Hilton Head Real Estate

REALTOR� Magazine-Daily News-Mortgage Rates Hit Near Record Lows.

REALTOR� Magazine-Daily News-Shadow Inventory Unlikely to Hurt Market.

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 .

Get a free credit report today!

Now is an incredible time for you to purchase a new property or look at refinancing your current property. To be sure you do not miss out on this opportunity Mortgage Network is offering a free credit report with every consultation.

All credit reports are not the same!

It is important to note that while credit reports are available online, the scores do not accurately reflect your score when being considered for mortgage purposes. Liabilities are weighted differently when the report is done for mortgage purposes rather than informational purposes. Our report will give you immediate insight into the interest rates and terms that are available based on your score.

All you need is the attached form and we will issue a report immediately. This is a $30 value.  Simply print the form and fax back to 843-785-6404 to the attention of David Crowell.

Looking forward to an exciting 2010!

David Crowell
Senior Loan Officer
Mortgage Network, Inc.

dcrowell@mortgagenetwork.com
1000 William Hilton Parkway
Suite 205
Hilton Head Island, SC 29928
Office: 843-842-4004
Fax: 843-785-6404

Staging or furnishing deadlines!

The days of no interest, no payments will soon be gone at Rooms to Go.  If you want either Vacant Home Staging or just some additional pieces of furniture and not make a payment on until 2012 please let Kalyani know ASAP. The last day to be able to order is 2/15/10! I’d need to have everything ready to be ordered by then.
 
Kalyani Persons
Home Staging In Paradise
www.HomeStagingInParadise.com
Kalyani@HomeStagingInParadise.com
843/815-4412

Are you making a move on Hilton Head Island?

Deadlines are rapidly approaching for Tax Credits for first time home buyers and home sellers considering moving up.  The Worker, Homeownership, and Business Assistance Act of 2009’s tax credit of up to $6,500 for qualified move-up home buyers ends April 30, 2010. You can purchase by June 30, 2010 but must have a binding sales contract signed by April 30, 2010.  The first time buyers tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence also ends April 30, 2010. A purchase completed by June 30, 2010 (with a binding sales contract signed by April 30, 2010) may qualify.

Historically low interest rates, historically low housing prices in most areas and great values in the move up home market make this the perfect time to act. Call me for a free consultation to run the numbers for you. Don’t miss out on the great values!

Looking for an FHA loan on Hilton Head?

There is a strong indication that loans handled by FHA Mortgages, will be changing in the near future. These FHA backed mortgage programs are going to be adjusted or even overhauled.  These changes, depending what the changes are, will most likely influence the real estate market as a whole. 

During the real estate boom the use of FHA mortgages dropped to around 2% of the loans.  That figure has shot up to 25% and even higher in some markets.  Any substantial changes to FHA lending requirements could affect in some cases, the most active segment in many real estate markets. 

Congress is pressing on FHA to tighten the standards toward borrowers.  The options on what they will do to tighten these standards are broad and could include increasing FICO scores, require more amount of the down payment and reducing Seller contributions to closing costs

All these have been expressed and are being explored and if you are a buyer that needs an FHA loan, the time to act is now!  Don’t take a chance on time…email us today at robbie@robbiebunting.com or call us toll free at m1-800-932-3652 to get your foot in the door now!

If you are planning on making a great dinner at home, stop and visit Barnacle Bills Seafood mid Island on Highway 278 (next to the old log cabin gas station).  Bill’s is a landmark and tradition on the Island with his seafood stand and his great attitude.   Not only will he entertain you, he will also help you select the freshest of seafood.  He specializes in locally caught seafood including Tuna, Snapper and other catchesof the day(he gets three deliveries daily so you can be assured it is fresh).  He told me he does not just verbalize how fresh it is, he helps others visualize what to look for when buying seafood.   Below is a note from Bill and to the left is a recipe for boiling shrimp….his secret is to move it off the heat as soon as he puts the shrimp in! 

Barnacle Bill’s…for All Who are Fond of a Blissful Experience

With 30 years of promoting and marketing fresh seafood on Hilton Head Island times have changed.  One of the few things that has remained consistent is the freshness and variety at Barnacle Bill’s.  With fresh deliveries arriving 3 times per day, the customer is assured of top quality and high shelf life.  When the customers arrive, the experience is not verbal but visual.  The senses assume control and the questions are answered.  Come visit, relax, experience the difference.  Enjoy the live music and free refreshments.  We have the prices and atmosphere that will make you smile.

Thank you,

Barnacle Bill

Oh, I just remembered… All real estate agents, bank personnel and lawyers recieve a 20% discount on orders made in February!  Bring your real estate agent with you to get this discount!

According to our experts, here is what to expect in 2010!

