Don’t miss Hilton Head’s bottom. In case you have not heard sales are increasing and inventories are decreasing in the Hilton Head Market.  This of course will not help the seller that lives in denial awaiting 2007 prices again, but it will have impact on the seller that has been waiting around with a fair value for the location and condition their property offers on Hilton Head Island.

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Right now, distressed sellers should choose a Short Sale over foreclosure.  Given that South Carolina is a recourse state, distressed sellers or property owners that are under water with their mortgage should consider taking action now.  In Florida, Wall Street Journal reports that some banks are going after sellers that may have had their homes, condos or second homes foreclosed upon.  In fact, there are now investors buying up these deficiency judgements.  The key for distressed sellers is that in a successful short sale negotiation it is possible to convince the lender to give up their pursuit of the deficiency judgement against the property owners.  Here are some other reasons to consider a  Short Sale vs. Foreclosure.  If you  would like for us to answer your questions or better explain the process, please email us at robbie@robbiebunting.com or call me direct at (843)842-0805

Last night I got a call from a Kentucky client that owns a second home in Palmetto Dunes.  He asked if I had seen the Wall Street Journal article titled Vacation Homes: Why it May Be Time to Buy.  It states “The blue-chip market consists of a handful of spots where prices have stabilized and could soon rebound as sales pick up. Some, such as Hilton Head, have benefitted from tough restrictions on building, which kept inventories manageable during the bust. Prices there have risen by 4% during the past year.”   Read the rest of this entry