All About Greenville SC Real Estate

Join us for a Realtor Progressive Luncheon in the Verdmont Community in Simpsonville, SC May 10th!

info@delcorealty.com (Delco Realty Group) — Wed, 09 May 2012 21:32:14 -0400

Realtor Open House / Progressive Lunch Beautiful Charleston-style community with amazing amenities. Conveniently located to Fairview Road shopping. Homes available from $280K - $300,000+ Where: 23 Marquette Road, Simpsonville, SC 29680 When: Thursday, May 10th 11:30am - 1:30pm For those who qualify, USDA Rural Housing can help put you in a Verdmont home with zero cash down (100% financing). Call Lisa for details at (864) 915-8547!

Are Home Values Listed on Zillow Zestimates Accurate for Greenville SC Market?

info@delcorealty.com (Delco Realty Group) — Thu, 26 Apr 2012 13:01:00 -0400

How Much Do You Think Your Home is Worth? When I speak to homeowners who consult with me before listing their home for sale, I find the first thing they ask or want to know is, "What Is My Home Worth?" Well, that is a simple question with a potentially complicated answer. I will usually turn the question around and ask them, "What do YOU think Your Home is Worth?" I do this because I want to understand where are they at mentally in the process of selling their home. At this stage, most homeowners have not emotionally detached themselves from their home to look at it analytically (as a house) and, in many cases, will overvalue their home's worth. The most common answers I get back from a seller is: Price based on what the neighbor's house sold for Price based on what they bought their home for at the height of the market plus what they spent on it since living there In some instances, the homeowner will base the Price on an appraisal that is no longer valid (a year or more old) Myth: A Zillow Zestimate or Trulia Estimate is like a CMA or Appraisal WRONG! Many consumers looking for answers to any of their questions in this high-tech age, will begin their research on the Internet. So it is no surprise when a seller begins their search for home value on the Internet and tells me that they based it on data they found via Zillow Zestimates, Trulia Estimates, Homefinder.com, etc. I pick on Zillow Zestimates only because the profound majority of prospective sellers I have worked with seem to get their "Internet Home Value" from Zillow. The reality is, ALL of these Internet Sites claiming to provide Home Values cannot replace the accuracy of a Comparative Market Analysis (CMA) or a recent home appraisal. There is much more data that a localized CMA or appraisal considers - land value, condition of the home or property, unique features or amenities, seller contributions, recent renovations to a home, foreclosures in the area, etc. In the Greenville SC market, the Zestimates tend to be LOW compared to what homes are actually selling for. Choosing a Realtor that is armed with this knowlege can help you combat "low-ball" offers on your home. Homeowners looking at these Internet Home Values rarely look at the fine print regarding the accuracy (or lack thereof) of the home values these Internet sites are providing. The data and accuracy varies greatly from county to county and state to state. Furthermore, I have seen the margin of error fluctuate an additional 5% from quarter to quarter just in the Greenville SC! Below is a table illustrating an example of Zillow Zestimate Accuracy based on South Carolina Counties. This data is computed for the three-month period ending December 31, 2011 and was last updated February 29, 2012. This table was taken from Zillow today (April 26, 2012). I have highlighted Greenville County. Just in the last couple of months (comparing data from period ending September 30, 2011), Zestimate Accuracy according to Zillow declined from 4 stars to 3 stars. Looking at the table above, approximately 29% of the time, the Zestimate was within 5% of the selling price, 50% of the time the Zestimate is within 10% of the selling price and finally, nearly 72% of of the time the Zestimate was within 20% of the selling price. That still leaves a SIGNIFICANT percentage of homes who's Zestimate is inaccurate (high or low) MORE than 20% than the selling price. That quickly translates to $10's of thousands of dollars quickly! The median error is 9.6% (which was slightly better than the 10.8% in the previous quarter), which means that the Zestimate for half of the homes in Greenville County for this period are within 9.6% of the selling price, and half of the Zestimates are off by more than 9.6%. Trulia Estimates for Greenville County SC had a median error of 12.7% (according to data generated on March 4, 2012). In fact, a quote taken from the Trulia website regarding the "accuracy" if its Home Estimate data says it all: "If you're looking for a precise value for your home, or if you're thinking of selling your home, we recommend you talk to a real estate professional. After all, our algorithms are smart, but we can't know everything about your home’s features and location." Buyers or Sellers: Consult with Your Local Realtor to get Accurate Home Value If you are interested in selling your home, relying on Internet Home Values from sources like Zillow Zestimates or Trulia Estimates could create a situation where you list your home too high, missing that perfect buyer in the prime months of the year, causing your home to sit on the market longer than it should. In other cases, it may cause you to leave money on the table with a low selling price. We especially see this with unique properties outside of a typical neighborhood where valuating land (acreage) is important. If you are a propsective home buyer relaying on Internet Home Values to make an offer on a home for sale, you may insult a seller (offer too low) or even spend more for the home than what the market is willing to bear. Right now, it is still a buyers market, however the best buyer is armed with accurate information to make a successful purchase on the home of their dreams. In either case, as a prospective buyer or seller, get professional representation from a local, licensed Realtor who is a FULL-TIME real estate agent. Ask how many years they have been representing buyers and sellers in your local market. Delco Realty has been serving the Greenville SC Real Estate Market since 1975. Let one of our Delco Realty agents help you buy or sell your Greenville SC home so you get the best deal for YOU!!

