Beaufort SC Real Estate Market on the Upswing? and What will happen 2009?

This morning, after taking a holiday break, I attended the first ERA Evergreen Company meeting of 2009.  When I arrived, the office was buzzing, and everyone sure seemed busier than I remember in the past few months.  With my eyebrows raised, I asked several of my colleagues if things were picking up for them.  Every agent I asked had that gleam in their eye and said, "Yes, things are picking up".  No doubt 2008 has been a less than stellar year financially and especially for real estate in general.  So I had to ask my self, "Is 2009 going to mark the turn around for us beat down real estate agents, home owners, and anyone else involved in the real estate business?"

After the meeting, I spent some time wondering if all the buzzing at the office was a sign of things to come in 2009, or just that annual enthusiasm that comes with the beginning of each New Year.  When you combine the state of the economy, housing market (surplus and overpricing), unemployment rate, stock market, strength of the US dollar, and more factors than I can list, 2009 certainly dose not shape up to be a banner year.

To all of you who think I am a pessimist, I feel more of a realist than anything.  By all accounts, 2009 looks like it will be a better year than 2008.  Using most economic factors and a little common sense tell me that 2009 will likely be a flat year which is actually good news.  That means we probably have hit the bottom.  So you home buyers and sellers who have an agent telling you how great 2009 will be, I say history is a good indicator as to what will happen.  The last real estate crash lasted five years (1990-1995).  Most expert say the current housing slump began in late 2006.  That puts is a little more than two years into our current predicament.  That being said, 2009 should hold steady and you can expect to see legitimate signs that the real estate market is in recovery by the spring on 2010.

Ouch, that was painful to write but let's end on a positive note.  Like many buyers, I also am in the market searching for a house or land to build on.  I constantly scour my website's Advance Search for homes and vacant lots.  Actually, I have been searching the Beaufort MLS for 2+ years.  Over the past 2 years, I have watched home and lot prices fall.  As a result, many first time home buyers have been priced back into the market.  Next, waterfront properties in the Beaufort area are a fantastic deal.  No place that I know of has acre lots, on deepwater, in the $300,000 range.  Add in the quality of life Beaufort offers and I don't think there are better waterfront deals any on the South Carolina coast.

Sorry to say bye, but there are a couple open houses to be seen tomorrow.  Thanks for reading and good luck in 2009!!!  Please check out my Lowcountry Properties site for any info you might need.