Hello everyone and Welcome to another

episode of Selling Greenville your

favorite real estate podcast here in

Greenville, South Carolina, I'm your host

as always Stan Mccune realtor right here in

the Greenville area, you can find all of

my contact information in the show notes

if you need to reach out to me for any

of your real estate needs just a

reminder, as always, please like, rate,

review, subscribe all of those good

things with regard to the show

whatever podcast app you're using and if

you're on YouTube, same thing you can

subscribe on every single one of them

and that will help you to make sure

you don't miss future content but then

also if you could just leave a little

rating like or leave a comment or

whatever whatever your podcast app

allows you to do anything like that is a

way to support the show so all I ask of

you guys is to please go ahead and do

that and yeah I'd appreciate if you

could so I just got back from punana

spent not quite a week there, but me

and my wife had the opportunity to get

away wonderful place my third time there

the the beaches and the Dominican

Republic are just incredible I love

everything about pakana granted

you know we basically stay

sequestered in the resort that we're in

when we go, but it it's a really

phenomenal really phenomenal area

highly highly recommend it our our

beaches in South Carolina are nice but

they are not Puna kind of nice that

being said I'm glad to be back as always

my phone was blowing up while I was gone

I still take all those calls all those

text messages all those emails it all

you know I I'm still working when I'm

traveling but I appreciate the people

once they find out that I'm traveling

because I don't tell everyone I don't

want people to feel bad about

reaching out to me while I'm traveling

so in some instances if you know

people don't need to know I don't

tell them because again I just I don't

want them to feel like oh I can't call

Stan cuz he's on vacation but yes my

my phone was blowing up the entire

week which was fine I always joke

with my wife well maybe I'll get an

extra closing out of this and then as

a result it'll pay for this vacation

but anyway I don't know this

is already going off the rails and I'm

only a few minutes into to this episode

so we need to jump right into the topic

at hand I've been thinking about this

recently the question of should you sell

or hold certain real estate right now

this is a question that I see people

asking and it got me thinking about

it like what are the examples of real

estate that I think that you should sell

versus the examples that you should

hold and this is a matter of thinking

about right now in the near future and

in the distant future okay I'm not just

specifically thinking about it through

you know one specific lens versus

another but there's a lot to consider

when you think about selling or holding

real estate in fact there's a lot of

real estate I thought that I was going

to hold for much longer that ended up

selling and there's real estate that

I thought I would sell that I ended up

holding longer than I than I thought I

would and so this is a very pertinent

question I think it's one that's

important to answer and I think it's

something that will interest you guys I

think as well it's worth mentioning

I've said this before but I'm going to

say it again this podcast is going to be

more overarching not necessarily

Greenville specific but anytime I talk

about real estate it's through a

Greenville lens because even though I

have a general knowledge of real estate

outside of Greenville really I'm only an

expert in Greenville right so nothing

that I say about real estate outside

of Greenville I can't consider

myself an expert I'm relying on other

experts to help me to understand the

market outside of Greenville so

understand that even though this

isn't a Greenville-specific

episode it's still going to be through a

Greenville lens now with that in mind

should I sell or should I hold we're

going to start with midcentury modern

homes, mid-century modern homes are

all the Rave right now I mean it is

insane how popular they are everyone

wants a mid-century modern home home you

know they love the stream streamlined

looks the the the unique roof

lines the massive Windows the you know

some of them that are in the the really

nice ones like the Frank Lord Wright

homes that are incorporated into nature

all of that and it's interesting that

this has only happened the past I mean

really since the pandemic I would say

and I I don't think the pandemic really

has anything to do with it although I

mean I guess I could be wrong but I

think what Hasen happened the past few

years is there's just been fatigue about

production Built Homes and so people are

you know looking for something that

doesn't just look like everything else

and so what are the options okay if we

if we rule out production Built

Homes then what else do we have okay

well if you're if you don't have a huge

budget you know there's brick ranches

and and things of that nature you know a

lot of people aren't necessarily looking

for that look right now and so some

of these mid-century modern homes are a

way to cheaply get a really unique look

in in some cases for a pretty good

price that being said if I am a

mid-century modern owner I am selling in

this market right now and here's why

right now they are trending and