Inventory levels are now dropping on Hilton Head Island!

According to our recent market research, we have now turned a corner in the real estate market on Hilton Head Island!  We have seen a significant drop in supply in just the last month(over 10%!).

Inventories are dropping!  (Hilton Head Multiple Listing Service)

Type                  Nov 2009           Dec 2009          Jan 2010

Homes              2,422                    2,366                  2,174

Villas                1,156                     1,123                   1,014

Lots                  1,680                     1,646                   1,492

As inventory levels drop, by mid summer we should see less days on the market and less negotiability.  If you want a great property at a great price the sooner you make your move the better your chances to find!  One final thought…if you are a buyer, be sure to wire escrow deposits, as they now take up to 10 days to clear many of the banks today.  (If you have questions about real estate or the information above you can contact us directly at (843)842-0805 or by e-mail at robbie@robbiebunting.com)

Interest Rates have bottomed out according to our lender!

We are expecting rates to remain near the all time lows for the next few months, and then rising gently through the year.   The Federal Government has been financially supporting the low rates, and will continue to do so until the housing market is clearly in recovery. Our prediction by year end: Fixed rates will still be in the high 5’s/ low 6’s , adjustable  rates  in the 5’s, and jumbo mortgages will be in the high 5’s…..in other words, an overall increase of ¾%.   Buyers beware: 2010 is the low, and you really need to pull the trigger for the best rates this year. 

(If you have questions about loans or the information above you can contact David Crowell directly at (843)842-4004 or by email at dcrowell@mortgagenetwork.com)

Demand continues according to our long term rental agent!

Long term rental demand starts traditionally in March and lasts through September as a general rule.  The length of time it takes to rent a property is approximately 2 months, but it can vary, as a rental home that is rental ready, light, bright and updated will rent quicker. Furnished homes usually appeal to snow birds or people with a temporary need and usually take longer to rent. Unfurnished homes are the bulk of the long term rental market, as most people have their own furnishings.

We feel the long term rental market will be good for 2010, as there is shortage of available homes under 2,400 sq. ft. We think it is a good time for people to buy, as prices and interest rates are low and the supply for available long term rentals is low. 

(If you have questions about long term rentals or the information above you can contact Keith Miller at (843)682-4310 or via e-mail at Keith@millerlongterm.com )

Give yourself time in the closing process per our attorney!

Patience is the key for those involved in seeking either to sell or those who may be purchasing at somewhat of a bargain-basement price.  Cary Griffin indicated that 2010 will likely be full of attempted sales by sellers under duress, or “short sales”, as well as sales by lenders who have already foreclosed or taken back the property in one fashion or another.  These types of transactions tend to be bureaucratic and slow moving, but there are benefits if they are successfully completed.   Hence, both parties should expect a longer time period between contract and closing. 

From the buyer’s perspective, obviously interest rates are a key focal point.  Also, consider the fact that as of now, in 2010, there is no federal estate tax.  Therefore, buyers should consult with their estate planning advisors as to how to take title to a new primary residence or a second home as the federal estate tax documents come back to life in 2011 with higher rates and lower exception amounts than existed in 2009.  “Stay tuned” is the best advice here.

(If you have questions about contracts/closings or the information above please contact Cary Griffin at (843)785-2171 or cgriffin@mcnair.com )

Get in front of the line and build/remodel before everyone else!

2010 is starting off with great promise. There are several factors driving a stronger building market in 2010. Homeowners are seeing that the economy is on a rebound and see prices only going up from here. The timing today offers the advantage of lower costs for both construction and prime locations(tear downs are once again in favor!) 

Construction costs will start to climb in the latter part of the year as demand increases. As always, make sure that your builder/contractor uses the right quality materials for the desired end product. As consumers are looking for the very lowest price, hungry contractors might sacrifice the quality of the material to get the price that the homeowner wants. In some instances, this may not be bad – in others, it could be a problem. Communicate with your contractor to insure that you get what you want.

Overall, construction costs are currently lower than the past few years, however, as the building market continues its long and steady re-growth, costs to build will increase accordingly. Don’t wait, start building now! 

(If you have questions about building/remodeling or the information above, please contact Scott Bunting at (843)384-7468 or e-mail SBunting@buntingcompany.com)

Buy now and get ready for busy summer rental season!

This past year was very promising as we exceeded our goals in the rental market for 2009. This is the time of year where property owners are doing all the upgrades and renovations getting ready for the busy rental season ahead.  This is also the time of year where any owners wishing to change rental companies or join a rental company usually make those choices so that there is minimal loss of potential revenue. We have been booking rentals thru the winter and already have a high demand for properties during the march thru September months as our bookings are up 75% over last year. We are booking for the summer now and things are filling in very nicely. We are currently still taking Ocean View/Front properties, Near Ocean and some golf locations. We are also, in need of 4 bedroom or larger homes on the ocean or Near Ocean. We are running special packages for Palmetto Dunes for 2010 that are sure to keep everyone back for more. 

