An update from David Crowell:

Dear Friends,

The last two years have been uniquely difficult in the housing market. The good news is here, and it needs to be trumpeted: The cost of home ownership is at its lowest in decades! 

Consider the following:

• Interest rates are as low as they have ever been, and are today 42% lower than in April 2006 (at the height of the boom)
• Single family residences are priced at least 25% less than at the height of the boom
• The combined financial effect is a 55% DISCOUNT in the cost of home ownership

Understand and practice talking about it. For example, “You can own a $500,000 home at the cost of a $230,000 home!” OR you can own a $500,000 home but make half the payment!”  We all need to say to our clients:

“If you are lucky enough to be a BUYER versus a SELLER in this market, there is NO remaining rational reason to delay. This is the very best moment in decades.”

Any client who needs convincing should be encouraged to call me or one of my team. WE BELIEVE IT!!! We will confidently SELL for you!

Warm Regards,

David Crowell § Senior Loan Officer

Mortgage Network, Inc. § Hilton Head, Since 1997

The Village at Wexford § 1000 William Hilton Pkwy, S205

Hilton Head, SC  29928

Phone: 843-842-4004 § Asst. 843-341-0128

dcrowell@mortgagenetwork.com 

 www.mortgagenetworksouth.com

Dear Friends, Clients and Fellow Associates~

The next four months or on Hilton Head Island will be busier than ever before.  The market has been building with 3 properties selling per day in October and in November we are now averaging 4 properties sold per day.  We will see more sales in the “off season” as buyers rush to grab the lower interest rates and better properties offered. 

Opportunity is when luck and timing collide.  If you are lucky enough to visit Hilton Head Island this winter you will discover timing.  The low interest rates, the return of the stock market and the buyer tax credit will affect our limited supply of real estate during our off season this year.  Of course, the “off season” offers many reasons to visit including “off season” access, “off season” accommodations, “off season” pricing, “off season” negotiations, “off season” weather and bottom of the market.  A buddy of mine told me  recently “the real estate bottom is so close, you can reach out and touch it”.  We are now negotiating bottom or below bottom!

Bottom will wait for no one.   Take action now and book a trip to Hilton Head Island this November, December, January or February.  Prices are now stabilizing and properties are selling.  If you wait until spring, you will pay a higher price   Call your REALTOR today.  Before your arrival have your agent set you up with a  free private MLS Link to start getting you familiar with the properties offered.   This is a great way to do some research prior to your arrival via internet. 

You will lose money if you wait.  Interest rates are set to go up in March 1% or more.  This means you will lose 10% of your purchasing power if you wait til summer.  Make your plans now.  We have lenders that contact us daily with money offers that are beyond belief, we have Jumbo lenders that have 80% Jumbo Money and very low rates.  In fact, we have Interest rates that start as low as 3.5%.  It is important to ask your Realtor to put you in touch with a lender before your visit.  Money talks when you negotiate and by spending a few minutes with a lender on the phone, you will save a few thousand dollars(or more) in your negotiation.  Be sure to ask your lender for a  prequalification/comfort letter!  This is almost the same as a cash offer when it comes to negotiating. 

You will lose the best property if you wait.  We currently offer for sale the power of three including superior locations, incredible interiors and unbelievable pricing.  These properties always sell first.  If you wish to take advantage of these you must make plans to visit the Island before everyone else does.  Although this has been a constipated market in the past, everything is moving now!  Some of the best Hilton Head deals include a 1.5 million architectural home now offered for only $849,000, a new oceanfront under $4, incredible villas $400 –  ,unbelievable homes under $800k, fantastic estate homes over $800k +, unbelivable villas over $400, and chance of a lifetime land opportunities, these properties and locations cannot be beat!

Buy in the “off season” and enjoy it “in season”!  If you are like most of our visitors to Hilton Head, you travel to Hilton Head Island during the seasons of spring, summer and fall.   The reason we are telling you to act now is that we don’t want you to be upset when you visit!  The best deals will be made this winter.  In fact, no one can argue that we will ever have better properties, better prices, better locations or better interest rates than we have now.   Market has created opportunity, one that we most likely will never see again!   

From an Island that offers opportunity,

We are~

Robbie Bunting & Jane Hyers

P.S. ~ The last 4 recessions were officially announced an average of 522 days (17 months) after they were over.  How are you going to get the best property at the best price?  Buy it in our off season and enjoy it in season!

