The price of any item is determined by supply, as well as the market’s demand for the item. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly  REALTORS Confidence Index. Their latest edition sheds some light on the relationship between seller traffic (supply) and buyer traffic (demand).

If you are interested in more specific information in the Lowcountry, please contact me!

About Buyer Demand

The map below was created after asking the question: “How would you rate buyer traffic in your area?”The darker the blue, the stronger the demand for homes is in that area. The survey shows that in 3 of the 50 U.S.…

According to CoreLogic’s latest Home Price Index, home values have risen at over 6% a year over the past two years, but have started to slow to 3.6% over the last 12 months. By this time next year, CoreLogic predicts home values will be 5.4% higher.

With prices slowing from their previous pace, homeowners must realize that pricing their homes a little over market value to leave room for negotiation will actually dramatically decrease the number of buyers who will see their listing (see the chart below).

Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price their house so demand for the home is maximized. By doing so, the seller will not be negotiating with a buyer over the price, but will instead have multiple…

 

The South Carolina Department of Transportation (SCDOT) will host a public information meeting on Thursday, September 19, 2019, from 5 to 7 p.m. at the Boys & Girls Club of Hilton Head Island,151 Gumtree Road, to share information about the U.S. 278 Corridor Improvements project.

The U.S. 278 Corridor Improvements project runs along U.S. 278 from Moss Creek Drive in Bluffton to Spanish Wells Road on Hilton Head Island.

The purpose of the meeting is to:

• Provide an opportunity to discuss the proposed U.S. 278 Corridor Improvements project individually with SCDOT representatives.
• Provide an update to the community on the project.
• Share with the public the proposed roadway improvements (reasonable alternatives).
• Gather input from the…

 

Did you know August 21st is National Senior Citizens Day? According to the United States Census, we honor senior citizens today because,

 "Throughout our history, older people have achieved much for our families, our communities, and our country. That remains true today and gives us ample reason…to reserve a special day in honor of the senior citizens who mean so much to our land.”

To give proper recognition, we’re going to look at some senior-related data in the housing industry.

According to the Population Reference Bureau,

“The number of Americans ages 65 and older is projected to nearly double from 52 million in 2018 to 95 million by 2060, and the 65-and-older age group’s share of the total population will rise from 16…

The South Carolina Department of Transportation (SCDOT) is proposing to make improvements to the US 278 corridor between Bluffton and Hilton Head Island, from Moss Creek Drive to Spanish Wells Road. The purpose of this project is to address structural deficiencies at the existing eastbound MacKay Creek bridge, to increase capacity, and reduce congestion along US 278 from Moss Creek Drive to Spanish Wells Road.

The eastbound Mackay Creek Bridge will be replaced; it was originally built in 1956 and is scheduled for replacement. Additional studies for potential improvements include:

• Modifications to the remaining three bridges;

• Improved access to Pinckney Island National Wildlife Refuge; and

• Improved access to the C.C. Haigh,…

How is the Real Estate Market doing?

Every Real Estate agent get this question several times a week. And what is our response? "Oh, it´s good, it´s picking up..! And it is! The market in the Lowcountry and in particular Hilton Head is very special but sooner or later the national trend will arrive also here in paradise.

See what some experts have to say about the market:

We’re halfway through the year, and with a decline in interest rates as well as home price and wage appreciation, many are wondering what the experts predict for the second half of 2019.

Danielle Hale, Chief Economist at realtor.com

“Lower mortgage rates, higher wages and more homes for sale have helped counteract rising home prices, and ultimately, made it so…

Please remember it is still Lights out for the Sea Turtles on Hilton Head Island.   The Loggerhead sea turtle (Caretta caretta) is the state reptile of South Carolina and the most common sea turtle nester along our shores. They are easily recognizable by the large size of their head in relation to their body and their brownish or yellow skin. Adults have top shells that measure from 30-42 inches in length and usually weigh up to 400 pounds. Males are larger than females, and are not known to come ashore once they leave their beach of birth. Females usually begin to nest the first or second week in May; the nesting season usually ends by the end of August. Females usually emerge to nest at night and lay an average of 120 eggs per nest. They locate an…

The real estate market on Hilton Head Island is having a bit of a mixed bag midway through 2019. Villas are outperforming homes thus far and some communities having a better year than others. The market doesn't seem to favor buyers or sellers but it does favor new construction and perfectly renovated properties. 

Sales of homes island-wide are lagging behind last year's stellar performance, down 8.6 percent, but our local real estate market has already closed on more homes, year-to-date, than we previously did in 2016 and 2017 by 20.2 percent and 18.1 percent respectively.  

The median sales price for a home on Hilton Head Island is now $532,500. A decrease of 1.4 percent from this time last year. 

Islandwide, sales of villas are up 1.2 percent,…

Well, the renovation is still going on and the house is coming along great!

We followed the trend of video blogging and got good feedback from it so we've decided to keep it up, despite it being slightly terrifying, still.

https://youtu.be/OFhsDtkauiw

The floors have been stained a dark walnut, we have a new stair railing and we're settling into a paint color. Close to the finish line and can't wait to see it done!

We look forward to sharing the finished product soon!

If you’ve been thinking about buying a home of your own for some time now, you’ve probably come up with a list of things that you’d LOVE to have in your new home. Many new homebuyers fantasize about the amenities that they see on television or Pinterest and start looking at the countless homes listed for sale through rose-colored glasses.

Do you really need that farmhouse sink in the kitchen to be happy with your home choice? Would a two-car garage be a convenience or a necessity? Could the “man cave” of your dreams be a future renovation project instead of a make-or-break right now?

The first step in your home buying process should be getting pre-approved for your mortgage. This allows you to know your budget before you fall in love with a home…