Expert Real Estate Team: Your Trusted Source for Up-to-Date Real Estate Knowledge

Let's get real. Do you have to use a real estate agent when buying or selling a home? 

The answer, of course, is no. You can absolutely do it alone, and there are people who opt to do so every year. 

After all, with the internet at your fingertips, you can search for homes, look up property values, and even negotiate deals on your own. 

Yet, even with all that info, 89% of people choose to work with a professional, according to a report from the National Association of Realtors (NAR). 

There's been a lot of attention on real estate industry changes lately. But today, I want to go back to the basics and discuss the difference between a buyer's agent and a seller's agent—and what each can do for you during your real estate transaction. 

Buyer's Agents

Sites like Zillow can help you find your dream home by browsing listings online, and they even alert you to open house schedules. These sites can also connect you with a local real estate professional if you are not already working with one. 

A buyer's agent goes beyond the vast amount of information online and acts as your personal guide throughout the entire home buying process. Think of them as your real estate advocate, someone who is entirely focused on your needs and interests. 

Realtor.com compiled 111 things buyer's agents do throughout the real estate transaction, but here, we'll just focus on some of the key elements of their work: 

Finding the Perfect Home

Like I noted above, you can search for homes online, but can you really spot the difference between a house that's priced to sell and one that's hiding a laundry list of issues? 

According to the 2023 Profile of Home Buyers and Sellers, 89% of buyers used an agent to purchase their home, with 50% citing that the most valuable service was helping them find the right property. Your agent will use their knowledge of the local market to help you find properties that match your criteria. They'll schedule showings, provide insights, and help you weigh the pros and cons of each home. 

Negotiating Price and Terms 

You might think you can haggle your way to a better deal, but without an agent, you're missing out on the subtle art of negotiation. Keep in mind that negotiations can happen at different points throughout the transaction, such as getting an offer accepted and after inspection and appraisals are complete. 

The NAR report highlights that agents are essential in negotiating better contract terms and handling the complexities of the sale. A good buyer's agent knows how to sweeten the deal in ways you might not even consider — like securing repairs or getting the seller to cover closing costs. 

Navigating Paperwork

The paperwork involved in buying a home can be a maze of legalese. This can be overwhelming for many. That's why 90% of buyers found their agent to be a useful information source throughout the process, ensuring every "i" is dotted and every "t" is crossed. 

Seller's Agents

On the other side of the deal, a selelr's agent (also known as a listing agent) is dedicated to helping homeowners sell their property quickly and at the best price possible. They're the ones who market your home, negotiate with buyers and handle the logistics of the sale. 

Let's take a look at some of the key responsibilities of a listing agent. 

Pricing the Home Correctly 

Pricing your home is part data and part art. Get it wrong, and you could scare off buyers or leave money on the table. The right price attracts serious buyers and maximizes your profit. 

Over the past few years, properties were flying off the market in a matter of days. Yet, even then, for sale by owner (FSBO) homes sold for significantly less than agent-assisted homes. In 2022, FSBOs sold for a median price of $310,000 compared to a median price $405,000 of agent-assisted homes, according to NAR. 

Seller's agents use data, experience, and market insight to price your home strategically — something an online calculator just can't replicate. 

Marketing the Property

A seller's agent will create a comprehensive marketing plan to showcase your home to attract serious buyers, not just window shoppers. This includes professional photos, videos, an online social plan, open houses, and sometimes even staging the home to make it more appealing to buyers. 

Interested in learning about our marketing plan? Contact me at 864-380-5590. 

Handling Offers and Negotiations

Without an agent, you're the one fielding offers, counter-offers, and everything in between. It sounds empowering until you're faced with a buyer who's playing hardball. That's why 87% of sellers said they would definitely or probably recommend their agent for future services. A seller's agent handles the back-and-forth, ensuring you don't cave under pressure or get taken for a ride. 

In addition, they manage the entire sale process beyong getting an offer accepted — from coordination of inspectors and appraisers to getting to the closing table on time. 

Final Thoughts

It's tempting to think you can save money on commissions without an agent. But when buying or selling a property, the stakes are high. A skilled real estate agent isn't just another expense; they bring a level of expertise and market knowledge that can save you time, stress, and money. 

