$10,000 PRICE ADJUSTMENT ON BEAUTIFUL VERNON HILL WITH BASEMENT

57154 Nightingale Way Indian Land, SC 29707 $410,000   UNDER CONTRACT    Residential  |  4 Beds  |  3 Full Baths  |  3287 Sq. Ft.  |  MLS# 3503118

A great new price on a lovely home! 

VIRTUAL TOUR For more information, click HERE.

4 Reasons to Sell This Summer

Infographic Courtesy of Keeping Current Matters/The KCM Blog

Some Highlights:

• Buyer demand continues to outpace the supply of homes for sale. This means that buyers are often competing with one another for the few listings that are available.
• Housing inventory is still under the 6-month supply needed to sustain a normal housing market.
• Now may be the time for you and your family to move on and start living the life you desire!

Why Is So Much Paperwork Required to Get a Mortgage?

Article Courtesy of Keeping Current Matters/The KCM Blog

When buying a home today, why is there so much paperwork mandated by the lenders for a mortgage loan application? It seems like they need to know everything about you. Furthermore, it requires three separate sources to validate each and every entry on the application form. Many buyers are being told by friends and family that the process was a hundred times easier when they bought their home ten to twenty years ago.

There are two very good reasons that the loan process is much more onerous on today’s buyer than perhaps any other time in history.

1. The government has set new guidelines that now demand that the bank proves beyond any doubt that you are indeed capable of paying the mortgage.
During the run-up to the housing crisis, many people ‘qualified’ for mortgages that they could never pay back. This led to millions of families losing their home. The government wants to make sure this can’t happen again.

2. The banks don’t want to be in the real estate business.
Over the last several years, banks were forced to take on the responsibility of liquidating millions of foreclosures and negotiating an additional million plus short sales. Just like the government, they don’t want more foreclosures. For that reason, they have to double (maybe even triple) check everything on the application.

However, there is some good news in this situation.

The housing crash that mandated that banks be extremely strict on paperwork requirements also allowed you to get a low mortgage interest rate.

The friends and family who bought homes ten or twenty years ago experienced a simpler mortgage application process, but also paid a higher interest rate (the average 30-year fixed rate mortgage was 8.12% in the 1990s and 6.29% in the 2000s).
If you went to the bank and offered to pay 7% instead of around 4%, they would probably bend over backward to make the process much easier.

Bottom Line

Instead of concentrating on the additional paperwork required, let’s be thankful that we are able to buy a home at historically low rates.

Top 4 Renovations for the Greatest Return on Investment! [INFOGRAPHIC]

Infographic and Highlights Courtesy of Keeping Current Matters/The KCM Blog

Some Highlights:

• If you are planning on listing your house for sale this year, these four home improvement projects will net you the most Return on Investment (ROI).
• Minor renovations can go a long way toward improving the quality of your everyday life and/or impressing potential buyers.
• Whether you plan to stay in your house for a long time or just a few years, it’s smart to know which home renovations add the most value.

2 Myths Holding Back Home Buyers

Article Courtesy of Keeping Current Matters / The KCM Blog

Freddie Mac recently released a report entitled, “Perceptions of Down Payment Consumer Research.” Their research revealed that,

“For many prospective homebuyers, saving for a down payment is the largest barrier to achieving the goal of homeownership. Part of the challenge for those planning to purchase a home is their perception of how much they will need to save for the down payment…
…Based on our recent survey of individuals planning to purchase a home in the next three years, nearly a third think they need to put more than 20% down.”

Myth #1: “I Need a 20% Down Payment”

Buyers often overestimate the funds needed to qualify for a home loan. According to the same report:
22% of renters and 31% of homeowners believe lenders require 20% or more of a home’s sale price as a down payment for a typical mortgage today. And,

“If a 20% down payment was required, 70% of those who were planning to buy a home in the next three years said it would delay them from purchasing and nearly 30% indicated they would never be able to afford a home.”  

While many believe at least 20% down is necessary to buy the home of their dreams, they do not realize programs are available which permit as little as 3%. Many renters may actually be able to enter the housing market sooner than they ever imagined!

Myth #2: “I Need a 780 FICO® Score or Higher to Buy”

Many either don’t know or are misinformed concerning the FICO® score necessary to qualify, believing a ‘good’ credit score is 780 or higher.
To debunk this myth, let’s take a look at Ellie Mae’s latest Origination Insight Report, which focuses on recently closed (approved) loans. 

