Lake Greenwood and Greenwood Real Estate Updates

I've come to realize one of the most important things a Realtor should do whether they are in real estate in Greenwood SC or anywhere else is to keep up with the big picture of the real estate world as a whole.  

Real estate is local, meaning every market is a little different and values of one market have little to do with values in another market. However, all areas combined can sometimes give us a reasonably accurate picture.

We all know we can definitely depend on the media to give us the down side of the housing market. As one of the top Realtors in Greenwood,  I have to admit that I, like many others, get tired of the news regardless of the necessity of it.  Every time I turn my TV on it is the same old song and dance … “a bad economy; are we in a recession or not; foreclosures on the rise; are we really in a recovery?”  Yes, it’s more gloom and doom! It’s no wonder when I see something citing more statistics I have the urge to turn away.  But, this time I didn’t! The following information is a set of positive facts that we need to consider.  

A new CoreLogic study has determined that there are substantial reserves of positive home equity nationwide, citing recent Federal Reserve data showing that Americans held about $6.2 trillion in equity in their homes at the end of the 2011 second quarter. Federal and industry estimates also reveal that nearly one of every three homes is debt-free. According to CoreLogic, nearly half of homeowners with home loans have at least 25 percent equity, and almost a quarter have more than 50 percent equity.

Home ownership is still a great thing and there are many Americans enjoying the benefits of it. Don’t get caught up being  “Chicken Little”. The sky is not falling~ regardless of what the media says. Bad news sells….while good news gets overlooked!  Prices of homes in Greenwood SC are at the bottom, and just today I've heard interest rates as low as 3.25% makes it the PERFECT time to join the ranks of the millions who are enjoying home ownership. With the price of lakefront lots on Lake Greenwood being at 5 year lows makes building your dream home or lakefront retirement home a REAL possibility. With a knowledgable REALTOR guiding you it could be the best it has ever been or ever will be in the near future for buying lakefront property or property for sale in Greenwood SC, whether lakefront or not. Afterall, it's a buyers market everywhere.

Keep focused on the good news and let the media focus on the bad! They get paid well for it!

If you are planning on buying lakefront property for sale in the near future start by visiting Lake Greenwood's Harborside lakefront community. Known for some of the best views along the shores of Lake Greenwood, Harborside is soon to be known for being the home of some of the best lakefront lot deals on Lake Greenwood.

Harborside, developed on a peninsula provides a unique lake living experience with many lots having panoramic views and deep “year round” water levels. Harborside is also a top choice because of its convenient location to downtown Greenwood, where you will find a variety of shopping, dining and award winning healthcare.   

Harborside features a wide variety of homes ranging in size from 1800 sq. ft. to over 3000. Wirth minimal HOA dues (only $300 annually), an 1800 sq. ft minimum, no time frame to start building, freedom to use your choice of builder, availability of public utilities and MOST importantly AFFORDABILITY  there has never been a better time to buy a lakefront lot on Lake Greenwood, one of the best lakes in the south!

Never heard of Lake Greenwood? You aren’t alone. Looking for a top retirement place to get away from a hectic pace of life? Again, you are not alone. In the past 6 years over 80% of our clients have been retirees or people in the early stages of planning for retirement. By working with full time REALTORS who know the lake and are experienced in lakefront property sales you will save time and see the best deals available. Contact us if you would like info on available lakefront cabin rentals on Lake Greenwood or maybe even info on a tranquil B & B in a more historic setting to make your visit to the Lake Greenwood area even more memorable. You may find that like many others you come for a visit and decide to stay a lifetime! Visit our website to see a short video intro about Lake Greenwood and the surrounding area.

If you are looking for lakefront property anywhere near the Carolinas consider Lake Greenwood real estate. Contact The Bradshaw Group of Lake Greenwood and let us guide you to the best properties available that Lake Greenwood has to offer. You’ll be glad you did!

Follow Your Gut Instinct...it will lead you where you want to be.

The thought has crossed your mind-but you aren’t quite ready yet; your gut is telling you NOW IS THE TIME to do it; but still you aren’t quite ready. You’re thinking “if I wait another year it’ll be even better." Well, maybe not! Remember what you've been told and probably passed along to others...."always follow your gut".

If you have thought about taking advantage of today's low prices you are not alone! With lower lakefront home prices and record-low interest rates, some baby boomers are buying their dream retirement homes on Lake Greenwood — several years before leaving the workforce. More and more are realizing that buying a prime lakefront lot suited to the type and style house they want to build is now a more economical option. Add in that there is no time frame to start building makes it a “no brainer” for some. Some lakefront communities on Lake Greenwood have HOA dues as low as $100 a year and for some of the most sought after communities the HOA dues is a mere $300 a year. Consider the fact that some lots are $100,000 less than they were 3-5 years ago….financially today's buyers still come out ahead. For those who are opposed to building here is some food for thought for you.  

