Archive for November, 2009

Hilton Head homes are selling well at all prices, like this home in Indigo Run.

Homes Priced Less Than $450,000 Are Most Popular

Several sources tell us what buyers want to pay for a home on Hilton Head:

• Responses to print ads – there are more responses in recent months.
• Responses to on-line listings, also up.
• Calls from buyers - my favorite by far, also up in recent months.  Nothing beats speaking directly with someone to learn about their interests.
• Comments from agents who talk about their experiences. 
• Hilton Head MLS statistics.   
• News articles that combine information from the above, like this article.

Opinions about the market based on personal experience can be like  like blind men who define the elephant by which part of the elephant they touch.   Statistics can be interpreted differently by different people and so all sources of information are significant.  Engineers love numbers; everyone likes anecdotes. 

I already knew that lower-priced homes were selling well based in part on the first-time home buyer stimulus of recent months, now extended.   But, I wasn’t sure about how well higher priced homes were selling.  I was happy to see that homes s in all price ranges are selling well on Hilton Head today.

The direction of prices will be for another article.  This article does not try to define whether prices are going up, down or sideways except indirectly nor do I try to address the  the sale of lots or villas - just houses.    It is understood that most of the homes sold in every price range are bargains compared to what they sold for in recent years and even one year ago. 

The numbers in the chart below are from the Hilton Head Multiple Listing Service and they summarize homes sales from the entire Hilton Head area, not just Hilton Head Island.   Hilton Head  means the entire area and this includes  more than just Hilton Head Island; it also includes Bluffton, Daufuskie Island, Okatie, Hardeeville and additional outlying areas.  For many people today, Hilton Head  means everything from Rt 278 to Sea Pines whereas Hilton Head Island means just the Island itself.  

Hilton Head Homes Sold in the Last Six Months

*S/L is the ratio of how many homes have sold in the last six months compared to the number of homes listed.  The higher the ratio, the more likely that prices will be steady or increase in the future.   A low ratio could mean that few homes are selling and prices may have to come down to achieve sales.  Most every group of properties shows a strong, healthy ratio of number of homes sold to the number of homes listed.

**C+P/S is the ratio of contingent and pended homes compared to the number of homes sold in the last six months.  This says whether the number of homes under contract shows an increase, decrease or no change from the sales velocity of the last six months.   Almost all price ranges show an increase in the number of sales and if sustained, could bring higher sales prices.

 ”Contingent” means that a contract of sale has requirements that must be satisfied before the agreement can proceed to closing.  The most common contingencies are a buyer’s satisfactory inspection and that the buyer  must qualify for a loan. 

“Pended” means that there are no contingencies to the contract of sale or that they have been satisfied and the property will proceed to close.  Many agents label “contingent” homes as “pended” but for our purposes, it doesn’t matter.

 To get the bargain home that you want in any price range, or devise a winning strategy to sell a house that you already own, please call me , the Hilton Head Gated Communities Specialist today.  

The Multiple Listing Service of Hilton Head Island that requires this disclaimer:  “The statistical data contained herein has not been verified by the Multiple Listing Service of Hilton Head Island, Inc. and the publication of information hereof is not a representation or warranty of any fact whatsoever.”

Richard Kadesch, Owner and Broker-in-Charge The Gated Community Specialist ® Go Gated Realty ® Hilton Head Island, South Carolina Rich@gogated.com www.GoGated.com 1-800-333-5025 Read Some of My Clients’ Success Stories

A villa like this one with two-bedrooms, two-bathrooms, 1,000 SF of living space was just listed at Woodlake Villas for $49,800.  The villa has tile floors, new carpet and a fireplace  Woodlake Villas are popular primary and long-term residences with a security gate, fitness center, swimming pool and tennis court located mid-Island, a short drive from the beach.

Some Beach Villas Cost Less than $75,000! 

Everybody loves bargains and the Hilton Head real estate market has them today in homes, villas, lots and commercial properties.   Bargains are not all at very low prices but did you know that today you can buy a villa near the beach on Hilton Head Island with an ocean view  for less than $100,000  and even $75,000? 

Happy days are here again for buyers.  Consider this inventory of economical villas for sale on Hilton Head Island today:* 

116 villas are for sale for less than $100,000: three of these have three bedrooms; four have one-bedrooms and are located in oceanfront buildings, some with ocean views.  9 of these are two-bedroom villas within walking distance to the beach with a 24-hour security gate, indoor and outdoor swimming, tennis and racketball courts.

68 villas are for sale for less than $75,000: these include four two-bedroom, two-bath villas near the beach and 5 two-bedroom, two-bath furnished villas near the Port Royal Sound beach.

