Spring kicks off our busiest real estate months in the Hilton Head area. This time of year on the Island is amazing with everything in full bloom and temperatures in the mid 70’s and low 80’s. The great weather and Island bloom are the best reasons to visit, but on top of this we also have Easter(April 5), the RBC Heritage presented by Boeing(April 13-19) and spring happenings now. Read the rest of this entry
If you are planning on purchasing property in the Hilton Head area and wish to simplify the financing process, choose local mortgage representatives in the Hilton Head Area. A neighbor back home or a friend that works for XYZ bank will be challenged by Hilton Head’s special property characteristics. A local mortgage rep can better assist a buyer navigating these local waters.
For buyers, it’s a great time to purchase a home because the school year is coming to an end and residents have all summer to move before it’s back in session. For sellers, it’s a great chance to reach a lot of home buyers as they navigate the market searching for their dream home.
In preparation for the spring home buying season, we wanted to share with you some tips on how you can shop smart as a home buyer. Enjoy!
4 Home Buying Tips for the Spring Market
Don’t just rely on the Internet for your home searches. While you can certainly find a treasure trove of information on the Internet, it’s not the only way to find your dream home. In addition to searching real estate websites, you might consider also getting out and canvassing homes for sale the old fashioned way. After all, Internet pictures and listing information only tell part of the story. For full context, you need to view the home in person. And don’t hesitate, either! This year’s spring home buying market is expected to be particularly competitive and so you want to make sure you get to that home before other buyers do.
Learn about current market values in trend. Obviously, every market is going to be slightly different and so it behooves you to lean about your local housing markets specific trends. Let’s consider the recent Case-Shiller 2014 home price index, which shows you how much of a difference there can be among major markets. In that report, San Francisco saw the largest annual regional gain at 9.3 percent. Meanwhile, other major markets like New York, Chicago and Washington DC saw less than 2 percent. A qualified and experienced agent can talk with you about current trends and how they impact you.
Lock in low mortgage rates now. Those near-historic lows won’t be around forever. Thus, make sure you get a good mortgage rate now. By doing so, you ensure that your monthly mortgage will be reasonable for you. And in some cases, you may qualify for a larger or more expensive home thanks to low mortgage rates. Here’s another reason to get a mortgage now: In January, the Federal Housing Authority (which backs loans for borrowers who make low down payments), lowered the annual insurance premium it requires from 1.35 percent of a home loan to just 0.85 percent. All told, the Housing Department estimates that will save FHA homeowners roughly $900 a year.
Keep “Sweeten-the-Deals” Strategies in Your Back Pocket. As previously mentioned, this is going to be a competitive spring home buying season. In other words, you may face a bidding war. So to prepare, consider ways that you can sway the seller in your favor. This might include an escalation card, which is the amount that you’d automatically be willing to pay above a competing bid. You might also consider foregoing certain contingency clauses. Contingencies are stipulations that allow buyers to get out of contracts. These include appraisals, home inspections and financing contingencies. By removing such contingencies, you’re likely to impress the home seller enough to want to accept your offer.
We Are Your #1 Resource for Home Buying Tips
We hope you found the above information helpful as a prospective home buyer. Please make sure to check back here soon for even more tips that will help you as you navigate the market!
Have a great day!
Ocean Palms features 96 beautifully furnished villas managed by the Westin Hotel. Two and three bedroom villas in Ocean Palms have an all-inclusive amenity package that includes golf, tennis, beach and the use of Westin Resorts Fitness Center, Oceanfront Pool Complex, Beach Access and Resort Shuttle.
“We are proud to represent the homeowners at Ocean Palms and we are looking forward to an exciting year,” said Robbie Bunting, owner and broker in charge of Hilton Head Properties.
For more information, contact Tuttle or Hodsdon at Hilton Head Properties’ main office, (843) 785-7111, or stop by the furnished model at Ocean Palms.
Hilton Head Properties is located at 12 New Orleans Road on Hilton Head Island. HiltonHeadProperties.biz features more than 3,000 MLS listings and includes local videos, updated real estate articles, charts/graphs, mapping, visual tours, property updates and more. For more information, call (843) 785-7111 or e-mail Info@HiltonHeadProperties.biz.
Any day now, the first azaleas will bloom on Hilton Head Island. Spring is a great time to visit Hilton Head Island and includes celebrations including the RBC Heritage Golf Tournament, Spring Festivals, St. Patrick’s Day(Savannah and Hilton Head), Easter and fabulous weather. Coincidentally many spring visitors fall in love with Hilton Head Island making the month of April our biggest selling month of the year. Empty nest baby boomers this year will find realistic pricing, great interest rates and fabulous properties. We offer great properties and fabulous vacation rentals.
