Find Out Why People Are Retiring in South Carolina in 2016

  • By Eddie Yandle
  • 21 Dec, 2016

Brand New Luxury Homes in a Golf Course Community- Ready Now

If You haven't heard about The Villas at Woodcreek Farms - Please keep reading! This sought after location is moving into phase two with its last remaining homesites taking reservations now.  In a great location near the community Country Club,  The Villas features luxury interior finishes,  2-5 bedroom floor plans, master downs and gourmet kitchens.  A gated entry s ets this neighborhood apart as one of the only maintenance free single family neighborhoods in the area- 
THE VILLAS is about easy, MAINTENANCE-FREE living! Take your weekends back and spend time doing what matters most. Built by one of Columbia's finest custom home builders; EXECUTIVE CONSTRUCTION HOMES. All brick homes in a gated community surrounded by walking trails, tennis, golf, restaurants, & shopping = RETIREMENT in STYLE! Stop by the model today and start living the lifestyle you have EARNED!

Within the next five years, Baby Boomers are projected to have the largest household growth of any other generation during that same time period, according to the   Joint Center for Housing Studies of Harvard.   Let’s take a look at why…

In Merrill Lynch’s latest   study ,   “Home in Retirement: More Freedom, New Choices”   they surveyed nearly 6,000 adults ages 21 and older about housing.

Crossing the “Freedom Threshold”

Throughout our lives, there are often responsibilities that dictate where we live. Whether being in the best school district for our children, being close to our jobs, or some other factor is preventing a move, the study found that there is a substantial shift that takes place at age 61.

The study refers to this change as “Crossing the Freedom Threshold”. When where you live is no longer determined by responsibilities, but rather a freedom to live wherever you like.   (see the chart below)

As one participant in the study stated:

“In retirement, you have the chance to live anywhere you want. Or you can just stay where you are. There hasn’t been another time in life when we’ve had that kind of freedom.”  

On the Move

According to the study, “an estimated 4.2 million retirees moved into a new home last year alone.” Two-thirds of retirees say that they are likely to move at least once during retirement.

The top reason to relocate cited was “wanting to be closer to family” at 29%, a close second was “wanting to reduce home expenses”. See the chart below for the top 6 reasons broken down.

Not Every Baby Boomer Downsizes

There is a common misconception that as retirees find themselves with less children at home that they will instantly desire a smaller home to maintain. While that may be the case for half of those surveyed, the study found that three in ten decide to actually upsize to a larger home.

Some choose to buy a home in a desirable destination with extra space for large family vacations, reunions, extended visits, or to allow other family members to move in with them.

"Retirees often find their homes become places for family to come together and reconnect, particularly during holidays or summer vacations."

Bottom Line

If your housing needs have changed or are about to change, meet with a local real estate professional in your area who can help with deciding your next step.

Columbia New Home Blog

By Eddie Yandle 03 Jul, 2017
COLUMBIA FIREFLIES:   Catch the Fireflies at Spirit Communications Park from Friday, June 30 through Monday, July 3, as they square off against the Rome Braves. Will there be fireworks? Heck yeah – Friday, Saturday and Monday nights.   1640 Freed St.

LEXINGTON BLOWFISH:   Baseball and fireworks on Saturday, July 1 (USC alumni); Monday, July 3 (Martinsville Mustangs); and Tuesday, July 4 (Florence Redwolves). On the Fourth, there’s a dog parade, too. Fireworks follow the games at the Lexington County baseball stadium.   474 Ball Park Road, Lexington.

BORN IN THE USA 4-MILER AND 4-MILE TEAM RELAY:   It starts at 7:04 a.m. Tuesday, July 4. It’s a flat and fast course that takes you past lakes and a golf course, starting at Trenholm Road and Forest Drive.   Register:   www.strictlyrunning.com

ICEHOUSE AMPHITHEATER:   The 246th Army Band will play a free concert at 7 p.m. Monday, July 3, before a fireworks display.   107 W. Main St., Lexington.

