Thursday, April 25, 2019

Cunningham Team Greenville April Newsletter





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A monthly review of our team & the Greenville Real Estate Market

What's Happening in Greenville Real Estate NewsGreenville_real_estate_market_facts

A variety of big and small events are unrolling rapidly so we will try to update you.
I-85 Gateway Project is behind schedule. This should be no surprise to anyone who has noticed the 6 months of seemingly continuous rain we've had this year in Greenville. Finally the sun is out and the completion date, which was this month, has been adjusted to Jan 24th 2020 (yes, exactly on the 24. :). Hurricanes and wetland permits with additional work added are blamed for the delay. The contractor could be fined $25,000 a day if work is not completed on time.    Source: Upstate Business Journal

Greenville_SC_real_estate_market_2018Greenville's Real Estate Market March 2019


DEMAND


Rising


INVENTORY


Rising


PRICE


Rising

Poe West development in The Village of West Greenville are unveiled. In the former Poe West Hardware & Supply Co a 60,000 s.f. development is being planned which will include retail, restaurant, Class-A office space and educational facilities. A 2019 opening for the new complex is planned. Greenville Tech's new Center for Culinary and Hospitality Innovation (CHI) along with Carolina Bauernhaus Brewery & Winery, LaRue Fine Chocolate and Six and Twenty distillery will be the anchor tenants. Sounds like it will be a delicious place to visit. Homes for sale close by will start demanding a premium price to be within walking distance of these treats. Source: Upstate Business Journal 
Distillery to open new location in the Village of West Greenville! The Six&Twenty Distillery, founded in Powdersville, is opening new doors in downtown Greenville, SC at the above mentioned Poe West. The distillery will be much more then just a local bar as it will have full production in view of the patrons. Cocktail classes and retail and event space will also be available. Tours will of course be given of the production areas. The distillery will be neighbors with the Greenville Tech culinary school a beneficial pairing. Six & Twenty has become one of South Carolina's premier craft distilleries, using local grains. They specialize in small batch whiskeys, bourbons and vodkas.    Source: Upstate Business Journal 
Downtown_Greenville_SC_Condos_for_sale
301 East Broad Street Condo Development. Yes, yet another cool new condo development is going in downtown. Are there to many condos? Not yet, all the new units going in get sold out pretty quickly. Downtown is just plain HOT. The 301 E Broad condos will have 38 units and will be across the street from McBee Station and all the conveniences available there including a publix, restaurants, doctors and more. These condos will have only a 3 block walk to Main Street and the new Camperdown (Greenville News) development. 
Prisma Health to build "Destination Zone" in Greenville, SC. Prisma Health, the new owners of Greenville Health System, wants to create a one stop shop for families and employees of the medical facilities. They want to have affordable housing, hotels, restaurants, andy amenities needed and even a new cancer center in their vision for the future. This will involve partnerships with local government, universities and businesses. It would also include upgrades in infrastructure and roads. All campuses will need more land and that drives up area prices near the campuses. They have a 5-10 year horizon for these changes.      Source: Greenville News
.408 Jackson mixed-use development to be built across from Flour Field. We mentioned this new development last month, but wanted to give more details. This will be a 5 story complex with a basement. It will surround a 6 story parking complex. The residential portion will face out towards the street and field. The Shoeless Joe Jackson museum currently on site will be moved to a corner closer to the ball field, with the blessings of the family. There will also be retail shops and restaurants that don't need a full kitchen and apartments in the development.  Sources: Woodfield Developers, Upstate Business Journal
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New Grand Bohemian Greenville set to open 2020. This boutique hotel set next to Falls Park's Liberty Bridge will be 7 stories and look like a mountain lodge. I'm sure it will be a sought after place to stay for romantic couple get-aways (I'm making reservations now...just kidding) It is really in a great place and if it offers the type of atmosphere they are talking about it will be a wonderful destination. It will also have a 2 story restaurant and bar overlooking the Reedy River and Falls Park, so you don't need to stay there to enjoy the setting. The hotel will have 187 rooms and a Poseidon Spa as well as flexible indoor and outdoor venue spaces (think weddings and more). I can not wait to check it out, along with all the other new places coming to downtown. 
All of these new and potential developments add value to your Greenville, SC real estate investments and homes. Buying a home as young as you can is the wisest investment (see our recent blog newsletter subject on the topic of home and wealth), just do not max out your budget. A home is an asset, but only if it improves your quality of life and does not become a burden. 

