Where the Numbers Say Our Market Is Headed

For your latest Midlands market overview, I’ll compare some key year-over-year statistics.

Where is the Midlands real estate market headed? To answer that question, I’ll compare the key statistics from the first three quarters of 2019 with the numbers from 2018. Most of what we’re seeing is positive, but there are certain nuances you need to be aware of whether you’re buying or selling.

Follow along in the video above to see my full market overview. For your convenience, I’ve added timestamps so you can jump ahead to various sections at your leisure: 

0:50—The number of properties on the market rose 1% from 13,103 to 13,252, and the number of properties sold dropped slightly from 9,595 to 9,558

1:44—What this means

2:09—Why not all inventory is equal

3:18—The average list price rose from $211,470 to $236,902, and the average sold price rose 5.5% from $206,504 to $217,742

4:18—If you market, merchandise, and price your home correctly, you’ll sell for top dollar

5:03—The average days on market dropped from 58 days to 53 days

6:00—How statistics can vary between different types of homes

7:02—Wrapping things up

As always, if you have any more questions about our market or you’re thinking of buying or selling a home, don’t hesitate to reach out to me. I’d love to help you.

The difference between 2 of our home seller programs

Here’s the difference between our guaranteed sale program and our buyout program.

What’s the difference between our guaranteed sale program and our buyout program? Each of these
programs benefits different home sellers in different ways. 

Our guaranteed sale program is meant to sell your house quickly and for top dollar. In short, it
guarantees a home sale because it states that if we can’t sell your home within the agreed-upon time
frame, we’ll buy it ourselves for up to 90% of the list price. 

The buyout program is designed for homes that are not in the best condition or can no longer
be cared for and just need to be sold. It’s ideal for things like an estate sale. In a situation like this,
perhaps the heirs of the estate live out of state or the house is an old rental property that’s been
neglected. 

"Each of these programs benefits different home sellers in different ways."

For example, we recently did an estate sale where the house was bought for the children of the
owners to live in while they attended college. Well, as you can imagine, after 15 years, this home
looked like a giant dorm room. After it served its purpose, the owners wanted to get rid of it. 

When utilizing the buyout program, we come out to your property and make you an offer. If it’s an
offer you can agree to, we’ll buy the home as-is and close within two to three weeks. 

If you have any more questions about either of these programs or you’d like to use one for a home
you need to sell, don’t hesitate to reach out to us. We’d love to help you.

Real Estate Is Local, But How Do You Use That Information?

Real estate is local, and using that knowledge to help you means hiring a local expert

when selling your home.

We all know that real estate is local, but how do you use that information?

If you’re selling your home, you use it by hiring a local expert to help you. Go with the people who
know the marketplace here in the Midlands of South Carolina. They know the area, they know the
process, and they know the people.

When picking out a local expert, there are three criteria you need to remember:

1. They must have been in the industry for a long time.
2. They must have performed many transactions year after year, in both good markets and bad.
3. They must have a successful home-selling system.

To that last point, we at the Lance Woodley Team have a home selling system that’s both proven
and duplicatable. We can apply it to your home the same way we’ve applied it to thousands of others.
It’s backed by market research, and more importantly, it gets results.

So if you’re thinking about selling or you’d just like to know your home’s value, don’t hesitate to reach
out to us. We’d love to help you.

As always, if you have any other real estate questions, feel free to get in touch with us as well.
We look forward to speaking with you.

How Do We Use Merchandising to Sell Our Homes?

Merchandising is one part of a successful home selling strategy. Here’s how our team does it.

Today we want to talk about something that we think is very important when you’re trying to sell
your house: merchandising.

A lot of times, people don’t understand the art of making your house look great. It will take
cleaning, decluttering, depersonalizing, upgrading, updating, and more. Merchandising is one of the
things we do for our clients to help them sell fast and for top dollar.

We can make it even easier for you because we have the contractors necessary. A lot of times,
all that is needed is a little furniture adjustment.

If you’re interested in selling your house quickly and for top dollar, give us a call today. We’ll take
a look at your house, give you our opinion on its value and let you know what you can do in
order to sell it for top dollar.

If you have any questions for me in the meantime, don’t hesitate to give me a call or send me an
email. I look forward to hearing from you soon.

Here’s How You Can Sell Your House As Is

We have a way to sell your home as is and without any hassle.

You may have heard of our Guaranteed Sale Program, but did you know we have another program
that allows you to sell your house as is?

Sometimes, for a variety of reasons, people need a home sale done quickly and easily. Perhaps
they’re doing an estate sale. Or maybe they’ve lived in their home for a long time and haven’t made
any updates to it.

