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 
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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? 

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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. 
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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
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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

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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.
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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 )

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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

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