Good Morning!

Here's hoping you had a great weekend!

Below you'll find the market pulse reflecting last week's activity. Last week saw a drop in all categories except successfully closed properties, which rose by 19% from the week prior.

Chip is going to Orlando for a 4-day real estate conference, starting this Wednesday. Available exclusively through out Star Power affiliation, the conference provides us with the cutting edge marketing and service models that are working for other top-producing agents/teams/companies throughout the US & Canada. As a great “plus” this year, two of our top buyer-specialists (Ann Eden and Joan Weaver) as well as our new Office Manager (Ollie Wingfield) will also be attending the conference, maximizing the depth of ideas and innovations that we can bring home and put to work on your behalf.

In mortgage news, last week was a wild week for interest rates and the entire financial sector. News that Indy Mac had been taken over by Federal Regulators fueled speculation that several other banks were on the verge of collapse. At the same time Fannie Mae was in the news with it's own problems. Seeing as "bad" news is good for mortgage rates, 30 year fixed rates improved from 6.375% to 6.25% amid all of negative press.

However, on Wednesday Wells Fargo came out with better than expected 2nd quarter results which started a rally in the stock market and pushed 30 year rates up to 6.75%. This the biggest three day increase we have seen in several months. Expect rates to drop a little next week, however they may still climb steadily as a result of inflationary pressures and lack of buyers for mortgage backed securities.(Thanks to Matt Webster at Wachovia for this update!)
Enjoy these latest numbers and have a great week!

Below is the MLS report for all listings on Hilton Head Island and Bluffton for the week of July 19, 2008. Please review the following and let us know if you have any questions on the statistics.

Active (New listings): 160 (Down 11% from last week)
Homes: 95
Villa: 23
Lots: 42

Pending (Accepted contracts, but not yet closed): 44 (Down 40% from last week)
Homes: 31
Villa: 8
Lots: 5

Sold (Closed contracts): 61 (Up 19% from last week)
Homes: 43
Villa: 11
Lots: 7

Price Reductions: 241 (Down 3%% from last week)
Homes: 153
Villa: 47
Lots: 41

Good Morning!

Here's hoping you had a great weekend!

Below you'll find the market pulse reflecting last week's activity. The increased activity on the Island due to the Independence Day holiday parlayed into a nearly across the board spike in activity with the number of new properties going under contract increasing nearly 50%! Hopefully this great trend will continue through Labor Day!

In mortgage news, bond prices rose and interest rates dropped last week amid fears that Fannie Mae and Freddy Mac could possibly collapse. Speculation diminished on Friday as government officials assured the market that the mortgage giants are properly capitalized and that a government intervention will not be needed. Rates started off the week at 6.375% and dropped to 6.25%, but then returned to 6.375%. (Thanks to Matt Webster at Wachovia for this update!)

Enjoy these latest numbers and have a great week!
Below is the MLS report for all listings on Hilton Head Island and Bluffton for the week of July 12, 2008. Please review the following and let us know if you have any questions on the statistics.

Active (New listings): 179 (Up 32% from last week)
Homes: 113
Villa: 28
Lots: 38

Pending (Accepted contracts, but not yet closed): 74 (Up 48% from last week)
Homes: 38
Villa: 21
Lots: 15

Sold (Closed contracts): 51 (Down 27% from last week)
Homes: 29
Villa: 17
Lots: 5

Price Reductions: 250 (Up 187% from last week)
Homes: 144
Villa: 64
Lots: 42

Good Afternoon!

Here's hoping you had a great holiday weekend!!

Below you'll find the market pulse reflecting last week's activity. The short holiday week saw a drop in new inventory, pending properties and price reductions. We did, however, see a huge spike in successfully closed properties! With the influx of tourists on Island this week, we hope to see an increase in activity across the board.

Enjoy these latest numbers and have a great week!

Below is the MLS report for all listings on Hilton Head Island and Bluffton for the week of July 5, 2008. Please review the following and let us know if you have any questions on the statistics.

Active (New listings): 135 (Down 21% from last week)
Homes: 79
Villa: 30
Lots: 26

Pending (Accepted contracts, but not yet closed): 50 (Down 15% from last week)
Homes: 27
Villa: 15
Lots: 8

Sold (Closed contracts):49 (Up 54% from last week)
Homes: 49
Villa: 17
Lots: 4

Price Reductions: 211 (Down 7% from last week)
Homes: 135
Villa: 52
Lots: 24

Good Morning!

Here's hoping you had a great weekend!

Below you'll find the market pulse reflecting last week's activity. The market continues to fluctuate from week to week and we saw a slight drop in all categories last week. Hopefully we will see these numbers improve over the next week as tourist activity picks up due to the holiday weekend.

In mortgage news: 30 year mortgage rates remained steady at 6.375% with no points or origination fees, while 5 year adjustable rates saw some improvement. Rates on jumbo 5 year notes dropped to 6.5% from 6.75% and the conforming 5 year rate dropped to 6.25% from 6.5%. (Thanks to Matt Webster at Wachovia for this mortgage update!)