March Sales



Greater Greenville Market Data Overview

(Condo & Single Family Home Sales)

March


2019


2018


Homes Sold


1179


1172


 Active Homes


4789


4620


Average Sales Price


$241,959


$239,514


Median Sales Price


$210,450


$205,000


 Average Days On Market (DOM)


64


62

As you can see from the graph BELOW March sales have continued to climb and are matched up with 2018 sales. The number of listings are up over last year. This is good thing for home buyers as we have had a shortage of inventory for the past few years in the Greenville real estate market. High inventory helps home buyers find what they want and get it at a lower price because there is more competition between home sellers. The Average and median sales price for homes is up just slightly over 2018 which is great for Greenville Home Sellers. Even with the increase in inventory home prices are rising. Home buyers don't need to despair as it means you are getting a good investment. This time of the year is the BEST time to buy or sell as there are more homes on the market and home buyers are looking to buy and move in just after the new school year ends. Thinking of listing? Talk to us about your home's value and our 3D interactive home tour. It's like having an open house 24-7 without the inconvenience!  864-67-0707. 

How many homes sold by month compared to last year? 

Homes_Sold_in_greenville_sc_March
Sources: GGAR MLS

?   DID YOU KNOW   ?

The phrase “It’s raining cats and dogs” has several different origin theories. One is that when houses used to have thatched roofs, pets and other small animals (squirrels, groundhogs, etc.) used to nestle into the straw for warmth. When it would rain, however, the straw would become slippery and the animals would slide out, creating the illusion that it was literally raining cats and dogs! 

Greenville EVENT Series Kickoff

The City of Greenville started it's Downtown Event Series on March 21st with Downtown Alive on Thursday nights and Heritage Main Street Fridays. If you are new to Greenville, these events are held in Noma Square with live music, children's activities and lots of fun people! This year we have 24 weeks of cool music and events. Thursdays there will be a food trucks available as well as all the downtown restaurants and shops. This year bands will be performing for your votes as well. You can vote online for your favorite bands and they will earn a paid gig and studio time for their and your efforts. Contest starts in May. These events create a fun and festive atmosphere in downtown Greenville, SC. The events attract patrons to the local retail and restaurants downtown and keeps them vibrant. The events also offer residents of Greenville County a break from the every day, family fun activities and overall improvement in the quality of life we have here in Greenville, SC. All of these things make homes in Greenville a valuable investment. 

Greenville Scottish Games May 24-26th

Little known fact about the Scottish Games here is Greenville. The City of Greenville LOVES the games as they are one of the top draws for people to come to Greenville from out of town. Those tourism dollars are huge and help Greenville, SC to grow & thrive with money from non-residents (always a happy thing for us home town folks).  The games are a fun festival of music, dancing, kids activities and the athletic events. If you haven't been to one yet go check it out. The Games are on the beautiful Furman University campus. 
Greenville_scottish_games
Travelers Rest has a new Wildlife Management Area. Just south of Highway 11/276 and about 12 miles from central TR a 1,757 acre parcel of land has been set aside for protection in it's natural state. It is called Tall Pines and contains upland and wetland areas, two lakes, numerous streams and a mile of frontage on the South Saluda River. Fish, deer, turkey, quail and small game live on the land. The land will be available to hunters, anglers, hikers and general public. It has taken 4 years to pull this together and about $4 million in funds. The land is particularly beautiful and is along the Blue Ridge Escarpment. It holds wonders that exist no where else in the state. Trails will be added moving forward. The property is at 556 Moody Bridge Road, Cleveland, SC. There is a sign at the entrance to the property and there are already roads in place that might be converted to trails by the SCDNR, who will maintain the WMA.     Sources:  travelersresthere.com
travelers_rest_south_carolina_parks

