171: What happens when the Fed becomes partisan?
The Federal Reserve is the last ultra-powerful part of the US government that hasn't become subject to Republican or Democrat partisanship. But with how much impact the Fed has on the economy - and specifically on real estate - it seems obvious that politicians will imminently turn the Fed into a partisan institution, much like what has happened with the Supreme Court in recent decades. This co...
31m Jun 07, 2023
31m
170: Summer Real Estate Vibes
Mortgage rates recently eclipsed 7%, and the real estate market was not happy. A lot of activity has slowed down as potential buyers decide to wait it out to see whether rates will come down. But is it even reasonable to expect rates to come down any time soon? And if we are entering a multi-month season of 7%+ mortgage rates, how will that impact the market? These are a few things on my mind g...
25m May 31, 2023
25m
169: Anti-development NIMBYs and why they're wrong
As real estate has become more politicized, people who are against developments happening near them (known as “NIMBYs”, which is short for “Not In My Backyard”) have proven to be a major political force in the Greenville area. Their concerns vary from believing Greenville is turning into Charlotte, NC, to concerns that our infrastructure can’t maintain more developments, to concerns that “we ne...
38m May 24, 2023
38m
168: Hao Wu on How to Achieve a "Four Hour Work Week" via Real Estate
Hao Wu is a real estate investor in Greenville, SC who has found a way to "crack the code" on how to utilize real estate to achieve a "Four Hour Work Week" (to borrow from Tim Ferriss's phrase and popular book). In this wide-ranging discussion, we talk about his path from China to the military to Greenville, how he got into real estate investing, and how he has oriented his life and investments...
1hr 11m May 17, 2023
1hr 11m
167: Comparing 2023 real estate to the RE market in 2008-2020
In June 2022, when the post-pandemic housing recession began, we discussed on Selling Greenville what it looks like to invest in a shifting market, and we did this by looking back at what the real estate market looked like at various points in time between 2008-2020 in order to reverse engineer what real estate in 2023 and beyond might look. Well, now that we’ve experienced nearly a year of a h...
36m May 10, 2023
36m
166: Looking back at Stan's 10 bold predictions for 2023
We now have over a quarter of 2023 real estate in the books, and it's time to review our bold predictions episode from January! Which predictions missed the mark, which ones have already hit, and which ones are looking good to hit (or not)? It was fun going back and looking at predictions made 4 months ago and how that compares to the current data.  As always, if you have any questions or comm...
28m May 03, 2023
28m
165: Prices continue to climb even as the market stabilizes
Looking at the most recently released Greater Greenville Association of Realtors Market Stats, we see a local real estate market that is stabilizing in a way that disproportionately benefits sellers. All the news is about how real estate is slowing down, but that's simply not the case (at least not yet) in the Greenville market. With tight inventory and a seasonal uptick in demand, prices conti...
30m Apr 26, 2023
30m
164: Why homebuyers should consider new construction
Buying new construction might sound like a pipe dream to many, but with over half of homes currently for sale being new construction, combined with the fact that builders are offering some pretty crazy incentives to buyers, going the new construction route actually makes a lot of sense for many buyers. But building a new home is vastly different than buying an existing home, and there are many ...
41m Apr 19, 2023
41m
163: The Do's and Don'ts of Extended Family in Real Estate
Involving extended family in a real estate transaction can be a blessing... or a curse. In many cases parents, grandparents, siblings, etc. play an integral role in real estate choices that people make, but it's important to understand where it could be helpful to place boundaries in terms of involving them and factoring them into a home purchase or sale. So let's discuss 5 dos (and don'ts) of ...
44m Apr 12, 2023
44m
162: We are in a housing market recession but one completely unlike 2008.
It's time to state the obvious: we are in a housing market recession. Home sales are down to their lowest levels since the Great Recession. (Yes, even lower than they were during COVID lockdowns!) And yet, if you're trying to buy in this market, it doesn't feel like a recession. Where are all the cheap houses? Where are the foreclosures? And why is it that everyone on Twitter seems so angry whe...
