Charleston Real Estate Market

  I was reading the paper and saw that radio talk show host, David Ramsey, the financial guru and stern taskmaster was in town.   His aim is to help people put their financial house in order. I hope the Post Courier won’t mind my quoting  one of his answers to a question about the real estate market. How concerned should we be?…..

“…The numbers I have on Charleston-Charleston is doing pretty well.  The real estate market ’s not anywhere near the gloom and doom stuff. It’s not as good as it was two years ago. It’s certainly slowed down. And it’s harder to sell a house than it was and they aren’t bringing as much as they used to bring. But it sure hasn’t crashed versus Florida or Michigan. I mean thank God you aren’t in that mess.”

We are correcting. People were saying that the prices were going up too fast, and guess what? they were right. No area of the country could sustain that fast a price rise for very long. It had to slow down and allow some time to correct.  The market will turn around. You can already see it starting here in Charleston. Showings are increasing, there are buyers here shopping for homes. And they are buying.

No the prices aren’t going to double in a year, but we will have growth. People are buying here, including second or retirement homes. The market is great for investment, I don’t see real estate in Charleston ever being a bad investment.  But the days of a quick flip for a fat check are gone. And that’s just as well. Steady growth is so much better for the area, less volatile too.

   

Filed under: Around Town, Business News, Real Estate News on August 24th, 2008