Archives

Tuesday, May 27, 2008

Weekly Market Pulse for the Week Ending May 24, 2008

Good Morning!

Here's hoping you had a great Memorial Day weekend!!

Below you'll find the market pulse reflecting last week's activity. As you'll see we saw a slight increase in the number of properties going under contract. With the tourist season officially underway on Hilton Head Island we expect to see the pending properties continue to increase on a weekly basis!

In mortgage news: Mortgage rates ended last week at 5.875%, a zero change from the beginning of the week. There was a slight decrease mid week to 5.75%, but increased back to 5.875% on Thursday after a stronger than expected unemployment report. Jumbo 30 year rates are currently at 7.125% while 5 year conforming loans are at 5.5% and jumbo 5 year notes are at 6.125%. (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 May 24, 2008. Please review the following and let us know if you have any questions on the statistics.

Active (New listings): 147 (Down 10% from last week)
Homes: 92
Villa: 23
Lots: 32

Pending (Accepted contracts, but not yet closed): 58 (Up 1% from last week)
Homes: 39
Villa: 15
Lots: 4

Sold (Closed contracts):48 (Down 4% from last week)
Homes: 31
Villa: 10
Lots: 7

Price Reductions: 227 (Down 7% from last week)
Homes: 126
Villa: 43
Lots: 58

posted by Chip Collins at Tuesday, May 27, 2008 0 Comments

Friday, May 23, 2008

Grilling Tip for Memorial Day

With Memorial Day and the unofficial kick off to summer right around the corner, its time to fire up the grill! Always a popular summer activity, a full 31% of Americans say they are grilling more now than they did a year ago in an effort to eat healthier. Whether you’re a grilling aficionado or a novice, here are some tips to help you kick of the 2008 season…

1. Skip the meat and grill some veggies! Vegetables make excellent choices for grilling because the high heat brings out a surprisingly sweet and smoky flavor. Not sure what to try? Potatoes, carrots, onions, zucchini, and bell pepper are all great on the grill.

2. Hungry for something sweet, but watching your waistline? Try grilling some fresh fruit. Grilled bananas and pineapple are especially decadent.

3. Grilled fish is incredibly healthy, but can be messy to prepare. Try placing the fillet on a sheet of aluminum foil with herbs and a slice of lemon. Be sure to fold the foil into a packet to keep the fish moist.

posted by Chip Collins at Friday, May 23, 2008 0 Comments

Monday, May 12, 2008

Weekly Market Pulse for the Week Ending May 10, 2008

Good Morning!

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

As you'll see below we saw a 25% decrease in new listings last week and a small increase in the number of properties that have gone under contract. This is the second week in a row that we've see an increase in the number of pending properties!

Below is the MLS report for all listings on Hilton Head Island and Bluffton for the week of May 10, 2008.
Please review the following and let us know if you have any questions on the statistics.

Active (New listings): 146 (Down 25% from last week)
Homes: 99
Villa: 24
Lots: 23

Pending (Accepted contracts, but not yet closed): 68 (Up 4% from last week)
Homes: 48
Villa: 17
Lots: 3

Sold (Closed contracts):66 (Down .2% from last week)
Homes: 50
Villa: 14
Lots: 2

Price Reductions: 227 (Down 20% from last week)
Homes: 142
Villa: 48
Lots: 37

posted by Chip Collins at Monday, May 12, 2008 0 Comments

Friday, May 9, 2008

Mortgage Update

Thanks to Matt Webster at Wachovia for this great update:

This week saw some improvement in mortgage rates. Currently our 30 year fixed rate is 5.75% with no points or origination fees. We started off the week at 5.875%. We also saw some improvement in our jumbo rates. Currently our 5 year adjustable is 6% with no points and our 30 year fixed jumbo rate is 7%.

posted by Chip Collins at Friday, May 09, 2008 0 Comments

Wednesday, May 7, 2008

Great Family Event this Weekend!

If you're looking for a fun, family event to attend this weekend in Bluffton be sure to check out the 30th Annual Bluffton Village Festival. Held on Calhoun Street in Old Town 9AM -3PM this Saturday May10th, the event features fine art, crafts, plants, the Ugly Dog Contest, delicious food, live entertainment, boat tours and other family fun. Free admission.

posted by Chip Collins at Wednesday, May 07, 2008 0 Comments

Monday, May 5, 2008

Weekly Market Pulse for the Week Ending May 3, 2008

Good Morning!

Here's hoping you had a great weekend!

As you'll see below, market activity rebounded nicely after a particularly slow week prior. We saw a 22% increase in newly accepted contracts and a 61% increase in sold properties! Let's hope this fantastic trend continues!!

In mortgage news: 30 year fixed rates started off last week at 5.875% with no origination fee. Mid week we saw a drop to 5.75%, but that was short lived as the economy showed an unexpected sign of resilience when the jobs report reflected a slow down in job losses. This was an encouraging sign that the economic down turn may not be as pronounced as some had feared. The jobs report caused a sell off in the bond market which pushed the rates back up to 5.875%. (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 May 3, 2008. Please review the following and let us know if you have any questions on the statistics.

Active (New listings): 195 (Up 3% from last week)
Homes: 116
Villa: 39
Lots: 40

Pending (Accepted contracts, but not yet closed): 65 (Up 22% from last week)
Homes: 46
Villa: 11
Lots: 8

Sold (Closed contracts):68 (Up 61% from last week)
Homes: 45
Villa: 16
Lots: 7

Price Reductions: 287 (Up 4% from last week)
Homes: 165
Villa: 70
Lots: 52

posted by Chip Collins at Monday, May 05, 2008 0 Comments

Friday, May 2, 2008

Great HHI Article!

Here's a great article on Hilton Head Island that was recently featured in the print and online versions of USA Today. Enjoy and have a great weekend!

http://www.usatoday.com/money/economy/housing/2008-04-24-second-homes_N.htm

posted by Chip Collins at Friday, May 02, 2008 0 Comments