Dear Clients, Friends & Fellow Associates ~

Of course, your real estate agent will meet you on the beach with a StarBucks to see which villa offers the best sunrise view, they will take you out in the boat to see a waterfront property or they will show you the greens, but they also have the resources to provide you with the logical reasons to buy now. 

Many of our buyers understand the emotional reasons and feel the heartstrings that are driving them towards a purchasing decision, however they usually do not have a clue about the logical reasons that support these other two.  Through the years we have developed a program that demonstrates many of the logical reasons.  This analysis shows the costs of ownership, the interest rates, the purchase price, some potential tax benefits and the rental income (if chosen). 

• Brand New Ocean Front Home Click here for a Sample Property Analysis
• Palmetto Dunes two Bedroom Click Here for a Sample Property Analysis
• A Home on the Golf Course Click here for a Sample Property Analysis

The samples above are for various types of properties.  We would be happy to send you a property analysis on any of our properties seen at www.robbiebunting.com (you can also search the MLS by clicking the link at the top of our listing page)

With over 200 days of sunshine, moderate winters, subtropical temperatures, the natural beauty, 12 miles of beaches, and limited availability of an island this market offers all the emotional reasons that work on our heartstrings. Just last Saturday I took a long walk on the beach with my son’s with the morning fog of the low country rolling in and found mine!

Many purchasers are making their future decisons now as the market offers some great buyer benefits.  One client recently purchased their retirement home on the Island even though they are 10 years away(they will rent it in the meantime).  The money they will save and the equity they will build makes this a wise decision. 

With the Timing that is before us we suggest you getting your foot in the door now!  Visit our website www.robbiebunting.com for the latest listings or seach our MLS(noted on the top of our listing page).  We look forward to helping you find your place on Hilton Head. 

From a Beautiful Island supported by very logical reasons,

We are~

Robbie Bunting and Jane Hyers

P.S.  If you are thinking of retiring here someday, keep in mind we need more long term rental properties! Buy now and rent until you move later.   Click here for more information!

Dear Friends, Clients and Fellow Associates~

 I asked Jeff Althoff an agent with Beaufort County Farm Bureau to help us all understand insurance in the Low Country.  If you are looking for a comparison to your existing policies, or getting ready to buy a home or villa please feel free to give Jeff a call!  All the best…Robbie

 Buying homeowners insurance in the low country

There are different policies for various types of homes or condos, but the essential elements are coverage for the home structure, its contents (your stuff) and personal liability for your injury to another. In addition, living in the Low Country means we have to be concerned with wind coverage, as well as flood and earthquake. We will review each of the major coverage areas:

Dwelling – Coverage A – This first section covers your home structure from most common hazards or perils such as fire. You want to buy a policy that provides for the home to be insured for its replacement value (cost to rebuild the home not market value of the real estate.) Note that most policies exclude coverage for flood, earthquake, wear and tear and damage from insects.

Other Structures – Coverage B – This coverage is for structures that are not attached to the home, such as garages, storage sheds, playground equipment, and swimming pools.

Personal Property – Coverage C – This part of the policy insures your contents or the stuff you own. The coverage applies whether items are located at home or away from the premises. The limit found on most policies is usually some percentage factor of the base home amount. You want to be sure it is enough. Some items that have significant value should be insured separately such as jewelry, guns, antiques, fine arts and collectibles.

Loss of Use – Coverage D – This part of the policy covers additional costs for living expenses while your home is being repaired due to a covered loss.

Personal Liability – Coverage E – The homeowners policy covers your legal liability, attorney fees and judgments for causing personal injury or property damage to others. There are exclusions, but essentially this protection is in place for third parties that are hurt while on your premises or that you damage while away from your house (not in a vehicle).

Medical Payments – Coverage F – This coverage is to pay for minor injuries to guests in your home. For example, if your neighbor’s child is injured while playing at your house and needs to go to the emergency room for stitches.

Wind Coverage – The Low Country is considered a high risk for damage due to high winds such as hurricane or tropical storm. Depending on your location, you may have the wind coverage included in your policy, or purchased separately through the South Carolina wind insurance pool. This coverage usually carries a percentage deductible based on the value of the house.

