinion you ask?  Well, at the highest level I would say it is more of a buyers market and slowly continuing to trend that way.  However there is a big but, and it’s a big one.  Just like the best home values always sell the fastest, it’s the same for the best areas as well.  A good clean, safe community with good schools and low crime will always sell faster than one that ranks lower on these same criteria.   With the economy continuing to tighten, despite what our president is trying to get us to believe, people are trying to secure monthly mortgage payments they can afford.  When we combine this trend with affordable houses in neighborhoods that meet the above description we get areas that are holding their home values extremely well.  Boiling Springs home values in the affordable price range, despite a high inventory measured in around 1 year, are doing very very well.  With so much talk of foreclosures in the news why are buyers willing to pay market prices for these homes?  The answer is simple.  Becuase they are worth it.  The home will provide a safe haven for their children, parents, spouses, pets, hobbies, etc.

On the other end of the spectrum are rental property with 2 bedrooms and 1 bath with differed maintenance  in downtown Spartanburg SC that once appraised at $70,000 and now are lucky to appraise at $30,000.  Banks have taken so many back in foreclosures that they do not want to loan money on more until they sell what they already own.  Investors then can’t get loans to buy these Spartanburg rental houses making the buyer pool smaller and limited to cash laden investors and cash laden home owners comfortable in that community.  With more time available it would be interesting to see a further breakdown of the sub-$100,000 Spartanburg residential real estate market as I suspect the under $50,000 houses are plenty but the over $50,000 houses are moving well overall.

I hope you enjoyed this look at the Spartanburg SC residential inventory.  We are much better off then many parts of the country and even here builders are still building and buyers are still buying new homes.  Sellers are still selling for every imaginable reason and home repair specialists are still repairing.  Economies will always have ups and downs and many think we are on our way to being at a bottom in the not too distant future.  While we cannot predict exactly what is next and when it will come, we can use the facts available today to make better decisions tomorrow.

You can search available Boiling Springs homes homes in all the price segments here.

God Bless and keep looking Up.

Eagle Pointe Boiling Springs, 723 Waxwing Court

HERE IS THE DESCRIPTION OF A GREAT EAGLE POINTE SUBDIVISION HOME IN BOILING SPRINGS SC LOCATED ON A CUL-DE-SAC

Beautiful all brick home tucked away on a quiet cul-de-sac with extensive landscaping any bed & breakfast would be proud of. Come home to a retreat far from it all yet in a subdivision close to shopping, restaurants, and HWY I85. This home has its master bedroom on the main floor with a full bath which includes double vanities, a garden tub, and a separate shower. Enjoy the humming birds outside in your secluded backyard or watch television near the fireplace on a cold winter night. Either way this home is special.

This home really is special.  It is tucked away on a quiet cul-de-sac.  It is in a great subdivision called Eagle Pointe in Boiling Springs SC.  It is spotless on the inside and ready to be moved into.  It is meticulously landscaped ALL around the 3 bedroom 2 bath home.  One of the aspects of real estate home buyers often over look are the little things that need to be done to a home.  The reason why they are so important is because the cost of them add up quickly.  This home has thousands of dollars invested into it that other similar homes in the same price range do not have.  It’s not just about how much additional improvements cost.  If your one to do home improvements yourself there is also the time factor.  Only so much can be fit into most people’s busy schedules of today.  If you would prefer a move in ready home this one in Eagle Pointe deserves strong consideration.

MORE information on 723 Waxwing Court, Boiling Springs SC

Spartanburg and Boiling Springs Homes for Sale From $200,000 to $300,000

Today we will take a brief look at Spartanburg county homes selling in the price range of $200,000 to $300,000.  There are currently 506 Spartanburg homes for sale in the price range with 306 homes selling in the last year.  This converts to 25.6 homes sold per month for a 19.8 month supply of homes in the Spartanburg real estate market.  As seen in the chart below this inventory supply balloons to 26 months for homes prices from $250,000 to $300,000.  Clearly this speaks to our local market and income demographic as affordable monthly mortgage payments remain at lower levels during this economic environment.

It also tells us that lenders and builders did not do their economic home work well enough by clearly over targeting this price range.  These people are not dumb so market conditions can obviously  be tricky.  As square footage goes up profitability tends to go up as well attracting more builders to build larger and larger homes.

On the bright side this potentially represents a good buying opportunity for higher priced Spartanburg homes.  Those with secure and appropriately sized incomes might want to consider “watching” this price segement for bargains that would make a purchase in this range attainable or just more comfortable financially.  Click here to search Boiling Springs Real Estate from $200,000 to $300,000 . Call me if I can help in anyway.

