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You've Been Warned - Blue Ridge Market Report

By Kim Southern- "Sold" with Southern Hospitality

Real Estate Agent with Century 21 In the Mountains

February 13, 2009 02:23 AM

I've done my best...I've reasoned, cajoled, analyzed, postulated, Scold hypothesized, and rationcinated (look it up!). I've begged, pleaded, beseeched, implored, and supplicated.

I have been telling you for months now that we are in an unprecedented time of opportunity for home buyers. As investor Warren Buffett so aptly put it: "Get greedy when others are fearful, and fearful when others are greedy."

The sales figures are in for January 2009. The median residential sale price was $208,500. Compare that with the January 2008 median of $245,000, and you have a 15 percent decline in price.

With the ecomic stimulus package poised to be signed into law and the new bailout plan proposed by the Treasury Department to help bolster the sagging banking industry, we can expect new life to be breathed into the moribund housing market. Once investor confidence is restored -- even a little bit -- we can expect prices to pick up, or, at the very least, to stop dropping.

So, now may be your last best chance to cash in on the market of a lifetime.

Don't say I didn't warn you.

Re-Blog

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JL Boney, III

Coldwell Banker - Columbia, SC

Columbia, SC Real Estate

Love the graphic, reminds me of a principal I once had in school.

Feb 13, 2009 05:46 AM

Craig Rutman

Helping people in transition - Cary, NC

Raleigh, Cary, Apex area Realtor

After I got out my thesaurus, I realized you had written a wonderful blog! Your message, brilliantly backed up with facts, is right on the money. Job well done Kim!

Feb 13, 2009 06:11 AM

Kim Southern- "Sold" with Southern Hospitality

Century 21 In the Mountains - Ellijay, GA

Greetings from the North Georgia Mountains!

JL: We must have gone to the same school!!!

Craig: Thanks, gratitude and appreciation for the kind words!

Thanks to both for stopping by!!

Feb 13, 2009 07:59 AM

Debbie: Good girl!! Now is the time...Keep me posted on your progress!

Thanks for stopping by!

Feb 14, 2009 12:19 AM

Catherine Sinocruz

Coldwell Banker Select Real Estate - Reno, NV

Broker-Salesperson, ABR, GRI, CRS

Hi Kim,

It would be interesting to see how prospective buyers will react to this.

Catherine

Feb 14, 2009 04:15 AM

Catherine: Well, if the last 8 market reports I've written haven't done the trick...I guess I can hope this one will!

Feb 14, 2009 05:23 AM

Paul S. Henderson, REALTOR®, CRS

Fathom Realty Washington LLC - Tacoma, WA

South Puget Sound Washington Agent/Broker!

You win Kim. You have the most colorful and unique market report on ActiveRain...

Feb 14, 2009 06:23 AM

Paul: Oh...if only...But thanks for thumbs up! I do try to have fun when I write up my market reports. A spoonful of sugar and all that.

Feb 14, 2009 07:18 AM

Donna Yates

BHGRE - Metro Brokers - Blue Ridge, GA

Blue Ridge Mountains

Kim: There's no doubt that this will turn around and it might turn around sooner than later. I know there are going to be some buyers who will be kicking themselves. I know of buyers who are kicking themselves right now for low balling and losing out on a property that was already a steal before they low balled. Those who are serious about buying in our area have a chance in a lifetime to get the pick of the best righ tnow. Once the market makes the turn, and it will, the best properties are going to go fast. You are an excellent writer.

Feb 14, 2009 11:31 AM

Donna: So true...I'm trying -- as I'm sure you are, too -- to educate my buyers on making a 'smart' offer. Sometimes properties ARE ridiculously overpriced, and in that case, a low-ball offer is appropriate. Nowadays, however, our sellers are much more realistic when setting their price (we educate them too!), so that a low-ball offer will serve no purpose other than to insult the seller...not a good way to start off a relationship.

Feb 14, 2009 03:17 PM

Connie Betz

Berkshire Hathaway HomeServices Ambassador Real Estate - Omaha, NE

Top Omaha Realtor - Omaha Homes for Sale

Very well put. And where did you get that great picture? Love it!

Feb 15, 2009 05:46 AM

Connie: Thanks! I had fun with this one! As JL said above, she reminded me of a principal I might have had.

Feb 15, 2009 08:02 AM

You've Been Warned - Blue Ridge Market Report

Comments(12)

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