Lake Greenwood and Greenwood Real Estate Updates

If you are considering selling Greenwood real estate you may be wondering if and how the new tax law may (or may not) affect you. I have summarized  below a little about the law and who the new law will most likely affect.

Beginning January 2013 the new 3.8% tax on some types of investment income will take place. The new tax will affect some (but NOT ALL) real estate transactions. Like most laws it's a bit complicated so it's hard to predict how it will affect every seller or buyer. The new tax was actually passed in 2010 with the intent to generate an estimated $210 BILLION to help fund President Obama's healthcare and Medicare "overhaul". Here are the main things to know to get an idea of whether or not you may be affected.

First of all you should know the tax will NOT be imposed on every real estate transaction;

 it MAY impose a 3.8% tax on some income generated from interest, dividends, earned rental income (less expenses) and capital gains income (less capital losses);

 the tax will fall ONLY on individuals with an adjusted gross income of more than $200,000 and couples filing jointly with an adjusted gross income of more than $250,000.

Again, the above is a simplified generality of who can expect to be affected. I suggest if you have your property for sale in Greenwood SC or anywhere else and think you may be affected according to the above guidelines consult an accountant or other qualified person to find out how or what it means for you. Or contact your Lake Greenwood Property specialists at the The Bradshaw Group and request an informational brochure developed by the National Association of Realtors with specific guidleines, scenarios and details in understanding the law. We are here to help you when it comes to getting the information you need to make informed decisions.

If you would like a snapshot of what the Lake Greenwood Real Estate market looks like just let us know and we will be more than happy to provide the information along with honest answers you need before making any decisions. Your home is one of your largest assets. Don't make any decisions without getting a true representation of the local real estate market as it is TODAY from a full time REALTOR who truly has YOUR best interest in mind.

New listings in the Greenwood real estate market remained flat at 109. Pending Sales were up 74.1 percent to 101. Inventory levels shrank 12.2 percent to 717 units. Prices moved higher. The Median Sales Price increased 7.6 percent to $123,000. Days on Market was up 23.3 percent to 204 days. The supply-demand balance stabilized as Months Supply of Inventory was down 21.5 percent to 14.1 months.

Lake Greenwood real estate once again saw multiple offers on the best values still remaining. Even though the selection of lakefront property is shrinking (typical for this time of year), sellers are still motivated, rates are at all time lows and there are still great properties available.

On a larger scale, a total of 80 metropolitan statistical areas across 32 states and the District of Columbia were listed as improving housing markets on the National Association of Home Builders/First American Improving Markets Index (IMI) for August. This included 75 markets that retained their places on the list along with five new ones. ‘The list of improving housing markets in August includes metros across every region of the country, all of which have distinctly different characteristics in terms of their economic and employment bases as well as other factors,’ said Barry Rutenberg, chairman of the NAHB and a home builder from Gainesville, Fla. ‘The fact that we continue to see a strong core of metros showing up on the improving list each month adds to the growing evidence that the emerging housing recovery has a solid foundation on which to build as housing returns to its traditional role of driving economic growth,’ said NAHB Chief Economist David Crowe. Source: National Mortgage Professional

It’s true that real estate is local and all markets are slightly different but across the board real estate statistics are improving which shows real estate is on the right track once again. If you would like more details on Greenwood Real Estate or Lake Greenwood area real estate contact The Bradshaw Group. We’ll be more than happy to provide you with the facts you need before buying or

The Greenwood real estate market is seeing multiple offers and major improvements in market conditions in comparison to this time last year.  Every time I look around there are yet more signs that we are bouncing back in and around Greenwood. Whether it is the opening of new businesses, the construction of condos in Greenwood or new homes on Lake Greenwood we are seeing more than in the past years and it's a welcome sight.

While the Greenwood SC area in general wasn’t hit as hard as many local, larger areas we still had (and have) a few short sales and foreclosures lurking around. When it comes to Lake Greenwood real estate they are a rare find.  I get calls almost daily from people wanting my "list of lakefront foreclosures" and I'm always happy to announce there is no list!  OH, I can just hear the disappointment in their voice! Then things usually take a different course after they hear how the area is much more affordable than most lakes in SC even without foreclosure properties on Lake Greenwood. After visiting the area Greenwood, SC ranks “high” on their list of top retirement destinations.

On a larger level Bloomberg News reports that in some areas home buyers are having to pay more than asking price to get the home they desire. Bidding wars were a common part of real estate in 2006. But when the market turned from a “seller’s market” to “buyer’s market,” more sellers started seeing lowball bids than high bids. Now times are slowly changing, and bidding wars are being reported in several markets, such as in Seattle, Boston, Silicon Valley, Miami, and Washington, D.C.

