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| Remarks: Built with every amenity and upgrade you could imagine! This Donald A. Gardner Laurelwood floor plan is perfect for everyday living as it allows for both togetherness and private spaces and is also wonderful for entertaining. Beautiful views can be enjoyed from every window while living in a lap of luxury inside. Built in 2007 with careful planning and focus on creating an environment of peacefulness, serenity and ease of living. Some of the features include, coffered, trey, vaulted and cathedral ceilings, exquisite granite, one of kind custom tile work, rain shower, jetted tubs, onyx tiles and bowls, screened in porch, deck, patio, gas log fireplace, secret room with safe, pet watering & feeding system, built in dual wine cooler, central vacuum, circulating hot water heater for instant hot water, security system, 14 ft rock fireplace, apprx. 1000 sf unfinished storage in basement, full lawn care included in HOA and so much more. You have to see this home for yourself to appreciate how gorgeous it really is! Once you do you'll never want to leave. Check out the neighborhood at www.cottagesatturtlecreek.com. |
With supply high and demand low, it's a great time to purchase a home. With low interest rates, affordability is still the best it's been in 3 decades. Home values are stable and in many cases are on the rise; so we may have hit bottom and now may be the best time to purchase a home. For many home owners with higher interest rates they may find they can afford a larger home and not have an increase in their mortgage payments. For the first time home buyers, not only is affordability great, there is an $8,000 tax incentive for you to purchase. In many cases, the incentive will pay all or most of your cost of ownership the first year. It can't get much better than that. Don't let it pass you by!!
New lending regulations and increases in refinancing are extending the time it takes to close on your new home by 50% or more. The 30 day "Contract to Close" no longer exists unless it is a cash transaction. This is important for both buyers and sellers. If you are selling your home and have not decided on which home you will be purchasing you may find that you have no place to live for several weeks which could lead to additional expense and frustration. Be sure you consult with your lender and your real estate professional before you sign a contract to purchase or sell a home.
Spartanburg County, South Carolina - - -July MLS sales records indicate real estate values remain stable and sales continue to creep up. The median price of a home was $127,000 and there were 230 homes sold. Of the homes that sold, the average days on market was 165.
Although the numbers were encouraging they are still well below the past year's levels. Unit sales are about 50% of July '06 sales and 33% lower than last year. Of the homes that were sold 80% were sold for less than $200,000. There is currently a 12 month supply of homes on the market in this price range.
Homes priced between $300,000 and $600,000 are still taking longer to sell with only 44 units sold in July. There is a 22 month supply of homes on the market in this price range. This is yet another indication that tax incentives have not helped sales in the upper price range and that the local economy, while improving, is still struggling.
Second quarter statistics from the Spartanburg MLS continue to show that our local market has bottomed out and is starting to show improvement. A comparison by quarter reveals that there were 535 homes sold in the 1st.qt and 738 homes sold in the 2nd qt, an increase of 38%. The median home value increased from $104,000 to $117,250 and the days on market fell from 147 to 144. When you look at the 2nd qt alone, the median price was $106,000 in April, $116,000 in May and $124,950 in June which shows an upward trend for the past 3 months.
Several factors, including stabilization in the foreclosure market and the impact of first time home buyers, have helped reduce inventory and increase the value of existing homes in our market.
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