Sellers, can’t compete with Santa!
I was driving down the William Hilton Parkway yesterday and spotted the first sign that our selling season will soon come to an end. The pumpkin patch mobile home pulled into position across from Harold’s Diner. Soon the green and white tent will go up and we will all be thinking a little more about the holidays and a little less about real estate. After they sell all the pumpkins, out come the Christmas trees but, between now and than Hilton Head Island will offer Chamber of Commerce Weather which in turn attracts great buyers.
The countdown on Hilton Head Island has started
Once everyone gets into the holiday spirit, their minds become focused on family, gifts, travel and not real estate. Of course, sellers do have the opportunity to get their property sold between now and the first Chrismas commercial, but they must take action now. In the next few weeks, buyers will be looking for properties that offer the big three including price, condition and location. You must be on top of your game to get your property sold in this time frame.
“Test and Measure” to price correctly
The market changed and when it did, properties could no longer be overpriced and get showings or receive offers. Now, sellers and agents need to test and measure. Based on a BUYERS INTEREST IN AVAILABLE LISTINGS, if you are a seller or an agent and currently not getting any showings it means your property is 5-20% over priced in the market today. If you are getting showings and are not getting any offers, your property is overpriced by 0-5%. There is nothing else that will get a property sold than correcting the price. It is not the Realtor, not the marketing, not the photos or a lack of buyers.
No one has a crystal ball!
There are some things that we know for certain. We know that April and October are the biggest selling months for real estate sales on Hilton Head Island. We know that the capital gains tax is currently 15%. We know that there are buyers on Hilton Head Island (for the next few weeks anyway). We know that fixed money is at an all time low starting under 3.75% and we know that we have some of the best darn properties we have ever had the pleasure of marketing on Hilton Head Island. We don’t know about next year….remember “There ain’t no pity in be back city!”
To the tune of the Night Before Christmas, our recommendation is:
“Now, Buyer! Now, inspector! Now, lender, and attorney!
“On, Realtor! On, insurer! On, seller and me!
“To the bottom of the market! to the end of the season!
“Now dash today! dash today! it gives us all reason!”
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