In a recent Augusta Chronicle Article - "Augusta Bucks Trend" - we here in the Central Savannah River Area (CSRA) where told how great it was that there was a 33% reduction in foreclosure listings - forgetting about the nation-wide moratorium that precipitated that reduction.
In response, I sent a letter to the editor which was never published.  I post most of the actual letter here for your amusement, enjoyment, and hopefully - some education:
Please, please - if you're going to sell this year, you have to know what you're facing - this is not a pleasant thing to post on a real estate website - I just feel you are best served knowing EXACTLY what you're facing.
Anyway - here's pretty much the whole letter:
Dear Editor,
 
It seems today's extensive information about the Augusta area housing market is great news for us in the CSRA, but I beg to differ.  The numbers simply do not add up and point in other directions.
 
There are three things happening in our market, call it "The Good, The Bad, and The Ugly."  All data comes directly from the Greater Augusta Association of Realtors MLS reports. 
 
The Good:
 
The number of residential sales for April increased over March - no small feat given the typical decrease due to Masters guests killing the first full week of Buyer traffic. 
 
Condo sales are up 27% over 2008 numbers (unfortunately, this is a minuscule sector of our market).
 
Overall inventory numbers (available homes) remains around 4,200 properties (residential, all types) since January - "Bucking the Trend" of Spring spikes in inventory as summer sellers get their homes on the market.  This is down over 500 properties from a high last June of 4,740 homes on the market.
 
FHA loans may soon be available with the use of the $8,000 tax credit as a down-payment.  Stay tuned for more as this is already happening in the State of Arizona and elsewhere.  Expect this to be in the form of a type of bridge-loan to be paid back upon receipt of the credit or forgiven when the gates are met for resale (three years of ownership minimum).
 
The Bad:
 
The only time prior to 2007 that overall residential inventory exceeded 3,500 properties was in November of 2006 - 3,515 end of month inventory).
 
The Ugly:
 
The average sales price for the first four months is $148,933, down from last year, down from the year before, down from every year since 2005 (this will probably go up by the end of the year, but only March of 2009 has so far beaten 2008's monthly numbers - which where down from 2007).
 
Overall residential (homes, condos, townhomes, manufactured homes - includes new construction) sales numbers are down 17% from 2008 numbers - which where down 22% (or more) on 2007 numbers, which in turn where down at least 4% on our best year - 2006.
 
Townhome sales - which had a great year in 2008 (less than 1% change over 2007), are down Year-to-Date (YTD) 43%.
 
Residential sales (single family, stand alone) are down 13% YTD on 2008.
 
Manufactured home sales are down 55% YTD on 2008 (This may be the hardest-hit sector as financing for this type of residence is harder and harder to find).
  
Knowing the situation is half the battle.  We all await the day when the news is good - and that day is coming.  It is simply my considered opinion that we are not there yet when you compare apples to apples. 
- Since this was never printed, I'm using this venue to get the information out to my clients, future clients, friends, fellow bloggers, and the general public.  To be informed is to be armed - regardless if you're a Buyer or a Seller.
Navy Chief, Navy Pride