Blog Hilton Head

Big News!

Jane and I had the best January we have had ever in real estate with 7 sales transactions and almost 4 million in real estate sales or listings.  Combined with February, Dunes Marketing had Big RESULTS thru February:

Transactions and dollar volume up almost 50%! Read the rest of this entry

A Realtor takes a stand!

Hilton Head Island’s conforming loan limit too low! 

The market is correcting and real estate is selling, but there is one more thing that is holding us back from full recovery in Hilton Head.  We are currently working with a conforming loan limit of $417,000 which is not indicative of the coastal area we live in with its $695,000 median house cost(2009).  Something must be done about this!

All conforming loan limits are not the same!
We did not show up on the radar when it came time to assign conforming loan limits because HUD assigns these values based on the county that these properties are located in.   There is just too much of a difference between our conforming loan limit and our average price home(almost $400,000).  Conforming rates should match the area, but in this case they do not!  We need HUD to establish a conforming loan limit based on our town’s average median home sales price(or zipcode).  This is like a small drip, if we do nothing it will cost all of us a lot of money.

Robbie Bunting, Broker Associate
Hilton Head Island
www.robbiebunting.com
robbie@robbiebunting.com
800-932-3652

An Appraiser takes a stand!

The present loan limit of $417,000 significantly impacts our local market.                 

It is evident in the appraisal assignments I have received in the past year.  In 2009, I only had fourteen assignments where the contract amount exceeded $417,000.  In 2003, before our inflationary period, I had forty-seven assignments where the amount was in excess on $417,000.

If you just analyzed sales data in Sea Pines Plantation, ignoring 2004 through 2007, here is the sales data that you would see.

• 2003 Medium Sales Price = $605,000 and the average Selling Price was  $   815,000.
• 2008 Medium Sales Price = $799,500 and the average Selling Price was  $1,012, 387.
• 2009 Medium Sales Price = $685,000 and the average Selling Price was  $   924, 224.

We are not Beaufort County; we are a Coastal Resort that produces huge tax dollars for our state when we are not hampered by unreasonable lending restrictions.

Bruce A. Goff, Owner Bruce A. Goff, Inc.
PO Box 4652 / Hilton Head Island, SC 29938
SC Professional Appraisers Coalition, Board/Past Chairman
SC State Certified Residential Real Estate Appraiser, CR29
Licensed SC Real Estate Broker / SC Real Estate & Appraiser Instructor
Voice: (843) 686-4444 / Cell: (843) 683-4444 / Fax: (843) 686-4858
Website: www.brucegoffhhi.com / Email: brucegoffhhi@yahoo.com

A Lender takes a stand!

Conforming loans are those purchased by Fannie Mae and Freddie Mac.
Both have set the loan limit at $417,000, but under pressure from Congress have increased the limit in certain “high cost areas” to as high as $800,000 (Hawaii). Hilton Head does not qualify as a high cost area because it is part of Beaufort County. This is clearly wrong and could be corrected very easily by appropriate pressure on our Congressional representatives.

The scoop on conforming vs non confroming loans.

If this anomaly was corrected, then Hilton Head homeowners would enjoy greatly increased access to credit . Since a high number of homes in Hilton Head require lending between $500-$900,000 this would in one single move stimulate our most important market sector. Simple problem: Simple solution. By the way, our representatives would not need to move heaven and earth to get this job done. It does not require a change to law; it only requires a walk down the hall to the chairman of the relevant committee , and a few minutes of old fashioned horse trading.

David Crowell
Senior Loan Officer
dcrowell@mortgagenetwork.com
Mortgage Network, Inc.
1000 William Hilton Parkway
Suite 205
Hilton Head Island, SC 29928
Office: 843-842-4004
Fax: 843-785-6404

An Association takes a Stand!

If the loan limits were set by an area smaller than an entire county, such as a town or city, there would be areas in the state which would be able to take advantage of the new limits.  Coastal properties have historically held a higher value, and since the coastal town is being analyzed with the county, it limits the opportunity for the increase  in the FHA and GSA loan limits.Please read the entire position paper by clicking here>>>

Jean Beck
Executive Vice President
Hilton Head Area Association of REALTORS®
32 Office Park Road, Ste. 124
Hilton Head Island, SC  29928
843-842-2421 x222 (o)  843-301-2160 (c)
www.HHRealtor.com

We need you to take a stand!

We need your help.  Please forward this email to everyone you know that owns property and call your Senators or Congressman. 

Please take these steps:

1. Foward this email to anyone that you know that owns property in Beaufort County!
2. Contact your Senators and Congressman below!

