Talking about the latest news from LPS about foreclosures, mortgage delinquencies and home prices compared to Upstate South Carolina. And much more…
Mortgage Delinquencies and Foreclosures Down
LPS just reported that the number of people behind on their mortgages (mortgage delinquencies) is down to 7.03% in October 2012 from 7.58% in October 2011. They are also reporting that that the number of homes in the foreclosure process decreased to 3.61% in October 2012 from 4.3% back in October 2011.
These numbers are for the entire US and not just real estate in Upstate South Carolina. I posted a home on Google Plus the other day and a REALTOR friend from the suburbs of DC told me that a similar home in his area would cost about 3X as much! Always remember that real estate is local and national real estate news stories do not always tell you everything you need to know about your local market.
US Home Prices Up 3.6% But What About Upstate South Carolina?
Another tidbit from LPS is that US home prices increased 3.6% if you compare September 2012 to September 2012. As I just mentioned, we have to look locally to see what buyers and sellers in Upstate South Carolina need to know:
These numbers are for the entire WUAR MLS for October 2012 and do not reflect what is realistic or possible for every property. If you have more specific questions you can Contact Me!
Standing in a Closet to Sell a Home
Selling a home but don’t want it on the MLS? Consider this:
If you are serious about selling your home, then you will want it exposed to the maximum number of potential buyers. If a REALTOR or real estate agent does agree to one of these types of situations, they MUST make sure the seller understands they are hurting themselves. I am not saying pocket listings never sell. Instead I hope you will understand that when I say something is not a good idea, it is because I know what it takes to sell real estate.