“The housing crash is finally giving way to recovery in an increasing number of markets across the country,” Mark Zandi, chief economist for Moody’s Analytics. “The decline in unsold listings and vacant homes and the increase in rents presage better times ahead for single-family housing.” Source: Bloomberg News

Now is truly THE BEST time to buy. I've been saying it all along...and while each time I say it is a good time it just continues to get better. Click here to visit us on the web and see everything the Greenwood area has to offer.  Mild climate, affordability, golf courses, central location and friendly people are just the beginning. There's something for everyone and we look forward to helping you find yours.

LAKE GREENWOOD - PRICE REDUCED $20,000 FOR QUICK SALE!

ONLY $49,000 buys this great lot on Lake Greenwood (perfect for a walkout basement home). This waterfront lot is dockable, has 100' of water frontage and is in Watersedge, a restricted Lake Greenwood lakefront community on the lower end of the lake near the dam. Build your dream home and enjoy the peace, privacy  and tranquility of being on a wind protected cove. Living in Watersedge, you will love being surrounded by naturesque scenery & abundant wildlife. Watersedge residents also enjoy very low HOA fees and a variety of shopping, dining and entertainment choices being less than 30 minute drive from Greenwood, as well as the history rich town of Newberry, featuring the Newberry Opera House. You're going to love it here!

It's been awhile.....but not because there has not been good news to share! I am happy to report the Greenwood, SC Real Estate market has taken off for the first time in years. Specializing in lakefront property on Lake Greenwood I am seeing activity reminiscent of 4 years ago and prices still holding (so far) at 5 year lows. Interest rates are still low but buyers shouldn't expect the perfect world to last forever.  Buyers who are buying from other states are reporting their markets are beginning to show an increase in activity as well. That is news I haven't heard in at least 3 years. There will be changes in the future so don't miss the boat!

Hopefully this doesn't still find anyone sitting on the fence but in case you are maybe the following will help motivate you to jump....or at the very least climb down and see what you might be missing out on.

Real estate economists and analysts are increasingly optimistic that the housing market will have a dramatic recovery in the next two years, according to results of a new semi-annual survey of 38 real estate economists and analysts conducted by the Urban Land Institute’s Center for Capital Markets and Real Estate. The economists predict that the national average for home prices will stop falling by this year and a subsequent turnaround will occur. By next year, they project that home prices will begin to rise by 2 percent, and then get a larger boost of 3.5 percent by 2014. The economists also predict that housing starts will nearly double by next year. They also foresee rental prices continuing to increase for all property types, ranging from 0.8 percent to 5 percent. The economists’ predictions were made on assumptions that the economy would continue to strengthen, including a larger drop in unemployment. “While geopolitical and global economic events could change the forecast going forward, what we see in this survey is confidence that the U.S. real estate economy has weathered the brunt of the recent financial storm and is poised for significant improvement over the next three years,” says Patrick L. Phillips, ULI chief executive officer. “These results hold much promise for the real estate industry.” Source: RISMedia

There's the green light folks! If you are looking for the ideal lakefront retirement community or a top retirement location in the carolinas the time is NOW and the place is Greenwood, SC! Looking for a vacation rental on Lake Greenwood? Give us a call and we can point you in the right direction.

Come visit one of the South's Best Secrets and let us show you around. We think you'll be impressed.

Every year we give thanks and it is very important to remember what we have to give thanks for. As far as Greenwood Real Estate is concerned it is no secret that we have been subject to a severe recession and a depressing and way too slow recovery. However, we are recovering and despite what the prognosticators say, America will be stronger than ever in the future. Every day we hear about the bad news coming from Europe and worry about how a meltdown there could pull us back into recession. To us, it only serves to remind us now much better off we are here as compared to the rest of the world. You don't see Americans leaving in droves. All the while the depressing news from Europe is just drowning out the news of our own recovery. That news is even more important than Europe. In the past two weeks just about every economic report released has been positive. This week it was retail sales, industrial production and housing permits. Continuing unemployment claims are now at the lowest level since 2008. Let's face it you would not know the news was good if you looked at the action in the stock market. Maybe it is time to consider investing in Lake Greenwood property while prices are low and inventory is high.

Recent reports from the broader economy have dispelled the story of a double-dip recession. An early reading of gross domestic product (GDP) showed 2.5 percent growth. Meanwhile, national job growth, a major driver of housing demand and price support, has recently strengthened. An increasingly impatient White House has rolled out phase two of the Home Affordable Refinance Program (HARP) for Fannie- and Freddie-backed mortgages. This should help a number of consumers as they write the next chapter.

