The most critical information that our Hilton Head Monthly Market Trend Report conveys is what I call the “Big Three”. These are the vital statistics for determining negotiation or pricing and include:
- Average List price to Average Sales Price ~ This is a direct indicator of negotiation opportunity and the firmness of the market. Buyers and sellers can benefit by understanding this number
- Average Days on the Market ~ This time frame applies to properties that are priced correctly for their condition and location.
- Average number of listings taken vs. Average number of sales in a given period which will give us the number of months of inventory that available for sale. This can help buyers and sellers determine strategy.
This report is a snapshot of how the market place has performed in the recent past, which is often a good predictor of future market performance for sellers and buyers. If you would like to receive a monthly report by mail or e-mail, please email us at email@example.com or call Jane Hyers to set up a phone appointment at (843)842-0805. This is not only a good map of where we have been, it points to where we may be going. Happy Hilton Head! Robbie Bunting
One buyer from last year, just purchased their 3rd home because they put long term renters(greater than 12 months) into the other 2. I called them before they closed on this home and offered another long term rental prospect, but the buyer wanted a place that they could use and enjoy(for this winter at least until we find another one for them). We asked a local long term rental expert, Keith Miller from Miller Long Term Rentals to share with us some information about the long term rental market needs. Read the rest of this entry
The other day one of our clients that buys and sells Hilton Head real estate on a regular basis sent us this article on high end mortgages(Click Here). We asked around for some ideas as to what this could mean and found out the following: Alt-A are wall street securities allow for high quality borrowers to qualify outside of the fannie mae guidelines. So loans higher than $417k can be made to borrowers who have assets but little tax return income, etc etc etc. This may mean that the street will soon be back into the market, which would mean the return of alt-A mortgage products. Which would be interesting. Or it could mean more traders have found a way to heavily profit from mortgages for a third time , with no added value ( of course ).
For more information, or discussion, please contact me. Thank you.
We are offering Dream Home Experiences on Hilton Head Island. The key to getting your Dream Home is to have a team that works on your behalf to make it happen. In part 1 of the short video above, you will hear from Karen Verechia of Studio V, a recent buyer on Hilton Head Island about how she almost lost her dream home and how she was able to put together the team that helped her get it. In part 2 of the video below you will hear from David Crowell of Mortgage Network on how to make it happen. Read the rest of this entry
The Medicare Tax is a 3.8% tax that goes into effect January 1, 2013 and it does not apply to all Hilton Head owners. Only “high income” owners with Adjusted Gross Incomes(AGI) of more than $200,000 for individuals or more than $250,000 for married couples will have to deal with this new tax. As well, it does not apply to principle residences under $500,000 held jointly or $250,000 for a single. We suggest checking with your financial counselors to see if it is beneficial to sell before this new tax is put into place. The reason it is called a Medicare Tax is that this money will be allocated to the Medicare Trust Fund that is part of the Social Security System.
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Condo insurance or an HO6 insurance policy bridges the gap in coverage between a condo association’s master insurance policy and the owner’s property (furnishings, fixture and personal items) and personal liability protection. If you are acquiring a mortgage in order to purchase a villa on Hilton Head Island, your mortgage lender will most likely require you to purchase this policy. Read the rest of this entry
Thanks to our friends at Hampton Hall for this excellent golf membership comparison below. If you would like club membership information packages on any of the clubs below, please contact us at firstname.lastname@example.org or call us toll free at 800-932-3652. Read the rest of this entry
Mark Twain and Will Rogers shared a sentiment as Twain said, “Buy land, they’re not making it anymore”. This is especially true on an Island, like Hilton Head. With over 97% of the Island developed there are timing opportunities that exist right now with vacant land. In fact, last week one of our home owners on the Island purchased the land adjacent to his home to protect his privacy and for investment. Land is one of the easiest forms of ownership and the land deals today are very compelling! Read the rest of this entry
We study market trends and know that there are some times of year that are better than others to sell Hilton Head Properties. If you have considered buying or selling real estate these seasonal trends can be your friend. We looked to Zillow to show the Best Selling Seasons on Hilton Head that took place last year. Read the rest of this entry