The Honorable James Demint
340 RUSSELL SENATE OFFICE BUILDING WASHINGTON DC 20510
(202) 224-6121
 
The Honorable Lindsey Graham
290 RUSSELL SENATE OFFICE BUILDING WASHINGTON DC 20510
(202) 224-5972
 
The Honorable Joseph Wilson
U.S. House of Represenative
903 Port Republic Street, Beaufort, SC 29902
Mail to: Post Office Box 1538, Beaufort, SC 29901

A higher conforming value will make it attractive to buy and refinance our homes and will have the end result of stabilizing our market.  It will allow people with good credit to lower their cost to buy or re-finance their homes and it will help stop the foreclosures and short sales that are taking place.  IT IS TIME TO TAKE A STAND.

A natural high. 

The Hilton Head bridge allows all those that cross over a chance to transition.  Some are leaving behind their stress, others are reaching for more time together, while others are simply returning from Home Depot.  One of the best parts about living on an Island is that we have a bridge to remind us of the natural beauty that surrounds us.  Everytime we cross the bridge towards the Island, we get a natural high and are reminded  to slow down in life(and speed) as we hit the pavement.  So what does the bridge mean to its visitors, its residents and to you?

Parachute everything on arrival to the Island!

For Island visitors the bridge offers a chance to leave everything behind and start anew.  It can be seen in every visitors face as they cross over the bridge for more important things in life including time with family, time with nature and time to breathe.  The bridge allows all of us to parachute the things we wish to leave behind as we cross over to Hilton Head Island.

Jumpstart tired batteries!

For the second home owner, the bridge is a jumpstart to their tired batteries.  As this group heads over their bridge, they feel recharged as they head to their place of personal power.  The bridge gives them the chance to think about all the great things they work so hard for.  Crossing over the water triggers memories of all the wonderful things ahead.

The luckiest group of all!

For the full time resident, we are the luckiest group of all.  Sometimes though it takes crossing the bridge to remind us of everyting we have.  Perhaps it should be an “Islander Requirement”  to cross the bridge at least once a week to refresh our reasons for living here.

As you cross over the Hilton Head Island bridge, what are your thoughts?  It is my hope that as you cross over that you feel recharged, that you leave your stress behind and that you breathe a sigh of gratitude.   If you wish to join the luckiest group, email us at islandrealtor@hargray.com .

Shoveling Sunshine on Hilton Head!

I love calling prospects in the north after a big snow storm.  As we chat the conversation always turns to the weather.  With over 200 days of sunshine and subtropical temperatures, Hilton Head Island offers incredible weather throughout the year.  One of the best guides to our weather is The Real Seasons of Hilton Head by Todd Ballantine shown.  Not only is our weather good, we shovel a lot of sunshine all year round. 

Hilton Head Island is kept warmer in the winter and cooler in the summer by thermos or the ocean breezes over the warm sea(that is why you see people swimming in the ocean in January).  In fact, our moderate winter days are typically warmer than other inland southern cities.  As well winter months have less rain than the wetter summer months with sub tropical temperatures that are perfect for snowbirds or real estate shoppers looking for a warm weather escape.  The winter is the Island’s sports season, which is perfect for golf, long beach walks, biking, tennis and most other outdoor activities. 

For all of those digging out in the Northeast today, here is a link to today’s weather on Hilton Head Island.  Of course, if you are tired of shoveling today and would like to look at some Island Real Estate, we would be more than happy to help out.  Simply email us at robbie@robbiebunting.com and put in the subject line “Warm me up!”

Baby boomers want to be warm and wet!

In their retirement and golden years baby~boomers want warm weather and the ocean nearby.  Do not wait to long to make get your foot in the door on Hilton Head Island as boomers are now turning 60 at the rate of 8,000 a day and represent 38% of our total population in this country.  The way I see it based on 2.5 million visitors per year to Hilton Head Island, we have over 950,000 of  these Baby Boomers visiting the Island with about 50,000 of them turning 60 years old every year for the next 17 years.  Our recommendation is to be ahead of this herd!  We are just beginning to hear the rumble.

Everyone wins with a direct rental!  The guest wins by saving money.  Listed below are some of the best rental properties in the area.  If you are interested in finding a rental property please feel free to visit any of these properties and contact the owners directly.  If you would, please let them know you found the property on Robbie’s Blog.   

The property owner wins by increasing revenues.  If you own a rental property anywhere on the Island and would like to post it on this website, please email us at robbie@robbiebunting.com.  If you do not yet have a rental website, we have a designer that  will help you design a VRBO rental website and get you up and running.  Even if you have a rental company, this will add money to your bottom line!

