Happy Leap Day!

Posted on 02/29/2012 by The Low Country Team

Happy Leap Day everyone!  Are you like us wondering where has the month of February gone?  All I can say is that its been a very busy month for the Lowcountry Team.  We’ve been showing property, sold 10 properties, and listed 5 new properties for sale.  Whew!  And this isn’t normally the high season for real estate in the Hilton Head area.  While our
February creates only anecdotal evidence of a recovery in the Hilton Head / Bluffton real estate market, there have been numberous national reports discussing the potential rebound of the housing segment nationwide and some good data to support a local recovery.

The biggest news for the local market is the shrinking inventory of single family homes for sale.  The inventory now stands at 2708 units which is the lowest level since December 2007 and down 14.9% over 2011 levels!  As the inventory decreases, we are seeing many of the real jems in the market being snatched up.  Check out the trend line in the graph below.

In addition, closed sales for January were up 20.2% over 2011 and pending sales
were up 3.4% over 2011.

Median prices did decrease 4.5% from January to January. However, if you look at the median price over a 3 month rolling average the median has been essentially flat for the last 18 months.

I feel like I just have to metion the fact that when Warren Buffett was recently interviewed on CNBC’s Squaw Box he said “If I knew where I was going to want to live the next five or 10 years I would buy a home and I’d finance it with a 30-year mortgage… It’s a terrific deal.”

If you’ve decided the Lowcountry is where you want to be, now is a great time to buy or to move up!  Come chat with us and let us show you why.

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US Airways Article on the SC Lowcountry

Posted on 12/09/2011 by The Low Country Team

Great article from U.S. Airways on the Lowcountry: Introduction by Martha-Page Althaus You’re in a state-of-the-art theater. The lights are dimmed, the curtain is raised, and the orchestra strikes into the opening number of a Tony award–winning musical. Times Square? … Continue reading →

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Autumn in the Lowcountry

Posted on 11/17/2011 by The Low Country Team
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It is autumn in the Lowcountry, and we are starting to see a little color change on the trees and a crisp coolness in the air.  The weather is always a little unpredictable this time of year – it could … Continue reading →

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The Current Real Estate Market: A Little Good News

Posted on 11/08/2011 by The Low Country Team
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There is some good news to report in the local and national real estate market.  According to the Hilton Head Area Multiple Listing Service, total real estate sales for the lowcountry are up 9% in 2011 from this same time in … Continue reading →

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Reality Real Estate

Posted on 09/30/2011 by The Low Country Team

We really enjoy watching the HGTV reality show “Selling New York”.  It always reminds us of how grateful we are to be “Selling the Lowcountry” instead.  Here’s a little fluff for your weekend by Kirsten Luce for the New York … Continue reading →

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Why Buy Now?

Posted on 09/22/2011 by The Low Country Team

Thanks to Rick Turner for sharing with us the following chart illustrating the advantage of buying real estate in the current market.  There is no better time to buy than NOW!

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5 Great Reasons to Sell Your House Today

Posted on 09/15/2011 by The Low Country Team


We are often asked “Is it time to sell my home?” The answer to that question is based on what your families’ goals are. If you don’t need or want to move for a few years it might make sense to wait for the housing industry to recover and prices to appreciate. However, if you wish to move within the next six to eighteen months, it is probably better to sell sooner rather than later. Here are five reasons why:

Your House Will Get More Exposure Now Than the Winter

Housing sales usually level off in the summer and then regain momentum in September and October. The spring buyers’ market has passed. Don’t miss the early fall market. It has consistently outperformed the winter season.

Distressed Properties Will Impact Prices

Distressed properties (foreclosures and short sales) on the market will increase this fall and winter. This will put tremendous downward pressure on prices for at least the next 12-18 months. Get your home sold before they become your competition.

Mortgages Will Become More Difficult to Attain

Lending standards are continuing to tighten. There is legislation currently being considered that will make it even harder for buyers to qualify. Less demand will equate to lower prices.

It is the Perfect Time to Move-Up

With prices where they are and interest rates at all time lows, there may have never been a better time to move-up into your dream home. If you move into a more desirable home now, you will be in position to gain larger equity as prices eventually appreciate.

You Get to Move On with Your Life

Probably the most important reason to sell is so you can get on with your life. You are considering selling for a reason. Do not allow a less-than-stellar housing market prevent you from reaching your goals as an individual or as a family. Think about the reasons you are thinking about moving. Are these reasons really important to you? If you have to take less than you were originally hoping to get for your house, your family has a question to ask each other: Is the dollar difference in sales price worth putting off our plans? Only you and your family know the answer to that question.

by THE KCM CREW on SEPTEMBER 6, 2011

 

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Foreclosure Starts Spike in August

Posted on 09/13/2011 by The Low Country Team

Mortgage servicers started the foreclosure process on more than 78,800 properties in August, a 33% increase from the month before and the highest monthly increase in four years, according to RealtyTrac. Still, foreclosure starts remained 18% below the level measured in … Continue reading →

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2013 Real EstateTax

Posted on 09/03/2011 by The Low Country Team

Perhaps you have seen following information being circulated through the internet:

“According to the Health Care Bill, real estate transactions occurring in 2013 and after, will incur a 3.8% sales tax. That’s $3,800 on a $100,000 home. If you sell a $400,000 home, there will be a $15,200 tax.”

I checked with a respected CPA friend of mine who clarified the information regarding this bill.  It is not considered an actual sales tax, but a Medicare tax which is subject to certain limitations and will affect high-income taxpayers.

“The tax is equal to 3.8% of the lesser of:

- Net investment income, e.g., interest, dividends, annuities, royalties and rents, and capital gains, or

- Modified adjusted gross income that exceeds $200,000 single, $250,000 if married filing a joint federal income tax return, or $125,000 if married filing a separate return.

So, effectively, individuals are only subject to the additional 3.8% tax if their adjusted gross income exceeds the dollar thresholds. Also, for real estate sales, the exclusion of the capital gain on personal residences is not considered net investment income.”

Tom
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Belfair News – New Director of Golf

Posted on 09/03/2011 by The Low Country Team

Belfair Plantation is pleased to announce the new addition of Director of Golf, James Swift, formerly of The Club at Longview in Charlotte, North Carolina.

According to Belfair General manager, David Porter: “James is at the top of his profession as a highly respected PGA professional. His prior experience includes being the Director of Golf at The Santaluz Club in San Diego for seven years. Prior to being in San Diego he held Assistant Professional positions at Oakmont Country Club, Carmel Country Club and Myers Park Country Club. In addition to being a PGA member, James has a Bachelors of Arts in Business Management from Queens University in Charlotte, North Carolina.

His leadership, business management, tournament operations, staff training and member relations are some of his top attributes. Bob Ford, Head Professional at Oakmont Country Club, stated that ‘He is one of the best employees I ever had. He has a great commanding presence. He will enforce the rules but keep the members happy at the same time. James is a “10” in skills as well’.

James and his wife, Calay have two young children, and the whole family is excited about the opportunity at Belfair and building their life here in the Lowcountry. James will join Belfair on Monday, October 3, 2011. He will be at Belfair for the grand opening of the East Course.”

I hope all Belfair members will stop in and welcome James when you are at the Club.

Tom

 

 

 

 

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