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

Good Morning!

Here's hoping you had a great weekend!

Below you'll find the market pulse reflecting last week's activity. With the school year winding down and the summer vacation season underway, we saw a huge increase in pending properties last week! The 61% increase reflects 47 homes going under contract, the total number of ALL properties sold the week prior! This is fantastic news and a trend that we expect to continue throughout the summer months!

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 7, 2008.

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

Active (New listings): 153 (Up 4% change from last week)
Homes: 71
Villa: 40
Lots: 42

Pending (Accepted contracts, but not yet closed): 76 (Up 61% from last week)
Homes: 47
Villa: 22
Lots: 7

Sold (Closed contracts):72 (Up 30% from last week)
Homes: 48
Villa: 21
Lots: 3

Price Reductions: 223 (Down 5% from last week)
Homes: 129
Villa: 53
Lots: 41

Here's a great article detailing some of the most expensive real estate markets in the world...

http://finance.yahoo.com/real-estate/article/105172/The-Most-Expensive-Real-Estate-Markets-in-the-World

Good Morning!

Here's hoping you had a great weekend!

Below you'll find the market pulse reflecting last week's activity. The shortened holiday week caused activity to level off in many categories, with new listings experiencing a 0% change from the week prior. With many folks returning from extended Memorial Day vacations and a good portion of high school and college graduations now behind us, we fully expect to see an increase in all categories this week.

In mortgage news: An economic report released last eek reflected stronger than expected growth, resulting in mortgage rates inching higher. Rates started the week at 5.875% but ended at 6.125%. Jumbo 30 year rates are currently 7.25% while 5 year conforming and jumbo rates are 5.625% and 6.5% respectively. (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 31, 2008. Please review the following and let us know if you have any questions on the statistics.

Active (New listings): 147 (0% change from last week)
Homes: 71
Villa: 42
Lots: 34

Pending (Accepted contracts, but not yet closed): 47 (Down 18% from last week)
Homes: 37
Villa: 8
Lots: 2

Sold (Closed contracts):50 (Up 4% from last week)
Homes: 36
Villa: 12
Lots: 2

Price Reductions: 235 (Up 3% from last week)
Homes: 146
Villa: 60
Lots: 29