40m Apr 05, 2023
40m
161: Harnessing ChatGPT for Real Estate
ChatGPT, an artificial intelligence language tool, is all the rage right now, but can it be used for real estate? For those who don't know programming languages, the capabilities are pretty limited, but there are some interesting and useful datapoints that homebuyers and sellers can gather from chatting with ChatGPT. In this episode of Selling Greenville, Stan enters live questions into ChatGPT...
45m Mar 29, 2023
45m
160: Looking at newly released stats - a LOT changed in February
The Greater Greenville Association of Realtors released its market stats through the month of February, and there are some juicy tidbits in here. Prices flatlined YoY, inventory went up but remained low, and pending sales and closings showed surprising strength. But more importantly, there were a lot of big changes versus previous months that warrant our attention. As always, if you have any q...
37m Mar 22, 2023
37m
159: Interview with Mortgage Executive, Derek Horton
At long last, we finally have an interview! In this episode, Stan chats with Derek Horton, Senior VP and Mortgage Executive with Southern First Bank. In this wide-ranging interview, we discuss what it's like being in the mortgage world during such a crazy market, what it's like for loan officers to work with good (and bad) realtors, where mortgage rates are heading, and what all of this means f...
1hr 2m Mar 15, 2023
1hr 2m
158: 8 trick questions to ask "investor friendly" realtors
Investing in real estate is as popular as ever, and at some point, every investor needs a realtor to help them out. But not every realtor who claims to be "investor friendly" truly understands real estate investing. So how do we sift the wheat from the chaff when interviewing realtors? Sometimes trick questions can reveal how knowledgeable a person truly is on a subject, and real estate investi...
32m Mar 08, 2023
32m
157: How the "new" Due Diligence contract is going + more changes and new addenda coming
We now have over half a year of the main purchase agreement for residential real estate in SC (known as SCR310) handling inspection periods on a "due diligence" basis. When this change was made in 2022, it sent shockwaves through the Greenville real estate market, as buyers, sellers, and realtors were forced to adapt overnight to a new way of approaching home inspection periods and repair negot...
39m Mar 01, 2023
39m
156: Where is the market trending?
Right now a lot of major news publications are generating headlines that would lead people to believe that the real estate market is crashing. The reality is that the market is contracting (there are fewer closings) but, in Greenville at least, we haven't yet seen prices go down to an unseasonal level. At least not yet. Let's dig into the numbers on where the market stands now that we have the ...
33m Feb 22, 2023
33m
155: My experience with smart home systems and Apple Home
Smart home systems have become a major part of every day life, from smart thermostats, to doorbell cameras, to smart locks, etc. But it's easy to compile a bunch of devices together from different "ecosystems" without taking full advantage of the voice control and "scenes" offered by Amazon Alexa, Apple Home (i.e., Siri), etc. So when I (Stan) moved this past year, I decided to rethink my smart...
33m Feb 15, 2023
33m
154: Statewide changes to SC real estate are coming
There are a lot big things in the works in the SC State House, ranging from potential state-wide allowances of Airbnbs to (finally) eliminating discriminatory deed restrictions, and everything in between. There is a lot happening that impacts real estate, and it's worth talking about!  As always, if you have any questions or comments (or, of course, need a realtor), feel free to reach out to S...
28m Feb 08, 2023
28m
153: iBuyers found "naked in the water" while mom and pop house flippers thrive
Warren Buffet once said, "Only when the tide goes out do you discover who's been swimming naked." Well, according to a recent Bloomberg article (link below), the real estate tide has gone out, and now we see several iBuyers have been swimming naked. In Q4 one of the most prominent iBuyers, OpenDoor, lost money on at least 89% of its real estate transactions in Phoenix, AZ! On the flip side (no ...
27m Feb 01, 2023
27m
152: Notes from the annual Housing Market Forecast
The Homebuilders Association of Greenville held its annual Housing Market Forecast conference this past week, and there were plenty of interesting nuggets to take away from it. A few things that were discussed there were: -The point at which higher mortgage rates dramatically impact buyer behavior -Why and how the media inaccurately portrays real estate prices as going down. -Why the real esta...
