Hilton Head Island is a be-back city. 

Face it, most of the Hilton Head buyers live somewhere else.  With an annual population of only 35,000, Hilton Head’s primary buyer pool exists in it’s 2.5 million annual visitors.  These are the be-backs that will return either every week, every month or every year until they buy something.  Of course, Real Estate Agents on Hilton Head Island want these be-backs to know that if they cannot find as nice home as they saw on their last visit, or they cannot negotiate as much, or the interest rates are higher, don’t blame it on us!

Be-backs will give up negotiability over time

One important point that every potential be-back needs to know, now is the time to negotiate.  It will always be a great time to buy real estate on Hilton Head Island, but this buyer cycle will soon pass as the news continues to get better.  If you are thinking of waiting until your next visit to Hilton Head Island before you make a purchasing decision, be prepared to give up your ability to negotiate.   

 Be-backs will give up selection over time

The beauty and challenge of selling real estate on the Island is that the selection pendulum swings fast with the limited finite resouce of properties.  Just two years ago we were in a sellers market with fewer properties available.  Now we are in a market that offers incredible selection.  As the pendulum moves back to the middle, this incredible selection will shrink and our be-backs will have to settle for a smaller yard, an older kitchen, further from the beach, less of a view, less of a neighborhood, and overall less than what they can get right now. 

Be-backs will have to pay more over time

With prices down approximately 27% on Hilton Head and the lowest interest rates ever available, be-backs can save almost 50% on their purchases today over two years ago.  This is based on the current interest rates which drop the costs to own down by a fifth(20%) from two years ago.  Although none of us have a crystal ball, we all know that what goes down must come up.  Unfortunately, the longer these be-backs wait the more they will lose in savings.  Time is money!  

It’s time for be-backs to make their move now

Based on  last year’s NAR* study, be-backs cannot sit on the fence and wait any longer.  According to this study 1 in 10 home buyers purchased a vacation home in 2009 and the sales of vacation homes increased by 7.9 percent in 2009.  As well the median vacation home price increased by 12.7 percent in 2009 with 48% of investment property buyers paying cash. Based on this study vacation-home buyers plan to keep their property for a median of 16 years while investment buyers plan to hold their property for a median of 12 years.  The bottom line is properties are being taken off the shelf!

Be-Backs need to be-back soon!

Now is the time to search Hilton Head properties, search distressed properties, search the latest listings or find the perfect villa.  We also sugget scheduling your “BE-BACK” trip to Hilton Head Island TODAY.  We have lined up special accomodation discounts for our clients, customers and their friends.   We want you to take advantage of the savings, negotiability and selection this market offers (email us for details).  To sweeten this even more, we will also throw in our special Fly or Drive to Buy coupon for our fall be-backs. 

Remember there is no pity in “be back” city. 

*NAR’s 2010 Investment and Vacation Home Buyers Survey, conducted in March 2009, includes answers from 1,930 usable responses. The survey controlled for age and income, based on information from the larger 2009 NAR Profile of Home Buyers and Sellers, to limit any biases in the characteristics of respondents.