mid-century modern homes have like I

said I mean we went for a stretch 10

years ago nobody wanted mid modern home

they were just like man that looks so

weird it's just odd odd shaped you know

what's going on with you

know I don't know people just didn't

like them right it was just it was just

too different and Trends things swing

right wallpaper is coming back in right

I never thought that would

happen gold has come back in Gold

interior finishes has come back in so

these different stylistic things they

come and they go why walls went away

for a while white is back in so

all of these things mid-century

modern homes are in right now I don't

know how long their time in the

spotlight is going to be it might be a

few more months it might be a few more

years perhaps it could it could go on

for a lot longer than I think but I

suspect that as quickly as it came it

will go that quickly and if I own a

mid-century modern home right now

I am selling that style because it is

currently hot and we know what is hot

eventually cools and I suspect that it

will cool it when it happens it's going

to happen very fast it's going to catch

people by surprise don't be the one at

the bottom of the wave be the one at the

crest of the wave it's better to sell

early than to sell late in my opinion

and this might not be late this might be

right on time just depending on what

theet Market

does number two beach front real estate

obviously you know we all love the

beach I just came from the beach I've

actually thought about buying real

estate in punana before they've got

you know incredible looking condos very

close to the beach for like

$100,000 but for my two cents I am

selling beachfront real estate and

here's why not I'm not talking about pon

talking about and and again this is

where I was saying it was not going to

be specifically Greenville Centric

but a lot of my listeners have multiple

homes so if you're interested in

Greenville you may have a home at the

beach or perhaps you're considering

moving from Greenville to the beach or

vice versa who

knows I'm selling beachfront real estate

and there's two main reasons one is a

definite this is going to happen and the

other one is more of an outside

possibility the definite is that

insurance costs are going to keep going

up and potentially going to become

absolutely insane we're already seeing

this in Florida and so if you own

beachfront real estate in Florida you're

already feeling the squeeze if you

own beachfront real estate in South

Carolina or North Carolina you're

starting to feel the squeeze it hasn't

gotten bad yet sell before it gets bad

I'm just telling you it is has the

potential to be really really really bad

if what happen happens in Florida where

some people are now starting to have to

pay $30 to $40,000 a year $30 to $40,000

a year to Simply have homeowners

insurance why is that it it's a variety

of reasons a lot of it has to do with

just the hurricanes and and the wind

storms and the tornadoes and the hail

that just comes through there well South

Carolina is not as bad as Florida in

that regard but South Carolina gets hit

by these things

too and so so keep that in mind if

you have beachfront real estate I would

I would sell on the basis strictly of

the the likelihood of homeowners

insurance skyrocketing in the future but

I'll mention another one and I've

mentioned this before and some of you

are going to laugh and some of you might

not but there is a nonzero chance that

sea levels will rise to the point where

some beachfront real estate gets

impacted very very negatively and I

mean there is a clear science to this

and that is that as ice caps melt and

they are melting like that it is

undeniable regardless of what you think

about climate change ice caps are

melting and when that happens sea levels

rise now we've already seen the sea

levels are rising again that's

that's a scientific thing you can there

there's a lot of evidence to that the

question is are they going to rise to

the point where beachfront real estate

becomes impacted we don't know I would

say it's generally speaking probably not

the most likely scenario right I'm not

I'm not betting that that's what's going

to happen but if you're thinking like

an investor you have to think about all

potential possibilities and that's one

of the ones that I'm considering and why

you know unless you have unless you're

very wealthy and this is by the way a

question that I I get from people when I

when I mention this it's like well every

single politician that's platforming

against climate change has beachfront

property listen every single politician

that has beachfront property that's

their that's a vacation home for them

that's not where they live okay they

have multiple properties they are so

wealthy that they have tons and tons of

properties so guess what they can afford

to lose one they don't care they just

want the luxury of having a beachfront

house and so you can't that that

doesn't prove anything okay people

people that are are super wealthy are

willing to take gambles on luxuries in

life that they're willing to lose but

normies right like me and most likely

you if you're listening that losing

an entire home or you know or having

a home completely devalued due to

something like rising sea levels could

be devastating and so in my opinion

that's a sell opportunity sell before

