If you read the local Island Packet today, you have already heard the good news! The Heritage Golf Tournament has secured it’s spot on the PGA tour next year and the date has been announced. As thought, the tournament will played on Hilton Head Island April 18th – 24th – the same week as the Champions Tour event in nearby Savannah, Georgia.
We are all concerned about the Annual Heritage Golf Tournament on Hilton Head Island; we have enjoyed the week after the Masters which many consider to be fantastic.
A recent article in the local Island Packet said that the golf tournament will be changed to two weeks after the Masters; a Texas tournament taking our usual spot. We are concerned about this, but what we are most concerned about it maintaining the Heritage. Losing this golf tournament would be a major blow to our market.
I have had many people ask me how many foreclosures are in our current real estate market. At the present time there are 134 homes that are in foreclosure in the Hilton Head area; 3 in Sea Pines Plantation, one in Forest Beach, 3 in Wexford Plantation, one in Long Cove, one in Palmetto Dunes, one in Folly Field, 7 in Hilton Head Plantation, one in Indigo Run, one in Palmetto Hall, 2 in Windmill Harbour, 9 in off plantation areas and the remaining in Bluffton.
Looking at a breakdown by price:
39 are priced under $100,000
23 are priced between $100,000 and $200,000
12 are priced between $300,000 and $400,000
6 are priced between $400,000 and $500,000
5 are priced between $500,000 and $600,000
3 are priced between $600,000 and $700,000
2 are priced between $700,000 and $800,000
one is priced between $800,000 and $900,000
one is priced between $900,000 and $1 million
3 are priced between $1 million and $1.5 million
2 are priced between $1.5 million and $2 million
one is priced between $2 million and $3 million
one is priced over $3 million (more…)
This beautiful home has unbelievable views of marsh to Calibogue Sound in Sea Pines Plantation. This home has many extras: 3-stop elevator, 2-car garage plus community pool & tennis courts on site. Spacious Great Room with lots of glass taking advantage of the view. Large master bedroom with an attached sun room. Master bath has his/her vanities and a walk-in closet. This is an end unit townhouse so it offers lots of glass windows on the side making it a light & bright home. Click here for additional photos and information on 53 Oyster Landing Lane.
I went to the dentist recently because I thought I needed a root canal. The dentist told me that I did not need a root canal, but that I needed my tooth extracted because I had a broken root. I asked how he tell my tooth had a broken root because I could not see anything. He then made a comment saying that this is why he was the dentist and I was a Realtor.
I started laughing when he said that because I have used a similar statement before; going to real estate school doesn’t make you a Realtor.
I have friends who tell me that they want to take a real estate course to learn a lot about real estate. You might learn the art of real estate, but getting your license only gives you the opportunity to sell real estate. Being a Realtor involves knowing the market and putting to use your skills to good use. Just like going to dental school doesn’t make you a great dentist – it takes experience and putting your skills to use that gets you there.
I was visiting with some clients who were in the process of moving back to upstate New York to be closer to their children. They had been living on Hilton Head for over 20 years. They told me that they had rented a truck and that they had gotten such a great deal; it was only $200 and normally a truck like that would cost $800. I had to think about that for a moment and they went on to say that most people are leaving New York and driving the trucks from there, rather than driving the trucks back there. Because of this, they gave them a very good deal because they needed to get the truck back to New York.
This again is simple supply and demand – as it relates to any commodity.
If you are buying on Hilton Head Island you are in a great position – there is a lot of supply and some great deals available.
About five years ago I had a couple call me to do an updated market analysis of their home on Hilton Head Island. At that time they decided not to sell.
About a month ago they called me and asked me to come back to their home to give them an idea of what their home would sell for in today’s real estate market. I think that one of the first things I told them was that they were going to wish that they had sold five years ago.
I was surprised when they said that they were happy they did not sell then and that now was the right time to sell for them.
As a real estate agent, I often look at everything in regards to value and price. I think this couple had the right idea – they said that they valued their time in their home and said that no money in the world could make up for the happy times they had there – but that now it was time to move.
I think this is especially true in a place like Hilton Head, South Carolina where you can have so many great experiences and memories. So remember, the cost of a home is not always measured in dollars….
I am often asked what is the difference between a short sale and a foreclosure.
In a short sale, the owner still owns the property, but if they tried to sell they would have to bring money to the table because the property is currently worth less than the mortgage value. This is money that the owner does not have so they are negotiating with the bank in order to get out of their home before going into foreclosure.
One of the major problems with short sales is the fact that they take a lot of time. This does not matter often when a client is looking for a condo as a vacation home because it does not matter how long it takes to get it sold. On the other hand, if someone is moving to the island and needs to get in a property we normally don’t look at short sales.
In a foreclosure, the bank already owns the property and there is normally a faster turn around time.
A lot of people feel that there are some excellent values available in short sales, but you must be willing to wait.