Palmetto Dunes Rent Direct Properties

VRBO 12546 – 164 Mooring Buoy – 2nd row home – 5 bedroom

VRBO 63500 – 47 Full Sweep – Near Ocean – 6 bedrooms

VRBO 54961 – 45 The Moorings – Near Oceand – 2 bedroom

VRBO 57151 – 8137 Wendover Dunes – Near Ocean – 3 bedroom

VRBO 55399- 309 Barrington Court – Oceanfront – 1 bedroom

VRBO 88402 - 823 Ocean Cove – Near Ocean – 2 bedrooms(pet friendly)

VRBO 34404 – 713 Barrington Park, Oceanside 1 Bedroom with waterfront pool.

VRBO 289626  – 7643 Huntington Villa – 4 bedrooms, big water views, flip flops to the beach!

Daufuskie Island Rent Direct Properties

VRBO 261962 – 1403 Sandy Lane – Oceanfront Penthouse – 3 bedroom

VRBO 204501 – 3802 Melrose Cottage – Oceanfront – 2 bedroom

VRBO 101835 – 35 Fuskie Lane – Oceanfront – 5 Bedroom home

North & South Forest Beach Rent Direct Properties

VRBO 274352 - 121 Dune Lane – Oceanfront – 5 bedroom new home

We need properties in the following areas:

Sea Pines Rent Direct Properties

Shipyard Rent Direct Properties

Folly Field and Singeleton Rent Direct Properties

We hope this service helps both the owner and the rental guest.  If you would like to purchase a rental property, please search our MLS here or visit some of the best properties we offer here!

The Hilton Head migration of golfers has begun.  Once again, the big SUV’s and passenger vans will once again be rolling in and golfers will be stretching their legs as they check in for their golf trip to Hilton Head.  We have put together a list of some of the best golf packages and golf courses information below.   

Palmetto Dunes Golf Package

Palmetto Dunes offers anything frome one bedroom villas to bigger rental homes depending on your golf group’s size.  They offer several golf  packages including the “The Unlimited Golf Package” which features accommodations plus endless golf on three of their courses. Stay 4 days/ 3 nights in select resort villas starting from $179 per person, per night and with complimentary repeat rounds available on the same course, same day based on availability. View all the golf packages here>

Hilton Head Marriott Resort in Palmetto Dunes

This hotel is perfect for the smaller buddy groups or couples.  You will not only enjoy the world class amenities of this oceanfront resort, you will get a chance to tee it up on courses designed by the game’s greatest – Nicklaus, Fazio, Player & Jones!  These golf packages also can offer breakfast buffet for 2 each day, a spa for massages and restaurants on site in this oceanfront hotel on the beach in Palmetto Dunes.  View all of their golf packages here>

The Oceanfront Hilton Resort in Palmetto Dunes

This oceanfront resort offers suites for buddy groups and couples.  They offer several golf packages including ”The Ultimate Golf /Spa Escape” which includes accommodations, one round of golf per day for 2 or choice of one selected spa service per person, daily breakfast for 2, unlimited use of our health club facility, free sleeve of Titleist golf balls(not enough for me) and a complimentary beverage in XO Lounge(same).  View all of their packages here>

The Oceanfront Westin Resort in Port Royal

This resort offers several different “Stay and Play” golf packages.  The Barony, Planters Row and Robbers Row are all located in the community and are offered in the stay and play packages.  I liked the Play The Tour Packages – Packages for One or Two People with its choice of over 18 participating golf courses.  This resort offers a world class spa, restaurants and a fitness center.  View all of their golf packages here>

Sea Pines Resort

Sea Pines offers villas, rental homes and the Inn at Harbourtown combined with their golf packages.  The local golf courses in this community include Heron Pointe by Pete Dye, The Ocean Course and Harbourtown Links.  One package I found interesting was the “Enjoy three complimentary nights in a one-bedroom, one-bathroom villa at The Sea Pines Resort” now through March, 7 2010. View all of their golf packages here>

Crowne Plaza in Shipyard

This oceanfront hotel offers accomodations for buddy groups and couples.  Their program allows you to book your hotel, select your preferred course and call the course directly to schedule your tee time.  View their golf packages here>

Golf on Hilton Head Island

If you have a place to stay and wish to contact the golf courses yourself to book a tee time or gather more information please visit here>.  If while visiting you would like to preview some of the best properties with bottom pricing, please visit here>.  By the way, we have many property owners with villas and homes that rent their propeties direct, please visit here>.  Let us know if you need anything to make your golf trip great, simply email us at robbie@robbiebunting.com.  Thank you.