The one thing that came out of the Leading Real Estate conference for me was this industry is in the middle of flux. I think we’d all agree that Real Estate leads us out of every economic recession that we’ve ever had. This one’s gonna be a little bit different because we have had so many things that brought us into this recession. We had a ramp up in the home buying and in the inventory that the United States had of homes. We’ve also have had a massive financial crisis and now very high unemployment, not only nationally but here locally. Now, the thing that I get out of this is the average time that people are spending in houses is expanding. Also, the type of house that they are buying is shrinking. Individuals are looking at a luxury home as being whatever luxury products they want to put in their home, not just size. “A lifestyle match, not just a home.” It’s no longer just a 3 bedroom, 2 bath, but it’s what can I do in that product? Does it have a great backyard? Or do I not like grass and I don’t want a backyard at all. We, as Realtors, have to be professionals, more now that ever before. Today’s consumers need a Real Estate professional, specifically a Rinehart Realtor mainly because we spend a lot of time coaching and training on our marketplace and on the product. Not just, hey, let me answer the telephone and look on the MLS.

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I have just gotten back from a trip to Las Vegas at the Leading Real Estate Companies of the World Conference and have lots of great information to share. We are all independant Real Estate companies and we tout that here in Rock Hill. We are local. We’re York County, Lancaster County and Chester County. We’ve been here for 34 years. But we are affiliated with some of the leading independant Real Estate companies throughout the entire United States and we are the Leading Companies of the World. Now, we’re also represented in 40 countries. So whether or not your moving locally or internationally, then certainly we can help in that relocation. About 5 years ago, we started making the move to helping our brokerages. Now, what does that mean to your local consumer? I’m bringing the best practices from around the country back to Rock Hill, South Carolina. And we’re instituting them here in York County, Lancaster County and Chester County making us the best in the country. This conference gives us the chance to compare and learn from our best practices and also the ones that aren’t. We try to be a general brokerage firm which is what Rinehart Realty is. It’s one of the few in this area and around the United States is where we take care of residential, commercial, property management and we can relocate entire companies all the way across the United States.

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Because there are a lot of buyers..I mean, it’s a buyer’s market, no question…and they’ve looked at the inventory, they keep an eye on the inventory, that when something comes on that’s priced right, sometimes it can be days (not months) it’s on the market. It really is something else. But again, it’s being priced right for the market place. It’s regardless, unfortunately, of the payoff amount on the mortgage. You gotta price it to the market place and again, too, I will tell you that the deals to be had this year are really not in the 50, 120 and 150 thousand dollar price range. They are really above that, if you go into the 200, 250 and 300 thousand dollar price range and the house is priced right, ready to sell, those are the individuals that are really looking at picking up a deal that will see some growth over a period of time. Now most of us, can’t afford an 800 or 900 thousand dollar house, but if you can those are the really good deals where maybe over the next 10 years you may see a significant increase in price. But that marketplace is really tight right now. I don’t mean to go in and offer way below asking price. Really look at the asking price of some of these houses. They are priced right to begin with, so I do believe that those are the deals to be had.

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As soon as the sun comes out, activity in the Real Estate business tends to pick up. Between now and the end of April, we are going to see a significant up tick in the amount of activity going on in our local market place. Now there are two reasons for that and it’s the big push. Is the Home buyer tax credit, whether your a 1st time home buyer or an existing home buyer, a lot of people are now starting to say, “Wow, the clock is really ticking on this”. There’s a lot of movement in congress that this may be the last of this home buyer tax credit. They probably are not going to extend it. They are going to take the money and use it in other places to help spur economic development and job creation. Of course, we (Realtors) believe that can be done in the housing industry especially if we have new starts. So we’ll see where that goes closer to the end of April.

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We knew it wouldn’t be long because when you attract somebody like Boeing to the state of South Carolina and 4000 direct jobs there would definitely have to be a big ripple in the pond of economic development that’s gonna be felt statewide.

Marion county announced that they are bringing a plane repair company that is going to bring 300 brand new jobs. Why is that important? Well, Marion county has been losing jobs for a LONG time. It’s kind of one of the black eyes in that area of South Carolina. “The best thing coming and going out of Marion is the road to the beach”, is the way I’ve heard it put a lot of times. Now there are going to be 300 high quality jobs brought into that area. Now, the other reason that’s important is that Marion is about an hour and a half away from where the Boeing plant is gonna be and York County is about 2 hours away. So, there are opportunities for bringing these ancillary businesses in. We are actively seeking those businesses and hopefully we are going to have some announcements in York County in the next 12 to 24 months that will be tied to that also!

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Sellers don’t always disclose the whole truth and nothing but the truth to home-buyers. Since it’s out of the question to have a home inspector with you at every showing, you can do your own “inspection” to identify potential problems.

1. More than a few homes for sale in the neighborhood? When checking out the curb appeal for a property, check out the surrounding areas appeal. Talk to neighbors, etc

2. Home needs maintenance? Sign that the owner’s weren’t big on keeping up with the maintenance and could be many underlying problems.

3. Foundation not quite right? Check out yard grading. It could be causing problems under the home.

4. Smells funny? If you smell lots of potpourri or air fresheners. Here’s your sign.

5. Lights don’t work? Could be faulty or old wiring.

6. Fresh paint on one wall? Could be a cover up for a problem.

7. Room “Off Limits”? Hmmmm…

8. Foggy or stuck windows? Seals could be comprimised.

9. Floor plan changed from original? If they removed a structural wall without adjusting the framing, it can shift.

10. Bugs! Look for signs.

Important note: Skipping a home inspection is not a good way to cut home-buying costs.

Frontdoor.com

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Selling a property in this tough market can seem like a challenge. Here are four factors that actually make this a good time to post a For-Sale sign.
• Sell low and buy low. Because all property values are down, the loss on the property a home owner sells is really only a paper loss because the next property he buys also will be a bargain. If he buys smartly, when prices come back up in a few years, he’ll be in better shape.
• Down-payment help is widely available. While nothing-down loans have disappeared, it is easy to find down-payment assistance for lower-income and first-time home buyers. Programs vary all over the country, but one good way to find them is to search online for “down-payment assistance programs” and the name of your region.
• Your uncle has money to share. Besides the $8,000 first-time home buyer tax credit and the $6,500 move-up credit, there are an array of energy tax credits that can make home improvements pay off in cash.
• Good help is available. Really talented real estate practitioners, contractors, and designers are available and eager for business.
Source: McClatchy Tribune, Kate Forgach (02/07/2010)

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We have some news to celebrate. Rock Hill’s Christmasville won the event of the year for the 3rd year in a row. It was top of the list for all events held in the state of SC! The website for Christmasville also won an award for top website about an event!!! Go ROCK HILL!

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Days on the market were up in 2009 over 2008 for our area. Statewide they were up 6.9%. In our Piedmont Regional, they were up 14.1%. We’ve gone from 135 days on the market average to 154 days on the market average. Now remember those million dollar houses that have been on the market for a year or two can skew those numbers.

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