Another Cunningham Team Home LISTING

225 Murrell Road, Greenville, SC 29605

List Price $225,000     |    4BD x 3BA   |    2,000-2,199 s.f.  |   3.1 ACRES

greenville_real_estate_closing

Spring Cleaning FOCUS: Laundry Rooms

We are looking to relocate our laundry room from right as you walk in the back / garage door to a storage closet. We will be converting the storage closet from garage space to home space. This is a smart idea because it will add square footage to our home. The more square footage the more you can ask for your home and still get it to appraise. Loosing the storage space in the garage is a blow as we loved it, but I will love not having the laundry right at the back door more. Plus that space will be converted into a mudroom/pantry, what I've wanted for a long time. Not all the storage will be lost however as we will be raising the floor quite a bit to match the floors in the house so underneath that floor I will install huge drawers that pull out in the garage for large storage space.
We have been research the best options for a new laundry to make sure we add a lot of functionality and value to our home. functionality for us now and value to be able to resell for more later.
greenville_sc_home_tips
ADD FUNCTION: One neat option we have because we are altering the floor already is to raise the flooring under the Washer/Dryer even more to be easier on the back when pulling clothes out and putting them in. Adding additional cabinet and a counter top for folding is a nice plus. The counter could actually be made to fold down if you want more space in the room for other things. Adding hanging space is a great feature, in this day and age, where else are you going to do it? The days of outside clothes lines seems to be fading into the past. A built in rod or a fold-down bar you can hide are two ways to deal with this option. Purchasing a rolling clothes basket with the bar across the top for hanging folding clothes is a great option as well.
REMOVE WHAT's UNNECESSARY: When you are revamping your laundry room make sure to only have the products you need and get rid of old or un-used chemicals. Have the items you use all the time next to the washer and dryer in a cabinet, on top of the appliances or in a tote next to the W/D. Don't use the laundry room as a catch-all (unless you have no other choice) for other household cleaning supplies, mops, vacuums and misc storage. \
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ORGANIZE: In the gaps between the machines you can put in a roll-out shelf for many of your laundry supplies and it will keep your laundry room looking clean and neat. Make sure the floor stay clear of clutter and clothing. Laundry floors seem to get dirty from all the fabric and dirt that come in, so clean it as often as you can and have laundry baskets in some sort of organized set-up. They have tall slender laundry baskets now that roll around or you can install a cabinet systems where laundry baskets rest and slide out for easy sorting. These can be labeled for each person so they can grab their clothes and put them away. 
KEEP CLEAN EASILY: When laundry detergent drips all over the cap/cup just toss it in with the laundry (non-delicates only). A favorite of mine is this non-trash can solution to lint. Try hanging an apartment style mailbox, or planter beside your dryer. Keep a small trash bag or plastic grocery bag in it and toss the lint into it. An easy and convenient solution for lint. 

?   DID YOU KNOW   ?

Housewarming. The term “housewarming party” comes from the literal tradition that used to occur before electricity. Every time a person built or bought a new home, guests would bring firewood as gifts and light fires in the home's fireplaces. This not only “christened” the house, but was said to ward off evil spirits.
ALL THE CARE FOR CLOTHES: Since this is a dedicated clothing maintenance space make sure it has: a space for all dry cleaning items. A hanging space for your iron and ironing board (try the back of the door, or a fold down one the hide in a cabinet), A small basket for items that need mending or fixing, a small sewing kit for those items as well (it can be kept in the bottom of the basket), a basket for single socks (or a clothesline hung against the wall? 
ENJOY YOUR SPACE: Always remember that in order for you to enjoy going in the room it needs to be nice and bright. Have good lighting and maybe a window if possible. Light colored paint is always a good idea and minimal window treatments to let the sun shine in. 

Cunningham Team Home UNDER CONTRACT

3 Deerborne Dr, Taylors, SC 29687 

Listing Price: $229,000   |   3BR x 3BA   |   1,800 S.F.

( YES, Just Listed and Just Closed. THAT FAST )

Home_for_sale_greenville_real_estate


Cunningham Team Client Testimonial


Lee and his team are excellent at what they do. He was able to sell our house in ONE day with multiple offers. He got us an amazing price and great terms and we are very thankful for him and his team. He was always easily reachable via phone, email, or text. We moved out of state and he did a great job coordinating all the repairs and things we couldn’t do ourselves. We highly recommend him! ~Kelly

HAPPY CLIENTS AT CLOSING with Lee Cunningham

Home_Sellers_Greenville_sc_real_estate

What's SOLD in YOUR neighborhood?

Get active, under contract and sold homes report for the ANY neighborhood. Be better informed about selling prices for properties and your future home.