Flood – Most policies exclude the flood hazard. Coverage is available through the Federal Government National Flood Insurance Program (NFIP). In the United States, more damage is done to homes from flood than any other type of claim! Don’t overlook this coverage even if your mortgage company does not require it.

Earthquake – Living in the Low Country does present exposure to earthquake. There is a fault line that runs through the area. Coverage usually can be added to the homeowners policy as an option.

How to save money on Insurance

Shop the market – This can be a lengthy process so give yourself plenty of time. Policies vary greatly from one company to the next. Do you want the services of a local professional insurance agent or are you ok dealing with that 800 number?

Increase your deductibles – You can save significant premium dollars by increasing your deductibles. Did you know that most homeowners policies never have a claim? Save some money but make sure you are comfortable with the amounts should a claim occur.

Insure your home for the correct value – Don’t confuse the market value of the home with its replacement cost. Remember you need enough coverage to rebuild the structure. You are not insuring the value of the land, just the house.

Look for other Discounts – Most companies will give credits or discounts off the premium for having or adding things like alarms, sprinkler systems and storm protection. In addition, some insurance companies offer discounts for having your auto insurance in addition to the homeowners policy. Many other discounts are available so make sure you ask about all that you may be entitled.

Maintain good credit – Companies use an insurance score based on your credit for determining your premium. So, the better your credit the lower you premiums!

Final Thoughts

It is hard to remember all the stuff you have after a major loss. You should take an inventory of your possessions and all the items in your home. Save receipts for the big ticket items purchased and consider taking pictures or videos throughout your home. Keep these records in a safe place.

Make sure you consider the financial stability and integrity of the insurance company where you are purchasing your policy. In today’s turbulent economy, big things are happening in the financial sector, and you want to be with a company that will be there for you should you need them at claim time. No one ever asks how much the policy cost after a major loss!

Jeff Althoff, Agent

Beaufort County Farm Bureau

PO Box 4488

Beaufort, SC 29903

Ph:   843-522-0031 Ext. 234 

Cell: 843-812-2921

Fax: 843-522-0785

jeffalthoff@scfbins.com

 Are you looking for Life, Health or Long Term Care Insurance? Ask me, I can help!

 “Helping You Is What We Do Best!”

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 Clients, Friends and Fellow Associates~

The other day a client that was considering a villa purchase and heard that insurance was expensive in this area.  He was from an area that offered lower insurance rates, but higher taxes(Long Island).  As we compared our rates and taxes to his taxes and rates we found that ours were lower.  However when we compared lifestyles and temperatures on Hilton Head Island to Long Island we come out way ahead. 

A Newbies guide to Insurance coverage on Hilton Head Island:

Insurance for Villas on Hilton Head

When you purchase a villa or condo the Insurance for the structure is typically billed by the regime fee.  The regime fee usually covers part of the insurance costs for the year and as insurance is billed annually, the regime will bill the owner for any shortfalls.  A policy every owner should get on their condo or villa is for contents and liability.  These policies are typically under $1,000 per year.

The three parts of Insuring a home in the Low Country. 

1. The first part is your homeowners coverage.  Your Homeowners Policy will cover your home for losses due to fire, lightning, water pipe leaks, as well as liability, in case someone is hurt on your property.
2. The second part of the Insurance is the wind coverage. This is issued through the SC Wind & Hail Association. Typically we see homes listed with a 3% deductible. To explain what that means – if you have damage caused by a regular wind storm, the deductible is 1% of the home value. If you have damage done by a “named storm” or hurricane the deductible is 3%.
3. The third part of the Insurance is flood coverage. This  will be offered through the Federal Flood Program. The maximum coverage is 250,000 on the dwelling and 100,000 contents. This is a Preferred Flood Program and those are the set limits.

If you have any questions regarding insurance or wish to shop your current programs we have listed three agents and the companies they work for:

Insurance agents on the Hilton Head Island

Jeff Althoff, Agent
Beaufort County Farm Bureau
PO Box 4488
Beaufort, SC 29903
Ph:   843-522-0031 Ext. 234
Cell: 843-812-2921
Fax: 843-522-0785
jeffalthoff@scfbins.com

Teena Farrell, CISR
Agent/Broker
Seacoast Insurance
843-341-1676
tfarrell@seacoastinsurance.com

Don Earnhart
Kinghorn Insurance
1160 Fording Island Road (Hwy 278)
Bluffton, SC, 29910
843-837-8000
Dearnhardt@kinghorninsurance.com

If you need a home or villa, right now the pickings have never been better.  If you cannot find it in this market you will never find it.  Please visit www.robbiebunting.com for home, villas, lots and visual tours!

