Interstate 385 Closure, Foreclosures, Short Sales and New Government Incentives, New Dog Park

Interstate 385 Closure
One of the immediate changes for traffic this year is the widening project on I-385 that has already begun near Clinton. For the next eight months, be aware that the northbound lanes from I-26 to Gray Court will be closed and the best route is north to I-85 at Spartanburg and then west to Greenville SC, adding about 45 minutes to your journey. Of course there are several other rural routes on smaller roads, but they might not be as time efficient due to added congestion. The southbound lanes will be open for traffic as usual. There's been a lot of political finger pointing as to why an alternative route was not devised along the construction route to save time, but since we're stuck with it now, enjoy the drive!

Foreclosures Greenville SC
The Greenville SC foreclosure market keeps chugging along in our area with approximately 185 properties sold in the fourth quarter of 2009, which is consistent with what sold in each quarter last year. There are about 100 active Greenville foreclosure properties listed currently, which is down about 15% from an average over 2009. The median price of foreclosures sold in the 4th quarter is $80,000 and has also remained steady. Many of these lower priced properties were purchased by investors for rental, or fix-up and resell, but there are a variety of opportunities of nice homes for those who intend to occupy the home. The good homes go quickly, so be ready to act fast when they hit the market!

Short Sales and New Government Incentives

In addition to foreclosures, the inventory of "short sales" on the market has been increasing. These distressed properties are in the pre-foreclosure stage and the owner is asking the bank to accept less than what is owed on the property. These types of transactions have been extremely hard to close in the past two years because the banks have not been prepared for the tidal wave of loan defaults that is predicted to continue into 2012. However, the U.S. Treasury has put pressure on banks to effectively process short sales, thus cutting down on the amount of foreclosures in the market and stabilizing values. For a more detailed discussion on the new incentive program click here for Greenville short sales and how they work . If you know of a distressed homeowner facing foreclosure and looking for an alternative that will save their credit and perhaps even their job (e.g. employees with a security clearance), have them call The Cunningham Team. We are Certified Distressed Property Experts (CDPE) and are doing our best to help homeowners through their life shattering situation.

New Dog Park
Dog lovers will be able to enjoy a new Greer SC dog park in about 2 months thanks to the Greenville County Recreation Department, who are starting the project after a series of delays. Located at Highway 14 and the Enoree River, the 3.5 acre park will feature a maze-like course, ramps and balance beams for canine entertainment. The former Pelham Mill site is quite nice with a dam built in the 1800's. The Recreation department also just completed a restoration of Campbell's Covered Bridge and created a new park there. Built in 1909, the bridge is the only remaining covered bridge in SC and is located in northern Greenville County near Pleasant Bridge Road and State 414.

Current Weather
Cold weather has been on us since New Years Day and will continue with unusually cold temperatures through the week. Lows will be in the 20s and highs in the 30s. There's even a chance of snow flurries on Friday and warmer weather won't be back until next week.



Please visit our websites at Greenville SC Real Estate and our second site at Greenville SC Homes
For information specializing in Greer check out our Greer SC Real Estate website.

The frozen waterfall photo below is from a recent hike.
Raven Cliff Falls and Caesars Head State Park.

Greenville SC Main Street Adding Business, Clemson Teams Up, Michelin Helps Education, Spartanburg Top Real Estate Market

Main Street Adding Businesses
Despite the economic downturn, Greenville's central business district has several projects that are making respectable progress. One of these is the Carolina Ale House, a family restaurant and sports bar near McBee and Main, and the former site of Kimbrell's furniture store. They plan to install a retractable glass roof to take advantage of that famous Carolina Blue Sky we're famous for while protecting customers during inclement weather. That project is still waiting approval from the city's Design and Preservation Commission, but the owners would like to open in the spring of 2010.

Clemson Teams Up With SCRA
The South Carolina Research Authority intends to strengthen the alternative energy presence in the state and has created a collaboration with the Clemson University International Center for Automotive Research (CU-ICAR), Greenville City and County, and Hyperion Partners LLC. Their goal is for South Carolina to lead the nation toward the integration of renewable energy sources into the automotive and other industries. They are considering a location at the CU-ICAR campus in Greenville where the initial SC site would provide a research facility and also dispense Hydrogen, compressed natural gas and propane as a demonstration project.

Spartanburg Named A Top Housing Market
Spartanburg was listed as the second strongest housing market in the U.S. by Business Week Magazine, basing it's conclusion on the share of single family homes that rose in value during the second quarter of 2008. Spartanburg was behind only Boulder, CO and Greenville was 24th on the list. The magazine noted that both Spartanburg and Boulder are “college towns that have been somewhat buffered from the downturn because schools provide solid jobs and a steady flow of apartment and home renters.� With Converse College, Wofford College, Spartanburg Community College, Spartanburg Methodist College and USC Upstate in town, Spartanburg has the highest student per capita ratio in South Carolina.

Michelin Challenge Education Program Launched
Major local employer Michelin has launched its Michelin Challenge Education program and thousands of company employees have volunteered to help elementary students with their education. The tire maker has adopted eight elementary schools and will provide mentors to help these young people get excited about education, particularly math and science. By bringing these employees who work with science every day into the classroom, students will be able to better understand the role that math and science plays in our lives.