And that's an investment that can make all the difference. 

A little backstory:

Back in March, the National Association of Realtors (NAR) agreed to settlement deal. The organization agreed to both a monetary settlement as well as real estate practice changes aimed at providing more transparency regarding how real estate agents are paid. 

But how exactly does that change things for you? There are two main differences you may be hearing about:

1. Offers of compensation for buyer brokers or buyer agents can no longer be made on the Multiple Listing Service (MLS). 

2. Real estate agents must enter into a written agreement with a homebuyer before giving them a tour of a property.

Headlines might make these changes seem overwhelming. And while some of the paperwork is new, the reality is that the majority of professionals in the industry will continue to provide the same service they always have. 

To help you get a better understanding of what this means for you, here are six key things home buyers and sellers should know about the changes going into effect on August 17, 2024. 

What Changes Mean for Homebuyers

Homebuyer Agreements

Your real estate agent needs to have a written agreement signed before they can show you homes. This doesn't mean you are locked in for life—some agreements can be for one property, some for one week, and some for a longer period of time. 

Be sure to ask about the different options available when interviewing buyer agents, and make sure you understand exactly what services are included. 

Know What You're Paying For

This agreement will clearly outline your agent's compensation. If the agreement is not specific, or if you have questions, ask for clarification (and get it in writing) before signing anything. 

And, just like before, agent fees are negotiable. This settlement doesn't change that. 

Seller Deals Still Exist

Sellers can still offer to cover some of your closing costs, and even the buyer agent fees, as an incentive. 

While you won't see the seller's offer to buyer agents on the MLS listings anymore, that doesn't mean they're gone. Your agent can find out if the seller is offering buyer agent compensation (or negotiate for it, should you decide to make an offer on a property). 

What Changes Mean for Homesellers

The Power of Choice

You're still in control! You can decide if you want to offer compensation to buyer brokers. When interviewing your listing agent, ask about the pros and cons of offering buyer agent compensation to help you determine what the best option if for your situation. 

Transparent Terms

Your listing agent must obtain your approval before making any offer of payment to buyer brokers. If you choose to offer compensation, the terms must be transparent and made in writing — inclluding how much and how it will be paid. 

MLS Dos and Don'ts

As a seller, you can no longer put offers of buyer broker compensation on the MLS. (This must happen off MLS.) However, you can still offer buyer concessions on the MLS, like buyer closing costs. 

Final Thoughts

These changes are designed to make the process of agent compensation when buying or selling a home more transparent. That being said, there are going to be different options available, so it's important you take the time to understand them all. By working with a knowledgeable real estate agent, you can ensure that your home buying or selling experience is positive and successful.

For more information about these changes, visit facts.realtor or schedule a discovery session with me at leanne@leannecarswell.com

A headline caught my eye this week. It read:

"The Housing Market Isn't Making Sense. What's Going On."

It got me thinking about how much information is circulating out there. Numbers are flying around about inventory increases and price reductions (promising news for buyers) — and at the same time, there are also stats about record-high home prices (every seller's dream). 

When I first sat down to write this, I planned to dispel some misinformation and explain what all those numbers really mean. Then it hit me — the headlines and reports you are seeing all reference housing market stats nationwide. And when buying or selling real estate, the most important data is hyperlocal. 

So, let's take a look at what happened in the July2024 housing market in Greenville, SC.

Greenville SC Housing Market Report through July 2024

Single-Family Homes: Data at a Glance

Median Sale Price: $315,000

Average Days on Market: 47

Months of Inventory: 3.3

Active Listings: 4,114

Sold Listings: 9,590

List-to-Sale Price Ratio: 94%

Single-Family Homes: Market Highlights

The housing market in Greenville, SC is showing some interesting trends that are important for both potential homebuyers and current homeowners to understand. Here's a breakdown of what the latest statistics mean:

For Homebuyers:

Median Sale Price: The median sale price for homes in Greenville is currently $315,000. This figure gives you an idea of what a typical home costs in the area. If you're considering buying, this is a key number to keep in mind when budgeting for your new home. 

Average Days on Market: Homes are staying on the market for an average of 47 days. This means houses are selling relatively quickly, suggesting a healthy demand in the area. If you're a buyer, you might need to act fast when you find a home you love. 

