Here's hoping you had a great weekend!

Below you will find the market pulse reflecting last week's activity. Tourist activity has definitely started to pick up in the Low Country! As a result, pending properties increased by nearly 25% last week and the number of showings has been steadily increasing. This, coupled with the great low interest rates on 30-yr fixed mortgages, is great news with Heritage right around the corner!

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 March 23, 2008. Please review the following and let us know if you have any questions on the statistics.

Active (New listings): 213 (Down 4% from last week)
Homes: 116
Villa: 42
Lots: 55

Pending (Accepted contracts, but not yet closed): 62 (Up 24% from last week)
Homes: 42
Villa: 13
Lots: 7

Sold (Closed contracts): 42 (Down 16% from last week)
Homes: 33
Villa: 4
Lots: 5

Price Reductions: 190 (Down 29% from last week)
Homes: 117
Villa: 35
Lots: 38

Great news for the upcoming weekend!

Rates on 30-year mortgages edged down slightly this week, staying below 6% at 5.85%. This is second straight week rates have fallen and the second week that they have stayed below 6%. This, coupled with word that demand for mortgages jumped 50% last week and February home sales saw their biggest jump in over a year, is fantastic news and we are increasingly hopeful that it will prove to be a trend.

Despite the negative news you’ve probably read in the papers and online, now is a terrific time to buy real estate. Here’s why…

1. Outstanding Selection. At the time of this writing there were 947 single family homes on the Hilton Head Island market ranging in price from $184,900 to $13,900,000 and 1127 villas ranging from $60,000 to $2,700,000. This phenomenal selection means that there truly is something for every taste and budget!
2. No Bidding Wars! No competitive bidding levels the playing field between buyers and the days of bidding up properties substantially from the original listing price are gone.
3. You Can Make an Offer. A few years ago when you made an offer, the only question was how high above the list price were you willing to go? In today’s market, sellers welcome all offers and won’t be insulted if you offer less than the asking price. This allows buyers to get more bang for their buck.
4. Patience is Tolerated. In the hot seller’s market of ’05 buyers were rushed to make a decision. Today, buyers have the luxury of looking at numerous homes and taking a few days to make a truly informed decision.
5. Due Diligence is Welcomed. Buyers are encouraged to execute their contractual right to obtain a home inspection, termite inspection and appraisal. Gone are the days when buyers felt pressured to waive these rights in order to gain the upper hand in negotiations.
6. No Waiting List for New Homes. If you recently purchased a new home or lot you probably remember the lotteries and waiting lists imposed by developers to manage their supply and demand issues. Now, buyers have the luxury of choosing from a multitude of spec homes, custom construction and premium lots instead of deciding between one or two properties.
7. Repair Requests are Welcomed. Previously, many sellers tried to insist the property was sold ‘as is’. Now, the majority of sellers are willing to complete repairs in order to make the sale happen.
8. Fewer Investors. It is estimated that one-third of all sales in 2005 were to investors. These non-owner occupied sales caused the market to inflate and affordability to decline. Less investors in the market is great news for owner-occupied buyers.
9. Location, Location, Location! Today’s market means working families are able to seriously consider Hilton Head as an option for their primary residence. In the past, prices had pushed many younger buyers off Island to Bluffton and Jasper County. Now, many buyers are able to live and work on Hilton Head.
10.Real Financing is Available. Banks are shying away from the zero down, no doc, adjustable rate, sub-prime loans that were all the rage a short time ago. Now, traditional fixed rate mortgages are back and both buyers and sellers can trust that financing won’t fall through at the last minute and ruin the sale.

Good Morning!
Here's hoping you had a wonderful and relaxing Easter weekend!
Below you will find the market pulse reflecting last week's activity. The start of spring break brought an increased number of showings over the past weekend, and hopefully this and the new lower interest rates will translate into an increase in the 'Pending" category for next week!
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 March 16, 2008. Please review the following and let us know if you have any questions on the statistics.
Active (New listings): 223 (Up 2% from last week)
Homes: 120
Villa: 55
Lots: 48

Pending (Accepted contracts, but not yet closed): 50 (Down 10% change from last week)
Homes: 34
Villa: 11
Lots: 5

Sold (Closed contracts): 50 (Up 28% from last week)
Homes: 42
Villa: 3
Lots: 5

Price Reductions: 270 (Up 35% from last week)
Homes: 170
Villa: 53
Lots: 47

The developer of Rose Dhu Creek Plantation recently announced some great incentives on their much sought after lots. For a limited time, qualified buyers can choose between 100% financing with an additional $15,000 discount off the listed price of the lot, or 90% financing and the developer pays your interest payments for one year! For more information on this terrific incentive and to learn more about available lot inventory, please call our office at 800-823-7516.