Whatever your situation, if you have a home you need to sell quickly, we have an investment group
that will make you a cash offer on your house as it is. If the program works for you, you’d get
paid in cash and go through a quick closing (usually within two to three weeks).

If you’d like to take advantage of this program or you have any other questions about it, don’t
hesitate to give me a call or shoot me an email. I look forward to hearing from you.

Q2 2017 vs. Q2 2018: How Has Our Real Estate Market Changed?

How did this year’s second quarter real estate market stack up to what we saw in 2017? Let’s find out today.

Whether you’re a buyer, seller, investor, or homeowner, understanding local market trends will be
critical to your success. That’s why today, we’ll be comparing the second quarter of 2018’s real
estate market to the second quarter from 2017 to determine how our Midlands area market has
changed over that time.

First of all, there were slightly more active listings on our market during this year’s second quarter than
what we saw last year, with there being 4,861 active listings in Q2 of 2017 and 4,998 in Q2 of this year.
Of those listings, 75.23% sold this year, while just 71.6% of those listed last year successfully
closed.

The average list and sale prices have also risen. This year, the average sale price during our second
quarter was $200,250. During the second quarter of 2017, though, the average sale price was
$195,382. This constitutes a year-over-year increase of 9.75%. Of course, this figure only accounts
for the average property values. Not every home in the Midlands rose in value by this amount,
but the statistic does give us a good indication of how our market has developed.

Another area of change we’ve seen in the last year is the rate at which homes are selling. Homes
during this year’s second quarter spent an average of 56 days on the market, while homes during the
second quarter of 2017 spent an average of 65 days on the market.

With all of these factors in mind, it’s clear that our real estate market right now is very solid. Those
who are thinking of buying have a great opportunity to do so. In fact, the faster you make your
home purchase, the better.

So, if you have any other questions, would like more information, or would like our help in making
your move, feel free to give us a call or send us an email. I look forward to hearing from you soon.

Should You Stay or Should You Go?

Should you stay or should you go? Here is how we are helping homeowners answer that question.

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Today the big question is this: Should I stay or should I go? Remember the song? Well, a lot of
homeowners are singing it in their heads while they ask themselves this question. Some people need to
downsize, some people need to upgrade for their growing family, and some people want to be in a
different part of town.

However, there is one common thread between every one of our clients. When they sell their
house, they want it sold fast and for top dollar. With our professional home selling system, we can do
that. If they are also buying a home, they want to have some coordination. We can help with that too.
We have the most efficient system for finding the perfect house for you, and we have the tools and
negotiating skills to get you the best home for you for the very best price.

“

We want to make it easy for our
clients because that is our job.

”

Oftentimes, we actually close on our client’s home sale in the morning and their home purchase in the
afternoon. We want to make it easy for our clients because that is our job and that is what we
want to do.

If you have any questions about how we help our clients buy or sell a home or you need any help
buying or selling a home anytime in the near future, please feel free to give me a call or send me an
email anytime. I look forward to hearing from you soon.

Our Next Success Story Could Be Yours. Here's What You Can Expect

Gary trusted that I would bring him the results I had promised.

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Today I would like to give you a glimpse into the story of one of our clients: Gary David. For years, Gary had been telling his wife that if the time ever came to sell their home, they would come to me to get the job done.

So when Gary’s kids left the nest and the time came to downsize, they finally followed through with what they had been considering for years. Of course, even after years of talking about selling their home with me, I was sure that Gary must have made that initial phone call to my office with a shred of doubt in the back of his mind. It is only natural when making such a massive decision to wonder whether you are making the right choice, after all.

When I asked Gary if this was the case, he responded by reminding me of an interaction we had sitting on his property the day before it went active on the market. He asked if I remembered telling him that I really wanted to get his home sold in just one day and, of course, I did recall.

Well, just hours after Gary’s home went active, we had already scheduled six or seven showings. From the time his property went live at 10 a.m. on a Friday morning, it only took until 11 a.m. on Saturday morning for an offer to come in. Then, at 1 p.m. on Sunday afternoon, the contract was signed for a price Gary himself didn’t believe would be possible.

Gary had seen our success stories in the past, and after seeing the way we prepared and managed his listing, he told me “I’m not going to question you, now, Lance.” Gary trusted that I would bring him the results I had promised.

Of course, I can’t take all the credit. Much of Gary’s success story comes down to his own willingness to follow my system. I appreciate Gary and his readiness to share his own success story, and if you are considering taking the next step toward your real estate goals, I hope you will think about allowing me to help.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

2017 Quarter One Market Update

Today I wanted to update you on the state of the real estate market in the Midlands and how our first quarter turned out.

