Cunningham Team
- These are a few photos of Lee, his family and his REMAX real estate team.
Lee's Other Greenville Real Estate Blog
Travelers Rest Development, St Francis Millenium Campus Update and other Greenville real estate News
There’s a new commercial development under consideration in Travelers Rest at Highway 25 and Little Texas Road. But don’t expect to see any brick and mortar construction going on until at least 50% of the space has been leased. The proposed 15,300 square foot retail space is next to the Walgreens already at the corner. While Travelers Rest, commonly known at TR in these parts, has been a sleepy little town in the past, it is gaining popularity because of its natural beauty and proximity to Furman University and the Cherrydale area of Greenville. Look to see additional growth in this area even with the current economic slowdown.
The new St. Francis hospital at the Millennium campus is ramping up to come on line by late 2011 with a futuristic approach. According to CEO Valinda Rutledge and the Greenville News, the center will include a holistic approach to healing and have gardens and an interior rain wall to help cleanse the spirit. There will be four floors and 230,500 square feet with the option to add more floors at a later date. St. Francis also expects to employ about 500 people at the site. The Millennium campus is in a rapidly expanding area of Greenville SC real estate near the CU-ICAR campus and the upscale Verdae development just across Interstate 85. There is a couple of new retirement communities Greenville in Verdae that will be well positioned for access to the new hospital.
With a need for affordable senior housing in the Greenville area, Georgia developer Ambling Companies, Inc. has plans to build several apartment complexes locally and take advantage of tax credits offered by the SC State Housing Finance and Development Authority. The first project is located at Traction and Easley Bridge Road near the St. Francis Hospital. If the tax credit deal is worked out, construction could begin in March of 2010.
St. Jude, has increased their manufacturing capacity in Liberty with a new plant that will employ about 300 over the next five years. They manufacture a microelectronic device that controls pacemakers, as well as heart valves, pacemakers, implantable cardio-verter defibrillators and heart-failure devices. Currently they are producing 50 of the control units per week, but expect to make about 2500 a week by year’s end.
For those of you missing the family entertainment getaway of Frankie’s Fun Park over the past months, it’s now open again after a $3 million renovation. Adults and kids alike will appreciate the 188-seat Johnny Rocket’s Restaurant, which is the centerpiece of the improvement. Other renovations include a new laser tag arena, six new mini-bowling lanes and large indoor jungle gym.
Low cost air carrier AirTran will supply flights from Asheville Regional Airport to Orlando, Florida starting June 11. That will give some competition to Allegiant Air which also flys to Orlando and other Florida cities from GSP.
Lear Corporation will be moving it’s Duncan operation into a new plant at the Greer International Business Park in May. Lear, an automotive supplier building seats for BMW, is the first company to locate at the privately owned park. The move to a larger facility will support BMW’s expansion that is still underway in Greer. The move will add jobs, but the official hiring process will not start until 2010.
Lee is putting on a Greenville SC First Time Home Buyer seminar in conjunction with other local business owners and would like you to come. See our website for more information...Greenville SC Real Estate. Check out this great neighborhood on the eastside of Greenville sc http://www.devengerplace.org
Waterparks, South Financial and CPW Changes
School is out, summer temperatures are fast approaching, and kids are all thinking about pools and water parks. Of note is the grand opening of the Shipwreck Cove Waterpark in Duncan, which will open it doors this Friday on June 12th, and is located on the eastern side of Greer. www.shipwreckcovesc.com You’ll find a lot of pirate themed features that will be a hit with the family. Down towards Simpsonville, the Discovery Island Water Park has added the Flow Rider, a wave-like feature that allows riders to surf or boogie board down its surface. It’s sure to be a hit with both the riders and onlookers as participants try to master their skills. The Flow Rider is pretty safe too, since the riders are actually travelling slowly down sheets of water over a padded composite membrane. For more, visit Discovery Island website.
