April 12, 2010 by cloeffler ·

While they dominated the housing market in 2009, first time home buyers weren’t the only ones taking advantage of low mortgage rates and affordable home prices.

According to recent survey by the National Association of Realtors®, the number of people buying second properties as vacation homes rose 7.9 percent to 553,000 in 2009 from 513,000 in 2008.

The market share for vacation homes rose to 10 percent, from 9 percent in 2008, and the median home price for a vacation home was 169,000 dollars in 2009, compared to 150,000 dollars in 2008.

Read the rest of this entry

Buy and rent on Hilton Head Island

My financial guy explained a simple concept to me today.  He explained that in the past few years, families could rent for less than they could own a property.  However now that the long term rental markets are firming up, owning is now becoming cheaper than renting.   Factor in the low interest rates and the values around the island and real estate investments make sense. 

Buy a home and rent it until you move to Hilton Head!

If you could freeze time, their would never be a better time to buy a home or villa on Hilton Head Island.  The values and some of our properties offer premier locations, pricing below replacement costs and are simply priced to sell.  Buying a home and renting it until you are ready to move or retire with prices below replacement on Hilton Head make sense.  what are you waiting for? 

By Todd Brooks

Indications show that the 2010 rental season will be better than the 2009!

The landscape of the vacation rental industry has changed over the last several years.  The trend has been to book vacation plans closer to arrival date.  The vast amount of information available on the Internet has enabled the potential guest to check availability and have numerous selections to choose from, eliminating the “sense of urgency” that we experienced in the prior years.  As the economy weakened, the mindset of the traveler was to hang on to their money as long as possible. Read the rest of this entry

Rental properties never looked sooo good on Hilton Head!

Rental properties may have taken a beating in value but have kept on ticking when it comes to rental income.  While some values have dropped on rental properties as much as 30% on Hilton Head Island, the gross rental income has stayed fairly constant as vacationers recharge their batteries.  Recently purchasers have warmed up to rental properties as they negotiate some very sweet deals on some of the best properties. 

Short term rental properties are defined as weekly or nightly rentals on Hilton Head Island.  Many owners sign up with a rental company to manage and rent their property and subsidize their rental income with a VRBO type internet site.  Here is a sample rental proforma from a great oceanfront villa we offer for sale.  Whether long or short term rental is chosen, we can help you choose the right rental company for you and your property, simply email us at islandrealtor@hargray.com .

Short Term Rental Properties on Hilton Head Island

1. Villas offer peace of mind as regimes or condo associations actively manage and care for the properties.  We refer to both townhomes and condos as “villas” on Hilton Head.  Most often these properties are owned by out of state owners that rent these properties on the short term rental market when they are not using the property themselves.  The Island offers 1,2,3 and 4 bedroom villas in rental areas including Sea Pines, Palmetto Dunes, Forest Beach, Shipyard and Folly Field. 
2. Buy a rental home on Hilton Head Island.  Many villa owners later sell their villas and purchase a rental home that they rent short term until they move permanently to the Island.  Restrictive Covenants in communities often will dictate whether a home owner can rent their property by the week.  On Hilton Head Island, short term rental homes can be found in Sea Pines, Forest Beach, Shipyard, Palmetto Dunes and Folly Field.(please click on the links in villas to see the top ten reasons to buy property in each of these communities)
3. Buy a Quarter Ownership on Hilton Head Island and use two or three weeks(or more) and rent out the rest.  Quarter-ownership includes 13 weeks of ownership with premier locations in Shipyard, Port Royal and Shelter Cove.  These are both hassle free and headache free as the management company handles all the details.
4. Buy a Bond on the Beach.  While the Condo units at the Oceanfront Hilton Resort in Palmetto Dunes are a registered security, they offer owners the possibility of visiting the Island during owners meetings and upon availability.  Email for price and information details or visit www.dunessecurities.com for further details.

Long Term Rental Opportunities on Hilton Head Island

1. If you could freeze time, their would never be a better time to buy a home or villa on Hilton Head Island.  The values have been beaten down and some of our properties offer premier locations, pricing below replacement costs and are simply priced to sell.  Buying a home and renting it until you are ready to move or retire with prices below replacement on Hilton Head make sense.  what are you waiting for? 
2. Buy a lot, build a home and rent it until you retire.  I have a friend that was a teacher up the north that did just this.  During the 80’s she purchased a home site and built a home.  For the next 10 years she than rented her home until she was ready to retire.  Given lot costs that are lower than I can even remember(1999 prices) and competitive building costs, timing has never been better.

Buy when everyone is selling and sell when everyone is buying!

These resort properties are located in some of the best areas of the Island and are either priced with immediate sale pricing or offer some negotiation.  Many of these sellers and their agents have realized to create a sale, the property must offer compelling pricing to attract a potential buyer.  Unfortunately there is a very limited supply of homes and villas on an Island, so it is better to be here now, than to show up later!