you need to right once you need to it's

usually too late homes that need

number three homes that need updating

okay cosmetic updates other

updates hold those okay I'm saying hold

homes that need updating and here's why

the market right now is awful for homes

that need updating people they just

don't have the money to buy a home put

the down payment pay for all their you

know all their inspections and all of

that appraisals attorney fees all of

that and and then on top of that now

they've got a a 7% mortgage rate and

maybe they had to pay additional closing

costs to buy that down to like you know

6.25 still very high in comparison to

what it's been for several years so

basically we have the most I say

basically but in actuality we have the

most unaffordable housing market of all

time and people can't afford to buy a

house and then update it unless that

house is priced so competitively that

it's basically under

Market you don't want to be a seller

that sells on the market right so if you

have a home that needs updating hold

that home or do the updates and then

sell but trying to sell a home in this

market that needs updating is not a good

idea generally speaking here's another

one number four homes near power lines

in case you don't

know there is a a growing group of

people that are that refuse to live at

homes that are near power lines there's

there's a concern of I don't know

radiation or something I I don't get

into all this kind of stuff I'm not a

real big every if you look at everything

everything's going to kill you at some

point right the water has chemicals in

it it's going to kill you Plastics are

going to kill you processed sugar is

going to kill you

fumes are going to kill you power

line everything's going to kill you okay

so I kind maybe I'm just putting my

head in the sand in the punana

beach sand I don't know but that's

not something that moves the needle for

me but it moves the needle for a lot of

people and as a real estate professional

I respect that right even if that's not

my personal belief it's not my job to

impose my beliefs on my clients or

on anyone in real estate

my point is simply that people do

believe in this okay at the end of the

day and that's important but I do think

that in the

future there will be studies that are

done there will be things that are going

to be done that are going to probably

disprove that power lines are really

impacting anything and or the current

sentiment the the concerns that people

have are just going to Mor or less go

away in future generations and so I

believe that you should hold hold homes

that are near your power lines because

right now their value is being

negatively impacted by by this

sentiment that could just be a flash in

the pan or could be

disproven now none of this I'm saying in

here is is investment advice because I I

don't know what you have or what you

don't and and it's Case by case right

you might have a home near power lines

that if I looked at I'd be like oh yeah

you should sell this you know maybe it's

in a neighborhood where all the homes

are are near power lines and that's

just a factor that you have to consider

and it's it's not really impacting

the value of the home for other

reasons but generally speaking that

is something I would say homes near

power lines that is I would hold as

opposed to selling right now wait and

see if the power line situation

becomes less of a concern for people or

maybe these power lines get buried you

know we're seeing that in parts of

Greenville some power lines that are

aerial are being buried and that

seems to alleviate the concerns that

people have and so that could also

be a resolution to this hold homes that

are near power lines what about homes

number five that are 5,000 square ft

plus okay large homes right and you're

probably some of you might be thinking

well how many of those are there there's

quite a few actually and it was

kind of arbitrary to kind of figure

out where to draw the line I thought

about Drawing the Line at like 4,500

square feet I wasn't exactly sure

where to draw the line but 5,000 just

felt right to me and I'm saying that you

if you have a home that large you need

to sell and here's

why the population is starting to is is

basically we're we're no longer at

replacement in terms of the population

right fewer people are being born then

are dying right now the only thing

that's keeping our population afloat in

the United States is

immigration we don't know if that's

always going to be the case and I think

birth rates are going to start declining

even more again I'm certainly not an

expert on this but just anecdotally I

really think that's going to happen

there's a variety of reasons that I'm

not going to get into on the show why I

think that's going to happen but the

long story short is between birth rates

declining with which means that there's

fewer people that are going to be buying

homes in the future combined with

smaller families and maybe fewer

marriages I mean who knows the demand

for large homes is going to go away at

some point in my opinion this this is

what I see happening in the future now

how large of a home are we talking about

well that was the arbitrary part of it I

I think that for most families that have

four let's just say a family of three

or four a 3,000 ft home for most doesn't

feel too big and I think if you get to

