Speaking with my coach, he told me that there are many that follow conventional wisdom when it is time to sell a property.  Conventional wisdom is what the public and experts believe to be true.  Listed below are reasons that are Contrary to Conventional Wisdom that apply to the Hilton Head Island Real Estate Market. Read the rest of this entry

What’s Happening in the Hilton Head Real Estate Market Today

Residential markets on the Island increased 46% in sales in comparison to last November as boomers rush in to grab the lower rates and avoid the cold.  With over 2.5 million visitors, many returning over the past 30 years, this aging visitor is impacting the residential real estate markets on and off Hilton Head Island.   While demand and confidence has increased through the years, supply has declined with the Island now 97% developed.  It is safe to say the supply side of the economic equation is dropping every day and this will have effect on values.   Baby boomers may have hit a speed bump with the recession, but it certainly did not stop them.

Top 5 items on the Shopping List for Vacation home and Investment Buyers in 2014 according to NAR:

1. 64% are looking for the Quality of the Neighborhood and Hilton Head has this hands down!  A relatively young town Hilton Head Island incorporated in 1983 and development was impacted by how it fits in with the trees.  Pretty cool!
2. 46% are looking for Convenience to beach/leisure activities – Hilton Head Island is an 8 x 12 mile Island that is 97% developed.  Everything is close by!
3. 41% are looking for Overall Affordability – Post recession pricing has carried over into 2014 and this will disappear once inventories tighten.  Some areas are already experiencing this on Hilton Head Island.
4. 38% are looking for convenience to Shopping and Dining – With over 300 restaurants and shopping from South Beach to Old Town, Hilton Head again has it hands down.
5. 45% are looking for A Planned Community – The majority of communities on Hilton Head Island are planned communities with covenants and amenities within the gates.

Market Trends for 2015 according to Robbie Bunting

1. Tighter Inventory for Residential Properties and higher pricing – Due to the lower inventory levels, buyers may not like it, but will spend more in areas that have lower inventories.
2. Premium Prices Paid For Turnkey – Many of the Island buyers are looking for turn key….and will pay a premium.  The opposite applies to properties that need work.
3. Lock and Leave Lifestyles – Older buyers want to be able to travel and visit the kids. Security and being able to lock and leave is important.  B
4. Longer Ownership – Buyers and boomers will hold their properties longer according to NAR research for up to 12 years.

Are you a seller that has been sitting on the fence?

Over 28% of sellers that purchased in the last 10 years stalled or delayed their property sale because their property would sell for less than what they wanted to sell it for or less than what they owed on it.  Now that buyers are once again in the market, sellers should not take these buyers for granted! There is still danger in the market.  While there are some confidences that may have put some sellers into the ether, buyers will lose 10% of their buying power for every ½ point change in mortgage rates as we go forward.   We have all seen what happens when buyers lose confidence!

If you are selling, here are some strategies for Selling A Hilton Head Property

• Price it correctly. Price it within 3% of the selling price. Buyers are shopping and comparing on the internet. Just because it is the only one, does not mean it will sell for more.  Price it to sell
• Condition is paramount. Buyers have choices and it is a real beauty contest:
  • Stage it to sell – The way in which you live in a home is very different than the way you sell a home. Invite a friend to come over…and help set the stage. Start packing up boxes and put them in storage. Clean off your front patio, door, hardware and back. Pressure wash. You only have one chance at a good first impression.
  • Fix it, don’t say it. No amount of seller concessions will ever sell a property that needs repair. Offering paint, carpet or any concession sellers  can expect a $2 discount for every dollar they should have spent. Buyers are demanding great listings and are making the decision on what they want to see based on what they see on the internet.
• Pitch Location –Nothing you can do to change it, but be sure to embellish it! It is what separates a property from everything else. #1 Rule in real estate is BUY LOCATION. It builds value and separates on Island properties from off Island properties.
• Access-Cannot sell a property if you cannot see it. Buyers are driving up and down 278 and the easier properties to access will be shown more and sell faster.

