Dear Palmetto Hall Property Owners, Friends and Clients~
 
Linked below, is the Palmetto Hall Market Update .  This report shows the active listings, the current pendings and the sold properties.  Please note the average price per square foot for the actives, pendings  and solds.  This can help in determining a quick valuation by mulitplying this number times your heated square footage.  Simply click on the link below to open this report:

November 2009 Update and Market Trends Report

Buyers will rush in to get the lower rates and better properties this winter on Hilton Head Island.  Values are available in all areas of our real estate with the market now building from the bottom up.   If you are a buyer or seller we would be happy to share with you how this relates to you and your timing.  

Hilton Head Market Trend Report for November 2009

We appreciate the opportunity and trust!  It is our goal to provide exceptional service, create raving fans and help our clients and friends succeed!  Please feel free to e-mail us today or call us any time at 800-932-3652.  Thank you.

All the best,

Robbie Bunting & Jane Hyers

P.S.  Be sure to mention our FLY & BUY OFFER if you will be buying property from us this fall.  Thank you.

Dear Clients, Friends and Fellow Associates~

Listed below are the current foreclosures on Hilton Head Island.

• Homes in Foreclosures on Hilton Head Island +++CLICK HERE+++
• Villas in Foreclosures on Hilton Head Island +++CLICK HERE+++           
• Lots in Foreclosure on Hilton Head Island +++CLICK HERE+++

Listed below are the current Short Sales offered on Hilton Head

• Short Sale homes on Hilton Head Island+++CLICK HERE+++
• Short Sale Villas on Hilton Head Island+++CLICK HERE+++
• Short Sale lots on Hilton Head Island+++CLICK HERE+++

As we head into the winter months on Hilton Head Island, these final clearance items will sell.  We encourage you to look over the above lists and let us know what sale items capture your attention.  If you would like more information or have a question, simply email us at islandrealtor@hargray.com  Thank you.

From an Island offering final clearance prices,

We are,

Robbie Bunting & Jane Hyers

robbie@robbiebunting.com

P.S.  Our sellers understand the market and have priced their properties to sell! +++Click Here for great properties+++ We are proud to offer some of the best locations on the Island!!!

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 and Fellow Associates~

I once heard that one of the reasons a property may not sell is because “The seller is the highest bidder”.  Of course, sellers do control the pricing of their property and as their REALTOR we control the marketing for the property.  However, one of the services we provide every seller is value counseling throughout the listing.  This means if we see a trend up or down, we will suggest a value to a seller for consideration.  Most of the time our counsel is accepted, but there are times where we may wait literally months before a seller decides to go to that price.  Often however it is too late by then.  Here are two sellers, both of equal value homes.  One sold their home in 5 months, the other sold in 3 years. 

Seller One – Trusts the Expert on Hilton Head Island

I met Mr. and Mrs. “Geterdone” in a listing interview.  They had invited three agents that were known to sell in the neighborhood to sit down with them and make a presentation.  These sellers had purchased a new home that was being built and had several months before they needed to close.  As in every interview we went through the checklist of our double top secret marketing programs that produce results for our seller and reviewed our raving fans worksheet.

The seller hired us to sell his home.  In our conversations with the seller we explained our role and theirs.  We explained that our job was to get agents and buyers interested in his home by marketing, their job was to make the home accessible, presentable and decide on prices based on market facts.  We also explained that we would advise them on value changes in the market throughout the listing period and make suggestions for them based on the market.

We listed the home at a value chosen as competitive in the market.  Within 30 days after the first agent tour, we saw few showings and low general interest and we had completed several marketing programs that should have driven more buyers into the home.  I called the seller and told them that something was wrong and suggested they tweak the value to see if it was price.   The seller did not flinch and asked what I would suggest and I told home to adjust it 1%.  The seller immediately said “Let’s do it”

Unfortunately, we did not see an increase of activity.  This time we reviewed the market, the marketing, the accessibility, the condition and location and found nothing wrong.  We also determined that it was not the economy(because other properties were selling), the inventory or the current interest rates.  It had to be the value.  This time we suggested a much larger adjustment.  The seller immediately said “Whatever it will take, we trust you”.

The price change increased interest and showings but we went another two weeks without an offer. I called the seller and said we are close, but need to tweak the value again to cause the sale.  Without any hesitation they said “Go for it”.  Keep in mind we were still 4 months away from when they had to sell.  Within 1 week of this adjustment we received an offer that was within 2% of the asking price and only 9% off their original asking price.  Today they can honestly look back and say they saved money by trusting their agent.  

