39 Regent Avenue is a remodeled townhome within Westbury Park in Bluffton, South Carolina.  This home features 3 bedrooms, 3.5 baths, new distressed maple hardwood floors, 42″ maple cabinets, corian countertops, new light fixtures, 1-year new air handler, 2″ wood blinds throughout, smooth ceilings, crown molding, wainscoting and more.

I can guaruntee that you won’t find another home out there with these type finishes for the money.  So what are you waiting for?  Learn more about 39 Regent Avenue!

I feel that it is almost the same way with the real estate market.  I personally feel that we are near the bottom, but I cannot be sure.  I can back up my feelings with the fact that I have purchased property this year because I feel we are near the bottom.  The market is at its slowest when we are at the bottom of the market and I can say that the last 6o days have been very slow.  

So don’t get caught waiting for the bottom to hit and miss out on some fantastic buying opportunities!  Check out some of my real estate best buys!

Last week we had 64 sales in the Hilton Head Island MLS; 36 homes, 6 homesites and 22 villas. 

Following is a breakdown of sales by area: one in Sea Pines Plantation, 6 in Forest Beach, one in Shipyard, one in Wexford Plantation, one in Long Cove Club, 3 in Palmetto Dunes, 5 in Folly Field, 2 in Port Royal Plantation, 3 in Hilton Head Plantation, one in Indigo Run, 2 in Windmill Harbour, 8 in Hilton Head off Plantation areas, 11 in Bluffton off plantation areas, one in Moss Creek, one in Colleton River, one in Rose Hill, 3 in Berkeley Hall, 5 in Sun City, one in Oldfield, 3 in Beaufort and one in Hampton Hall.

Click here to visit my featured listings or to see a list of Hilton Head Island short sale and foreclosure properties.

There were 43 sales last week in the Hilton Head Island MLS; 28 homes, 9 villas and 6 homesites.

Following is the breakdown by area of these sales: 2 in Sea Pines Plantation, 3 in Forest Beach, 2 in Shipyard, 5 in Palmetto Dunes, one in Port Royal Plantation, 2 in Hilton Head Plantation, one in Indigo Run, 5 in Hilton Head off plantation areas, one on Daufuskie Island, two in Bluffton off plantation areas, two in Moss Creek, one in Belfair, one in Berkeley Hall, four in Sun City, one in Oldfield, four in Hampton Hall, four in Hampton Lake, one in Jasper County and one in Barnwell County. 

Of these sales, 10 were foreclosures and 6 were short sales.  Click here to see a list of current foreclosure and short sale properties in Hilton Head Island and 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 

 As you can see, most of the foreclosures seem to be at the lower end of the real estate market. 

Click here to see a list of my foreclosure and short sale properties.  If you would like, I can also set you up so you are notified every time a new foreclosure comes on the market - simply email me at James@Jameswedgeworth.com and type “Foreclosure List” in the title line. 

There are 43 villa foreclosures; 7 in Forest Beach, one in Shipyard, 2 in Palmetto Dunes, 3 in Folly Field, 22 in off plantation areas and the remaining in Bluffton. 

Looking at a breakdown by price:

27 are priced below $100,000
11 are priced between $100,000 and $200,000
3 are priced between $200,000 and $300,000
One is priced over $400,000

The lot market is the worst by far – there are currently 118 foreclosures on the market; one in Wexford, 2 in Long Cove, 3 in Folly Field, 2 in Indigo Run, 11 in off plantation areas and the rest in Bluffton.

When you decide to buy or sell property on Hilton Head Island, shouldn’t you choose a real estate company and agent who is working hard in the market and seeing results. 

If you would like an updated market analysis of your property or if you have any other questions concerning the real estate market on Hilton Head Island be sure and let me know.

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!

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.

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.

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.