89: Experiencing the Greenville County Tax Sale
An antiquated process. A little taste of the "Old South." A list of 1,200 properties to analyze. A packed out room with tons of money flowing through it. A flirty, chatty lady next to me in the auction. A dollar store building that sold for $1.625M. And a $600,000 property that sold for $35,000. The 2021 Greenville County tax sale had a little bit of everything, and this episode gives you a lit...
37m Nov 10, 2021
37m
88: Solving Homelessness
For all the progress we've made as a society, we still have a homelessness problem. There are public and private entities that exist to try to end homelessness, but at the end of the day, even with government assistance and a stable job, it can be close to impossible for someone who is homeless to get into a home, particularly if they have a past record of substance abuse, crime, etc. Is there ...
25m Nov 03, 2021
25m
87: Improving Your House? Beware Not to Over-Improve.
Most homeowners improve their homes over the years by updating things, changing cosmetic items, removing walls, purchasing new appliances, installing pools, etc. There is a common assumption that when they go to sell their home, they will get back dollar-for-dollar what they put into the home. By and large that assumption is false. There are some improvements that disproportionately add value t...
27m Oct 27, 2021
27m
86: My Home Warranty FIASCO
Home warranties are polarizing - some people won't buy a house without one. Others have terrible opinions of them. Most realtors will recommend them dozens (perhaps hundreds) of times over their careers without ever actually using one themselves. However, I (Stan) decided to put my money where my mouth was and purchased a home warranty last year to see what it would be like. The result? It was ...
47m Oct 20, 2021
47m
85: How to Quickly Identify a Novice Investor from an Experienced One
There are lot of people trying to learn how to invest in real estate for the first time, and you can identify the "newbies" immediately by the questions they ask and by how they approach real estate in general. It's not easy to learn to think like an experienced investor when you don't have experience, but there are some general principles that new investors can apply to their mindset to learn ...
26m Oct 13, 2021
26m
84: Don't buy a house sight unseen. But if you do, here's how to do it.
Trust me - you don't want to buy a house sight unseen, and most people will never even be put in a situation where they could. But there are some unique situations, particularly for investors, where sight unseen types of purchases present the best opportunities. So what can you do to minimize the risk of buying something as large and expensive as a house without first seeing it? In this week's ...
18m Oct 06, 2021
18m
83: Purchasing a house "as is" is risky, but it may be necessary
With the real estate market being as competitive as it is, many buyers find themselves having to waive contingencies to get an offer accepted. One of the most controversial of these is the inspection contingency. Technically, you always have a right to inspect (at least when using the standard "Form 310" contract that Realtors in Greenville use), but if you check the "as is" box, you are statin...
25m Sep 29, 2021
25m
82: Market Update: Is It Time to Panic?
There is a lot of muted panic right now over whether the real estate market has slowed down. The truth is that yes, it has slowed down, but the full reality is that this slowdown was both predictable and is (arguably) healthy. The real estate market is shifting but it's doing so slowly and seasonally and does not appear to be swinging drastically in a way that will cause a recession, mass forec...
34m Sep 22, 2021
34m
81: How to avoid buying a bad flip house
Thanks to various house flipping shows and the fact that we've had nearly 10 years of a seller's market, pretty much anyone and everyone thinks they can flip a house. As a result, there are a lot of homes being remodeled by people who have never done a house remodel before. Oftentimes, these novices think you can just replace flooring and paint and then sell a home for $50,000 more than you bou...
31m Sep 15, 2021
31m
80: Listener(s) Question: "Should I become a REALTOR?"
"Should I become a REALTOR?" It's a question those of us in the industry get quite a bit, and some take offense to it. Taking offense to the question might be excessive, but we do need to be honest about what the job entails and what it doesn't, for those who have considered getting into it. After all, 90% of licensed real estate agents are out of the industry within 5 years, so it isn't quite ...