Seller Two – Is the Highest Bidder on Hilton Head

I met Mr. and Mrs. “Tinkaboutit” in a listing interview too!  They had invited two agents to review the market and help them sell their home.  This time we did not get the listing in the first go round, however we did get the call to list the home after it did not sell with the other agent.  We set our marketing into place and positioned this home in the tours.  We received very little traffic and we called the seller to review everything and determine what could be corrected.  This home was drop dead gorgeous in a great neighborhood and we should have had more interest than we had.

No activity took place in the first thirty days.  We called the seller and arranged a meeting to discuss the market, the marketing, the economy, and the sales we had had since we had listed it.  We suggested based on trends a value correction.  The seller said he would think about it.  I called several more times as we really were seeing little to no traffic and I explained that buyers remained stealth until they saw value on thier computer screens back home.  We were told that the home was worth what we were asking and it was simply a function of market.

Christmas came and the seller asked to take the home off the market through the holidays.  The problem I explained in doing this is that the Island gets busy during the holidays as owners and visitors travel to the warmer climate.  Sales take place and I did not want them to miss a single buyer.  They took it off the market anyway.

Spring came around we were contacted by this seller to  the re-list this home again.  This time we suggested a value that would sell this home in 30 days.  Needless to say the seller told us they would think about it and get back to us.  The seller chose a price 10% higher than our suggested sale price.  We moved from no chance to little chance and did not get a single offer for the rest of this entire year.

Christmas approached and the seller called and took the property off the market again!  We reminded them again about not missing a single buyer.  They did it anyway.

In the spring they contacted us to list the home and asked us what we thought the value should be.  The value we gave them was an additional 10% less than our previous suggested selling price.  This time however the seller said “Let’s do it!”  Long story cut short…we sold the home within 60 days only 2% off their new asking price.  In total this home sold for 27% less than the original asking price in just over 3 years.  This seller had chased the market thinking about their value corrections and not selling until they took action. 

In today’s rapidly changing real estate market, your real estate agent can counsel you on price trends and you should trust their recommendation.  If you would like for us to give you a valuation, please do not hesitate to call.  We have been designing selling strategies for sellers for now 24 years on Hilton Head Island and can help you.

From a market and Island that we know~~

We are respectfully,

Robbie Bunting & Jane Hyers

robbie@robbiebunting.com

800-932-3652

Dear Palmetto Hall Property Owners and Friends~
 
Linked below, is the Palmetto Hall Market Report Update.  This report shows the active listings, the current pendings and the sold properties.  Please note the average per square foot for the actives, pendings as this can help determine current market.  Please click below.

Dear Clients, Friends & Fellow Associates ~

As a Realtor on Hilton Head Island I am often asked about three things.  The weather, the market and my family.  In order to save some time, I have summarized all of these in one handy print out.  So now when I meet a buyer I can hand this to them as we jump in the car to find their paradise!

Smart Buyers will rush to buy real estate this winter.  Interest rates are forecasted to rise in spring of 2010 if the Federal Reserve stops purchasing the mortgage-backed securitiees.   We could see interest rates crossing 6% by the end of March 2010 if this occurs.   This would mean a loss of buying power up to $60,000 for a $350,000 loan.  The additional interest alone would be $108,000 more paid over the life of this loan. 

Hilton Head weather is simply better!   The Island is kept warmer in the winter and cooler in the summer by thermos or the ocean breezes over the warm sea(that is why you see people swimming in the ocean in January).  In fact, our moderate winter days are typically warmer than other inland southern cities.  As well winter months have less rain than the wetter summer months with sub tropical temperatures that are perfect for snowbirds or real estate shoppers looking for a warm weather escape.  The winter is the Island’s sports season, which is perfect for golf, long beach walks, biking, tennis and most other outdoor activities.

The real estate market is healing.  The market is healing from the bottom up and months of available inventory is decreasing in properties under $750,000.  As these markets heal, buyers with equity will be purchasing our larger properties that offer attractive pricing.  Homes will see a jump in all price points if the new housing credit passes later this week.  First-time home buyers would be eligible for $8,000, but purchasers don’t have to be first-time buyers. Anyone who has owned a home for at least five years could get a $6,500 credit on a new residence. 

My son’s are touring colleges.  Many of my clients have been buying and selling real estate with me before I had a family.  It is hard to believe for both of us that we are now looking at colleges.  My wife is a great planner and has made me realise it is important not to take a chance on time.  I pass this on to you as timing has never been better to buy real estate…please note time flies!

From Hilton Head Island with great winter weather, great prices and great families~

WE ARE~

Robbie Bunting and Jane Hyers

P.S. Baby Boomers are now turning 60 at the rate of 8,000 a day and represent 38% of our total population in this country.  The way I see it based on 2.5 million visitors per year to Hilton Head Island, we have over 950,000 of these Baby Boomers visiting the Island with about 50,000 of them turning 60 years old every year for the next 17 years.  Our recommendation is to be ahead of this herd!  We are just beginning to hear the rumble.

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