Where are Americans Moving? South Carolina!

South Carolina is the 2nd Most Popular State for Inbound Moves

South Carolina moves

United Van Lines has tracked migration patterns annually on a state-by-state basis since 1977. For 2015, the study is based on household moves handled by United within the 48 contiguous states and Washington, D.C. United classifies states as “high inbound” if 55 percent or more of the moves are going into a state, “high outbound” if 55 percent or more moves were coming out of a state or “balanced” if the difference between inbound and outbound is negligible.

  • For the 4th year in a row the Northeast saw a concentration of High Outbound activity.
  • Oregon held on to the top stop of High Inbound states for the 3rd year in a row.
  • South Carolina found itself in the second spot for most inbound moves. United Van Lines found the top reasons for moving South included company transfer/new job, retirement and proximity to family.
If you are interested in where the Bluffton / Hilton Head Island real estate market is going? Give Jo Anne or Tony Rizza (843-301-5825) a call to better understand the current market, see the latest available properties, or to list your own home!

With over 25 years of experience, our team is ready to help!

Hilton Head Real Estate Partners
Partnering with you every step of the way.

Will Appraisals Continue to be a Challenge in 2016?

appraisal challenge

First American Title issues a quarterly report, the Real Estate Sentiment Index (RESI), which “measures title agent sentiment on a variety of key market metrics and industry issues”. Their 2015 4th Quarter Edition revealed some interesting information regarding possible challenges with appraisal values as we head into 2016.

“The fourth quarter RESI found that title agents continue to believe that property valuation issues will be the most likely cause of title order cancellation over the coming year.”

This shouldn’t come as a surprise. In a housing market where supply is very low and demand is very high, home values increase rapidly. One major challenge in such a market is the bank appraisal. If prices are jumping, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that closed recently) to defend the price when performing the appraisal for the bank.

Another monthly report by Quicken Loans measures the disparity between what a homeowner believes their house is worth as compared to an appraiser’s evaluation. Here is a chart showing that difference for each month through 2015.

appraisalsBottom Line: Every house on the market has to be sold twice; once to a prospective buyer and then to the bank (through the bank’s appraisal). With escalating prices, the second sale might be even more difficult than the first. That is why we suggest that you use an experienced real estate professional to help set your listing price.

If you are interested in where the Bluffton / Hilton Head Island real estate market is going? Give Jo Anne or Tony Rizza (843-301-5825) a call to better understand the current market, see the latest available properties, or to list your own home!

With over 25 years of experience, our team is ready to help!

Hilton Head Real Estate Partners
Partnering with you every step of the way.

Monthly Real Estate Market Videos

Monthly Real Estate Market Videos for: Hilton Head, Bluffton, Daufuskie & Okatie

Did you know that we offer monthly real estate videos for Hilton Head, Bluffton, Daufuskie and Okatie?

Each month we offer the opportunity for you, the buyer or seller, to get a better idea what is happening in your local real estate market. The market between Hilton Head and Bluffton is very different. Just as the market between Bluffton and Okatie is different. Why settle for generic information that may not be localized enough for you? When you can come to us and get the local monthly real estate market videos that you need!

The Hilton Head Monthly Real Estate Market Video can be found by clicking here

The Bluffton Monthly Real Estate Market Video can be found by clicking here

The Daufuskie Monthly Real Estate Market Video can be found by clicking here

The Okatie Monthly Real Estate Market Video can be found by clicking here

If you are interested in where the Bluffton / Hilton Head Island real estate market is going? Give Jo Anne or Tony Rizza (843-301-5825) a call to better understand the current market, see the latest available properties, or to list your own home!

With over 25 years of experience, our team is ready to help!

Hilton Head Real Estate Partners
Partnering with you every step of the way.

You Do Need the Internet to Sell your Home

You do need the internet to sell your home

In 2016, you do need the internet to sell your home.

Trust your real estate agent to get your listing online. The internet continues to drive the most amount of home buyers every year and there is no reason to believe this percentage won’t raise even more in 2016. As a result you do need the internet to sell your home.

As you can see from the above infographic if your listing isn’t online you are missing out on an amazing opportunity. It is just beyond being on the internet though. Are you online in the right places? Is you listing being pushed and shared to the best sites that generate foot traffic? Don’t miss this opportunity to get your listing seen and your home sold!

If you are interested in where the Bluffton / Hilton Head Island real estate market is going? Give Jo Anne or Tony Rizza (843-301-5825) a call to better understand the current market, see the latest available properties, or to list your own home!
With over 25 years of experience, our team is ready to help!
Hilton Head Real Estate Partners

Partnering with you every step of the way.

Two Reasons to Sell This Winter

Should you Sell this Winter?

The last two major reports (Pending Home Sales and Existing Home Sales) issued by the National Association of Realtors (NAR) revealed information that suggests that selling this winter may be your best move.

Pending

The Pending Home Sales Report

The report announced that pending home sales (homes going into contract) are up 3.9% over last year, and have increased year-over-year now for 14 consecutive months.

Lawrence Yun, NAR’s Chief Economist, expects demand to remain stable through the final two months of the year, and “forecasts existing-home sales to finish 2015 at a pace of 5.30 million – the highest since 2006.”

Takeaway: Demand for housing will continue throughout the end of 2015 and into 2016. The seasonal slowdown often felt in the winter months hasn’t started and shows little signs of being near – even more reason to sell this winter.