36m Sep 08, 2021
36m
79: Beware the Greenville Clipboard Warriors
Greenville - both the County and the City - have "clipboard warriors" going around and looking for people who are doing work on homes without getting the work permitted. This might seem like a good thing, but oftentimes it does more harm than good. One person recently revealed that he was fined $25,000 and made to write letters to people he had sold homes to in order to let them know he hadn't ...
22m Sep 01, 2021
22m
78: When it comes to home values, size matters. But not in the way you think it does.
Bigger homes always sell for more money than smaller homes, right? In some ways, yes, but in some ways no. More specifically, when it comes to assessing the longterm investment potential of a home, it's a major error to assume that a bigger home is a better investment than a smaller one. Oftentimes in the long run the exact opposite is true. Smaller homes are some of the best real estate invest...
30m Aug 25, 2021
30m
77: Airbnb vs. Long Term Rentals. What do you need to know?
Owning a short term rental (such as a property marketed and "rented" via Airbnb) is a completely different experience and process than owning a long term rental, but many people don't fully understand how different it really is. A short term rental is more like a business, with more overhead, more work, and (hopefully) more income. But the differences don't just end there - from HOA and city re...
39m Aug 18, 2021
39m
76: The Two Great Fears of Real Estate Investing
Politics fueled by COVID has turned the world of real estate investing upside-down. Is it a great time to buy rental properties and park your money as a safe-haven against hyper-inflation and a potential economic bubble being created? Or is it a terrible time to be a landlord as the federal, state, and local governments all continue to make it difficult to be a landlord? Two factions have emerg...
30m Aug 11, 2021
30m
75: Rumblings of a Slowdown + Best Month to Buy
There have been whispers within the real estate community that a slowdown has happened in recent months. Things are still pretty crazy, but the data does, in fact, show us that things slowed down this summer - a lot, actually. It's hard to draw any major conclusions from this because the slowdown could be seasonal, it could be from "buyer fatigue," or it could be something bigger than that (suc...
21m Aug 04, 2021
21m
74: Appraisers Gone Wild
We've had an insane string of difficult appraisals recently. We're not just talking about low appraisals. We're talking about appraisers not accepting jobs, not scheduling their appraisals, mischeduling them, not getting us the appraisal until the day of closing, etc. It's been ridiculous, and it's what happens when you have an industry where people have more work than they can handle but very ...
43m Jul 28, 2021
43m
73: My Day in Court
Remarkably, despite having quite a few rental properties, Stan has never had to go to eviction court. Until this week. Yes, the streak of not attending an eviction court finally ended, and it was certainly a revealing experience. Did the judge rule in Stan's favor or in favor of the fake tenant who arrived in a new BMW but claims she can't pay rent or afford a moving truck? Check out this (shor...
20m Jul 21, 2021
20m
72: Takeaways from a 15-unit transaction
It's not often that you see a package of 15 condos in Greenville appear on the MLS for all to see, but that's exactly what Stan did in the month of June. And he lived to tell us the tale! In this episode, Stan discusses some of the key takeaways from this unique listing and what insights it gives us into the real estate investing market, not just in Greenville but throughout the US.  As always...
27m Jul 14, 2021
27m
71: The "Dirty Secrets" of Luxury Houses
Each of us thinks of something slightly different when we think of a "luxury home," but when you really start to look at what's on the market in the Greater Greenville area, you find that the luxury housing market is extremely unique. To say it another way, there are a lot of "dirty secrets" out there that most people don't realize when it comes to purchasing some of the more expensive homes in...
29m Jul 07, 2021
29m
70: The "Don'ts" of New Construction
Purchasing new construction can be a great option for many people that are looking for a house that hasn't been lived in or that they can customize, but there tends to be a lot of confusion about new construction. As a result, there are a lot of things you shouldn't do when it comes to buying a new build, and in this episode, Stan focuses on several mistakes buyers typically make that you need ...