(If you have questions about short term rentals or the information above, please contact Mark Shackelford at (843)686-9638 or e-mail at mshackelford@palmettodunes.com )

Can you see the bottom from where you are standing?

We would love to hear from you what you are seeing from where you are standing in the current market.  Please e-mail us robbie@robbiebunting.com.  Thank you!

What to do about Wind and Hail Insurance?

As the weather turns toward spring, we find a lot of conversation from homeowners concerning Wind and Hail insurance coverage.  Some homeowners policies are written with the wind/hail coverage included within the policy or more often for properties on the Island the wind coverage is written as a separate policy issued by the South Carolina Wind Hail Underwriting Association (SCWHUA or Wind Pool).

SCWHUA is not inferior coverage.

Back in the 1970’s, the South Carolina Legislature essentially ordered the formation of the SCWUA when it required the insurance industry to make available wind and hail insurance to homes and businesses located along the beach areas.  This residual market was necessary because the coverage was not available or affordable for many properties close to the coastline.  The Wind Pool has served a great benefit to many who live in the beach region.   All property and casualty insurance companies conducting business in the State are required to participate in funding the program and share in any losses or profits.

Want to save some money on you wind and hail insurance? 

Consider raising the deductible! The wind coverage contains a deductible clause that is based on a percentage of the amount of insurance.  Options include 3%, 4%, 5% and 10%.  The premium savings are substantial and you have the benefit of a lower deductible should a loss occur from a non-named storm.  In other words, covered losses not arising out of a named storm carry only a 1% deductible of the limit on the policy, not the higher deductible listed for a named hurricane or tropical storm.   

One final thought from our Insurance Expert. 

Remember if you want replacement cost coverage for your home from the SCWHUA, you must have flood insurance in force at the time of loss.

Please contact:
Jeff Althoff, Agent
Beaufort County Farm Bureau
PO Box 4488
281 Parris Island Gateway
Beaufort, SC 29903
Ph:   843-522-0031 Ext. 234
Cell: 843-812-2921
Fax: 843-522-0785
jeffalthoff@scfbins.com

Here is a great formula that helps your local community stay local and it is not too difficult.  When was the last time you visited a local studio, attended a gallery hop or spent $50 in a local market or shop.  These shops are the backbone to our tourism industry.  So attend the gallery hop or this weekend enjoy the local shops.  You will make a difference.

Have you heard about the 3/50 Project? 

An amazingly easy formula designed to save the brick and mortar our nation is built on.
 
Here’s how it works:

3:

Pick three locally-owned businesses you’d hate to see disappear, and visit them. Pick up a little something that makes you happy.  You are keeping the shop in business today.

50:

Commit $50 each month to supporting locally-owned businesses, shops or restaurants.  If half of the employed in the US would do that, we’d generate more than $42 billion each year for our local entrepreneurs.

68:

With each $100 we spend in locally-owned businesses, $68 stays within our community.  Big box stores? Only $43.  Internet shopping?  You guessed it… nada. 

It’s that simple.

All companies are not the same on Hilton Head Island. 

Many of the boutique real estate companies are listing companies and not selling companies.  Their company profile is typically 25% sales, 75% listings.  Right now these companies are having difficult times because they carry a lot of inventory.  They typically do not have the ability or people to sell their own inventory and rely on the MLS.  My company and our production is closer to 50/50 with a strong focus on selling.  In fact, that is how we personally finished up 2009.

All salespeople are not the same on Hilton Head Island. 

No one within or outside of our company can provide you a higher level of service, better market exposure and better results than Jane and I.  We are focused, we are positive and we can get agents to make a move.  We also email all agents weekly on your property and push them to stay focused and make a sale (sometimes these agents need a boost to get the job done).

Jane Hyers and Robbie Bunting offer you the following advantages:
• Magnificent Communication
• True Focus
• Better Exposure/Marketing
• Great systems and work philosophies
• Results

The benefits to you include:
• More agents in your villa
• More Potential Buyers
• Shorter Days on the Market
• Faster adjustments to meet market changes

Our unique relationship works  in this changing market. 

We know what we want and we work our very best to achieve it.  I personally have been selling real estate for 25 years with Dunes Marketing Group.  Jane Hyers worked for the Hilton Head MLS for 3 years before we started working together 5 years ago.   We know the agents very well, we know the Island and we know real estate.  Our relationship with Island Realtors is better and we are always pushing ourselves to become better.  We want to create raving fans by helping our buyers and sellers succeed by providing exceptional service.  We look forward to your inquiries.