Spartanburg County Homes from $100,000 to $125,000
by Rob on September 16, 2009
in Boiling Springs Home Buyers, Boiling Springs Home Sellers, Boiling Springs Market Conditions
| 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
by Rob on September 15, 2009
in Boiling Springs Home Buyers, Boiling Springs Home Sellers, Search Boiling Springs Homes For Sale
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!
Spartanburg County Residential Inventory $0 to $100,000
by Rob on September 15, 2009
in Boiling Springs Home Buyers, Boiling Springs Home Sellers, Boiling Springs Market Conditions, Search Boiling Springs Homes For Sale
| Over the next few days I would like to look at the “inventory” of Spartanburg county homes on the market right now so we can have a better understanding of what to expect in the future. Today we are going to look at homes priced from $0.00 to $100,000.If you are selling a home under $100,000 in Spartanburg county then you have 815 other Spartanburg homes for sale competing with you. Now of course they do not all directly compete with yours as some will be 1 bedrooms, 2 bedrooms, old, new, other side of town, etc. However, with 816 homes for sale in Spartanburg county under $100,000 and 1,156 homes selling in 12 months, there is a 8.47 month supply of Spartanburg homes under $100,000 on the market right now. (See the table below) Click here to search for Boiling Springs homes priced up to $100,000.
This means that if you have a home for sale under $100,000 it is taking 8.5 months to sell it. The Spartanburg homes that sell first are the best ones that are priced correctly or even below market. What’s the lesson in this table below. We are in a buyers market right now. There are more sellers then there are buyers. Since buyers have a lot of choices right now the seller has to take an active role in selling their home. This means making your home look better and nicer then your competition down the street. It is no coincidence that one of the top jobs out there right now is a home staging professional. For less then 1/2 of a mortgage payment sellers can maximize their selling chances by getting their house to appeal to buyers. Don’t know who to call for help to spruce the place up? Feel free to give me a call. 864-621-7900 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 |
Stupid Boiling Springs Real Estate Questions
by Rob on September 2, 2009
in Boiling Springs Home Buyers, Boiling Springs Home Sellers, Boiling Springs Market Conditions
Those who know me know that Robert Kiyosaki, the author of the popular “Rich Dad Poor Dad” Financial book series, changed my life. It was the first time I heard somebody say everything I had always thought but never knew how to say it. I knew something was wrong with the system. With the way most people thought. With the way people in power, subject to the limitations of the flesh, would most likely take advantage of those ignorant of how things really work. However, with no nobody to explain the truth to me, I thought I was just a misfit.
By now most of us have at least heard about the financial crisis happening in our US government. Politicians, with agendas not based on honest, patriotic American people, are inflating our money supply so rapidly that at best we will enter into a period of enormous inflation. While their agendas are outside the scope of this blog, I will stick to the question of what is the impact on Boiling Springs homes and real estate?
Boiling Springs homes for sale have held their values while much of the country has seen significant drops in value. But what will be the impact of the dollar losing it’s purchasing power when it comes to the value of homes? I see 2 different forces at play here:
1) People will have less money to spend because they will be spending more on groceries, gas, etc. Therefore there will be less money available to pay the monthly mortgage payment. This is a downward pressure on Boiling Springs home prices.
2) It will take more dollars to buy a Boiling Springs house or any Boiling Springs real estate for that matter because each dollar is worth less. This is an upward pressure on Boiling Springs home prices.
Owning a home in Boiling Springs is still one of the best investments a person can make to build wealth. As we move into uncharted financial territory owning a home with an affordable monthly payment will be even more important than it is today. Where are home prices going in the future? Ultimately I’m not sure if I know. However I am confident that even if Boiling Springs home values drop the benefit of paying off your home and not paying rent will still build you wealth in the long term. The key is taking on a mortgage payment you know you can commit to even in slow economic times like these. Here is Robert’s question below that is worth giving thought too?
Stupid Question: Isn’t Real Estate a Bad Investment?
If you live on the planet earth, you are involved in real estate. Everywhere you look, real estate deals abound. Read more..
Quick Tax Break Review for Real Estate
by Rob on September 1, 2009
in Boiling Springs Home Buyers, Boiling Springs Home Sellers
Here is a good, quick tax break review for buyers, sellers, and owners of real estate.
While most people will already be aware of most of these there might be a few nuggets in here for you to be aware of. Here is a good review a read this morning.
RISMEDIA, August 29, 2009-First-time homebuyers aren’t the only ones to benefit from tax breaks. H&R Block urges homebuyers who are relocating for work or buying for other reasons to take advantage of incentives that can lower their tax bill. Plus, sellers should know how to report profits and losses to avoid a hefty tax bill.
“Now is a great time to buy or own a home,” said Amy McAnarney, executive director of The Tax Institute at H&R Block. “There are great tax incentives for buying and owning a home, whether you’re a first-time homebuyer or a repeat buyer. People selling their homes also need to know if they’ll need to report the profit to the IRS.”
