Published: May 01. 2009 10:36PM

By Kondria Woods
CONTRIBUTING WRITER

If real estate were a carnival ride, it would be a roller coaster, filled with dizzying heights and stomach-churning plunges, and generous helpings of intriguing twists, turns and breath-taking loops that send riders head over heels.

The ride may be going through a dimly lit tunnel now, but there is light up ahead. If you’re in the market for a great piece of property, now is the time and Greenville is certainly the place.

“On the positive side, interest rates are fantastic,” said David Crigler, senior vice president and general manager, residential division, at Prudential C. Dan Joyner Company. “Many buyers are looking to take advantage of the rates, along with the ‘sale’ prices available in some locations. Sellers need to have their homes in top condition, preferably staged by a professional, as buyers are looking for turnkey condition.”

Crigler said the area is doing as well as any region of the state or the country with regard to real estate activity. Buyers are looking for good schools, solid neighborhoods and locations close to downtown are still in demand.

“We are finding that more and more people are choosing the Upstate for their retirement,” says Cheryl Teague of RE/MAX Realty Professionals. “With the upgrades to all of our hospital systems, the four seasons we experience and the central location, we have become a very desirable place to live. We have the best of all worlds in being so close to the mountains and the ocean. Greenville also has a great collection of arts, music and sports venues.”

Teague said her team is also seeing quite a few “snowbirds” creating nests of their own in the Upstate. People who left the cold northern climate for the warmth of Florida are returning “halfway back” to enjoy the wonders of the Upstate.

“After the rise in insurance rates, the destructive hurricanes and the tax burdens, Floridians who moved there are now rethinking their initial decision,” she said. “We are also witnessing another group moving straight from the northern cold into the more desirable climate of Greenville instead of farther south.”

Brad Pierce of Prudential C. Dan Joyner added, “I work with many buyers from the Northeast and the coastal areas of Florida. A number of buyers from Ohio are seeking our assistance as well. Even more exciting, Greenville attracts new residents from around the world. People recognize the Upstate as a very dynamic and business-friendly community, and retirees have discovered our cost of living is great when compared with more traditional retirement cities. Our mild climate, affordable health care and lower taxes play a big part in it. The beautiful lakes, mountains and fantastic golf communities tip the scales in our favor.”

Pierce noted that downtown condos have been popular with many prospective buyers who are looking for higher-end homes without the maintenance required by a traditional house. Several options are available overlooking the Wyche Pavillion, and newly renovated lofts recall the charm of the past while celebrating modern spaciousness.

“What could be easier than a short commute home, to walk with the family to dinner or enjoy the atmosphere of Downtown Alive?” Pierce said. “They are perfect for those who want to stay near the action, but don’t want to give up the larger living space.”

The trends are showing the equation for success: low interest rates plus great inventory times the best amenities equals Greenville, S.C. There’s something for everyone, and every area of the city holds promise.

“The Eastside remains a very popular area,” Pierce said. “The North Main communities also continue to do well. Many times, homes in historic areas, such as Augusta Road, sell by word of mouth between residents and agents, long before the homes have a chance to enter the market.”

Brad Halter, President/General Manager with Coldwell Banker Caine warns that prospective buyers may want to spend some time looking at more than just the home they hope to own.

“In this market it is prudent to take a harder look at surrounding properties and neighborhoods when deciding on where to purchase your next home. The conditions that exist could have an adverse impact on your potential investment. Try to avoid neighborhoods that are in obvious decline and/or foreclosure. Be very aware of current values and the state of the appraisal and banking industries. All offers should be contingent on appraisal, regardless of location or age.”

Gisele Anthony of Jubilee Realtors said she has seen keen interest in mixed-use developments, which fits right in with the activity happening around Woodruff Road and Verdae Boulevard.

“I have observed sustainable communities — locations that are self-contained, mixing residential, retail, educational and recreational space — beginning to emerge throughout the state. These communities have thrived in Europe for many years. Economic concerns (about the market) make these types of communities very appealing. They are most often located in areas with potential for high financial growth, further guaranteeing property values.”

Though the view of the mountains is always dazzling, the allure of the coast can be hard to resist. Martha Pope of Pope Real Estate has seen the area around Sunset Beach, Holden Beach and Ocean Isle off the southeastern coast of North Carolina maintain its value and its incredible beauty.

“We’re located halfway between Wilmington, N.C., and Myrtle Beach,” said Pope. “Most of the homes here are second homes, and the prospective buyers are looking for second homes. Our family-oriented beaches are a big draw, and the mainland has excellent golf courses. Our proximity to the Intercoastal Waterway allows the option of having a home with your own dock that also allows access to the white sand beaches. They don’t make more coastal beachfront property, and that limited supply has driven the cost of those properties.”

Pope said the area was one of the last to show signs of slowing down, and she is confident in the resilience of the second homeowners who populate the area.

Crigler added, “The second home market is interesting. According to our agents that service the Upstate lake areas, the lower end — the $500,000 to $700,000 range of the second home market — is where the activity is at this time. At Kiawah, on the coast, the upper end — $2.5 million and up — is where most of the activitiy seems to be.”

For many of those new faces, whether they are heading to the coast or to the Upstate, it’s time to do some research. While the Internet is generally the first stop before the first mile is driven or the first step is taken in a new locale, nothing beats gaining an understanding of the real estate market from a local.

“More and more people are enjoying the privacy of their own home to search for homes at their leisure,” Teague said. “The latest statistics are telling us that more than 85 percent of the purchasers are starting their search online. However, during the serious steps of the home buying process, purchasers want the security of a professional real estate agent handling the transaction and protecting their interests with the largest purchase they may ever make.”

Pierce agreed, adding, “I am amazed at how a seemingly simple transaction can grow complicated in a matter of minutes. Buyers want an advisor to help them navigate the closing process and coordinate all of the players — attorneys, paralegals, inspectors, appraisers, lenders, insurance agents — involved in a real estate transaction. It must be someone with a trusted team who can jump in there to keep things on track.
“A buyer’s agent will ensure the buyer’s interests are protected. It is time consuming and can be very stressful without knowing where to get answers. Informed buyers hire an agent to help avoid the stress and risks. There is no doubt finding a home (on the Internet) is simple. Closing on a home and getting the keys is not.”

The market is brimming with impressive properties at every price point. According to Anthony, demand and supply for new single-family homes with at least three bedrooms and two bathrooms is wide-open, and buyers are keeping a sharp eye out for key amenities.

She said, “Even luxury buyers are looking for special touches that are functional, like opening indoor rooms to the outdoors via glass sliding walls, water conserving plumbing fixtures and bottomless water tanks, and eco-friendly homes.”