The first half of the year in Real Estate Sales on Hilton Head rocked in 2012. If our sales volume is an indication of confidence in the real estate market, our individual sales volume year to date was about the total volume we did in 2011! These sales came from everything including a dollar lot to a multimillion dollar house swap. On my run this morning I started thinking of market research buyers and seller would like to see in this blog and have listed them below. While we are thankful for a strong first half, the second half of 21012 looks very promising.
We are half way through 2012 – are you on track to meet your annual goals?
During the first six months we sold 1071 properties on the Island Year to Date vs. 906 properties last year. There is definitely good news in our market and the sales year to date included 186 properties in Sea Pines, 150 in Palmetto Dunes, 116 in Forest Beach, 93 in Hilton Head Plantation, 49 in Folly Field, 19 in Palmetto Hall, 17 in Port Royal, 50 in Shipyard, 34 in Indigo Run, 17 in Windmill Harbour, 29 in Wexford, 15 in Spanish Wells, 17 in Long Cove and 280 off plantation on Hilton Head. Below is the updated Hilton Head Market Trend Report which also shows that last month even the higher priced properties are finding buyers this year! If you would like an interpretation of this report that can help any buyer or seller give us a call or email us at firstname.lastname@example.org . We will set up a free phone conference and talk about the benefits this information offers.
Halftime from a Hilton Head Lender
At the beginning of 2012 , the Mortgage industry expected a tough year …with steadily rising rates, fewer and fewer refinances, and a new purchase market struggling to find its legs. We are now at half time, and things could not be more different from expectations. Mortgages are now at the lowest they have been in 55 years. Refinancing is at an all- time high. Best of all, purchases in our PRIMARY markets ( New England, Maryland, Delaware, Ohio ) are booming. In the Hilton Head (a secondary market), purchases lag the primary markets by 6-12 months. We now expect that by the end of 2012 or first quarter 2013, that Hilton Head will see a rapid tightening of inventory, and prices will firm up considerably. Look for being off to the races again during 2013. Look for 2012 as the last year of the bargain real estate.
Contact David Crowell below for more information
David Crowell, SE Regional Manager NMLS #12620 Certified Mortgage Planning Specialist Mortgage Network, Inc. Corporate NMLS# 2668 1000 William Hilton Parkway, Suite 205 Hilton Head Island, SC 29928 Office: 843-842-4004 Fax: 843-785-6404 email: email@example.com South Carolina Mortgage Loan Originator License # MLO-12620, Georgia Residential Mortgage Individual License # 28593 and Georgia Residential Mortgage Company License # 15441, Massachusetts Licensed Lender & Broker MC2668, North Carolina Mortgage Loan Originator License # I-130367
Halftime from Hilton Head Vacation Rentals
Hilton Head Island vacation rentals have had a strong start to 2012. Local Accommodation tax collections increased 26% over last year in the first quarter. In the past 6 months of this year both occupancy and average daily rates have made strong improvements for vacation rentals as well. Looking forward, this summer will perform similarly or slightly above to last year. We are still seeing short lead times for bookings and demand for shorter lengths of stays in the off peak summer weeks. Overall the next 6 months will see positive growth for vacation rentals on Hilton Head Island.
Contact Robert Stenhemmer below for more information
Robert Stenhammer has been a resort executive for over 15 years and has an MBA in Hospitality and Tourism. He is the President of Hilton Head Accommodations and serves on the Board of Directors for the Hilton Head Island/Bluffton Chamber of Commerce and is Vice Chairman on the Accommodation Tax Committee for the Town of Hilton Head Island.
Halftime from Long Term Rentals
The first six months we averaged 13 rentals per month. January started with 14 rentals and May was exceptional with 18 rentals. This has depleated our available rentals. The demand is still strong for rentals under $2,000. We are starting to see buyer taking advantage of the lower prices and interest rate, as they are buying now anticipating moving to the area within the next 4 or 5 years. All indications and publication are indicating this tend will continue for the next 5 years.
Contact Keith Miller below for Long Term Rental information
Keith A. Miller, PMIC, Miller Long Term Rentals Inc., 4 Dunmore Court, Bldg A, Suite 102
Hilton Head Island, SC 29926 (843) 682-4310, FAX (843) 682-4316 Keith@MillerLongTerm.com