New Golf School In Taylors
There's new golf school and driving range being planned off Wade Hampton Blvd and across from the Taylors Post Office where the Enoree River winds through a flood plain region. The project still needs approval for rezoning to commercial by the County since it is currently zoned residential and backs up to nearby homes. The land would be a difficult site for homes because of flood plain requirements, and the developers of River's Edge argue that putting three buildings, 46 tee boxes, putting greens, and a tree buffer around the perimeter would be a better use for the land. They don't plan to install fairway lights or permit nighttime golf.


Current Weather
School is back in session and the weather will be fairly mild this week. Expect highs in the upper 80s and lows around 70, with a chance of thunderstorms later in the week.

Please visit our websites at Greenville SC Real Estate and our second site at Greenville SC Homes
For information specializing in Greer check out our Greer SC Real Estate website.

Summer is almost gone... back to school for Greenville County

Downtown Greenville SC is a One-tank Trip from Atlanta

Downtown Greenville SC was transformed from a derelict deserted area to a destination with Nationally recognized revitalization efforts in just 25 years. The efforts are not going unnoticed by our neighbors in Atlanta, GA looking for a weekend getaway. Recently there was an article in the Atlanta Journal on Greenville entitled "Visitors rave about new vibe of downtown." (one-tank trip Greenville, S.C. - tips to help you plan a day trip or overnight getaway). The article was very complimentary on Greenville's makeover, her unique shopping with locally owned shops and merchandise, the pedestrian friendliness and most of all the world class dining experiences available.

Several key features of downtown that were considered big pluses were Falls Park's renovation where the Liberty Bridge was called "a stunning curved pedestrian bridge" and the amphitheaters provided "pretty downtown Greenville event spaces". The downtown baseball stadium was of course mentioned with details about the green monster and the Greenville Drive's name choice. Shopping was an assest mostly because many of the stores are locally owned non-franchise stores and have locally designed clothing, goods and accessories. The Saturday Market was also mentioned as a draw where people can sample local foods and buy tasty souvenirs to take home.

The big draw of downtown Greenville, SC though by far (other then parking your car and never having to use it until you go home) was the dining experiences. The article called Greenville's dining scene a diversity of restaurants and chefs to rival anything found in Atlanta. The paper noted Soby's, Devereaux's, Restaurant O, The Lazy Goat, High Cotton, Larkin's on the River, Pomegranate on Main and the American Grocery in the West End.

We hope that more Atlantians decide to come visit and decide to stay. If you would like to look for downtown Greenville SC home within walking distance please contact us.

Greenville SC Home Inspections, New Park & Children's Museum and More

County Home Inspectors Being Laid Off

If you are building a new home in Greenville County, keep a close eye on the Greenville county home inspectors work as you go through the process. Due to the economic slowdown, thirteen inspectors are being laid off, leaving only four chief inspectors and one additional inspector to cover all the permits. That might not be enough to cover all the projects properly... Mike Parker and his experienced team at Amerispec has proven to be a great resource for our past clients...(for more click here Online Newsletter)

New Cedar Falls Park for Greenville County
A new park along the Reedy River in southern Greenville County is slated to be complete in the fall of 2010, and will consist of an 87-acre parcel at the historic Cedar Falls area and another 17 acres at New Harrison Bridge Road. The Cedar Falls Regional Park project will provide two miles of nature trails for runners, walkers, and cyclists, plus a 50-person picnic shelter, playground, restrooms, and an open lawn area for activities such as kite flying or flag football. The park will be a boon for paddlers ...(for more click here Online Newsletter)

Fountain Inn Annexes Land in Controversial Move
A controversial annexation technique known as shoestring annexation has been approved by the Fountain Inn council that will bring 460 acres of land around the Carolina Springs Golf Course into the city. The move will connect an area around the Carolina Springs course where the Southern Venture Group Inc. has announced Eagle Springs, an upscale golf community with more than 500 homes...(for more click here Online Newsletter)

Children's Museum of Greenville Sets Opening Date
After a long wait, the Children's Museum of Greenville is on track to open in July of 2009 and provide a tremendous surprise for our community. The multi-floored classroom-type setting will offer a variety of learning experiences, including a miniature supermarket, a climb-through human body and slide, Grandma Bettys Farm, a water engineers center, and an introduction to music and television at WTCM. Carol Scott, the president and CEO, came to the project after running the Kidspace Childrens Museum in Pasadena, California, so we are expecting great things. The museum will be located on Heritage Green where the old Greenville County Library was located.

FEATURED HOME

114 Banbury Circle
MLS #: 1172858

List Price: $279,000
Within walking distance to downtown Simpsonville, SC. All Brick, 3 bedroom 2 bath home with lots of upgrades - Hardwoods, fireplace, crown molding and more.


Please visit our websites at Greenville SC Real Estate and our homes site at Greenville SC Homes for more Greenville and real estate related information.

Greenville SC Real Estate Icon Passes Away

Iconic residential builder Dorothy Hammett passed away last week after a long career in Greenville SC real estate at the age of 87. She was the first woman residential builder in the South Carolina, launching Dot Hammett Builder in the late 1970s. Her prolific production included subdivisions on the east side of Greenville such as Merrifield Park, Pilgrim’s Point, and Pelham Estates where she cranked out 3500 square foot brick homes. She got her start in the business working as a bookkeeper for Taylors Lumber Company, then worked loans and closings of real estate transactions at Haynesworth Law Firm. She began building ranch homes in the 60s under builder Alvin McCall and later for Tom Threatt before starting her own business. Greenville SC Real estate was shaped by Ms. Hammett and will never be the same.