South Financial Assigns Real Estate
The South Financial Group has decided to keep their headquarters in downtown Greenville and sell the three-building complex on I-85 near the Clemson University’s International Center for Automotive Research. The project was started in 2006 to much acclaim and TSFG put about $80 million into the project, but has had to back away due to the current economic climate. The market price for the campus, including undeveloped land, is approximately $72 million., and will eventually provide “green” buildings” in a rapidly growing technology park.
Anticipating continued growth in the northern Greer area when the economy turns, the Greer Commission of Public Works (CPW) plans to build an electrical substation near the intersection of Highway 101 and North McElhaney Rd. The 7.6 acre parcel still needs to be purchased, but CPW hopes to have the station on line in 2010. For the water utility, the CPW plans a one million gallon storage tank off South Buncombe Road, a new 24” water line around the city of Greer, and a new pump station on South State 101 to service the BMW plant and the Abner Creek Road area. These latter projects are still awaiting approval of state and federal funds.
Table Rock State Park-"Best of the Road"
In Rand McNally’s 2010 Road Atlas, Table Rock State Park has made the “Best of the Road” list. Located in north Pickens County near the escarpment into the mountains of North Carolina, the park features camping sites, renovated cabins, a lake with swimming, and great hiking to fabulous view of the surrounding areas. The popular site is certainly worth a stop, but if you plan to stay overnight, reservations are a must; accommodation are in high demand during the summer months. For more info check out the Park site.
Current Weather
The weather should warm up this week after last weekend’s glorious weather. Expect highs in the low 90s this week with a chance of thunderstorms. It should cool a bit by Friday and the chance of showers will increase.
Geodesic Dome Home - A tough Sell
I just sold this geodesic dome home in southern Spartanburg County, a rarity for this area and probably most of the U.S. It’s exterior is certainly unusual, but the inside caught me by surprise. The walls all curve in and meet about 20 feet from the floor in the center; I thought that it would seem somewhat confining, but it was actually very spacious. And with only about 3 triangular sky lights in the main room, it was surprising well lit. Everything is a dome at this place, including a dome 2-car garage and a dome outbuilding for the tractor. Oh yeah, there are 8 acres with this property, so there’s a lot of grass to cut. We had our share problems getting this to closing table, mostly due to the current financial environment and the more conservative approach many lenders have. We went through several banks and no one wanted to finance it because it’s an “oddball” property. One appraiser refused to take the job because finding comps would be impossible. Several insurance companies refused to write a policy on it. Why: We were told, well… what happens when you need to sell and cannot do so…you burn it down! Even the insurance company who had the policy on the previous owner did not want to insure it. In the end, we found a bank that would finance it in-house without an appraisal, all the other obstacles were overcome, and my buyers got a great deal. I guess the moral is if I can sell this one, I can sell anything. To find more great homes call us and visit our website at Greenville Real Estate from your friendly Agent at REMAX Greenville SC
Greenville Real Estate Blog - May 27th
For first time home buyers, there’s a new wrinkle to the $8000 tax credit. HUD Secretary Shaun Donovan unveiled the change for down payment assistance, making the $8000 available as a ‘bridge loan” until the funds come from the federal government. That means that for first time home buyers that qualify, the $8000 can be used to fund the down payment for a mortgage, which is typically the biggest hurdle for young buyers. Buyers will be required to use an FHA loan for the primary mortgage; then they can use an FHA-approved lender or HUD-approved nonprofit to secure the bridge loan. This secondary “bridge loan“ will probably have a low interest rate and is repaid when the home buyer receives the tax credit. The details on this program are still being worked out, and only a handful of states have organized a system to provide the loans.
the extension of the residential renewable energy tax credits that provide 30% of the initial cost as a tax credit. Of special note since 2008 there is NO $1500 cap on the credit. This incentive applies to geothermal heat pumps, solar energy systems, and residential fuel cell and microturbine systems. Of these systems, the geothermal heat pump is one of the most efficient and has a good return on investment. A geothermal system utilizes the energy stored in the earth a few feet below the surface and provides four units of energy for every one unit of electricity used. That equates to an efficiency rating of 400%, compared to the most efficient gas furnaces that rate at only 94%. These systems are suitable for new homes or replacement installations and provide clean, quiet, and safe operation, without emitting carbon dioxide, carbon monoxide, or other greenhouse gases. For more information on these systems in the Upstate of South Carolina, see Carolina Heating Service, Inc., a vendor with a lot of experience installing geothermal systems.
