Friday, May 25, 2018

Don’t Do It!

don't do it
The national real estate market is very hot right now especially in popular areas such as Sacramento, CA, Denver, CO, Ogden UT, Knoxville, TN, Portland OR, Orlando, FL, and Miami, FL. Home sellers might get the notion that they can sell their home on their own or (FSBO). I am here to say DON’T DO IT!

Collateral Analytics released a study that stated in most cases FSBO sellers may be costing themselves more money by not using a Realtor®. Even Dave Ramsey, whom everyone gets money advice from, states that there is research which shows that FSBO sellers make more mistakes, have a lack of negotiating skills, price errors and lack of general exposure to the full market and end up paying more than they would have if they had hired a Realtor®.

Here are some suggested reasons from the Collateral Analytics study that may indicate reasons for the difference.
  • Bias on the side of the buyers. When not represented by a Realtor® FSBOs may attract what we will call “bargain hunters.” They believe that since the seller is saving the commission, they will let their home go for a smaller price. 
  • FSBO sellers are less likely to “stage” the home for sale. This means using their expertise to set the home up for success in showings or bringing in an expert. 
  • FSBO sellers usually fail to market their home to the full potential buyer pool. Using a Realtor® gets you access to the MLS which in turn, gets your home seen on all the MLS partner sites, broker sites, agent sites and home sites. This syndication gets the home seen by thousands of potential buyers. Using a commissioned Realtor® also gets you incentives for Buyer’s agents to get people in to see your home. Realtors usually have a good marketing plan already set up which provide additional social media marketing too. Statistics show that today’s buyers start their search online. 
Conclusions drawn from the Collateral Analytics study state that FSBOs get significantly lower prices than similar sale properties represented by MLS Realtors. The average sold price is about 6 percent lower for FSBO sales when compared to similar MLS Realtor represented homes.

If you are thinking about FSBO, let me talk to you about advantages for using my services over doing it all on your own. Nobody likes to be all alone.

And remember if you, a friend or family member need assistance with selling or buying a home I can help. Referrals and people needing relocation assistance are welcome! Search Single Family homes in Greenville. Search Condos and Townhomes in Greenville.

Friday, May 18, 2018

Top Events This Weekend!

Here are a couple of our top picks for events happening this weekend in Greenville SC.
    top events this weekend
  1. BMW Charity Pro-Am presented by SYNNEX Corporation. May 17th through May 20th. Gates open at 7 am. The only tournament where amateurs and celebrities are grouped together.
  2. Beachin’ Fridays. They’re bringing the beach music scene to Mauldin with Beachin’ Fridays! People come from all over the Upstate to converge on the Mauldin Cultural Center’s outdoor amphitheater for evenings of shag dancing, food trucks, and craft beverages. The final night always features a special performance and fireworks. All shows are FREE of charge, so grab your dancing shoes and bring your energy!
  3. Main Street Fridays. A great way to end the work week with the Greenville Heritage FCU Main Street Fridays presented by Pepsi. The best in musical entertainment every Friday from now to September 28th. 
Something fun is always happening in town. There are more than 300 event day every year that span from live theater t outdoor concerts to festivals that catch national attention.

And remember if you, a friend or family member need assistance with selling or buying a home I can help. Referrals and people needing relocation assistance are welcome! Search Single Family homes in Greenville. Search Condos and Townhomes in Greenville.

Friday, May 11, 2018

Artisphere This Weekend!


The Artisphere festival in Downtown Greenville is an annual three-day event (May 11 – 13) that gives arts patrons the rare opportunity to meet exhibiting artists while purchasing original works of art. A supportive, art-loving community, beautiful setting, and over 600 volunteers make the Artisphere festival an enjoyable experience for exhibiting artists and the public alike. A great FREE event for the whole family!

Year over year Artisphere brings in tens of thousands of visitors and residents. Areas of attraction will be in the Art of Healthy Living Exhibit, Art in Action Stage, Art Lab, Artist Demo Row, Artists of the Upstate Juried Exhibition, Culinary Arts Café, Culinary Arts Café Stage, Greenville County High School Juried Exhibit, Kidsphere North & South, Main Stage, Opening Night Gala, STEAM and Wine & Craft Beer Experience.

Below is a map of the event. Click on it for a printable PDF version.

artisphere festival


And remember if you, a friend or family member need assistance with selling or buying a home I can help. Referrals and people needing relocation assistance are welcome! Search Single Family homes in Greenville. Search Condos and Townhomes in Greenville.

Monday, May 7, 2018

Home Prices Rise

home prices rise
CoreLogic recently released its U.S. Home Price Insights (HPI) report to the public. This report is designed to provide the industry with a quick look at home price trends. It incorporates more than 40 years of repeat sales transactions to analyze pricing trends.

In March 2018, nationwide home prices which included distressed sales rose 7 percent over 2017 and increased 1.4 percent between February and March 2018. The HPI also reports that home prices will increase between March 2018 and March 2019 by 5.2 percent. The expected increase between March and April 2018 is expected to be 0.1 percent.

CoreLogic’s Chief Economist Frank Nothaft says,
“Home prices grew briskly in the first quarter of 2018. High demand and limited supply have pushed home prices above where they were in early 2006. New construction still lags historically normal levels, keeping upward pressure on prices.”

CoreLogic’s market condition indicator is showing that one half of the top 50 U.S. markets are overvalued. President and CEO, Frank Martell says,
“The dream of homeownership continues to fade away for the average perspective buyer. Lower-priced homes are appreciating much faster than higher-priced properties, making the affordability crisis progressively worse. CoreLogic’s Market Condition Indicators now indicate that half of the top 50 markets in the country are overvalued because home prices in those areas have risen so much faster than incomes. This is clearly an unsustainable condition that can only be remedied by aggressive and coordinated public/private section actions.”
The HPI reports provides a map of the U.S. with percent changes and shows that South Carolina has had a 3-6 percent change year-over-year to March 2018. My guess is that the higher percentages would be for places like Charleston. The future forecast still shows South Carolina between 3-6 percent through March 2019. This shows a steady growth pattern but luckily not a high growth like the western and north eastern states. Texas and North Dakota are the only two states showing a change of 0-3 percent.

The closest top U.S. Metro Area to Greenville SC is Washington D.C. which is at 2.5 percent year-over-year change. The HPI report shows the Market Conditions Indicators Metro Area Maps for the Greenville-Anderson-Mauldin metro area we see that the current market is in the normal range but predicted to be overvalued by March 2023. Our neighboring Spartanburg market is showing normal with predictions for it to stay normal through March 2023. The Columbia SC market is currently showing undervalued and predicted to stay that way to March 2023. Conversely, Charleston-North Charleston is overvalued and predicted to stay that way to March 2023.

It will be interesting to see how close the predictions in this report parallel the actual sales numbers and prices returned each year by the local MLS. If builders continue to be hesitant about getting back into the market and building replacement housing the numbers will stay high.

However, developers in Greenville have many plans for adding homes to the area in the next 5 years. If building can come back full scale, home prices may level out or dip back to affordable.

And remember if you, a friend or family member need assistance with selling or buying a home I can help. Referrals and people needing relocation assistance are welcome! Search Single Family homes in Greenville. Search Condos and Townhomes in Greenville.