Area sales of real estate. According to the Island Packet on 3/20 some Realtors expect the summer season to bring a rise in home sales. However, they have lagged 30% during the first 2 months of the year & home prices fell…with the median price almost 37% lower than the same month in ’08. The state’s assmt figures are for the HH area including the 8 counties of Bft, Jasper, Allendale, Carnwell, Colleton, Hampton, Orangeburg & Bamburg (from the SC Assoc of Realtors). “After Oct, the # of closings per month dropped significantly. But there’s been more buyer traffic & summer is approaching. Realtors in the area are hoping that with low interest rates & the tax credit for 1st time home buyers- this combination may convince clients to buy. Of course, we’re not talking of second homes here. A front page article in the Bft Gazette on 3/19 announced that 3 local homes would be auctioned at 6PM… a Bft, a Port Royal & a Fripp home to the highest bidder. They were hi-end rental properties owned by a KY resident who NEEDED to have them taken off her hands. The next day, an inside page article stated that there were NO bids on any of the 3 properties – even though there were 8 registered bidders & about 30 spectators. However, according to the Charlotte Observer, (3/23) their auction of more than 500 foreclosed homes from NC & SC went for amts that were far below their orig asking price. More than 1000 people attended & home prices ranged from $100,000 to the Million dollar range.
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