Home Appreciation and Values

March 24th, 2017

Which homes had the highest amount of home appreciation? When you are looking to expand your wealth, home ownership is an important step.  How much you will earn in appreciation for your home can steer you to the right direction.  Sometimes people believe that the most expensive homes appreciate at a faster rate than more modest homes, but this is not true.  In addition, some homes are so custom and expensive that they actually have fewer people who would even want to buy them.

What is nice, is that home appreciation keeps climbing over the last twelve months. Here are two sources that agree:

The National Association of Realtors, estimates the annual increase in the median existing-home price at 7.1% in their Existing Home Sales Report.  Their report also shows a strong start in sales for the first of the year.  In addition, Lawrence Yun,  NAR Chief Economists also states, “Competition is likely to heat up even more heading into the spring for house hunters looking for homes in the lower- and mid-market price range,”

CoreLogic, in their recent Home Price Insights Report  illustrates that the national home prices have increased 6.9% year over year. In the CoreLogic report went a few steps further and broke down the appreciation into four different price categories.

  1. Lower Priced Homes: priced at 75% or less of the median
  2. Low-to-Middle Priced Homes: priced between 75-100% of the median
  3. Middle-to-Moderate Priced Homes: priced between 100-125% of the median
  4. High Price Homes: priced greater than 125% of the median

Below is an illustration provided by Keeping Current Matters which shows how each category in 2016.

Home Appreciation by Category

Home Appreciation by Category

If you are thinking of moving to York County South Carolina, let us help you.  We can help coordinate the move into your next home.  We have the deep community ties and knowledge that you are looking for.  We want to show you how wonderful York County is.

Click here to view featured property scroller.

 To schedule a showing, just “click” on picture and complete form.

We would like to invite you to visit ArbieTurnerHomes.com. We specialize in the Rock Hill, Fort Mill, Indian Land and Tega Cay areas of South Carolina. We have made available tours of subdivisions in each city for your review. We are deeply knowledgeable of these areas, which is why you want to choose us for your real estate needs.

We work hard for our customers.

Provided Courtesy of Arbie Turner Homes Keller Williams Fort Mill SC

Hire a positive and proactive team of Realtors to help find your next home!

For more information please visit:  http://ArbieTurnerHomes.com

Call or text 803-207-7051

Looking for a new home: http://arbieturner.newnha.com

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Home Equity is growing wealth

March 17th, 2017

Building home equity is a great way to build wealth.  Sometimes people may only think of investments like stocks, gold or even a 401 (k) account as ways to build wealth.  A very important key to financial success is the process of building your home equity.  While you are paying your mortgage each month, you are also being forced to save for the future.

Before you can start enjoying the financial benefits of building home equity, you must first be a homeowner.  A very important step is to get a pre-approval from a lender.  This will help you target homes in your price range.  It will also add weight to your purchase bid, since you have already secured financing.  This simple step can save you time and money while staving off disappointment.

There is very bright news for building equity, it looks like projections are good.  According to Pulseconomics’s recent Home Price Expectations Survey home prices are expected to appreciate by 3.22% per year on average, and 17.3% cumulatively.  Great news.

But what does this really mean.   Well let’s just imagine that a young couple purchases a home for 250,000 in January this year. By January of 2018 the home would be worth approximately 261,000, a gain of 11,000 in the first year of ownership.  Below you will find an illustration provided by Keeping Current Matters which uses this example projecting out five years out.

Projected Equity

Projected Home Equity

If you are thinking of moving to York County South Carolina, let us help you.  We can help coordinate the move into your next home.  We have the deep community ties and knowledge that you are looking for.  We want to show you how wonderful York County is.

Click here to view featured property scroller.

 To schedule a showing, just “click” on picture and complete form.

We would like to invite you to visit ArbieTurnerHomes.com. We specialize in the Rock Hill, Fort Mill, Indian Land and Tega Cay areas of South Carolina. We have made available tours of subdivisions in each city for your review. We are deeply knowledgeable of these areas, which is why you want to choose us for your real estate needs.

We work hard for our customers.

Provided Courtesy of Arbie Turner Homes Keller Williams Fort Mill SC

Hire a positive and proactive team of Realtors to help find your next home!

