What’s Happening 9-14-13

Beautiful Saturday in Upstate South Carolina. Other than having to deal with some unnecessary drama. Not that any drama is necessary is it?

Enough with the ranting. If you think that was something, then you should be a fly on the wall when I start ranting to my wife about some of the stupid stuff I see or deal with every week. It sure is nice that we have each other to vent to or to confide in. One of the benefits of being married to your best friend!

Well I posted several great articles over on my website this week that I hope you will check out:

Anderson County SC Real Estate Market Report 9-8-2013

Oconee County SC Real Estate Market Report 9-8-2013

Pickens County SC Real Estate Market Report 9-8-2013

Looking Forward Looking Back

Sticks and Stones

Mortgage Insurance: What It Is And Why You Must Pay For It

Sometimes More Is Better

Mortgage Rate Update 9-13-2013

 

Mark Brian

UGLYBUTHONEST.COM

 

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What’s Happening 1-5-2014

Well hello! It has been some time since I posted here. I used to write so much here. At one time, I posted here almost daily but over the past year or 2 I have found that adding content to my website (that I own and control) seemed to be a better long term solution.

Yet I see that I still get people coming from here to my website so I guess I will continue to share links to my latest posts or post my listings here. Anyway, just posted the latest Market Snapshots for Upstate South Carolina. Hope you will check them out at the links below:

Anderson County South Carolina Real Estate Market Report 1-5-2014

Oconee County South Carolina Real Estate Market Report 1-5-2014

Pickens County South Carolina Real Estate Market Report 1-5-2014

Mark Brian

UGLYBUTHONEST.COM

 

search real estate listings in the Anderson SC area

 

real estate estate blog Upstate South Carolina
 

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Mortgage Rate Update 11-22-2013

So are you thinking about turkey, dressing and all the yummy food? Looking forward to spending time with your loved ones? Or maybe you are planning on braving the crowds on Black Friday?

Or maybe you are like me and you are preoccupied with everything real estate. Such as keeping an eye on mortgage rates. So instead of sharing some tips about how to cook a turkey, let’s look at the average mortgage rates reported by the MBA and Freddie Mac for this week:

Freddie Mac Reported:
  • 30-year fixed-rate mortgages averaged 4.22% with an average 0.7 point
  • This is down from last week when it averaged 4.35%
  • Last year at this time, 30-year fixed-rate mortgages averaged 3.31%
  • 15-year fixed-rate mortgages this week averaged 3.27% with an average 0.7 point
  • This is down from last week when it averaged 3.35%
  • Last year at this time, the 15-year fixed-rate mortgages averaged 2.63%

Check out the chart from Freddie Mac showing the average mortgage rates:

freddie mac mortgag rates november 21 2013

Frank Nothaft, vice president and chief economist at Freddie Mac said:

Fixed mortgage rates fell this week on reports of weaker manufacturing growth and declines in overall inflation rates. Industrial production slipped by 0.1 percent in October, below the market consensus forecast of a 0.2 percent gain. The consumer price index also unexpectedly fell during the month. On an annual basis, consumer prices are up 1 percent, the smallest increase since October 2009.

The Mortgage Bankers Association Reported:

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) increased to 4.46% from 4.44%, with points decreasing to 0.38 from  0.44 (including the origination fee) for 80% loan-to-value ratio (LTV) loans.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,000) decreased to 4.47% from 4.48%, with points decreasing to 0.22 from 0.34 (including the origination fee) for 80% loan-to-value ratio (LTV) loans.

The average contract interest rate for 15-year fixed-rate mortgages was unchanged at 3.52%, with points increasing to 0.33 from 0.27 (including the origination fee) for 80% loan-to-value ratio (LTV) loans.

The Take Away:

I guess we can be thankful that most of the rates reported by Freddie and the MBA decreased. However, we have to remember the reason for rates decreasing is because the economy is still weak.

While many of us have plenty to be thankful about, there are many Americans that are facing tough times. I hope you will remember them in your thoughts and prayers. Send some positive energy to everyone you meet during the Thanksgiving Holiday.

They may be facing challenges that you don’t know about.

Now for those watching mortgage rates, I must point out these are the average mortgage rates. You might get a lower or higher rate. The only way to find out exactly what is possible for you is to talk to your trusted mortgage professional.

As always, I am providing this to you for informational purposes only! I am not a mortgage lender and you should contact the lender of your choice directly to learn more about its mortgage products and your eligibility for such products.

Originally post on my blog at Mortgage Rate Update 11-22-2013

Mark Brian

UGLYBUTHONEST.COM

 

search real estate listings in the Anderson SC area

 

real estate estate blog Upstate South Carolina
 

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In Town or Out in The Country?

In case you missed my post about deciding on the ideal location for your next home earlier this week:

If you are looking to buy a home, the good news is you will not need to use a compass to help you find the ideal location. But how can you decide if living in town or out in the country is best for you?

Let’s look at a few advantages of each to help you decide!

City Living

If you seem to always be running behind, then buying a house that is in town might be better for you. Plus you can use public transportation so you won’t have to use a car to get everywhere. You may be able to walk or use a bike to get exercise while running errands or commuting!

Buying a home in town means being closer to shopping, as well as other important amenities such as a doctor’s office, a pharmacy, the post office and more.

I have to point out some of the disadvantages of living in town. First is if you live in the city limits, that means more taxes. The higher taxes may be offset by lower insurance though. Something to check BEFORE you buy!