In Real Estate, What Does, "Location, Location, Location" Really Mean?

info@delcorealty.com (Delco Realty Group) — Wed, 25 Apr 2012 11:21:37 -0400

The age old motto of real estate is, "Location, Location, Location!" At Delco Realty Group, we bring context and relevance to what is important to Buyers when they start looking for their next home. For our Listing (Seller) clients, it is very important to understand this as well since we utilize the human element of buyer behavior to build a custom marketing plan to selling a home based on this motto. Location to where you Work Location to where you Play Location to where your Children go to School - (this is the most important search criteria for buyers with children) Location to where you Worship There is other criteria buyers consider when purchasing a home, however these are the top four (4) pieces of criteria specific to LOCATION. This has proven true in over 35 years of experience helping buyers and sellers. Once the Location criteria is figured out, the search narrows to neighborhoods or areas, specific home attributes (price range, square footage, number of bedrooms, number of bathrooms, amenities, etc.). Consult With Your Neighborhood Specialist at Delco Realty Group! No obligation, no up-front fees, no giimicks! Just Results! Call (864) 292-3333.

Palmetto Heros Program Designed to Help SC Law Enforcement, Teachers, Firefighters, Nurses, and Veterans become Homeowners!

info@delcorealty.com (Delco Realty Group) — Wed, 25 Apr 2012 11:01:05 -0400

$10 million Home Buyer Program Will Salute South Carolina Heroes3.75% Interest Rate and $5,000 Toward Down Payment Expenses The South Carolina State Housing Finance and Development Authority (SC State Housing) announces a $10 million initiative designed to help South Carolina law enforcement officers, correctional officers, teachers, firefighters, nurses, veterans and EMS personnel who want to become homeowners. Buying a first home can be a challenge, even if you are employed in a noble profession, but with a modest salary. Palmetto Heroes will provide low interest home loans to members of these professions who qualify. Eligible Palmetto Heroes home buyers can get a fixed interest rate of 3.75% on a mortgage as well as down payment assistance of up to $5,000. This down payment assistance could even be forgivable over time in some cases, depending on the borrower’s income. “Being able to afford a home is a growing concern for everyone in our state,” said Valarie Williams, SC State Housing’s Executive Director. “It’s important that we salute these Palmetto State heroes and invest in them.” She said the Palmetto Heroes program might even strengthen recruitment and retention in these career choices, vital to our state’s overall wellbeing. “This is just one way SC State Housing can recognize these dedicated individuals who contribute so much to our state.” Palmetto Heroes is available to law enforcement officers, correctional officers, teachers, firefighters, veterans, nurses, and EMS personnel who are currently certified in their profession, and reside and work in South Carolina or have a contract to begin working here within 60 days of closing on a home. Those who do not qualify for Palmetto Heroes may still qualify for one of the other lending programs offered by SC State Housing. The regular home buyer’s program is available year round to a broad range of South Carolinians seeking to become homeowners. Mortgage loans can be up to 30 years and are available through any of SC State Housing’s network of more than 100 participating private sector lenders and brokers statewide. Maximum income limits are based on the median income per county and household composition. The Palmetto Heroes program may not be used for refinancing. For more information, contact one of the Realtors®, banks or mortgage brokers certified in SC State Housing programs. A list is available at the agency’s website:http://www.schousing.com. SC State Housing is a self-sustaining agency of state government and does not receive a state appropriation.

