MARKET RESEARCH
Change Always Affords Opportunity
A slowing sellers’ market means a rising buyers’ market, and there are plenty of options out there for folks who are looking for a new place to call home.
The Glass is Half Full!
According to a recent realtytimes.com article, 2007 is expected to be the fifth highest year on record for existing-home sales, with one out of 16 households buying a home this year—good news for buyers and sellers alike. Though sales are slowing overall, some markets, like Austin, the South Carolina Lowcountry, the mountains of North Carolina and the Triangle area, are thriving. And though interest rates are higher than they have been in recent years, at six percent they are still at historic lows.
News that may Surprise You
The National Association of Realtors predicts that, in 2008, existing-home prices will rise 1.3 percent and new home prices will rise 1.0 percent. Also, mortgage rates have remained attractively low.
Contrarian Home Buyers
Contrary to popular belief, this can be a great time to get in on the home-buying action—but what’s the down-and-dirty about purchasing a home in today’s market? Sellers aren’t fools. They know that, in a buyers’ market, prospective homeowners have a wide variety of properties to choose from and a comfortable amount of time in which to consider their options. In an effort to motivate buyers, today’s sellers are paying for closing costs and including a variety of other incentives in their purchase packages—a great option for buyers who don’t have a lot of money to put down up front.
Advice from the Pros
Livesouth.com spoke with Scott Keegan, the Executive Director of NAMP (National Association of Mortgage Professionals), to see what he recommends. Here’s what he thinks you should know:
- Mortgage financing is still available to average borrows. Some of the underwriting requirements, such as the ability to repay the debt, have been tightened, but funds are still available.
- Fixed rate as well as ARMs are quite viable as mortgage loans. Many borrowers prefer fixed rates and depending on the borrower’s situation (i.e. income, cash reserves, cash flow, etc.), ARMs can be very useful.
- Contrary to popular perceptions, many fees and costs have come down. Loans that qualify for Fannie Mae or Freddie Mac financing have become very competitive. The tighter restrictions are on Jumbo Loans (those above Fannie Mae limits).
The National Association of Mortgage Professionals is a trade association that helps promote the policies that make mortgage lending a national priority. Visit www.namp.org for more information.
GETAWAY SPECIAL –
Brunswick Plantation
Fall Discovery Package...
For a limited time accommodations are only $35 a night, up to four nights. A real estate presentation is required and both husband and wife (if married) must attend. For further details and restrictions, call 1-800-835-4533 Ext. 6928. You can also email us at sales@brunswickplantation.com or go to our website www.brunswickplantation.com, click on Real Estate, then click on Preview Package. While on the website, take a look at our Kindred Spirit BLOG for a snapshot of what current homeowners are doing.
CHECK IT OUT —
Lake Keowee is the Place to Be
Ask most people to name South Carolina’s top destinations, and they’ll have a lot to say: Myrtle Beach, Charleston, Kiawah and, of course, the Lowcountry, which includes Hilton Head Island. Only those in the know will mention the Upcountry, one of South Carolina’s best-kept secrets. Nestled in the foothills of northwestern SC’s Blue Ridge Mountains, the Upcountry is home to stunning waterfalls, gorgeous forests, the Cherokee Foothills Scenic Highway, and beautiful lakes and rivers, including the singular Lake Keowee.
The Location
In the language of the Lower Cherokee Nation, ‘Keowee’ means Place of the Mulberries—a lovely name for an equally lovely location. With over 18,000 acres of water and a 300-mile shoreline, Lake Keowee is one of the cleanest lakes in the eastern United States. Surrounded by dense forests and sheltered by the slopes of the Blue Ridge, the lake offers a secluded wilderness haven just 20 minutes from the college town of Clemson, 45 minutes from the burgeoning city of Greenville, SC, 90 minutes from the bustling metropolis of Atlanta, and two hours from Charlotte, NC.
The Activities
Is your idea of fun a day excursion spent antiquing, exploring galleries or relaxing at a mountainside spa? Visit nearby Highlands, Cashiers or the Sapphire Valley. Are you a fan of the great outdoors? Go rafting on the Chattanooga River or plan an adventure at one of the area’s many state parks. In pursuit of top-notch quality of life and an excellent education for your children? Relocate-America just named nearby Seneca, SC “One of America’s Top 100 Places to Live.”
The Communities
If you want to call Lake Keowee home, you’re not alone. The secret’s out, and amenity communities are springing up all around the sparkling waters of this man-made lake, a mecca for outdoor enthusiasts and homebodies alike.
Crescent Communities at Lake Keowee
Crescent Communities offers a range of options at Lake Keowee-from cozy neighborhoods to larger amenity communities. With just 39 homesites, Harbor Oaks boasts gorgeous lake vistas and views of the majestic Blue Ridge Mountains. Hidden Harbor is an intimate community with only 11 home sites, tucked away in one of the lake's deep-water coves. Waterford Pointe and Waterside Crossing are family-oriented communities whose residents enjoy first-class tennis centers and trail networks, as well as competition-size swimming pools.
Stoneledge at Lake Keowee
Stoneledge at Lake Keowee offers you a rare opportunity to own a luxury waterfront townhome. With private boat slips right outside your front door, these maintenance-free residences give you the time to indulge in all the pleasures of lakeside living. Lakefront townhomes are available from the upper $300s to the lower $700s. Residents at Stoneledge can enjoy private boat slips and scenic walking trails, as well as a spacious clubhouse, tennis court, swimming pool, fitness center and boat storage.
The Legacy Club at Lake Keowee
The Legacy Club at Lake Keowee, South Carolina's exclusive destination resort community, invites you to discover residence club ownership. Vacation at your private luxury mountain retreat, with nearly ½-mile of frontage on Lake Keowee's 300+ miles of lakeshore. Revel in the stunning vistas visible from your two-story lakefront home with private boat & dock, or from your fractional lake-view residence. Enjoy convenient access to world-class dining, golf, boating, marina, spa services and more. Carefree living from $110k+ for 4 weeks of deeded ownership.