SALUDA SHOALS PARK:   The Lake Murray Symphony Orchestra’s Star-Spangled Symphonic Salute is 8 p.m. Monday, July 3.   5605 Bush River Road. $5 per car.

LEXINGTON COUNTY PEACH FESTIVAL:   There’s something oh so American about a day that includes a peach recipe contest, a car show, a peach parade, live music and, obviously, fireworks. The festival starts at 9 a.m. Tuesday, July 4, at the Gilbert Community Park with fireworks at 10 p.m.   110 Rikard Circle, Gilbert.

"Star Spangled Symphonic Salute" Concert | Lake Murray Symphony Orchestra

Saluda Shoals Park!
Patriotic concert at Saluda Shoals Park! Broadway songs, patriotic music and sing-a-longs. Bring picnic blanket or chair. Children's activities. 7pm. More   here.

246 Army Band | Icehouse Amphitheater

Monday, July 3, 2017  
The 246th Army Band will take the stage at 7pm and play great patriotic music. Food and beverages for sale - lawn chairs are welcome. Fireworks display for the finale. More   here.


Uncle Sam Jam | Mount Pleasant Pier

Tuesday, July 4, 2017  
Dance to live beach music at the Mount Pleasant Pier! At the foot of the Arthur Ravenel, Jr. Bridge, the Pier is a great spot to watch the fireworks displays! Live Carolina beach and party music from Recollections. More   here.



By Eddie Yandle 08 Jun, 2017

To start the year, housing experts all agreed on one thing: 2017 was going to be the year we would see mortgage interest rates begin to rise. After years of historically low rates, and an improving economy, the question wasn’t   if they would increase   but instead   how much they would increase . Some thought we could see rates hit 5-5.5% by the end of the year.

However, the exact opposite has happened. Instead of higher rates as we head into the middle of 2017, we now have the lowest rates of the year (as reported by   Freddie Mac ). Here is a graph of mortgage rate movement since the beginning of the year:

By Eddie Yandle 07 Jun, 2017

69% of Buyers are Wrong About Down Payment Needs


According to a recent   survey   conducted by   Genworth Financial Inc.   at the   Annual Mortgage Bankers’ Association Secondary Market Conference , 69% of mortgage professionals say that first-time buyers still believe a 20% down payment is necessary to buy in today’s market.

Nearly 40% of mortgage industry professionals surveyed believe that a lack of knowledge about the home-buying process is keeping potential buyers on the sidelines. Saving for a down payment is often cited as a huge barrier for first-time homebuyers to make the leap into homeownership.

If homeowners believe that they need a 20% down payment to enter the market, they also believe that they will have to wait years (in some markets) to come up with the necessary funds to buy their dream homes.

The greatest source of confusion cited in the survey results centered around down payments. The results are broken down in the chart below:


By Eddie Yandle 07 Jun, 2017

See our specialty events through out the Midlands, such as Hot dog grill outs, Donuts for Dads, Social media events, and games!! Like our houses, we have something for everybody! Stop by our locations!! Our event calendar is powered by eventbrite, so sign up today- Remember it is FREE and family friendly!! 


As you tour these lovely neighborhoods, homes and communities remember that a new home is still one of the most sound investments you can make. Interest rates are still among the lowest they’ve been in the last 25 years, so now is one of the best times to buy a new home. Perhaps one of the homes or communities you see will be the one that is perfect for your family.

The 2017 Tour of Homes Planbook will soon be available for free on-line and for free in print at the BIA of Central SC office at 625 Taylor St., at homes and communities on the TOUR and at  all Columbia-area Coldwell Banker Residential Brokerage locations  - check back here for details closer to the event. The planbook has descriptions of all the homes and directions. Don't forget to follow us on Facebook , too!

