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Category Archives: South Carolina Living

Home Prices: What Happened in 2020? What Will Happen This Year?

02 Tuesday Mar 2021

Posted by rozalynf in Buying Myths, Columbia tell me what you think?, SC Home Sellers, Selling your Columbia Home, South Carolina Living

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#Homebuying, #Homeownership, #realestate, #realestateadvise, #realestatemarket, #realestatetips, #RMFRealty, #Rozalynfranklinrealtor, @SCrealtor

Home Prices: What Happened in 2020? What Will Happen This Year? | MyKCM

The real estate market was on fire during the second half of 2020. Buyer demand was way up, and the supply of homes available for sale hit record lows. The price of anything is determined by the supply and demand ratio, so home prices skyrocketed last year. Dr. Lynn Fisher, Deputy Director of the Federal Housing Finance Agency (FHFA) Division of Research and Statistics, explains:

“House prices nationwide recorded the largest annual and quarterly increase in the history of the FHFA Home Price Index. Low mortgage rates, pent up demand from homebuyers, and a limited housing supply propelled every region of the country to experience faster growth in 2020 compared to a year ago despite the pandemic.”

Here are the year-end home price appreciation numbers from the FHFA and two other prominent pricing indexes:

  • Federal Housing Finance Agency House Price Index Report: 10.8%
  • CoreLogic Home Price Insights: 9.2%
  • S&P Case-Shiller U.S. National Home Price Index: 10.4%

The past year was truly a remarkable time for homeowners as prices appreciated substantially. Lawrence Yun, Senior Economist at the National Association of Realtors (NAR), reveals:

“A typical homeowner in 2020, just by being a homeowner, would have accumulated around $24,000 in housing wealth.”

What will happen with home prices this year?

Many experts believe buyer demand will soften somewhat as mortgage rates are poised to bump up slightly. Some also believe the inventory challenge will ease as more listings come to market this year.

Home Prices: What Happened in 2020? What Will Happen This Year? | MyKCM

Based on this, most forecasters anticipate we’ll see strong appreciation in 2021 – but not as strong as last year. Here are seven prominent groups and their projections:

Bottom Line

Home price appreciation will be strong this year, but it won’t reach the historic levels of 2020. Let’s connect if you’d like to find out what your house is currently worth in our local market.

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Time For A Pest Inspection

16 Friday Aug 2019

Posted by rozalynf in South Carolina Living, Uncategorized

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#Homepestcontrol, #Kellerwilliamspreferred, #RMFRealty, #Rozalynfranklinrealtor, #SCRealtor

screenshot660Time For A Pest Inspection

Termites and other insects aren’t just annoying to have in your home. They can cause real damage to the structure.
Living in South Carolina its important to maintain your home against termites and other insects.

A regular inspection of your property by a pro can head off at the pass any problems before they become too serious. A routine inspection of the interior of your home, including attic and basement, as well as the exterior will give you some peace of mind.

I would recommend researching pest control companies who offer termite bonds. 10 Ten Termite Control Companies
A termite bond is a contract between a pest management company and a homeowner which provides a form of insurance which is effective after a pest inspection and treatment. With a termite bond, treatments for recurrence of termites are free for the life of the bond. Not all pest management companies offer these bonds, and the terms of the bond can vary, but they can be very useful for homeowners, especially if people believe that they will be staying in their home for at least five years.

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Homeowners: Now Is A Good Time To Sell Your House

16 Tuesday Apr 2019

Posted by rozalynf in Columbia tell me what you think?, Selling your Columbia Home, South Carolina Living

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#Greattimetosell, #RMFRealty, #Rozalynfranklinrealtor, #SCRealtor

Homeowners: Now Is A Good Time To Sell Your House | MyKCM

Homeowners: Now Is A Good Time To Sell Your House

Every month, the National Association of Realtors (NAR) releases their Seller Traffic Index as a part of their Realtors Confidence Index. In the latest release, NAR reported that homeowners have been reluctant to sell their houses. This is reflected when broken down by state. Only 11 states have a stable level of seller traffic compared to the remainder of the country, which came in with a weak rating.

As we can see in the following table, the number of people who moved last year is half of what the rate was in the 1980s.

Homeowners: Now Is A Good Time To Sell Your House | MyKCM

This does not come as a surprise, as tenure length (the number of years someone owns a home before moving again) among existing homeowners has increased. It has risen from an average of 6 years from 1985 to 2008, up to 9.5 years over the last few years. This is shown in the graph below:

Homeowners: Now Is A Good Time To Sell Your House | MyKCM

As we can see, there is a pent-up seller demand!

What led to this change in behavior? Falling prices during the housing crisis led to many homeowners having negative equity in their home, meaning they owed more on their mortgage than the home was worth. Others were able to secure a low interest rate on their mortgage and have not been quick to obtain a new mortgage with a higher rate.

Will this trend continue?

Recently NAR reported that “69% of people believe now is a good time to sell a home.”

With a strong economy, low interest rates, and wages continuing to rise, some homeowners will be ready to put their house on the market and move up to the home of their dreams!

Bottom Line

There is a great opportunity for sellers to take advantage of the current real estate market before new inventory comes to market. If you are considering selling your house or would like to know your options, let’s get together today to help you understand the possibilities available to you!

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Why an Economic Slowdown Will NOT Crush Real Estate this Time

07 Thursday Mar 2019

Posted by rozalynf in Home buying, South Carolina Living

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#Kellerwilliamsrealty, #RMFRealty #SCRealtor #Rozalynfranklinrealtor

Why an Economic Slowdown Will NOT Crush Real Estate this Time

Why an Economic Slowdown Will NOT Crush Real Estate this Time | MyKCM

Last week, the National Association for Business Economics released their February 2019 Economic Policy Survey. The survey revealed that a majority of the panel believe an economic slowdown is in the near future:

“While only 10% of panelists expect a recession in 2019, 42% say a recession will happen in 2020, and 25% expect one in 2021.”