four or five in your family I think that

a you know 3500 to 4,000 maybe even 4500

foot home doesn't feel too big to most

people once you start getting into 5,

6,000 700,000 700 five 567,000 square

foot hes

those those are like really really large

homes those are homes that are hard to

keep up with and I just think that

the Market's just not going to be there

in the future with the way things are

going in the US

demographics and so if you have one of

those really large homes this isn't a

kind of thing where we need to to sell

today but you need to be considering

this shouldn't be a home that you're

planning to hold on to for 30 or 40

years in my opinion because I do think

that these homes are going to be

devalued and probably pretty

tremendously because what happens if

literally no one wants a large home

and on the flip side of this I'm very

bullish on small homes this isn't one

of my bullet points in this but I

think that small homes are going to be

are going to be really massive moving

forward I think that there's going to be

a huge group of of you know gen Alpha

for instance the the you know

youngest generation right now that

that are into smaller homes and and

so I'm much more bullish on smaller

homes moving forward than I am on the

really really large homes now before we

go on to the next five I've got a

special announcement here we have a

sponsor I've been doing this show for

over four years and I have my first

sponsorship that we're going to be

doing weekly hopefully from now on and

that is Piper Insurance Group Piper

Insurance Group who are they they're a

company that I have used many times and

have referred them many times to my

clients they are an independent

insurance agency and what that means is

that they quote with a lot of different

insurance companies and bring back bring

back the best rate that they can find so

it's not like you know if you're with

like all state for instance they're just

going to give you an all state quote

or State Farm kind of kind of the same

thing that they are independent Piper

Insurance Group is independent they can

quote a lot of different carriers get

you the best rate for Home Auto and

Umbrella insurance they can do

investment properties such as flips

rentals even ground up new construction

they can do residential commercial

investment properties etc etc and they

can underwrite policies in South

Carolina North Carolina and Georgia I'm

personally friends with Steven Piper who

is is the the company

owner and Steven's great he's accessible

all the time well within reason

very he's very accessible he does a

great job he he knows the business in

and out and I I'm really excited for

them to be a sponsor because I'm I'm

never going to have a sponsor on here

that I don't believe in in one way or

another but to have them as my first

sponsor I'm I'm really excited because

Stephen has done and Piper Insurance

Group has done a great job over the

years for me and my clients so please

reach out to them for a free quote their

contact information will be in the show

notes moving forward with the show so

you can look them up in the just go to

the show notes or the show description

and you will see Piper Insurance Group

in there all right on to the next

one in terms of homes to sell or hold

should I sell or hold homes with acreage

okay I'm I'm not going to Define that

how much acreage we're talking about

but just I would say just think

about homes that just have more acreage

than the norm you should hold homes that

have acreage particularly if they have a

lot of acreage and here's why land is

finite we only have so much land on this

planet in this country and in this state

that land you know is ready to be

gobbled up by a developer or by you know

by anyone for whatever reason and it is

extremely extremely valuable there could

be a future where the the value of

acreage really goes up right let's say

that we have you know let's say I mean

God forbid we have some sort of like

famine sort of event these events have

happened in human history and if you

have land if you have acreage that that

can you know allow you to be able to

do mini farming or who knows what

that is very very valuable and I only

see that value of land even if we don't

have an apocalyptic kind of thing the

value of land is just going to keep

going up because so many homes are being

built on small lots and nobody likes

that there you know you very very

rarely run into people that are excited

to buy a house that's on a small lot

but they're getting smaller and smaller

and so if you have a home on acreage

you have literal gold in your hands do

not sell that right now hold it because

it's going to get more valuable in the

future there's going to be fewer and

fewer homes that have acreage with them

and so that is insanely valuable and

it's only going to get in my opinion

more valuable in the future number

seven condos and apartments sell

condos and apartments let me

tell you

I am not bullish on condos or apartments

now there's a few reasons for this one

is that a ton of them are being built

right now right now Greenville I

hear some people say that we are

building too many apartments that I

actually disagree with we've talked

about this on the show that

Greenville actually has fewer

Apartments than they need being

developed in Greenville County right

now but that's neither here nor there