We’ve got good news. The market continues to improve, and today I want to give you some statistics from the first quarter of 2017 for you to think about.

This time last year, in the first quarter from the 1st of January to the end of March, 2,423 houses went on the market and sold. This year, the number of properties sold in the first quarter jumped up to 2,663. This is an almost 10% increase in volume.

Homes have also sold quicker this quarter than the same time last year. We’re seeing a 10% decrease in the time it takes for a home to sell this year, which is great for our market.

More houses are selling at higher prices, and they are selling closer to the asking price.

Home prices have also gone up in the Midlands this quarter compared to the first quarter of 2016. This time last year, houses were listed for an average of $179,482. This year, the average home price has gone up to $182,332. This 1.6% increase seems small, but it is a sign that the market is going in the right direction.

We’ve also noticed that the “negotiable factor,” or the amount that the average seller has to discount in a negotiation, has seen a bit of a shift as well. Last year, sellers were getting 96.75% of their list price on average. This year that average has gone up to 97.07%, which is pretty great.

More houses are selling at higher prices, and they are selling closer to the asking price. This all good news—we are going in the right direction. The Midlands is not only a great place to live, but real estate in the Midlands is a good investment as well.

If you have any other real estate questions or you’re looking to buy or sell a home, please don’t hesitate to reach out. I’d be happy to help.

Who Benefits Most From the 2016 Market Upswing in Columbia?

How did the market improve in 2016? The Columbia area has been on an upswing for the last four years, but 2016 was an exceptional year for real estate. Here's what that means for you.

Today I wanted to give you a quick comparison of the 2015 and 2016 markets here in Columbia. How did the market change?

This great news is that as we suspected, the market is on a rebound. We've seen increases in the market for about four years in a row now. Without getting too complicated, let's take a look at how the market improved last year.

In 2015, we had 16,424 properties active on the market for sale, and 10,290 sold. In 2016, there were 16,508 properties on the market for sale, and 11,483 of them sold and closed. That's good for a 9% increase in volume off of almost the exact same amount of listings, and that's great. 

The big question everyone wants to know about is price. Are homes growing in value again?

Yes!

In 2015, the average home in the Midlands sold for $180,568, and in 2016, the average home sold for $189,641. That's a 9.5% increase in price, which is fantastic for the Midlands. In this area when we're doing well, we usually expect a 3% or 4% appreciation rate, and to have an appreciation rate pushing 10% is incredible! 

To see appreciation pushing 10% in 2016 is simply incredible in our market.

Going forward in 2017, we're looking for a lot of good things. The year started with a bang thanks to a lot of properties going under contract and a lot of homes coming on the market. As always, the properties that follow a good sales regimen will sell faster and for more money.

I hope this news makes you as happy as it makes me! If you're interested in learning more about your home's value in our market, give me a call or send me an email. I look forward to hearing from you soon.

How the Woodley Team Beats Columbia Market Averages

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I wanted to take a look at the Columbia market and what happened in the first six months of 2016. Great news - things are going up!

Compared to the last six months of 2015, we had just about the same (within 20) properties listed for sale, but this year, we had about 600 more homes sell. The average list price was a little more than $203,000, whereas last year the average list price was just a little more than $189,000. When comparing achievable home prices in this same timeframe, we see that there has been a 5% increase in price, and that is great.

There has been almost a 10% increase in volume of sales, as well. Between list price and sales price, there has been about an 11% difference. We call this the negotiable index.

Our team beats the market average in price and time.

When we look at the Lance Woodley Team, we see numbers that are different, and that's good news for you. Our houses have sold for a 7.5% higher margin than the average home on the market. The difference between list price and close price on our listings has only been 3.7% on average, instead of 11%. In terms of numbers, on a $200,000 house, that would equate to $15,000 more in your pocket!

You'll also sell your home 12.6% quicker with the Lance Woodley Team. 

If you'd like any additional information about these figures and how our system beats the average, give us a call or send us an email. We'd love to show you what sets our team apart and makes you more money!

Don’t Get Tricked into Paying Extra Property Taxes on Your South Carolina Home

Columbia South Carolina Real Estate expert discusses how to avoid being taxed too much.

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Today we are going to take a moment to discuss property taxes and how they affect you as a homeowner here in South Carolina. Very soon, property tax bills are going to come out. It’s important that in your primary residence, you are only taxed at a 4% rate. 
 

 In South Carolina, when a property transfers from one owner to another, the tax rate will automatically jump to 6% like it is an investment property. You may think increasing your tax bill by a third isn’t that big of a deal, but it will actually double or triple your tax bill. You do not want that.