ExistingThe Existing Home Sales Report

The most important data point revealed in the report was not sales but instead the inventory of homes on the market (supply). The report explained:
•    Total housing inventory decreased 2.3% to 2.14 million homes available for sale
•    That represents a 4.8-month supply at the current sales pace
•    Unsold inventory is 4.5% lower than a year ago

When there is less than 6 months inventory available, we are in a sellers’ market and we will see appreciation. Between 6-7 months is a neutral market where prices will increase at the rate of inflation. More than 7 months inventory means we are in a buyers’ market and should expect depreciation in home values.

As rents and prices increase, potential buyers will not able to save as much for a down payment and many may become priced out of the market.

Takeaway: Inventory of homes for sale is still well below the 6 months needed for a normal market. Prices will continue to rise if a ‘sizeable’ supply does not enter the market. Take advantage of the ready willing and able buyers that are still out looking for your house.

If you are interested in where the Bluffton / Hilton Head Island real estate market is going? Give Jo Anne or Tony Rizza (843-301-5825) a call to better understand the current market, see the latest available properties, or to list your own home!

With over 25 years of experience, our team is ready to help!

Hilton Head Real Estate Partners
Partnering with you every step of the way.

Don’t Wait – Buy Now!

Don't pay more, buy now

Don’t Wait – Buy Now

Buy now to keep costs down on the house of your dreams. As you can see each state is appreciating at different rates. South Carolina is appreciating at one of the highest rates in the States year-over-year. Waiting for that right moment may wind up costing you more than you thought. Don’t wait, buy now!

Add that interest rates will most likely be going up in 2016 and waiting will cost you more than it has in the past couple of years. Don’t miss out on a great opportunity to find your perfect home.

The October numbers reinforced the facts that the real estate market continues to gain strength:

  • The annual adjusted sales are currently at a 5.36 million pace.
  • 14,684 homes sell every day in the United States.
  • October marked the 44th consecutive month of price gains.

If you are interested in where the Bluffton / Hilton Head Island real estate market is going? Give Jo Anne or Tony Rizza (843-301-5825) a call to better understand the current market, see the latest available properties, or to list your own home!

With over 25 years of experience, our team is ready to help!

Hilton Head Real Estate Partners
Partnering with you every step of the way.

Yes! You Do Need a Vacation Home!

Hilton Head Vacation Home

Does a vacation home sound good to you? We have the solution, Hilton Head is the perfect home away from home! Hilton Head Island boasts miles of beaches, tennis courts, championship golf courses, amazing restaurants, moderate temperatures and beautiful lowcountry scenery. If you own a vacation home on Hilton Head your next vacation can never come quick enough! Don’t miss out on a great opportunity to be part of the Hilton Head Island community.

If you are interested in where the Bluffton / Hilton Head Island vacation home market is going? Give Jo Anne or Tony Rizza (843-301-5825) a call to better understand the current market, see the latest available properties, or to list your own home!

With over 25 years of experience, our team is ready to help!

Hilton Head Real Estate Partners
Partnering with you every step of the way.

 

Do You Really Need To Put 20% Down?

borrow

The days of having to put 20% down are gone! There are a variety of borrowing options, some begin with as little as 3% down. If you want to own your own home, now is as good a time as any to jump into the market!

In September:

  • 70% of first-time buyer loans had down payments <5%
  • The median FICO score was 708
  • 27% had DTIs greater than QM limit of 43%

If you are interested in where the Bluffton / Hilton Head Island real estate market is going? Give Jo Anne or Tony Rizza (843-301-5825) a call to better understand the current market, see the latest available properties, or to list your own home!

With over 25 years of experience, our team is ready to help!

Hilton Head Real Estate Partners
Partnering with you every step of the way.

Know the Facts: Buying a Home vs Renting

Mythbusters-STM

The Facts About Renting:

According to the 2015 Rent.com Rental Marketing report:

  • 88% of property managers raised their rent in the last 12 months, there does not appear to be any signs of stopping.
  • 66% of property managers predict that rental rates will continue to rise in the next year by an average of 8%.
  • 53% of property managers said that they were more likely to bring in a new tenant at a higher rate, than negotiate and renew a lease with a current tenant they already know.

Why Buy Your Own Home:

Making the leap to purchase your own house can be scary, we know that. Buying a home doesn’t have to be a terrifying experience. Renting can be tiring and stressful, year to year not knowing where you are going next or how much you will be paying per month. We are here to help guide you to the home of your dreams and the security you deserve. Remember the top three reasons to own a home are:

  1. The opportunity to build equity
  2. A stable and safe environment
  3. The freedom to choose your own neighborhood

If you are interested in where the Bluffton / Hilton Head Island real estate market is going? Give Jo Anne or Tony Rizza (843-301-5825) a call to better understand the current market, see the latest available properties, or to list your own home!

With over 25 years of experience, our team is ready to help!

Hilton Head Real Estate Partners
Partnering with you every step of the way.

Featured listing – 3 Halandy Ln, Daufuskie Island SC

Lot 3This week we wanted to tell you a little about a fabulous, deewater homesite located directly on the Intracoastal Waterway. The homesite is positioned at 3 Halandy Lane, along the deep waters of the Cooper River at Haig Point on Daufuskie Island, SC.

Deeded with this bulk-headed homesite is a semi private dock. This is an extremely rare opportunity to purchase this land and the only private Member dock at Haig Point! The dock is shared with only three other luxury estate property owners on the private island with high ground and marsh. We think the homesite is exceptional value, and is extra special because of its amazing views and breathtaking sunsets.

The listing price for the homesite is $799,000. Click here to see more details and photos of the property.

If you want to go take a look at this rare homesite on Daufuskie Island, we would be happy to take you! Simply call us on 843-301-5825 to set up an appointment.

Want to know a little more about Haig Point on Daufuskie Island? Click here!