Columbia's Largest Open House of New Homes for Sale is the 2017 TOUR OF HOMES coming this June 10-11, 17-18 & 24-25. The annual scattered-site showing offers Featured Communities, New Homes, Apartment Communities and Senior Living Communities for your inspection. Homes are open each Saturday from 11am to 6pm and each Sunday from 1pm to 6pm.

The TOUR OF HOMES showcases the best new home communities and homes in every price range. Columbia’s finest builders and developers show you their innovative ideas, special design features, dynamic floor plans and fine craftsmanship. You'll also be able to see some of the areas newest apartment communities and senior living communities.

By Eddie Yandle 01 Jun, 2017


The Villas is about easy, MAINTENANCE-FREE LIVING! Take your weekends back and spend time doing what matters most. Built by one of Columbia's finest home builders, EXECUTIVE CONSTRUCTION HOMES. All brick luxury homes in a gated community surrounded by walking trails, tennis, golf, restaurants and shopping. Stop by the model today for a preview!

See all of our locations and RSVP for Food and Drinks and Tour Times Here!

Plan books featuring all of the homes and Featured Communities on the TOUR will be available for free at all Coldwell Banker Residential Brokerage locations during the Tour of Homes, at all of the Featured Communities, specially-marked Free Times racks throughout Columbia, and in digital format on our website. Once you get the book, plan your route and go see some new homes. Get more information at www. BIAof-CentralSC.com .

By Eddie Yandle 16 May, 2017
Executive Construction Homes is excited about participating in this year’s Tour of Homes hosted by the BIA of Central South Carolina! As Columbia’s largest open house event, we are excited to show new home buyers the sleek style and luxury our homes offer. The Tour features all new homes for sale, and Executive Construction Homes is showcasing four new homes in communities around Columbia, SC.

Columbia's Largest Open House of New Homes for Sale is the 2017 TOUR OF HOMES coming this June 10-11, 17-18 & 24-25. The annual scattered-site showing offers Featured Communities, New Homes, Apartment Communities and Senior Living Communities for your inspection.

The TOUR OF HOMES showcases the best new home communities and homes in every price range. Columbia’s finest builders and developers show you their innovative ideas, special design features, dynamic floor plans and fine craftsmanship. You'll also be able to see some of the areas newest apartment communities and senior living communities.

As you tour their lovely neighborhoods and homes, remember that a new home is still one of the most sound investments you can make. Interest rates are still among the lowest they’ve been in the last 25 years, so now is one of the best times to buy a new home. Perhaps one of the homes or communities you see will be the one that is perfect for your family.

The 2017 Tour of Homes Planbook will soon be available for free on-line and for free in print at the BIA of Central SC office at 625 Taylor St., at homes and communities on the TOUR and at   all Columbia-area Coldwell Banker Residential Brokerage locations   - check back here for details closer to the event. The planbook has descriptions of all the homes and directions. Don't forget to follow us on Facebook , too!


By Eddie Yandle 16 May, 2017

Do You Know the Cost of NOT Owning Your Home?


Owning a home has great financial benefits, yet many continue renting! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed.

Zillow   recently   reported   that:

“With Rents continuing to climb and interest rates staying low, many renters find themselves gazing over the homeownership fence and wondering if the grass really is greener. Leaving aside, for the moment, the difficulties of saving for a down payment, let’s focus on the monthly expenses of owning a home: it turns out that   renters currently paying the median rent in many markets could afford to buy a higher-quality property   than the typical (read: median-valued) home   without increasing their monthly expenses.”

What proof exists that owning is financially better than renting?

1. The   latest   Rent Vs. Buy Report   from   Trulia   pointed out the top 5 financial benefits of homeownership:

  • Mortgage payments can be fixed while rents go up.
  • Equity in your home can be a financial resource later.
  • You can build wealth without paying capital gain.
  • A mortgage can act as a forced savings account
  • Overall, homeowners can enjoy greater wealth growth than renters.