When you get the property tax bill for your primary residence, check it and make sure you are getting taxed at a 4% rate. If you aren’t, you can always give us a call and we will help you get everything sorted out. We look forward to talking with you again soon!

What's Happening with Columbia Real Estate?

How is the real estate market in Columbia doing? Today, we'll compare numbers from the first of this year to the same time period in 2014.

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How is the real estate market in Columbia doing? We looked back from the first of this year through to now. Today, we'll compare those numbers to the same time period in 2014.

Right now, there are 27,000 active properties on the market. That is down 1% from last year, which is good news. Properties are being absorbed by a quicker rate now compared to last year.

This year, the average sales price was a little over $178,000, which is up 4% from last year. That's a 4% appreciation, which is great news! Properties are going up in value.
 
This year, 10,000 homes have sold in our area. Since there are still 27,000 active homes on the market, we know that over a third of homes are selling. That places us in a slight buyer's market. We're not in a raging buyer's market, but there is more inventory available than what's moving.

Finally, the list to sales price ratio is up 0.5%. This means that sellers are 0.5% closer to getting their list price this year than last year.

As you can see, volume is up, inventory is down, and sales prices are up. This is great news! We expect this great news to continue into 2016. While the market is up 3% overall, our team is up 11% year over year.

If you have any questions, give us a call or send us an email. We look forward to hearing from you!

Why Is a Pre-qualification So Important in Columbia?

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Today we're joined by Heath Goodrich of Lending Path Mortgage, and he's going to be speaking about the importance of being pre-qualified for a mortgage loan.

A lot of buyers believe that the first part of the process is to go out and search for homes, but what you should do before anything else is speak with a mortgage lender and figure out what you can afford to buy. 

When you know how much you can afford, you can narrow down your options dramatically, and this makes searching for a home much simpler.

The first step in this process is to give Heath a call at (803) 765-9399. You will speak for about five to ten minutes and apply on the phone, and then in 24 hours he can analyze your situation and find you the best loan product possible. 

Once you have this information you can begin the buying process, and as a pre-qualified buyer you have a better chance of standing out in a crowded market. Sellers will know that you are serious about buying, and they will be much more likely to pick you in a multiple offer situation.

Please don't hesitate to contact us if you need to buy or sell in Columbia, we would be pleased to assist you!

How Can You Enhance Your Home's Exterior?

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Hey everyone, welcome back to our blog. We talk a lot about the importance of physical appearance when it comes to selling your home. Most of the time, we are talking about the interior staging of your home, but the exterior of a home is often overlooked.

You know, there's an old saying in real estate that goes: "The outside brings them in, and the inside sells them."Having a great looking yard and positive curb appeal will get those buyers into your home this summer.

Over the years, it's very easy to keep your yard looking great. When you fertilize, de-weed, water, and cut regularly, you can make your grass look like a golf course. It's very easy to do if you're on a regular schedule, and it will be a huge benefit when it's time to sell your home. 

If you have any questions for us, feel free to reach out via phone or email. We look forward to speaking with you!

Why 2015 is the Time to Sell Your Home

There are many excellent homes to choose from in the Columbia area, with a variety of local real estate markets that have properties of great quality available for purchase. If you're considering buying real estate in the Columbia area, GO HERE to perform a Full Home Search, or if you're in the process of selling your home, CLICK HERE to obtain a Free Home Value Report. For any other questions you have regarding the market conditions of Columbia real estate, or your own home's value, please don't hesitate to contact me at  (803) 407-3883.

We sold 150 homes in 2014, which is up by more than half of what we sold last year. People have been asking us how we did this, and it's because we associate ourselves with some of the top minds in the business. Barbara Corcoran from The Shark Tank was with us in December and was extremely happy to see how well we were doing.

Our clients have been impressed by the systems we have, and that's because they are proven to work and can be duplicated. We can be confident in selling a home because we use market research in our sales techniques. 

On top of this, the market here in Columbia showed real signs of growth, and a lot of people were satisfied with the prices they received on their homes.

In 2015, our goal is to sell more than 200 homes. We think this is within reach because interest rates have taken a dip recently, which will spur a lot of market activity in Columbia this winter. 

This tells me that now may be the time to make your move and sell your home before interest rates climb back up. With higher rates, a portion of buyers will be knocked out of your pool because they can no longer afford a higher monthly mortgage from increased interest rates. This is why right now may be a very good year to sell your home.

If you are considering selling your home in Columbia, we urge you to get into contact with our team. You just can't lose with us!