Today’s the last of my 4 part video segment answering questions about the Hilton Head Island Real Estate market.

Today’s video focuses on inventory and how it affects the market.

ENJOY!

The last several years, we have seen questions about foreclosures and short sales on the rise.

So do you know the difference between a short sale and a bank foreclosure?

There is so much more to these sales, but check out this quick video for a tutorial – it might help you when making a decision on whether to buy a distressed property on Hilton Head Island.

We all know that inventory controls pricing in any commodity – corn, soy beans, gasoline and guess what – even real estate!

We took a look at inventory levels versus the number of sales for homes during 2011 and found the following:

Under $200,000 there are 723 homes currently on the market and we had a total of 738 sales in 2011 for an absorption rate giving us an absoprtion rate of 11.8 months.  This means, that if no new properties came on the market, it would take us approximately 11.8 months to liquidate all inventory priced under $200,000.

This price range represented the lowest absorption rate, with homes priced over $2 million representing the highest absorption rate at approximately 60 months.

This tells us that in this tough market, the lower price ranges are definitely selling better than the higher price ranges.

We will keep you posted of any changes in the absorption rate – let’s hope we see these numbers go down soon!

2011 came and went with a flash; and I was glad to see 2012 with hopes of a better year for the real estate market.

Despite all the hardships and uncertainty in the real estate market, I am pleased to say that Charter One Realty continues to be the #1 company on Hilton Head Island with approximately $417 million in sales (three times that of the #2 company) – proudly serving over 1,000 families with their real estate needs.

I am working harder than ever to get properties sold on Hilton Head.  So if you want RESULTS, why not work with a proven market leader?  Visit JamesWedgeworth.com to see how we market and sell our properties.

I loved when I saw this article; it’s hard for me to believe Harbour Town doesn’t rank #1, but I guess if you place 2nd to anyone, The Masters at Augusta National makes complete sense.

The annual Heritage Golf Tournament holds a special place in many people’s hearts.  I don’t think I’m alone when I say that I was thrilled when the tournament found another sponsor last year allowing the PGA to continue to play in Hilton Head.

Wondering what other courses topped the list?  See the full article below…

http://www.golfdigest.com/golf-courses/2012-01/photos-best-tour-courses#slide=2

I was driving to work this morning and listening to the radio while they were interviewing John McCain.  He was talking about the upcoming Republican Primary Election in South Carolina and his experience with it several years ago.

He went on to say that the press loves to work the South Carolina Primary, saying ‘wouldn’t you rather be in Hilton Head in January than in Washington DC?’

I couldn’t agree more!  I think there are many people around the country today who might be looking out their window at rain and snow who might wish they were in Hilton Head.

So what are you waiting for?  Come to Hilton Head today!

Happy New Year from Hilton Head!  The holidays are over and it’s back to business on our blog!

Spring is just around the corner and that means that there are lots of activities and things to do on Hilton Head Island.

One of the upcoming events that keeps getting bigger and bigger on Hilton Head is Restaurant Week.  Restaurant Week is scheduled to begin January 21st and runs through January 28th.  Many local restaurants participate and offer menus so you can sample their fare.

More restaurants continue to add their menus; check out where you can dine here!

There’s something missing on Hilton Head Island this year as the holidays approach; last year marked the final year for the beautiful Dove Street lights in North Forest Beach.

Unfortunately, with the ending of the Dove Street lights, Deep Wells contributions have also taken a dip.  So if you are looking for a great  charity to help with this holiday season, consider The Deep Well Project.

Charities try to make holidays bright without Dove Street lights | islandpacket.com.

After you’ve finished stuffing yourself with turkey on Thanksgiving, people all around us will be gearing up for the upcoming Christmas season (not that it hasn’t been in stores for months now).

Saturday, November 26th, you and your family can join Santa, Mrs. Claus and more at the town’s official Christmas tree lighting at the Arts Center of Coastal Carolina off of Shelter Cove Lane.

Get more information on the Christmas tree lighting.

I hope everyone has a wonderful Thanksgiving with family and friends!