By James Wedgeworth on July 31st, 2009
The front page of The Wall Street Journal on Wednesday stated, Home Prices Rise across the U.S
This same day, USA Today quoted that ”house prices rounded a corner”.
This initial increase might be small, but it is the first rise in three years
It is important to realize that this is talking about the national market; some areas are better than others. I do think that this proves that the market has bottomed out
For months people have been saying that they want to buy but they want to make sure that the market has bottomed out. I tend to think that it is hard to know where the bottom of the market is until it has turned around.
Most people wait until the market has increased 10%-12% before they buy.
How does this relate to Hilton Head? Our market is slower than the national market, but the important news is that we are finally getting some positive press.
We still have unbelievable values, a lot of foreclosures and we have people who really want to sell.
Just remember, time is a friend of the buyer and an enemy of the seller.
By James Wedgeworth on July 31st, 2009
I was at a real estate conference and heard this quote. After I thought about it, it made more sense to me.
It seems like most people who talk to me about their real estate on Hilton Head are waiting for the rain to stop.
We will likely be in a rough real estate market for the next three years.
One out of 10 homeowners are in some kind of problem with their mortgage – I find this hard to comprehend.
I think we need to look at the present situation and make the best of it. Many people are talking to their banks about loan modification.
Will the market return? We have been through multiple recessions where values have gone down.
I think it is important to realize that the situation is not going to change in the short run and people who take advantage of the situation will be better off.
By James Wedgeworth on July 29th, 2009
This Saturday, August 1, 2009, the 3rd annual Pet Expo will take place at the Mall at Shelter Cove from 11am to 2pm; proceeds of the fundraiser will go to the Hilton Head Humane Association.
Events will include fashion show, glamour shots and opportunities for adoption. For more information on this event visit The Island Packet.
By James Wedgeworth on July 28th, 2009
Harbourfest, Shelter Cove’s signature summer event on Tuesday nights offers visitors and locals with live entertainment, food, shopping and fireworks. Even better, this event is open to the public and free of charge. This year’s Tuesday night event runs from June 2 through August 18.
For more information on HarbourFest visit the Hilton Head Chamber of Commerce website.
By James Wedgeworth on July 27th, 2009
Closed sales for Hilton Head Island MLS which includes villas and lots in May of 2008 were 196 and 185 [...]
By James Wedgeworth on July 24th, 2009
Visit the Bluffton Farmers Market on Thursdays throughout the summer for local and seasonal produce. You will also find food [...]
By James Wedgeworth on July 23rd, 2009
I do not have an official count but I was recently told that there were about 300 Realtors who were active in [...]
By James Wedgeworth on July 22nd, 2009
I just got off the phone with a client who I was working with who bought a house and was [...]
By James Wedgeworth on July 20th, 2009
After selling real estate on Hilton Head Island for 29 years, it amazes me how some people do not understand [...]
By James Wedgeworth on July 17th, 2009
I recently had a seller of a condo on Hilton Head give me a call and said he was interested [...]