Happy insuring…

Robbie Bunting & Jane Hyers

800-932-3652

robbie@robbiebunting.com

Dear Clients, Friends & Fellow Associates ~

If you live in Beaufort County, you probably have some questions regarding the Beaufort County Reassessment 2009.  I asked a Cerified Residential Appraiser to address my questions and she would be happy to address yours.  Of course, she can also help you appeal your taxes if you are interested.  Please read on:

A note from Marsha Rabun:

By now, all Beaufort County property owners should have received a property reassessment in the mail. The SC state legislature has mandated a reassessment every 5 years. The last assessment was dated December 31, 2002 so the current assessment date is December 31, 2007. This is necessary to compare all properties in the County at a single point in time.

For a home that has not transferred title, the assessed value of each property in Beaufort County is capped to a 15% increase by a state law passed in 2006. It is capped at the 15% increase, if it does not transfer title, for the next 5 years, if no physical changes are made to the property.  For instance, if your assessed value in the last assessment was $300,000, the current capped value could not be higher than $300,000 + 15% of $300,000($45,000) or $345,000.

Also due to the state law passed in 2006, if your home HAS transferred title by sale, to/from a trust, or by will since January 1, 2007, there is a Point of Sale reassessment(AKA Assessable Transfer of Interest) which MAY be greater that the 15% capped assessment on the property had it not transferred. If it transferred in 2008, its value  will be “trended back” to the December 31, 2007 date based on comparable properties-like properties in a similar location selling at that time. 2009 sales have not been considered at this time. 
            
As a homeowner on Hilton Head Island, you may not be satisfied with your assessed value and may think it needs to be appealed.  There are few important points to remember and consider:

1.  The date of the taxable value placed on your property is December 31, 2007 and that date cannot be changed, although the market value may have declined.  Sales from 2007 and as late as very early 2008 may be considered as comparables, not sales later in 2008 and 2009. Think about what your property was worth in December 2007, not today. 
2. If you feel your property is assessed incorrectly due to significant discrepancies in physical data, -factual errors-in overstating living area  and features, this may be grounds for an appeal. However, if these errors that have been made are in your favor, an appeal may bring them to light and you may end up with a higher but at least more correct assessment. If you have questions about the physical characteristics of your property, you may go to www.bcgov.net, and under Departments, go to Assessor’s and go to Property Max and enter your last name or tax account number to find living area and other features considered.    
3. Most market values should be within a reasonable range of market value as of December 31, 2007. Remember it is the “Taxable Value” that is important. Assessor’s office personnel are available for questions at 843-470-2522(Beaufort, 843-757-1500X 226(Bluffton), 843-341-8411(Hilton Head Island).
4. If you would like to appeal your taxable value, you have 90 days from the date of the notice from the Assessor’s office to file the appeal.  You can file the appeal yourself, or have an “Authorized” person file an appeal for you. Only certain people may be “Authorized” including Attorneys, CPA’s, Corporate Officers, Full Time Employees, Partners , Fiduciaries, IRS Agents, and SC Licensed Certified Appraisers. There are several good appraisers in the area who could act as your authorized representative since they would also be able to do an appraisal of your property as of December 31, 2007 which would be helpful in proving your case. Real estate agents and brokers cannot be authorized to act on your behalf unless they also fall into one of the other categories. Proof of eligibility and written consent from the owner/taxpayer must be provided to the Assessor. 

I hope this information has been informative. Please let me know if I or any of my colleagues may assist you in appealing your new taxable value.

Cordially,
Marsha W. Rabun
SC Certified Residential Appraiser #2691
Rabun Associates LLC
P.O Box 23674
Hilton Head Island, SC 29925
Office Phone-(843)686-3344
Cell Phone – (843)384-3214
Email – marsha911@hargray.com

Dear Clients, Friends & Fellow Associates ~  

Regarding your recent Beaufort County Assessment notice.  Please note the market values are as of 12/31/07.  If you are considering an appeal it is suggested that sales used to defend the appeal be within six months before this date.  The assessors will acknowledge any sale that was pended before this date. 