For more information please visit:  http://ArbieTurnerHomes.com

Call or text 803-207-7051

Looking for a new home: http://arbieturner.newnha.com

Like us on Facebook!  https://facebook.com/ArbieTurnerHomes

View our channel https://www.youtube.com/channel/UCrHhsqvC-3mZ_CC

York County SC, a great place to live

March 10th, 2017
York County, SC

York County, SC

York County, is a great place with plenty to offer.  In York County, you will find theme parks, shopping malls and dinning. York County also boosts great universities and colleges, in addition advanced medical hospitals and centers. You can also visit the Catawba River and Lake Wylie, and still have time left in your day.  One good resource for York County is http://www.visityorkcounty.com/where you can access menu options of; Things to do, Plan your trip and What’s happening.

Great news, in 2016 it looks like Americans are still to South Carolina.  It really is no surprise.  In fact, South Carolina has a history of winning the prize for high inbound traffic.

The attached illustration is provided by Keeping Current Matters.  This was compiled utilizing United Van Lines 40th Annual Movers Study. The company with the equipment for moving.

Where Americans are moving

Where Americans are moving in 2016

Some interesting information is that there has been a significant 5 year stretch where the north east has seen a heavy outbound flow for the last five years. There is suggestive statistics that weather, taxes and a retiring segment of population may be consistently contributing to the outbound flow.

If you are thinking of moving to York County South Carolina, let us help you.  We can help coordinate the move into your next home.  We have the deep community ties and knowledge that you are looking for.  We want to show you how wonderful York County is.

Click here to view featured property scroller.

 To schedule a showing, just “click” on picture and complete form.

We would like to invite you to visit ArbieTurnerHomes.com. We specialize in the Rock Hill, Fort Mill, Indian Land and Tega Cay areas of South Carolina. We have made available tours of subdivisions in each city for your review. We are deeply knowledgeable of these areas, which is why you want to choose us for your real estate needs.

We work hard for our customers.

Provided Courtesy of Arbie Turner Homes Keller Williams Fort Mill SC

Hire a positive and proactive team of Realtors to help find your next home!

For more information please visit:  http://ArbieTurnerHomes.com

Call or text 803-207-7051

Looking for a new home: http://arbieturner.newnha.com

Like us on Facebook!  https://facebook.com/ArbieTurnerHomes

View our channel https://www.youtube.com/channel/UCrHhsqvC-3mZ_CC

 

Who are first time homeowners?

March 3rd, 2017

Who are the first time homeowners in 2016?  You might actually be surprised. Sometimes we think of the newlyweds as the typical first timers; sometimes we think of the college graduate.  Actually, there are literally all types of people who are first time homeowners.

The National Association of Realtors recently issued their Profile of Home Buyers and Sellers.  And there really was no surprise that married couples comprised a total of 58% of 2016 home sales. One important factor is that there will be two incomes saving up for the down payment.

What I thought was personally interesting, is that 14% of the sales were unmarried couples.  This number has slowly been climbing. These are people who instead of saving for the wedding and honeymoon, they were saving up for the down payment.

But do not fret if you are single.  Single females comprised 18% and single males comprised 8% of the total home sales during 2016.

Below is an illustration provided by Keeping Current Matters.  Here is a visual breakdown of all of the first time homeowners in 2016, grouped by income an age.

First Time Homeowner

First Time Homeowner by age and income

Once you have decided that you are ready to be a homeowner, let us help you.  We are a full service realtor with detailed knowledge of York County South Carolina.  Now is a good time to act, and get a pre-approval for a home loan.  York County has a lot to offer, we would like to show you.

Click here to view featured property scroller.

 To schedule a showing, just “click” on picture and complete form.

We would like to invite you to visit ArbieTurnerHomes.com. We specialize in the Rock Hill, Fort Mill, Indian Land and Tega Cay areas of South Carolina. We have made available tours of subdivisions in each city for your review. We are deeply knowledgeable of these areas, which is why you want to choose us for your real estate needs.

We work hard for our customers.

Provided Courtesy of Arbie Turner Homes Keller Williams Fort Mill SC

Hire a positive and proactive team of Realtors to help find your next home!

For more information please visit:  http://ArbieTurnerHomes.com

Call or text 803-207-7051

Looking for a new home: http://arbieturner.newnha.com

Like us on Facebook!  https://facebook.com/ArbieTurnerHomes

View our channel https://www.youtube.com/channel/UCrHhsqvC-3mZ_CC

Great questions for buyers

February 24th, 2017

We have got some great questions for buyers.  If you are thinking of taking the plunge into homeownership, you are probably getting plenty of advice.  Advice both wanted and not wanted. Your family and friends are well meaning, but they may not be aware of the current conditions of the market in your desired area. Purchasing your home is a huge commitment and large financial investment.  Make sure that you have a professional on your side to help navigate the purchasing process.