18m Jun 30, 2021
18m
69: Negotiating... with your spouse
There is a lot of negotiation that happens in a real estate transaction, but sometimes the hardest is having to "negotiate" with those closest to you. Unfortunately, rarely do spouses, partners, or children and parents see eye-to-eye on what everyone's real estate needs and wants are and whether they can be afforded. Naturally, as a result of this disagreement, a negotiation of sorts ensues bet...
42m Jun 23, 2021
42m
68: Winning the Bidding War
It may feel hopeless buying in a seller's market, but it's not. There are a ton of "bidding wars" and "multiple offer situations," but there are tried and true ways to win them. In this episode, Stan discusses how to manipulate the SCR310 contract form to make your offers more attractive with the goal of coming out on top in a "bidding war" type of scenario.  As always, if you have any questio...
45m Jun 16, 2021
45m
67: Sleepy Gen Xers, the bidding war arms race, and why the market isn't cooling off
The real estate market hasn't cooled off at all. If anything, it's gotten crazier, and there are very few signs it will get better (for buyers) any time soon. At least, that's what it feels like. But what does the data say? In this episode, Stan discusses why real estate in Greenville has gotten even more difficult to purchase lately as buyers engage in an arms race with each other, where we ar...
37m Jun 09, 2021
37m
66: The listing from hell
Buyers immediately backing out after signing everything. Neighbors getting (angrily) woken up to loud alarms for hours on end. HOAs not doing repairs they are required to do. Lenders being changed multiple times mid-transaction. Appraisers having to be broken into the property via a locksmith. Underwriters rejecting appraisals and HOA financials. Contractors being cussed out by neighbors and th...
1hr 8m Jun 02, 2021
1hr 8m
65: Formulas for valuing time in real estate. Part 2.
Which is more valuable: a house flip that brings you $50,000 or one that brings you $13,000? Well that's easy - the one that brings in more money! But what if the $50,000 house flip took a year to get your money and involved weeks of your sweat equity, whereas the $13,000 one took 5 hours of your time, and you had the money in hand within 10 days of having purchased the property to begin with? ...
18m May 26, 2021
18m
64: Formulas for valuing time in real estate. Part 1.
There are a gazillion formulas out there for how to value a real estate transaction. The 70% rule. The 1% rule. This rule. That rule. But you know what pretty much none of them account for? Time. A transaction (such as a house flip) that doesn't fit any of the usual money metrics but that doesn't take much time from the person doing it should be considered more valuable (and vice versa)! And so...
22m May 19, 2021
22m
63: How to read an untrustworthy real estate person.
One of the hardest parts of doing a real estate transaction is knowing who to trust when you're dealing with so many different parties - lenders, realtors, inspectors, appraisers, contractors, etc. In this episode of Selling Greenville, Stan breaks down five questions he's learned to ask himself about people he's dealing with in real estate. The answers to these questions go a long way in helpi...
32m May 12, 2021
32m
62: Is the housing bubble about to burst?
There is some trepidation that the current real estate market feels like it did in 2006-07, right before it burst, sending the US (and entire world) into a prolonged recession. While there are some similarities to the current market and what we saw 15 years ago, there are more dissimilarities. Whereas there was a lot of easy bank money flowing before the housing market crash of 2008 and many pe...
23m May 05, 2021
23m
61: Homeowner's Insurance "Gotchas"
Homeowner's insurance companies exist for one reason: to make money. Guess what happens when they don't make as much money as they expect, whether due to increased storm activity, civil unrest, etc.? They start making changes to their policies, and oftentimes, those changes aren't good for the policy-holders. Low and behold, as the Greater Greenville area has had an influx the past couple years...
23m Apr 28, 2021
23m
60: Processes vs. Outcomes: A different way to approach real estate
We are outcome-oriented people. We set goals for our money, health, family, and yes, real estate, and we try to achieve those goals. But often we don't because focusing on a goal doesn't help you achieve the goal. What does help? Focusing on processes - improvements that you can make every month/week/day that help you reach the point where the outcome (or goal) is attainable. For real estate in...