22 villas are for sale for less than $50,000: these include 3 two-bedroom villas with 1,000 square feet in a popular residential villa community with a 24-hour security gate, fitness center, swimming pool and tennis court.  

Some economy villas are suitable as vacation and second home use, but not all.   Buyer motives include personal use only, vacation rental to others, primary home occupancy or lease to someone who lives and works on Hilton Head Island.   Vacation rental owners typically do their own rentals in this price range.  I am happy to teach any owner who would like to know more about how this is done.   ‘Investors’ want cash flow and do not have a personal motive to occupy the property.  If your motive is ‘pure’ investment and not personal occupancy, Go Gated Realty manages long-term rental properties and is ready to help.  Please call about our rental program.  

Generally speaking, vacation rental properties are closer to the beach and tenant-occupied villas are farther from the beach and cost less.   To determine the property that will be best for your needs, please call on me.  I am happy to sort them out and make recommendations based on your needs.    

Whatever your price range or motive to buy, let’s find your super-bargain today! 

*Source: The Hilton Head Multiple Listing Service that requires this disclaimer:  “The statistical data contained herein has not been verified by the Multiple Listing Service of Hilton Head Island, Inc. and the publication of information hereof is not a representation or warranty of any fact whatsoever.”

Richard Kadesch, Owner and Broker-in-Charge The Gated Community Specialist ® Go Gated Realty ® Hilton Head Island, South Carolina Rich@gogated.com www.GoGated.com 1-800-333-5025 Read Some of My Clients’ Success Stories

Foreclosures Continue in the Best Hilton Head Communities 

Sea Pines has two lots and two villas in foreclosure today.

Today most every gated community on Hilton Head Island and Bluffton has at least one home, villa or lot in foreclosure for sale.  The communities include the best: Sea Pines (2 homes, 2 villas), Wexford (2 lots), Long Cove (2 homes, 2 lots), Shipyard (2 villas), Forest Beach (12 villas), Hilton Head Plantation (3 homes, 3 lots) , Indigo Run 2 homes, 3 lots), Palmetto Dunes (1 home, 1 villa), Folly Field (1 villa, 2 lots) and Palmetto Hall (2 lots).  Off-Island, they include  Colleton River, Belfair, Berkeley Hall, Moss Creek, Rose Hill, Hampton Hall, Hampton Lake, Buckwalter communities and more. 

The latest statistics about foreclosures from the Hilton Head Multiple Listing Service* are:

• Homes- today 3.3% of all homes in the Hilton Head area for sale are foreclosures, 81 homes of 2,445 total.  In June, there were 2.9% foreclosures for sale, 80 of 2,779.   On Hilton Head Island alone, foreclosures for sale are only 2.2% of the total, just 22 of 1,000 homes.  
• Villas – today 3.2% of all villas for sale are foreclosures, 37 of the 1,146 total for sale.  In June, 4.3% of all villas for sale were foreclosures, 55 of 1,279.  On Hilton Head Island only, excluding Bluffton, Hardeeville and other areas across the bridge from the Island, 3.0% of villas for sale are foreclosures, 31 of 1,030 total.  
• Lots – today3.8% of all lots for sale are foreclosures, 65 of 1,722 for sale.  On Hilton Head Island, 6.3% of all lots for sale are foreclosures, 26 of 412.  I did not report the statistics for lot foreclosures in June.  

Remember that a great deal is not always a foreclosure!  Look at all properties that meet your needs and have good prices.   To find these properties, search them on gogated.com and gather the information that you want, then connect with a good and experience agent who can help you with your search, answer your questions and advise you about your concerns and set you up with the  Buyer’s Advantage™ system, the best way to monitor the market and find a bargain. 

To get a super-bargain, you must know about it right away and that is what a good agent and Buyer’s Advantage™ does.  There is no better way to monitor the market.  To receive the Buyer’s Advantage™ system without cost or obligation and for more information about foreclosures and good deals of all kinds, please contact me, the Hilton Head Gated Communities Specialist® today!

*The MLS of Hilton Head Island requires this disclaimer: “The statistical data contained herein has not been verified by the Multiple Listing Service of Hilton Head Island, Inc. and the publication of information hereof is not a representation or warranty of any fact whatsoever.”

Richard Kadesch, Owner and Broker-in-Charge The Gated Community Specialist ® Go Gated Realty ® Hilton Head Island, South Carolina Rich@gogated.com www.GoGated.com 1-800-333-5025 Read Some of My Clients’ Success Stories