List-to-Sale Price Ratio: Homes are selling for about 94% of their listing price. This indicates that there is some room for negotiation, but not much. You can expect to pay close to the asking price in most cases.

For Homeowners:

Months of Inventory: With 3.3 months of inventory, the market is relativeley balanced but leans slightly towards being a seller's market. A balanced market typically has about six months of inventory, so this suggests that sellers might have a slight advantage. 

Active Inventory: There are 4,114 active listings in Greenville, providing a variety of options for buyers. However, if you're selling, this number also means you have competition, so presenting your home well is crucial. 

Sold Listings: Over the past period, 9,590 homes have been sold. This high number of transactions points to a vibrant and active market, which is good news for both buyers and sellers. 

Overall Outlook:

The Greenville housing market is active and competitive, with homes selling relatively quickly and close to their asking prices. For buyers, this means being prepared to make decisions swiftly and having a clean understanding of your budget. For sellers, the market conditions are favorable, but it's important to prive your home competitively and ensure it stands out among the available inventory. The overall outlook suggests continued demand and a stable market environment, making it a good time to engage in real estate transactions whether you're buying or selling. 

The housing market may seem confusing right now, but with the right information and a focus on local data, you can navigate it confidently. For an even more personalized data report for your home or neighborhood, email me at leanne@leannecarswell.com

A recent study by Fannie Mae revealed a suprising lack of confidence among consumer about the mortgage process. 

There's good reason to feel a little cautious. Here in Greenville, SC home prices have risen 62% since 2020, and mortgage rates have also climbed. However, homeownership remains a top priority for most, with many considering it a sound long-term investment. 

All of this can lead to feeling overwhelmed and unsure of your ability to qualify for a home loan. The good news is there are options available—options you may not even be aware of.

So today, we'll discuss some different mortgage resources available here in Greenville, SC. 

Challenges When Navigating the Mortgage Process

Fannie Mae's study found that many consumers are unaware of important aspects of the mortgage process, which creates additional hurdles. 

Here are the top three challenges consumers face due to knowledge gaps:

Lack of Confidence: Less than half (45%) of consumers would feel confident going through the mortgage process. That number drops to 38% for those who are actively home shopping.

Overestimating Minimum Down Payment: 90% of consumers either don't know or overestimate the minimum down payment required for a typical mortgage. 

Misestimating Minimum Credit Score: Only 32% of consumers know the approximate minimum credit score required by mortgage lenders (the FICO minimum score required is 620). The remaining either overestimate or underestimate this number. 

The study also found that just 32% are "somewhat" or "very familiar" with low down-payment programs, and 40% are aware of mortgage counseling services available. 

To make sure that you have all the information you need, keep reading for mortgage resources available here in Greenville, SC. 

Mortgage Resources in Greenville, SC

Low Down Payment Assistance Programs 

You may know that a 20% down payment isn't required, but how low can you go? In some cases, as low as 0-3% down. Here are some programs available in Greenville, SC:

SC State Housing: 8k grant for 15 years. Rates are at 6.25% today so they are better. 

Chenoa Fund: 3.5% grant. Once you pay 36 consecutive payments without being late, the grant is forgiven. 

Mortgage Education Services

Housing counseling or mortgage counseling and education services are also available to help you prepare your finances and get ready for the costs of home ownership. Depending on the type of loan that best suits your needs, a 1-hour course is required as part of the loan process. 

Professional Lenders

Reading about these programs and services online is one thing, but I always recommend speaking with a knowledgeable, trusted professional to gain a deeper understanding of all the resources available to you. 

Remember, the key to a successful home buying experience is knowledge and preparation. By getting the right support system in place, you can turn your dream of homeownership into a reality.

Now, more than ever, having the right home insurance is essential. 

But with rates on the rise, how do you ensure you're getting the best coverage without breaking the bank? Let's explore the ins and outs of home insurance and uncover some strategies to secure the best deal for your home in the Upstate SC. 

Understanding the Rising Costs of Home Insurance

Since 2019, home insurance rates have surged by 37.8% across the United States. Several factors contribute to this rise:

• Inflation and Home Prices: As home prices increase, so does the cost to insure them. Inflation has also driven up the cost of building materials, making repair more expensive. 
• Natural Disasters: Climate change has led to more frequent and severe natural disasters, resulting in higher claims and, consequently, higher premiums. 
• Insurance Company Costs: Insurance companies are facing higher costs to repair homes and are passing these costs onto consumers. 

