HAPPY VALENTINE'S DAY

 

There is a light at the end of the tunnel!

 

Stay positive.

Stay safe.

Stay healthy.

Check Out the New Helen Adams Realty Mobile App!

 

I'm really excited to share the new Helen Adams Realty mobile app!  It has the most accurate, up-to-date MLS information and features great search options and filters, large photos, a mortgage calculator, and more. Use this link to download it to your tablet or mobile phone:  https://app.helenadamsrealty.com/czRp

Please feel free to share this link with friends or family, or, when you have the app opened, click on the three horizontal lines (sometimes called the hamburger) on the top left corner and click on "Invite to App." 

 

If you have and older version of this app, make sure it's updated on your device or delete it and use this new link.  Anyone without the link can go to the App Store or Google Play from their device and search "Helen Adams Realty." When setting up an account, please be sure to set me as your preferred agent from the "agent search" to make sure I'm always up to speed on your favorite searches and homes.

Remember, this great mobile app has many awesome features...

• Search by address, city, zip, school, mls #
• Map search, draw to search, list view, satellite view, and street/AR view aka "Home Scan"
• GPS/location search
• Filter by status (incl sold), type, beds, baths, price, sq ft, year built, parking, lot size, new this week, reduced this week, open houses
• Search based on set POIs/commute times
• Mortgage calculator
• View property detail pages, including photos, MLS description, virtual tour links, interior/exterior features, history, Mortgage calculator, neighborhood details including walk score, directions, nearby attractions, commute time, school information

I would love to get your feedback about this app.  Please let me know if you are experiencing any downloading issues.   I understand that some folks are running into problems when downloading the app to an iPad.  The company that services the app for HAR has their engineers working on it.  As far as I know, there are no problems downloading to iPhones.  If you are having a problem downloading the app to your device, please let me know.

 

Also, remember, I can always set up an auto-email to provide you with regular email updates on your favorite search.  Just contact me and I'll set that up!

 

JANUARY - END OF MONTH UPDATE

2/1/21

UPDATE

We have hit an all-time low for ACTIVE Single Family Residence listings!

There are currently only 5 ACTIVE SFR listings!

If you've been following sales here in SCCL, you likely know how crazy the market has been in recent months.  Today, we are at an all-time low for ACTIVE single family residence (SFR) listings.  One year ago, there were 34 ACTIVE SFRs... today there are 6 (4 River Homes and 2 Summit Homes, with no Manor Homes available).  This month, 13 SFRs went UNDER CONTRACT and 15 CLOSED.  There are currently only 2 ACTIVE Carriage Home/Villa listings, with 2 having gone UNDER CONTRACT and 2 having CLOSED this month.

Things look quite similar to when I posted my  JANUARY MID-MONTH UPDATE, though numbers changed as new ACTIVE listings came on the market and others went UNDER CONTRACT. 

STATS FOR JANUARY can also be found using the UP-TO-DATE STATS FOR SCCL tab above, which gets updated regularly.

CURRENTLY ACTIVE/UNDER CONTRACT/SOLD YTD properties can be found using the tab above.

Information about specific properties can be found using the PROPERTY SEARCH tab above.

Contact me if you'd like to receive property updates by email.

 

 

     JANUARY - DAYS ON MARKET

 DAYS ON MARKET (DOM) / CUMULATIVE DAYS ON MARKET (CDOM)

CDOM includes DOM for a previous listing of the same property.

 

Carriage Homes and Villas

 

If you missed my summary for 2020 SCCL activity, please be sure to check it out here: 

End of Year Summary

 

With inventory down, we are currently in a Seller's market.

If you have been thinking about making a move,

now might be the perfect time to put your home on the market.

Give me a call, if you'd like to discuss your plans.

Financial Fundamentals for Homebuyers [INFOGRAPHIC]

 Infographic Courtesy of Keeping Current Matters/The KCM Blog

Some Highlights

• When you’re thinking about buying a home, there are a few key steps to take before you even start to look at houses.
• From saving for your down payment to getting pre-approved for a mortgage, you’ll want to make sure you keep your financial plan on track from the beginning.
• Reach out to a local real estate professional and a trusted lender today to make sure you have the best possible guidance as you begin your homebuying process.

5 Tips for Homebuyers Who Want to Make a Competitive Offer

Article Courtesy of Keeping Current Matters/The KCM Blog

Today’s real estate market has high buyer interest and low housing inventory. With so many buyers competing for a limited number of homes, it’s more important than ever to know the ins and outs of making a confident and competitive offer. Here are five keys to success for this important stage in the homebuying process.

1. Listen to Your Real Estate Agent

A recent article from Freddie Mac offers guidance on making an offer on a home in today’s market. Right off the bat, it points out how emotional this can be for buyers and why trusted professionals can help you stay focused on the most important things:

“Remember to let your homebuying team guide you on your journey, not your emotions. Their support and expertise will keep you from compromising on your must-haves and future financial stability.”

