In this Issue
November Market Update
Mortgage Rates Move Higher
Hazard Insurance Check Up!
Search For Homes
House Plans Radio
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The Buyer's Broker of Greenville  

   The Buyer's Broker, Inc.
   Keith Clark  Broker/Owner
www.GreenvilleBuyersAgent.com
  Mobile Phone 864-420-0262
    Office Direct 864-271-4114  
 

 County Bank Logo    

 Call JD Nelson at 864-331-2212

[email protected]

CountybankMortgage.com 

    

Helpful Hyperlinks
Dear , Happy Thanksgiving from the Clark Family! I hope you are excited about the Holidays and I hope you make great memories that will last a lifetime. Bennett has his learners permit and Mary is teaching him to drive. I have been banned from participating because as many of you know I can read a map, talk on the phone, and talk to the client in the back seat all at the same time and never hold up traffic. Mary thinks it's better if I keep these skill sets to myself and I'm inclined to agree so she is doing all the driver training. Please don't laugh if you read about us in the news!

I hope you enjoy this month's newsletter and I hope you will forward it to your friends, family, and colleagues who may be thinking about buying a home in the Upstate. All my best, Keith (864-420-0262)

November Market Update  

The October statistics continue to be consistent with the rest of the year.  The number of transactions increased 7.1% month over month and year-to-date it was 6.7%. The builders are trying to deliver enough new product to relieve the inventory shortage but unfortunately they have not been able to ramp up fast enough. New housing starts were at the highest level in nine years but I don't think we will see an improvement in inventory until last summer next year.     

   

1. Cumulative MLS Statistics 

 

2. October MLS Statistics

 

3. Year to Date MLS Statistics   

 
  

We at The Buyer's Broker believe the more you know, the more you will want The Buyer's Broker of Greenville to represent you in your next real estate transaction.
Last week's election fell in the middle of our survey week, making it impossible to determine how closely the mortgage rate would track the post-election sell-off in the Treasury market.  The past two weeks the 30-year mortgage rate jumped 40 basis points to 3.94 percent, almost identical to the 39 basis point increase in the 10-year Treasury yield.  If rates stick at these levels, expect a final burst of home sales and refinances as 'fence sitters' try to beat further increases, then a marked slowdown in housing activity.
  • 30-year fixed-rate mortgage (FRM) averaged 3.94 percent with an average 0.5 point for the week ending November 17, 2016, up from last week when it averaged 3.57 percent. A year ago at this time, the 30-year FRM averaged 3.97 percent. 
  • 15-year FRM this week averaged 3.14 percent with an average 0.5 point, up from last week when it averaged 2.88 percent. A year ago at this time, the 15-year FRM averaged 3.18 percent. 
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.07 percent this week with an average 0.4 point, up from last week when it averaged 2.88 percent. A year ago, the 5-year ARM averaged 2.98 percent.
Shopping for home owner's insurance (we call it hazard insurance) can be as complicated or as simple as you want it to be. I have had the same insurance for twenty five years. It's a national firm and reputable local agent and I'm confident if I have a catastrophic event (fire) I have more coverage than I will need. This makes me sleep good at night and so I'm probably paying a little more than I should for the coverage that I have. If you would like to shop around to see if you're paying too much I recommend you review this short article on Twelve Ways to Lower Your Insurance Costs. If you really want to do the research visit the SC Department of Insurance web site. Whatever your approach we recommend that  you take a few minutes each year to review your coverage.
Searching for homes online can be frustrating and time consuming. You can learn more about the Upstate real estate market in a phone conversation with me than you can learn surfing the internet for days, weeks, and months. If you would like to know exactly what the local market has to offer and the who, what, where, when, and why about purchasing a home in Greenville, call me today!

House Plans Radio Show 

Listen to me on the radio every Saturday morning on House Plans. "House Plans" airs live on WORD, 106.3 FM locally from 8:00AM until 9:00 AM. JD Nelson, Chris Roberts, (Countybank Mortgage) and I discuss local, state, and national real estate issues along with a variety of mortgage topics. The debate is lively and callers engage the hosts with local real estate questions. You'll learn all about the current real estate and mortgage market.
Click Here to Listen a Recent Show