We have always heard that people look at politics from a pocketbook point of view.  I have had people ask me how the new Presidency will affect property values.

If Obama raises taxes on the wealthy, this could have a detrimental effect.  It is no secret that most people that buy property on Hilton Head Island make over $250,000/year and they definitely make over $125,000 (which is Bill Richardson’s number) and they make over $200,000 (which is Joe Biden’s number).  That number continues to change so we do not know what he will do with that.  The fact that the Senate is not filibuster proofed, means that Republicans possibly control 44 of the seats and would have the ability to possibly block any enormous tax increases.

On the other hand, if the consumers have more confidence in Obama to solve the economic problems, then maybe that will have a positive influence – consumers will start spending and the economy will rebound.

It is hard to say whether it is a bottom up or trickle down effect that will take place.

The one thing we know is we are committed to doing everything we can to try and stimulate the local market.  We are doubling our efforts and working harder than ever to make sure we can get property sold.