Ask yourself the following three questions to help determine if now is a good time to buy for you.

#1 – Why do you want to buy a home now.

This is a very important question to ask. Do not think about the finances, and only isolate the root reason behind you wanting to buy a home now.  Most people do find that finances have little or nothing to do with it.  Here is a list of common reasons:

  • A good place to raise children in a good school district.
  • A place where everyone will feel safe.
  • More space for you and your growing family.
  • More control of the space you are in.

#2 – Where are home values headed?

The National Association of Realtors issued on their Existing Home Sales Report some good news.  It appears that the median prices for home sales in December show an increase of approximately 4% from last year.

If we look at the numbers year after year, CoreLogic forecasts a rise by 4.7%  That means that a house costing 250,000 today will cost you an additional 11,750 if you wait until next year.

#3 – Where are mortgage rates headed?

The Mortgage Bankers Association, The National Association of Realtors, and Fannie Mae all believe that mortgage rates will be going up over the next twelve months.  Below is an illustration provided by Keeping Current Matters for your easy review.

Mortgage Rate Projections

Mortgage Rate Projections

As you can see, it is foolish to wait if you are ready.  Rates are still at a historic lows and inventory is available.  York County South Carolina has a lot to offer.  Let us show you the beauty of where we live.

Click here to view featured property scroller.

To schedule a showing, just “click” on picture and complete form.

We would like to invite you to visit ArbieTurnerHomes.com. We specialize in the Rock Hill, Fort Mill, Indian Land and Tega Cay areas of South Carolina. We have made available tours of subdivisions in each city for your review. We are deeply knowledgeable of these areas, which is why you want to choose us for your real estate needs.

We work hard for our customers.

Provided Courtesy of Arbie Turner Homes Keller Williams Fort Mill SC

Hire a positive and proactive team of Realtors to help find your next home!

For more information please visit:  http://ArbieTurnerHomes.com

Call or text 803-207-7051

Looking for a new home: http://arbieturner.newnha.com

Like us on Facebook!  https://facebook.com/ArbieTurnerHomes

View our channel https://www.youtube.com/channel/UCrHhsqvC-3mZ_CC

Don’t let old myths stop you

February 17th, 2017

Don’t let old myths stop you from buying your next home.  It is still quite surprising how two old and out dated myths still haunt would be buyers. Do not keep paying rent to your landlord, pay your own mortgage instead. While renting does have some conveniences, it does not build wealth like home ownership does.  Buying your next home starts to build your investment portfolio.  It’s no joke or a myth, it’s a good time to act.

Fannie Mae’s recent article, “What Customer (Don’t) Know About Mortgage Qualification Criteria,” showed that “only 5 to 16 percent know the correct ranges for key mortgage qualification criteria.”  Clearly, old myths are still around.

Myth #1 – A 20% down payment is required.  Fannie Mae’s survey revealed that consumers overestimate the down payment funds needed to qualify for a home loan. According to the report, 76% of Americans either don’t know (40%) or are misinformed (36%) about the minimum down payment required.

Many believe that they need at least 20% down to buy their dream home, but many programs actually let buyers put down as little as 3%.

Myth #2 – I need a FICO score of 780 or higher. The survey revealed that 59% of Americans either don’t know (54%) or are misinformed (5%) about what FICO score is necessary to qualify.

Many Americans believe a ‘good’ credit score is 780 or higher.

To help debunk this myth, let’s take a look at Ellie Mae’s latest Origination Insight Report, which focuses on recently closed (approved) loans. As you can see below, 54.7% of approved mortgages had a credit score of 600-749. The illustration is provided by Keeping Current Matters.

Fico Score myth

Fico Score myth

So do not fall for either of these two myths.  Now is a great time to act and start looking for your new home.  There is inventory available in York County, Sc.  Come let us help you find your next home.  We have the deep community knowledge that make us a better choice.  We are a full service realtor, available for you.

Click here to view featured property scroller.

To schedule a showing, just “click” on picture and complete form.