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Wednesday, April 10, 2019

Cunningham Team Greenville April Brief


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A monthly BRIEF on the Lighter side of Greenville's Real Estate Market

Greenville Real Estate Spot Light - Travelers Rest

Greenville, South Carolina is not just about the downtown area, our location close to the Blue Ridge Mountains, and with flowing rivers and lakes close by make this area a great place to live. Many people like to slow down, work less, spend less and have more free time for quality of life. Homes in Travelers Rest accommodate this higher quality of life without sacrificing access to good restaurants, shops and activities. Travelers Rest is now enticing many younger residents to settle there because of these factors. TR is unique in that it has  embraced a healthier and innovative way to appeal to younger residents, families and couples. Having Furman University in TR helps bring in a younger crowd, but the growth since the swamp rabbit trail opened has really catalyzed amazing shops and restaurants to  open. This article will detail more about TR and the trailblazer park. Next month we will talk about all the amazing new restaurants opening in Travelers Rest. 
greenville_real_estate_Travelers_rest_south_carolina
Image Source: trailblazerpark.com

A Short Travelers Rest History

Just north of Greenville, in South Carolina where US-276 and US-25 unite for a short distance and then head off in different directions, nestles a place called Travelers Rest. The name itself conjures up a sense of peace and relaxation, a place to take a deep breath and put your feet up for awhile. The town takes its name from its location-in the 1800s, weary travelers coming down out of the mountains to sell goods or to travel to the coast, would stop here and take a breather before continuing to their destination.  It was also the last stop before heading back up into the mountains on the way home.  Sometimes those travelers had to wait months to allow the snow to clear.  

NEW Cunningham Team Home Listing

202 Asheton Lakes Way, Simpsonville, SC 29681

$479,900  |   4BR x 3.5BA   |   3,400-3,599 S.F.

New_Home_for_sale_greenville_real_estate
Travelers Rest (TR), SC has always given weary travelers a respite-a place to stay for a day or a month, a place to rest and to restock their supplies. TR is not just a sleepy little town anymore. Today, visitors to TR do not need to go to the general store to restock their wagons with supplies or food (although people food is definitely available!) or find a place to repair a broken wagon wheel. They can, however, choose to restock their wagon with other items- like fun, adventure and enjoyment! Depending on your mood and your level of energy, there are a number of activities in Travelers Rest to explore. The two we’ll be taking off the shelf and adding to our wagon today -Trailblazer Park and the Swamp Rabbit Trail connection- are available anytime and, best of all, don’t cost a dime!  
Sources: Eric Vinson, city administrator, 

A Huge Asset to Travelers Rest - Trailblazer Park

Trailblazer Park is located on 22 acres on the southern side of downtown Travelers Rest (TR). Travelers Rest High School was located on this site until it was moved to a site on North Main St. in 2007. The school board’s plan was to use the property as a school bus hub, but TR’s visionary planners, including former mayors Roy Reynolds and Wayne McCall and city administrator, Dianna Turner, had a better idea.  

Administrators wanted to take advantage of one of the best views in the area ...so Trailblazer Park was born

They wanted to take advantage of one of the best views in the area and make this piece of property a hub of activity for the community.  And so Trailblazer Park was born.  

blue_ridge_Mountains_travelers_rest_greenville_homes

Trailblazer Park opened in the summer of 2014.  If you need to take care of any town business, Travelers Rest’s City Hall, Police Department, Fire Department, and Summary Court are all located here. But the park is not all serious business! Step outside those offices and take in the view of the Blue Ridge Mountains to the north and Paris Mountain to the southeast. The park itself is a beautiful green-space with wide sidewalks equally suitable for an evening stroll or a more strenuous walk for exercise.  

