We had a great summer on Hilton Head Island. We hope you did too!  Some highlights included 320 sea turtles nesting on our beaches, our new Shelter Cove Towne Center Grande Opening, the addition of new Sea Pines amenities and a record breaking rental season.  As the busy summer season winds down, we move into timing opportunities for Hilton Head Island for property owners, buyers and sellers.  Read the rest of this entry

It took me 4 years to sell a house.  Let me explain.  This was not just any house, it was my home.  It had my sons feet and hands and even Granma V’s feet and hands pressed into the new concrete drive when it was built in 1998.  It had notches marked into the bookshelf as our boys grew into teens(and some friends too).  Many happy memories were made in this home and we loved it. Even my wifes yoga instructor felt the positive energy.  It was emotional and valuable. Read the rest of this entry

By Todd Brooks

Indications show that the 2010 rental season will be better than the 2009!

The landscape of the vacation rental industry has changed over the last several years.  The trend has been to book vacation plans closer to arrival date.  The vast amount of information available on the Internet has enabled the potential guest to check availability and have numerous selections to choose from, eliminating the “sense of urgency” that we experienced in the prior years.  As the economy weakened, the mindset of the traveler was to hang on to their money as long as possible. Read the rest of this entry

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 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

Palmetto Dunes ~  Top Ten Benefit List

•  Palmettto Dunes is conveniently located mid Island on Hilton Head.   This location offers convenience to the north or south end of the Island and you are literally minutes, not not miles away from shopping, dining and all Hilton Head offers.
• Palmetto Dunes offers 2,000 acres and is designed with a resort core that includes the Marriott Oceanfront Resort, The Palmetto Dunes Tennis Center, The Robert Trent Jones Golf Course, PD Outfitters, Alexanders and the General Store in a central and convenient just outside the gates for everyone to enjoy.  The benefit is the roadways 
   and nieghborhoods are only accesible by guests, owners and visitors
• Palmetto Dunes offer 4 distinct neighborhoods offering something for everyone.  These communities include:
             *  Shelter Cove ~ A community designed around an inland marina
             *  Leamington ~ Located on Ocean Lane.

           * Mariners Section ~ Located within the north gate(residential & villas)
           *  Inverness Section ~ Located just in the south gate(residential & villas

• Palmetto Dunes offers an 11 mile river lagoon system that is the centerpiece of the community.  This waterway offers natural beauty and provides the community with excellent drainage. 
• Palmetto Dunes offers three championship golf courses.  The benefit includes flexible play and membership programs to the guests and owners in Palmetto Dunes.
•  Palmetto Dunes resort core offers resort villas with convenience to the ocean within the gates of the community. 
• Palmetto Dunes offers membership to the Palmetto Dunes Club located within the south gate of Palmetto Dune.  The Palmetto Dunes Club is a wonderful place to meet your neighbors, share common interests and activities, and establish lasting friendships.
• Palmetto Dunes Golf, Tennis, Outfitters and rental company are owned and operated by Greenwood Development.  This company has taken care of these amenities for years.
• Palmetto Dunes and Leamington have an Architectural Review Board(ARB) to ensure residential integrity and protect property values.  As homes are built or remodeled, approval must come from these boards. 
• Palmetto Dunes offers the perfect blend of resort and residential living on Hilton Head Island.   
   

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 love the old qoute from President Kennedy…”ask not what your country can do for you; ask what you can do for your country”.  You and I must do our part.  Face it, real estate is bigger than the auto industry, bigger than banking and we can turn it around by working together.  If you are a client, seller, buyer or fellow agent there are a few things we can do for our Country and Hilton Head Island!

For my clients on Hilton Head(and everywhere):  

You hold one of the keys to recovery.  You can help turn this economy around simply by cutting and pasting the next two paragraphs and e-mailing them to 100 names in your contact list.  By adding more buyers into our market, things will move faster.  We need for you to push this along and send them this message. 

Act now….Buy Hilton Head Real Estate!

“This is the very best of times to buy real estate in Hilton Head. There is literally NO REASON to hold off anymore. 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(and inventory) are good for another 6 months or so, and then they will be gone too when inflation starts to hit. So if you are hesitant……let me tell you firmly  that it doesn’t get any better!!     You need to move now and contact my finance and real estate guy on Hilton Head Island.”  said David Crowell of Mortgage Network(a guru of financial strategy)

To get started send Robbie Bunting(My Realtor) an email at robbie@robbiebunting.com .  He will send you a package on all the wonderful real estate opportunities offered on Hilton Head Island.   Simply fill out the Pre Strategy Session worksheet(which can save you thousands in negotiation and fax it back to 1-866-680-1137.)  

For my sellers on Hilton Head Island: 

Stand your ground.  You either want to sell or you want to stay…you cannot do both.  Right now there are buyers that are actively seeking properties, but they will not buy an overpriced listing.  If you are not serious in selling, take your property off the market. 

If you are serious in selling.  My suggestions to sellers includes:

• Adjust the value(you may need to adjust 5-10% before you see showings or an offer)  BUYERS INTEREST IN AVAILABLE LISTINGS
• Offer a $5,000 closing allowance for the next 30 days.
• Spend $5,000 in improvements(call your agent and have them do a walk through with you.  Only “sharp properties are selling”

Doing something is better than taking no action at all.  Do something, better yet do all three!

For my buyers on Hilton Head Island: 

Don’t miss the bottom.  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?  By making an offer today.

Have you called your realtor recently?  If not, pick up the phone and encourge your REALTOR.  Hearing from you will motivate them and start the process that will help turn this economy around. 

For my Fellow Agents on Hilton Head Island: 

Our country needs you to sell.  Don’t let the economy bring you down.  We need you right now to work harder than you ever have.  You can help turn this economy around.  Your job right now is very important.  So let’s all start encouraging buyers, sellers and fellow agents to take action.  Don’t forget to build the value of  Hilton Head with your buyers…and call your sellers and tell them they are in denial if they have no showings or offers at this time of year.  As salespeople we need to take charge, encourage, use good news, communicate and push harder.

In summary:

Our country and Hilton Head Island need you to get off the fence.  Nothing else can turn this economy around.  You can do it!  We will help.  Thank you.

Live life fully on an Island!

Robbie Bunting & Jane Hyers

 P.S. The last 4 recessions were officially announced an average of 522 days (17 months) after they were over.

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