Different worlds in real estate

October 20th, 2017

There are different worlds in the real estate market.  This means that depending on what you are selling and buying you will find yourself facing different obstacles.  This is a great time to make a move and a great time to buy real estate.  We are looking at a more positive economic outlook which creates movement and opportunity.  Interest rates are still at historic lows which is good for buyers and sellers. Housing inventory still remains a challenge, but there is a bright side with that too.

The National Association of Realtors latest Existing Home Sales Report, states that the inventory of existing homes for sale in today’s national market is at a 4.2-month supply. This is lower than the six month housing supply that would indicate a neutral market.

Within the starter and trade-up home categories, there are significantly more buyers than there are homes for sale, causing a seller’s market. Yet in the premium home category, the opposite is true.  There is simply a surplus of these homes compared to the buyers that were out searching for their dream homes, which has created a buyer’s market.

Reviewing the latest report from Trulia, you can see that we are in a housing shortage. In fact, the recent and multiple natural disasters across the country have made inventory conditions even tougher.

Below is an illustration provided by Keeping Current Matters, utilizing Trulia’s data. We liked this graphic because it also shows the different between the homes available and buyers for each home category.

It looks like there is most competition for starter homes, then trade up homes.  Premium homes have less competition.  Maybe now is the time to look into finding your dream home.  We can help.

All real estate is local. York County South Carolina has a lot to offer. Whether you want to visit the lakes, or be entertained you will not be let down. York County also has medical centers and higher education centers available. If you are thinking of making a move, give us a call. We have the deep community roots and network to help you find your next home. We can show you all of the beautiful areas of York County.

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.

Courtesy of Arbie Turner Homes Keller Williams Fort Mill SC

We work hard for our customers.

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

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Don’t wait too long

October 13th, 2017

Don’t wait too long, if you are looking to enter the real estate market.  If you have been wondering if now is a good time, we have some news to share with you.  We have some great reasons why you should make that move.  One thing to consider, time is not your friend if you are looking to buy.

The Cost of Waiting to Buy is defined as the additional funds it would take to buy a home if prices and interest rates were to increase over a period of time.  There are great opportunities available in housing, and we can help you find them.

Home prices nationally are rising.  This is primarily happening due to a higher demand for housing and appreciation.  In addition, many current homeowners are no longer in a negative equity situation.  This frees them up to make a move.  CoreLogic predicts home prices to appreciate by 5.0% over the next 12 months. Growth like this really builds up value.

When we look at interest rates it is important to acknowledge that they are at historic lows.  What we are considering is the amount of buying power linked to interest rates.  Simply put, the lower the interest rate, the more you can borrow.  Freddie Mac predicts interest rates to rise to 4.4% by next year.

Keeping Current Matters provided the attached illustration utilizing statics from Corelogic, Freddie Mac and BankRate.

 

All real estate is local. York County South Carolina has a lot to offer. Whether you want to visit the lakes, or be entertained you will not be let down. York County also has medical centers and higher education centers available. If you are thinking of making a move, give us a call. We have the deep community roots and network to help you find your next home. We can show you all of the beautiful areas of York County.

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.

Courtesy of Arbie Turner Homes Keller Williams Fort Mill SC

We work hard for our customers.

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

 

 

Home Sales Rising in 2018

October 6th, 2017

Home sales are projected to rise in 2018.  There are many reasons for the positive outlook; demand and low interest rates are only two.  This projection has good news for both sellers and buyers.  And if you are a renter, you may want to set your focus on home ownership. After all, owning a home is one of the biggest ways to plump up your financial portfolio.

Demand for housing has been pushing up.  Buyers are getting pre-approved for their mortgage loans, and sellers are experiencing less competition.  A neutral housing market has a six month housing inventory supply, we are currently at approx. 4.3 month supply.

Historically low interest rates are another factor making home ownership within reach for many.  In addition lower interest rates allow the buyer to look at higher priced homes.  This is because they are borrowing money at a low rate verse a higher rate.

If you are a renter and looking to own a home, the timing is good.  You will want to get a mortgage pre-approval from a bank or loan officer.  This will allow you to know what price range you will be able to qualify for.  In addition, a loan pre-approval will let the sellers know, your offer is solid.

When you own a home you expand your investment portfolio.  A mortgage payment is a form of forced savings.  In addition appreciation of your home is also boosting your money by raising the value of your home. If you don’t own a home, you may want to rethink your investment strategy.

