Talking about several recent home price reports and comparing them to what is actually happening in Upstate South Carolina…
Do You Think Home Prices Are Going to Increase?
Homegain recently released a survey of both REALTORS® about what they think home prices are going to do in the future.
- 52% of REALTORS® in the Southeast think home prices will rise in the next 6 months
- 83% of REALTORS® in the Southeast think home prices will rise in the next 2 years
I think home prices will increase in Upstate South Carolina in the next 6 months and in the next 2 years. Probably not as much as many sellers or would be sellers might want. Maybe 1-3% at the most. At least I am not saying home prices will be decreasing! Remember that home prices can go up OR down.
Also related is Morgan Stanley saying aggregate home prices will increase for the year in 2012 7-9%
Listen the only way to call the bottom in prices is long after it has happened. But it sure does look like we may be starting to see recovery and that means prices may start to climb. Something for buyers to consider…
Speaking of Home Prices Going Up
Trulia is reporting that the asking price for home for sale on their website are up 2.5% nationally. Asking prices do not mean as much to me as the prices of sold homes. Trulia is reporting that asking prices in South Carolina are down 1.9% year over year.
I would say that the Median Price in Upstate South Carolina from the August 2012 Real Estate Market Report being down 4.9% from August 2011 would be more useful for local insight. Remember that real estate is always local and to compare apples to apples…
Go Directly to Jail and Do Not Pass Go
Interesting little blurb about a real estate agent in Hilton Head that is facing felony charges for trying to sell jewelry he stole from homes for sale. Remember you are innocent until proven guilty and I am not saying this guy is guilty. I have another point to make here..
What is really interesting is that the agent’s former broker is being criticized for not doing a criminal background check on this agent. I think it was last year or the year before, there was a push to have anyone getting a real estate license in South Carolina go through a background check. Which would have prevented this from ever happening since this agent was already on probation…