Source: Spartanburg, SC MLS
Price Range	Current Active Listings	Sold Listings	Date Range	Solds per Month	# Months of Inventory
$0 – $100	816	1156	12	96.3	8.47
$100 – $125	343	421	12	35.1	9.78
$125 – $150	411	373	12	31.1	13.22
$150 – $200	528	423	12	35.3	14.98
$200 – $250	287	206	12	17.2	16.72
$250 – $300	219	100	12	8.3	26.28

Spartanburg, SC Homes for Sale from $125,000 to $200,000

The $125,000 to $200,000 price range of Boiling Springs homes and Spartanburg homes accounts for most of the “middle class” price range if you will.  Currently there are 815 homes listed for sale in the Spartanburg MLS for this price range.  The yearly sales rate is 796 or 66.4 homes sold every month.  This means that there is over a 14 month inventory of homes in the Spartanburg market for sale between $125,000 to $200,000.

This segment represents about 28% of all home sales in the county.  Combined with the lower priced homes looked at previous to today the group accounts for 83% of all homes sales in Spartanburg county.  As the price range of Spartanburg homes increased we saw the supply of homes increase as well with today’s group having a supply over 14 months based on current absorption rates.  This is very interesting because we will see this trend continue as we look at higher and higher priced homes.  Clearly the economy is making people think twice about larger mortgage payments.

If you are selling your mid priced home today, and know that there is a 14 month supply you have to take this into consideration as you determine your marketing elements of pricing, staging, etc.  If you don’t do all you can do the buyer has plenty of other homes to choose from.  Each showing needs to be maximized for it’s potential to sell before that buyer walks into another Spartanburg county home. Click here to search Boiling Springs homes in the $125,000 to $200,000 price range.

Next we will look at the $200,000 to $300,000 price range.

Here is the table we have discussed to this point:

Source: Spartanburg, SC MLS
Price Range	Current Active Listings	Sold Listings	Date Range	Solds per Month	# Months of Inventory
$0 – $100	816	1156	12	96.3	8.47
$100 – $125	343	421	12	35.1	9.78
$125 – $150	411	373	12	31.1	13.22
$150 – $200	528	423	12	35.3	14.98

Spartanburg County Homes from $100,000 to $125,000

Source of Data: Spartanburg, SC MLS
Price Range	Current Active Listings	Sold Listings	Date Range	Solds per Month	# Months of Inventory
$100 – $125	343	421	12	35.1	9.78

Today we will look at Spartanburg county homes priced in the $100,000 to $125,000 price range.  This is a range of homes attractive to first time home buyers and budget priority households. (note – this does not mean lack of money, I myself live in a house much below what I am able to afford).  It is the 3rd largest price segment of Spartanburg homes for sale.  To generalize this and the next few Spartanburg price segments we look at will be a good gage of “working America” and the economy as a whole.  As you will see every segment will give us insight into our local economy and together paint a great picture of the current state of real estate in the Spartanburg and Boiling Springs areas.

If you are selling a home in this price segment you are competing with 342 other homes (of course not all homes are competing directly with your Spartanburg area home) with a sales rate of 421 homes per year.  This breaks out to 35 Spartanburg area homes selling per month resulting in a 9.78 month supply of homes on the market.  This means that if not another home was offered for sale the current homes on the market would accommodate home buyers for the next 10 months!

Of course we know there will be more Spartanburg area homes coming onto the market every day and homes selling everyday.  Our hope is that the rate of sales out paces the rate of people selling their Spartanburg real estate from $100,000 to $125,000.

Again, the best homes sell the fastest.  “Best” is a relative term and is a combination of “product”, your property, and price.  The best home, if priced incorrectly, will not sell quickly.

Buying a home in this price range demands attention to other areas that you cannot control more so then the higher price levels we will look at later.  For example, while you might keep your yard nicely manicured it might not be your neighbor’s highest priority.  Subdivision, a function of location, is even more critical in mid-level housing price ranges.

If you would like to sell or buy a home in the Spartanburg and Boiling Springs market in this price range there are specific things you can do to improve your chances of selling and making sure you buy correctly.  I can make sure all those “things” are considered. Search here for Boiling Springs homes priced $100,000 to $125,000.

Next we will look at the $125,000 to $150,000 price range segment of homes for sale in Spartanburg, SC

NEW Spartanburg and Boiling Springs Foreclosures

I can now offer for sale government foreclosures in the Spartanburg and Greenville SC area. Click on the below house icon to review government foreclosed homes in the Spartanburg and Boiling Springs real estate market. This search has been added to the homes search page. Happy home hunting!

« Previous Page — Next Page »