In South Carolina, home insurance rates are following the national trend. South Carolina has had a 6.9% increase in rates since 2019. While this is news no one wants to hear, there are things you can do to secure a lower rate. Let's take a look.

How to Find the Best Home Insurance Rates

Shop Around and Compare Quotes

Just like you wouldn't buy a house without looking at a few options, don't settle for the first home insurance quote you get. Compare quotes from multiple providers to see who offers the best rates for the coverage you need. I can help connect you with vetted home insurance representatives in Greenville and Spartanburg counties of SC. 

Bundle Your Policies

Many insurance companies offer discounts if you bundle your home insurance with other policies, such as auto insurance. This can lead to significant savings and simplify your insurance management. 

Improve Your Home's Security

Insurance companies often provide discounts for homes with enhanced security features. Installing alarm systems, smoke detectors, and dead bolt locks can reduce your premium. Some insurers even offer discounts for eco-friendly home upgrades. 

Increase Your Deductible

Opting for a higher deductible can lower your monthly premium. However, ensure you choose a deductible that you can afford in case you need to make a claim. 

Make Strategic Home Improvements

Insurance companies look at the age and condition of your property—and pay close attention to exterior features like the roof, windows, and doors. These renovations can help you lower your home insurance rates. Adding features like storm shutters or upgrading electrical systems can also make a difference. 

Maintain a Good Credit Score

In many states, insurance companies use your credit score to determine your premium. A higher credit score can result in lower rates. Make sure to pay bills on time, reduce debt, and monitor your credit report for any errors. 

Review Your Coverage Annually 

Your insurance needs may change over time, so it's essential to review your coverage annually. Ensure that your policy still meets your needs and that you're not paying for unnecessary coverage. 

Securing the best home insurance at the best price requries a bit of research and strategic planning. By understanding the factors driving up insurance costs and taking proactive steps to reduce your premium, you can protect your home without overspending. Remember to review your policy regularly and stay informed about changes in the insurance landscape. Your home is one of your most valuable assets—make sure it's adequately protected. 

For a list of our preferred insurance providers, reach out to us at Expert Real Estate Team 864.895.9791.

Lately, there's been a lot of buzz about what's next for home prices, especially with 2024 shifting gears in some markets. Here in Greenville SC, we have seen a 6.7% increase in sales from May 2023 and May 2024 and an increase in prices 3.3% during the same time. 

But what about the future of the market? Listen, no one has a crystall ball, but experts have released early predictions for home prices in 2025. Let's dive in.

The Big Picture: National Home Price Predictions for 2025

It's hard to believe 2024 is halfway over! Looking ahead to 2025, experts predict a slowdown in the national housing market's breakneck pace. Now, that doesn't mean prices are plummeting. In fact, the average forecast anticipates a +2.5% increase in national home prices for 2025. That would mark the 13th consecutive year of home price growth. 

Home projections vary among major groups, with predictions running from 0.3% increase to 4.4%. 

• Goldman Sachs: +4.4% growth in home prices in 2025
• Wells Fargo: +4.3%
• Mortgage Bankers Association: 3.3%
• Morgan Stanley: 3.0%
• Zelman & Associates: 2.3%
• Fannie Mae: 1.5%
• Freddie Mac: 0.5%
• Moody's Analytics: 0.3%

It's Not a One-Size-Fits-All Picture

While national trends provide a useful overview, real estate is inherently local. Greenville, SC might not follow the national average. Local factors such as the labor market, inventory levels, and specific regional economic conditions will play a significant role in shaping the housing market here. 

For instance, areas with strong job growth and limited housing supply may continue to see higher price appreciation, while other regions may experience more modest gains or even slight declines. 

Some of the key factors we watch every month include:

• Inventory levels
• Interest rates
• Average days on the market
• Median sale prices
• List-to-sale price ratio

If you want to be updated on the local market data, reach out to one of the great Expert Real Estate Team agents. 

