Market Update and the ARK Race Weekend

The following was taken from Roni's live Facebook video on 8/28/22.


Happy Friday friends. I am here in front of the ARK, which is one of our local charities. It is supporting families that have loved ones with Alzheimer's and dementia needs. So I'm here, the big race is happening this Saturday, tomorrow morning, and we will be in downtown Summerville as a sponsor for that. These are all local businesses. Look at here. Here are. And we're amongst some of my favorite people here in Summerville and within the Charleston area, but tons of support for the ARK. That is one of the unique things about our community, the quality of life, the support that we give to those that are in need here in the Summerville area and the greater Charleston region is just outstanding. So I'm happy and quite honored to be able to participate in these local events and charities. And so, we will be out there with a tent tomorrow, starting at about seven o'clock, so stop by, visit with us. Even if you're not running the race, come and support those that are and make sure to stop by our tent because we've got some fun giveaways and some fun games to play over at our tent. So stop by and say, hello.

Here's another fun thing that we're doing this week. So this is Summerville High School's first home game and fall season is here. It is so great. I know there's many, many people that are excited that football season is here. We are one of the athletic sponsors this year at Summerville High School. And so, if you're going to the game, make sure to watch the jumbotron, it's going to be a blast. We've done great video work, we've given little snippets of insight for that, that's coming up. But go to the game and watch the jumbotron, we'll have four 30 second ads that play.

But talk about Friday Night Lights, summerville has a history that is like none other. If you do not know about Summerville High School's football history, Google it because it is outstanding. The coaching staff that we've had, quite honestly, just the history of the wins that this town has. And it has been so impactful for the community, but I am auctioning off a parking pass. Now this is a season parking pass, and you can either park in lot A or B by one of the two gates, either one of your choosing, during the whole home game season. So if you are interested in a parking pass for the local high school... for the Summerville High School games, bid on this. I will keep it open until four o'clock today. The money that is accumulated and given for this pass will go to a local charity of the buyer's choice. So it does need to be a local charity, we want to keep the money local and support those in need in our community, in our backyard, so to speak. But give your highest and best bid by four o'clock today and this parking pass to the high school game can be yours.

Thank y'all for tapping in. Make sure to share the video with anybody that you feel might be interested in learning about the local market, the things that are happening within the Summerville community, but also, especially if they are planning on going to Summerville High School games, somebody's going to be a lucky winner of this.

So anyways, let's talk about the market update for a minute, because it has been shifting. For really the first time in a decade we have seen the market, the pendulum swing a little bit downward. So the best way that I can describe this to my seller clients is, I'm not much of a gambler, but every once in a while, as in maybe once every couple of years, I like to go and stand at a craps table. And I'm going to take $100 to the craps table, right? And I like to know that my money and investment is secure, so I'm going to play. If I'm up and I have about $500, and that table starts to turn, so to speak, and I'm down to about 400 bucks, guess what I'm going to do? I'm going to take my money and leave that table, because it has turned, right. And that's kind of what we're seeing with the market shifting right now is, it has started to shift. We've had a huge upswing in value. You're still making money. You're still up from where you started, but it may be the right time to go ahead and list if it's the right time for your family, if there is a strong need for your family to move and go ahead and make that decision to sell now.

So interest rates are climbing, that's a big reason that we are seeing a shift in our market. But let me tell you something. With only 14 days, as in average days on the market for our MLS, it's still a seller's market. So it is not too late, take the plunge, get your house listed, contact me if you have any questions at all, and we can talk about what we need to do and what kind of pricing that we need to put onto it. To give you a couple of market statistics, 213 houses sold, or I should say, went under contract this past week. That is less than what we've been seeing in weeks prior. Five of those were short sales and foreclosures, which is up from where I've been reporting it and that's been at zero, maybe two. We have had five, I'm sorry, foreclosures or short sales in our market. But guys, that still way far less than 1% of our sales, so I'm not concerned about that. If you're looking to invest, it still is the best opportunity to look at either estate sales, which is promising. We can find those on the market. I do a lot of estate work.

So if you're interested in getting into an investment property or we can also find things off the market. So if you're interested in investing and building wealth in real estate, I'm your chick. Reach out to me. I cover all of Charleston market, but I really focus in here on the north area in Dorchester and Berkeley Counties. I'm available this weekend to talk real estate with you. If you have any needs or if you know anybody, share my information with them. Make sure to follow me @thatscrealestatechick and I hope to see you guys this weekend. Don't forget, bid, make your bid down below for the parking pass for the season, okay? Take care. Have a great weekend.

That SC Real Estate Chick's Blog

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