So who says home sales are going to rise in 2018?  Freddie MacFannie Mae, and The Mortgage Bankers Association are all projecting that home sales will increase in 2018.  Below is a chart illustrating what each entity is projecting in home sales for the remainder of this year and 2018. This chart was provided by Keeping Current Matters.

 

All real estate is local. York County South Carolina has a lot to offer. Whether you want to visit the lakes, or be entertained you will not be let down. York County also has medical centers and higher education centers available. If you are thinking of making a move, give us a call. We have the deep community roots and network to help you find your next home. We can show you all of the beautiful areas of York County.

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.

Courtesy of Arbie Turner Homes Keller Williams Fort Mill SC

We work hard for our customers.

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

 

 

 

Buying a home builds your portfolio

September 29th, 2017

Buying a home really builds your investment portfolio. Most people want to grow their personal wealth as quickly as possible.   A very powerful and popular tool inside your investment portfolio should be real estate.  While stocks and bonds may rise and fall quickly, real estate traditionally is less risky with hard collateral in hand.

So how much does home ownership pay?   According to Pulsenomics’ most recent Home Price Expectation Survey., home prices over the next five years are expected to appreciate 3.64% per year on average and to grow by 18.4% cumulatively.  Not too bad of an investment choice.

So how does this work and how is home equity working for homeowners?  Oh it is such a beautiful and simple thing. As time progresses and sales prices are pushed up,  the homeowner gains equity.  Even without doing any upgrades or improvements.  The rate of this price acceleration is not constant and many factors can contribute to the calculation.  A housing inventory shortage is one factor that would push sales prices higher and encourage competition. Nationally, we are currently in a sellers market, meaning there is less than six months inventory available.

Here is a great situation of real estate working for the homeowner.  As an example, let’s assume a young couple purchased and closed on a $250,000 home in January. If we look at only the projected increase in the price of that home, how much equity will they earn over the next 5 years?  Below is a great illustration provided by Keeping Current Matters.

 

As you can see, home ownership is a major player in almost any successful investment portfolio. And while you may buy stocks, bonds, and mutual funds;  only real estate leaves you with hard collateral in your hand.

All real estate is local. York County South Carolina has a lot to offer. Whether you want to visit the lakes, or be entertained you will not be let down. York County also has medical centers and higher education centers available. If you are thinking of making a move, give us a call. We have the deep community roots and network to help you find your next home. We can show you all of the beautiful areas of York County.

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.

Courtesy of Arbie Turner Homes Keller Williams Fort Mill SC

We work hard for our customers.

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

 

How is the market now?

September 22nd, 2017

How is the market now?  It is a question that leads to even more questions.  The real estate market can be hard to interpret, that is why you should have a real estate professional on your side.  What most people want to know is if it is a good time to sell, buy or rent.  If you are a seller, you want to get the maximum price.  If you are a buyer, you want to get a good deal.  If you are a renter, you now don’t need a 720 FICO score.  There are all forms of forces pulling and tugging on the principals of supply and demand.

Where are they balanced today?

Well we knew who to ask.  The National Association of Realtors reports that national inventory levels are now at a 4.3-month supply. A normal market, where prices appreciate with inflation, has 6-7-months inventory.  This means we are in a sellers real estate market.  There is just a restriction or a lowering of the current housing inventories, based on sales.  This generally can create a market where there is more competition for the housing available. This can also reduce time frames and speed up closing dates. The national market has echoed these conditions in the starter and trade-up markets, as inventory has declined.

According to Trulia’s latest Inventory Report, the inventory of homes for sale in the two lower priced markets has dropped by double digit percentages over the last 12 months (16% for starter and 13% for trade-up homes).

The chart below shows the relationship between the inventory of homes for sale and prices. This chart was provided by Keeping Current Matters.

Current Real Estate Market

Current Real Estate Market

All real estate is local. York County South Carolina has a lot to offer. Whether you want to visit the lakes, or be entertained you will not be let down. York County also has medical centers and higher education centers available. If you are thinking of making a move, give us a call. We have the deep community roots and network to help you find your next home. We can show you all of the beautiful areas of York County.

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.

Courtesy of Arbie Turner Homes Keller Williams Fort Mill SC

We work hard for our customers.

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

 

 

 

Where are prices going?

