Hilton Head Real Estate Blog

Expert insight.  Stay up to date on the beautiful Town of Hilton Head and what it has to offer YOU!  

Nov. 30, 2020

Here's what our clients say...Thank you Max and Pat!

Nov. 22, 2020

The October Market Reports are Available!

 

Hilton Head Market Reports for October 2020 are now available!  Visit the following links to view the reports:

October Market Reports:

Sea Pines Homes Report
Sea Pines Villas Report
Monthly Market Indicator
Monthly Supply Outlook
Mainland Report
Hilton Head Island Attached
Hilton Head Island Detached

Posted in Market Activity
Nov. 3, 2020

The Rise of the Home Office

Even before the pandemic, the work-from-home trend was growing in popularity. Improved technology and connectivity are allowing people to be more productive at home as employers have offered greater flexibility. But now that COVID-19 has made working from home even more prevalent—coupled with students learning online—many families are finding themselves crowded around the kitchen table or staking out various nooks to accomplish tasks on their laptops or tablets.

Mary Cook, founder of a Chicago-based commercial interior design firm, Mary Cook Associates, has experienced this challenge firsthand. She took the dining room table for her office in her suburban house; one of her three children claimed the sitting area in the parents’ suite, another picked the furnished basement, and the third chose a table in the family room. Fortunately, Cook’s husband is retired and so doesn’t need to compete for working space.

The finagling has made real estate professionals note the need for more functional, designated work-from-home solutions. This has led to the creation of home offices using two techniques: reconfiguring existing spaces or adding new square footage. These new home office designs vary in size and location—some near the main living space or bedrooms, others in basements or attics. There’s also the trend of outdoor accessory dwelling units if the plot size and local building codes permit them.

To view the entire article, click here:  https://bit.ly/3mMtgJo

Posted in Other
Oct. 18, 2020

The September Market Reports are Available!

Hilton Head Market Reports for September are now available!  Visit the following links to view the reports:

 

September Market Reports:

Sea Pines Homes Report
Sea Pines Villas Report
Monthly Market Indicator
Monthly Supply Outlook
Mainland Report
Hilton Head Island Attached
Hilton Head Island Detached

Posted in Market Activity
Sept. 23, 2020

Sea Pines Real Estate Market Update

Real estate in Sea Pines remains a hot commodity this month with only 80 homes and 33 villas on the market. Just when I think we can't hit a new low in inventory, we do. These are the lowest levels we have ever seen and well priced properties are getting multiple offers within hours of being listed. Buyers are attracted to turnkey homes and are moving into them vs. using them as rental properties. The increase in purchases has had a corresponding decrease in rental property inventory since so many buyers want to either live in this beautiful place full time or have an empty home available to escape to should the need or want arise. Covid 19, in my humble opinion, has caused a notable societal shift. People have been forced to learn they can live and school from anywhere...so why not do it by the beach?
Ready to move up? Downsize? Pick up a second property? Please call me with any questions about Sea Pines Real Estate! 843-422-6448

 

Posted in Market Activity
Sept. 17, 2020

The August Market Reports are available!

The August Hilton Head Market Reports are now available!  Visit the following links to view the reports:

 

August Market Reports:

Sea Pines Homes Report
Sea Pines Villas Report
Monthly Market Indicator
Monthly Supply Outlook
Mainland Report
Hilton Head Island Attached
Hilton Head Island Detached

 

Posted in Market Activity
Sept. 7, 2020

Seasonal Home Improvement: Fall Maintenance Checklist

Seasonal Home Improvement: Fall Maintenance Checklist

In many regions, fall is the perfect season to tackle general home maintenance projects because the weather is generally dry and temperatures are moderate. Before you start your seasonal home maintenance checklist, examine both the interior and exterior of your home. Most of these tasks can be accomplished without the help of a professional, but it's always better to be safe and call for assistance if a home improvement project is beyond your abilities. Here are our seasonal home improvement recommendations for fall:

