Nobody is happy.

That’s right, in this real estate market, nobody is happy – not even the buyers. 

I did not realize this until I was talking to a Realtor friend of mine from Chicago today.  We, as Realtors, think that purchasers are happy and excited because they are getting some phenomenal deals in this market.  But in reality, buyers are still nervous about their purchases as prices continue to fall – they want to know if their new home is going to retain its value.

We all want this real estate market to turn around, so we can all be happy!

Here is a brief recap of what happened in the Hilton Head Island real estate market during the month of June. 

We had 47 homes sell on Hilton Head during the month of June; compared to 124 home sales during the same time period in 2005 – which was the top of the market. 

We had 65 villa sales during the month of June on Hilton Head; compared to 204 villa sales during the same time period in 2005. 

We had 23 lot sales in Hilton Head and Bluffton in June compared to 102 sales in 2005.

I’ve been telling my clients, home sales are slow, villa sales are slower, and lot sales are slowest. 

I do feel good about the fact that we had more villas and lots sell during this time period than in 2009 during the month of June. 

Prices continue to drop – bad news for sellers and good news for buyers.

We were having dinner at one of the top restaurants in Napa Valley several nights ago.  I couldn’t help but overhear the couple next to me talking to their server.

They themselves were owners of a restaurant and they were asking about the owner of this particular restaurant.  The server told them that the owner was very hands on and was in almost every day overseeing everyday tasks. 

When the server walked away, she said she could totally understand why this restaurant was so successful.  The owner definitely pays attention to details – he knows everything that everyone who works there is doing. 

I see so many Realtors who try to be efficient with their listings, but are often absentee.  They often hope to put a listing in the Hilton Head MLS and cross their fingers that someone else sells it. 

We try to give the best service possible when it comes to Hilton Head Island Real Estate - working hard from the time we get the listing until the time it sells.

At the Beaufort County bank foreclosure sale on Monday there were approximately 150 properties that were foreclosed on – some in Beaufort, some in Bluffton and some on Hilton Head Island. 

We went through a 15-year time period where we had no foreclosures on Hilton Head.  There is an old saying that says “a rising tide lifts all boats” and when people’s property values are going up 10%-25% per year there are not going to be any foreclosures because they can sell the property at any time they want. 

When the reverse of that happens, people who purchased in 2004, 2005 and 2006 are left in trouble and due to financial difficulties, some lose their home to foreclosure.

In a slow real estate market, buyers are always looking for the best deals out there and they are often interested in foreclosures.  This would have a negative effect on someone who is not a foreclosure because you have to deal with these properties. 

Many times people think that foreclosures don’t have any effect on their property value.  Buyers don’t look at it that way.  A buyer is looking for the best deal available – whether it is a foreclosure or not.  It is important to realize that any and every seller has to compete with foreclosures.

There are some great deals out there.  If you as a buyer, are interested in getting a list of the foreclosures please let me know.  We can set you up so that you will be notified of new foreclosures – it is fast, easy and harmless. 

Click here to view my Hilton Head and Bluffton foreclosure properties.

Hampton Hall represents one of the best values available in Hilton Head and the Low Country.  Hampton Hall offers unbelievable amenities are optional for the property owner – if you don’t want to join the club you don’t have to, which is different from some of the other developments that have been hit harder through the recession. 

Hampton Hall is a private, gated country club community with an 18-hole Pete Dye designed golf course.  Hampton Hall also offers a great clubhouse area with private dining, library, billiards room, card room, meeting rooms, etc.

Also included are six clay and hard surfaced tennis courts, state of the art fitness center, indoor and outdoor swimming pools, basketball courts, playground, bocce courts and much more.  You name it – Hampton Hall has it!  There is a 26-acre lake for fishing and 6.5 miles of biking and walking trails. 

I am having more and more buyers looking at Hampton Hall because of the excellent value it represents in today’s market. 

At the present time there are 58 homes listed for sale ranging in price from $289,900 to $899,000 and 93 lots listed for sale ranging in price from $28,000 to $284,900.  There are also a number of great foreclosure properties available in Hampton Hall. 

Click here to view our best values in Hampton Hall Plantation. 

It is this time of year that we all start thinking about our goals for the new year.  Here are my suggestions to my real estate clients on Hilton Head. 

If you are thinking about buying resort property, now is the time to buy.  Prices have never been lower, interest rates are low, sellers are motivated and the selection of property is unbelievable.

If you are considering selling, you should probably go ahead and do it now.  I know a lot of people have been waiting, thinking that prices were going to go up in the next several years.  I wish that were the truth, but I do not think it will happen.

I think we will look at 2010 and it will be called “the year of the buyer”.  There are so many good properties available – now is the time to buy!

It has been my experience that people always miss the bottom and a year or so later wish they had bought the year before.