Victoria Cottle

Victoria Cottle

Is it too Soon?

A local Greenville SC bar, On The Roxx, had an employee test positive for COVID-19. The employee has not been in the building since June 5th and the symptoms are not present until a few days ago. The business will be closed until further notice and they hired a company to deep clean and sanitize the building.

Despite the pandemic, Greenville County leaders are moving forward with multiple projects. These projects include Garlington North near TopGolf and expansion at Monaghan Mill. City Scape Winery owners are planning a major expansion of their winemaking and wine-tasting operation in southern Greenville County. The Atlanta-based firm TriBridge Residential who owns Monaghan Mill is expanding with an additional six more apartments and more than 60,000 sf of mixed-use and commercial space. The expansion will also include a trail from the mill connecting to the Swamp Rabbit Trail just to the east. Under local scrutiny is the Pelham Road apartments. Neighbors who live in the area voiced concerns about traffic, the 60-foot tall buildings, and the balconies that will overlook the existing homes below. This has been kicked back to the committee for further review.

Real Estate News

Online real estate investing has changed the game for young home buyers and investors. Here are how millennials are investing in real estate. You might want in on this action.

  • Crowdfunding Real Estate. Crowdfunding platforms and startups have become popular in recent years. Roofstock lists single-family rental homes as an investment opportunity. Roofstock lists homes all over the country and displays your potential return rate.
  • Steps to Invest in Roofstock. Look at how much you want to spend, what down payment you have and if you will finance your investment. After that there are only four more steps to being a real estate investor.

However, if you are wanting to invest in local rental properties, contact me for advice on neighborhoods and potential ROI you can gain by buying in a popular area.

Falling mortgage rates are setting off a demand for home loans. Lenders remark that applications for mortgages are piling in. Average 30-year fixed mortgage rates dropped below 3% for the first time ever. If you were holding back during the pandemic be prepared for bidding wars. Low inventory on homes for sale is forcing buyers into competitions in many places. Refinancing is also surging 10 percent last week and were up 106 percent from a year ago.

Now that a lot of employers have found benefits to letting employees work from home, will the open floor plan become a design trend of the past? Looks like some homeowners have noted that an open floor plan has a lack of privacy, terrible acoustics, and unavoidable background noises. The “Great Room” which combines a kitchen, family room and dining room is appearing to be not so great recently. After a recent CNBC poll, 24 percent said they are happy working from a home office and 60 percent felt more productive working remotely.

Experts are predicting that home design will move back to more traditional homes with segmented rooms for multiple uses that include offices, exercise rooms, and a separate en suite for senior living. Assisted living facilities have taken a hit.

Some cons to an open floor plan are sound is bouncing off all the new modern sleek surfaces without divider walls to muffle them. Also, when you start cooking, the smells permeate the entire house. And they are expensive to maintain. The HVAC system runs more often on these homes because a lot of them feature large expanses of glass. Some would say they are not environmentally sensitive.

Some pros believe the great room will survive. It relates mostly to the kitchen, dining and family room as stated above and a lot of buyers are still looking for that open feel. Other agents believe that people want their homes to be their homes and not their offices. Homes are about livability and will never be about office efficiency.

Maybe homeowners just need to be more creative in finding private space to work. When viewing an open floor plan home ask the question, “where is my private space.” And then again maybe the great room just needs to be set up differently to accommodate family, school, and work but at different times. An interior designer may have ideas to help you reformat your space for all these situations. In today’s digital world, a desk does not need to be very big when it just needs to hold a laptop or a monitor. And if you are living in a milder climate year-round, you may find yourself adapting outdoor spaces for work.

What seems to be not working these days is the open loft plan where the only walls are for the bathroom. When the pandemic hit and people started shelter at home, it becomes too noisy for someone to work while someone else is cleaning, doing dishes, or watching TV. And what happens when your college-age children came home to live and study.

What seems to be a hotter trend today is buyers want out of the big city. Families with financial means will opt to reside outside of urban areas. Agents are predicting people fleeing the congestion of the cities like New York and Chicago and settling where they have wide-open spaces (but not too wide) and outdoor activities. Just like their parents!

Victoria Cottle is a Realtor® in the Greenville South Carolina area and if you, a friend, or a family member need assistance with selling or buying a home I can help. Referrals and people needing relocation assistance are welcome! Search Single Family homes in Greenville. Search Condos and Townhomes in Greenville.

Please contact Victoria Cottle by email or call (864) 275-3953 for your real estate needs in the Upstate of South Carolina!

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The Victoria Cottle Group
Keller Williams Greenville Upstate
(864) 275-3953