  • Rake leaves and aerate the lawn.
  • Have forced-air heating system inspected by a professional. Schedule an inspection in late summer or early fall before the heating season begins.
  • Check fireplace for damage or hazards, and clean fireplace flues.
  • Seal cracks and gaps in windows and doors with caulk or weather stripping; replace if necessary.
  • Swap old, drafty windows for more energy-efficient models.
  • Touch up exterior siding and trim with paint.
  • Inspect roofing for missing, loose, or damaged shingles and leaks.
  • Power-wash windows and siding.
  • Remove leaves and debris from gutters and downspouts.
  • Mend cracks and gaps in the driveway and walkway.
  • Drain and winterize exterior plumbing.
  • Have your fireplace professionally inspected.
  • Tune up major home appliances before the holidays.
  • Repair or replace siding.
  • Replace the batteries in smoke and carbon monoxide detectors. Install a smoke detector on every floor of your home, including the basement.
  • Clean the carpets.
  • Clean window and door screens.
  • Vacuum lint from the dryer vent.
  • Inspect exterior door hardware; fix squeaky handles and loose locks.
  • Check for frayed cords and wires.
  • Drain and store hoses, and drain in-ground sprinkler systems.
  • Wrap insulation around outdoor faucets and pipes in unheated garages.
  • Check water heater for leaks.
  • courtesy of www.bhg.com
Posted in Other
Aug. 19, 2020

The July Market Reports for Hilton Head are here

The July Hilton Head Market Reports are now available!  Visit the following links to view the reports:

 

July Market Reports:

Sea Pines Homes Report
Sea Pines Villas Report
Monthly Market Indicator
Monthly Supply Outlook
Mainland Report
Hilton Head Island Attached
Hilton Head Island Detached

Posted in Market Activity
Aug. 13, 2020

Homes are more affordable now than they have been in years!

 

Today, home prices are appreciating. When we hear prices are going up, it’s normal to think a home will cost more as the trend continues. The way the housing market is positioned today, however, low mortgage rates are actually making homes more affordable, even as prices rise. Here’s why.

According to the Mortgage Monitor Report from Black Knight:

“While home prices have risen for 97 consecutive months, July’s record-low mortgage rates have made purchasing the average-priced home the most affordable it’s been since 2016.

How is that possible?

Black Knight continues to explain:

“As of mid-July, it required 19.8% of the median monthly income to make the mortgage payment on the average-priced home purchase, assuming a 20% down payment and a 30-year mortgage. That was more than 5% below the average of 25% from 1995-2003.

This means it currently requires a $1,071 monthly payment to purchase the average-priced home, which is down 6% from the same time last year, despite the average home increasing in value by more than $12,000 during that same time period.

In fact, buying power is now up 10% year-over-year, meaning the average home buyer can afford nearly $32,000 more home than they could at the same time last year, while keeping their monthly payment the same.”

This is great news for the many buyers who were unable to purchase last year, or earlier in the spring due to the slowdown from the pandemic. By waiting a little longer, they can now afford 10% more home than they could have a year ago while keeping their monthly mortgage payment unchanged.

With mortgage rates hitting all-time lows eight times this year, it’s now less expensive to borrow money, making homes significantly more affordable over the lifetime of your loan. Mark Fleming, Chief Economist at First American, shares what low mortgage rates mean for affordability:

“In July, house-buying power got a big boost as the 30-year, fixed mortgage rate made history by moving below three percent. That drop in the mortgage rate from 3.23 percent in May to 2.98 percent in July increased house-buying power by nearly $15,000.”

The map below shows the last time homes were this affordable by state:Homes Are More Affordable Right Now Than They Have Been in Years | Keeping Current MattersIn six states – Arkansas, Iowa, Kentucky, Louisiana, Maryland, and West Virginia – homes have not been this affordable in more than 25 years.

Bottom Line

If you’re thinking of making a move, now is a great time to take advantage of the affordability that comes with such low mortgage rates. Whether you’re thinking of purchasing your first home or moving into a new one and securing a significantly lower mortgage rate than you may have on your current house, reach out to a real estate professional today to determine your next steps in the process.

 

article courtesy of keeping current matters, august 2020

Posted in List Articles
Aug. 1, 2020

Sea PInes "DIGS" newsletter for August 2020

 

 

Posted in Market Activity