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Hello, all. We are seriously considering relocating to Greenville, and we would like to inquire as to what is really going on in Greenville, regarding the housing market ? When we look at houses for sale online, it seems that there are a lot of houses that are sitting empty. Would you say that the current real estate market is doing really great and sales have been good -- or would you say that the real estate market in Greenville is depressed. What is the real story about what is happening ? I would really appreciate your take on what the housing market is like right now.
For example, if real estate taxes have been hiked up sky high, this might explain why there would be an exodus out of the area, or a lot of recent layoffs, etc. What is affecting real estate right now in Greenville ?
Is it a good time to buy right now -- or not ?
Thank you !
Right now, it's a buyer's market, and if you're planning to move to Greenville for a good long time, then it's the perfect time to buy. You can get a really nice house for very cheap and then sell it in a few years when the economy is better for a much higher price. But it's like that almost everywhere.
Right now, it's a buyer's market, and if you're planning to move to Greenville for a good long time, then it's the perfect time to buy. You can get a really nice house for very cheap and then sell it in a few years when the economy is better for a much higher price. But it's like that almost everywhere.
+1
Real estate, like stocks, should be a LONG-TERM investment!
As a real estate broker I will tell you yes, sales are a bit slow now but seem to be picking up. I blame a lot of it on the government incentives that were in place earlier in the year. A lot of people who were waiting to buy a home purchased then. We had a large stockpile of homes when the economy bottomed out and it is going to take a while to get back to normal. There have been 4 home sold in my small neighborhood in the last year. And I agree, a home is a long term investment.
I have a nice house for a decent price in a nice neighborhood that has been for sale for six months, and has had a total of 3-4 people come in to look. My realtor says it's the market, there are very few people looking to buy.
I have a nice house for a decent price in a nice neighborhood that has been for sale for six months, and has had a total of 3-4 people come in to look. My realtor says it's the market, there are very few people looking to buy.
...and few will buy until the economy firms up, and until SC's unemployment rate dips below 9% at least, if not more. WAY too much uncertainty now.
I have a nice house for a decent price in a nice neighborhood that has been for sale for six months, and has had a total of 3-4 people come in to look. My realtor says it's the market, there are very few people looking to buy.
How did you decide that your price is right for the market?
If you price 5% under recent sales in your neighborhood, do you think that it would sell? I am asking because we plan to put our Greer area house on the market in March and I plan to price it 5% under recent sales.
Left Greenville around a year ago due to a layoff...house sitting there empty....tried selling it a couple of times, could not sell....now I am in NYC paying a mortgage for a house in Greenville and using the house for vacation. Several homes in the neighborhood that have been for sale for over a year....everytime I visit Greenville those same homes are still sitting un-sold. Some people in the neighborhood where my home is have become so desperate that they have given up trying to sell and are now trying to rent the homes out.
The layoffs and the fact that SC was one of three states hit the hardest with unemployment during this recession has definitely contributed to making the housing market worse....if people are unemployed and can't qualify for bank loans then who can buy the houses?
Play it safe....rent for the next few years...this way if things get worse you can just pack up and move.
Last edited by NewYorkBorn; 10-26-2010 at 07:05 PM..
...if people are unemployed and can't qualify for bank loans then who can buy the houses?
Actually unemployment has less to do with this national problem than you may realize. Many people who are fortunate to have "secure" jobs and good credit scores are being turned down because of tighter financial regulations. This problem is not merely confined to the state of South Carolina; it stretches from coast to coast.
Actually unemployment has less to do with this national problem than you may realize. Many people who are fortunate to have "secure" jobs and good credit scores are being turned down because of tighter financial regulations. This problem is not merely confined to the state of South Carolina; it stretches from coast to coast.
So true Skyliiner!
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