Partnership programs are now available on Hilton Head Island!

We now have partnership programs available on homes and villas around the island.  These programs are offered by existing owners or are groups being set up to buy properties in these premier locations.  For more information, please email us at islandrealtor@hargray.com

Are you satisfied with your rental income on Hilton Head?

Rental companies typically rent a property on Hilton Head 12 weeks in the summer, 6 weeks in the spring and 6 weeks in the fall.  The typical owner than occupies their rental property an additional 4 weeks.  Under this scenario, you can double your rental income with a minimal amount of work.

Increase your rentals on Hilton Head with your rental company!

Some rental companies allow the owner to rent direct and collect the income, others will let owners rent, but will only reduce the commission.  The best scenario is to find a rental company (or negotiate with your current rental company) to allow you to rent your property direct filling in those empty weeks.   The perfect rental company will allow you to rent your own property and they will handle the keys, the passes for your rental, any emergencies and will charge you a reasonable fee for the checkin and cleanup.

Market your Hilton Head Rental Property on the Web!

To get started all you need are some photos of your property, a photo blog and an internet rental company.  You can either do this yourself or call on us  or your realtor!

Steps to take to increase your rentals on Hilton Head Island:

1. Set up a “free” posterous blog for your property.  Use this as your main page for your rental property.  Posterous is a free blog that allows you to post photos and information about your rental property.  Just pick a great name and go.  It also uploads to your Facebook, Linkin and your website very easily. 
2. Set up a VRBO rental website.  The website will walk you through the process for setup.  The fee for this setup is $249 per year and will pay for itself with the first rental.  Be sure to set up your rental calendar with a link through your posterous blog.
3. There are also free rental websites that can add additional income to your bottom line including www.craigslist.com, www.base.google.com, and www.free-rentals.com

A system that works for your Hilton Head Rental Property.

Once you have the rental websites in place and you have updated your rental calendar by checking in with your rental company, it is time to get ready for business.  The initial contacts will send you an email and reply time is crucial.  Assign this task to someone that is on their computer throughout the day. 

How an inquiry will rent your property on Hilton Head:

1. The first email will inquire about availability, location to the beach, pool location and other specific requirements the rental guest may have.  Prior to recieving this email, set up a draft e-mail that includes a few additional photos of your property, beach and pool information.   Simply check availability before responding.
2. The second email will ask you how much you charge and will you take less?  Set your rental at the same rate as the rental company as it makes it far less confusing.  We suggest paying for cleaning and taxes from the total, giving the renter approximately a 10% savings which you can  explain in your email as most renters pay these in addition to the rental fee. 
3. The third and final email, ask for the order!  Your final email let’s them know that if they are interested you would put it on hold and send out the rental agreement.  (Ask for 50% with the reservation and the remaining 50% approximately 30 days prior to their arrival.)Once you have a rental guest that has made the commitment, simply call your rental company and block that time(be sure to change your rental calendar to reflect this.)  Send out the rental agreement with two postage paid envelopes for the deposit, the 30 day final payment and the agreement.  This is a good time to include directions maps.google.com to the rental company and your property. 

Renting your Hilton Head Island property is that easy!

As you rent your property we have found that their are some excellent websites that can help you or your rental guests including: Trip Cancellation Insurance, pet traveling ideas, a great place to find linens and towels, and a good traveling with kids website.  Some other ideas include calling or emailing your rental guests after their visit asking if they had any suggestions.  As well, pet friendly properties are gaining appeal and you can even charge pet fees! 

We are at your service on Hilton Head Island! 

As you work through the steps above, we are here to help.  We offer a service that is available to help you set these up for a nominal fee if you are interested!   E-mail us at islandrealtor@hargray.com or call us at 800-932-3652 as we will help you get these programs up and running before the rental season of 2010. 

Happy renting!

Robbie Bunting & Jane Hyers

800-932-3652

Dear Clients, Friends & Fellow Associates ~

“The Winter” offers great weather on Hilton Head Island. Currently we are enjoying “chamber of commerce” days on the Island with temperatures in the 70’s and 80’s, blue skies and spectacular sunsets. The Island is kept warm by thermos(ocean breezes) over the warm sea. These sub tropical temperatures on Hilton Head Island are perfect for snowbirds or real estate shoppers looking for a warm weather escape. In fact, the winter is described as the sports season with perfect weather for golf, long beach walks, biking, tennis and other outdoor activities.

The Real Estate Market is quite busy with the market building from the bottom up and the top down. We are selling villas and homes under $750,000 at a fairly regular and predictable rate. With the forecast that interest rates may be on the rise in Spring 2010, buyers right now are seizing a timing opportunity for property, price and rates. 