Buying a home
Homebuyers can make the most of several tax breaks that help lower their tax bill based on the purchase of an existing or new home. For instance:
-First-time homebuyers:The Recovery Act provides a credit of up to $8,000 if a taxpayer buys a home between Jan. 1, 2009 and Nov. 30, 2009. The homebuyer also must not have owned a home in the previous three years and the home must be the primary residence.
-Points:The points paid on a mortgage are generally deductible as interest if taxpayers paid enough of a down payment or earnest money at closing to cover the points. Homebuyers can deduct the points even if the seller paid them.
-PMI premiums: Buyers who make a down payment of less than 20% of the home’s cost usually pay private mortgage insurance (PMI). But the PMI premiums generally can be included in your home mortgage interest deduction.
-Job relocation: Taxpayers who moved due to a job change can deduct the cost of moving. In order to take the deduction, they must move within one year of starting the new job, work full-time at least 39 weeks during the first 12 months at the new location, and the new job must be at least 50 miles further than the old residence was from the old job. Qualified moving expenses include your out-of-pocket cost of moving yourself, your family, and belongings to the new location.
Owning a home
If a taxpayer typically has claimed the standard deduction, owning a home will likely mean itemizing for extra deductions. Some tax breaks for homeowners include:
-Mortgage interest: For most taxpayers, the biggest tax break comes from deducting mortgage interest. Taxpayers can deduct interest on up to $1 million of the loan used to buy, build, or make substantial improvements to a main or second home. Interest on a home equity loan up to $100,000 secured by the main or second home is deductible too.
-Real estate taxes: Taxpayers can deduct real property taxes they pay on real estate to their municipalities, whether made directly or through their lending company.
-Home improvements and energy credits: The Recovery Act gives incentives to homeowners making improvements and energy-efficient upgrades to their homes. Taxpayers can get credits for 30% of the cost of qualifying doors, windows, HVAC, water heaters, roofing and insulation, up to a maximum credit of $1,500. Solar energy and wind energy systems are each 30% of cost with no maximum.
Selling a home
Sellers won’t have to pay taxes on a profit up to $250,000 for single filers and $500,000 for joint filers. Taxpayers must have lived in the home for at least two of the past five years to claim this exclusion. In some cases, taxpayers can claim a partial exclusion if they are selling due to a change in employment status, health reasons, divorce or other unforeseen circumstances.
Taxpayers whose homes were foreclosed may be able to exclude the mortgage debt that was forgiven in connection with the foreclosure. This provision applies to debt forgiven in calendar years 2007 through 2012, of up to $2 million is eligible for this exclusion ($1 million if married filing separately).
“Homeowners should maximize all the credits and deductions available. Knowing the tax incentives and how to take them is key for homeowners,” McAnarney said.
Good News for Home Owners
by Rob on August 31, 2009
in Boiling Springs Home Buyers, Boiling Springs Home Sellers, Boiling Springs Market Conditions
When the real estate market slowed to a crawl nationally so many builders never saw it coming that it makes the thinking person scratch their heads and say “huh”. I mean, who is looking at all the economic data anyway? If big companies aren’t looking at it who is? Well, at the end of the day it’s like a good friend of mine, Don Hassey, always used to say, “A big shot is just a little shot that kept on shooting!” Another words, even large companies are run by people just like you and me. Are they brighter? Probably not. More politically astute? Probably. Bigger risk takers and comfort zones? Bingo.
No doubt about it home builders got caught with their pants down on the economic front and banks took back NEW homes at a rate not ever seen before. Where’s the good news in all of this? New home inventories are at 271,000 nationally down 52% from mid 2006! In fact, inventory has decreased from 8.5 months in June to 7.5 months today! What most of us innately already know is that the less new construction there is to compete with the better off the existing home seller is. Combine this with the fact that our local Boiling Springs market has seen a decrease in new home construction and existing home inventory prospects look even better. See, there is good news out there after all. Below is an article with more detail: Read more..
Search Boiling Springs Homes and Land
by Rob on August 19, 2009
in Search Boiling Springs Homes For Sale
Simple, uncomplicated, professional real estate solutions. Grab the laptop, a cup of coffee, search and enjoy. Properties are updated daily. Book mark this site to easily check back often.
Boiling Springs Foreclosures*
*Note: It is my desire to provide for you the very best, most up-to-date Boiling Springs, SC foreclosure listings. However, the SMLS (the multiple listing service for this area) current setup makes this task difficult. Therefore, the method I have chosen to display the listings automatically may result in some non-bank owned or HUD owned homes being included as well. For an accurate listing of bank owned (REO) and HUD owned listings, please either contact me at 864-621-7900 or send a note with the contact form at the bottom of the page. Remember to include your criteria.
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Use the form to contact me for more information on any properties. Or just call 864-621-7900
