It's the party of the year. Music, food, beer, wine, liquor, whatever you want. It's open bar and you and your friends are invited. You show up and everyone is having a fantastic time including yourself. People are dancing, the food is fabulous, and the spirits have everyone in good spirits. Welcome to the real estate market 2004-2006. The real estate market was fantastic. Everyone was having a good time, sellers, buyers and agents alike. Sellers got everything they wanted and more. Buyers that couldn't have gotten financing before now have achieved the American Dream with 4.75% interest rate. Agents were selling houses like crazy. Brokerages were popping up everywhere. Everyone joined in the party. In fact, too many people. It's getting late in the night. You look around and wish some of these people would go home. You know who I'm talking about. At some point, the party ends but you don't remember when. When you wake up and come downstairs, there are people lying on the couch, sleeping on the floor, bottles are everyone, food is still laying out on the table. The house is a wreck. If you haven't been to one of these parties, you've at least seen one on TV. It's 2007 and no one wants to wake up and face the inevitable..the hangover. Welcome to 2008, the year of the hangover. The party was great, almost too good and now it's time to face the consequences of party. We enjoyed extremely high appreciation, easy sales and quick turnovers. Hangovers are never fun for anyone, the person having it or the person cleaning it up. Sometimes you can sleep it off or take some aspirin or maybe even the hair of the dog, but for others there's just nothing you can do to cure it. It takes time to recover. The real estate hangover is no different, it's going to take time.
How are you medicating your real estate hangover? Stay tuned for the next post on "When the hangover is going to end?" This is one way to look at the market. One of our company leaders gave this great analogy today in our company sales meeting and I had to share it.
It's a painful process for those that have to sell, but there are solutions. For those that can purchase, the time has never been better. Visit www.CharlestonRelocationExperts.com for your Charleston SC real estate hangover bandaids.
Contact Michele Reneau, Realtor®, CRS, GRI, ABR, Carolina One Real Estate. Licensed Realtor® in South Carolina at 843-572-0518 to list your property for sale or to purchase a property in Charleston, Goose Creek, Summerville, North Charleston, Hanahan, Mount Pleasant and the surrounding areas in Charleston County, Berkeley County or Dorchester County, South Carolina. The Charleston Relocation Expert specializes in military relocation, first time homebuyers and creating marketing exposure to sell your home. I can also be contacted by email at email@example.com. To view all Charleston Metro area Homes for Sale Click Here and then click on Search for Homes. With over 25 years of Lowcountry Living, I know the Charleston Metro area. I will help you get your home sold and/or help you buy your Charleston home or land.
P.S. If you are listing your home and need a quick sale in Charleston or surrounding area, make sure you hire an agent with the knowledge of the market and stats and the experience to get the job done. I'll provide you with "Questions you should ask ANY agent before hiring" and share my my 100+ point marketing system. Call me at 843-572-0518 to find out more selling your home in the Charleston SC Real Estate market. You can also view my newsletter by clicking here with the latest market stats updated on the 5th of each month.