Little did we know that our October surprise would be what it was; we are all shocked at the “financial meltdown” associated with the banks, mortgage and insurance companies.  This had had an impact on Hilton Head home sales. 

Above is a chart that shows sales on Hilton Head Island during the month of October from 2004 to the present.  As you can see, the high was in 2004 with 89 sales, 65 in 2005, 42 in 2006, 62 in 2007 and 18 in 2008.
What does this mean; great news for buyers, bad news for sellers.  Sellers have to be realistic about values of properties and look at their competition.  Buyers are able to pick and choose the type property they would like and find a great value. 
If you have ever considered making another investment, there are some great “rental type” homes available. 
Please be sure to give me a call if you have any interest in taking advantage of this “buyer’s market” – make this October surprise a long term financial benefit for you!
Sincerely yours,
 
James Wedgeworth
Broker/Sales Agent