All Forum Posts by: Adam Taylor

Educating investors about market conditions is essential. In a seller's market, home prices typically increase due to limited inventory, while in a buyer's market, prices tend to be more negotiable. According to the National Association of Realtors (NAR), as of 2023, housing inventory remains 40% below pre-pandemic levels, leading to heightened competition in many areas.

To be considered a neutral market, not seller's or buyer's, the specific market center would need to have 6 months of inventory. This means that if not another house was put up for sale, in 6 months, the market center would run out of houses to sell.

In August of 2024, Greenville had 3.8 months of supply. With the current supply, we are technically in a seller's market. The current Average Days on Market is 40 Days. Concerning pricing, we are presently looking at 98.5% from list price to sales price. This means that buyers in our area are, on average, acquiring the house for 98.5% of the listing price.

ex: Listing Price ($250,000) x 0.985 = Sales Price ($246,250)

The data will provide guidance as we determine your next investment!

The most major factor in most markets is affordability. As rates come down, it will make that budgetary decision (buying a home) more palatable and will give buyers the "flexibility" to offer more in multiple offer situations as demand will increase with rates falling. We are in a supply shortage with high demand BUT there has been a lot of demand on the sideline waiting for rates to fall. When rates fall, demand goes even higher. As rates fall, houses get more affordable. As affordability increases, the palatability for offering more will increase as necessary.

According to people who study the stock market, there is a common theme, "buy the rumor, sell the news." What does this mean? As people look at market trends and when to invest, there are certain signs that can get you ahead of the curve. When an anticipated event happens in the market, prices are affected. Waiting for the event to come and then act, will cause you to lose money as people who decided to go ahead and jump, are selling as they had already made lots of money.

The same thing can happen in the housing market. As we prepare to see rate cuts, what will happen? When interest rates drop, homes prices will increase. Additionally, buyers will flood the market looking to take advantage of lower interest rates. Competition for homes will increase, giving sellers the chance to increase their prices. As a buyer, you're less likely to get the terms you want, you may pay more for a house than it's actual value, and you may lose some of the offers that would have won.

Buy now, refinance later (if that makes sense for you). This will get you the investment at the price you're looking for, while gaining appreciation in a hot market caused by migration and lower prices compared to the rest of the country (Greenville, SC).

The demand in Greenville, South Carolina, stems from several factors that collectively contribute to its attractiveness as a place to live, work, and play. Firstly, Greenville has undergone significant revitalization efforts over the past few decades, transforming its downtown into a vibrant and walkable area filled with restaurants, shops, and cultural attractions. This revitalization has created a dynamic urban environment that appeals to young professionals, families, and retirees alike. 

Additionally, Greenville benefits from a strong and diverse economy, with thriving industries such as advanced manufacturing, healthcare, technology, and automotive. The presence of major employers like BMW, Michelin, and Fluor Corporation has led to job growth and economic stability in the region. 

Furthermore, Greenville's natural beauty, including its proximity to the Blue Ridge Mountains and outdoor recreational opportunities, adds to its appeal, attracting outdoor enthusiasts and nature lovers. Overall, the combination of a thriving economy, vibrant downtown, and natural amenities makes Greenville a highly desirable place to live, driving up demand for housing and contributing to its sustained growth.

Could the Upstate of South Carolina be the place for you to invest?

Deciding whether to sell or rent out your home hinges on financial factors like immediate cash needs versus long-term income goals, alongside market conditions in your area—favorable for selling if it's a seller's market or for renting if there's high demand for rentals. 

Long-term objectives play a crucial role; selling might be preferable if you need funds for other investments, while renting could be beneficial for building equity and generating rental income. 

Consider the responsibilities involved, with selling releasing you from property management duties and renting requiring ongoing maintenance and tenant management. Tax implications also differ; selling may incur capital gains tax, while rental income is taxable but offset by deductions.

There are several factors to consider when deciding if you should sell or keep your property as a rental.