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Could it be a Seller's Market in December 2009?
The crystal balls seem to be disappearing as we speak, but there are good reasons to believe that 1 year from now it could be a seller's market here in the upstate of South Carolina.  A number of things need to happen, and some are already underway.
Hitting Bottom seems to have already occurred.  Both unit sales and home values have increased over the same period of last year in the last 2 months.  Yes, it takes time to stop a train and time to get it up to speed again.
New Construction has come to a halt.  It's a combination of declining sales and the availability of financing for builders both large and small.  Larger builders with existing inventories have lowered new home prices by 10%-15% in order to keep the cash flowing, which is their life blood.  Without the cash infusion from lenders, builders are unable to start new homes, thus a reduction in new construction inventories.
Existing Home Sales are stable and homes that are positioned properly, and properly marketed, will sell in well below average days-on-market. Even though the average home price in our area has increased, some price ranges have taken a hit.   In subdivisions where ... more

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