General

 Real Estate Sales for April 2010 in Charleston SC were up over April 2009 with 832 transactions vs 580.  This seems like a huge increase; however, keep in mind the $8,000 first time home buyer tax credit.  Until the effect of this settles out, we won't be able to tell to what degree things are turning around.  Inventory levels are still EXTREMELY high, at over 11,000 units and 13 months.  This is being exacerbated by new home sales.  If time is on your side, it's tough to pass up the experience created by an expertly staged sales model, particularly for first time home buyers. 

So what's the good news?  If you're a buyer and working with a capable, hardworking agent, there are deals to...

Still not much good news for sellers and owners in the Charleston area.  It's better if you're in Summerville, Goose Creek, or North Charleston, but there is still WAY too much inventory.  That being the case, you must be very clear in your marketing strategy that what you owe is COMPLETELY irrelevant to the picture.  Know your competition, and price to win the game BEFORE you end with time being against you.  It makes no sense whatsoever to start out with a higher price, just because you still have a few months.  You'll get the best price by pricing it right to begin with.  If an agent tells you different, they're telling you what you want to hear to get your listing. 

It's interesting ...

There were lots of people weighing in today's Business section in the Post and Courier...all to say that things aren't going to get any better for sellers any time soon.   Values continue to decline, even though inventory has dropped below 10,000 for the first time since the whole sad story began in 2006.  Every has their own opinions why, but I don't think anyone really knows for sure.  One tricky aspect of getting the truth, is that whenever there is an article in the paper, most of the sources cited are real estate agents.  Have you ever seen a real estate ad that said, "Now's a lousy time to buy."  I can't think of a single aspect of the equation that substantiates this claim. Nothing...

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