Dear Friends, Clients and Fellow Associates~

I have many clients that look to evaluate their real estate holdings every year for their estate.    Some of my clients are satisfied with a brokers opinion, others want a more formal document.  In fact, if you own property right now one very good reason to have your property appraised is to take advantage of the very low interest rates available.  Below is a recommended appraiser and all round good guy that can help you with this process.

Real Estate Appraisals on Hilton Head Island

There are many reasons for an appraisal such as: Insured Value Updates, Estates, Trusts, Dissolution Values, Tax Appeals, Listing Price Opinions, Purchase Offers, Purchases, and Mortgages.  Most identify the need for an Appraisal with a Mortgage Loan.

The past few years have been the most challenging since I began my Island Area Appraisal Career in 1988.  Many in the profession have seen an increase in requests for Listing Price Opinions.  Most Property Owners requesting a Listing Price Opinion are tired of not receiving offers, confused by a wide range in suggested listing prices, or just over exposed to our many real estate advertising outlets.  Sellers just want an opinion from someone who is independent and won’t profit by the outcome.

When I take an assignment, I explain that the outcome of the Appraisal is between the Property Owner and the Appraiser.  The Appraisal outcome is only disclosed to another party if requested by the Property Owner.  Additionally, Federal Regulations prohibit the use of the Appraisal for Lending if ordered by anyone other than the Lending Institution.  Finally, an Appraisal is time sensitive since it is based on a point in time in an ever changing market.

Hope this helps, Bruce.

Bruce A. Goff, Owner Bruce A. Goff, Inc.
PO Box 4652 / Hilton Head Island, SC 29938

SC Professional Appraisers Coalition, Board/Past Chairman

SC State Certified Residential Real Estate Appraiser, CR29
Licensed SC Real Estate Broker / SC Real Estate & Appraiser Instructor
Voice: (843) 686-4444 / Cell: (843) 683-4444 / Fax: (843) 686-4858

Website: www.brucegoffhhi.com  / Email: brucegoffhhi@yahoo.com

Dear Friends, Clients and Fellow Associates~

We missed the bullet!   Hilton Head Island is 97% developed with a limited and finite resource of land and we did not have the investors and flippers buy our real estate.  Of course, the beauty of our market right now is we have a surplus of inventory on Hilton Head Island, but this will change faster than these other areas.  Hilton Head did not have much land or huge coastlines to develop.  As a potential buyer getting ready to purchase Hilton Head Property it is very important to know the rules associated with our market.  Therefore we have put together a list of rules for buyers below for your review.

Rules for Buyers on Hilton Head Island

Rule #1  – Know the Market

Buyers need to know the market trends of the area they are buying.  Some of the things they should look at are days on the market, number of listing in their price range, selling price per square footage by neighborhood, percentage of listing  to selling price and of course absorption levels.  Each segment of our market is different and cannot be negotiated the same way.  The Island market simply does not behave like other markets because of its geographical size and the quirkiness of being a blend of residential and resort real estate.  In fact, it has been said that the Hilton Head Market is more insulated than other places and is one of the last one into a recession and one of the first ones out.

Buyers Rules for Buying Property on Hilton Head Island(or anywhere else)

Rule #2 – Choose only ONE Agent

Choose to work with only one agent that you know and trust.  Of course, you can hire the agent as your “exclusive buyers agent”, but if you are not ready to buy, you do not need to hire an agent just yet.  Here are some other helpful hints in working with agents:  1.  Communicate frequently with your agent  2.  Let other agents know who you are working with when you attend open houses  3.  Do not call the listing agent if you have a buyers agent, let your buyers agent do their job  4.  Keep in mind agents are commission only and get paid only when they find the right property that suits your needs.  Tell your agent your time frame and turn them lose!

Rule #3 – Get ready to BUY.

There are three very important parts of purchase that you should be ready for before you find the perfect property.  These include 1. Pre Strategy Session.  The benefits of being pre-qualified is that you can save thousands in negotiation, but more importantly lower priced no financing contingency contracts may be considered and chosen because of the financial situations now.  If you are pre-qualified you can have the confidence to write a no financing contingency contract.  2.  Have your checkbook ready.  Typically earnest money in our area ranges from 5-10% of the purchase price.  3.  Credit scores matter right now and you should know yours.  If you get pre-qualified, the lender will take care of this for you and advise you. 

Rule #4 – Take the Eight Hour Test

If you make the decision to purchase and cannot sleep a good eight hours the night before you meet with your agent, it may not be the right time to buy.  My financial strategist always told me this before I went ahead on some of my bigger purchases.  This simple rule will keep you from making the wrong decision.  If you sleep great and are relaxed in the morning, it is OK to go ahead and jump in!