South Carolina Real Estate Market Statistics for February 2012

info@delcorealty.com (Delco Realty Group) — Wed, 11 Apr 2012 10:45:36 -0400

For the Month of February 2012, home sales in all South Carolina major markets were up. Greater Greenville and Spartanburg areas were up 7.7% and 10.4% respectively compared to the same period last year (February 2011). Pending sales are up 16.9% and inventory levels shrank 15.7%. This trend should favor the seller a bit more as home prices rise (with increased demand) and inventory (supply) shrinks. This is what we have been talking about in our earlier post on the Delco Realty Group Facebook FAN Page re: the "Days on Market" trending downward. February 2012 Home Sales in South Carolina Market # of Homes Sold % Change from Feb 2011 Charleston Trident 604 +2% Greater Columbia 448 +7.4% Greater Greenville 464 +7.7% Spartanburg 191 +10.4% Western Upstate 222 +12.7% The price range with the largest gain in sales was the $100,000 and below - most likely because Investors are jumping in the market before prices and interest rates rise. The price range that tended to sell the slowest was the $300,000 and up homes. Questions about the Greater Greenville or Spartanburg real estate markets specifically? Contact Delco Realty today for a no-cost, no-obligation consultation!

Selling Real Estate in ANY Market Requires a Plan

info@delcorealty.com (Delco Realty Group) — Tue, 06 Mar 2012 19:26:39 -0500

Selling Real Estate in ANY Market Requires a Plan Developing a marketing plan to sell your home requires a unique one-of-a-kind strategy that specifically works for YOUR situation as a seller. We can incorporate proven marketing techniques for today's challenging environment, however each marketing plan Delco Realty Group develops is very personal. Avoid "Gimmicks" Don't be taken by "gimmicky" real estate programs that "promise" to sell your home in a certain period of time - typically offering promises to sell your home in 60 or 90 days. I've even seen one article entitled, "Sell Your Home in 5 days!" When you read the fine print or listen to the terms and conditions of these offers, it usually requires you to make upgrades to your home and/or drop your price significantly. And if they don't sell your home in the timeframe they "guarantee," they usually blame YOU for not following their rules! Here are some of the gimmicks to watch out for..... "We will Sell Your Home in 90 days or We will Buy It!" - what they don't tell you is that the "buyers" are real estate investors they have partrnered with who prey on desparate sellers. They even offer to close on your house in 30 days or less with cash. You have to ask yourself... who is this brokerage representing?... Me or their Investor partners? "We will Sell Your Home in 60 Days - Guaranteed!" - another gimmick to sell you home in 60 days. This might have worked in the real estate boom, but gone are those days. Just ask any homeowner today who bought a home 5 or more years ago and they will probably tell you that their home is worth LESS today than when they bought it. "We are and we Sell More Homes Than Anybody." - Truthfully, there are plenty of Agencies with Big Names on their buildings that DO sell more homes than Delco Realty Group. Their overhead is great and they have to sell more homes to cover their overhead. Many of our clients candidly have tried selling their home with big name companies before they became clients of Delco Realty. Most of them felt like they did not get the personalized service they were expecting. After the listing appointment, the sign was put in the yard and the home listed on the MLS and.... they didn't heard from their agent again. Additionally, some of these high volume "billboard agents" focus on flat fee listings, and as a result, don't give you or your unique situation the personalized attention it might need. Flat fee listings are really about agents trying to build a predictable income in unpredictable times. They collect their listing fee up front for putting your home in the MLS - that's it. Again, this may be something to consider, however most folks who truly "need" a flat fee listing are upside down on their house (cannot afford to pay a sales commission). These are folks that need an experienced agent more than ever! Should I Considering Renting My Home If I Can't Sell It? Honestly, it depends on your situation. Renting a home carries risk. You are responsible for the mortgage. Regardless of rental agreements, etc. do you have savings to cover any carrying costs if your renter defaults? And even if you rent it for your full mortgage payment, it still counts as debt and directly affects your credit in terms of "ability to pay" whether you are looking to rent or downsize in this uncertain market. WHat if something breaks in the home.... the dishwasher, roof leaks, heating ro air stops working... these are expenses you will typically have to cover. Renting your Home if you can't sell it, is an option, but you will want to consider all options. Delco Realty Group has a property management division and we have over 30 years experience doing property management in the Greenville market. Delco Realty Group can help you navigate these shark-infested waters to help you decide what is best for YOU! Have a Plan Real estate market conditions are constantly changing. Success in selling your home quickly for the maximum market price depends on experience, exposure, and understanding the market conditions as well as taking into consideration YOUR situation around selling your home. Having a tailored online marketing plan for YOUR home is a MUST! 94% of Buyers Use the Internet to Begin their Home Search! 46% of Buyers Found the Home they Purchased via the Internet! * And the Trend is Increasing every month! Today's real estate buying has come of age similar to that of car buying. Most all buyers perform extensive research on the Internet BEFORE ever contacting a real estate agent or seeing a property. Rest assured, your Del-co Realty Group Realtor® has been trained to listen, be creative, and use proven online sales strategies to get your home sold quickly and for maximum dollar. We fuse high-tech with high-touch throughout the process, communicating with you regularly. Del-co Realty Group would love to show you what we can do for you. Please contact us today!