As indicated in the chart above, 52.4% of approved mortgages had a credit score of 600-749.

Bottom Line

Whether buying your first home or moving up to your dream home, knowing your options will make the mortgage process easier. Your dream home may already be within your reach.

Should I Buy Now or Wait Until Next Year?

Infographic courtesy of Keeping Current Matters / The KCM Blog

 

Some Highlights:

• The “cost of waiting to buy” is defined as the additional funds necessary to buy a home if prices & interest rates were to increase over a period of time.
• Freddie Mac forecasts interest rates to rise to 4.5% by the Q4 2020.
• CoreLogic predicts home prices to appreciate by 4.8% over the next 12 months.
• If you are ready and willing to buy your dream home, find out if you are able to!

75th Anniversary of the D-Day Invasion

Just before the 70th anniversary of the D-Day invasion, I found a treasure stuck in my old college beer mug... don't know when I put it there or why I didn't treat it with greater honor, but as it began to crumble in my hands, I realized that I needed to do something to save it.  It's a well-worn calendar page that my father saved from June 6, 1944. My dad was a hard-working immigrant who spoke no English when he arrived in the United States in 1930. He loved his new country and was very proud to become an American citizen. Recognizing the historical significance of D-Day, he saved this calendar page with a note on the back that read: "The Day. Good Luck." This worn page now hangs on the wall in my office and each time I look at it, I feel like I'm honoring both those who lost their lives on that day and my father.

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In June 2014, an 11-year-old boy visited Normandy, France for the 70th anniversary of the D-Day invasion.  As part of the boy’s personal project, titled “Project Vigil,” he spent four days teaching visitors and tourists about three paratroopers who had been buried in the American Cemetery.  His parents taught him well!


Complete Article by Paul Morris / Littlethings.com

Teach Your children Well by Crosby, Stills, and Nash.

Ronald McDonald House - 5/31/19

Another meal served at Ronald McDonald House 

by a great group of SCCL residents!

So proud to call these folks my friends!

Louise Lowe, Bill Kelsey, Pook Bellini, Maria Sullivan, Syndie Fleener, Carol Stillerman, and Kathy McPherson

 

SCCL Market Update

May was a busy month in Sun City Carolina Lakes!

Photo Courtesy of Dan Peters

Single Family Residential (SFR)Homes

19 Went Under Contract

12 Closed

Carriage Homes & Villas

7 went Under Contract.

2 Closed

Please note that occasionally listing changes are not uploaded on MLS immediately.

A closing that occurred in May might not appear until June.

I always adjust for any changes as they come up.

Please use the "UP-TO-DATE STATS FOR SCCL" tab above
 to check for the latest information.

To view the interactive version of the graphs below, use the 'UP-T0-DATE STATS" tab above.

To view the interactive version of the graphs below, use the 'UP-T0-DATE STATS" tab above.

Multigenerational Homes Are on the Rise

Article Courtesy of Keeping Current Matters/The KCM Blog

As loved ones start to get older, we start to wonder: how long will they be able to live alone?  Will they need someone there to help them with daily life? There’s a reason to ask those questions now more than ever, as the average life expectancy in the U.S. is 78years old!  As a result, 41%of Americans in the market are searching for a home that can accommodate a multigenerational family.

The graph below shows the number of people by generation that purchased a multigenerational home because they will either be taking care of an aging parent or they just want to spend time together.

Of those buyers, 26% indicated they will be taking care of an aging parent, and 14% said they want to spend time with an aging parent. These numbers do not come as a surprise. According to Pew Research Center, 64 million Americans (20% of the population) lived in a multigenerational household in 2016 (Last numbers available).

An increasing number of studies affirm the benefits of being part of a multigenerational household. These benefits aren’t just for the grandchildren, but for the grandparents as well. According to these two resources:

The University of Oxford

“Children who are close to their grandparents have fewer emotional and behavioral problems and are better able to cope with traumatic life events, like a divorce or bullying at school”.

Boston College

“Researchers found that emotionally close ties between grandparents and adult grandchildren reduced depressive symptoms in both groups”.

This research gives helpful insight into why 41% of Americans are in the market to buy a multigenerational home.

Bottom Line

If you have a home that could accommodate a multigenerational family and are thinking about selling, now is the perfect time to put it on the market! The number of buyers looking for this type of home will only continue to increase.