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.

We are celebrating our Two year Anniversary at Hilton Head Properties.  These first years have been amazing and we appreciate the support we have received from our clients and friends. We know we are in business because of you and will never take this for granted. Read the rest of this entry

We hope everyone had a memorable Thanksgiving Day last week and enjoyed the long holiday weekend.

With December officially upon us, residents can expect temperatures to continue to dip as we head into the New Year.

So today, we wanted to share with you some relatively easy home improvements that you can make that will save you money during the winter months.

Home Tips for Saving Yourself Money This Winter

Here are 10 home improvements that you can make this winter that will save you both money and energy:

Caulk around windows and doors, making sure that all cracks and holes are sealed. This will keep the cold air out of your house, which will keep your heater from working overtime. If necessary, you might also consider adding or replacing weather stripping.

Add area rugs to your tile and wood floors. This creates an extra layer of insulation in your home and also makes it easier to walk around your home in bare feet during the winter time.

Install glass doors that close off your fireplace. This will not only keep cold air from coming down and through your house but it will also prevent warm air from escaping through the chimney. Also, if you use your fireplace, make sure to close the flue when you’re finished.

Insulate your attic door. For instance, you can buy covers for your attic staircases or openings. This will actually help you reduce energy costs all year long.

Cover your windows. Even if you don’t have storm windows, you can create your own with a window insulation kit. And inside your house, consider using insulated drapes.

Buy Insulated Garage Doors and Exterior Doors. Typically, the garage doors that come with most homes aren’t insulated. You can change that to save on energy costs.

Add insulation to your home throughout. This includes in the attic as well as the crawl space, garage and basement. Experts recommend that you add insulation if you haven’t done so in more than 20 years.

Reverse Ceiling fans. Some people may not be aware of this but you actually have the option of reversing your ceiling fans. Running them counterclockwise makes it cooler during the summer months but by making them clockwise, they will circulate warm air back into the room.

Replace your furnace filters. Just like with anything else, dirty furnace filters will make it work less efficiently. Generally speaking, filters should be changed every month during the heating season.

Replace your outdated furnace altogether. If your furnace is older, you might consider purchasing a newer unit that is going to produce more heat with less energy. Just make sure that you get the right size for the space you have.

If you want to take your home-savings even further this winter, you can check out the U.S. Department of Energy’s do-it-yourself energy audit on their website. Or you can call a contractor and request a professional audit.

Offering You National Home Advice You Won’t Find Anywhere Else

We hope you found this information helpful as a current home owner.

Please be sure to check back soon as we continue to provide you with useful and relevant real estate information!

Ready to get out and take a look at some great properties after your Turkey Day Feast.  Just click on the photo for a visual tour.  If you would like the scoop on any of these properties or to schedule a showing anytime this weekend, email us at Robbie@robbiebunting.com or call (843)785-7111 ext. 1.  Thank you.

4th Row Ocean on Hilton Head

Close to everything in Palmetto Dunes

All on one level in Palmetto Dunes

3 acres Deepwater Daufuskie

Ready to get out and take a look at some great properties after your Turkey Day Feast.  Just click on the photo for a visual tour.  If you would like the scoop on any of these properties or to schedule a showing anytime this weekend, email us at Robbie@robbiebunting.com or call (843)785-7111 ext. 1.  Thank you.

3 Bedroom in Barrington $519,000

Leamington…$519,000

Oceanfront 2 Bedroom with rentals over $60,000 per year

Two Bedroom over 1600 heated…awesome for $329,000

Wonderful Oceanfront 3 Bedroom

Great Home on the Island for $235,000!

Bankruptcy sale for $1,499,000

On the lagoon in Palmetto Dunes

3rd row ocean in Palmetto Dunes

Palmetto Dunes 7627 Huntington $419,000

Meet Darcey Sundling with HiltonHeadPropertiesRandR.com.  Darcey is the property manager for vacation homes and villas on Hilton Head Island.  The best way to explain the benefits her company offers is with the short video above covering these key questions.

• How can you increase my rental income?
• How will you take better care of my property?

If these questions make you wonder, call Darcey!

This is the best time of year on Hilton Head Island to consider making a change. In fact, there is no commitment whatsoever to find out what we can do with your property. Please contact Darcey Sundling at (843)785-2242 or via email at darcey@hhprandr.com. We are building relationships long after vacation is over!