Also, homes that are in town or closer to town usually cost more. This could mean you will have less SF for your money. And it seems that many homes in town have smaller yards. Which means less space for a garden. Or for kids and pets to play.

Plus there is usually more noise when you live in town.

Country Living

If having some space between your home and your neighbor sounds nice, then living in the country may be for you. When you buy a home in the country, you will be closer to nature. The air will be cleaner and you should be able to see the stars better at night time.

Some people feel that living in the country is safer. I suggest you do your research about crime rates before you buy a house. Often the cost of homes are lower than in the country than in town. You may be able to afford a bigger home on a bigger lot if you choose to live in the country.

You need to consider the commuting costs and the extra time it will take to get to work or to go shopping. Also you need to consider that some of the utilities such as cable or public water and sewer may not be available if you buy a home in the country.

The Take Away

These are just a few things to consider when determining whether you should buy a home in town or in the country. The rural or urban decision is up to you but you must decide which is best before you start looking at homes. Like I said, there are advantages and disadvantages to either option.

The big question is where are you going to be the happiest?

Originally posted at In Town or Out in The Country

Mark Brian

UGLYBUTHONEST.COM

 

search real estate listings in the Anderson SC area

 

real estate estate blog Upstate South Carolina
 

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Anderson County SC Real Estate Market Report 11-10-2013

In case you missed this week’s Market Snapshot for ANderson County South Carolina that I posted on my website on Sunday, here it is:

This report covers what happened for the week ending 11-10-2013 based on information from the Western Upstate Multiple Listing Service for the period 11-3-2013 through 11-10-2013. As always there may have been more closings but the agent has not turned in the closing sheet to the WUAR MLS yet. All this data is from the Western Upstate Association of REALTORS® Multiple Listing Service.

Any snarky or sarcastic comments are from your truly.

13 Homes Sold in Anderson County

There were 6 homes in Anderson, 1 in Belton, 1 in Easley (Wren school district), 2 in Pendleton and 3 in Piedmont reported as sold this week.

12 single family homes and 1 mobile home were reported as sold this week.

The average price of the homes reported sold this week was $185,151.

The median price of the homes reported sold this week was $149,900.

The average days on market was 49.

Remember this is for only 1 week and 13 homes!

Least Expensive Home Reported Sold

The least expensive home reported sold this week in Anderson County was a 1500 SF 3 bedroom 2 bath mobile home on 2 acres in Belton. It sold for $20,500 CASH after being on the market for 25 days. Originally listed for $20,500.

Foreclosure. Brick underpinned but unknown if it was FHA approved foundation. No heat or air either. Not a bad price though considering the size lot and the home appeared in decent shape.

Most Expensive Home Reported Sold

The most expensive home reported sold this week in Anderson County was a 6492 SF 4 bedroom 4.5 bath home on 0.45 acres in Anderson. It sold for $659,900 CASH after being on the market for 10 days. Originally listed for $659,900.

Waterfront Lake Hartwell home with covered double slip dock in place. Foreclosure. 3 car garage. Really nice home and a good price for the size/location/features/build quality.

Deal of the Week

  In my opinion, the best deal of the homes sold this week in Anderson County was a brick 2126 SF 3 bedroom 2 bath home on 3 acres in Anderson. It sold for $55,000 CASH after being on the market for 84 days. Originally listed at $71,900.

Foreclosure. Needed work including cutting back some seriously overgrown landscaping. But this is still a great price considering the size of the lot & home.

Foreclosures and Shortsales

Only 3 of the homes reported sold this past week were foreclosures.

None of the homes reported sold was a short sale.

Today there are 86 foreclosed homes for sale in Anderson County.

Inventory and Absorption Rate

Today there are 1441 homes for sale in Anderson County.

  If homes in Anderson County continue to sell at the same pace and no more homes hit the market, it will take 775 days to sell all the available homes.

New Listings

There were 36 new listings to hit the MLS this week in Anderson County.

  The best deal in my opinion of this week’s new listings in Anderson County is a 2500 SF 3 bedroom 2.5 bath home on 1.96 acres in Easley (Wren school district). It hit the market at $225,000.

Big house on a big lot at a great price. Great location convenient to Anderson, Greenville and Easley.

Looking Forward

18 homes were reported as going Under Contract (Pending) this week.

Currently there are 171 homes in the MLS with an Under Contract (Pending) status.

This is only the basics of what happened last week in Anderson County real estate. If you have questions about real estate in Upstate South Carolina, please Contact Me!

Originally Posted at Anderson County SC Real Estate Market Report 11-10-2013

Mark Brian

UGLYBUTHONEST.COM

 

search real estate listings in the Anderson SC area

 

real estate estate blog Upstate South Carolina
 

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What’s Happening 11-12-13

Check out that date: 11 12 13

I heard one of the morning news cats talking about how many people are getting married today since the date is unique. Next year will be your last chance to get a unique date like this on 12-13-14 for another century.

I wonder how many guys wanted a date like this so it would be easier to remember their anniversary?

Cold this morning and you may want to stay inside and read this week’s Market Snapshots:

Anderson County SC Real Estate Market Report 11-10-2013

Oconee County SC Real Estate Market Report 11-10-2013

Pickens County SC Real Estate Market Report 11-10-2013

 

Mark Brian

UGLYBUTHONEST.COM

 

search real estate listings in the Anderson SC area

 

real estate estate blog Upstate South Carolina
 

Upstate South Carolina Realtor in the Anderson SC are on Google Plus   Upstate South Carolina Realtor in the Anderson SC area on Facebook   Upstate South Carolina Realtor in Anderson SC are on Twitter