On a more local note, the Greenwood Association of Realtors recently shared the following statistics: New Listings in the Greenwood region increased 9.1 percent to 84; pending sales were up 97.4 percent and inventory levels shrank 6.8 percent. Prices showed signs of life as well with the Median Sales Price increasing 26.0 percent even though the average days on market also had an increase of 15.7 percent. Add all this together and it seems that a change is coming for real estate for sale in Greenwood...and it's a good change!

Real estate is local! Every market is different but all in all the outlook is bright for Greenwood real estate. If owning lakefront property on Lake Greenwood is on your wish list act now to take full advantage of current market conditions before they begin to swing in another direction and make sure to give thanks for what we do have!

Lake Greenwood has become one of the most popular SC lakes for a variety of reasons. The best way to explain why is to explain what it is NOT! 

It is NOT the largest lake in the area but definitely one that should be considered if a low key lifestyle is what you are looking for;

it is NOT highly commercialized which adds to the popularity, charm and tranquility of it;

it is NOT a Corp of Engineers lake (it is controlled by Lake Greenwood Management).which means property owners actually own their property and all of the rights to it all the way up to the shoreline. In most areas you are allowed to build as close as 75' from the shoreline (some areas will allow you to build as close as 25');

it is NOT as severely affected in times of drought as neighboring lakes.

These particular "what it is NOT's" are what have made it what it IS.....one of the best lakes in SC! It is a great time to consider Lake Greenwood property since interest rates are still at historical lows and prices are currently at 5 year lows. If your dream for the future consists of building your dream home so you can build what YOU want the time is even better. There are incredible bargains to be found when it comes to lakefront lots for sale on Lake Greenwood. Concerned that your dream of building could be a nightmare? Don't be! I'll get you in contact with a local builder who has built a solid reputation around quality construction, trustworthiness and integrity.

Visit my website to gain access to one of the most up to date and easiest Greenwood MLS search tools available. Look around to learn more about the area. Make sure to check out the Lake Greenwood Map Tool to get an idea of the layout of the lake itself and the many communities along it's 212 miles of shoreline. The short video on the homepage may also give you an idea of what you'll find should you decide to visit the area. If foreclosures on Lake Greenwood is of interest you can find them on my website as well. There haven't been many but the few that are available are worth a look!

When you are planning your visit email me and I'll be happy to provide you lodging info. Whether it's a lakefront vacation rental on Lake Greenwood, an area Bed and Breakfast or local hotel close to shopping, just let me know your preference and I'll get you the info you need. Just think of me as your one stop resource for "everything Lake Greenwood"!

When you start to consider the Lake Greenwood area as a relocation destination you deserve to be shown around by a Lake Greenwood Realtor who has spent years following the real estate market during good times and bad. Only then will you be provided factual information that can help you make the best decisions.

I'm NOT here to sell you lakefront property on Lake Greenwood. I'm here to help find the best of Lake Greenwood property that fits your needs and help make YOUR dream come true.

Keeping up with the Lake Greenwood real estate market means not only knowing the Greenwood area but it also means knowing the surrounding areas as well. Lake Greenwood spans 3 different counties. In my opinion one of the best reasons to live at the lower end of the lake other than the magnificent views, naturesque surroundings and deep water is being within a SHORT drive to 3 surrounding historic towns, each with its own personality.

Yesterday I visted Newberry to research a property. Some people may have visited the Newberry Opera House but that's just one of this towns attractions. While I was there I decided to have lunch at a little place that could be easily overlooked. The Grille On Main, which was once a pharmacy in the "old days" located on Main Street (bet you already figured that out) was such a great last minute stop. I had to park a ways away from the Grille and as I was walking up the street checking out the little specialty shops I got the feeling of a quaint, friendly "Mayberry-ish" town. In today's world that is a good feeling even if it's only for a few minutes.

When I walked in the Grille On Main I was was greeted by friendly servers who actually took the time to make me feel welcome. My server was terrific and ready to take my order almost before I got seated. I decided on the Baked Potato Soup and Pimento Cheese sandwich. Both were absolutely DELICIOUS and homemade goodness filled every bite!

The next time you find yourself looking at real estate in Greenwood, SC, especially on the lake near the dam, remember you're only a short drive from Newberry. I hope you make the time to visit Newberry and wander the downtown area for a few minutes. You'll find numerous antique shops in a quaint little town rich in history. If you do happen to find yourself in Newberry make sure to visit The Grille On Main and since it's the perfect time of year for soup....try the Baked Potato soup. You'll love it! 