Your real estate professional should be your primary source for answers to the questions you have when you’re ready to make an offer.

2. Understand Your Finances

Having a complete understanding of your budget and how much house you can afford is essential. The best way to know this is to reach out to your lender to get pre-approved for a loan early in the homebuying process. Only 44% of today’s prospective homebuyers are planning to apply for pre-approval, so be sure to take this step so you stand out from the crowd. It shows sellers you’re a serious, qualified buyer and can give you a competitive edge if you enter a bidding war.

3. Be Ready to Move Quickly

According to the Realtors Confidence Index, published monthly by the National Association of Realtors (NAR), the average property being sold today is receiving more than three offers and is only on the market for a few weeks. These are both results of today’s competitive market, showing how important it is to stay agile and vigilant in your search. As soon as you find the right home for your needs, be prepared to work with your agent to submit an offer as quickly as possible.

4. Make a Fair Offer

It’s only natural to want the best deal you can get on a home. However, Freddie Mac also warns that submitting an offer that’s too low can lead sellers to doubt how serious you are as a buyer. Don’t submit an offer that will be tossed out as soon as it’s received. The expertise your agent brings to this part of the process will help you stay competitive:

“Your agent will work with you to make an informed offer based on the market value of the home, the condition of the home and recent home sale prices in the area.”

5. Be a Flexible Negotiator

After submitting an offer, the seller may accept it, reject it, or counter it with their own changes. In a competitive market, it’s important to stay nimble throughout the negotiation process. Your position can be strengthened with an offer that includes flexible move-in dates, a higher price, or minimal contingencies (conditions you set that the seller must meet for the purchase to be finalized). There are, however, certain contingencies you don’t want to forego. Freddie Mac explains:

“Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you can’t afford to fix.”

Bottom Line

Today’s competitive market makes it more important than ever to make a strong offer on a home, and a trusted expert can help you rise to the top along the way.

JANUARY MID-MONTH UPDATE

It's hard to believe we are already just past the halfway point for January... but here we are, with an astonishingly low inventory of 6 ACTIVE Single Family Residence (SFR) listings and 1 ACTIVE Villa listing.  Activity has been strong with 11 SFR homes and 2 Villas going under contract.

 

 DAYS ON MARKET (DOM) / CUMULATIVE DAYS ON MARKET (CDOM)

CDOM includes DOM for a previous listing of the same property.

 

Single Family Residences

 

Villas and Carriage Homes

 

END OF DECEMBER STATS

Interactive versions of these and additional graphs 

can be found under the UP-TO-DATE STATS FOR SCCL tab above.

 

MONTHS SUPPLY

 Months of supply is the measure of how many months it would take for the current inventory of homes on the market to sell, given the current pace of home sales. For example, if there are 50 homes on the market and 10 homes selling each month, there is a 5 month supply of homes for sale. 

• Less than 6 months of inventory = Seller's Market with upward pressure on prices
• More than 6 months of inventory = Buyer's Market with downward pressure on prices.

Single Family Residences

Villas and Carriage Homes

 

AVERAGE DAYS ON MARKET

 

Single Family Residences

Villas and Carriage Homes

 

AVERAGE PERCENT OF ORIGINAL LIST PRICE

Single Family Residences

Villas and Carriage Homes

 

 Current stats can always be accessed using the tab at the top of the page.

Things to Avoid after Applying for a Mortgage [INFOGRAPHIC]

 Infographic Courtesy of Keeping Current Matters/The KCM Blog

 

Some Highlights

• There are a few key things to make sure you avoid after applying for a mortgage to help make sure you still qualify for your loan at the closing table.
• Along the way, be sure to discuss any changes in income, assets, or credit with your lender, so you don’t unintentionally jeopardize your application.
• The best plan is to fully disclose your intentions with your lender before you do anything financial in nature.

Why Right Now May Be the Time to Sell Your House

 Article Courtesy of Keeping Current Matters/The KCM Blog

The housing market made an incredible recovery in 2020 and is now positioned for an even stronger year in 2021. Record-low mortgage interest rates are a driving factor in this continued momentum, with average rates hovering at historic all-time lows.

According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR), buyer demand across the country is incredibly strong. That’s not the case, however, on the supply side. Seller traffic is simply not keeping up. Here’s a breakdown by state:

 

As the maps show, buyer traffic is high, but seller traffic is low. With so few homes for sale right now, record-low inventory is creating a mismatch between supply and demand.

NAR also just reported that the actual number of homes currently for sale stands at 1.28 million, down 22% from one year ago (1.64 million). Additionally, inventory is at an all-time low with 2.3 months supply available at the current sales pace. In a normal market, that number would be 6.0 months of inventory – significantly higher than it is today.

What does this mean for buyers and sellers?

Buyers need to remain patient in the search process. At the same time, they must be ready to act immediately once they find the right home since bidding wars are more common when so few houses are available for sale.

