Fort Mill Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

July 24, 2019

Priority Tasks Before Moving In

You did it. You moved into a new home you love and now you’re dreaming of how you’re going to decorate it. But before getting into all of that, there are still some other tasks that need to be at the top of your priority list.

Changing the Locks

Double check them even if you’ve been told that there are new locks installed. It’s better to take safety measures and know that no one else has keys to your home. Call in a locksmith if you want to spend a little money or it can be done yourself.

Call an Exterminator

A great exterminator can take care of any pests that have been lurking in your home.

Get the House Cleaned up

If it isn’t already, clean out the refrigerator, wipe down counters, cabinets, oven if needed, and plumbing fixtures. Prior occupants might have had pets or young children so it’s best to steam clean. This will free your floors of any junk or allergens.

Mechanical Equipment Cleaned

Getting your heating and cooling systems cleaned is crucial and make sure to get a service contract just in case it stops working suddenly.

Get some Closet Organizers

Keep in mind where everything is going to get placed so it can be accommodated in your closet space. A shelf or a coat hook can go a long way for making room for organization.

Meet the Neighbors

You want to reach out to your neighbors as soon as possible. It’s good to establish yourself within the community and you can get advice on some home repairs like which plumber to use.

Having these as priorities will help you move into a clean, working home. And then, you’re ready to move in with all your belongings and start making it yours!

July 14, 2019

June Real Estate Market Update For York County, SC

Let's dive even deeper than this. Let's begin by looking at a year over year comparison of specific real estate data that will help us understand what our local markets are doing compared to the rest of the country. 

JUNE New Listings:

We start by looking at June of 2017, where we see there were 504 NEW LISTINGS that came on the market. In June of 2018, we find an increase of +8.7 percent with 548 NEW LISTINGS. The following year in June of 2019, we decreased by -0.2 percent with 547 NEW LISTINGS

JUNE Homes for Sale:

We again, start by looking at June of 2017, where we see there were 967 HOMES FOR SALE. In June of 2018, we find an increase of +3.6 percent with 1,002 HOMES FOR SALE. The following year in June of 2019, we decreased by -8.4 percent with only 918 HOMES FOR SALE. 

JUNE Pending Sales:

Let's view June of 2017, where we see there were 419 PENDING SALES. In June of 2018, we decreased by -10.5 percent with 375 PENDING SALES. The following year in June of 2019, we increased by +34.4 percent with 504 PENDING SALES. 

JUNE Median Days on Market:

Let's view June of 2017, where we see there were 13 MEDIAN DAYS ON MARKET. In June of 2018, we decreased by -15.4 percent with 11 MEDIAN DAYS ON MARKET. The following year in June of 2019, we increased by +18.2 percent to 13 MEDIAN DAYS ON MARKET

JUNE Months Supply of Homes for Sale:

In June of 2017, the MONTHS SUPPLY OF HOMES FOR SALE was 2.9. In June of 2018, we stayed the same at 2.9 MONTHS SUPPLY OF HOMES FOR SALE. The following year in June of 2019, we decreased by -17.2 percent to 2.4 MONTHS SUPPLY OF HOMES FOR SALE. 

So there is your comprehensive LOCAL look at the real estate market. If you are thinking about purchasing a home, please reach out to the Linda Hall Team. We'd love to assist you!!

Posted in Market Updates
June 30, 2019

How To Choose A Home Inspector

So you made an offer and it was accepted. Now, your next task is to have the home inspected prior to closing. Agents oftentimes make your offer contingent on a clean home inspection.

This contingency allows you to renegotiate the price you paid for the home, ask the sellers to cover repairs, or in some cases, to walk away. Your agent can advise you on the best course of action once the report is filed.

How to Choose an Inspector

Your agent will most likely have a short list of inspectors that they have worked with in the past that they can recommend to you. HGTV recommends that you consider the following five areas when choosing the right home inspector for you:

1. Qualifications – find out what’s included in your inspection and if the age or location of your home may warrant specific certifications or specialties.

2. Sample Reports – ask for a sample inspection report so you can review how thoroughly they will be inspecting your dream home. In most cases, the more detailed the report, the better.

3. References – do your homework – ask for phone numbers and names of past clients who you can call to ask about their experiences.

4. Memberships – Not all inspectors belong to a national or state association of home inspectors, and membership in one of these groups should not be the only way to evaluate your choice. Membership in one of these organizations often means that continued training and education are provided.

5. Errors & Omission Insurance – Find out what the liability of the inspector or inspection company is once the inspection is over. The inspector is only human, after all, and it is possible that they might have missed something they should have seen.

Ask your inspector if it’s okay for you to tag along during the inspection. That way they can point out anything that should be addressed or fixed.

Don’t be surprised to see your inspector climbing on the roof or crawling around in the attic and on the floors. The job of the inspector is to protect your investment and find any issues with the home, including but not limited to: the roof, plumbing, electrical components, appliances, heating & air conditioning systems, ventilation, windows, the fireplace and chimney, the foundation, and so much more!