Trialblazer Park Events and Activities

The Travelers Rest Farmers Market Pavilion is located in the center of the park. Every Saturday morning, from May to September, this space welcomes 70+ vendors, making it the “largest, independently run, non-profit farmers market in the state” (quote from https://www.travelersrestfarmersmarket.com). Opening Day this year is May 4th, 2019. The Farmers Market, besides bringing fresh, local products to customers, also provides regular programs during the Saturday markets. Those programs include Market Music, Market Talks, Market Cooks, Market Kids, and Market Fitness. The May 4th programs include “Ask a Master Gardener” presented by Greenville Gardeners Master Gardeners, “Plant a Seed for Life” hosted by Market Kids, and a yoga class offered by Market Fitness. Check the website above for the schedule of events and fill your Saturday mornings with good food, fun and a bit of education. One program offering, which sounds particularly appealing, is the “Tomato Sandwich Taste-Off” on July 27th.  This will be the 6th year for this event, which features 8 local restaurants competing for the “Big Tomato” title.   
Homes_Travelers_rest_SC_near_trailblazer_park
Behind the Market Pavilion is the amphitheater. This year, the amphitheater will host “Music in the Park” every Saturday evening in May, June and September. A wide range of musical genres is represented so check out the schedule, and choose a night (or several) to enjoy this beautiful venue.  Food vendors, food trucks, and a craft beer and wine kiosk will be available. Bring your lawn chairs or a blanket , but no pets, alcohol, hard-sided or large coolers. Another popular series in the amphitheater is “Movies in the Park” every Saturday evening in August. The schedule will be announced in June. The movies start around 8:30 PM.  Food trucks will be open. Bring a chair and grab a spot! On Thursday evenings during the month of October, when the temperatures turn cool and the mountains are blazing with color, Trailblazer Park celebrates with the Bluegrass/Harvest Market. This event features bluegrass music in the amphitheater and family style dining. Local vendors and artisans also return to offer their wares at this market. 
Trailblazer Park hosts annual/biannual events too. Coming up on April 19-20 is the Vintage Market featuring over 100 vendors of vintage and handmade goods, along with food and music. The Vintage Market is also held in the fall, but that date has not been announced yet. On June 19, Chautaugua Series presents “History Comes Alive” with Leslie Goddard portraying Jackie Kennedy.
Included in the Park’s 22 acres are Greenville County athletic fields, known as the Chico Bolin Athletic Complex. The former Travelers Rest High School football field, complete with lights and a ¼-mile walking track, remains on this site. On the southern side of the field, new trails, a concession stand, and bathrooms are being constructed.  
Trailblazer Park offers something for everyone. As a visitor, you can enjoy a solo walk around the park’s trails, attend a concert in the amphitheater, buy local food and wares at the Farmer’s Market, or do business with the city.  Or all of these on the same trip!
Travelers_rest_swamp_rabbit_trail
Image Source: trailblazerpark.com

Travelers Rest portion of the Swamp Rabbit Trail

Another bargain in TR is the Swamp Rabbit Trail. The Swamp Rabbit Trail (SWT) is a 20+-mile long (and growing) paved trail, which runs through Greenville County.  The SWT sits on the old rail bed for the Greenville and Northern Railway-one of many names this railway had over the years.  The railway’s nickname, though, was the Swamp Rabbit, because the line ran along the Reedy River and the ride, evidently, bounced passengers around, just like its namesake’s hopping gait.  And, as with many nicknames, Swamp Rabbit was the name that stuck.  In 1998, Upstate Forever saw the potential in converting the section of the abandoned  line from Greenville to Travelers Rest to a public trail.  The group spearheaded acquisition of the property and the eventual partnership between Greenville County Parks, Recreation, and Tourism and Greenville Health System, and the opening of the “Greenville Health System (now Prisma Health) Swamp Rabbit Trail” in 2009.  Since then, it has grown to its current 20+ miles and runs from just north of Travelers Rest to Lake Conestee Nature Park south of Greenville.  You can find an interactive map of the SWT online or you can pick up a hard copy at Travelers Rest City Hall. 

Over 600,000 bikers, runners, and walkers used the Swamp Rabbit Trail (SWT) in 2016

Over 600,000 bikers, runners, and walkers used the SWT in 2016.   The SWT closely parallels Travelers Rest’s Main St and has helped to transform the downtown area from its former status as a place to pass through to its current repute as a “hopping” destination. The eastern portion of Trailblazer Park lies very close to the SWT.  A short spur across from City Hall allows easy access to the trail. From there, it is an easy 0.8 mile hike, run, or bike ride to downtown TR and all the food and entertainment available there. This portion of the trail is popular with families, with people walking pets (and pets walking their people!), runners, and bikers. With so many different types of users, rules to keep everyone safe do exist. Those rules include staying to the right if you are a walker or runner, to the left if you are a biker. Trail etiquette calls for bikers to warn pedestrians of their presence by ringing a bell or calling “on your left!”  Pedestrians, though, also need to remain aware and keep one ear open for approaching bicycle traffic.  
Optimum health is built on many things, including ample rest and relaxation, physical activity, healthy food, and emotional and spiritual activities that feed our souls. Travelers Rest remains a wonderful place to seek peace and quiet, but has also transformed itself into a place to be active and involved. From the Farmer’s Market at Trailblazer Park, where local produce is available for your purchase, to the Swamp Rabbit Trail, where you can stretch your legs with a gentle amble, or push yourself a bit with a bike ride or a run, Travelers Rest provides many options for helping you become the best you can be.

