Lake Greenwood and Greenwood Real Estate Updates

In Trulia's latest Rent vs. Buy Report, it was explained that homeownership remains cheaper than renting with a traditional 30-year fixed mortgage in many areas across the nation. The updated numbers show that home owning is on average 36% less expensive than renting across the United States. A recent study by GoBankingRates compared the cost of renting Vs. Owning at a state level and showed that in 36 states, including South Carolina, it is "a little" or "a lot" cheaper to own your dream home as you can see in the map below.

One reason that home owning is significantly less expensive than renting is because interest rates remain at historic lows. In reality, rates would have to raise to 10.6% for renting to become less expensive than buying, and rates haven't been that high since 1989.  If you are one of the many renters who are considering your ability to buy your dream home in Greenwood, please visit our website or contact us to discuss your next steps at (864) 341-7774 or lakegreenwoodproperty.com .

According to the latest Census Bureau Report, Sales of new homes jumped to highest rate in 8 years in June!  As you can see in the graph below, sales have been consistently climbing for the last 6 months.

If you are a homeowner who is considering listing your Greenwood home for sale, now may be the perfect time for you! We can help you take advantage of the buyers in our area that are ready to purchase their dream home.  Please visit our website or contact us at (864) 341-7774 or lakegreenwoodproperty@gmail.com to discuss any questions you may have about the current Greenwood Real Estate Market.

Those who have money set aside for the next decade would rather invest in Real Estate than in anything else according to Bankrate's latest Financial Security Index Poll.  In this poll, Americans were asked, "Which would be the best way to invest money you did not need for more than ten years?"  The results were as follows:

As you can see, Real Estate came in as the top choice with 1/4th of all respondents! Buying your dream home in Greenwood truly is one of the best investments you can make for yourself because you can physically see and feel your home, and know exactly where your money is going.  If you are ready to make the investment of homeownership and would like more information on the current Greenwood Real Estate Market, please don't hesitate to contact us at (864)341-7774 or lakegreenwoodproperty.com@gmail.com to discuss your next steps.

Are you being held back from buying your dream home in Greenwood because you fear you don't have the "perfect" credit score required to be a homeowner, or because you are worried about monstrous interest rates?  These monsters of home owning may not be as scary as you think.  The infographic below can slay some of your most feared myths about buying your home and help you feel more confident that you can take your next steps in the Greenwood housing market.   

As you can see, credit score requirements for mortgage approval continue to fall, and interest rates remain at historic lows.  Meanwhile, 88% of property managers raised their rent in the last year!  If you are considering buying your Greenwood home and would like to discuss your next steps now that these myths have been put to rest, contact us at (864) 341-7774 or lakegreenwoodproperty@gmail.com .

Every three years, a Survey of Consumer Finances is conducted by the Federal Reserve that collects data across all economic and social groups.  In the most recent survey, including information from 2010-2013, a homeowner's net worth was found to be 36x greater than that of a renter's.  However, the National Association of Realtors' Chief Economist Lawrence Yun predicts that this gap will become even wider, and a homeowner's net worth will be 45x greater than a renter's in 2016.  This is one way that buying your dream home in Greenwood could prove to be hugely beneficial to you.

This huge gap in net worth is due to the fact that every time a homeowner pays their mortgage, they are contributing to their net worth. Conversely, every time a renter pays their rent, they are contributing to the net worth of their landlord.  If you are interested in finding out if you can put your housing cost to work in your favor by purchasing a Greenwood home, please do not hesitate to contact us to discuss your next steps at (864) 341-7774 or lakegreenwoodproperty@gmail.com .

As the market fluctuates, waiting a year to buy your home in Greenwood may make a big difference in the cost.  The cost of waiting to become a homeowner is defined by the additional funds it would require to buy your home if prices and interest rates increase in the future.  Freddie Mac predicts that interest rates will rise to 4.6% by next year, and Core Logic expects home prices to increase by 5.3% over the next year.  Therefore, if you are willing and able to buy a home for sale in Greenwood, you may be better off to act sooner than later.

If you are interested in becoming a Greenwood homeowner and would like more information on the Greenwood Real Estate Market, please don't hesitate to contact us.

Are you considering buying a Greenwood home for sale, but are worried about breaking the bank?  You're not alone.  95% of first-time homebuyers are willing to sacrifice some luxuries in order to make their dreams of owning a home come true.  54% of homebuyers rank buying new clothes as the number one activity they are willing to sacrifice to save money.  Even those who have participated in the Greenwood housing market before say they sacrificed buying a new car or taking a vacation to buy their last home.  We trust that you will find your dream home to be entirely worth the sacrifices you make to buy it.

