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Welcome to the online version of the Upstate Market Reports. The detailed Reports, which describe the Upstate real estate sales market environment, are now produced monthly. Currently, sales transactions involving Lake Keowee Homes (homes in communities bordering on Lake Keowee) and Lake Keowee Waterfront Lots (only lots reported with waterfrontage on Lake Keowee) are included in the Reports.
For your reference, links to the previously published Reports are retained in an archive. Click "Explore archives" to the right. |
| Lake Keowee Homes |
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Summary
Coming on the heals of a robust October, sales of Lake Keowee Homes declined somewhat as expected in November in figures reported by the Western Upstate Multiple Listing Service. A total of eighteen such homes closed escrow generating a little less than $7,600,000 ... Read on. Download the complete report for homes.
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| Lake Keowee Waterfront Lots |
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Summary
LOTS REMAIN PAUSED
Well, it's been a quiet month for waterfront lot sales around our Lake Keowee as the market is still recovering from the massive one-day sale on October 4 of fifty waterfront lots for a total of $8,800,000 in Peninsula Pointe along the lake's western shore.... Read on. Download the complete report for lots.
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| Short Sale, Foreclosure and Bank Owned |
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DISTRESSED PROPERTIES BECOMING LESS OF A FACTOR
Sales of both homes and lots are still influenced by the inventory of distressed properties. But as this inventory declines, these sales are becoming less of a factor in the market. Distressed Properties include Short Sales offered by Sellers, scheduled Foreclosure Sales and Bank Owned Properties offered by lenders.
A "Short Sale" is when the lien holders of property are asked by a Seller to agree to accept less than what they are owed in order to facilitate sale of that property. Such transactions are becoming rare for homes and almost non-existent for lots.
A "Scheduled Foreclosure Sale" is a court-ordered sale of a foreclosed property. These sales are usually conducted monthly by the Clerk of Court of the county in which the property is located.
A "Bank Owned Property" is a property that is owned or controlled by a bank. These include properties that have been foreclosed and properties where an owner has surrendered title to a bank in lieu of foreclosures (in order that both the lender and the owner avoid foreclosure proceedings). The inventory of Bank Owned homes appears to have peaked as the pipeline of homes foreclosure sales has slowed. Lenders, however, still hold a large inventory of lots. This inventory is now available on-line and in near-real-time on the Integrity Realty, Inc. website. The scope of the on-line listings now being provided is broader than Lake Keowee Homes and Lake Keowee Waterfront Lots and sweeps in most of the properties in a given category throughout Oconee and Pickens Counties. Click here to explore Short Sale, Foreclosure and Bank Owned Properties. |
