Every business, whether real estate or not, goes through seasons. Quite frankly, we experienced quite a long spring break and summer vacation during the hype of soaring prices and easy to get loans in the Charleston SC real estate market and most other places. However with all of the 
changes, oversupply of inventory, tightening mortgage guidelines, lower consumer confidence just to name a few, we can say with certainty that WINTER is here. The real estate party is over, and the hangover has set in. During the party, there was quite a bit of 
overconsumption, overpurchasing and debt building. During this winter season in our market and some businesses, it's time to get back to the basics. Reevaluate your business and start developing a plan for where you'll plant the next seeds so they will grow and ripen come spring and summer. First, the basics means establishing or renewing your core values for personal and business life. It's time to determine what we need versus what we want, what is important and necessary like family, friends and helping others. That being said, it's time to dig ourselves out of the hole of debt, start saving money and get control over spending and consumption habits. Dave Ramsey gives great advise about this! Rebalance in all these areas are necessary and readjustment is needed in order for the market to balance. The economy is tied to consumerism but we have start living below our means so that emergency bailouts aren't necessary. In that case, we need to have the emergency fund in place.
There are many crisises we have all gone through. My parent's first house in Charleston was financed at 14% interest rate, then a few years later, they refinanced at 9%. Things could be worse than our current 6% rates. In Charleston, we've faced Hurricane Hugo in 1989 and the Naval Base closure in 1993. It seemed like the sky was falling, but we made it through. The economy of Charleston bounced back in no time and stronger and look at us now. We are one of the Top 10 BEST places to live in the US! As a nation, how could we forget 9/11? We have been through worse and we will get through it. It's time to turn back to your faith, your determination to succeed and your ingenuity. We are tough and will not be defeated....not as agents, businesses, not as Charlestonians, and not as Americans! Just remember that nothing last forever. We are going through a cycle. And Spring always follows the winter in all things!
Despite the declining market, the Charleston Relocation Experts Team is still experiencing sunshine despite the storm. The market is tough out there but we are staying ahead of the market, on top of market trends and stats and still getting properties sold. It's not easy, but together we will weather the storms of the market.
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Michele Reneau - Military Relocation Specialist in Charleston, SC.
Rated number #1 featured Summerville, SC Realtor on Activerain.com. As Featured on HGTV's House Hunters. Publisher/Author for Charleston Real Estate Update including featured monthly statistics on Charleston Real Estate Market. 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 mreneau@carolinaone.com. To view all Charleston Metro area Homes for Sale, visit www.CharlestonRelocationExperts.com and then click on Search for Homes. With over 25 years of Lowcountry Living, I know the Charleston Metro area.
Michele Reneau, ABR, GRI, CRS
www.CharlestonRelocationExperts.com
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MICHELE, I must be close to your parents age as our first house was 12.5% during the Carter years and that was considered a VERY good rate as it was bond money. Our neighbors down the street had 18%. All in all at least our interest rates have stayed fairly low. When people complain I remind them of those interest rates during the Carter years as it could be worse. I have been through a lot of seasons in my sales career of 26 years. One thing we can always know is that spring does return if we just hold on. You are right a lot of it is about our attitude!!
Michele, good post..
Thanks for sharing
Rich
Charlotte NC
Well, I opened my office in 2006 and I am still working at building my business. I didn't have the really good times because I am in a very small market with entirely too many agents and offices. But, the good news, is that I have to be very creative in my marketing -- I try to think outside the box and do things that other real estate offices can't or won't do. Eventually all this hard work will pay off -- my gut tells me it will. ~ Evelyn
Great post - you should use that as an advertisement - you would get a lot of calls.
Marchel-I bet you have a lot of wisdom from all the season of real estate you have seen!
Rich-Thanks for stopping by
Evelyn-Hang in there! Give exceptional service and keep asking for the referral. You will prevail! This is going to be survival of the fittest for a while, but it'll come around.
Regina-I'll take your suggestion and see what I can do to turn it into an ad. Thanks.
Michele, Good positive words of encouragement! Bring on SPRING!
Debi
Michele, it's good to see some agents focusing on improving and building there business in a tough market, rather than sitting back like a deer in the headlights wondering what happened. Everyone should be preparing themselves now, for when the market turns back up you can reap the rewards rather than scurrying around trying to pick up the leftovers. Taking this opportunity to build an internet presence, build and foster relationships, and establishing yourself as an expert in your field will pay big dividends down the road.
Ups and downs, cycles, ebb and flo - It's so crucial to tow the line and remain focused and disciplined. Michele is one of the best in the lowcountry. Sound advice no matter what the question.
Very nice blog! Just like the hangover blog, this one is clever and helps illustrate the situation beautifully. We are going through our real estate winter but soon will come the spring. We're going to make it through- we just need to power through these times and stay focused on the task at hand, SELL REAL ESTATE!
Go Michele!!
Kind Regards, Nicole Weidauer
The Egerer & Weidauer Team, Keller Williams Realty North Seattle