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.

Palmetto Previews is my companies quarterly publication.  It is mailed to all Palmetto Dunes, Shelter Cove and Leamington Property owners as well agents mail this every quarter to their buyers that live off the Island.  With a distribution of over 35,000 copies we have recently started distributing this publication to the Oceanfront Marriott and the Oceanfront Hilton Hotels.  It is also distributed all through Palmetto Dunes and Shelter Cove in easy take one racks. 

Dunes Marketing Group is the only real estate company in this publication. 

The newspaper style newsletter offers Island events, interesting articles about the Island and real estate information across the Island.  This seasonal guide also offers shopping and dining information for Palmetto Dunes. 

Click here for the FALL/WINTER Palmetto Previews

If you have interest in any of the articles or would like more information on any of the properties please email us at islandrealtor@hargray.com .

All the best~

Robbie Bunting

800-932-3652

P.S.  To search other properties or the MLS on Hilton Head Island +++CLICK HERE+++

Dear Clients, Friends & Fellow Associates ~

“The Winter” offers great weather on Hilton Head Island. Currently we are enjoying “chamber of commerce” days on the Island with temperatures in the 70’s and 80’s, blue skies and spectacular sunsets. The Island is kept warm by thermos(ocean breezes) over the warm sea. These sub tropical temperatures on Hilton Head Island are perfect for snowbirds or real estate shoppers looking for a warm weather escape. In fact, the winter is described as the sports season with perfect weather for golf, long beach walks, biking, tennis and other outdoor activities.

The Real Estate Market is quite busy with the market building from the bottom up and the top down. We are selling villas and homes under $750,000 at a fairly regular and predictable rate. With the forecast that interest rates may be on the rise in Spring 2010, buyers right now are seizing a timing opportunity for property, price and rates. 

As the market heals, we are seeing more activity in the upper price ranges on the Island as buyers bring their equity from up North to Hilton Head Island. The middle of our market are properties priced $800,000 – 2 million and offer much value after 2 years of adjustments.  

Of course, we have can arrange special travel packages at discounted rates for your next visit with our corporate agreements with other rental companies.  So before booking a villa, home or resort on Hilton Head Island, let Jane and I know your dates and preferences for your visit(by e-mail) and we will see how much we can save you.

From a great Island to visit in the Winter Months~

We are~

Robbie Bunting & Jane Hyers

P.S.  For a special mini-vacation package on Hilton Head +++CLICK HERE+++

P.S.S.  For October’s Market Trends Report for Hilton Head Island Properties +++CLICK HERE+++  Please visit www.robbiebunting.com for more our properties and to seach the MLS.

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 Clients, Friends & Fellow Associates ~

Of course, your real estate agent will meet you on the beach with a StarBucks to see which villa offers the best sunrise view, they will take you out in the boat to see a waterfront property or they will show you the greens, but they also have the resources to provide you with the logical reasons to buy now. 

Many of our buyers understand the emotional reasons and feel the heartstrings that are driving them towards a purchasing decision, however they usually do not have a clue about the logical reasons that support these other two.  Through the years we have developed a program that demonstrates many of the logical reasons.  This analysis shows the costs of ownership, the interest rates, the purchase price, some potential tax benefits and the rental income (if chosen). 

• Brand New Ocean Front Home Click here for a Sample Property Analysis
• Palmetto Dunes two Bedroom Click Here for a Sample Property Analysis
• A Home on the Golf Course Click here for a Sample Property Analysis

The samples above are for various types of properties.  We would be happy to send you a property analysis on any of our properties seen at www.robbiebunting.com (you can also search the MLS by clicking the link at the top of our listing page)

With over 200 days of sunshine, moderate winters, subtropical temperatures, the natural beauty, 12 miles of beaches, and limited availability of an island this market offers all the emotional reasons that work on our heartstrings. Just last Saturday I took a long walk on the beach with my son’s with the morning fog of the low country rolling in and found mine!

Many purchasers are making their future decisons now as the market offers some great buyer benefits.  One client recently purchased their retirement home on the Island even though they are 10 years away(they will rent it in the meantime).  The money they will save and the equity they will build makes this a wise decision. 

With the Timing that is before us we suggest you getting your foot in the door now!  Visit our website www.robbiebunting.com for the latest listings or seach our MLS(noted on the top of our listing page).  We look forward to helping you find your place on Hilton Head. 

From a Beautiful Island supported by very logical reasons,

We are~

Robbie Bunting and Jane Hyers

P.S.  If you are thinking of retiring here someday, keep in mind we need more long term rental properties! Buy now and rent until you move later.   Click here for more information!

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 Friends, Clients and Fellow Associates~

We asked Cary Griffin of McNair Law Firm to provide a list of communities and their respective transfer fees for buyers, sellers and agents.  Simply click for a readable (and printable) list of these fees below:

                                       Plantation Dues & Transfer Fees 2009

 Please do not take a chance on time…the costs are low for what you get.  Come dance on the beach and enjoy life now!  

All the best,

 
Robbie Bunting &
Jane Hyers

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