Why Is it Such a Good Time to Move Up in Greenville?

Looking to buy? Click here to perform a full home search
 Thinking of selling? Click here for a FREE Home Price Evaluation 
Call us at (864) 527-7685 for a FREE home buying or selling consultation

We compile a monthly Greenville real estate market report every month, and we track a lot of different numbers to get a good idea of the state of the market. Some of the important factors we track include the average days on market, the average sale price, the list-to-sale ratio and the absorption rate. Today we are going to talk about some of the recent numbers that have jumped out to us, but first, we want to give you an update on mortgage rates.

Last year, we saw mortgage rates near or at historic lows. They have dropped even lower since, and are down about 0.5% from where they were last year. Now, back to the numbers that jumped out to us.

The first number I want to mention is 1.4. That is the current months of inventory available for homes on the market between $100,000 and $200,000. That’s less than a 6-week supply! There’s a huge opportunity out there for sellers in the area to get top dollar for their home if it falls into this price range.

However, the higher you move up the pricing ladder, the more inventory we do have. In the $300,000 to $400,000 price point, we have more of a balanced market (5.3 months of inventory). In the luxury home market, we are actually in a buyer’s market.

If you’re thinking about upgrading to a new home in the near future, both our gut and the numbers say this is the time to do it. You’re going to sell very quickly if you’re priced right and staged correctly. Then you can go out and purchase a nicer home in a market where homes are staying on the market a bit longer, and have lower-than-usual sale prices. This is the perfect storm for move-up buyers, and we aren’t sure how long it will last.

If you’re looking to make a move up in the near future, or if you just have any questions for us, feel free to give us a call or send us an email. We look forward to hearing from you!

Pitfalls to Avoid When Buying New Construction in Greenville

Looking to buy? Click here to perform a full home search
 Thinking of selling? Click here for a FREE Home Price Evaluation 
Call us at (864) 527-7685 for a FREE home buying or selling consultation

Today we are going to talk a little about newly built homes, and what you need to know if you’re thinking about buying one of these homes. New construction is very popular, and for good reason. You can get the exact home you want, while not having to deal with typical problems that concern home buyers. However, there are some things you need to know before signing that contract. 

When you walk into a new home, understand that the person in the model home works for that builder, and their job is to get the most money possible out of you for the home. That’s why you need to have an agent on your side as well. You want to make sure you’re protected, especially in case something happens.

We have several buyer’s agents that specialize in new construction and know all the ins and outs of the process. Even though the county does inspections, we will make sure the home is built to the specifications that it needs to be. 

If you have any questions for us, or know someone who is buying a new home and needs an advocate on their side, give us a call or send us an email. We would  be glad to help out!