Contrary to Conventional Wisdom for Hilton Head Sellers

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Hilton Head Properties Realty and RentalsSpeaking with my coach, he told me that there are many that follow conventional wisdom when it is time to sell a property.  Conventional wisdom is what the public and experts believe to be true.  Listed below are reasons that are Contrary to Conventional Wisdom that apply to the Hilton Head Island Real Estate Market. Read the rest of this entry



5 Predictions for the US Housing Market in 2015

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PredictionAre you a current home owner who is considering listing your property on the market in 2015?

If so, then you’re likely to enjoy a lot of success!

After all, Realtor.com recently released its top predictions for the housing market in the New Year. And all of them seem to favor home sellers.

Let’s Take a Closer Look at National Housing Market Predictions

Millennials will enter the market en masse. This is something the housing market has needed for the last couple of years: More Millennials entering the market as first time home buyers. And according to projections, that’s what you can expect in the New Year, with more than two thirds of household formation being credited to this demographic. Helping matters is the fact that about 2.5 million jobs are expected to be added next year, improving home buying power.

There will be an increase in existing home sales. These sales are expected to increase 8 percent during the New Year. Meanwhile, as more people gain employment and increased incomes, distressed property inventory is expected to decline. All of this means a lower real estate inventory. This coupled with a surplus of buyers will create a seller’s market.

Home prices will rise. This generally follows when housing inventory shrinks. In fact, prices are expected to increase by an average of at least 4.5 percent in the coming year. Thus, if you’re thinking about possibly selling your home, 2015 is likely going to be a good year for doing so.

Mortgage rates will increase as well. For much of 2014, these rates have hovered around 4 percent and under. But with the previously mentioned factors and the Federal Reserve’s expected rate hike in the early part of 2015, residents can expect home loans to shoot up to 5 percent in 2015. If you have been thinking about re-financing, it makes sense to do it sooner rather than later since mortgage rates are likely to increase.

Home affordability will decline. With all of these changes on the market expected, home affordability is projected to decrease by 5 to 10 percent. This will be driven by price appreciation, mortgage rate hikes and tighter housing inventory. Again, if you’re thinking about possibly selling your home, 2015 is likely to be a good year for home sales.

See You In 2015!

We hope that as a home seller, you’ve found the above predictions encouraging.

We’ll be back in the New Year to discuss whether these real estate predictions come true and to revisit how they will impact buyers and sellers.

For now, we hope you and your family have a happy holiday season!



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Winter Is Best Time to Sell, Study Shows

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The housing market doesn’t hibernate in the winter. Sellers who list and buyers who buy often find the winter season the most advantageous time to make a move in real estate, according to a new study by the real estate brokerage Redfin. The winter season officially takes place between Dec. 21 and March 20, and real estate professionals should be ready for a season that often brings in more focused and active sellers and buyers.  Winter Is Best Time to Sell, Study Shows.


Hilton Head Island Residential Markets Zooming in November

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What’s Happening in the Hilton Head Real Estate Market Today

Residential markets on the Island increased 46% in sales in comparison to last November as boomers rush in to grab the lower rates and avoid the cold.  With over 2.5 million visitors, many returning over the past 30 years, this aging visitor is impacting the residential real estate markets on and off Hilton Head Island.   While demand and confidence has increased through the years, supply has declined with the Island now 97% developed.  It is safe to say the supply side of the economic equation is dropping every day and this will have effect on values.   Baby boomers may have hit a speed bump with the recession, but it certainly did not stop them.

Top 5 items on the Shopping List for Vacation home and Investment Buyers in 2014 according to NAR:

  1. 64% are looking for the Quality of the Neighborhood and Hilton Head has this hands down!  A relatively young town Hilton Head Island incorporated in 1983 and development was impacted by how it fits in with the trees.  Pretty cool!
  2. 46% are looking for Convenience to beach/leisure activities – Hilton Head Island is an 8 x 12 mile Island that is 97% developed.  Everything is close by!
  3. 41% are looking for Overall Affordability – Post recession pricing has carried over into 2014 and this will disappear once inventories tighten.  Some areas are already experiencing this on Hilton Head Island.
  4. 38% are looking for convenience to Shopping and Dining – With over 300 restaurants and shopping from South Beach to Old Town, Hilton Head again has it hands down.
  5. 45% are looking for A Planned Community – The majority of communities on Hilton Head Island are planned communities with covenants and amenities within the gates.