?   DID YOU KNOW   ?

Talk about lightening up... Nanoleaf, a unique lighting company, has developed hexagonal smart light panels. Arranged in endless combinations you can create programmable art and light. Set it to react to touch or music!
$250 for 9 tiles available later this year.

Starting Spring yard work?

Planning a new yard design to update the current one? Curb appeal is top on the list with new buyers. The app Home Design 3D Outdoor & Garden can help you with that!. The NAR blog for ABR credentialed realtors (which Lee is one) recommend it!
Home_spring_cleaning_greenville_sc

What are basic Spring DIY Cleaning Supplies?

General things about cleaning supplies, Cleaners rely on either acids or bases. When combined they cancel each other out so pick one or the other, but not both for the same job. 

?   DID YOU KNOW   ?

Did you know that mixing bleach & vinegar OR ammonia creates HIGHLY TOXIC chlorine gases NEVER MIX THESE.
Mixing hydrogen peroxide can cause an EXPLOSION!
Borax is an excellent cleaner, but TOXIC.
Acid can etch the surface of any stone (granite, marble, etc).
Whew, now that we have that out of the way...
You can start making your own cleaning supplies by stocking up on these basics:
Weak Acids:
White Vinegar - (acetic acid) Has a slight smell at first which goes away quickly. It's a great all purpose cleaner. Do Not use the apple cider vinegar for cleaning purposes!
Lemon juice - (citric acid) This acid does all of the above, but smells much nicer.
Alkaline Bases:
Baking soda - A safe and gentle alkaline base. Germs can't survive around this much base.
Borax - Toxic
Bleach - Does not play well with others. Only add water!!!

ANOTHER Cunningham Team Home Closing

450 Peaksview Drive, Simpsonville, SC 29681
List Price $179,900     |    3BD x 2BA   |    1,400-1,600 s.f.

Yes, Just Listed and Just Closed. That Fast!

greenville_sc_real_estate_closing


Cunningham Team Client Testimonial


 "Lee Cunningham and his team...
by far exceed my expectations of the entire home selling process.
The property was such, that a particular type of buyer was needed, and found.  Also, the LC team in no way impeded a temporary lease of the property that extended the time frame by 5 months, but ended up with a closed deal! My thanks to all of you!"  
-P. Volino

What's SOLD in YOUR neighborhood?

Get active, under contract and sold homes report for the ANY neighborhood. Be better informed about selling prices for properties and your future home.


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Thursday, March 28, 2019

Cunningham Team Greenville Homes March Newsletter


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A monthly review of our team & the Greenville Real Estate Market

Big Month in Greenville Real Estate NewsGreenville_real_estate_market_facts

So much to talk about and so little time!
Greenville, SC was named in the top 10 for most livable places to live in the US on livable.com. This is an amazing position to be in when you think of all the towns and cities in the US. It comes as no surprise though to anyone that has traveled to downtown Greenville, SC. The new real estate developments in downtown are sprouting up all over the area, not just along Main Street. Also the new restaurants, eateries, shops, parks and galleries all make Greenville great. 
Downtown events center would house Bob Jones Art Museum and much more! Many hurdles to cross for that to happen, but it would drive business to downtown and create a space off of Main street for people to visit. The Bob Jones Museum has world class exhibits and paintings and needs showcasing. 
Three new huge residential buildings are going up in downtown Greenville, SC. Merrill Gardens Senior Living, The McClaren, and .408 Jackson. Recently built were the Westgate Townhomes, Falls Walk town-homes and Greene apartments. The growth downtown is seemingly out of control and exciting at the same time, yet to long time residents it's been a long time coming. There was a time when the City could not get businesses to thrive in the West End area. 

Greenville has also recently topped the half a million population mark.