Hunter Place - Neighborhood Profile

info@delcorealty.com (Delco Realty Group) — Tue, 06 Mar 2012 15:31:49 -0500

Hunter Place Community of Greer South Carolina Hunter Place is a quiet community located off of Taylor Road between Highway 101 and Highway 14 in Greer, South Carolina. Convenient to Greer and Taylors shopping, and restaurants as well as I-85 and the Greenville-Spartanburg (GSP) Airport. Spacious lots accompany a private neighborhood with only one entrance/exit. Greer CPW utility serves this community; service includes free trash pickup. Check out the Hunter Place Homes for Sale link below for more information.

Bent Creek Plantation - Neighborhood Profile

info@delcorealty.com (Delco Realty Group) — Sun, 29 Jan 2012 21:14:53 -0500

Bent Creek Plantation is a Greer South Carolina family-oriented community located in Spartanburg County off of Highway 14 behind Village Hospital; convenient to I-85. The average home price in this neighborhood is in the $160's. Amenities include a community swimming pool and tennis courts. Del-co Realty Group has just offered a RARE basement home for sale in Bent Creek Plantation that has been meticulously care for. View single family homes for sale in Bent Creek Plantation.

Strathmore - Neighborhood Profile

info@delcorealty.com (Delco Realty Group) — Sun, 29 Jan 2012 20:57:57 -0500

Strathmore Community in Greer, South Carolina is a one-of-a-kind neighborhood. Lots are three acres or more. Come experience upscale living in a county-like setting. In the heart of Eastside area of Greer close to Thornblade. View single family homes for sale in Strathmore.

Nationally Recognized Realtor and Local Business Man of Greenville Passes Away

dot@delcorealty.com (Dot DeLuca) — Mon, 09 Jan 2012 14:37:30 -0500

It is difficult to express my feelings knowing we have lost Dan. However, it is comforting to know he loved the Lord and is now at home with his Mom and Dad, who loved him greatly. There are many reasons I admired Dan. Of course he was a great businessman and participated in many community activities; however, above all, Dan loved his family and I am certain, they all knew it. Dan loved the Christmas season and I am grateful he enjoyed the time with his family and friends before God called him home. My prayer is that Kat and the children will find comfort in the love surrounding them at this sad time. With my deepest sympathy. -Dot DeLuca