Upstate Market Reports 
June 2015
2Q2015 Outlook
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
Summary
  
HEADED FOR ANOTHER RECORD YEAR
  
We are headed for another banner sales year for Lake Keowee Homes. June saw the sale of 28 such homes for an aggregate of  $13,009,974.  Although down about 5% from sales volume of the prior month of May 2015 and about 14% less that experienced a year ago in June 2014, it was still a credible performance leading me to project total sales for 2015 to come in at about $137,000,000 a modest yet welcome 2% growth over the record breaking 2014 ... Read on.  Download the complete report for homes.
 
Lake Keowee Waterfront Lots
Summary
 
THE REAL TEST IS COMING
   
June was a solid month for closing the sales of Lake Keowee Waterfront Lots.  The Western Upstate Multiple Listing Service reported that June delivered 16 such lots to new owners who paid in turn about $4,580,000 to tie up boats in their backyards and gaze across the waters of Lake Keowee.  These sales were more than double those experienced in the preceding month of May 2015 and up about 35% from those of June 2014, a year ago ... Read on. Download the complete report for lots.
 
Short Sale, Foreclosure and Bank Owned
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.

 

 

Eldon Blust

1st Choice Realty

Post Office Box 2050

Seneca, South Carolina  29679

 

(864) 886-1040


Upstate Market Reports and this email are deemed reliable, but not guaranteed. None of Integrity Realty, Inc., its associates and employees shall be liable for errors or omissions in the Reports or this email.  Please conduct your own independent research.

Upstate Market Reports and this email Copyright 2015 Eldon Blust. all rights reserved.

For more information visit us Online 

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Eldon Blust
1st Choice Realty
Post Office Box 2050
Seneca, South Carolina 29679

(864) 886-1040



 

 Explore short sales, foreclosures and bank owned properties