Housing market improves for sellers, buyers

By: Jorge Lopez Email
By: Jorge Lopez Email

News 12 First at Five / Wednesday, May 31, 2013

NORTH AUGUSTA, S.C. (WRDW) -- Lately, it seems like everywhere you go, more and more for sale signs are going up. Home prices across the nation jumped 10 percent in the past year, and homeowners are starting to see values where they were before the housing bubble.

"I definitely think across the nation the market is improving, a lot of areas took some pretty bad hits," said Realtor Donna Joyner.

And while the numbers are starting to improve, Joyner says our area is unique.

"We didn't feel it as hard as other areas of our country, if anything, we reaped some of the benefits," Joyner said.

She says the average price per square foot is down about $15 since 2006, which is a good thing if you're buying a home.

"Buyers are able to get a bigger home for less money," she said.

But sellers can also benefit from the improving market.

"You can't feel like you can't get your house sold. If you can sell your house and just break even, the savings is going to come when you buy your new house," Joyner told News12.

And that's exactly what Courtney Paschal is trying to do.

"We listed with Woodward and Associates three weeks ago," she said.

Paschal says even if she loses a little on the sale of her home, she knows her future home will make up for the difference.

"Rates are much better. When we actually purchased our home, rates were a little bit higher, and when we went for our pre-approval, we were approved for almost a half percent less than two years ago," Paschal said.

A 30-year mortgage has an interest rate of about 3.4 percent and a 15-year mortgage is about 2.6 percent, which translates into pretty big savings. The difference on a mortgage payment for a $150,000 home would be about $300 month.

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