Well the real estate news that we are all hearing in my opinion is definitely a mixed bag.
• Inventories are down!
• Prices are down!
• Boeing is coming!
• Foreclosures are rising!
• Short Sales are still confusing!
• Interest Rates are still low!
• Money is hard to get ~ Banks just are not lending!
What does it all mean? Well I never have and never will portray the roll of some hot shot financial guru with all of the answers for our economy. I hired a professional investment manager for that. To be honest I don’t pay much attention to most of it. Sound crazy to you? Why? I prefer to work for and with my clients on a daily basis instead of chasing the latest news stories and government trends. Besides they all know the news. We hear the trends every single day. They want to buy or sell a property. They want facts and honest advice. That is what I provide my clients and they believe in me.
Here is the bottom line. Since Nov. 1st on Folly Beach there have been 13 more properties go under contract and another 8 properties sell. These are volume numbers that we have not seen around here in a long time. That is the good news. Prices are definitely falling. That is the bad news for now for the sellers but it is good news for potential buyers and they are coming out of the wood work and grabbing some fantastic opportunities.
Sellers don’t want to hear that prices are coming down but they still want to sell. It is all about price right now & it is completely driving our market. Buckle up because I think the ride is about to get a bit crazier. Opportunities are a knocking. And Sellers keep the faith because eventually as the sales continue the prices will follow too.
Keep your news articles and reports….”Bah Humbug” to them is what I say to keep in the holiday spirits. Buyers and Sellers want an educated agent that knows their respective market. Are you heading to Folly Beach anytime soon? Well we certainly know our Folly Beach market.