In this Issue
October Market Update
Mortgage Rates Move Higher
Purchasing in October
Search For Homes
House Plans Radio
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The Buyer's Broker of Greenville  

   The Buyer's Broker, Inc.
   Keith Clark  Broker/Owner
www.GreenvilleBuyersAgent.com
  Mobile Phone 864-420-0262
    Office Direct 864-271-4114  
 

 County Bank Logo    

 Call JD Nelson at 864-331-2212

AskJD@CountybankMortgage.com

CountybankMortgage.com 

    



Helpful Hyperlinks
Dear , I hung out with the "Hipsters" this month and I'm still trying to decide if they are as cool as they think they are. My nephew is a principle at Methodical Coffee and he got married this month at their roasting warehouse on the Westside of downtown. The ceremony was moving and all that a marriage ceremony should be, in fact it was as much fun as any wedding I've ever attended. The food was done by the chef from a new Village of West Greenville restaurant called Anchorage and the attire was all hipster except for me and I was 1970's cool. Is all this really Greenville, SC?

I hope you enjoy this month's newsletter and I hope you will forward it to your friends, family, and colleagues who may be thinking about buying a home in the Upstate. All my best, Keith (864-420-0262)

October Market Update  

The September numbers continued to be consistent with what has been happening all year. The number of transactions increased 6.5% month over month and year-to-date was almost exactly the same. The shortage of inventory is causing multiple offers and sometimes sales price above listing price. New housing starts last month were at the highest level in four years and some of the inventory shortage should ease sometime next year. (Hopefully)   

   

1.  Cumulative MLS Statistics 

 

2. September MLS Statistics

 

3. Year to Date MLS Statistics   

 
  

We at The Buyer's Broker believe the more you know, the more you will want The Buyer's Broker of Greenville to represent you in your next real estate transaction.
The 30-year fixed-rate mortgage moved a solid 5 basis points to 3.52 percent while the 10-year Treasury yield remained relatively flat. This is the first week in over 4 months that rates have risen above 3.50 percent. This month, mortgage rates seem to be catching up to Treasury yields and returning to pre-Brexit levels.
  • 30-year fixed-rate mortgage (FRM) averaged 3.52 percent with an average 0.5 point for the week ending October 20, 2016, up from last week when they averaged 3.47 percent. A year ago at this time, the 30-year FRM averaged 3.79 percent. 
  • 15-year FRM this week averaged 2.79 percent with an average 0.5 point, up from last week when they averaged 2.76 percent. A year ago at this time, the 15-year FRM averaged 2.98 percent. 
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.85 percent this week with an average 0.4 point, up from last week when it averaged 2.82 percent. A year ago, the 5-year ARM averaged 2.89 percent.
Making the decision to buy a home is very complex. While location is arguably the most important factor, timing may also have a big impact on what you pay. According to new research, the best month for buyers is October. And the best day of the week is Monday. And the single best day on the calendar is October 8. I don't really believe this because every situation is different, every house is priced differently, and every Seller has different motivation. The key to purchasing the right home, at the right price, on the right terms is knowing how to evaluate property in the context of the current market conditions and local demographics. I would say that if you wait until Spring to buy you are probably going to pay more! Sitting on the sideline will cost you some money!
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Searching for homes online can be frustrating and time consuming. You can learn more about the Upstate real estate market in a phone conversation with me than you can learn surfing the internet for days, weeks, and months. If you would like to know exactly what the local market has to offer and the who, what, where, when, and why about purchasing a home in Greenville, call me today!

House Plans Radio Show 

Listen to me on the radio every Saturday morning on House Plans. "House Plans" airs live on WORD, 106.3 FM locally from 8:00AM until 9:00 AM. JD Nelson, Chris Roberts, (Countybank Mortgage) and I discuss local, state, and national real estate issues along with a variety of mortgage topics. The debate is lively and callers engage the hosts with local real estate questions. You'll learn all about the current real estate and mortgage market.
Click Here to Listen a Recent Show