School Teacher Discounts

Introducing a new Professional Educators discount for Full Service Real Estate services.  If you are a school teacher in Greenville, Spartanburg, or Cherokee county you will be reimbursed $250 at closing for buying or selling property with us. Just reference the Educator’s discount coupon here at the time of agreement.

The thinking person scratches their head at some of the priorities in our society.  Politicians seem to all be millionaires instead of the peer group in and out public servant the position was designed to be for.  Education administers make much more than school teachers.  All the while the really valuable, human impacting careers, like classroom school teacher, is low on the income totem pole.

As an independent business person and a father of a child in the Boiling Springs district 2 school system I love to work with people who have integrity and a good work ethic.  Most school room teachers clearly fit that description and I am proud to offer this incentive to them.  Please reference the  School Teacher Discount when calling me at 864-621-7900.

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.

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.

Boiling Springs SC and Spartanburg SC Luxury Homes Priced $400,000 and Up

As the price of a Spartanburg South Carolina home goes up the number of days it takes that home to sell goes up as well.  There is a direct correlation between Spartanburg home prices and days on market in a tight economy or at least an economy with so much uncertainty.   The Boiling Springs area offers a lot of home for the money in a great community, in a great location in “Upstate”, SC.  The luxury home market is no exception as we have a number of very good local builders that build homes that would sell for much more if located in some other markets.

Still, the time it takes a home to sell, or the days on market for Spartanburg SC homes increases considerably as the price goes up. Look at the “Sold Listings” column below to see the annual sales rate of Spartanburg homes in this price range.  As the price goes up the sales rate comes down even while the supply of homes remain consistent across the $400,000 to $600,000 prices range.  Not shocking new information but certainly interesting to see.  This of course translates into a higher months of inventory ranging from 2.5 years to 5 years and beyond.  Search for Boiling Springs SC homes and real estate priced at $400,000 and above.

If you are a seller of a $400,000 or greater Spartanburg home or Boiling Springs home it will be important to reach a buyer market outside of the local Boiling Springs real estate market.  You can review the highlights of a successful residential real estate marketing sales plan by clicking the link.  Of course some secret details are left off as proprietary sales strategies and tactics!!!

Source: Spartanburg, SC MLS
Price Range	Current Active Listings	Sold Listings	Date Range	Solds per Month	# Months of Inventory
$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

Boiling Springs and Spartanburg Houses in the $300,000 to $400,000 Price Range

A look a Spartanburg and Boiling Springs homes in the $300,000 to $400,000 price range tells us that home buyers are starting to prioritize an “affordable” monthly payment and buy less expensive homes.  Of course “affordable” is a relative term and means something different to everybody.  The data tells us that 7 homes per month in this price range are sold in Spartanburg county.  Currently there are 263 Spartanburg SC homes for sale in the $300K to $400K price range. It is fair to note that some sales are not entered into the MLS because they are sold directly from the builder to the home owner so the actual SOLD number is a bit larger.  However the 263 Spartanburg homes for sale are actual “active” listings  in the MLS as of September and therefore accurate data.

As we see again, builders over built in this price range and the over supply could certainly represent a great buying opportunity for today’s home buyer in Spartanburg county.  A 37.6 month supply of homes represents a lot of money tied up into an investment that is not currently performing and also comes with a cost to hold in the form of taxes, insurance, and general upkeep.  Search for Boiling Springs houses in the $300,000 to $400,000 price range here and 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

$300 – $350	133	49	12	4.1	32.57
$350 – $400	130	35	12	2.9	44.57

With over a 37 month supply of homes on the market in the price range, Boiling Springs SC home sellers cannot just put a sign in the front yard and expect their house to sell. To understand this lets go back to my consumer product days with Britol-Myers Squibb and Michelin Tires.  The purchase decision is an emotional one based upon the perceived benefits that the product they will give the buyer.  Let’s not underestimate that your home for sale is a “product” we call a house or home.  There is a relationship between the the Price and the Product .

Price/Product Benefits = ?  In the short equation as price goes up the overall answer or “attractiveness” of the product goes down and vice versa.  As perceived value goes up, acheived by staging the home, landscapping, etc., the formula yields us a larger number representing a “better” deal to the buyer.  This formula is sometimes called the Price-Value ratio or realtionship and I’m sure it goes by many other names too.

I offer my Spartanburg and Boiling Springs real estate clients a FREE home staging consultation from an experienced home seller.  When we sell a personally owned home they generally sell very quickly because the home has a warm, welcoming feel that we specifically created.  With a over a 37 month supply of homes in Spartanburg SC creating this feeliing in your home will play an important role in selling your home too.

Stupid Boiling Springs Real Estate Questions

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

Good News for Home Owners

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..

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