right for the sake of this argument

they're still building condos and

apartments at a faster rate than they

are building other homes just single

family detached homes and so if you own

a condo or an apartment you own an asset

that could potentially depreciate

because it's going up against all of

these other ones that are being built

right

now and that is you know a major

consideration right the other thing

that I think about cond and apartments

are a lot of these are really in a bad

bad financial situation when it comes to

the condo association money a lot of

these condos are completely broke

they're you know they hway or

technically speaking we call it a condo

association completely broke and if

they're not broke now they are spiraling

in that direction and you're going to

find yourself with a home that has

special assessments and increasing

HOA costs things of that nature that you

don't want to have to deal with

additionally if you go to sell a condo

if a huge percentage of them are

are not owner occupied their rental

properties and or the reserve fund that

the condo association has is inadequate

a buyer can't even get financing on on

the condos they they would have to go

get special financing you know from like

Investment Bank lender or or something

like that and so you actually the

value of a condo or an apartment you

have even less control over that than

you do over another property so you know

my house that I live in I have a lot of

control over the value of my house right

even if my neighbors are you know do

awful things with their home I've got

I'm spread out enough from them that

what they do isn't going to affect the

value of my home that much now you know

it could still affect the value but it's

not going to affect it that much at the

end of the day what I do to my house is

going to affect the value of it more

than anything else B condas and

apartments have a lot more variables

that can impact the value of it than any

other sort of real estate the exception

of maybe land you know like if you have

a track of land that you know is

really about valuable things that happen

around that land can impact the value

but we're talking about improved real

estate improvements condos and

apartments I am selling if I have any

condos or apartments I've I've actually

practiced what I preached here I had

condos I sold them and it was for these

very reasons I saw the writing on the

wall that these were not going to be

you know future investments in my

opinion and so I ended up selling

those moving on that was that what

about homes in areas is number eight

homes in areas that are practically

surrounded by commercial real estate you

see this sometimes in Greenville some

other areas there will be a really heavy

commercial area you know an area that

has attorney offices and maybe a brewery

and maybe a restaurant or or maybe

just a lot of offices around the area

and then there's a handful of residences

typically what's happening in these

instances is it's near a City and so

the city has has has re zoned some

of these areas to make them more

commercial in order to benefit the city

benefits the city in a variety of ways

but then there's a handful of

homes that are left behind that

didn't want to be annexed into that

commercial zoning that stayed

residential if you have that type of

home that's residential but it's

surrounded by commercial, you need to

hold okay hold that home here's why

that is some of the most valuable real

estate that you could have because when

you're in a commercial area that is

typically walkable and there is very

little that is more valuable than

walkable real estate people love that

people love to be able to walk or bike

to places everyone loves that they

always have and they always will that

has you know it's only been in more

recent decades that homes haven't been

walkable to places right they used to

build you know the mill houses in

Greenville that were built in the 20s

30s 40s and Beyond they were

built so that people could walk to work

they were built near the Mills and

guess what we still have a lot of areas

in Greenville that have homes that are

residential but are in primarily

commercial areas and they are selling

they are super hot right now and you

might be tempted to sell because you're

like okay yeah I want to ride the of the

wave I'm telling you right now don't

sell hold because those areas are going

to only keep getting better there's

only going to be more things popping up

around them and maybe at some point

down the road a developer that wants to

convert your home two commercial

space you know just maybe just wants to

demo the home and put up who knows what

might give you a handsome s of

money for your home so I say in that

instance hold number nine homes in

locations that are close to a growing

downtown area this is kind of similar

but different right a growing downtown

area this is to be differentiated from a

slumping downtown area right a

downtown area that is struggling you

know like San Francisco for instance

that you know we all know that San

Francisco I shouldn't say we all know

but I think a lot of people know that

San Francisco real estate is going

through a bit of a crisis right now

because

of policies that have been made by

the government there among other things

but if you have real estate in a

location close to a growing downtown a a