We would like to invite you to visit ArbieTurnerHomes.com. We specialize in the Rock Hill, Fort Mill, Indian Land and Tega Cay areas of South Carolina. We have made available tours of subdivisions in each city for your review. We are deeply knowledgeable of these areas, which is why you want to choose us for your real estate needs.

We work hard for our customers.

Provided Courtesy of Arbie Turner Homes Keller Williams Fort Mill SC

Hire a positive and proactive team of Realtors to help find your next home!

For more information please visit:  http://ArbieTurnerHomes.com

Call or text 803-207-7051

Looking for a new home: http://arbieturner.newnha.com

Like us on Facebook!  https://facebook.com/ArbieTurnerHomes

View our channel https://www.youtube.com/channel/UCrHhsqvC-3mZ_CC

South Carolina showing strong buyer demand

February 10th, 2017

South Carolina is showing strong buyer demand.  Great news for us. As with any item,  the simple yet beautiful accounting application of supply and demand are at play.  We are all familiar with the fact that the more people who want an item the more it will cost.

The National Association of Realtors surveys over 50,000  real estate professionals for their input of their expectations of home sales, price and market conditions.  Afterwards they are able to compile their Realtor Confidence Index.   There are some very interesting national factors presented which are:

  • 32% of all buyers for December 2016 were first time home buyers.
  • Lack of supply and appraisal issues top concerns reported by realtors.
  • Lower foreclosure sales now accounting for only seven percent of sales.

 Buyer Demand is Strong in York County, South Carolina

The illustration below is provided by Keeping Current Matters, which utilized the NAR data from their Realtor Confidence Index.  This is a great graphic which breaks down buyer demand by state.

Buyer Demand by State

Buyer Demand by State

If you are thinking of moving or relocating to York County, South Carolina now is the time. There are great homes available and in great neighborhoods.  York County has great universities, medical centers, amusement parks and entertainment.

Click here to view featured property scroller.

To schedule a showing, just “click” on picture and complete form.

We would like to invite you to visit ArbieTurnerHomes.com. We specialize in the Rock Hill, Fort Mill, Indian Land and Tega Cay areas of South Carolina. We have made available tours of subdivisions in each city for your review. We are deeply knowledgeable of these areas, which is why you want to choose us for your real estate needs.

We work hard for our customers.

Provided Courtesy of Arbie Turner Homes Keller Williams Fort Mill SC

Hire a positive and proactive team of Realtors to help find your next home!

For more information please visit:  http://ArbieTurnerHomes.com

Call or text 803-207-7051

Looking for a new home: http://arbieturner.newnha.com

Like us on Facebook!  https://facebook.com/ArbieTurnerHomes

View our channel https://www.youtube.com/channel/UCrHhsqvC-3mZ_CC

Location still top for boomers

February 3rd, 2017

Location, location, location.  Location in real estate is still the top reason for baby boomers to buy a new home. This may surprise some people who may assume that baby boomers are only looking to down size.  But again, location is the top reason for buying a new home.

According to data from the U.S. Census Bureau, there are approximately 76.4 million baby boomers. But all of these people do not have the same housing needs, nor life style.

John McManus, Editorial Director of Hanley Wood’s Residential Group states that they are looking at the needs of the younger portion of the baby boomers.  These Second-Wave boomers still want a fun, dynamic lifestyle with a new home that can adjust to future needs, states McManus.  This leads to a higher demand for housing in preferred locations.  When there is higher demand it can affect sales price and housing inventories.

The Farnsworth Group, did a survey of new homeowners to determine what was their most important reasons for buying a new home. Location is still the strongest reason, price and layout are closely behind.  Below is an illustration provided by Keeping Current Matters.

Second Wave Boomers

Location is still the top reason

 

The survey also showed other concerns as well:  quality of construction (9%),  a safer neighborhood (8.4%), and better floor plans (8.25%).  In addition, the most important rooms or areas are the kitchen (82.8%), master bedroom (59.2%) and the great room (36%).

If you are thinking of selling your home and heading towards a better location, now is the time to act. Take advantage of high demand and get your current house listed quickly. York County South Carolina has plenty to offer, including Universities, Hospitals, Medical Centers, and Entertainment. York County is a great place to live, and we have the community roots to know.

Click here to view featured property scroller.

To schedule a showing, just “click” on picture and complete form.

We would like to invite you to visit ArbieTurnerHomes.com. We specialize in the Rock Hill, Fort Mill, Indian Land and Tega Cay areas of South Carolina. We have made available tours of subdivisions in each city for your review. We are deeply knowledgeable of these areas, which is why you want to choose us for your real estate needs.