Rule #5 – Prepare the offer Properly

Buyers have the potential of losing their dream property in negotiations. Just the other day a buyer was negotiating their dream home on the Island and even had a higher offer but they lost their chance to buy the home.  Any time there are contingencies, all parties must sign off on them for the contract to be valid.  During this stage the seller is still free to entertain other offers.  This is where the problems arise as other buyers can move in without giving you the chance to raise your offering price.  If you do your home-work, write in fewer contingencies and keep the negotiations moving the chances of winning are better. 

Rule #6 – Recognize Real Estate on an Island is Seasonal

If you are buying property on Hilton Head, it is important to know which season you are in during negotiation.  Of course, during the busier months if you find a property you will want to negotiate faster and get a signed contract before someone else comes in and makes an offer.  In the off season, you may move a bit slower unless it is an especially hot property.  Moving the negotiation process along is very important once the first offer is submitted.  Don’t sit back and relax until the contract is signed by all parties and delivered.  When it is done, it is time for a victory dance!

Rule #7  –  Don’t LOWBALL realistic prices

You will not get a property that is priced correctly at a low ball price.  Realistic sellers are getting close to their asking price in this market.  In fact, the average list to sell price for our properties has been 93% of asking price for homes and villas.  If you are looking to get a property for pennies on the dollar perhaps you should look in other places(click on this link). Remember, it is not how much you pay it is how much you get.

Rule #8  – Don’t ever give up!

Buyers are giving up to quickly.  If you make an offer and it is countered, do not give up.  I just went through a negotiation with my buyer and at least 2 times they were ready to give up and go back out shopping for a different home.  It came down to a $5,000 decision in the very end, and fortunately they stayed in the game and got the best home, in the best neighborhood at the best price.  Do not draw a line in the sand without being prepared to step over it and redraw it again especially in this market.

Rule #9 – Enjoy the Journey!

This is important.  Buying real estate should be fun.  The pressure that you feel to purchase is all internal and never should it be external.  If you want it, go ahead and get it.  However, do not let an agent, a seller or a buyer put pressure on you to buy(only your spouse is allowed to do this).  Buyers’ need to know that the right property is available in today’s market and they should enjoy the journey and find it.  Not all markets are like this.  Have fun and go out and find your personal paradise with an agent that you know and trust!

In Summary:

As a buyer you have the power of all three including great location, great condition and incredible value.  One or two of these will disappear as the market stabilizes.  If you do decide to play the game, we hope the rules above are helpful.  Of course, feel free to contact us anytime to get you started in researching some market areas of choice.  We look forward to seeing you achieve your dream.

Enjoying fall on an Island,

We are,

Robbie Bunting & Jane Hyers

Dear Friends, Clients and Fellow Associates~

We all need a fix it guy(or gal).  Whether it is before we list a home or after we sell a villa there is always something that needs to be fixed on one of our properties.  In choosing a repair person, I want someone that is both reliable and resourceful.  Trust enters this equation and I really want someone that is going to go the extra mile.  My recommendation is Bobby Plott.  I have had him do big stuff and small and he is always on time and works within a budget. 

Below is a recent email from Bobby:

Dear Robbie:

I want to take this opportunity to thank you for the many Remodel and Inspection Report referrals you have sent to me.   I feel that I have performed all of your clients jobs in a quality, timely and fair-priced manner.   I take pride in the work I do, and am very conscientious in making property owners pleased and satisfied.

As you know, I was a SC licenced builder here on Hilton Head for 15 years, before relocating to Florida about 4 years ago.  Because of my love for the Island and personal connections, I came back almost a year ago.  I am very skilled in all aspects of home building and remodeling, including major and minor repairs both exterior and interior.   Whether you need rot repair, kitchen or bathroom remodels, deck building, CL-100 report repairs or anything of that nature, I am available for you.

I will contact you about the Queen’s Grant CL-100 work and have that completed early next week, after the tenant’s check-out.

Again, thank you very much and the best to you and Jane Hyers.

Sincerely,

Thank you,  

Robert Plott Jr.
Ph: 843-684-0768
rplott@gmail.com
PS – I will gladly offer to your clients a Free Estimate on any job, big or small!

The Fall Open Houses on Hilton Head have begun! 

Email us or visit www.robbiebunting.com  for a schedule of the fall open houses.  We will be opening homes around the Island.  What better way to get a feel for the home and the community.

In addition, be sure to print out theOpen House Closing Bucks Certificate that we offer on these select properties!  We would be happy to validate this coupon by e-mail, just let us know.

Below are this weeks open houses that will be open Sunday October 4 from 1-3.  Please call us for a gate pass and directions at  842-0805 or email us at islandrealtor@hargray.com . 

