Everywhere I go in North and South Carolina, I am asked: “How is the residential real estate business?” and “Have we reached the bottom yet?”

I can truthfully say that we have bottomed out in most marketplaces and neighborhoods.  Realtors^®, bankers, developers, buyers and sellers all have a pretty good feel on where market values now exist.  The “free fall” of home prices and values and the fear of the unknown, exacerbated by the constant flow of foreclosures and short sales, have slowed down.

Why am I predicting onward and upwards from here, you ask? The stability of the stock market and the rise in economic development has given us the resolve we need to climb out of the trenches. The November election, historic low interest rates, more realistic pricing, and the builders cranking back up for the Spring market will ensure that good values for homes are around every corner.

You see, we have never stopped growing population-wise in North and South Carolina.  Just like the rest of the country, we were caught wrestling with the new “norm.”  For instance, the stock mark has settled around the 10,000-12,000 point range – not 15,000.  Housing has reached back into normal appreciation levels of 2-2.5% annually, the way it was in the 1950’s; not the 5-30% per year we saw in recent years.

I see a steady confidence and a window of opportunity. Before interest rates rise, inventories decline, and builders bring huge numbers of homes priced to reflect the new “norm” and full of amenities to the market, take action.

If you have equity, the time to refinance or move is now.