Navigating the real estate market in Greenville, SC in 2025 requires a blend of national insights and local expertise. By understanding the broader trends and keeping an eye on local market dynamics, you can make informed decisions whether you're buying or selling a home. Stay tuned for more updates and feel free to reach out with any questions or for personalized advise on your real estate journey.

You may have noticed an uptick in construction and newly built homes. But it's not just a trend we're seeing here in Greenville, SC. In fact nationally, about one-third of single-family homes for sale today are newly constructed, a dramatic increase from pre-pandemic levels. 

Let's dive into why new construction homes are dominating the market and what you should keep in mind if you're thinking about buying one. 

The Rise of New Construction Homes

Since 2019, the landscape of the real estate market has shifted significantly. Remote work, low mortgage rates, and increased demand for homes prompted builders to ramp up construction. 

Even as demand has slightly cooled and mortgage rates have risen, new builds continue to play a crucial role in the housing market. Nationally, newly built homes made up 33.4% of the market in Q1 2024 according to Redfin—a trend that's holding steady. 

Why New Construction Homes Are in High Demand

Limited Supply of Existing Homes

Builders are constructing about 1 million single-family homes a year. At the same time, many homeowners are reluctant to sell their existing homes due, in part, to high mortgage rates. Robert Dietz, chief economist at the National Association of Home Builders (NAHB), explained, "The level of resale inventory has shrunk."

With a smaller number of existing homes on the market, new construction takes up a bigger portion of the total housing inventory. Buyers today are exploring all their options, from fixer-uppers to renovated properties to new construction. 

Attractive Pricing and Incentives

Builders are inclined to sell their inventory and are often more flexible with pricing than individual home sellers. To attract buyers, they frequently offer incentives such as mortgages rate buy-downs, price cuts, and covering closing costs. 

In addition, new homes are becoming more affordable compared to existing ones. According to the US Census Bureau, the median sale price for new houses in March was $430,700, only 4% higher than the median price of existing homes. This price gap is significantly smaller than in pre-pandemic times, when new homes were priced over 40% higher. 

Matthew Walsh, assistant director and economist at Moody's Analytics, told CNBC, "Prices are much closer to parity than during any point in the last three decades."

What Does This Mean For You As a Buyer?

While some buyers believe newly built homes are too expensive—or too much of a hassle— new construction does offer some unique advantages:

• More flexible pricing: Unlike traditional home sellers, builders may be more willing to negotiate on price, offer concessions like closing cost assistance, or even include uprades as incentives. 
• The latest features and energy efficiency: New homes are built to meet the latest building codes and often come with modern features that can save you money on utilities in the long run. 
• Less maintenance: Brand new homes come with the benefit of not needing immediate repairs or renovations. You can move right in and enjoy your new space! 

Things to Consider Before You Buy

Although new construction offers some great benefits, there are also some things to keep in mind:

• Wait times: New construction homes aren't always move-in ready. Depending on the stage of construction, you may have to wait several months before you can close on the house. 
• Limited space: Over the past few years, builders have been building smaller homes to help offset the costs of construction and help with affordability challenges. According to the NAHB, the median new single-family home was 2,156 square feet in Q4 2023, the lowest reading since 2010. 
• Future costs: Property taxes on new builds are often based on estimates and can increase significantly after the first year. Be sure to factor this into your budget. 

Here in Greenville, 54% of the inventory on the market is 5 years old and newer. 41% of the inventory is BRAND NEW! 

Final Thoughts 

With one-third of the market consisting of new builds, there are ample opportunities for buyers to fins a home that meets their needs. While there are unique considerations when buying new construction, the benefits often outweigh the challenges. From modern amenities and energy efficience to customization options and attract incentives, a newly built home could be the perfect fit for your next move. 

Let the agents at Expert Real Estate Team help you navigate this challenging market by calling us 864-895-9791.

New construction homes to consider in Upstate SC. 

When thinking about home ownership, there is more to consider that the current interest rate. 

Stable Payments

A fixed-rate mortgage ensures stable monthly payments, offering a financial stability as cost-of-living increases. This predictability is a significant advantage over renting, where payments can rise with inflation. Even with changes in taxes and insurance, the principal and interest payments remain the same.

Tax Benefits

Deduct your mortgage interest, insurance premiums, and property taxes may be tax-deductible, reducing your overall tax burden. Talk with your tax advisor to understand the specific benefits you can enjoy. 