41m Jan 25, 2023
41m
151: When numbers lie: a final look at 2022
Looking back at the final numbers published for 2022 by the Greater Greenville Association of Realtors, one thing becomes clear - we have to rethink how we evaluate market statistics. Some numbers are returning to "pre-pandemic norms," but it certainly doesn't feel like the pre-pandemic market did. In reality, we're entering another "new normal," and we have to adjust our thinking accordingly. ...
33m Jan 18, 2023
33m
150: How much does a nice neighborhood impact home prices?
Neighborhood and community amenities have been all the rage the past two years to the point that some are willing to sacrifice on home quality to be in a neighborhood that offers great amenities, such as a pool, common areas, sidewalks, playgrounds, etc. But at the end of the day, is there a way to actually quantify the impact that community amenities have on home prices? Not entirely, but a ca...
35m Jan 11, 2023
35m
149: 10 Bold Predictions for 2023
Have we ever entered a new year with as much uncertainty about the real estate market as we do entering 2023? Certainly not since 2007-2009. Obviously, nobody knows what the new year will bring, but that doesn't mean that we can't speculate on what might happen. And so here are 10 bold predictions on what will happen in 2023, discussing everything from mortgage rates, to the pending recession, ...
37m Jan 04, 2023
37m
148: Reviewing 2022 and Previewing 2023
The year 2022 was a tale of two very different half-years of real estate. In a few, short months, we went from tons of homes coming on the market each week and tons of people bidding on them to suddenly much fewer homes coming on the market and not nearly as many people making offers. This poses some challenges for predicting what 2023 will be like. Will we be going into recession? If so, how s...
28m Dec 28, 2022
28m
147: Greenville Area Overview Part 4: TR, Taylors, Mauldin, Piedmont, and Easley
Wrapping up our mini-series overviewing the Greater Greenville area of SC, there are several important areas that deserve to be covered: Travelers Rest, Taylors, Mauldin, Piedmont/Powdersville, and Easley. The Upstate of SC is about so much more than the city of Greenville, and in this episode, we talk about all the areas that we haven't so far, discussing the perks, amenities, and potential do...
33m Dec 21, 2022
33m
146: Greenville Area Overview Part 3: Simpsonville
Similar to Greer, Simpsonville is a massive geographic area with a downtown, suburban areas (such as Five Forks), and plenty of rural areas. Greenville County's primary amphitheater, its only IMAX theater, and numerous other important parts of the county find their home within Simpsonville. And, of course, a lot of people find their home in Simpsonville because of how much it offers for residen...
33m Dec 14, 2022
33m
145: Greenville Area Overview Part 2: Greer
As we overview the various parts of the Upstate, the first that comes to mind outside of Greenville proper is Greer - a city located half in Greenville County and half in Spartanburg County. Previously an extremely rural part of the Upstate with a ho-hum downtown, Greer has been transformed the last 20 years into one of the Upstate's most desirable downtown and suburban areas, while still havin...
25m Dec 07, 2022
25m
144: Greenville Area Overview (Part One)
Like any city, Greenville has numerous different residential areas and neighborhoods, each with their own "feel," price point, and amenities. In this episode, Stan breaks down these different areas to help those looking to move to (or within) Greenville better understand what to expect in the various neighborhoods within the Greenville metro area.  As always, if you have any questions or comme...
49m Nov 30, 2022
49m
143: The 2022 Thankfulness Episode
As I (Stan) reflect back on the past year or so of real estate in Greenville, it's easy to get overwhelmed by all the chaos. But there is much to be thankful for, and during this week of Thanksgiving, I want to do just that. And to be clear, more than anything, (at least when it comes to real estate) I'm thankful for you guys - my listeners and clients. (Oh, and I also go on a little rant abou...
40m Nov 21, 2022
40m
142: Real estate inventory returns to pre-pandemic levels
Looking at the Greater Greenville Association of Realtors' market stats for the month of October brings us to our first evidence of the real estate market returning to a pre-COVID norm: the number of homes on the market to end the month were comparable to 2017-2019. Common sense would indicate that number will increase, but is that what the data says? And are prices "going down" yet? We delve i...