I meet people on a daily basis selling Lake Greenwood Real Estate and when I’m asked for my opinion of the current market I always say “we are at the bottom and it’s not going to get much better for buyers”. Many times I realize I’m standing in front of Thomas. I’m sure you’ve met him before. “Doubting Thomas” as he says “noooo, we still haven’t hit the bottom yet”. At this point, I begin to wonder “is it my optimism that just won’t let me see it?”

Needless to say it brings me joy when I see something that supports my scrutinized optimism and can hardly wait to share it with whoever happens to see it. SO, here is more Greenwood Real Estate news and statistics worth sharing! We all know that interest rates and home prices are at the lowest they’ve been in quite a while. Well, a recent article in Bloomberg Businessweek refers to it as “perhaps the best deals of a generation,”. OK…I want to repeat that because it felt so good to say….THE BEST DEALS OF A GENERATION! A GENERATION! Many buyers are aware of this and have taken advantage of the current buyers market. For those who are STILL on the fence and have been for the past year or more, I have to ask, how much better does it need to get.

Since the housing boom of 2006, home prices have fallen about 31 percent. Also, rates have been hovering at record lows for the past few weeks. “It’s hard to see the possibility of losing on a home purchase right now, with these rates,” says economist Dean Baker. “Prices may go lower, but not by much.” The article notes the following scenario: Buying a $300,000 home with a 4 percent rate and a 20 percent down payment would mean a $1,145 monthly payment. The Mortgage Bankers Association recently predicted that home prices may fall another 3.5 percent by mid-2012 but rates will increase by atleast a half-point. So for that same loan under that scenario, a home would sell for $289,000 while the monthly payment would be $1,171– a $26 per month increase. For those who can qualify for a home loan , 'playing the waiting game' won’t result in much gain, Nariman Behravesh, chief economist at IHS in Englewood, Colo., told Bloomberg Businessweek. It seems to me the wait may not be worth it, especially if it means losing the home of your dreams while waiting for a significant savings. 

So, hats off to optimism and even better when there are cold, hard facts supporting it! If you are looking for property for sale on Lake Greenwood or Greenwood real estate in general, even if it is not lakefront it is a GREAT time to buy. I’ll be more than happy to show you whatever you want to see and provide the information you need to make an informed decision. If building is a possibility now is the time to take the first step with Lake Greenwood lots being incredibly low with room for further negotiating. Having the right realtor on your side to answer your questions and point you in the right direction can make building your dream home an enjoyable experience.

Make sure to check out my newest mapping feature to learn more about Lake Greenwood and its many nooks, crannies, twists and turns and the communities tucked away in each! Then contact me for the answers to your questions and let's start making YOUR dreams come true!

Being in real estate in Greenwood SC I have people checking out the area almost on a daily basis. It never fails that one of the top 5 questions is usually “where’s a good place to eat”. Through the years I’ve referred many people to this “cute little place by the lake” as I referred to it, based on what I had been told by other locals and past clients alike. So, last weekend I happened to be in the area and decided, “ok, it’s time to check it out for myself”. All I can say is I’m glad I referred all those other people there but man, have I been missing out! While talking to the owners I found out some of my Lake Greenwood Property buyers are now their “regulars”.

Harris Landing on Lake Greenwood is a restaurant NOT to be missed. Last weekend I had their burger since I had heard dozens of people raving about them and they were OHHH so right! Quite possibly THE best burger I’ve ever had! Trust me, I’ve had way more than I should’ve over the years. If burgers aren’t “your thing” then maybe you should try their wings. I’m not a wing connoisseur…but I’d put them up against the best! To go a step farther; even the onion rings were delicious. Looking for something a little different? They also offer grilled salmon, steak, shrimp, crab stuffed mushroom, and so much more. Sunday's are a special treat featuring fried chicken and other "southern favorites". No, haven’t had any of these menu items yet…. but you can bet I will.

As for the atmosphere…ok, you tell me what you think. “Cute, little restaurant right on the lake (you can even come by boat if you would like), warm, friendly, “make yourself right at home” staff, and a covered porch overlooking beautiful Lake Greenwood. It was perfect!

So if you’re a local and haven’t made it there yet because it’s “a little off the beaten path”….do yourself a favor and for goodness sake drive the extra 5 minutes. You’ll be glad you did. If you find yourself passing through Greenwood and looking for something other than the usual places make it a point to find Harris Landing Restaurant whether by water or land! It’s WELL worth the effort.

Oh by the way, they’re social!! Look for them on Facebook to see some of their nightly specials. Tell them Jan sent you and I’ll be seeing 'em soon.