Sellers may not want to wait until spring to put their houses on the market, though. With such high buyer demand and such a low supply, now is the perfect time to sell a house on optimal terms.

Bottom Line

The real estate market is entering the year like a lion. There’s no indication it will lose that roar, assuming inventory continues to come to market.

 

SC COVID-19 Vaccine Update

Be sure to read about two different options below.

MUSC (Medical University of South Carolina)

COVID-19 VACCINATION UPDATE

Governor Henry McMaster and the South Carolina Department of Health and Environmental Control (SCDHEC) have announced that beginning Wednesday, Jan. 13, South Carolina residents age 70 or older, regardless of health status or preexisting conditions, can schedule appointments to receive the COVID-19 vaccine. South Carolina residents who qualify for a vaccine at this time will be asked to sign an attestation that they meet eligibility requirements established by DHEC and may be asked to provide a driver’s license or some other form of ID at time of appointment to confirm eligibility. 

Eligible citizens should visit https://muschealth.org/vaccine-1a to make an appointment. 

The community is encouraged to monitor muschealth.org for COVID-19 vaccination updates. MUSC Health is aligned with CDC and SCDHEC recommendations for distribution of COVID-19 vaccines.

All individuals in Phase 1a will need to sign an attestation to their vaccine status and may need to present credentials/proof to verify they qualify to receive vaccination.  Patients who will not attest to their status or who are not able to present credentials (e.g., driver’s license for the 70+ group or employer badge, medical license, picture of license, or other proof for Phase 1a group) will not be vaccinated and asked to return with proof at their earliest convenience.  

As supply becomes more readily available, MUSC Health will next offer the Pfizer vaccine to community essential workers in early 2021. The community is encouraged to monitor muschealth.org for COVID-19 vaccine availability criteria, updates and FAQs. 

ATRIUM HEALTH

Who’s eligible for the COVID-19 vaccine

Updated January 14

Following state guidelines, we’re now offering the COVID-19 vaccine to:

• Everyone ages 65 and older
• Healthcare workers with in-person patient contact
• Long-term care staff and residents

Atrium Health is now giving the vaccine to Atrium Health patients 65 and over. Use this link to schedule an appointment.  

 

Due to high demand, appointments for the event at Charlotte Motor Speedway are full. This event is by appointment only, and we will not be able to accommodate walk-ins during those days. Please check back soon for more vaccination events or schedule at another location via MyAtriumHealth.

Stay positive, everybody! There is a light at the end of the tunnel!

Is This the Year to Sell My House?

Article Courtesy of Keeping Current Matters/The KCM Blog

If one of the questions you’re asking yourself is, “Should I sell my house this year?” consumer sentiment about selling today should boost your confidence in the right direction. Even with the current health crisis that continues to challenge our nation, Americans still feel good about selling a house. Here’s why.

According to the latest Home Purchase Sentiment Index from Fannie Mae, 57% of consumer respondents to their survey indicate now is a good time to buy a home, while 59% feel it’s a good time to sell one:

“The percentage of respondents who say it is a good time to sell a home remained the same at 59%, while the percentage who say it’s a bad time to sell decreased from 35% to 33%. As a result, the net share of those who say it is a good time to sell increased 2 percentage points month over month.”

As you can see, many still believe that, despite everything going on in the world, it is still a good time to sell a house.

Why is now a good time to sell?

There simply are not enough homes available to meet today’s buyer demand, and they’re selling just as quickly as they’re coming to the market. According to the National Association of Realtors (NAR), unsold inventory available today sits at a 2.3-month supply at the current sales pace, which is down from a 2.5-month supply from the previous month. This record-low inventory is not even half of what we need for a normal or neutral housing market, which should have a 6.0-month supply of unsold inventory to balance out.

With so few homes available for buyers to choose from, we’re in a true sellers’ market. Homeowners ready to make a move right now have the opportunity to negotiate the best possible contracts with buyers who are feeling the pull of intense competition when it comes to finding their dream home. Lawrence Yun, Chief Economist for NAR, notes how quickly homes are selling right now, further confirming the benefits to sellers this season:

“The market is incredibly swift this winter with the listed homes going under contract on average at less than a month due to a backlog of buyers wanting to take advantage of record-low mortgage rates.”

However, this sweet spot for sellers won’t last forever. As more homes are listed this year, this tip toward sellers may start to wane. According to Danielle Hale, Chief Economist at realtor.com, more choices for buyers are on the not-too-distant horizon:

“The bright spot for buyers is that more homes are likely to become available in the last six months of 2021. That should give folks more options to choose from and take away some of their urgency. With a larger selection, buyers may not be forced to make a decision in mere hours and will have more time to make up their minds.”

Bottom Line

If you’re ready to make a move, you can feel good about the current sentiment in the market and the advantageous conditions for today’s sellers. Contact a local real estate professional today to determine the best next step when it comes to selling your house this year.