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My first fifty

... dollar fill up was yesterday. And real estate agents tend to drive a lot so I'm not expecting it to get any better at the pump this summer as I drive clients around the Charleston area looking at homes for sale.

On a positive note, higher gasoline and food prices are not inflationary according to the government's core index.

But we know better, don't we. Wink

Published Tuesday, May 06, 2008 6:37 AM by Howard Arnoff

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# re: My first fifty

Yet despite all of these high prices, I've talked with 6 people recently that have all made an offer on a house in Charleston (actually MT P) in the past 2 weeks.  Even the house across the street from us that I thought would never sell is now under contract.  Things are moving.

Tuesday, May 06, 2008 6:21 PM by Claude Daigle

# re: My first fifty

Claude, how about sending a few of those people my way :)

But real estate activity does continue to be much better than the media reports, it just isn't anything like the high levels of a couple of years ago.

Now if we could get gas prices down to what they were a couple of years ago :)

Wednesday, May 07, 2008 4:33 AM by Howard Arnoff

# re: My first fifty

What data leads you to believe real estate activity is getting better?  Sales are down from last year and inventory is up.  You real estate agents consistently blame the media for reporting the facts.  Even home prices are dropping in certain parts of Charleston.

Friday, May 23, 2008 5:00 PM by Joe

# re: My first fifty

Joe, thanks for dropping by. Now, if you've read my blog for a while, you will notice that I don't embrace the hype and spin spewed forth by Lereah and Yun and provide serious numbers every month.

Having said that, I have reported on both unit sales being down and inventory climbing rapidly until stabilizing at elevated levels for quite a while.

What my comment said is that the headline by the media is generally worse than the report. Given the chance, they will highlight the worst.

As to Charleston prices, it is very simple. If there is much more activity at lower price levels, the median price will move down. That is exactly the case since the luxury market is very slow.

Saturday, May 24, 2008 5:27 AM by Howard Arnoff

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