34m Nov 16, 2022
34m
141: Price reductions are happening en masse
Several months ago I predicted that a lot of people overpricing their homes for sale would get left out in the cold. Well, those people are starting to shiver, as we see massive numbers of home sellers having to reduce the prices of their homes for sale. How does this compare historically to other markets, and what does it mean for those buying and selling real estate right now? That's the topi...
33m Nov 09, 2022
33m
140: The (Not) "Real Ones" In Real Estate Investing
There are a lot of real estate investors (both in Greenville and elsewhere) who pose as high volume investors, when in reality they either only do part-time real estate investing or, in some cases, don't invest at all. Oftentimes these "investors" are looking to get something out of rookie real estate investors - trying to find an angle where they can look like an expert so that those looking t...
32m Nov 02, 2022
32m
139: The market shifts, but home prices continue to soar
Home prices are going down in the US but not in Greenville (not yet, at least). Home prices were up 17.5% year-on-year for the month of September, which is shocking given the shifts occurring in the market, including soaring inventory, higher days on market, and lower percent of list price received. What does all this mean, and where is the real estate market headed in the upcoming months?  As...
31m Oct 26, 2022
31m
138: 10 things non-SC people say about Greenville
It's always interesting to hear what non-South Carolinians say about Greenville when they visit for the first time. Almost all of the visitor comments are positive, although everyone complains about the gross "palmetto bugs" that we have. Bugs aside, there is a lot to learn (and be reminded of) when it comes to Greenville by looking through the eyes of first-time visitors. So let's talk about 1...
20m Oct 19, 2022
20m
137: Multifamily investing has changed drastically since 2017
Over the past 5 years, the cost of purchasing small multifamily properties in Greenville has doubled. So have rents kept up? And should we be concerned that there is a multifamily bubble that will soon burst?  As always, if you have any questions or comments (or, of course, need a realtor), feel free to reach out to Stan McCune directly by phone/text at (864) 735-7580 or by email at smccune@cd...
37m Oct 12, 2022
37m
136: Weathering the Greenville storms
The weather in Greenville is mild compared to some parts of the US, but that doesn't mean that we are immune from bad storms. And with storms comes damage to houses, whether from flooding, from wind, from hail, etc. Sometimes the damages are covered by insurance, but many times it is not, and it's important to know what risks are out there, what you can do about them, and what might happen if y...
33m Oct 05, 2022
33m
135: Home prices are "going down." But is it seasonal?
As discussed last week, the real estate market is shifting and a "slowdown" is upon us. But one of the major quirks of the housing market the past two years is that seasonal slowdowns basically haven't happened, whereas in a normal market, things do slow down in the fall/winter. In other words, in a normal, healthy real estate market, housing prices go down during the fall/winter months, and th...
22m Sep 28, 2022
22m
134: Massive Shifts Happening in Greenville's Real Estate Market
As we've been saying for months now, big changes are coming to the real estate market, and those changes are finally upon us. Inventory numbers are now hovering just below pre-pandemic levels, percent of list price received is at it's lowest point since early 2021, and listings that were getting multiple offers in August aren't getting any offers in September (at least not immediately). So are ...
42m Sep 21, 2022
42m
133: Stan's story: How I got into real estate
The story of how Stan got into Greenville real estate is a winding tale that goes from a teacher ruining his love for meteorology, to him getting a scholarship to study Bible at Bob Jones University, to him having a child within his first year of marriage, to him buying a frozen yogurt shop (and much more). The time has come to tell the full story.  As always, if you have any questions or comm...
35m Sep 14, 2022
35m
132: If you want to avoid HOAs in Greenville... good luck
Most people would rather not live in a community governed by a homeowner's association (HOA), but the vast majority of residential development in Greenville the past 20-30 years has been HOA communities. So what are the pros and cons of living in an HOA, and if you want to avoid HOAs, what do you need to do?  As always, if you have any questions or comments (or, of course, need a realtor), fee...