September 15th, 2017

Where are prices going in the future? Nationally we are experiencing a sellers market, meaning we are below a six month housing inventory.  A sellers market generates tighter competition, shortened time lines and pent up buyer demand. All of these factors will push up sale prices in the next few months.

But what will happen to sales prices in the future? While it is true that no one knows the future, there are some indicators to help us see what may happen.

Did you know that every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts, and investment & market strategists about where they believe prices are headed over the next five years. In conclusion, they then average the projections of all 100+ experts into a single number.  Nice. That is why we like the Home Price Expectation Survey

The Results:

Home values will appreciate by 5.0% over the span of 2017, 4.0% in 2018, 3.2% in 2019, 3.0% in 2020, and 3.0% in 2021. That means the average annual appreciation will be 3.64% over the next 5 years.

Attached is an illustration provided by Keeping Current Matters.

Mean Appreciation - sales price

Mean Appreciation – sales price

So what does all this mean?  Now is a great time to own a home. In 2017 homeowners are enjoying a 5% appreciation. If you are renting and thinking of making the move, let us help you.

All real estate is local. York County South Carolina has a lot to offer. Whether you want to visit the lakes, or be entertained you will not be let down. York County also has medical centers and higher education centers available. If you are thinking of making a move, give us a call. We have the deep community roots and network to help you find your next home. We can show you all of the beautiful areas of York County.

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.

Courtesy of Arbie Turner Homes Keller Williams Fort Mill SC

We work hard for our customers.

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

 

 

1, 2, 3 and Sold Fast

September 1st, 2017

1, 2, 3 and sold fast.  The rate at which houses are selling resembles popping corn.  Homes are nationally on the market for a shorter time.  We are now enjoying an even faster turn around in the housing market.  This is great news for sellers who are looking to list soon.  At this time we are still in a seller’s market.  This means that we are below the six months housing inventory considered to be a indication of a neutral housing market.  Sellers  are now experiencing less competition for buyers attention.  In fact, it is not uncommon to receive multiple offers on your home.

While existing home inventories are limited, it seems that the number of people looking for a home has increased.  There are several reasons renters turn into homeowners.  Owning a home is a proven path to building wealth and expanding an investment portfolio. Yet still another popular reason is to find a place to raise children.  The benefits of home ownership and a good school district draw renters into the buying circle. There are several factors pressing on housing inventories, houses are moving fast.

How fast you may ask, well we decided to look into it. The National Association of Realtors (NAR) recently issued their latest Existing Home Sales Report, which illustrated that homes were on the market for an average of 28 days during June. This is a increase from the 27 days reported in May, but down from 34 days reported a year ago.

54% of homes across the nation sold in less than a month in June!

Among the 27 states with homes selling in 30 days or less are Washington, Utah, California, and Colorado. The map below was created using results from NAR’s Monthly Realtors Confidence Index Survey., and provided by Keeping Current Matters.

 

South Carolina is right in the middle of the nations average for days on the market.

Let us show you why York County South Carolina is such a special place.  One additional factor is, the close access to Charlotte, which is a financial hub and a major employment center. In fact, some areas of York County is considered a bedroom community to Charlotte.

All real estate is local. York County South Carolina has a lot to offer. Whether you want to visit the lakes, or be entertained you will not be let down. York County also has medical centers and higher education centers available. If you are thinking of making a move, give us a call. We have the deep community roots and network to help you find your next home. We can show you all of the beautiful areas of York County.

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.

Courtesy of Arbie Turner Homes Keller Williams Fort Mill SC

We work hard for our customers.

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 has positive equity

August 25th, 2017

South Carolina has a high amount of homes with positive equity.  This is great news for homeowners as it affords them more options.   Many people are choosing to stay in their existing home longer, making upgrades while building positive equity. Some people choose to make upgrades and then cash out, moving onto another home.  While some homeowners refinance their mortgage choosing to stay in their home while using the money for personal reasons.  What is important to note, is that in South Carolina the number of homeowners with positive equity is on the rise.

There are basic ways that a homeowner can build equity.

  • Homeowner could make a large single payment towards principal.
  • Homeowner could make additional monthly payments.
  • Homeowner could refinance for a shorter term or a lower loan amount
  • Sales prices in the area increase, making your home more valuable.

And while each of these will work, the only one that does not require an action by the homeowner is the sales price.  Sales prices can be raised when there is strong demand on the limited housing inventory.  Right now we are experiencing a strain on our existing housing inventory.  We simply have more buyers looking for homes then homes are available. So if you are a homeowner who is looking to list your property, now is a great time.