Market Trends for 2015 according to Robbie Bunting

  1. Tighter Inventory for Residential Properties and higher pricing – Due to the lower inventory levels, buyers may not like it, but will spend more in areas that have lower inventories.
  2. Premium Prices Paid For Turnkey – Many of the Island buyers are looking for turn key….and will pay a premium.  The opposite applies to properties that need work.
  3. Lock and Leave Lifestyles – Older buyers want to be able to travel and visit the kids. Security and being able to lock and leave is important.  B
  4. Longer Ownership – Buyers and boomers will hold their properties longer according to NAR research for up to 12 years.

Are you a seller that has been sitting on the fence?

Over 28% of sellers that purchased in the last 10 years stalled or delayed their property sale because their property would sell for less than what they wanted to sell it for or less than what they owed on it.  Now that buyers are once again in the market, sellers should not take these buyers for granted! There is still danger in the market.  While there are some confidences that may have put some sellers into the ether, buyers will lose 10% of their buying power for every ½ point change in mortgage rates as we go forward.   We have all seen what happens when buyers lose confidence!

If you are selling, here are some strategies for Selling A Hilton Head Property

  • Price it correctly. Price it within 3% of the selling price. Buyers are shopping and comparing on the internet. Just because it is the only one, does not mean it will sell for more.  Price it to sell
  • Condition is paramount. Buyers have choices and it is a real beauty contest:
    • Stage it to sell – The way in which you live in a home is very different than the way you sell a home. Invite a friend to come over…and help set the stage. Start packing up boxes and put them in storage. Clean off your front patio, door, hardware and back. Pressure wash. You only have one chance at a good first impression.
    • Fix it, don’t say it. No amount of seller concessions will ever sell a property that needs repair. Offering paint, carpet or any concession sellers  can expect a $2 discount for every dollar they should have spent. Buyers are demanding great listings and are making the decision on what they want to see based on what they see on the internet.
  • Pitch Location –Nothing you can do to change it, but be sure to embellish it! It is what separates a property from everything else. #1 Rule in real estate is BUY LOCATION. It builds value and separates on Island properties from off Island properties.
  • Access-Cannot sell a property if you cannot see it. Buyers are driving up and down 278 and the easier properties to access will be shown more and sell faster.

Final Word…The Internet is changing the way you do real estate…

Over 94% of buyers use the internet to find a property.  That is especially true for areas like Hilton Head where the majority of our buyers live somewhere else.  We have 39000 living here and over 2.5 million wanting to live here.  Almost 50% of buyers actually locate the property they ultimately buy on the internet.  Therefore, photos, virtual tours, helpful information including costs and local amenities will help a property sell faster.  Buyers are now searching the internet and comparing properties both on and off the Island.  What sets your property apart from the others?

This presentation made by Robbie Bunting with Hilton Head Properties offers forward thinking information based on real estate trends in the Hilton Head Market Place.  This information is not guaranteed for future gain.



Our 2nd Year Anniversary at Hilton Head Properties…Woohoo!

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We are celebrating our Two year Anniversary at Hilton Head Properties.  These first years have been amazing and we appreciate the support we have received from our clients and friends. We know we are in business because of you and will never take this for granted. Read the rest of this entry



10 Winter Home Improvements That Are Worth The Investment

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ChecklistWe hope everyone had a memorable Thanksgiving Day last week and enjoyed the long holiday weekend.

With December officially upon us, residents can expect temperatures to continue to dip as we head into the New Year.

So today, we wanted to share with you some relatively easy home improvements that you can make that will save you money during the winter months.

Home Tips for Saving Yourself Money This Winter

Here are 10 home improvements that you can make this winter that will save you both money and energy:

Caulk around windows and doors, making sure that all cracks and holes are sealed. This will keep the cold air out of your house, which will keep your heater from working overtime. If necessary, you might also consider adding or replacing weather stripping.