More and more home buyers are returning to the US housing market because they’re noticing favorable market conditions.

Specifically, buyers are feeling more comfortable about navigating the market thanks to interest rate stabilization and easier mortgage rules, according to a recent article by Reuters.

This is fantastic news for the overall health of the housing market. After all, it suggests that the national real estate market is likely to become more stable over time.

Trends That US Home Buyers Should Be Aware Of

According to the recent Reuters article, new home builders D.R. Horton Inc and Toll Brothers Inc. are seeing jumps in home buyer demand.

And they’re not the only ones.

In fact, new home builders everywhere are reporting improved home buyer enthusiasm, which has been a great relief to many of the companies after an underwhelming spring home selling season.

And pre-owned home sales are also reflecting similar home buyer enthusiasm levels.

Here’s what else the national home buyer should know about recent trends on the housing market:

• Interest rates decreased in October to their lowest levels since June 2013
• In fact, these interest rates are still considered to be at historic lows.
• The Dow Jones U.S. home construction index increased about 4 percent this year so far. And this increase came after the index already doubled between January 2012 and January 2014.
• Meanwhile, new proposed rules will allow buyers to purchase homes with down payments as low as 3 percent.

The proposed rules are great news for first-time home buyers, who are a key part of any housing market recovery. In fact, some experts believe that the housing market recovery will speed up as soon as more first-time home buyers enter the market.

And a faster housing market recovery is good news for everyone!

Meanwhile, In Canada…

The real estate market conditions in Canada are looking just as encouraging, with Canadian resale home prices continuing to rise in October.

Prices were up 5.4 percent from a year earlier, which is right on par with September’s year-on-year gain.

What’s more, October marked the 11th month in a row that the index has increased. Still, it should be noted that prices rose in only five out of the 11 metropolitan markets surveyed.

Prices rose 1.2 percent in Vancouver and rose 0.5 percent in Calgary. Toronto saw prices decrease 0.2 percent.

Your Central Source for Housing Market News

Check back here soon for more valuable updates on the current state of the national housing market and how they may impact you as buyers and sellers.

We pride ourselves on offering you relevant and reliable information that will help you make the best real estate decision possible for you and your family!

Price Improvements for End of Year Shoppers

Step into the New Year with a fun Hilton Head Property.  Right now interest rates, great values, great properties and fantastic rentals make this the perfect time to purchase a Hilton Head property.  As well, buying this time of year allows you to hit the ground running in the new year with rental income.  If you are ready to get started we have listed below some great villa opportunities on Hilton Head  Island below.  Call us anytime for more information on any of these properties.  We can email you floor plans, rental histories(noted below), additional photos, expenses of ownership and the seller disclosure on file, simply email us at Robbie@robbiebunting.com or call me anytime at (843)785-7111 ext 1.  Thank you.

Just Click on any of the Photos below for the visual tour and more information. 

41 The Moorings in Palmetto Dunes $339,000(over $25,000 in owner direct rentals)

39 Fazio Villa in Palmetto Dunes – $329,000 ($25,000 to $30,000 projected)

7627 Huntington Villas in Palmetto Dunes – $419,000(over $37,000 in 2014)

9B The Links in Port Royal – $449,000 (over $30,000 in 2014)

602 Barrington Park in Palmetto Dunes – $539,000(almost $40,000 projected)

422 Captains Walk in Palmetto Dunes – $749,000 (over $60,000 in 2014)

441 Captains Walk in Palmetto Dunes – $948,000 (over $70,000 in 2104)

Meet Terry Sundling with Absentee by the Sea.  Terry helps second home owners keep an eye on their property from afar.  His company makes routine visits to home and villas, oversees projects, cleaning services, is a first responder to alarm systems, hurricane preparation, coordinates service personnel and completes photo documentation of  the properties under his care. 

Not only does this help the owner keep up with their property, but these records can build value in the resale.  Absentee by the Sea also completes a walk through after every rental handled by Hilton Head Properties R and R assuring that everything is in place for the next rental.  This proactive approach helps owners address any issues before they become problems. 

Please contact Terry Sundling at (843)422-5064 or via email at terry@absenteebythesea.com .  You can also visit AbsenteeByTheSea.com.