37m Apr 21, 2021
37m
59: Update: how crazy is the Greenville real estate market in April?
You've probably heard that the "real estate market is crazy," but what does that actually mean? What do the numbers say? In this week's (short!) episode of Selling Greenville, Stan dives into the Greenville MLS's numbers to dissect what is going on the market. And yes, it's still crazy! But don't let that discourage you from making the move you need to make. As always, if you have any question...
26m Apr 14, 2021
26m
58: Buying Land? There's a lot to consider.
If you've ever considered buying land to build on, there are several things to think through, from how to finance (and potentially refinance) the land, to looking at the zoning and deed restrictions, to ensuring that you have the right contractor in place for when you build, etc. In this episode, Stan discusses the land-buying process from a "30,000 foot view" to explain the major parts of the ...
18m Apr 07, 2021
18m
57: Assembling your real estate "Dream Team"
Every real estate transaction requires a team, which can include lenders, inspectors, contractors, appraisers, attorneys, etc. You might have a lender that offers a competitive rate, but what if other aspects about that lender cause concern for the seller, resulting in them accepting another offer instead of yours? A competitive rate or special lender incentives are worthless if you don't get t...
41m Mar 31, 2021
41m
56: The US Treasury is worried about rental properties.
The US Treasury recently made an amendment that now dramatically restricts how much lending Fannie Mae can do on second homes and investment/rental properties. Does the Treasury see something bad coming down the road? And what does this mean for us now in 2021? We are left with more questions than answers, but there is much to consider with this new development, and anyone interested in real es...
17m Mar 24, 2021
17m
55: Will property taxes be going down in SC?
Three organizations (including the SC Association of Realtors) put their heads together to look at the property tax situation in SC. The long story short is that the property tax structure down here is both convoluted and unfair to renters, landlords, and manufacturing businesses. Unfortunately, fixing the property tax issues would require a complete overhaul of the state tax code. That's the b...
26m Mar 17, 2021
26m
54: What happens when you underprice your home when selling?
We know what happens when you overprice your home (which Stan discussed in Episode 40), but what happens when you underprice it? In this short episode, Stan looks at the data from the past 6 months to get a sense for what the market does when a home is underpriced. As always, if you have any questions or comments (or, of course, need a realtor), feel free to reach out to Stan McCune directly b...
20m Mar 10, 2021
20m
53: Poe Mill: Greenville's next big project
When most people think of "Poe Mill," they think of an area just north of downtown Greenville where a '90s-style skate park is surrounded by a decrepit mill and many old mill houses. However, that's all about to change, as a developer is poised to renovate the mill, and as several other spaces in the Poe Mill area are prepared for renovation. Is Poe Mill the next "big thing" in Greenville? And ...
25m Mar 03, 2021
25m
52: The housing affordability CRISIS. Part 2.
We have a housing affordability problem in the Upstate of SC, and it's not going away any time soon. But the depth of the problem goes far beyond the simple "supply and demand" issues that we are all aware of when it comes to housing. Even developers and builders that want to help in the area of affordable housing run into issues of red tape, etc. when it comes to providing inexpensive homes fo...
20m Feb 24, 2021
20m
51: Timing the market to buy low and sell high
I frequently hear people say they are trying to time the market, usually saying they intend to wait to make a purchase - whether for an investment property or a house to move into - until the market "dies down" or flips to a buyer's market. We all want to "buy low and sell high," but that's easier said than done. Most of the time, utilizing a strategy of waiting for the market to flip backfires...
37m Feb 17, 2021
37m
50: The most important lessons I've learned in real estate over the years
Episode 50, my 35th birthday, and my 5th anniversary as a Realtor all converge this week, making for a very special time of reflection as I consider five of the most important lessons I've learned over my life, particularly when it comes to real estate. These are "big picture" lessons that have broad application, but they have revolutionized my thinking, both in terms of how I approach buying a...
