Hilton Head Homebuyers Follow National Trends to Find Lifetime Bargains
Trend #1: The Real Estate Recovery is Underway
Hilton Head home buyers are back in the market and finding the real estate opportunities of a lifetime. It is not clear if their decision to buy now is influenced by the considerable news that is out there on television and in newspapers about the recovery or if they are acting based on intuition and feeling or both. Regardless, more buyers are active now and my phone is ringing off the hook with buyers who are back in the market after years of waiting for the right time to buy. I am happy to say that it sure feels like a recovery to me!
News about the national housing recovery is shown in the graph above from the National Association of Realtors that shows increasing home sales nationwide even after the government stopped the mortgage rebates. Below, a graph shows the recovery in housing predicted by both the NAR and Fannie Mae. Our local Hilton Head real estate market is explored in a separate article. This article presents the good news of a national real estate recovery.
How many times has someone said in the last few years that real estate prices and interest rates were at historic lows? In the doldrums of our economy and emotions, it sometimes seemed like everything would be low forever, including our morale. But both morale and interest rates have risen and higher interest rates may be another factor that is bringing buyers back into the market. People understand that higher interest rates diminish their purchasing power. It’s not just the purchase price but the cost of the purchase over time based on the interest rate that is important. The table above makes this clear using the example of a $170,000 home. The National Association of Realtors stated in their 4th quarter housing report that the national median existing single-family price was $170,600 in the fourth quarter of 2010, up 0.2 percent from $170,300 in the fourth quarter of 2009.
Trend #3: Real Estate Usually Gives the Best Return on Investment
The last few years have been economically and emotionally challenging to say the least. It’s not always easy to have the confidence in our future and in real estate that we should have but the graph below reminds us that real estate is the best place to put your money for a good return of investment over time. Today on Hilton Head, I believe that we have the real estate purchase opportunity of our lifetimes. The question really is, are you ready to take advantage of today’s buying opportunity?
Many buyers have found outstanding home bargains on Hilton Head in the last few years and now more people are deciding that this is the time to buy. If you are among those who are ready to get back into the market, please call or email me, Richard Kadesch of Go Gated Realty® on Hilton Head Island, the Hilton Head Gated Communities Specialist®. My cell number is 843-694-2933 and my email is firstname.lastname@example.org.
To find the Hilton Head real estate bargain of your lifetime, please call:
Richard Kadesch, Owner and Broker-in-Charge
Go Gated Realty ®
The Gated Community Specialist ®
Hilton Head Island, South Carolina