Is Greenville overbuilt? (short sales, real estate, how much)

[Doctor Octagon]

Curious if you guys think that Greenville is overbuilt (spec builders everywhere, and spec homes still sitting) or do you see G'ville growing and these homes being occupied in the near future?

The reason I ask is because I am getting my GC license, and for employment, I can either be a Project Mngr (again), be an Estimator with a builder/GC, I can rehab and be a Real Estate Investor, or I can build a few houses per year and be a GC. My education and experience allows me to choose which one I would like to do, but I am asking you all for your advice as to which would be best for me based on the G'ville market, and what it may do in the future. But obviously I have to be in a market that will allow me to do so.

I used to live in Asheville, and I think G'ville will provide better employment opportunities for me, atleast at this time. Thanks for reading.

[Doctor Octagon]

No takers yet?

[motonenterprises]

The area is growing constantly at around 20,000+ a year now and I think its going to grow even faster when the recession is over, so there is a need and the houses in the best areas will continue to sell. Not sure if this answers your question or not.

[Doctor Octagon]

Thanks monoenterprises! Appreciate the response.

Anyone else out there have any input? I am also looking for employment up there in an Assistant Project Manager, Estimator type job, and hardly see anything. Maybe the market will turn around and developers and construction companies will start hiring again --- I hope so!

[Doctor Octagon]

Any unbiased realtors (not trying to be rude, just want some "unbiased" thoughts) out there that would like to share their opinions? I'd appreciate it.

[Doctor Octagon]

I can either be a Project Mngr (again), be an Estimator with a builder/GC, I can rehab and be a Real Estate Investor, or I can build a few houses per year and be a GC/homebuilder. My education and experience allows me to choose which one I would like to do, but I am asking you all for your advice as to which would be best for me based on the G'ville market, and what it may do in the future.

But it makes me nervous how much building has been going on all over the US. But more specifically, is Greenville overbuilt?

Thanks a lot!

[ckeegan]

There is no question that our area is still growing, and in my opinion, we're poised for a pretty decent boom. Businesses are constantly looking into the Greenville market, and the Upstate in general.

Sure, you will see what looks like builders overbuilding given current market conditions, but those same builders are also in a position to recover quicker than others who are hesitant to build any spec whatsoever.

[pgriss]

I hope that we will keep growing but cannot predict the housing market as you already know. I know that the Greenville Area Development Corp. holds regular meetings and welcomes input from area residents as to how they would like to see things grow. I have definitely seen the market on the upswing lately but it depends on the price of course. I don't think the high end homes have been selling as well but more have come on the mls as sold in the last 2 months. I would like to see a reduction of inventory in residential as well as commercial. We have quite a few empty buildings that I would like to see put to good use before someone builds another. It also depends on location as well. I remember the time when you only had to put Wren School District in your remarks and it seemed the home would sell. It has changed a bit and there are new schools coming to accommodate the overcrowding. There are also some areas where homes are only the market for a day or a week and some are just sitting. It is just hard to predict what will happen. Hopefully we will continue to get jobs as we have been very fortunate compared to other cities. One of my family members is a builder and he seems to be holding his own. Some others have had to do "short sales" and just get rid of what they have. I know this is not much help in making your decision and I like to think positive. I have learned not to listen to the news as it is national, not local and I prefer to compare apples to apples.

[Doctor Octagon]

Thanks Ckeegan and prgriss!

[furmanpals]

Yes, Greenville is overbuilt with new homes valued above $200,000. New homes in the right location, in the $150,000 are still selling well.