This week we have trends from experts in the Hilton Head real estate market including a local lender, a local appraiser, a long term rental agent and a vacation rental agent.  We asked these trusted advisors to tell us what they forecast in the year ahead in their respective fields and how this may effect real estate on the Island.  Feel free to contact these professionals directly with their contact information listed below.  Happy Hilton Head!

Vacation Rental Forecast For 2o11  ~ A note from Todd Brooks at Island Getaway
The upcoming rental season is showing very positive signs, as advance bookings are up over 20% versus this time last year.    We saw nice stabilization of  the market in 2010 and less deviation from the published rates.  People always have, and always will want some type of “deal”; but as the rental market strengthens, the pendulum begins to swing in our direction.  I believe we saw the bottom of the market in 2009.  A good barometer for the overall market is Internet reservations.  Our online bookings are up substantially for the upcoming season, which is a positive indication.  This shows willingness for consumers to spend money in advance and at the published rates, which we have not seen in volume since the pre-recession years.  Read the rest of this entry


Lender Forecast for 2011 ~ A note from David Crowell at Mortgage Network
The best news about 2011 is that for once lenders will not be the big story. We will continue to have historic low rates hopping continuously between 4.5 to 5.25 percent for fixed rate mortgages.  We have plenty of money to lend and the desire to lend is back full force. We are finding we are able to satisfy most purchasers with conventional and jumbo financing.   Read the rest of this entry

Appraiser’s Forecast 2011 ~ A note from Bruce Goff with Bruce A. Goff

We are seeing a slowing in the refinancing and I guess the market thinks that we will see rates back in the 4% range.  “All my banking clients don’t see a return to those rates.  I guess I must agree that we maybe turning the corner on rates and property values”, said Bruce Goff a local appraiser on Hilton Head Island.  Read the rest of this entry

Long Term Rental Forecast for 2011 ~ A note from Keith Miller of Miller Long Term Rentals

2010 was a good year for long term rentals with increased demand.  This was due in part as a result of the economy with people not qualifying for home mortgages and people losing homes to short sales or foreclosure.  Another factor that helped with the demand for rentals were people who owned a home and sold their home, lost their equity due to the devaluing of the property and no longer have the funds to purchase another home.  Read the rest of this entry.

The Coast is clear for Hilton Head Buyers

We are excited about the year ahead!  Already in January we are seeing buyer confidence building and are selling properties that are properly priced.   While many sellers have taken the buyers place on the fence waiting for a major ”something”  to occur, those sellers that are moving to market price are being rewarded with showings and ultimately contracts.  We have listed some other trends for 2011 on Hilton Head below.  Read the rest of this entry

Next Week:  Forecasts from a local Builder, an Attorney and local business people.