Greenville_population_5_Hands
Simpsonville has announced a big development in it's downtown area. The development, Burdette Central, will have a historic feel to it. It's named after Burdette Hardware, which is the building that is being renovated. It will continue to host current residents. Burdette's Hardware started in 1899! It's good that it's legacy is going to continue in such a cool way. New residents will be Sidewall Pizza (yes, another Travelers Rest Transplant) Kaffeine Coffee Shop and Roastery and FIVE other restaurant and retail tenants. They have 27,000 s.f. to fill and it included upper floor office space, a beer garden and more. When Greenville Today asked what people would like to see there was the suggestion of a nice local sit down restaurant (Leo N. and others) and a community-driven work-space (co-working space) that brings remote workers together. (Aaron O.) Hopefully the developers are listening.
simpsonville_real_estate_burdette_hardware_development
Rendering by McMillan Pazdan Smith Architecture

February Sales Are Bounding Back



Greater Greenville Market Data Overview

(Condo & Single Family Home Sales)

February


2019


2018


Homes Sold


957


848


 Active Homes (March)


4610


4611


Average Sales Price


$234,709


$237,792


Median Sales Price


$202,500


$198,500


 Average Days On Market (DOM)


65


66

As you can see from the graph BELOW February sale rocketed back over January's lackluster performance to by-pass 2018 sales for February. This is good news for the Greenville real estate market. Also the number of active listings rose from 636 in January to a whooping 4619 so inventory of homes on the market is high right now. High inventory helps home buyers find what they want and get it at a lower price because there is more competition between home sellers. The Average and median sales price for homes is down just slightly over 2018 which shows the increase in inventory is doing it's job

How many homes sold by month compared to last year? 

Homes_Sold_in_greenville_sc_February
Sources: GGAR MLS

WHAT Makes the BEST Greenville Neighborhoods?

According to Trulia & Forbes there are about 12 factors that make for the best neighborhoods. While there are no neighborhoods that EVERYONE thinks are perfect there are factors common to ALL great neighborhoods. 

Greenville_SC_real_estate_market_2018Greenville's Real Estate Market March 2019


DEMAND


Rising


INVENTORY


Rising


PRICE


Falling

  • Lifestyle match - Whether you are a renter or a home buyer similar demographics will dominate in certain neighborhoods. Such as downtown condos tend to have hip young or retired professionals with no kids and a suburban neighborhood tends to have families with children. 
  • Pride in ownership - Great neighborhoods all tend to take care of the area and homes. The people living there take care of the community as a whole.
  • Low crime rate - This sounds like a definite criteria for a great neighborhood and it is. An increasing or decreasing crime rate is a quick way to tell if a neighborhood is on it's way up or down. 
  • Great schools - Most families with renters are most concerned with the school their children are going to be attending. Homes for sale in good school districts get a premium on the sales price of their homes. Here in Greenville the Eastside and Riverside High School districts are one example of areas that attract higher home prices then other similar areas outside of the school districts. 
  • Outdoor activities abound - This criteria is clear if you look at housing prices around the swamp rabbit trail in Greenville. The homes in neighborhoods even whispered to have a spur or extension of the trail nearby- skyrocket. Falls Park in downtown Greenville showed tremendous pent up demand when it was finished. People visited the park in droves and it became super popular overnight. It's popularity  encouraged city leaders to think of Unity park which is now close to becoming a reality. The homes around these parks and trails have gone up sometimes 5x or more over their original price showing just how much we value outdoor space, especially in a city.

?   DID YOU KNOW   ?

Did you know that almost 30% of Americans own their home "free and clear," without a mortgage?  That's approximately 21 million households! 
  • Established neighborhoods - Yes, believe it or not, but the new home subdivisions, while the homes are to die for, the older tree lined streets of an established community show stability and long time support if it's well kept. Usually low crime rates and safety are encouraged in these neighborhoods as well. 
  • Medical care close by - Everyone likes to be close to medical care especially retirees and families with young children. Being sick is no fun and we all want doctor's close. 
  • Family friendly - Like attracts like. If there are other families close by it makes it nice for your kids to have someone to play with. For mom's that stay at home it's great to have company in an isolating job. It really takes a tribe to raise a child and carpooling, socializing and sharing life with those close by makes life much easier. Greenville_real_estate_cities
  • Close to public transport - This is becoming a factor in downtown Greenville, SC and might be addressed partially by the new 5G network being put in as a test in downtown Greenville. See our blog on the subject of 5G in Greenville. The technology will help google cars run, help drivers find parking and help public transportation route in real time around traffic. Crazy new technology and Greenville is on fire... Back to public transport being in the best neighborhoods, yes it is in downtown. 
  • Nearby shopping and restaurants - This tends to be a no brainer, everyone wants these conveniently located. It's so much fun to try out different restaurants and shop in clean, updated shopping centers.