Bottom Line

They say, ‘ignorance is bliss,’ but not when investing your hard-earned money into a home of your own. Work with a professional who you can trust to give you the most information possible about your new home so that you can make the most educated decision about your purchase. Contact the Linda Hall Team as we will gladly assist you in the purchase of your next home!

June 13, 2019

May Real Estate Market Update For York County, SC

Let's dive even deeper than this. Let's begin by looking at a year over year comparison of specific real estate data that will help us understand what our local markets are doing compared to the rest of the country. 

May New Listings:

We start by looking at May of 2017, where we see there were 506 NEW LISTINGS that came on the market. In May of 2018, we find an increase of +3.4 percent with 523 NEW LISTINGS. The following year in May of 2019, we increased by +15.7 percent with 605 NEW LISTINGS

May Homes for Sale:

We again, start by looking at May of 2017, where we see there were 957 HOMES FOR SALE. In May of 2018, we find a decrease of -3.8 percent with 921 HOMES FOR SALE. The following year in May of 2019, we increased slightly by +0.8 percent with 928 HOMES FOR SALE. 

May Pending Sales:

Let's view May of 2017, where we see there were 382 PENDING SALES. In May of 2018, we increased by +5.0 percent with 401 PENDING SALES. The following year in May of 2019, we increased again by +28.7 percent with 516 PENDING SALES. 

May Median Days on Market:

Let's view May of 2017, where we see there were 15 MEDIAN DAYS ON MARKET. In May of 2018, we decreased by -13.3 percent with 13 MEDIAN DAYS ON MARKET. The following year in May of 2019, we increased by +7.7 percent to 14 MEDIAN DAYS ON MARKET

May Months Supply of Homes for Sale:

In May of 2017, the MONTHS SUPPLY OF HOMES FOR SALE was 2.9. In May of 2018, we decreased by -6.9 percent to 2.7 MONTHS SUPPLY OF HOMES FOR SALE. The following year in May of 2019, we decreased by -7.4 percent to 2.5 MONTHS SUPPLY OF HOMES FOR SALE. 

So there is your comprehensive LOCAL look at the real estate market. They say that June is National Homeownership Month and so if you are thinking about purchasing a home, please reach out to the Linda Hall Team. We'd love to assist you!!

 

 

Posted in Market Updates
June 13, 2019

Features That Can Help Your Home Sell Faster

When you renovate your home, you want to get the most bang for your buck. Not only do you want to make your home a better place for you and your family to live, but you also want your renovations to add to your home’s resale value.

But what, exactly, are the features that will help your home sell faster?

According to recent data from Realtor.com (which analyzed more than 1 million single-family listings), the top three renovations that will help you sell your home quickly and at a prime price point were:

1. A chef’s or gourmet kitchen.

Gourmet Kitchen - 204 Cattle Ridge Road, Waxhaw, NC $970,000

 

2. A home gym.

Rustic Home Gym - "29 Creative Home Gym Ideas - The Spruce"

 

3. A theater room.

Beam Me Up, Scotty - How To Build a Home Theater, HGTV

These renovation projects were named the “most profitable home features for sellers banking on quick sales.”

Those three features were deemed the most profitable. But they weren’t the only renovations that helped homes fly off the market. Also included on the list of features that will help your home sell faster include a three-car garage (#4), solar panels (#5), a home office (#9), and an in-ground pool (#10).

The Bottomline -

If you’re thinking about renovating and adding features to your home, you’re going to want to think about your return on investment and choose a renovation that’s going to help your home sell quickly and profitably.

June 5, 2019

Choosing the Winning Offer

Congratulations, you have multiple offers on your home listing. It’s exciting to hear that you have a choice in buyers. Yet how can you make sure that you choose the right offer? With varying sales prices and terms, comparing offers might be harder than you expected. Still – it’s a great problem to have.

If you find yourself in a multiple offer situation, the first step is to meet with your agent to discuss each offer in detail. What are the actual differences? It’s easy to see what price they offer, but what about the other items – the terms, the financing, the contingencies.

Sales Price – This is the easiest to compare. Start with the sales price and then check to see if they are asking for extra concessions; these could include seller credits or paying for closing costs.

Terms – Determine when the buyer intends to close and when they want occupancy.

Financing – Financing can vary dramatically and affect your decision in choosing a buyer. For instance, a buyer who offers a slightly lower price but is going to put 50% down might be a better offer than someone using an FHA, 3.5% down loan which could be harder to close.

Contingencies – Most offers come with contingencies for items such as inspections, appraisal, loan approval and more. An offer with fewer contingencies, or shorter time frames to remove them, could be a better offer than others.

Working with your agent, consider all the elements which go into an offer; then you’ll be in the best position to determine the best option for your financial goals, timeframes, and needs

June 5, 2019

Remodeling for High ROI

Is your house a little dated? Do you want to make some improvements or upgrades but also want to make sure that you get the best bang for your buck if you decide to sell? Not all home improvements bring a good return on investment when selling, so unless the improvement is simply for your own style and enjoyment, choosing projects with higher ROI just makes sense.

