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Hilton Head April Sales Still showing Strength!

Hilton Head Island’s real estate sales for the month of April, 2010 are mostly showing gains over last year.  Home sales on the island were slightly behind with 65 selling this year and 67 last year.  Sea Pines home sales were even to last year.  The strength continues in villa sales.  Hilton Head villa sales are 24% over last year and Sea Pines villa sales are 20% over last year.  Interest rates slid downward last week, which is good for the buyer.  There are still deals to be had, so the buyers need to keep it coming.

Hilton Head 1st Quarter Sales Are Trending Up!

The first quarter number of home and villa sales on Hilton head Island are up over last year significantly.   Home sales are up 49% and Villa sales 76%.  With interest rates still low and choices still high, the best time to make an offer is now.  Sellers are still negotiable and the savvy buyers are making their move.  As inventory continues to erode, the pendulum may begin to swing in the other direction.  This does not mean prices will move up as forecasts do not see prices moving up for at least a year and maybe more.  The good news is that real estate sales are up on Hilton Head Island!

Smaller Homes Becoming the New Trend!

I predicted 3 years ago while watching all the McMansions being built along Hilton Head Island’s coast, that the trend would change back to consumers wanting smaller homes.  It appears that is happening.  I have read 2 articles this month about this subject.  One article from Realtor Magazine states that “while the average square footage is still double what it ws in 1960, in the last year, it decreased slightly to 2,215 square feet from a high of 2,277 square feet in 2008, according to data from the U.S. Census Bureau.”  This is the first drop since the early 1980’s.

Then an article appeared in the  The Island Packet newspaper, where they quote research done by Better Homes and Gardens Next Home Survey.   36% surveyed said they want their next home to be somewhat smaller or much smaller.

Hilton Head Island is no exception.  I have heard many buyers express this sentiment.  The talk is about energy efficiency, outdoor living spaces and homes that fit the entire family with multi-tasking rooms– such as a home office that converts to a bedroom or a large laundry room with a built in desk for home office use.

Home Interest Rates in Hilton Head Island SC Remains Low

Federal Reserve Chair Ben Bernanke told Congress that interest rates are likely to remain low for an extended period. The economy, he said, “still requires support for recovery.”  Investors breathed a sigh of relief Wednesday  and see these low rates as a boon to a recovery of employment and business.

Bernanke’s announcement also took the edge off the news Wednesday that housing sales hit a new low in January.  However, the number of transactions are up from a year ago January. As stated in yesterday’s blog, home sales along the South Carolina coast and specifically on Hilton Head island, soared.  Buyers are taking advantage of low rates and good real estate choices on Hilton Head Island.

 

Real Estate Home sales jump along South Carolina’s Coast!

Sales of homes in January rose 15% along the South Carolina coast. More importantly, sales soared in the seven county Hilton Head MLS area. 139 homes went under contract in January 2010.  Up from 106 in January of 2009, that is a 31% increase.  Buyers rushed to take advantage of the tax credit and others saw the incredible deals out there.  On Hilton Head Island specific, we saw a 208%  increase January to January.  24 homes sold Jan. of 2009, and 50 sold Jan. of 2010.  We don’t expect the year to show these gains each month, but we are encouraged by the consumer confidence in real estate in our area.  The smart buyer will take advantage of low interest rates and the many choices in housing inventory on Hilton Head Island and Bluffton.  The qualified buyer will have no problems getting a good and low rate on a mortgage.

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Hilton Head Island, SC Real Estate and Luxury Homes

Hilton Head Island, South Carolina is an oceanfront paradise featuring the finest luxury homes and a wide array of activities to suit most any lifestyle. Whether you purchase Hilton Head Island real estate as a primary residence, second home, or vacation retreat you can rest assured that you have found that exceptional property on the second largest barrier island on the east coast.

Whether you are Purchasing A Luxury Home or villa on Hilton Head Island for your primary home or investment, you can realize your dream!  Featured ListingsHomes along the local beaches and waterways are among the most desirable in the nation. When the demand far exceeded supply-and prime Island area real estate sold in only a matter of hours after being listed in the Multiple Listing Service (MLS) – you needed to be able to react quickly to buy the home or villa while at the same time having complete confidence in your purchase. This was and is especially true if you do not live in the area and are buying the property sight unseen. In today’s market you need just as much if not more confidence in your Realtor. With prices fluctuating up and down within days, you need the experience and knowledge of Hilton Head Island’s buying and selling process before you lose that good deal-even in today’s market.

 

How can you react quickly to luxury homes becoming available on the Hilton Head MLS and still be assured that your best interests are served? The answer is to work with Felice LaMarca as your full service Hilton Head Island real estate broker. Her business has been built by the referrals of many satisfied clients.

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