I know, it sounds cliche' and the term is often overused in the real estate industry. "Now is the best time to buy a home".
Well, if I am anything I am 100% honest with people. The most common compliment I receive from my clients is that I am a "straight shooter" with them.
Allow me to share my 100% honest and professional advice with you, regarding the Greenville, SC real estate market throughout 2011...
2011 is expected to be the "bottom" of our market. Will home values spring back and begin to appreciate wildly starting in 2012? Not necessarily. I think the most common question and concern I hear is "when will the bleeding stop?". In other words, "when will my home value stop depreciating?". I believe, the Q2 period of 2012, in Greenville, SC will reflect that "the bleeding has stopped", and possibly even mild appreciation in select neighborhoods/developments/subdivisions, etc. can be expected.
Conversely, 2011 is expected to yield a substantial number of short sales and bank owned, REO, foreclosure properties for sale throughout the Greater Greenville, SC region. This will continue to put downward pressure on tradtional, non-distressed resales and everyone's home values (whether you're selling or not).
By now we've all heard that "interest rates are at historically low levels!", and it almost comes across like another annoying commercial that interupts our favorite TV show. However, I have to say that my resources tend to agree that mortgage interest rates will in fact rise by late 2011 and into 2012.
When you combine this information (large volume of distressed homes for sale and low mortgage interest rates) and then contemplate whether or not 2011 is a good time to buy a home...it should be very obvious that 2011 could in fact represent the "perfect storm" for homebuyers looking to upgrade their home and lifestyle, while leveraging low mortgage interest rates into an affordable house payement for themselves!
How cool would that be? Upgrade into a nicer, larger home, and possibly even keep the house payment the same, or maybe even less than your current house payment? This absolutely can be accomplished in 2011, for a strategic home buyer...with the right help from a professional!
That's where I come in! I'll hunt for you and show you homes, and then educate you as per the differences in getting involved in buying a short sale, VS a bank-owned home/foreclosed home. Then, I'll negotiate aggressively on your behalf and consider all aspects, terms and options as part of the home buying process, so that the entire experience is tailored to meet your objectives effectively.
2011 is the "perfect storm" for any homebuyer in Greenville, SC looking to upgrade, increase their wealth, ensure a strong equity position at the closing table and leverage today's market conditions in their favor!
Call me today, and lets get started on your home search!
Kirk Westervelt
Realtor
Keller Williams Realty
Greenville, SC
(864) 451-2402
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