35m Feb 10, 2021
35m
49: The three ways to assess a property's value
One of the trickiest questions for me to answer is, "What should I offer on this property?" At the end of the day, determining the value of a home is just as much of an art as it is a science, but there are some methods, both objective and subjective, that can help determine a property's value to a buyer. In this episode, I discuss the three most common and basic ways that I think about propert...
30m Feb 03, 2021
30m
48: Six (often overlooked) values a good realtor provides
When people think of what makes a good realtor, they often think about about how personable the realtor is, how available s/he is, how good at negotiation they are, etc. But some of the most crucial criteria for determining a good realtor are common overlooked, such as their organizational system or ability to project the potential of a property. In this episode, I discuss six of these often ov...
28m Jan 27, 2021
28m
47: Turning a real estate WEAKNESS into a STRENGTH
One of the biggest mistakes people make when assessing real estate is to rule out a property because of its perceived weaknesses. Why is that such a big mistake? Because oftentimes the greatest opportunities to add value to a property actually lie in that property's greatest weaknesses! Converting those weaknesses into strength disproportionately add value to the property while simultaneously a...
23m Jan 20, 2021
23m
46: The six home tools that I don't skimp on
Whether you're a renter, homeowner, or real estate investor, we all need tools to help us in everyday life. Over the years, I've learned that there are some tools that you simply shouldn't skimp on, and you'd be AMAZED the difference it makes to go into a job, home rehab, etc. with a slightly better toolkit than without. In this episode I discuss six tools that I've learned are not the ones to ...
17m Jan 13, 2021
17m
45: Using (and refining) your real estate GUT
"This doesn't feel right" is probably something that you've told yourself before. That's a feeling we all get from time-to-time. It's our gut - the instinct we develop that is informed by our past experiences - talking to us subconsciously! But our gut can be wrong, or at least misinformed, and when it comes to real estate, we have to teach ourselves where it is wrong and help to educate it. Ma...
38m Jan 06, 2021
38m
44: 2020 in Review, Part 2: Five real estate stories that summarize my year
This past year was easily the most challenging of my real estate career. It seems like every transaction had some little twist or turn that made it more difficult than expected. But in the end, it was a good year, and in this episode, I give you a behind-the-scenes glance at what my life as a realtor was like the past year. Tune in to this final episode of 2020 for five stories from deals that ...
37m Dec 29, 2020
37m
43: 2020 in Review, Part 1: Five things from 2020 I'm grateful for
As we approach the end of the year, it's easy to think about how trying 2020 was, but I'd rather focus on the positive. There is a lot that I'm grateful for from the past year, and in this episode, I discuss five things that come to mind when I think about 2020, particularly from a real estate standpoint. This is a bit of a more personal episode than some of my past recordings, but I hope it gi...
27m Dec 22, 2020
27m
42: What's going to happen in Greenville in 2021?
This past week, I was a part of a live zoom meeting that allowed me to correspond with Dr. Lawrence Yun, the chief economist for the National Association of Realtors. He gave some incredible insight into what he expects to happen in the real estate market (both nationally and locally) in the upcoming year and how that compares to what happened this past year (and in previous years). In this epi...
38m Dec 16, 2020
38m
41: Basement homes are extremely undervalued. Thanks, appraisers.
Did you know that most appraisers in Greenville give basement homes a fraction of the value of what they deserve? It's true, and it causes issues for sellers trying to sell basement homes, while potentially delivering great value to buyers trying to buy them. However, the increasingly prevalent low appraisals that come in for homes with finished basements are frustrating to those of us operatin...
39m Dec 09, 2020
39m
40: The DEVASTATING impacts of overpricing your home
There is a science behind determining the value of a home, but not everyone agrees, once the home value has been determined, how high or low the list price should be set at. Any good realtor will tell you that it's a terrible strategy to overprice a listing, but sometimes a realtor's gut can be misleading. Today we crunch numbers from the past three months of real estate closings to determine w...
33m Dec 02, 2020
33m