Enjoy Beautiful Views from 53 Oyster Landing Lane

Just Listed in Sea Pines Plantation – 53 Oyster Landing Lane

This beautiful home has unbelievable views of marsh to Calibogue Sound in Sea Pines Plantation.  This home has many extras: 3-stop elevator, 2-car garage plus community pool & tennis courts on site.  Spacious Great Room with lots of glass taking advantage of the view.  Large master bedroom with an attached sun room.  Master bath has his/her vanities and a walk-in closet.  This is an end unit townhouse so it offers lots of glass windows on the side making it a light & bright home.  Click here for additional photos and information on 53 Oyster Landing Lane.

Spring is here on Hilton Head Island and there are a lot of things going on in the real estate market.  Here is a quick snapshot of what has happened during the first quarter of 2010 in the Hilton Head Island Real Estate market. 

We have had 393 sales on Hilton Head Island from January 1, 2010 through March 31, 2010 (homes, lots and villas).  Area sales are as follows:

Sea Pines Plantation – 41
Forest Beach - 55
Shipyard – 16
Wexford Plantation - 7
Long Cove Club – 3
Palmetto Dunes/Shelter Cove – 50
Folly Field – 20
Port Royal Plantation – 4
Hilton Head Plantation - 60
Palmetto Hall Plantation – 11
Indigo Run Plantation – 18
Spanish Wells - 3
Windmill Harbour – 10
Off Plantation – 95

During this same time period last year there were only 219 sales – so we have seen quite an increase in activity.

I was talking to a Realtor friend of mine in Chicago the other day.  On Friday she had listed a great property that she was so excited about – it represented a great value and was priced correctly in the market. 

Monday morning, two comparable properties had been reduced in price and the pricing that had been determined on Friday that was correct, was now in fact incorrect.  It was hard to believe that she was right on Friday and wrong on Monday. 

We had to step back and realize that all markets, especially the real estate market, changes from day to day. 

I once had a client who owned a lot in Sea Pines Plantation.  He called to get an updated market analysis on his property and I told him that the lot was worth $600,000. 

Six months later I heard from my client; he was so excited because he had someone offer him $600,000 for his lot and he had signed a contract.  I then told him that his lot at this point was actually worth somewhere around $700,000.  My client was distraught because I had previously told him that his lot was worth $600,000. 

Again, the market changes from day to day.  This is why I think it is important to consult your Realtor regularly as to the value of your property.  Remember, you can be right on Friday and wrong on Monday.

I was eating breakfast at a diner in Estill, South Carolina last weekend.  A young woman walked in and she was wearing a tshirt that said “will trade boyfriend for tractor”.  I did not really understand her shirt or why she would wear something like this.  Then I thought – everyone has things that are important to them. 

I recently went to list a 2nd row ocean home in Sea Pines Plantation.  When the homeowner told me what they thought their home was worth I was shocked.  I went on to tell them that oceanfront homes similar to theirs had not sold for that price. 

They came back and said that being 2nd row was better because you did not have people in your backyard all the time. 

I understand that this might be what they prefer, but it does not change the market. 

It is kind of like if you wanted to sell your Mercedes for more than a Bentley.  Just because you might like your Mercedes more, this does not mean that it is worth more than a Bentley. 

In my 29 years of selling real estate on Hilton Head I have learned that everyone has their opinion – but again, these opinions don’t always alter the market.

Enjoy spectacular views from 1097 Lighthouse II Villas

Just listed in the heart of Harbour Town – this beautiful Lighthouse II penthouse is immaculate.  Rarely on the market, this is a great opportunity in Sea Pines Plantation. 

Two bedrooms were combined to form huge master suite with spectacular bathroom.  Details abound in this villa – crown molding, coffered ceilings, teak floors and fabulous views.

Click here for additional photos and information on this chance of a lifetime. 

There is an old saying in real estate that says “when you are ready to buy, the property you want to buy will not be available at that time.”  I find this to be true quite often.

I recently had some clients who were several years away from retirement, but a house came on the market that they absolutely loved.  They said, “only if this house would be available in two years” to which I replied that the chances of that happening would be slim to none.

I always tell my clients that if they find the property they are looking for, buy it.  It does not matter if it is six months too early, a year too early or a year and a half too early.  For years, you will be happy with the decision you have made.

About 15 years ago, I had a client who told me that they always wanted to own a home on S. Calibogue Cay (there are only about eight or nine homes on that street.  One came available that was a great buy and he said that he wished it was on the market at a different time.  I told him that down the road this house probably would not be available.  After some thought, he decided to buy and to this day he is thankful for buying when they did and they love their home.

One of the agents in the office was showing me the numbers this morning concerning home sales in different areas.  They are as follows:  Sea Pines Plantation – 121, Forest Beach - 18, Shipyard – 7, Wexford – 15, Long Cove - 10, Palmetto Dunes - 45, Folly Field – 5, Port Royal - 35, Hilton Head Plantation - 164, Palmetto Hall - 14, Indigo Run - 37, Spanish Wells - 4, Windmill Harbour - 12, Off Plantation – 63 for a total of 516 sales. 

Villa sales were as follows:  Sea Pines Plantation - 61, Forest Beach - 120, Shipyard – 42, Palmetto Dunes - 98, Folly Field – 53, Hilton Head Plantation - 7, Hilton Head Off Plantation – 124, Windmill Harbour - 1, and Indigo Run - 4 for a total of 510 sales. 

Unfortunately, there were only 47 lots sold on the island during 2009. 

The total home sales volume was $399,000,000, villa sales volume was $133,000,000 and lot sales volume was $20,000,000 for a total of $552,000,000 in sales.

32 Water Oak is an absolutely beautiful home in the Club Course section of Sea Pines Plantation. This home shows wonderfully with an updated interior and a magnificent screened in porch.  The home has a brand new roof and was just recently painted on the outside.  Enjoy great golf views of the 14th hole of the Sea Pines Country Club with a lagoon view in the distance.  Sea Pines Country Club membership available separately.

Click here for more information on this fantastic home!

Last week we had 100 homes, 36 villas and 25 lots come on the market in all of Hilton Head Island MLS. 

Of the homes that just came on the market on Hilton Head Island, 14 were in Sea Pines Plantation, one in Forest Beach, one in Shipyard, one in Wexford, 9 in Palmetto Dunes/Shelter Cove, one in Port Royal, 5 in Hilton Head Plantation, 2 in Palmetto Hall, one in Indigo Run, one in Spanish Wells Plantation, one in Windmill Harbour and 6 were in off plantation areas. 

Of the homes that just came on the market in the Bluffton area, 22 were in off plantation areas, 5 were in Moss Creek, one in Colleton River, 6 in Belfair, 8 in Rose Hill, and 14 in Sun City. 

Sales seemed to increase slightly with 19 homes on Hilton Head and 25 homes in the Bluffton area going under contract; 3 in Sea Pines Plantation, one in Forest Beach, one in Shipyard Plantation, one in Folly Field, one in Port Royal, 6 in Hilton Head Plantation, 3 in Indigo Run, one in Windmill Harbour, 2 in Hilton Head Island off plantation areas, 14 in Bluffton off plantation areas, one in Moss Creek, two in Colleton River, 2 in Rose Hill, one in Berkeley Hall and 2 in Sun City.

We also had 12 villas and 3 lots go under contract. 

There are some great buys available and if you are in the market – now is a great time to buy.  Please visit my website at www.JamesWedgeworth.com to view all my best buys in the Hilton Head Island Real Estate market!