From a cost of living perspective, Greenville is a good value when compared to 309 urban areas around the U.S. According to the AACRA Cost of Living Index released by the Council of Community and Economic Research (C2ER), Greenville’s after-tax cost for professionals is 89.2% of the national standard. The study measures the costs of consumer goods and services for managerial households in the upper 20% income bracket, gauging grocery items, doctor visits, mortgage rates, utility rates, and gasoline. For comparison, New York City was the highest with an index of 219.3, Tampa, FL was 95.2, and Pryor Creek, OK was the lowest at 83.1.
Current Weather
It looks like we’ll have a good chance of thundershowers this week with highs in around 80, but clearing for the weekend. It will soon be warming up and with school out next week, you can be sure the local pools will be popular.
Greenville Real Estate Foreclosure Blog - May 12th
Current state of Foreclosures in Greenville, SC
After mortgage-backer Fannie Mae ended a general moratorium on foreclosures nationally, 
they have requested that the South Carolina Supreme Court issue a temporary freeze on some properties in the foreclosure process. SC is the only state with laws that give local judges the ability to dismiss delayed cases that are stuck in the courts between the foreclosure judgment and the actual foreclosure sale. (which means simply that the courts can say "no you can't foreclose" to the banks if the process is taking too long) If the case is dismissed, Fannie Mae will have to start the process over again which adds costs and increases losses. An additional problem is that not only is there a current backlog of foreclosures, but President Obama’s Home Affordable Modification Program enabling certain homeowners to restructure their mortgages is still being rolled out after its inception in February. The courts agreed to the freeze so that homeowners qualifying for the relief program will have the opportunity to take advantage of the restructured interest rates and terms of the note. Fannie Mae has until May 15 to declare which of their loans is eligible for the modification program. Until then, expect the number of foreclosures state wide to remain lower than anticipated.
We can see an indication of this delaying trend by observing the public foreclosure sale notices by the Greenville News. According to the local paper, sales scheduled for May 4 totaled 191, but approximately 50-60% of these were withdrawn from the sale and delayed. For April and March, there were 179 and 142 sales scheduled respectively, with about 40-50% withdrawn. Of the foreclosed homes that were listed in the Greenville MLS, approximately 67 units were sold last month with a median price of $86,500. This volume is up about 32% from the previous three month average of 50 units. (click on the house photo above to see our favorite select foreclosures this month)
(Lee on the windy slopes of Great Dunes N.P. Colorado. All this sand was put here by wind)
New Federal Proposal Could Boost Greenville Businesses
A federal proposal mandating zero-carbon energy generating methods, such as wind or solar, could provide a big boost for local manufacturer GE (General Electric) who produce wind turbines machine heads and Flour Corp. the engineering and construction company that is a major player in renewable energy sources. While there are tax credits and loan guarantees for wind farms in the stimulus package, the new proposal that requires utility companies to produce a certain amount of power without fossil fuels would have a quicker impact. In the long term, you can expect to see more wind farms off the U.S. coasts. Wind Energy is fore-casted by the U.S. Department of Energy to provide 20% of all energy produced nationwide. Wind farms have been proven by European countries to provide a renewable energy source, with a 48- turbine wind farm generating enough electricity to power 120.000 homes. GE is Greenville County’s largest employer with 3,000 employees, about half of them engineers. Flour employs more that 2,500 professionals in Greenville.
