market: Media Fabrications - 11/07/07 08:29 AM
On October 27, the South Carolina Association of REALTORS forwarded the following article to all members of the Association:
In an attempt to shock its readers into buying newspapers, editors at The State Newspaper (Columbia, SC) fabricated a sensational headline. Wednesday's readers saw "Home sales plunge" stretched across the front page above the fold. (If you'd like to read the article, click here. However, immediately below the banner, the article explains, "sellers appear to be holding out for the asking price they want . . . prices rose close to 6 percent . . . for the year, however, the slide pushed Columbia's … (0 comments)

market: The Truth about Foreclosures - 11/07/07 07:52 AM
With all the negative media coverage of the real estate market recently, I took an unscientific poll today and asked some smart folks their thoughts about real estate foreclosures. Specifically, I wanted to see how well the media's bashing of real estate has convinced folks that the sky is falling. I asked, "Based on the number of South Carolina real estate foreclosures and North Carolina real estate foreclosures that took place during the second quarter of 2006, what do you think happened during the same period in 2007?" Every person I asked thought that the number of foreclosures was up - … (2 comments)

market: Is the Buyer's Market almost over? - 09/27/07 07:27 AM
With the mortgage industry crisis topping the news recently, qualified real estate buyers have finally decided that now is the right time to crawl back out of the woodwork. Reports of competing buyer offers are on the rise again, which makes sense because these buyers are focused on the properties that are in good shape and priced to move. Determining if the market is finally turning around is fairly straightforward. Is the amount of unsold inventory (i.e., listings) trending up or down? What about the number of sales? Number of days the property is on the market? And yes, finally... price. … (1 comments)

market: On the Rebound? - 06/18/07 06:04 AM
Shh! Don't tell the media! The first quarter numbers are in, and I don't want to make a spectacle of myself here, but the numbers speak for themselves. If you want proof that the real estate market in Myrtle Beach is rebounding, look no further. Compared to 2004 (a year in which everyone agrees times were great), how are we really doing in 2007? Two important numbers to watch are: 1. How many home buyers are actually in town buying?Number of single family homes sold January-March 2004: 960Number of single family homes sold January-March 2007: 11232.How long do home sellers have … (1 comments)


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