As we get ready to enter the fourth quarter of the year, a typical time for a real estate slow down, I wonder what this year will be like.  It seems to me that last year at this time is when our local real estate market started to change. 

I am encouraged that here in the Upstate of South Carolina have not suffered losses that some other areas have., including the coast and even Charlotte, NC.  Our current days on the market is about 126 days and our average price point has stayed around $120,000.  What is discouraging is the lack of sales that we are actually closing.  At a recent real estate board meeting is was revealed to us that our local sales are down by 24 1/2%. 

So what does that mean to the average real estate consumer you might be asking?  It means, NOW is a GREAT TIME TO BUY a house.  We still have amazingly low interest rates, which historically has not been the case in previous economic recessions.  Inventory of houses to choose from are at an all time high and in many cases priced aggressively to sell.  Qualifing for a loan can be much more difficult right now though and I reccommend you get an excellent mortgage broker to help you with the process.  (I am married to one if you need any help!)  If you have credit issues today, start working to repair them immediately!  A responsible lender is someone who will take the time to help you correct problems on your credit report and step you through the buying process with confidence.

If you are considering selling a house right now, there are a few things to keep in mind.                      #1  PRICE IS EVERYTHING                                                                                                             #2 CONDITION IS KING                                                                                                                 #3 BE NEGOTIABLE                                                                                                                      You might not get that "pie in the sky" asking price but if you are selling so that you can make another purchase- chances are you will more than make up for any loss on your new home.  Hire a real estate professional that will advise you everystep of the way on what is the best way to get your home sold.