Final Word…The Internet is changing the way you do real estate…

Over 94% of buyers use the internet to find a property.  That is especially true for areas like Hilton Head where the majority of our buyers live somewhere else.  We have 39000 living here and over 2.5 million wanting to live here.  Almost 50% of buyers actually locate the property they ultimately buy on the internet.  Therefore, photos, virtual tours, helpful information including costs and local amenities will help a property sell faster.  Buyers are now searching the internet and comparing properties both on and off the Island.  What sets your property apart from the others?

This presentation made by Robbie Bunting with Hilton Head Properties offers forward thinking information based on real estate trends in the Hilton Head Market Place.  This information is not guaranteed for future gain.

What every Hilton Head Buyer Should do…

1. Call Your Realtor or contact us and let us set you up on a FREE MLS Link.  This link will email automatically new listings and price adjustments in real time as they hit the market.  The best properties do not stay on the market long.
2. Call a lender and get pre-approved or get a proof of funds from your bank so you will be ready to go when you see the perfect property.  Pre-approvals and Cash talks and beat offers that have financing contingencies
3. Ask your realtor to send you a sample-contract so you can be familiar with the addendums and the contract.  Ask them to include a property inspection addendum, a HUD estimate, a buyer-agency and a sample-disclosure.

When a property POPS, Call your Hilton Head REALTOR

Call YOUR realtor if you see a great property on your MLS LINK(here is a copy of my MLS Link for short sale homes).  Do not email them, do not wait for tomorrow.  If it is a great property that has captured your attention, chances are it will capture other buyers attention too.  Jane and I will go see it, get you the information and give you an opinion of the property.

Time to negotiate the perfect property on Hilton Head Island 

There are trends in every real estate market. These market trends can help us negotiate once you find the perfect property.  It is our goal to help you win the bid and get the property and these trends are helpful in determining the best strategy.  Call on us anytime to review the Market Trends and help with negotiations.

Please click here for a printable version.

We complete the Hilton Head Island Market Research below every month.  We use this as our guide in explaining the market to Hilton Heads buyers and sellers.  We have made some notes of the most obvious patterns that occurred.  If you would like to receive these monthly reports via email, please send me an email at Robbie@robbiebunting.com .  As well, if you would like to discuss the market, please feel free to call me at (843)785-7111 ext. 1.  Please click the trend below for a printable copy of this market report.  Thank you.

When it comes to selling real estate Albert Einstein was right on when he said “Insanity: doing the same thing over and over again and expecting different results”.  We will not let a listing just sit and expect different results, therefore we are constantly tweaking our Hilton Head properties to make them sell.  What’s tweaking got to do with selling?  Everything! Read the rest of this entry

As more Baby Boomers retire, real estate experts all across the United States are seeing more cash deals, according to a recent report from Bloomberg.

Evidently, these Baby Boomers (defined as anyone born between 1946 and 1964) are opting to purchase their homes with all cash instead of taking out a mortgage. Read the rest of this entry

The aerial photo drone is a game changer in marketing resort real estate.  Selling resort real estate is not just about marketing property, it’s about selling lifestyle and amenities.  High resolution aerial photography shows the location to nearby value builders including the beach, golf, tennis, marinas, marshes and lagoons.  We are now using aerial photography in all of our Hilton Head listings as it helps us sell the sizzle.  Read the rest of this entry

 One shot at a great first impression – Buyers no longer jump in the car to check out a property.  In fact, over 90% of all real estate searches start on the internet.  Therefore, just as important as mowing the lawn and painting the front door in anticipation of the buyer are high quality photos and content on the internet.   We all have passed over the listing with dark photos and “Great House” in the remarks looking for something better.  The first impression makes a difference more than ever on the internet. Read the rest of this entry

If you’re currently trying to sell your property in the Hilton Head Area, great news: it’s about to get very, very busy for you and I.  That’s because national real estate experts are projecting that this spring will see even more home buying activity than is already expected for this time of year. Read the rest of this entry