Artisphere 
Current Weather Rain is likely early this week but dropping off to just a chance of showers on Wednesday with highs in the 70s. Last weekend was clear and warm but a fantastic time for being outside. The extra rain we’ve had this year has really helped out the low lake levels from last year’s drought. Lake Hartwell is only five feet short of a full pond and boating is getting back to normal.
See more on this real estate listing and visit our websites at Greenville Real Estate and our second site at Greenville SC Homes
Greenville SC Gearing Up for Spring and New Growth
Outdoor Amphitheater on Haywood Road
An outdoor amphitheater is being considered, similar to the one in downtown Greenville, as one of the ways to spruce up the Haywood Road corridor
near Greenville’s largest mall. That’s one of the ways consultant firm Clark Patterson Lee has suggested in an effort to revitalize and re-brand the area as “Uptown Greenville”. A large amphitheater seating thousands could provide draw for outdoor concerts as well as host high school graduation ceremonies and weddings. A tentative site is 25 acres near the Fluor campus where a Charlotte developer had planned a mix of shopping, offices, houses and a hotel before the economic slowdown put the brakes on the project. The developer Merrifield Partners is said to be “encouraged” by the idea. More details are in the works and will be presented in May to the City’s Planning Commission before heading to the City Council.
New Home Construction Dropped Significantly
New home construction in the Greenville area 
has dropped off significantly over the last year, primarily due to the inability of builders to obtain financing for speculative houses. The demand from buyers is there, especially for first time buyers, but the supply of houses is not. According to Michael Dey of the Home Builders Association of Greenville, the annual rate for the first quarter of 2009 was 1,576 new homes built, compared to 1,633 in the 4th quarter of 2008, and 3,591 in the 4th quarter of 2007. Although existing inventory has declined, Dey expects the rate to hover around the 1,500 mark for the rest of 2009 and well into 2010. The significance of this to people listing their homes is that they are not competing with as many new homes as in the past, which is a good thing.
Transit Line between Mauldin and Simpsonville Being Considered
With additional federal funding available in President Obama’s stimulus package, the cities of Mauldin and Simpsonville are reconsidering a transit line between the two cities that was previous rejected on concerns over operational funds. There are still many questions to be answered, but perhaps $1.2 million upfront for the purchase of the buses and $855,000 annually for operational costs could validate the project. The proposed route would run from Fairview Road, along Main Street in downtown Simpsonville, to Main Street in Mauldin, and down the state highway 276 corridor into Greenville. There have also been discussions about stops at the Millennium Campus, CU-ICAR, The Shops at Greenridge, Greenville Tech, and Haywood Mall.
Children's Museum Firm opening for July 2009
Despite
a slowdown in fundraising in a sluggish economy, the Children’s Museum
is schedule
d to open in late July at the Heritage Green in downtown
Greenville. The endeavor has been ongoing since 2000, and is finally
coming to fruition with the $20 million renovation of the former
Greenville Library. The exhibit follows a trend in children’s museums
by re-interpreting how families and kids play, and offers a hands-on,
child centered exploration for the entire family. The central theme
involved in the museum is getting the kids to ask questions, which
enables them to direct their own learning and allows for creative self
expression. There will be 18 major exhibits targeted for kids under
age 11, and include a Formula One simulator, a Bi-Lo supermarket, a
hospital and a kitchen.
Artisphere is Back With a New Time in MAY
The popular Artisphere comes back to Greenville this year May 8-10, a month later than previous festivals when poor weather hampered the event. New features this year include a short-film festival by Southeast filmmakers and the exclusive Chairman’s Rooms above Larkin’s on the River, which will present works from two established galleries. Of course you’ll see the perennial favorites Art in Motion by Brian Olson and the slew of booths along Artist Row. There will also be plenty of roving visual and performing artists to pique your interest. Click here for more on this fun event for the entire family.
Main Street Jazz is starting every Thursday night at5:30-9:30PM for 28 weeks.
Current Weather Yep, we are in full-on spring now and the plants are loving it; there’s plenty of green as the trees have really leafed out and the foliage has gone wild. Expect mostly clear skies this week with warm weather. Highs should be in the low 80s and lows in the upper 50s. There’s a chance of thunderstorms later in the week.