As the market heals, we are seeing more activity in the upper price ranges on the Island as buyers bring their equity from up North to Hilton Head Island. The middle of our market are properties priced $800,000 – 2 million and offer much value after 2 years of adjustments.  

Of course, we have can arrange special travel packages at discounted rates for your next visit with our corporate agreements with other rental companies.  So before booking a villa, home or resort on Hilton Head Island, let Jane and I know your dates and preferences for your visit(by e-mail) and we will see how much we can save you.

From a great Island to visit in the Winter Months~

We are~

Robbie Bunting & Jane Hyers

P.S.  For a special mini-vacation package on Hilton Head +++CLICK HERE+++

P.S.S.  For October’s Market Trends Report for Hilton Head Island Properties +++CLICK HERE+++  Please visit www.robbiebunting.com for more our properties and to seach the MLS.

Dear Clients, Friends & Fellow Associates ~

This week we met several Islanders that offer great services on the Island.  Of course if you are looking for great properties please visit www.robbiebunting.com.  Please feel free to contact the following direct or email us if you have any suggestions.

Montgomery Law Firm 

Hunter Montgomery has helped my wife and I with several of our purchases through the years and started his own practice.  He is a very personable guy and a great real estate attorney.  Attorney fees that Hunter charges are $475 for purchasers and $400.00 for sellers and refinances.  Contact Hunter Montgomery located at 200 Main Street, Suite 201-J by calling (843) 301-5267 / (843) 681-5583 (fax)  or email wahm@mindspring.com

Ocean Tides Spa

Sandy Norris at the Ocean Tides Spa is highly recommended.  With a special $75 treatment which can include A Calming Currents Massage, The Tides Stone Massage, or The Dive Deep into the Tissue Massage.  Call Sandy Norris at (843)341-8056 and make an appointment with her.  You will love heading  down to the Oceanfront Hilton in Palmetto Dunes and can even pretend you are on vacation for awhile before and after your massage.  The Hilton has a great beach, wonderful wine bar and a calming presence.  Enjoy.

ForeShore, Property Management and Marketing

If you are thinking of Rental by Owner Services for your Hilton Head Property, contact Brian Tierney (a local)and he will send a welcome package or meet you at your property(or the property you are considering).  His fee is 22% for marketing and cleaning which is very competitive and he starts at 15% if he only promotes the property.  He will get you up and running on VRBO and other internet websites and does a great job.  Brian Tierney can be reached at 843.564.5538 or on his cell at 843.304.9192.  Email him at brian@foreshorerentals.com

Gentle Spray

Ted Brammer did a great job powerwashing my home.  In fact, I now do this every year.  The benefits include looking new again, getting the north side mildew off the home and cleaning up my service yards and driveway.  The fee is reasonable and beats renting or borrowing the equipment and doing it myself(I tried and this and will never do it again!).  Call Ted Brammer at (843)671-2929 or email him at gentlespray@hargray.com

Full Service Accounting

Janett Morris has done my book keeping for years now and I must say that it has not only saved me money as she reviews my billings, it has also saved me time.  I have taken this time to sell more.  She has 30 years of experience and picks up and delivers payroll and bills.  Call Janett at (843)422-4298 or email her at Janett_Morris@yahoo.com

We hope that these contacts serve you well.  Please be sure to mention to that you found their contact information on our blog!  Thank you.

From a great Island with great People~

WE ARE~

Robbie Bunting and Jane Hyers

robbie@robbiebunting.com

Dear Friends, Clients and Fellow Associates

If you are thinking of moving to Hilton Head sometime in the distant future, it makes sense right now to take advantage of the selection of properties, the low interest rates and rent it until you make your big move.  I have many friends that bought their property before they made the move and rented it.  Some have rented for over 10 years before making this move.

If you are interested in exploring this program with us, let us know and we will set you up on a Free Research Link for homes, villas and lots on or off the Island.  This is the hottest new program and you will love the ability to reseach these properties from your home or office staying anonymous until you are ready.   As well, right now we have demand for rental homes(see below).  Email us at robbie@robbiebunting.com to get your Free Research program set up. 

The market is moving…are you!

All the best,

Robbie Bunting &
Jane Hyers

A Message from Keith Miller, Owner of Miller Long Term Rentals

If you have a buyer that is interested in buying a house to take advantage of the lower prices and interest rates, but they are not ready to move at this time, they should consider buying and placing their purchase on the long term rental market. The inventory of  available homes under $2,000 is very low. Meaning a rental ready home priced under $2,000 has a good chance of renting well.   Let me know if you have any further questions.

Keith A. Miller, PMIC
Miller Long Term Rentals Inc.
4 Dunmore Court, Bldg A, Suite 102
Hilton Head Island, SC 29926