Dear Clients, Friends and Fellow Associates~

Real estate is like hockey.  I started thinking about this the other day when I was watching my son play ice hockey in Charleston. My son’s coaches tell the players to “keep their heads up” as they skate with the puck down the ice.  Hockey players keep their heads up or become easy targets by the other team members!  As I thought about this advice, I realized that this was smart advice for hockey or in business.  By keeping our heads up our attitudes are better and we are less likely to get knocked down as we head towards our goal.

You cannot play hockey or real estate sitting on your butt. 

My dad told me this when I first started my career in real estate.  Realtors and Hockey players may get knocked down from time to time if they are in pursuit of achieving their goals.  It is that simple.  If you have not been knocked on your butt it means you are not in the game.  The key is to get off your butt and skate or sell.

Real Estate and Hockey both require contact. 

My mom taught me that real estate is a contact sport.  As in hockey, real estate agents need to be shoulder to shoulder with their client in order to close a sale.   In fact, my mom had a buyer and seller in a stalemate and rather than trying to fight it out, she invited both of them to breakfast together.  She believes in contact and she closed the deal. 

Real Estate agents and Hockey players must stay focused on the goal. 

As you head towards your goal it is very likely you will have outside pressures that can take you further from achieving them.  The key is to stay focused and never give up.  As a realtor or hockey player it is important to know what your goals are and work towards achieving them.

Real Estate agents and Hockey players need coaches. 

A good coach helps agents and hockey players achieve and see things differently.  My coach has pulled me forward in business strategy.   Not only does he make me focus on my daily game, he is alway improving my skills and planning the next game.  Hockey coaches work the same way, the only difference is as an agent I appreciate not having to do suicides after losing my last sale.

So if you are a hockey player(like my son) or a real estate agent(like me) the key to making a goal or making a sale is to keep your head up, listen to your coach, focus on the goal and don’t ever give up.  I look forward to working with you in the future as we head towards our goals together.

From an Island without Ice,

 
Robbie Bunting & 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

Three Course Early Dining – $15

Add a Glass of House Wine – 3.25

Early bird specials, everyday 4:30-5:30.

1513 Main Street • 843.842.8866
Open Daily 5pm • Friday 4pm

Happy Hour 5 – 7 • Friday 4 – 7
$10 of bottles of wine
$1 tokens on all drinks

First Course – Choose One

House Made Pimento Cheese Dip

 Tillamook Cheddar – Smoked Gouda – Fire Roasted Sweet Peppers – Mediterranean Olives – Panzanella Crackers

Roasted Eggplant Dip

Fire Roasted Sweet Peppers – Feta Crumbles – Seasoned Pita Chips

Smoked Salmon Spread

House Hickory Smoked Salmon – Panzanella Crackers – Caper Relish

Yukon Gold Potato Chips

Fresh Chives – Gorgonzola Cheese

Second Course – Choose One

Dinner Salad

 House Greens – Crisp Garden Vegetables – Choice of: Cranberry Balsamic, Creamy Avocado Caesar, or Sweet and Sour Honey Mustard Vinaigrette

“Not so Traditional” Caesar

 Crisp Romaine Lettuce – Creamy Avocado Caesar Dressing – Manchego Cheese – Crispy Polenta Croutons

Soup Du Jour

Fresh Soups Made with Love Daily 

Third Course – Choose One

BBQ Skewers

Pork Tenderloin and Vegetable Skewer – Sweet and Smoky Barbeque Glaze – Smoked Gouda Grits – Cole Slaw

Grilled Lamb Chops

Savory Herb and Garlic Marinade – Mashed Potatoes – Grilled Asparagus

Cedar Plank Roasted Salmon

Sweet Bourbon Soy Glaze – Mashed Potatoes – Grilled Asparagus

Hawaiian Flank Steak

Teriyaki Glaze – Mashed Potatoes – Cole Slaw

Shrimp or Chicken Pasta

Angel Hair Pasta – Choice of Alfredo Sauce, Tomato Basil, or Tomato Cream Sauce

Cripsy Fish Tacos

Fresh Grilled Mahi Mahi – Roasted Corn Salsa – Cilantro Lime Crème Fraiche – Grits

Fried Seafood and Chips

Fried Shrimp – Scallops – Mahi Mahi – Cole Slaw – Homemade Potato Chips

Margherita Pizzetta

Tomato Basil Sauce – Fresh Mozzarella – House Made Basil Pesto

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.

A note from Bob Arundell:

The SC State Legislature determines to what owners property taxes apply.  During the due and cry when voters were clamoring for property tax relief(Remember California’s Proposition 13?), the SC State Legislature granted resident homeowners an exemption from paying school operations taxes. To replace those funds, the State Legislature added a 1% sales tax that goes directly to fund school operations.

One problem is that the sales tax did not bring in as much money as the property tax relief granted to resident homeowners took away. The local school board looked into imposing what is called an “impact fee” on all new construction to divert some of the cost of building new schools; however, as it turns out, the State Legislature also prohibits school districts from imposing impact fees. The local district also does not have the authority to alter the sales tax rate. Finally, in an effort to send more funds to the poorest school districts in the state, the SC Legislature passed a law that allocated the state’sgeneral public education funds based on the relative “wealth” of each county.  A county’s “wealth” is determined by looking at its total property tax base (i.e. the fair market value of all real estate in the county.) By virtue of its resort, beach oriented nature, Beaufort County was ranked as the”wealthiest” county. As a result, the local school district’s allocation of the state’s general public education funds went from a high of about $35 million to zero last year.

The bottom line is this: The Beaufort County School District is charged with educating about 20,000 students. The only source it has to increase revenues for operations is to raise the tax mill on commercial and non-resident property owners. The good news is that for the coming year, the school district has set the commercial and non-resident property owners at a level that is 10.2% LOWER than the year before! Because property values were re-assessed for the coming tax bills, the school district believes that those whose property values increased by no more than the county average (11.4%) will not have a tax increase for the coming year.

As there are far more “poorer” counties than there are “wealthy” ones, there are not enough votes to change the laws right now. Out of state owners should complain to the U.S. Congressman or Senator about how they are being discriminated for being an out-of-state property owner.

Hope this answers the question.

Bob Arundell

Tax Attorney and CPA

843-785-8040

Here is the latest on our property taxes from my friend and accountant Bob Arundell.  If you wish to contact him or ask him a question, Bob can be reached at (843)785-8040 or his email is bob@mhalawfirm.com

Robbie:

A lot of people came away from a recent article about an adjustment to the School District’s tax mill rate with the idea that their tax bill, when compared to last year’s tax bill, was going up.  THAT IS NOT CORRECT.

The complexity and nuances of public education funding makes it real easy for the average person to arrive at an erroneous conclusion.

I did a presentation to the Chamber of Commerce’s Government Affairs Committee and used a hand-out that I thought you might find useful.  It explains what really happened and why, on average, your taxes did not go up. Click on the underlined link to read more: BCSD – Tale of Two Taxes

Call me if you have any questions.

Bob Arundell

(843)785-8040