?   DID YOU KNOW   ?

A homeowner's net worth is over 30 times greater than that of a renter.

  • Nightlife and entertainment - Well Greenvillians have this in spades now. This is an important part of quality of life and makes a neighborhood great to have it close. Having this close enough to walk and or take a short cab / uber ride is a plus for everyone. 
  • Walkability - This is an important factor that city leaders are taking a greater interest in than in the past. People are getting away from their cars and strolling to entertainment, restaurants, shopping and parks. Having walkability in the neighborhood is truly a bonus.

Greenville's Best Neighborhoods

According to livability.com. We will compare these neighborhoods to our criteria above to see how well they choose. 
Livability.com names the best "areas" in Greenville rather then exact neighborhoods, which makes sense as most subdivisions do not have retail stores, at least not around here. Downtown Greenville was top of the list of course and seems to check off all the above factors for best neighborhoods.
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It has walkability, nightlife and convenience, established areas, medical offices close by, outdoor areas and more. Another area is Augusta Road which is basically an extension of downtown and covers these criteria as well. 
A surprise to me was Cherrydale Point. I wouldn't think of this area as being super walkable except in the shopping center, but I would say that's typical of most areas in the U.S where we love our cars. Lots of amenities and shopping similar to other areas chosen Haywood Road, Pelham Road and Roper Mountain Road areas. 
The last two areas mentioned are really a part of the downtown Greenville area or next to it, The Village of West Greenville and the West End.
Best Areas that I did not see mentioned in the article that definitely check all the boxes were Travelers Rest downtown area, Greer's downtown, Mauldin's new central square and Simpsonville's downtown. Of course Greer and Mauldin are still building their new city-scapes, but get the jump on home buyers before the prices skyrocket like downtown Greenville's and buy real estate in these areas soon. 

Another Cunningham Team Home Closing

17 Parkins Mill Road, Greenville, SC 29607
List Price $268,000     |    3BD x 3BA   |    1800 s.f.

Yes, Just Listed and Just Closed. That Fast!

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Research Says: Buying a House Younger is Better Financially

Last month we wrote about how home purchases put a tremendous amount of cash into the local and national economy. Experts at urban.org studied why home ownership for millennials was 37% or 8% BELOW the previous 2 generations at the same age (25-34). According to Urban.org and a research study they conducted last July. There were many reasons for the delayed purchasing of a home, some by choice some due to economic reasons. 

greenville_sc_home_buyer_data
The implications of delayed home ownership have never been thoroughly researched or understood. In a recent study by urban.org evidence was found that delayed homeownership my reduce the wealth that millenials generate over their lifetime. 
Looking back at data collected by PSID, Panel Study of Income Dynamics, a group that has collected and followed individuals since 1968, to conduct analysis on wealth and homeownership. Among the older adults studied 50% bought their first home between 25-34 while 27% purchased a home before age 25. Currently millenials percentages are 37% own homes and are age 25-37 and 13% purchased their first home younger then 25, Older age data was estimated for millenials. 

greenville_real_estate_purchasers_age

 

This is all very interesting, but what does it mean for wealth building? Finding were significant.
Those who purchased younger then 25 tended to be better off in their 60's in terms of debt to equity. Their homes were worth a lot more then they owed about $190,000 more equity. Those aged 25-34 had homes that were WORTH more by age 60 then those that purchased younger then 25, but they also had more debt so the two groups were fairly close in terms of overall home wealth (with in $10,000). Those that purchased younger then 25 had substantially less debt then older purchasers. 
What caused the older purchasers to have great home wealth? The reasons for this is that the younger the purchaser the cheaper the home they tended to purchase and the lower their education level tended to be. The older purchasers bought more expensive homes when they did purchase and those home tended to appreciate more because they were in better areas. The older purchasers had more debt left in their 60's (on average $50k). 
Overall both groups that purchased younger then age 34 were much better off then those that waited to purchase their first home after age 35.

Cunningham Team Home Listing

3 Deerborne Dr, Taylors, SC 29687   |   $229,000   |   3BR x 3BA   |   1,800 S.F.

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Cunningham Team Client Testimonial


It was truly a pleasure to work with the Cunningham Team. They were fully engaged from the 1st time we spoke and gave valuable advice on how we could maximize profit on the sale of our property. They were with us every step of the way. Good honest people and I would recommend to anyone. Thanks Cunningham Team!
- Kirk C

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