Add area rugs to your tile and wood floors. This creates an extra layer of insulation in your home and also makes it easier to walk around your home in bare feet during the winter time.

Install glass doors that close off your fireplace. This will not only keep cold air from coming down and through your house but it will also prevent warm air from escaping through the chimney. Also, if you use your fireplace, make sure to close the flue when you’re finished.

Insulate your attic door. For instance, you can buy covers for your attic staircases or openings. This will actually help you reduce energy costs all year long.

Cover your windows. Even if you don’t have storm windows, you can create your own with a window insulation kit. And inside your house, consider using insulated drapes.

Buy Insulated Garage Doors and Exterior Doors. Typically, the garage doors that come with most homes aren’t insulated. You can change that to save on energy costs.

Add insulation to your home throughout. This includes in the attic as well as the crawl space, garage and basement. Experts recommend that you add insulation if you haven’t done so in more than 20 years.

Reverse Ceiling fans. Some people may not be aware of this but you actually have the option of reversing your ceiling fans. Running them counterclockwise makes it cooler during the summer months but by making them clockwise, they will circulate warm air back into the room.

Replace your furnace filters. Just like with anything else, dirty furnace filters will make it work less efficiently. Generally speaking, filters should be changed every month during the heating season.

Replace your outdated furnace altogether. If your furnace is older, you might consider purchasing a newer unit that is going to produce more heat with less energy. Just make sure that you get the right size for the space you have.

If you want to take your home-savings even further this winter, you can check out the U.S. Department of Energy’s do-it-yourself energy audit on their website. Or you can call a contractor and request a professional audit.

Offering You National Home Advice You Won’t Find Anywhere Else

We hope you found this information helpful as a current home owner.

Please be sure to check back soon as we continue to provide you with useful and relevant real estate information!



Great New Listings on Hilton Head Island

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Ready to get out and take a look at some great properties after your Turkey Day Feast.  Just click on the photo for a visual tour.  If you would like the scoop on any of these properties or to schedule a showing anytime this weekend, email us at Robbie@robbiebunting.com or call (843)785-7111 ext. 1.  Thank you.

 

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4th Row Ocean on Hilton Head

 

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Close to everything in Palmetto Dunes

 

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All on one level in Palmetto Dunes

 

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3 acres Deepwater Daufuskie



Buy a new Hilton Head property for the New Year!

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Ready to get out and take a look at some great properties after your Turkey Day Feast.  Just click on the photo for a visual tour.  If you would like the scoop on any of these properties or to schedule a showing anytime this weekend, email us at Robbie@robbiebunting.com or call (843)785-7111 ext. 1.  Thank you.

 

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3 Bedroom in Barrington $519,000

 

 

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Leamington…$519,000

 

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Oceanfront 2 Bedroom with rentals over $60,000 per year

 

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Two Bedroom over 1600 heated…awesome for $329,000

 

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Wonderful Oceanfront 3 Bedroom

 

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Great Home on the Island for $235,000!

 

 

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Bankruptcy sale for $1,499,000

 

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On the lagoon in Palmetto Dunes

 

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3rd row ocean in Palmetto Dunes

Palmetto Dunes 7627 Huntington $419,000



Meet Darcey Sundling and HiltonHeadPropertiesRandR.com

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Meet Darcey Sundling with HiltonHeadPropertiesRandR.com Darcey is the property manager for vacation homes and villas on Hilton Head Island.  The best way to explain the benefits her company offers is with the short video above covering these key questions.

  • How can you increase my rental income?
  • How will you take better care of my property?

If these questions make you wonder, call on Hilton Head Properties R and R!

This is the best time of year on Hilton Head Island to consider making a change. In fact, there is no commitment whatsoever to find out what we can do with your property. Please contact Darcey Sundling at (843)785-2242 or via email at darcey@hhprandr.com. We are building relationships long after vacation is over!




Copyright © 2014 Hilton Head Real Estate. All rights reserved. Disclaimer: All content on this blog is my own opinion and should not be treated as fact or relied upon when purchasing or selling real estate.
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