Real estate is local and each area has different statistics but this is a trend that is being seen nationwide. William Filbin, a ReMax Broker in Florida said “'We’re now seeing people purchasing homes five or six years, sometimes more ahead of their planned retirement. It’s an opportunity that’s hard to resist.” According to the S&P/Case-Shiller home price index, “Home prices nationwide are down 32% from their mid-2006 peak.” Take it a step further and factor in rates at historic lows with the 30-year fixed-rate around 4.2%. The question with most people considering this is, “What would I do with the property when I have so much time before retirement? To help cover the expenses of an extra loan and other bills — like utilities and property taxes — some pre-retirees are renting their homes out on long-term leases. More and more people are discovering Lake Greenwood and some want to rent for a year or so while they explore the many areas and communities. Requiring references and doing a little investigating can make all the difference. There are also reputable companies who can handle the rental for you for a small fee.

Having a full time, REALTOR® who is experienced in the area which you are considering is an important 1^st step. Even if you are a year away from making the decision they can give you the best guidance and should be able to put you in touch with other credible professionals to answer questions that you need answers to. If you’ve never heard of Lake Greenwood, SC and retiring on a lake in the south is part of your retirement plan, you owe it to yourself to find out more. Lake Greenwood is one of the most beautiful and affordable lakes in South Carolina with a little something for everyone. The Bradshaw Group of Lake Greenwood would love to help you get acquainted with the area.

WELCOME TO OUR OFFICE!

The verdict is in! Are you still sitting on the fence not sure if now is the time to buy Greenwood, SC real estate? It’s time to jump! Now is not the time to wait. Some of the best values are still here for the taking and prices are unbelievable! It’s happening right now….read on!

The National Association of Realtors® tell us that “home sales rose strongly in May with all regions experiencing gains from a year ago, pointing to higher housing activity in the second half of the year”. The Pending Home Sales Index rose 8.2 percent to 88.8 in May from an upwardly revised 82.1 in April and is 13.4 percent higher than the 78.3 reading in May 2010. Keep in mind that this particular data reflects contracts and not closings, since closings typically occur 30-60 days after an offer is accepted. According to this we should see future reports with higher than usual numbers indicating a subsequently higher number of CLOSED transactions. This is the first time since April 2010 that contract activity was above year-ago levels, and the monthly gain was the strongest increase since last November when the index rose 10.6 percent. Lawrence Yun, NAR chief economist, said the improvement bodes well for home prices. We all know that absorption of inventory is imperative to market recovery and prices getting back to a normal level. “This solid gain in contract signings implies that home values in localities are or will soon be stabilizing as inventories get absorbed at a faster pace,” Yun said. “Some markets have made a rapid turnaround, going from soft activity to contract signings rising by more than 30 percent from a year ago” Yun added. Source: National Association of Realtors®.

Real Estate is local and every market is a little different. Real Estate in Greenwood, SC has been active lately. Having said that, there are still great deals waiting. For example, it’s a great time to consider buying a condo in Greenwood, SC as an income producing property with Lander University being here and college about to begin, or even a vacation home on Lake Greenwood. If you’ve been thinking about retirement options, consider building your dream home on Lake Greenwood. You definitely owe it to yourself to visit while lakefront lots are at the lowest they’ve been in many years! If you missed your opportunity the first time now’s your chance! The possibilities are endless and real estate is STILL a secure addition to any investment portfolio. Especially with a knowledgeable real estate group on your side.

Good news for the Greenwood SC real estate market and others! It may not be immediate but it is on the horizon and should be kept in mind. John Burns Real Estate Consulting believes housing demand in top markets is about to 'explode’. This demand is being driven by the number of renters coming into the market which will drive rental prices even higher which in turn will make common sense prevail and show home ownership as the clear “smart choice” that we all know it is and have always been told.