Palmetto Dunes Open Houses

(click on address below for photos and visual tours)

#8 Port Tack….better than chocolate.

#59 Heath Court….love actually!

Forest Beach Open Homes

#6 Robin Street…beach cottage with ocean views!

See Visual Tours of all our properties by Clicking HERE+++

We will be hosting several open houses in the next few weeks.  If you cannot attend the open house and would like a private tour of these homes, please just let us know.  We can be ready in 30 minutes or less!!

Thank you,

Robbie Bunting & Jane Hyers

Today is our five year working together anniversary.  We have put together a team of knowledge built on a high level of service.  Below is our announcement that we sent out 5 years ago….we look forward to another great 5 years serving you!  Thank you!

Let’s Welcome Jane Hyers to the Robbie Bunting Team! 

Jane’s previous position was with the Island Multiple Listing Service (MLS) and she knows all the Island REALTORS® very well.  Please feel free to call Jane anytime.  Her direct line is (843)842-0803 and her e-mail is islandrealtor@hargray.com, she would love hear from you!

Dear Friends, Clients and Fellow Associates~

Here’s the scoop.  Purchasing a lot is a great way to build equity and a future plan. For most future residents, a lot purchase on an Island makes sense because it does not require a lot of expense or maintenance.  Of course,  many of our lot owners hold these properties and build on them or sell them some day.  In the meantime, they build equity and get their foot in the door.  

Realize the dream.  Think about the first time you crossed the bridge or the last time you walked on the beach.  If you want to to think about it on “the way home” be sure to pick out two lots, as it is quite likely one will sell. 

As agents we should mention lot ownership with all our buyers.  Lots are the easiest form of ownersip on Hilton Head.  We currently have lots that are being sold at land values that are hard to pass up.  Some even offer owner financing.  In fact, right now Realtors are even buying lots because of the values they offer.  It is that good!

Remember “whoever owns the last lot on Hilton Head wins!”

Call on us.

Happy Selling!

Robbie Bunting and Jane Hyers

Dear Friends, Clients and Fellow Associates~

Timing is everything.  I asked my favorite builder to give me some insite on the building industry now and what are the reasons he has been busy these past few years.  He took some time and answered my questions.  If you have questions feell free to contact him anytime, his name is Scott Bunting and his cell is (843)384-7468 his email is SBunting@buntingcompany.com.  He not only has a higher expectation of quality, he is approachable and is a straight shooter.  Below are some questions and answers:

Allow me to answer your questions one at a time…

First, Why build now?

There are actually many good reasons to build right now. Think of the economy from a different more positive point of view for a moment. Subcontractor, vendor and supplier prices are very low at this time which makes building costs significantly lower than previous years. For example, the National Association of Home Builders Housing Data shows that the framing lumber prices are at their lowest, $235 per 1,000 board feet, since 2004 where it was at $431 per 1,000 board feet. Also, residential window and door sales have been steadily decreasing, forcing many companies to begin selling their products for a lesser price. According to Ducker International Forecast, shipments are down almost 30 million from 2005 when they were at their peak of sales/shipments.

For people curious about building who don’t own a lot or home already, it is a great time to buy. The combination of near record low mortgage interest rates and the outstanding selection of inventory on the market make now the best time to purchase a property and build. According to the National Home Builders Association, “there may never be another buyer’s market as good as today’s.” Real-estate is predictably cyclical; ultimately, prices will increase as inventory declines and demand increases.

By purchasing a property for a lower price now, you can customize and build a home built specifically for you and your family.  Building today is a great and smart investment for tomorrow!

Second, what are construction costs now?

Construction costs vary from house to house depending strongly on the owner selections and changes made through the building process. According to the National Association of Home Builders the average price per square foot of floor area in a new one-family house in the United States has been steadily decreasing since 2006 when it was at its highest in 15 years. According to the data, the northeast region of the U.S. is most expensive while the southern region is least.

Third, How to choose a home site?

Home site selection is all personal preference. Depending on what kind of home the owner wishes to build and what type of atmosphere they wish to live in; whether they wish to live in a nice school district, have a beach front view, or live in a quiet secluded forest area. It is all up to the owner. Recent trends show that lot prices are lower and the costs of older homes that could be torn down is also low which could sway a property buyers decision.  Bunting Construction Company, Inc. will build anywhere.

And finally, How long does it take to build a great home?

From the beginning of the Design/Build process to the point in time where the Certificate of Occupancy is approved, Bunting Construction Company strives to completethe project in less than a year. The building process can vary  depending on the owner’s selections and changes throughout the project.
 
Scott Bunting
Bunting Construction Company, Inc.
www.BuntingCompany.com
Office: (843) 842 – 9033
Fax: (843) 842 – 9209