We have attached the link to the 2010 February Market Study. This report shows the activity in the real estate market in a very recent snapshot. Below is a quick summary of this report: Read the rest of this entry
The days of no interest, no payments will soon be gone at Rooms to Go. If you want either Vacant Home Staging or just some additional pieces of furniture and not make a payment on until 2012 please let Kalyani know ASAP. The last day to be able to order is 2/15/10! I’d need to have everything ready to be ordered by then.
Kalyani Persons
Home Staging In Paradise
www.HomeStagingInParadise.com
Kalyani@HomeStagingInParadise.com
843/815-4412
Deadlines are rapidly approaching for Tax Credits for first time home buyers and home sellers considering moving up. The Worker, Homeownership, and Business Assistance Act of 2009’s tax credit of up to $6,500 for qualified move-up home buyers ends April 30, 2010. You can purchase by June 30, 2010 but must have a binding sales contract signed by April 30, 2010. The first time buyers tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence also ends April 30, 2010. A purchase completed by June 30, 2010 (with a binding sales contract signed by April 30, 2010) may qualify.
Historically low interest rates, historically low housing prices in most areas and great values in the move up home market make this the perfect time to act. Call me for a free consultation to run the numbers for you. Don’t miss out on the great values!
There is a strong indication that loans handled by FHA Mortgages, will be changing in the near future. These FHA backed mortgage programs are going to be adjusted or even overhauled. These changes, depending what the changes are, will most likely influence the real estate market as a whole.
During the real estate boom the use of FHA mortgages dropped to around 2% of the loans. That figure has shot up to 25% and even higher in some markets. Any substantial changes to FHA lending requirements could affect in some cases, the most active segment in many real estate markets.
Congress is pressing on FHA to tighten the standards toward borrowers. The options on what they will do to tighten these standards are broad and could include increasing FICO scores, require more amount of the down payment and reducing Seller contributions to closing costs
All these have been expressed and are being explored and if you are a buyer that needs an FHA loan, the time to act is now! Don’t take a chance on time…email us today at robbie@robbiebunting.com or call us toll free at m1-800-932-3652 to get your foot in the door now!
Dear Clients, Friends & Fellow Associates ~
The slower pace, the lights, the festivals, the people, the uncrowded restaurants and the weather are just a few blessings we must enjoy to become a local. December’s moderate winter temperatures on the Island are perfect for a beach walk, a round of golf, tennis, a run or a long bike ride.
Given the lower interest rates, many purchasers seeking “warm and wet” are taking advantage of the great pricing and properties offered. Already since December 1, 2009 we have sold 54 properties through our Multiple Lisiting Service. Smart money is shopping real estate right now! In fact, this is the best time to shop as the pace is slower and the access to properties is easier.
If you live here or plan on visiting, below are some suggestions for you to enjoy with family and friends this coming Holiday:
If you have a question about the events above or need any information on the properties offered, please feel free to contact us anytime. We love the calls and there really is nothing we like to do more than to help you.
From a magical Island,
We respectfully are~
Robbie Bunting & Jane Hyers
843-842-0805 ~ islandrealtor@hargray.com
P.S. We have some very special Holiday Resort Rates at the Oceanfront Hilton in Palmetto Dunes. Let us know if you can break away or need a room for overflow during the Holidays.
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:
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 & 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.
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
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.
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
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
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
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
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
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
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
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 1sttime 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.
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
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