Featured Home:
311 Longstreet Drive, GREENVILLE SC 29650
$198,000
MLS #: 1179824
This beautiful home has plenty of updates and features a full finished basement with lots of room to spreadout. There’s more square footage than you’d think and the 0.38 acre level lot in the back is a real private gem with mature hardwoods and fruit trees. Plentyof parking pad space, with room for 5 cars behind the house.
Greenville First Time Home Buyers Tax Credit Strategies and News
The First Time Home Buyer's Tax Credit
The 2009 American Recovery and Reinvestment Act, offers qualified home buyers an $8000 tax credit if the home is purchased by November 30, 2009. This applies to first time home buyers and people that have not owned a home in the last three years. If you intend to purchase soon, there are several tax strategies to consider, depending on your individual situation and whether it’s advantageous to file on your 2008 or 2009 taxes. If you have not filed your return, you can request a six-month extension to October 15, file electronically and receive the funds fairly quickly. You can also file now and amend your 2008 return later to claim the homebuyer’s credit this year. For others with variable income between 2008 and 2009, it may make better financial sense to defer the claim onto 2009’s taxes. The tax credit phases out for individuals with a modified adjusted gross income greater than $75,000 and $150,000 for joint filers. For more information see our webpage on Greenville FIRST TIME HOME BUYERS
The Shriner's Hospital Faces Closure
The Shriners Hospital in Greenville has always been a great asset to injured children and is in danger of closing down as part of a general restructuring of the Shriners Hospital for Children. The system is preparing to close six of 22 hospitals due to a decrease in donations and decline in the endowment due to the economic downturn. That has many people scratching their heads, since Greenville was the only one to hire an additional surgeon in the last 12 months. The hospital sees about 1600 patients and does about 70 surgeries per week, with an efficiency that puts it into the middle of the pack of the 22 hospitals. The current hospital was opened in 1989 and is located on the Greenville Hospital campus but is not affiliated with it.
April is Architecture Month in Greenville
A series of month-long events that celebrates the Upstate’s architecture and considers the nexus of art and architecture here. You’ll learn about art and artists of South Carolina, the creative process, field sketching, and what our art says about us. There’s a Frank Lloyd Wright video and chat on April 30, an architectural rubbings of Greenville Tour on the 14th , and ongoing photography and art exhibits at various galleries. The event is honored by the American Institute of Architects with the 2009 Grassroots Excellence Award. For the schedule, go to www.architecturemonth.org.
Renovations Complete
The first renovations to the Carolina First Center since it was built in the mid-1960s are complete and have added exhibit and conference room space. There is a new ballroom to seat 2,000 with a new entrance plaza, hall and concourse that will spruce up it’s curb appeal. You can expect to see the parking lots paved, new lot lighting, and a public art program in the near future.
Take in a History Museum Presentation
The Upcountry History Museum continues their outstanding presentations with The Dark Corner, a documentary which interprets the life of northern Greenville County residents from the early settlement days up to the Great Depression. It plays every Saturday and Sunday at the downtown museum starting at 2:00. On May 1st, the president of Wofford College Bernie Dunlap will present a lively discussion on the arrival of the Scotts Irish to Port Royal and their migration to the Upstate. That presentation will be a good primer for the Scottish Highland Games which will return to the Furman University campus in early June.
Current Weather Thunderstorms are likely early this week but it should clear up for the rest of the week. Highs will be in the 60s and lows in the 40s.
Featured Home:
9 WRENN STREET, GREENVILLE SC 29609
$214,000
MLS #: 1171807
Nicely maintained 3 bedroom, 2.5 bath all brick home close to downtown Greenville SC with hardwood thoughtout and renovated bathrooms and an open floor plan.
This is a fish growing pond in Table Rock State park. Lee found it while hiking one day back in the woods. Cool Shape to it...It's been let go at this point and is going wild.
