Greenville SC Real Estate
The time has never been better to invest in a home in Greenville, South Carolina. The current real estate market has been remarkably steady in the first few months of 2007 and shows no signs of waning. In fact, the local market has not experienced the fabled "real estate bubble" that seems to be a hot topic in most of the home markets around the country. The question remains, "what is it that has set Greenville apart from other real estate markets?"
Well, one of the major factors is the remarkable appreciation rate of the area's historic homes. These beautiful pieces of property are appreciating at a rate of 3-4% per year. This is a sustainable level of increase when looked at in comparison to markets around the country that are experiencing periods of wild fluctuation. Other factors involved in the stability of the Greenville market are things like the excellent employment opportunities, the fine education system and accolades like being the 2003 winner of the "Great American Main Street Award."
Greenville has an extremely active real estate market. Current inventory is right in line with past years with over 5,000 current active listings. With an average price of approximately $260,592, Greenville is an attractive and affordable area in which to live. To give the common buyer or seller an idea of the action that this market has seen, there have been over 2,000 homes sold already this year with an average price of $176, 755. On the mean, homes spent an average of 88 days on the market and sold for an impressive 97% of their original list price.
Growth is another reason for the excellent shape of the Greenville market. A current inventory of almost 1500 new construction homes has brought new life to an already vibrant area. These new homes are listed for an average price of $312,643 and most are located in the outlying areas of Simpsonville and Greer.
Eddy Kicker is a REALTOR servicing the Greenville, SC real estate market. Eddy is a dedicated professional that offers the best in customer service and attention in relocation to Greenville. Contact Eddy today for more information on South Carolina real estate.
Buying: Things To Keep An Eye Out For
OK, buying a home! Excellent! Let's have a look at things that any home buyer should keep an eye out for when shopping. Some of these things are things they any buyer should look for in terms of finding the right home, some of the other things will be things to be cautious of. Let's get started.
Motivated Sellers - OK, these people are like the holy grail of real estate. Finding someone who needs to sell fast can save you a huge chunk of cash and expedite the whole process. People who are in a pinch to sell will usually take a cut on the asking price in order to assure a quick transaction. If you can find these sellers then consider yourself lucky, they are not that easy to find.
Good Neighborhoods - Take the time to explore the possible neighborhoods in your chosen area. Talk to some of the residents to find out what their views of their community are. Ask about past problems and whether or not they have been resolved in a timely manner. The opinion of the local people is a great measuring stick for the functionality of the community.
Proximity to EVERYTHING! - How close is the proposed purchase to everything that is important to you? Naturally you will want to be close enough to work or school that the commute is quick and inexpensive. Also take into account shopping and recreational facilities. Make sure that you are within striking distance of all the necessities of life, it will save time and money.
Homes that have been for sale for ever! - Be careful with homes that have been listed for an overly long period of time. There could be reasons that they have not sold yet such as structural issues, liens or overpricing.
"Too Good To Be True" deals - If it sounds too good to be true, it probably is. Be careful of people trying to unload problem homes or properties without disclosing all relevant information. Not only is it against the law but it can just be a huge headache.
Eddy Kicker is a REALTOR servicing the Greenville, SC real estate market. Eddy is a dedicated professional that offers the best in customer service and attention in relocation to Greenville. Contact Eddy today for more information on South Carolina real estate.
Ten Reasons to Invest in Real Estate
Investing in real estate can be a good business venture if you have the skills and dedication needed for this kind of endeavor. Just like any other business opportunities, investing in real estate requires capital, an entrepreneurial spirit, patience, dedication, and a nose for good deals.
Many of those who succeed in real estate have foresight or the ability to predict the trends in real estate or even the developments that will happen in an area. Some properties do not seem like good money makers but with certain changes in the environment, migration patterns, city developments, etc. they may turn out to be really great investments. Of course, there are risks that need to be taken, and you have to analyze whether you can take the possible failures - emotionally and financially - that may be brought about by these risks. For those who are interested in engaging in such business, here are the top ten reasons people invest in real estate.
1. Real Estate Values Appreciate - this is especially true for areas where there is high demand for properties. Condominiums in cosmopolitan and highly populated cities, for example, can cost an arm and a leg but there it is very unlikely for these properties to depreciate in value especially if they are well maintained. Because of the ever growing world population and the increasing population density in cities, there will always be a demand for real estate. It’s your choice whether you want to be the one renting in the future or if it’s you renting out valuable space.
2. Real Estate Investment offers good profit - Investing in real estate is a proven method of increasing net worth and with a few sound decisions can earn you great profits.
3. Investing in Real Estate Involves Relatively Low Risk - this is true if you have done your homework and invest in good properties. Of course you will need a considerable amount of money to get into this kind of business but at least you know your money is now a tangible asset. You can even buy property under a financing arrangement so you don’t have to shell out all your savings. Some financing companies will allow you to use the property as leverage for your loan. But for this to work you must have good credit history
4. Real Estate can Provide Steady Income - If you have made a good investment, you can recoup your investment from the income that the property will generate in a fairly good length of time. You need to earmark part of the income for renovations and repairs but generally, you should be able to earn good money from your investment.
5. Cash Flow Can be Easily Worked Out - You can arrange your loans and financing so that the monthly income generated from your properties can be greater than your debt payments
6. Real Estate Depreciation Offers Tax Advantages - While your property's value depreciates in your book prompting lower tax payments, it does not mean the property's market value has depreciated.
7. Controlled Profits - There are many ways you can control the profit you make from a real estate property. One such instance is when you improve a house to raise its value. You may purchase properties in bad need of repairs and improve the house so you can resell it or rent it out for good gains.
8. Government Tax Brakes - In the United States, real estate investors take advantage of the 1031 exchange. The 1031 exchange allows for investors not to pay taxes on profits made from real estate sales for as long as the money was re-invested to real estate.
9. Other Tax Advantages - Many tax advantages that can be used when investing in real estate. One of these tax advantages is the reduction on income made from interest payments on amortization. When restoring a historical building, part of the expense is covered by the Rehab Investment Tax Credits.
10. Real Estate Property is a Tangible Asset - When you invest in real estate you have a tangible asset unlike when you invest in stocks where if you don’t play your cads right you can lose all your money. In real estate investing even if you don’t make good profits, you won’t lose your entire investment
Justin has been investing in real estate for almost two years now, and is a proponent of generating passive income through investment property