CoreLogic’s latest Equity Report revealed that ninety-one thousand residential properties regained equity in Q1 2017. The outlook for 2017 remains positive as well, as an additional 600 thousand properties will regain equity if home prices rise another 5% this year.

This map shows the percentage of homes with a mortgage, in each state, that have positive equity.   Keeping Current Matters provided this illustration.

Positive equity by state

Positive equity by state

 South Carolina is doing fine.  We are enjoying a high level of equity growth.

You can see why York County South Carolina is the place to be.  Houses are on the market for a shorter amount of time then several other areas in the country.  Buyer demand is strong, making South Carolina a hot real estate market. One additional factor is, the close access to Charlotte, which is a financial hub and a major employment center. In fact, some areas of York County is considered a bedroom community to Charlotte.

All real estate is local. York County South Carolina has a lot to offer. Whether you want to visit the lakes, or be entertained you will not be let down. York County also has medical centers and higher education centers available. If you are thinking of making a move, give us a call. We have the deep community roots and network to help you find your next home. We can show you all of the beautiful areas of York County.

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.

Courtesy of Arbie Turner Homes Keller Williams Fort Mill SC

We work hard for our customers.

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

Proof South Carolina is a great place to live

August 18th, 2017

Proof South Carolina is a great place to live.  We have some more great data that we want to share about our home state.  We have deep ties to South Carolina, especially York County.  We believe that you too will recognize that York County is a special place.  But don’t just believe us, check out http://www.visityorkcounty.com .  This site is a reliable resource which also provides videos for review.  One nice production is https://youtu.be/Ydhm-p0A2OA.

York County, South Carolina has a rich history, with an eye to the future. Maybe your future home is here.

But there is another reason you should move to South Carolina.  That reason is the cost of living.  In South Carolina, your money does actually go farther than in other areas. In fact, South Carolina’s cost of living is similar to that of the mid-west.

Attached is an illustration that has been provided by Keeping Current Matters.  It is very interesting to view each state and compare.

You can see why York County South Carolina is the place to be.  Houses are on the market for a shorter amount of time then several other areas in the country.  Buyer demand is strong, making South Carolina a hot real estate market. One additional factor is, the close access to Charlotte, which is a financial hub and a major employment center. In fact, some areas of York County is considered a bedroom community to Charlotte.

All real estate is local. York County South Carolina has a lot to offer. Whether you want to visit the lakes, or be entertained you will not be let down. York County also has medical centers and higher education centers available. If you are thinking of making a move, give us a call. We have the deep community roots and network to help you find your next home. We can show you all of the beautiful areas of York County.

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

 

 

Rising prices creates rising equity

August 11th, 2017

Rising prices creates rising equity.  This is great news for current homeowners who are enjoying seeing their equity rise.  The math behind this is very simple.  You basically take your home’s current estimated value and subtract how much you owe on the home. This amount represents how much estimated equity you have created. If you are looking for more than an estimate, and want hard numbers, a full appraisal will be needed.

Equity is an important step for building wealth, and long term financial success. Every time you make a mortgage payment, you are building equity.  In addition, a mortgage payment can be seen as a way to force a savings plan.  When homeowners have built up equity, they have more options available.  Some homeowners may cash out and sell, some will stay in their homes building more equity, and some will refinance and use their equity for personal reasons.  The end result is that building equity offers homeowners more options.

According to CoreLogic’s  Homeowner Equity Report, the average American household gained over $14,000 in equity over the course of the last year, largely due to home value increases. Not bad.

The map below was created using the same report from CoreLogic and shows the average equity gain per mortgaged home during the 1st quarter of 2017 (the latest data available).  This map has been provided by Keeping Current Matters.

Rising equity

Rising equity

 

You can see why York County South Carolina is a great place to be.  Homeowners in York County are enjoying rising equity, at a great rate. Houses are on the market for a shorter amount of time than other several areas in the country.  South Carolina also offers close access to Charlotte, NC, which is a great financial hub and employment center. We have great things to offer.

All real estate is local. York County South Carolina has a lot to offer. Whether you want to visit the lakes, or be entertained you will not be let down. York County also has medical centers and higher education centers available. If you are thinking of making a move, give us a call. We have the deep community roots and network to help you find your next home. We can show you all of the beautiful areas of York County.

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