Hilton Head Real Estate

The way you live in a home is different than the way you sell it!

These days marketing strategies are more important than ever for home sellers. With homes on the market in greater numbers and prices at an all time low, sellers need a competitive edge to put themselves ahead of the competition. Staging a home before it goes on the market is essential in making it the best product for potential buyers. Staging a home can range from a few decorative changes to furnishing vacant spaces.  Any attention to enhance a home for the market will improve its selling potential!

Once you find the deal of the century…decorate it!

If you are a new property owner or have a property that needs updating, there are many wonderful savings to be found in home decor and I know where they are!  Not only are sellers benefiting from my staging services, but as a furniture retailer, I can assist new home owners in getting their homes/villas ready for the rental market or for personal use.  Recently, I have seen an increase in business as new purchases are being made and these new owners need assistance getting  their “almost perfect” dream home or villa perfect.

To get the most out of your home for sale or your home for purchase, call me for a free consultation.

Kelly Hughes
Designing to Sell, Inc.
(843) 301-3226
www.designingtosellinc.com

A note from Paul Griz, CPA about Short Sales and Taxes

Whenever a debt of a taxpayer is forgiven by a lender, whether the debt is credit card debt, home mortgage debt, or other debt, the forgiven debt, i.e., debt relief, is generally taxable to the taxpayer.  With regard to short sales or foreclosures, if you have reached an agreement with your mortgage lender in which the lender has agreed to forgive your mortgage, you will be subject to income tax consequences.  The lender will typically issue either Form 1099-C “Cancellation of Debt” or Form 1099-A “Acquisition or Abandonment of Secured Property” in the year of the asset sale.  In other words, you should receive one of these forms from your prior lender in the year of the closing of your home.  At that point, the debt forgiveness is reported to the IRS as income.

Qualifying Exclusions

There is good news, however.  Code Section 108 and 1017 provide several exclusions from the recognition of this debt relief income on your tax return.  If you qualify for one of the exclusions, you still will need to reflect the information of Forms 1099-C or 1099-A on your income tax return, but the debt relief income will not be taxable to you.  Furthermore, if you qualify for relief and do not have to report the taxable income, you will need to file Form 982 with your income tax return.  Form 982 “Reduction of Tax Attributes Due to Discharge of Indebtedness” addresses the proper handling of the reduction as a result of the debt relief.  For example, if debt relief is not taxable to you because one of the exclusions, then certain tax attributes (for example, carryover losses, credits, cost basis, etc.) must be reduced to the extent of the debt relief.

Questions?

If you have any questions about the income tax consequences to short sales, foreclosures, or any debt cancellation, please call Paul Griz, CPA at 843-422-4100 or paulgrizcpa@gmail.com.  He has extensive experience and training in debt cancellation issues and the corresponding exclusions.  Paul will be able to provide the necessary guidance in these very complicated matters as a result of short sales and foreclosures.

The Director of Sales at Dunes Marketing Group, Bill Baldwin was recently quoted in the local Island Packet stating that the Hilton Head real estate market bucks the downward real estate trend reported nationally.  Now I really don’t know how a newspaper makes money, but as a Hilton Head homeowner and a realtor on the Island, I think I would read the paper more often and even advertise more frequently if the paper had more news like this in the headlines. Read the rest of this entry

Daufuskie Bulletin Board

As we discover and hear new and useful information, we would like to post it up on this Bulletin Board so others may be able to utlilize new services or ways to better enjoy the Island.  Please email us if you would like for us to consider posting something that is useful for others.  Thank you. Read the rest of this entry

Interested in learning about short sales on Hilton Head Island?

If you are a buyer or seller and are wondering what a short sale is and how you can benefit, shoot us an email at robbie@robbiebunting.com or call us toll free at 800-932-3652.  Essentially a short sale is selling a property for less than what is owed the bank.  We have worked out many short sales for our buyers and sellers and have found that although time consuming, they can be a way for a purchaser to get a great property or a seller to get their otherwise upside down property sold.    Read the rest of this entry

In the 25 years of selling real estate on Hilton Head Island, I have seen buyer cycles come and go.  Although this cycle may appear longer or deeper than the others, it too shall pass.  One thing I have found in these cycles is that the very best real estate deals are often struck when the news in the papers is really, really bad.  That said, the recent NYT article “Widespread Fear Freezes Housing Market” triggers another good reason to buy real estate on Hilton Head.  While it may have made every buyer and seller shudder, one agent said it perfectly when he stated “Do the opposite of what they say in the newspapers when you buy and sell real estate on Hilton Head Island and your timing will always be good”…and the local numbers support the reasons why! Read the rest of this entry

Good news, we found lot financing on Hilton Head Island!

If you have been considering buying a great home site in the Hilton Head Area but wanted to finance the purchase, we  found a source for lot loans!  This financing is available for qualified buyers that want to build in the future as a second home or primary residence(no investment properties). Read the rest of this entry

Meaningful conversations are not always easy!

It is said meaningful conversations contribute to happiness.  One agent explained that he has been telling good people some tough stuff lately.  We all seem to dance around the tough subjects, but certainly it makes more sense to have a meaningful conversation before a selling season.  These tough conversations often revolve around issues including access, condition or price with timing on the sellers side for the upcoming fall season!  Read the rest of this entry

Baby boomers will make their move to Hilton Head in 2011

It is not until next year that baby boomers will begin retiring in force and this group will have major impact on areas like Hilton Head Island despite the economy.  With the “oldest” turning 65 years and the “younger” ones turning 50, these boomers will start begin their pilgrimage in numbers next year.  Although we are busy selling real estate on Hilton Head, this is the calm before the storm and we need to prepare ourselves for this deluge.  The economy may have slowed some of this group down, but it is impossible to stop them.  The key though is to be in front of them. Read the rest of this entry

A Hilton Head Market Study by Area

Recent market reseach compiled by our Hilton Head Island Area Association of Realtors and the Multiple Listing Service of Hilton Head allows us to share with you important market information about each area on and off Hilton Head Island.  This market research gives us a snapshot of what has been happening areas around Hilton Head Island. 

The Hilton Head Market Reports include: 

• The Number of New Listings
• The Number of Closed Sales
• Median Sales Price*
• Percent of List Price Received at the sale
• Average Days on Market Until Sale
• Inventory of Homes Currently for Sale

Please find your area and click on the link below for more information and important market research: 

• July Sun City and Riverbend
• July Rose Hill
• July Belfair
• July Colleton River
• July Moss Creek
• July Bluffton Off Plantation
• July Hilton Head Off Plantation
• July Windmill Harbour
• July Spanish Wells
• July Indigo Run
• July Palmetto Hall
• July Hilton Head Plantation
• July Port Royal
• July Folley Field
• July Palmetto Dunes
• July Long Cove
• July Wexford
• July Shipyard
• July Forest Beach
• July Sea Pines
• July Sea Pines

If you would like for us to review the information above with you, please email us at robbie@robbiebunting.com or call us direct at 800-932-3652.  We look forward to talking with you about these statistics and how they are important.  Kind regards,  Robbie Bunting