downtown that's on people's radar that

is that is improving that is an area

that that people want to go to that

businesses want to to prop pop up in all

of that you want to hold that because

those growing downtowns they're going to

continue to grow

and those downtown areas are going to in

my opinion hold their value and

exponentially grow in value because

again there's finite space in a downtown

area and it's just a supply and demand

thing right there's always going to be

downtown demand again for a growing area

now you have to keep your finger on

the pulse of whether the area is growing

or not right if you start to sense that

the Winds of Change are coming that's

your opportunity potentially to sell but

for now I'm saying if you're close to

a growing downtown area we've got a

bunch of those in the upstate obviously

Greenville is one traveler breast is

one I would say Easley is one and to

a certain extent, Spartanburg is won

there's a lot of them you you could you

know toss Simpsonville fountain in and

there we've got a bunch of of small

and midsize downtown areas in the

upstate that are all growing right now

and personally if I have that real

estate I'm holding because I'm bullish

on the future of this area and of

those specific Pockets that are

that are in the growing downtown

areas number 10 and this will be my

final one for the day production Built

Homes right homes that are kind of

all look the same you know those

neighborhoods that there DR Horton

and Meritage and SK and whatnot not

these are not homes that are built

poorly per se some people might disagree

with me it it is what it is we all

have different opinions on this but

the reality is that regardless of how

they're built we could argue all day

about whether these production Built

Homes are are built well whether they're

not built well whatever one thing is

for sure nobody really likes to be in a

neighborhood where all the homes look

the same like I've never actually heard

someone that was just like yeah I want

my home to look exactly the same as as

my neighbors that's not something that

people want and as these production

built neighborhoods have have gotten

more of a foothold on the market more

and more people are like lashing out

against it and this is I think a big

reason why I kind of already alluded to

this why the mid-century modern homes

have become popular because people have

fatigue with all these production Built

Homes and so I'm telling you right now

production Built Homes sell okay now you

might not be you know if you're you

know a family in your firsttime home or

you know in your your second home or

whatever and as a production built home

don't feel bad don't don't feel like I'm

I'm trashing your home I'm not you're

not able you're not in a position to

sell right away that's fine don't don't

panic you're not going to miss out on

anything I'm just telling you you need

to be thinking about selling sooner than

later don't think about I'm buying a

production built home and I'm going to

live here for the next 30 Years in my

opinion I don't think that that is a

prudent decision because I see the

writing on the wall that 30 years from

now these homes

are just not going to be interesting to

people PE people are not going to want

to live in them that's what I think

and and there is a variety of reasons

for that one is you know we've got a

gazillion of them but also I already

mentioned the population Dynamics and

I've already mentioned that

immigrants make up a a huge part of the

fact that our our population isn't

rapidly declining right if we didn't

have robust immigration the population

would be rapidly declining and that

would have a massive impact on the

resell ability of of certain real estate

such as production Built Homes and

there's a lot of supply of production

Built Homes and if and the only thing

that's keeping them going is that

there's a lot of demand but if that

demand goes away and there's a lot of

things that could cause that demand to

go away you could be left in the cold

and again this is regardless of the

possibility like some people believe

that these production buil homes aren't

even the ones that are be that have been

built the past 5 years some people don't

even believe that they're even built to

last 30 or 40 years and that's a a

conversation I want to discuss on a

podcast for another day but that is

something to consider as well so if

if I'm in a production built home I am

seriously cons considering selling

that doesn't mean you have to get a

really expensive custom built home

but even you know brick ranches things

like that people are more interested in

that I've got my pulse I've got my

pulse on the market I've got my ear to

the ground I know what's happening

people are are would much rather have a

nice looking you know brick ranch basic

than a production built home generally

speaking that's already happening and

that's only going to continue to happen

more so in the future, so production

Built Homes, my opinion is the time is

ripe to sell before the bottom falls out

of that market that's all for today's

episode thank you guys for listening

my contact information is in the show

notes Piper Insurance Group great

insurance company their contact

information is in the show notes as well

please like rate review subscribe all of

those good things to the show we will

talk again next time