If you are interested in buying your dream home and would like more information on the Greenwood Real Estate Market, please feel free to contact us today.

Do you have a Greenwood home for sale and are unsure about pricing? Here's some good news to consider. 

CoreLogic’s latest Equity Report revealed that 92% of all mortgaged properties are now in a positive equity situation, while 74% now actually have significant equity (defined as more than 20%)! The report also revealed that 268,000 households regained equity in the first quarter of 2016 and are no longer under water. If you are considering placing your home for sale in Greenwood, and want to see how much positive equity YOU have-give us a call. We'll give you the selling facts and help you on your next purchase...with total transparency! All fees explained and no surprises waiting when we get to the closing table.

Anand Nallathambi, President & CEO of CoreLogic, had this to say:

“More than 1 million homeowners have escaped the negative equity trap over the past year. We expect this positive trend to continue over the balance of 2016 and into next year as home prices continue to rise."  

Bottom Line--If you are one of the many Americans who are unsure of how much equity you have in your home, don’t let that be the reason you fail to move on to your dream home this year!

BEFORE the REAL competition starts.

If  you are about to have a Home For Sale in Grand Harbor or a home for sale in Stoney Point here is some info you need to hear. This information is worth considering if you have a home for sale in Greenwood anywhere!

Pulsenomics recently surveyed over 100 economists, real estate professionals, investors and market strategists (in other words people who watch and stay involved in the business of real estate and have nothing to lose or gain from answering honestly) "In your opinion what is the primary driving factor behind the recent increase in home value growth in the U.S."?

Here are the TOP four reasons:

As we've said many times over the past few months inventory IS at records lows and it is a fantastic time to sell your Greenwood home because demand is high and inventory is low! We have buyers who are waiting for the right one. Don't let that fact give you a false sense of security--you still need important info or your home could still get left behind.

However, Things May Be About To Change

Three reasons for the pending change:

1. As owners begin to realize the amount of equity has increased in their home over the past few years the more likely they are to "test the waters" in the next few months.
2. As the real estate sector continues to outperform a still slightly sluggish economy more builder will be adding new construction to the low inventory of housing supply.
3. AMAZINGLY some banks are just now starting to foreclose on delinquent loans from the past "housing bust". These homes will be coming to the market place!

Daren Blomquist of RealtyTrac says "Lenders have been taking advantage of the strong market to dispose on lingering inventory."

Here's The Bottom Line

In most housing markets, don't wait for this round of competition to join the race. If you're considering selling your home in Greenwood or your home for sale on lake greenwood give The Bradshaw Group a call TODAY and let's put together a strategy to get your home SOLD fast and for top dollar! We don't make any promises we can't keep and there's no "fine print" and "eligibility requirements" to worry about with us.

The National Association of Realtors most recent report indicates that home sales are up dramatically in almost every price range over the past year.  Greenwood homes for sale and homes for sale on Lake Greenwood may be a little different but are included in the overall numbers. NAR measures 6 price categories and 5 of the 6 categories showed increases.

Homes Under $100,000 was the only category that showed a decline (-4.6%). This category would include the majority of condos for sale in Greenwood.  This decline takes into consideration the lower inventory levels of distressed or foreclosed properties available. So even though there is a decline--it's still good news for the real estate market as a whole. 

Other categories showed an INCREASE of 4.6% with the BIG WINNER being homes $250,000-$500,000 price range increasing a whopping 15.2%. That would include many of the homes for sale in Hunters Creek as well as interior homes for sale in Stoney Point.

WHAT DOES THIS MEAN FOR YOU AS A BUYER?

It's simple....now is the time to buy. With increasing prices and interest rates expecting to increase don't wait. The higher your interest rate the less home you can afford. 

WHAT DOES THIS MEAN FOR YOU AS A SELLER?

Homes are definitely selling. If your house has been on the market for any length of time and has not yet sold, let's meet to do a NO-PRESSURE review of your old listing. Inaccurate pricing, bad pics, bad directions or a lack of exposure could be the culprit. Most of the time it's NOT your home! 

So keep calm and give The Bradshaw Group a call to benefit from all we offer....and get your home SOLD. We won't buy it....but we'll get it sold for the BEST price the current market will support! Afterall....isn't THAT what  you really want?