For the past few months it seems as if we’ve all been bombarded with negative news relating to the real estate market. Even the esteemed Wall Street Journal hasn’t been able to avoid reporting discouraging news, as seen in their February 27, 2008 article “Decline in Home Prices Accelerates.” According to the article, national home prices declined at an accelerated rate in the 4th quarter of 2007, compared with a year earlier. The article states, “The S&P/Case-Shiller national home-price index for the fourth quarter [2007] fell 8.8% from a year earlier, the largest drop in its 20 years of data.”
With all of this negative news floating around, you’re no doubt wondering how the highly desired Hilton Head Island market stacks up compared to these national numbers. Great news!! In contrast to this reported national trend, the average price of Hilton Head Island homes sold in the 4th quarter of 2007 increased 11% over the year earlier! Furthermore, the number new sales during the 4th quarter of 2007 rose 25% over the year earlier.
This is great news and with the best inventory available in recent years, it’s the perfect time to purchase property on Hilton Head Island.

Good Morning!
Happy St. Patrick's Day! Here's wishing you a bit o' luck 'o the Irish!
Below you will find the market pulse reflecting last week's activity. The number of properties going under contract continues to waver from week to week - one week up, one week down and this week there was no change. With the warm weather fast approaching and tourist season right around the corner, we hope to see the number of pending properties begin to rise steadily.
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 March 9, 2008. Please review the following and let us know if you have any questions on the statistics.
Active (New listings): 218 (Up 2% from last week)
Homes: 129
Villa: 41
Lots: 48

Pending (Accepted contracts, but not yet closed): 56 (0% change from last week)
Homes: 33
Villa: 15
Lots: 8

Sold (Closed contracts): 39 (Down 20% from last week)
Homes: 25
Villa: 12
Lots: 2

Price Reductions: 199 (Up 20% from last week)
Homes: 125
Villa: 44
Lots: 30

Everyone wants to buy at the bottom of a market and sell at the top – it’s only natural. The problem, however, is that we’ve never met anyone who knowingly-at-the-time did either. Why? Simple: Because you don’t know it’s the absolute bottom until you start to see the market picking up, at which time the bottom has already passed – and the same thing for the top. So, the best that anyone can do is buy “near” the bottom and sell “near” the top, and it seems quite clear to us that we are hanging out right now “near” the bottom. And something else is clear to us as well – once the market lets loose and picks up strong momentum, it will grow very quickly. Why? Because the level of interest in real estate remains as strong as ever, and once sellers sell, they become buyers. We have seen this exhibited recently where we see back-to-back sales – one property goes under contract with that seller immediately turning around and buying something else. Wham! 2 connected sales, and the dominos begin to fall. If you are planning to be in the market as a buyer, make sure you let us know what interests you so we can be immediately on top of your goals – because when we know the bottom has passed, the absolutely “best-buy” opportunity may already be gone.

While we are certainly biased by our having chosen to call Hilton Head “home,” it seems that we are not at all alone in acknowledging that Hilton Head Island is one of the most special places to live in the US. Aside from the mild, semi-tropical climate, Hilton Head has emerged as a dynamic community filled with friendly people who love taking advantage of the natural beauty and amenities that make Hilton Head so unique. From the arts to community organizations to year-round outdoor activities, it seems that Hilton Head has the uncanny ability to accommodate and satisfy the needs and goals of singles, young families and retirees alike. Long-since strictly a quiet golf-based retirement area, Hilton Head is robust with a vast array of business and industry, including national-companies, local success stories, small businesses and so much more. This speaks to what we love most about working in the real estate market – the privilege that we have to help so many clients realize their dream of enjoying a terrific lifestyle here on HHI!

Good Morning!

Below you will find the market pulse reflecting last week's activity. After experiencing a slight drop over the previous week, the market rebounded nicely last week and we saw a nearly 25% increase in new sales! We also saw a nice increase in properties reaching a successful closing.
Enjoy these latest numbers and have a great week!

Below is the MLS report for all listings on Hilton Head Island and Bluffton for March 3, 2008 through March 7, 2008. Please review the following and let us know if you have any questions on the statistics.

Active (New listings): 213 (Down .4% from last week)
Homes: 131
Villa: 36
Lots: 46

Pending (Accepted contracts, but not yet closed): 56 (Up 25% from last week)
Homes: 46
Villa: 8
Lots: 2

Sold (Closed contracts): 49 (Up 11% from last week)
Homes: 38
Villa: 7
Lots: 4

Price Reductions: 165 (Up 1% from last week)
Homes: 107
Villa: 37
Lots: 21