Leslie Deutch, VP of John Burns Real Estate Consulting says 'Renters are a clever, creative bunch.' Other reasons Deutch said the apartment sector will eventually contract is because of the long-term affordability of owning a home versus renting, and because it’s just 'not smart to rent forever.' 'As rents start to grow, more renters will consider buying,' Deutch said. Source: HousingWire

If home ownership is on your mind and you're still on the fence wondering when the right time will be….it’s NOW! Interest rates are still LOW and the selection is HIGH!  Whether you are searching for lakefront property as a weekend getaway or just down sizing to a smaller home orcondo now is a great time to make your move. If you are a seller-the good news is that buyers are looking; if you happen to be a buyer the good news is sellers are motivated! With an experienced, knowledgeable REALTOR at your side it can be a win-win situation for both sides. With a rise in interest rates just around the corner there is no reason not to get the information you need to make an informed decision now. Go shopping now and see everything the Greenwood, SC area has to offer! Lakefront getaways, golf course property, condos and luxury homes both on and off the water are currently available.

Greenwood SC Real Estate Update for Buyers

Currently cash buyers are flooding some real estate markets in record numbers to take advantage of current prices. These cash buyers can sometimes put buyers who need financing at a disadvantage. Sellers often prefer cash deals because it can mean faster closings and transactions that are less likely to fall through. Some sellers in the Greenwood real estate market are accepting lower offers because they are cash rather than higher offers from a financing buyer just because they view it as a more solid deal that will be quicker to the closing table. What’s a conventional buyer to do? Here are a few tips-

• Get pre-approved for a home loan. The smartest thing you can do is make sure you talk to a competent (preferably local) lender to get pre-approved. Local lenders know the market and they have face to face interaction with Greenwood Realtors who they depend on for future business. They have more “at stake” than lenders who work with thousands of buyers nationwide. Contact me for a list of knowledgeable, reputable, local lenders in the Greenwood real estate market. Getting pre-approved takes about 10 minutes and can be done on the phone many times.

• Show your sincerity and that you’re in good standing. You’ll improve your chances of getting a seller to pay attention to your offer and take it seriously by putting down a reasonable amount of earnest deposit. The more deposit you’re willing to put down, shows you have a stable job, cash on hand and along with the pre-approval-good credit.

• Act quickly!  Cash buyers have the ability and tend to act quickly. To compete, you have to act quickly once you’ve decided which property suits your needs.

Keep in mind that some sellers may be highly motivated and willing to accept a cash offer, even if it’s lower than others, while sellers with more equity in their homes may be willing to wait for the highest and best offer. It all depends on the sellers current circumstances and their motivation to sell.

Real estate is local! For details on Greenwood SC homes for sale, browse my website, use my convenient MLS Search tools, or contact me for first rate service!

Nothing Was More Frustrating...

than searching for property for sale and not finding what I wanted. UNLESS, it was finding EXACTLY what I wanted only to find out the next day (when the Realtor finally returned my call) that my PERFECT property (ok, maybe it wasn't really the perfect one but at THAT time it was to me) was already under contract. At this point it didn't matter whether it went under contract an hour ago or a month ago. The point was still the same....it was not available. Ever happened to you? 

That was my experience in the past and long before I ever thought of becoming a Realtor in Greenwood or anywhere for that matter. trust me---I remember the disappointment all to well and it became a catalyst for the foundation of my services I provide. My goal and level of service is to NEVER be the cause of that happening to someone else. I strive to provide up to date information, quality photos and an easy MLS search for people looking for Greenwood Real Estate. That's just the beginning!

There are several different ways to run a search for Greenwood Real Estate on my site. There is a search for lakefront property as well as "in town" properties and properties in golf communities and the surrounding areas. Whatever you are looking for there is probably an easy custom search waiting.

Feel free to visit my website. I'm sure you will find it among the easiest and most detailed...not to mention the most up to date! Why waste your time, energy and gas driving past homes to see the neighborhood and "size up the exterior" on properties that aren't even available?

SEARCH THE GREENWOOD MLS

One of the best kept secrets in the Southeast is Lake Greenwood, located in Greenwood, SC. One of the Top Lakefront Communities is Harborside.

When I think of a lakefront community I think of it being slightly tucked away from whatever hustle and bustle surrounds you. I envision flat neighborhood streets lined with trees and beautiful homes of various sizes and styles. There are also neighbors enjoying a  walk or jog along the streets that are not heavily traveled and mostly just by the neighboring residents. Some of the residents are walking their pets and some with their friends; maybe even 1 or 2 pushing a stroller. Well, that’s just what you will see when you drive through Harborside.

With the changes in real estate over the past 3 years: NOW an incredible time to buy a lakefront homesite. Prices are lower than they have been in the past 5 years and sellers are motivated! Keep the word motivated in mind! All prices are negotiable and there are some amazing deals to be had. For example 3-4 years ago prime lakefront lots were selling for $200,000 and up. It was close to impossible to buy a level, dockable lot with big water views and year round water for much less $180,000. Some of these same lots are now priced from the $160,000’s with room for negotiation.Harborside has all public utilities, a boat launch, dry boat storage and a lakeside gathering area with firepit; not to mention some of the THE best big water views that Lake Greenwood has to offer.  