We work hard for our customers.

Provided Courtesy of Arbie Turner Homes Keller Williams Fort Mill SC

Hire a positive and proactive team of Realtors to help find your next home!

For more information please visit:  http://ArbieTurnerHomes.com

Call or text 803-207-7051

Looking for a new home: http://arbieturner.newnha.com

Like us on Facebook!  https://facebook.com/ArbieTurnerHomes

View our channel https://www.youtube.com/channel/UCrHhsqvC-3mZ_CC

 

 

Preparation tips for sellers

January 27th, 2017

Preparation tips for sellers.  When you have decided that now is the time to act, be prepared.   One of the most important decisions is the hiring of your real estate agent. Here are some reasons why:

  • You want someone with experience in the selling process and with negotiation.  This is not the time for sellers to go it alone.
  • You want your home sold for the most money.  You could find yourself in a multiple offer situation.
  • You want your home sold fast. A realtor can advertise your home on multiple platforms not just on the MLS.

Make sure that you utilize the tips that your agent will share with you.  Your agent has seen what has yielded results lately.  There is no reason to research, worry or go in the wrong direction.

Below is an illustration that was provided by Keeping Current Matters.  It is a great little visual that breaks down some great tips for sellers.  Some of these tips may seem expected, while some tips seem new or unexpected.

Tips for Sellers

Tips for Sellers

Act now.  Demand is high because of  inventory low.  This is a great time to sell your house, and that is our tip!

Click here to view featured property scroller.

To schedule a showing, just “click” on picture and complete form.

We would like to invite you to visit ArbieTurnerHomes.com. We specialize in the Rock Hill, Fort Mill, Indian Land and Tega Cay areas of South Carolina. We have made available tours of subdivisions in each city for your review. We are deeply knowledgeable of these areas, which is why you want to choose us for your real estate needs.

We work hard for our customers.

Provided Courtesy of Arbie Turner Homes Keller Williams Fort Mill SC

Hire a positive and proactive team of Realtors to help find your next home!

For more information please visit:  http://ArbieTurnerHomes.com

Call or text 803-207-7051

Looking for a new home: http://arbieturner.newnha.com

Like us on Facebook!  https://facebook.com/ArbieTurnerHomes

View our channel https://www.youtube.com/channel/UCrHhsqvC-3mZ_CC

Sales increasing year after year

January 20th, 2017

Sales in real estate are increasing year after year.  This is great news and presents many opportunities for both sellers and buyers.  There are many reasons for these increases.  One reason is simply supply.  We are still sitting at around a four month housing inventory supply which can favor sellers verse a neutral market of around six months.  Another reason is the recent raise in the interest rates by the Federal Reserve.  This created a wave of people who are no longer waiting, but taking action. In other words, more demand.

The National Association of Realtors’ most recent Existing Homes Sales Report  illustrated that sales are up in five out of six price ranges that they monitor.

Homes priced between 100k and 250k have shown a 20.7 % increase year after year.   Surprisingly, homes priced between 750k to 1 mil saw the largest increase of 43.2%.  As prices in many markets continue to rise, it is not surprising to see the percentage of homes in the higher price ranges increasing. The illustration below is provided by Keeping Current Matters.

Change in sales

Change in sales by category

Do not sit on the side lines wondering if owning your home is a good move. Prices are increasing due to demand and supply.  Owing real estate is a good tool to build your wealth.  We can help you find the home you are looking for.

Click here to view featured property scroller.

To schedule a showing, just “click” on picture and complete form.

We would like to invite you to visit ArbieTurnerHomes.com. We specialize in the Rock Hill, Fort Mill, Indian Land and Tega Cay areas of South Carolina. We have made available tours of subdivisions in each city for your review. We are deeply knowledgeable of these areas, which is why you want to choose us for your real estate needs.

We work hard for our customers.

Provided Courtesy of Arbie Turner Homes Keller Williams Fort Mill SC

Hire a positive and proactive team of Realtors to help find your next home!

For more information please visit:  http://ArbieTurnerHomes.com

Call or text 803-207-7051

Looking for a new home: http://arbieturner.newnha.com

Like us on Facebook!  https://facebook.com/ArbieTurnerHomes

View our channel https://www.youtube.com/channel/UCrHhsqvC-3mZ_CC