Their findings coincide with three previous surveys calling for a slowdown sometime in the next two years:

  1. The Pulsenomics Survey of Market Analysts
  2. The Wall Street Journal Survey of Economists
  3. The Duke University Survey of American CFOs

That raises the question: Will the real estate market be impacted like it was during the last recession?

A recession does not equal a housing crisis. According to the dictionary definition, a recession is:

“A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.”

During the last recession, prices fell dramatically because the housing collapse caused the recession. However, if we look at the previous four recessions, we can see that home values weren’t negatively impacted:

  • January 1980 to July 1980: Home values rose 4.5%
  • July 1981 to November 1982: Home values rose 1.9%
  • July 1990 to March 1991: Home values fell less than 1%
  • March 2001 to November 2001: Home values rose 4.8%

Most experts agree with Ralph McLaughlin, CoreLogic’s Deputy Chief Economist, who recently explained:

“There’s no reason to panic right now, even if we may be headed for a recession. We’re seeing a cooling of the housing market, but nothing that indicates a crash.”

The housing market is just “normalizing”. Inventory is starting to increase and home prices are finally stabilizing. This is a good thing for both buyers and sellers as we move forward.

Bottom Line

If there is an economic slowdown in our near future, there is no need for fear to set in. As renowned financial analyst, Morgan Housel, recently tweeted:

“An interesting thing is the widespread assumption that the next recession will be as bad as 2008. Natural to think that way, but, statistically, highly unlikely. Could be over before you realized it began.”

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Welcoming You Plants Back After A Long Winter

04 Monday Mar 2019

Posted by rozalynf in South Carolina Living

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#Plantlife, #RMFRealty, #SCRealtor, #Southcarolinaliving





If you’re a gardener, or at least want to be one, there’s no time as amazing as early spring. This is when your plants are starting to wake from their long winter’s sleep. The white snow and frost flowers are giving way to green grass and emerging vegetation that seems to multiply like magic day after day.

Although a lot of people sit back and wait for their plants to do whatever it is that they do in early spring, others, like you, are eager to help them be all they can be this year.

The Results of Minimum Plant Care

Many homeowners just let their plants come and go as they please. Usually, they’ve inherited the vegetation from the former owner and have little interest in gardening. It’s ok, it’s not for everyone. But, due to this minimal care for the plants, many varieties will start to die off from neglect. A slow death is still a death.

Obviously, you’re looking to do a bit more to help your plants get off to a good start. Because of this, your landscape will be healthier, live longer and produce more ornamental flowers than those of the neighbor who would have preferred a lot of grass and no plants to tend.

First Thing’s First, Reduce Your Plant’s Risk of Early Season Fungus

There are varieties of herbaceous perennials like bananas, cannas and elephant ear that can survive the winter in many climates if they’re tucked in under a layer of organic mulch that’s two to four inches deep. While mulch protects them from drying out or freezing to death when it’s cold, once these types of plants start to grow in the spring, that life-saving mulch can become a real enemy.

It’s vital that you pull back the mulch from your plants every few days to check for green growth above ground. Once you see it, hollow a moat out between the plant and the mulch. Make sure no mulch is touching the new growth and that the moat you’ve scooped is about two inches wide to allow for further safe development.

Several opportunistic fungi will take advantage of young, green growth that’s constantly touching something moist, like that mulch. There’s a fine line here, tread carefully.

Soil Testing and Amendment

If you have a garden plot and failed to fertilize it in the fall, now is the time to get to it. As soon as you can work the soil, take several samples and either use a home test kit to determine the condition of the soil or have them analyzed by your local university extension’s lab. The extension tests are generally around $10, but the cost varies by location.

Either way, you’ll have some kind of indication about the condition of your soil, as well as what you can do to fix any problems. For example, you may find that your soil is low in nitrogen, a vital nutrient for plants that grow a lot of leaves very quickly, like your lawn. In this case, you’ll follow the instructions for feeding the type of plant you intend to place in the tested area, using a precise amount of fertilizer, so as not to encourage long, spindly growth in those eager plants.

The same applies to other types of fertilizer, including balanced fertilizers like 10-10-10 and 15-15-15. Most established perennials are fine with fertilizer that’s mixed into the top two to five inches of soil, but always check before you get too wild with it. A few species may have unusual reactions, including but not limited to developing an overall burned or wilted look due to root destruction. Never apply more fertilizer than necessary due to the risk of runoff and pollution of waterways.

Turn the Sprinklers On!

Once the nighttime temperatures are consistently above freezing, you’re ready to turn the water back on. Your plants will appreciate the long, deep drink and you’ll be happy to not have to water each one by hand. Remember, when turning irrigation systems back on after being drained, do so slowly. Opening the valve too quickly can result in a high-pressure water surge that can rupture sprinkler heads or burst fittings.

Be prepared to turn the system back off if a surprise freeze creeps on, but waiting as long as possible to get the irrigation started again is also a fairly safe bet.

Check for Signs of Insect Infestation

As your plants start to bud, you’ll be able to tell if they’ve developed any problems during the winter. Generally, these are caused by insect infestations, but in ornamental and fruit trees, a whole range of fungal invasion is also likely.

Small holes in the trunks of trees and shrubs are likely caused by boring insects like clearwing moths, which spend most of their life cycles inside the plant. This makes them very hard to get rid of and often results in the hollowing of the interior of limbs and branches. Those hollow branches pose a major risk to anyone walking below, as they can reach a point where they are no longer structurally sound and suddenly break away from the tree.

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