Why is that when we get one buyer interested in a property, others show up at the same time? While this is not a rule, it happens in the Hilton Head Real Estate Market.  Sometimes it is triggered by a price change that brings the price closer to the true market value and sometimes there seems to be no logical explanation whatsoever.  Below are some reasons why “when it rains it pours” in the Hilton Head real estate market. Read the rest of this entry

Hilton Head Buyers won’t pay over fair market

Used to be that if we priced our properties a bit high we would still get an offer. Today with an “overstocked” market we now have to be within 3-5% of what the property is expected to sell for before we even get an offer to work with. This is because buyers can now go “window shopping” with their computers.  Buyers today do not have to physically visit a property to determine value. This takes the bidding process out almost altogether. If the buyer does not see value when they are “window shopping” on their computers they don’t ever step foot in the property, hence no showings or even bids on overpriced properties. Read the rest of this entry

An agent called the other day and presented an offer 70% off the adjusted asking price.  We understood the buyer(agent) was trying to negotiate with the seller….but it seemed to me the agent really set their buyer up for disappointment.  The first thing that popped into mind was “Do they really want to buy this home?”  and “Who really came up with this price?”  Typically when a buyer makes an offer this low, it usually means they do not understand the present real estate market and it is our job as professionals to move them closer to reality.  Usually buyers need more information and will proceed if we better manage their expectations.  Our recent market trends reports helps our sellers and buyers better understand the Hilton Head Real Estate market and sets them up for success.  In this case, similar properties were selling for 11% on average off the listing price. So how did this buyer determine offering 70% less?