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Old 11-20-2011, 10:07 AM
 
116 posts, read 245,724 times
Reputation: 76

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I get daily emails from a local realtor listing new properties coming on the market and price changes to existing properties. I know the Greenville area is a fairly large metropolitan area, but is there a reason why there are seemingly so many properties coming on the market and why most all price changes are downward, other the obvious government caused real estate crash. Are they reasons nobody wants to talk about why people are trying to see and move or is this just a normal amount of activity.

From a prospective resident!
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Old 11-20-2011, 10:50 AM
 
291 posts, read 567,831 times
Reputation: 345
You will find this area to be one of the more stable if not faster recovering areas in the US. There are no real negative issues underlying the housing market in this area that I am aware of. In fact, the local economic news has been nothing but positive for the past year or so. Major announcements of new companies, new jobs, new construction etc.
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Old 11-20-2011, 03:13 PM
 
Location: Piedmont, SC
663 posts, read 1,200,393 times
Reputation: 312
Quote:
Originally Posted by FisherOne View Post
I get daily emails from a local realtor listing new properties coming on the market and price changes to existing properties. I know the Greenville area is a fairly large metropolitan area, but is there a reason why there are seemingly so many properties coming on the market and why most all price changes are downward, other the obvious Wall Street caused real estate crash. Are they reasons nobody wants to talk about why people are trying to see and move or is this just a normal amount of activity.

From a prospective resident!
Fixed it for you, ha ha. In my neighborhood, there are currently none for sale, so I'm pretty confident the housing market is pretty healthy in my subd. Either that, or prices are so low, no one wants to sell.
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Old 11-21-2011, 06:07 AM
 
Location: Greenville, SC
53 posts, read 99,793 times
Reputation: 95
Although the real estate market is down in all areas of the United States, Greenville and most of the surrounding areas were not hit as hard. This is thanks in large part to our city leadership who helped make Greenville a wonderful place to be regardless of the economy, and because of all the business activity and growth.

Home inventory is actually less than our average but it still is strong. You actually might see less homes on the market during the holidays because clients traditionally don't want to view or show homes during this season.

Regarding prices going down, after the bubble burst, prices did go down but the reductions that you see in your emails could be agents trying to use a lower price as an enticement to buy. Some agents start high and lower the price incrementally until they hit their seller's lowest price or find a buyer. We help our clients price accurately to begin with so they don't have to play that game.

Regarding the crash, not only did the government change the way the lending industry could accept loans (thus making it easier to issue junk loans to people with little or no ability to pay), they did not have the regulation in place to keep them in check.
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Old 11-21-2011, 07:10 AM
 
Location: Upstate, SC
212 posts, read 370,106 times
Reputation: 127
Quote:
Originally Posted by wstewart1 View Post
Regarding the crash, not only did the government change the way the lending industry could accept loans (thus making it easier to issue junk loans to people with little or no ability to pay), they did not have the regulation in place to keep them in check.
I agree with this. It was not ONLY government or ONLY Wall Street.
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