Things are certainly looking up on the national real estate market! According to a recent report from the national Standard & Poor’s/Case-Shiller Home Price Index, home prices increased during the month of January despite cooling home sales.
Experts believe that a tightening inventory helped to spur the rise in home prices.
This is important information for home sellers as it will help determine their home selling strategy on the local housing market. So continue reading to learn more!
What National Home Sellers Should Know About the Market
Here are the highlights of the most recent report from Standard & Poor’s/Case-Shiller Home Price Index:
- National home prices increased 4.6 percent year over year in December, bolstered by increased of 9.3 percent in San Francisco and 8.4 percent in Miami.
- Home prices in Chicago increased 1.3 percent year-over-year while Cleveland and Washington saw price gains of 1.5 percent.
- Here are some additional cities mentioned in the report, including their year-over-year index change:
Las Vegas: 6.9
Los Angeles: 5.5
New York: 1.9
San Francisco: 9.3
- Meanwhile, experts described how regional housing indicators in the south and west were generally positive while the harsh winter continued to hold back home sales in the Northeast and Midwest.
- Specifically, existing home sales in the West dropped 7.1 percent in the month of January, according to National Association of Realtors’ data released Monday.
- Meanwhile, national home sales decreased 4.9 percent month over month.
- Sales in the Northeast dropped 6 percent month over month, while declining 4.6 percent in the South and 2.7 percent in the Midwest.
- Home sales were, however, up year over year in all four regions in January.
How Can We Help Make Your Real Estate Dreams a Reality as a Seller?
Please contact us for more valuable insight on the current state of the national housing market and how it may benefit you as a home seller. We would love to assist you!
And make sure to check back here next time for even more information that will aid you in your real estate endeavors!
Did you know there is an ownership program set up on Hilton Head Island that offers multiple weeks of use per year? This ownership offers 1/5th deeded interest and it is completely hassle free. We had a client purchase this type of ownership to experience all four seasons before purchasing a full time residence, one couple gave each of their children two weeks to use every year with their families, and other couples have used theirs to escape winter every year. Prices currently start in the $30,000’s for 10 weeks(1/5 deeded ownership). What could you do with 10 weeks a year on the Island? Read the rest of this entry
Port Royal Village, a cozy seaside village on Hilton Head Island offers walking convenience to great golf, tennis, dining, a spa and an incredible beach. Surrounded by Low Country beauty the village winds through moss covered oaks, tranquil lagoons, Palmettos and lush landscaping. Accommodations offer perfect vacation getaways and year round living with added convenience to all the fabulous dining and shopping Hilton Head Island offers. Read the rest of this entry
Evidently, home price growth accelerated in much of the country during the fourth quarter of 2014.
This is a fantastic development for anyone hoping to get a good price on their home for sale. Continue reading to learn more.
What You Should Know About US Home Sales
Here is an overview of the highlights of the most recent real estate market report:
- The median price of an existing single-family home increased year-over-year in 86 percent of 175 metropolitan areas.
- 24 areas had price gains of 10 percent or more.
- That figure is up from 16 regions during the third quarter.
- Meanwhile, prices declined in 24 areas.
- Experts credit the home price acceleration at least in part to low mortgage rates and improving employment conditions.
- Still, home price gains are reducing affordability in areas across the country, which had 25 percent growth on average over the last three years.
- At the end of the fourth quarter, there were 1.85 million previously-owned homes listed for sale, down from 2.01 million a year earlier.
- The number of markets that saw year-over-year price gains in the fourth quarter has increased.
- The median price for an existing single-family home in the three months through December was $208,700, which is up 6 percent from the fourth quarter of 2013.
A Different Effect Seen in Canada
As US home prices have increased, a lot of Canadian cities are seeing declines in home prices.
According to the market data:
- Home prices have started trending downward in several major Canadian cities, including Montreal, Winnipeg, Calgary and Hamilton, Ont.
- Still, at least two major cities showed gains. On an annual basis, home prices were up 7.4 percent in Toronto and up 5.1 percent in Vancouver.
When It Comes to Real Estate, Knowledge is Power
We take pride in being able to provide you with the most up-to-date market information so that you can make informed decisions as home buyers and sellers.
Check back soon for even more updates on the state of the national housing market and how that may impact you as a buyer or seller.
It may be too late to fly to Paris, but not for a trip to Hilton Head Island for Valentines Day. Hilton Head Island is only a one day drive for many and offers some excellent Valentines events. We have included Romantic Restaurants and Oceanfront Resort Specials for you below. Of course, the Spanish Moss and Moonbeams are included for free. Happy Valentines Day!