23m Sep 07, 2022
23m
131: SC's new contract is causing major changes to real estate
In June the SC Association of Realtors made major changes to the SCR310 - the most commonly used residential real estate contract form in the South Carolina (and Greenville). The inspection and repair section of the contract changed to "due diligence," and we covered those changes in detail in previous episodes of Selling Greenville, prior to it going into use. But now that it's been in use for...
31m Aug 31, 2022
31m
130: What happens when you underprice a listing? (Part 2)
In early 2021, we looked at what happens when a home is listed for sale well below what it's worth. Well, a lot has happened since then, and in light of the shifting market, it's worth analyzing further whether underpricing a listing is a strategy worth exploring or not. Does the real estate market automatically correct for a house listed for less than it's worth, or do buyers risk losing money...
28m Aug 24, 2022
28m
129: Supply is up. Demand is down. But is anything actually changing?
The Greater Greenville Association of REALTORS® published July's market stats the past week, and the numbers take us for a wild ride. Supply is up and demand is down, which usually indicates the market shifting in a buyer's direction. But the median sales price still soared to the highest it's ever been - a 19.8% year-on-year increase! What will it take for the market to actually see a cool dow...
30m Aug 17, 2022
30m
128: The latest jobs report and what it means for real estate
Figuring out what will happen in the future of real estate often involves reading the tea leaves of some of the reports released by the government, including those about how many jobs were added (or lost) in the past month, quarter, etc. This past week, July's jobs report was released, and, shockingly, a substantial number of jobs were added to the economy, further complicating the picture on w...
22m Aug 10, 2022
22m
127: House Flips and Fines - the inner workings of large house flipping corporations
The past two years we've seen a large influx of activity by corporations, whom some refer to as "iBuyers," buying and flipping houses in the Greenville area. Opendoor, Offer Pad, Zillow, etc. are just a few that have attempted or are still attempting to flip houses in Greenville. But how do they work, and what is it like dealing with them? And didn't one of them just get fined $62,000,000 by th...
32m Aug 03, 2022
32m
126: Is real estate investing fueling the hot market?
There are a lot of misconceptions about real estate investing and the impact it has on the market. Some people complain that investors are basically solely responsible for home prices skyrocketing in recent years, and others think they haven't made that big of an impact, with a lot of opinions in between. Core Logic produced some great data (which you can see here (https://www.corelogic.com/int...
20m Jul 27, 2022
20m
125: June market stats show shifting winds of change
Greenville real estate supply is going up, and demand is going down. But it is still very much a seller's market, as prices continue to soar, homes are selling above list price, and average days on market is at record lows. But there are plenty of indicators that tell us the market is cooling, and we should see the impact of that in the coming months.  As always, if you have any questions or c...
31m Jul 20, 2022
31m
124: How to get your PMI dropped YEARS ahead of schedule
Almost any mortgage in which the buyer doesn't pay a minimum 20% down payment has "mortgage insurance," typically referred to as PMI (or MIP). This is simply an additional fee that the lender requires you to pay until you reach 20% equity in your house. But the 20% equity is calculated based on what your home was worth when you obtained your mortgage. Guess what? The market has appreciated by 2...
30m Jul 13, 2022
30m
123: How to invest in real estate without purchasing real estate
People frequently ask how they can invest in real estate when they don't have enough money for a down payment to purchase any available properties. The answer is to think creatively and focus on other ways of "investing" in real estate that you either already own, that you own a very small piece of, or that other people own.  As always, if you have any questions or comments (or, of course, nee...
19m Jul 06, 2022
19m
122: Investing in a Shifting Real Estate Market
As we brace for the real estate market to shift over the upcoming months (and years), there are always lessons to be learned from the past. The past 15 years, we've really seen four dominant markets: the Great Recession market (2008-2011), the post-recession market (2012-2015), the pre-pandemic market (2016-mid-2020), and the pandemic market (mid-2020-now). What happens to the future real estat...
43m Jun 29, 2022
43m