Freedom to Renovate

You own it, paint it any color your heart desires! Whether you want to remodel the kitchen, add a new bathroom, or create a garden oasis, owning a home allows you to customize your living space to fit your personal tastes and needs. 

Access to Funds

Borrow against your equity. This financial tool allows homeowners to leverage the growing equity in their home to finance improvements, renovations, or other needs. This can further increase the home's value and provide additional financial resources. 

Home Appreciation

Owning a home is a powerful defense against inflation. In the scenario below, a home is purchased at the price of $550,000. As illustrated in the graphic below, even a modest annual appreciation rate of 3% would increase the home's value to $739,000 over ten years (+189,000). With higher appreciation rates, the benefits can be even greater. At a 7% appreciation rate, the home's value could reach $1.08 million in 10 years (+$530,000), nearly double the original price of the home. 

If you are considering purchasing a home now or in the future, we hope these insights are helpful. To learn more about owning a home, reach out to us at Expert Real Estate Team at 864-895-9791.

Search current inventory of Duncan SC new home on large lot

Listing Details

2 available homes on large lots!

112 S. Lakeview Drive, Duncan, SC 29334
Price: $425,000
MLS number: 1507003
Bedrooms: 3
Bathrooms: 2
Square Footage: 1800

116 S. Lakeview Drive, Duncan, SC 29334
Price: $410,000
MLS number: 1507007
Bedrooms: 3
Bathrooms: 2
Square Footage: 1732

Call LeAnne Carswell at 864-380-5590 to see if this property is still available and arrange a showing.

You Will Love the Peaceful Views of the Neighboring Woods

Wonderful opportunity to own a stunning newly built home in Duncan, SC.  NO HOA to worry with in either of these lovely homes.  Minutes from BMW and I-85.  One story home with luxury vinyl tile throughout!  Quartz counters and stainless appliances in the kitchen.  Split bedroom floor plans and 2-10 Home Warranty supplied by the builder.

Amazing Craftsman style and Gourmet Kitchen!

Click here to see Duncan SC new home on large lot

Kitchen Perfect for Entertaining

If entertaining is your forte, there is no better place to do this then from the expansive kitchen in this amazing newly constructed home. The stainless steel appliances make the kitchen come together, but it's the vast amount of space that makes bringing friends together so easy. 

Duncan, South Carolina

Duncan, SC, on the east side of the Greenville, SC area is one of the most desirable towns in the entire region. With easy access on I-85 to Atlanta or Charlotte and close proximity to the city, you can be downtown in 15 minutes, it's an oasis in the city.

Duncan is a popular community of more than 3,000 residents.  The town has seen much growth since BMW opened its North American Manufacturing Headquarters in the nearby Greer area in the 1990's.

Find Similar Homes in the Area

Search current inventory of Taylors mountainview land for sale

Listing Description

Mountainview Land For Sale in Taylors, SC

1140 Packs Mountain Ridge Road, Taylors, SC 29687
Price: $350,000
MLS number: 1525443
8.88 acres with the posibility to be divided

Call LeAnne Carswell or one of the agents at the Expert Real Estate Team at 864-895-9791 to see if this property is still available and arrange a showing.

You Will Love the Views of the Blue Ridge Mountains From this Gorgeous Property

Packs Mountain is a hidden jewel in Northern Greenville County, SC.  Amazing 180 degree VIEWS from Table Rock to Hogback Mountain.   If you live on Packs Mountain Ridge Road, one of your favorite past times will become weather watching as storms come across the mountains.  The owner of this 8.88 acre property is willing to divide it into three 2.96 acre tracts.  Build your dream home with a walk-out basement in this peaceful area of the Blue Ridge Community.

Click here to see additional images of this View

Living in Taylors

Taylors, SC, is located to the east of Greenville, SC and is only a 15 minute drive downtown.    Wildlife abounds in this area with turkey, deer and bear spotted on a regular basis.  Greenville County schools are highly sought after.

Taylors mountainview land for sale

Be sure to reach out to one of the great agents at the Expert Real Estate Team for more information and how you can own your own mountainview property.

LeAnne Carswell | Expert Real Estate Team | 864-895-9791