We would be happy to provide additional information to help demonstrate value.  Please give Jane Hyers a call at 800-932-3652 and she can provide the information you need or refer you to one of our tax appraisal friends.

Thank you,

Robbie Bunting

A note from Don Earnhart:

You asked me about what you could tell to your current customers and customers who are looking for property in the Low Country.

If you have a current policy, I would suggest you contact your current insurance agent and ask for a yearly review of all your policies. Things do change in everyone’s life over the years and so do the reasons for having insurance. If they aren’t happy with what they are hearing from their agent, then call another local agent and get a proposal from them.

You and your customer are always welcome to give me a call.

Thanks,

Don
Donald O. Earnhardt
Kinghorn Insurance Services, Inc
Producer
P. O. Box 1820
Bluffton, SC  29910
dearnhardt@kinghorninsurance.com
843-837-8000
843-837-0948 Direct
843-837-4600 Fax

Dear Friends, Clients and Fellow Associates~

I asked my good friend and financial strategist, David Crowell to put together some rates and thoughts of the market for your review.  This guy is really the Guru of Finance and Strategy. 

If you are even thinking of buying, refinancing or are simply researching real estate, fill out the Free Strategy Session Questionnaire and we will set up a free financial strategy meeting with David Crowell.  His office will schedule a phone or in office appointment with you.  You can fax this easy questionnaire back to 1-866-680-1137.  If you plan on owning someday or own right now, you have everything to gain.  (Be sure to ask him about his free refinance for life program for his clients when you meet!)

Enjoy this great fall weather…

Robbie Bunting & Jane Hyers

A note from David Crowell:

Dear Robbie,

I am taking a minute to give you my assessment of the real estate market. Obviously, as the largest lender in the area, we see lots of people, and we see lots of transactions. So this gives us a different perspective.

First,  Market Values. Because a number of properties on the market are selling as a result of foreclosure and “short sale”, apparent values can seem extremely low. For example if someone in a $600,000 neighborhood is foreclosed, and the bank sells at $250,000, this causes enormous heart-burn. It does not however mean that everyone else’s home is now worth $250,000! It means that there is downward price pressure, but not a call to 911. Conclusion: A sensible buyer needs to be happy for the current bargain prices, but not be seduced into thinking that everything is a “steal”.

Second,  Interest Rates. This is simple and often over-looked in this market. Rates are at ALL TIME LOWS . the government’s effort to push them down HAS WORKED. Property is roughly 25% less expensive to own due to rates alone than it was 3 years ago. Add that to pricing discounts of 20% across the board…..and you have a discount to the cost of ownership of 45%. This is truly amazing and not sufficiently emphasized.

Third,   Availability of Financing. We have money coming out of our ears! We have jumbo loans up to $3 million! We have FHA financing for 1^sttime homebuyers up to 96.5%, which coupled with the $8000 rebate is 100% financing.

There simply is NOT an availability issue. What is different? Pretty much the sole significant difference is that down payments for most homes (not first homebuyers)  now need to be 20%. We find that there is virtually no borrower who cannot find the necessary down payment somehow or other.

Last, Over-all Assessment. We are busy as can be. Much of our time is spent helping folks who are heavily invested and need to lighten the load. But for anyone who is in the position to be a Buyer…..this is the very best of times. There is literally NO REASON for a potential Buyer to hold off at this time. Neither the pricing or the rates are going to improve. The thing that will improve is attitudes, and when they do, the pricing will be gone! The rates are good for another 6 months or so, and then they will be gone too when inflation starts to hit. So if you have anyone who is hesitant……let me tell them firmly  that it doesn’t get any better!!

Anyway, hope this sums up my state of mind on a Monday morning! Best to all, David.

David Crowell

Senior Loan Officer

Mortgage Network, Inc.

1000 William Hilton Parkway

Suite 205

Hilton Head Island, SC 29928

Office: 843-842-4004

P.S.  ~ We have attached a FREE FINANCIAL strategy session with the guru of financial strategy.  Simply print it out by clicking a Free Strategy Session Questionnaire, please fill it out and fax it back to 1-866-680-1137.  David’s office will call and schedule your session either in person or in office.  Thank you.