Enjoy these latest numbers, have a great week, and have a happy and safe Independence Day!

Below is the MLS report for all listings on Hilton Head Island and Bluffton for the week of June 27, 2008. Please review the following and let us know if you have any questions on the statistics.
Active (New listings): 172 (Down 7% from last week)
Homes: 103
Villa: 39
Lots: 30

Pending (Accepted contracts, but not yet closed): 59 (Down 15% from last week)
Homes: 38
Villa: 17
Lots: 4

Sold (Closed contracts):48 (Down 2% from last week)
Homes: 36
Villa: 10
Lots: 2

Price Reductions: 228 (Down 14% from last week)
Homes: 146
Villa: 50
Lots: 32

Good Morning!

Here's hoping you had a great weekend!

Below you'll find the market pulse reflecting last week's activity. After a slow week prior, the market rebounded nicely with a 32% increase in the number of pending properties and a nearly 50% increase in properties reaching a successful closing! We also saw a 7% drop in new properties entering the market over the past seven days.

In mortgage news: Rates improved slightly last week from 6.5% to 6.375% for 30-year fixed; jumbo fixed rates ended the week 7.625% also an improvement!. Rates on 5 year jumbo ARMs remained about the same at 6.75%. (Thanks to Matt Webster at Wachovia for this mortgage update!)

Enjoy these latest numbers and have a great week!

Below is the MLS report for all listings on Hilton Head Island and Bluffton for the week of June 21, 2008. Please review the following and let us know if you have any questions on the statistics.

Active (New listings): 186 (Down 7% from last week)
Homes: 109
Villa: 32
Lots: 45

Pending (Accepted contracts, but not yet closed): 70 (Up 32% from last week)
Homes: 40
Villa: 10
Lots: 20

Sold (Closed contracts):49 (Up 48% from last week)
Homes: 35
Villa: 11
Lots: 3

Price Reductions: 267 (Up 21% from last week)
Homes: 139
Villa: 90
Lots: 38

Hilton Head Island, SC – June 16, 2008. Collins Group Realty, a top producing real estate company on Hilton Head Island, announces the addition of new hire Ollie Wingfield.

Wingfield, who will be assuming the office manager position, is a 2006 graduate of the University of Georgia and interned with the company in 2005. He comes to the company with a bachelor’s degree in communications after a foray in business development and public relations.

“We are excited about having Ollie return to Collins Group Realty in a full-time team position,” says owner and broker-in-charge Chip Collins. “He proved his metal to us in a summer internship 3 years ago, and his zeal for the real estate industry and Hilton Head Island clearly took root then and has grown exponentially ever since.”

Collins Group Realty is a leading real estate firm located on beautiful Hilton Head Island in South Carolina’s Low Country. The firm specializes in residential real estate sales of homes, villas and homesites in the Hilton Head Island and Bluffton micropolitan area.

For more information regarding Collins Group Realty please contact Chip Collins at 800-823-7516, Info@CollinsGroupRealty.com, or visit www.CollinsGroupRealty.com.

Good Morning!

Here's hoping you had a great weekend and a belated Happy Father's Day to all you dads out there!

Below you'll find the market pulse reflecting last week's activity.

As you'll see, after a strong week for pending sales and sold properties both categories experienced a bit of a drop off last week with the number of pending properties falling 30% and the number of closings droping 54% to 33. We did, however see a noticeable increase in new listings with a 32% new properties entering the market. While perhaps not entirely “volatile”, it is clear that our local real estate market is still tentative – with good weeks and bad weeks. Pricing continues to be one of the most critical components for properties to get attention and offers…especially as additional inventory comes onto the market for buyers to consider…

In mortgage news: Despite starting the week at 6.25%, mortgage rates on 30 year fixed notes rose to 6.5%. The CPI, or consumer price index, released Friday reflected an increase in inflation for the month of May. The increase is largely due to high gas prices which translates into higher prices for almost all goods and services. Higher inflation means higher mortgage rates and it could trigger the Federal Reserve to begin raising the Fed Funds rate. (Thanks to Matt Webster at Wachovia for this mortgage update!)

Enjoy these latest numbers and have a great week!

Below is the MLS report for all listings on Hilton Head Island and Bluffton for the week of June 14, 2008. Please review the following and let us know if you have any questions on the statistics.

Active (New listings): 202 (Up 32% change from last week)
Homes: 123
Villa: 34
Lots: 45

Pending (Accepted contracts, but not yet closed): 53 (Down 30% from last week)
Homes: 34
Villa: 18
Lots: 1

Sold (Closed contracts):33 (Down 54% from last week)
Homes: 23
Villa: 5
Lots: 5

Price Reductions: 220 (Down 1% from last week)
Homes: 146
Villa: 48
Lots: 26