Home Improvements with High ROI

  • Add square footage – The best return on investment is adding space. Converting an attic or basement into a family room, adding a room or bathroom or even installing a garden room or outside kitchen will bring solid returns when selling.
  • Bathroom and Kitchens – Remodeling a bathroom or kitchen will always bring more than their cost when selling. Create simple and soothing environments where a future owner can imagine themselves using and avoid heavy period-style cabinetry and surfaces.
  • Doors and Windows – Upgraded doors and windows can really add impact to a room. Not only do current options save energy, they come in a wide variety of styles and finishes to accentuate the space.
  • Garage Doors – If you have an old or weathered garage door, this is a relatively inexpensive way to dress up your home.
  • Paint – Fresh paint is inexpensive and makes the home appear new and modern. Choose calm tones which compliment any décor.

Regardless of whether you’re considering a weekend project or a major remodel, understanding the return on your investment can help you make the best choice for your project. Home improvements can be costly and if you’re considering listing your home for sale in the future, make sure you can recapture your cost.

June 3, 2019

Renting or Selling? What Makes More Sense?

It's a personal decision on whether one chooses to rent or sell their home, but we would like to discuss the reasons you may not wish to rent your home. Let's start with becoming a landlord for the first time.  

Becoming a landlord can come with a whole slew of challenging responsibilities. For one, you will still be responsible for repairs. Also, insurance, taxes, and advertising can become costly. Another factor is you will have little control over the people who live in your home. You may end up with tenants who don't pay on time or diminish the condition of your home that you have worked so hard to keep up. Even if you get the best of tenants, they will not care for your home the way you do. 

You could avoid these burdens associated with renting if you opt to sell instead. We know the selling process can be stressful, and there will be some effort required on your part, but when you sell, then that's the end of it. You won't have to deal with strangers living in your house who might be causing damage and thereby reducing the home's value. You also would not have the stress of answering your tenants' calls for maintenance and repairs. 

One of the central reasons people opt to sell their home is to generate enough cash to cover the down payment on their next property purchase. Having a more significant down payment gives you greater leverage to acquire the home you want in the area of your choosing. 

Take some time to consider your options and weigh the pros and cons of each side. Enlist the Linda Hall Team's help as we might be able to guide you with a better deal than what you expected going it alone. 

 

May 23, 2019

April Real Estate Market Update For York County, SC

Let's dive even deeper than this. Let's begin by looking at a year over year comparison of specific real estate data that will help you understand the current market. Let's get started!

April New Listings:

We start by looking at April of 2017, where we see there were 467 NEW LISTINGS that came on the market in April. In April of 2018, we find an increase of +12.6 percent with 526 NEW LISTINGS. The following year in April of 2019, we increased slightly by +3.8 percent with 546 NEW LISTINGS.  

 

April Homes for Sale:

We again, start by looking at April of 2017, where we see there were 911 HOMES FOR SALE. In April of 2018, we find a decrease of -4.1 percent with 874 HOMES FOR SALE. The following year in April of 2019, we increased slightly by +1.8 percent with 890 HOMES FOR SALE.  

 

April Pending Sales:

Let's view April of 2017, where we see there were 372 PENDING SALES. In April of 2018, we increased by +18.8 percent with 442 PENDING SALES. The following year in April of 2019, we increased again by +9.3 percent with 483 PENDING SALES.  

 

April Median Days on Market:

Let's view April of 2017, where we see there were 17 MEDIAN DAYS ON MARKET. In April of 2018, we decreased by -11.8 percent with 15 MEDIAN DAYS ON MARKET. The following year in April of 2019, we increased by +13.3 percent to 17 MEDIAN DAYS ON MARKET, which was the same as April 2017.  

 

April Months Supply of Homes for Sale:

In April of 2017, the MONTHS SUPPLY OF HOMES FOR SALE was 2.7. In April of 2018, we decreased by -7.4 percent to 2.5 MONTHS SUPPLY OF HOMES FOR SALE. The following year in April of 2019, we stayed the same at 2.5 MONTHS SUPPLY OF HOMES FOR SALE.  

 

So there is your comprehensive LOCAL look at the real estate market. They say that May is the best time to list a home and if you are thinking about it then please reach out to the Linda Hall Team. We'd love to assist you!!

Posted in Market Updates
May 22, 2019

Interest Rates Are Low. Are You Taking Advantage of This?

 

"Mortgage rates are now sitting at a six-week low," according to BankRate.com. When interest rates increase, families are forced to shelve their house buying plans. On the other hand, lower rates leave more room to negotiate for the dream home you have wanted to purchase. For home buyers, this is the optimal time to look for a more affordable mortgage plan without jeopardizing your financial future. 

 

However, if you think the market is in an upswing and want to wait for prices to come down, you may miss out on these incredible mortgage rates the market is offering today. Industry analysts do not expect a further fall in house pricing or financing in the immediate future. A shortage in both existing and new construction houses means that further price falls are unlikely. 

 

So again, if you have been considering leveling up in the size of your home or even downsizing this is a good time to do that. Today’s markets have some of the best rates in recent times. Don’t hesitate too long as rates won’t stay at their current levels forever. Asses your situation today to see how you might take advantage of these excellent rates and if you do not have someone to work with then the Linda Hall Team would like to recommend Liz Ciardi of PrimeLending, Charlotte, NC. She's the best!!