2. Studies   have shown that a homeowner’s net worth is 45x greater than that of a renter.

3. Just a few months ago, we explained   that a family buying an average priced home at the beginning of 2017 could build more than $42,000 in family wealth over the next five years.

4. Some argue that renting eliminates the cost of taxes and home repairs, but every potential renter must realize that all the expenses the landlord incurs are already baked into the   rent payment  along with a profit margin!!

Bottom Line

Owning a home has always been, and will always be, better from a financial standpoint than renting.


By Eddie Yandle 16 May, 2017

The choice between renting and buying a home is one of the biggest financial decisions you will make. With home prices are rising across the country, people are shying away from buying options. However, buying a home is still 37.7% cheaper than renting on a national level. The decision to rent vs. buy will be dependent on the area you are deciding to live in.

 

A Peak at the Current Market  

It has only become slightly cheaper to buy vs rent because of the rising home prices. Home prices have increased by 5.9 % since last year compared to an increase of 3.5% for rents. However, mortgage rates have dropped from 3.9% to 3.7% in the past year, which still gives home buying an advantage. By using a mortgage calculator , you can determine the best financial option for you, and if your mortgage rate would be above or below industry average to better.

 

Living in Columbia

It is more cost effective to rent vs. buy in the top 100 metros across the country, but some cities obviously see higher monetary benefits than the rest. Columbia rounded out the top 10 metros with the largest financial advantage of homeownership. As of 2016, the median home value in Columbia, SC is $124,733.00 and renting averages come to $1,125.00 per month. These prices indicate that it is 50.6% cheaper to buy a home versus renting in Columbia.

 

The top ten metros with the largest financial advantage of home ownership include:

1.    Miami, FL

2.    West Palm Beach, FL

3.    Houston, TX

4.    Fort Lauderdale, FL

5.    Charleston, SC

6.    Baton Rouge, LA

7.    New Orleans, LA

8.    Syracuse, NY

9.    Philadelphia, PA

10.Columbia, SC

 

Factors That Influence Price in Columbia

The city continues to see steady growth since the recession, which indicates a slow increase in home prices. When looking at Columbia home buying trends , there are various factors that affect the price in Columbia, some of which include home size and location. Given the demographic of Columbia, single-family homes and condominiums tend to sell the quickest in the city. Additionally, school districts will play a major role in neighborhood popularity, which can also affect home prices.

 

Don’t Wait to Buy  

Whether you are a first-time buyer or a seasoned vet in the industry, now is the time to buy Columbia real estate . Take advantage of the lower mortgage rates now before they increase, making it harder to purchase a home.  


By Eddie Yandle 16 May, 2017

Coming Soon! New Construction Lakefront in the Desirable Award Winning Lake Carolina neighborhood of Harborside.

  • High End Custom Home to be built by Master Builder, Executive Construction Homes.
  • Designed specifically for this lot, this spacious home incorporates style & design to showcase the builder's talents.
  • Lakefront home boasts beautiful architectural details including coffered ceilings, tray ceilings and cathedral ceilings and extensive moulding.
  • Windows across the back of the house and a covered rear porch take full advantage of the gorgeous view.
  • Designed for the possibility of a separate apartment & 2nd kitchen, if desired (Can be income producing).  Or simply perfect for extended living space.
  • Expansive space, large rooms and a fabulous floor plan with so many possibilities await you!  
  • There is even a space for a wine cellar.  
By Eddie Yandle 01 May, 2017
See more information on this Lexington, SC new home
No need to rent when you can own this amazing 3-story new home instead! Open layout & efficient use of space with signature trim & moldings. 3 bedrooms/2.5 bathrooms/1-car garage w/opener. Craftsman style details, granite, framed mirrors, gas range, tankless hot water, fenced yard w/sprinklers & so much more! Plus Z-wave Home Automation Front & side yard maintenance via HOA. In the heart of Lexington and convenient to everything you want & need plus excellent Lexington One Schools! READY NOW C ALL TODAY!   803-748-1234


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