If planning for retirement has been in the back of your mind and retiring on a lake is a part of that thought….NOW is the time to make your move! So many of my clients have bought their lot, done improvements along the way and when retirement comes the only missing ingredient will be their dream home.

Harborside on Lake Greenwood is a community for those looking for the perfect waterfront retirement location and a place you will be proud to call home.

When you are looking for Lake Greenwood Property then you owe it to yourself to learn about Harborside. You deserve to be choosy and get everything you want in your future homesite or home as well as a community.

New home sales have suffered as the industry has faced 5 years of declining business after reaching record highs the 5 years prior. I’m now noticing several builders websites and hearing builders explain why buying new is better than buying foreclosures in Greenwood, SC and in other parts of the country as well. Granted, the Greenwood SC real estate market has not experienced as many foreclosures as many other areas; however, from time to time there have been a few foreclosures in Greenwood, SC as well as “short sales”. The majority of our “bargain buys” have been in the form of lakefront lot foreclosures and short sales on Lake Greenwood.

On the surface short sales and foreclosures appear to be better buys than buying new construction. Builders are warning people that foreclosures and short sales are not ALL the “deals” and steals that everyone thinks they are and can come with pitfalls if buyers aren’t careful. The majority of headaches typically come from unknown repairs, a very limited selection and headaches in working with banks. Builders are trying to get the word out to educate buyers. Many have dedicated pages their websites featuring the benefits of buying new that people may not necessarily think of. Some of the benefits mentioned are warranties, energy efficiency and customization options. Shea Homes and Fulton Homes are featuring a “foreclosure cost calculator” on their websites. By having this it will educate people and help them to see (or atleast be aware of) potential costs of foreclosures.

A monetary value can’t be placed on some headaches and heart breaks. I’ve seen people make a bid on what is the home of their dreams and are thrilled at the possibility of being able to afford it (because after all it is a fantastic deal…right?) only to have their dream shattered when they find out after weeks of waiting, hoping and planning that they have been outbid. Even in short sales though the process is different many times people have to wait weeks, even months for their offers to be reviewed only to be told that it wasn’t accepted.

Yes, short sales and foreclosures CAN be great opportunities. As long as buyers go in with their eyes wide open and with realistic expectations and knowing where the pitfalls are. Being an educated buyer is the key and is where I can help. If you are considering buying Greenwood SC real estate contact me. Put my knowledge and experience to work for you or at the VERY least contact me to get the facts you need to decide whether spending the time and energy searching for the right foreclosure is right for you. You might be surprised at your decision!   

Selling your Greenwood home is a major decision that can carry a high stress factor. Many times sellers become emotionally overwhelmed from the pressure and make costly mistakes. Here are just a couple pitfalls to avoid when selling.

Do not fail to disclose defects in the property. Disclosure laws require you to reveal information about the home systems, including environmental issues, structural problems, homeowner’s association rules and restrictions on use of the property. Many buyers will require an inspection of your property prior to finalizing the sale, and problems you may have UNintentionally overlooked may come to light and may cost you the sale as well as additional expense. With so many people just looking for a reason to “sue” someone-there’s no need to paint a bullseye on your back.  Just remember FULL DISCLOSURE and nothing less. Its the law!

Do not make last-minute home improvements that may not add value to your home. Remodeling takes time, will prolong the work of getting your home ready to show, and won’t necessarily please buyers. What you like, your potential buyers may not.  There is no guarantee your modification will help in the sale.

Do not price your home too high. Your asking price should be within an acceptable range of comparable homes in the same area, neighborhood, style and size that have recently sold.  Many times adjustments have to be made to get the correct price. The bottom line is that even if you get someone to offer you TOP dollar your home must still appraise or you have wasted valuable time.

Do not assume your property is as good (if not better) than your competition. If you aren't sure what's on the inside of your competition and all the details to go along with it...assume NOTHING! Assuming may very well lead you in the wrong direction.

The market has made some incredible changes in the past 3 years; and it still continues to do so. Yes, it is a buyers market but having the right information and the right strategy can make all the difference. Contact me and I'll be happy to provide you with whatever information you need to determine if selling your Greenwood SC property or Lake Greenwood property now is right for you. There'll be no hassles and no obligation.

 If you decide to seek advice for pricing or selling tips make sure you consult a REALTOR® and not just a real estate "agent". Trust me there is a difference.  When it comes to selling your home don't trust it with just anyone. Make sure you choose wisely.