Jane was talking to me about the half price sale at Outdoor Hilton Head.  Even with the slow economy there was a line around out the door and she had to wait to get in the door.  She said it was like a $1 sale at Walmart – people were grabbing things off the shelves.

I think this shows how people are looking for a value in today’s market – this applies to real estate as well.  People will buy if they feel like they are getting a deal.  If they do not feel like they are getting a deal, they will wait for the market to bottom out.

All you have to do is look at the local newspaper; yesterday the headline read “Economic Forecast to Worsen”.  Obviously, anyone understands that if the press is saying that the economy is going to get worse, people are not going to buy today unless they are getting a deal.

I do not expect us to sell our property at 50%, but there are a number of motivated sellers that for whatever reason, have said they would sell at whatever price it would take to sell in today’s market.  I had one of those this weekend in Port Royal Plantation and the seller said he wanted it sold and adjusted the price.  Even in this slow market, there were some buyers and we had some people look at the house.

What does all this mean – my wife got a great deal on a coat at Outdoor Hilton Head and you can get a great deal on real estate on Hilton Head if you are ready to act today.