Dear Friends, Clients and Fellow Associates~
Below are some half time updates from my network of advisors. Last week we gave you an update on the real estate market on Hilton Head Island
and this trusted group below helps us identify opportunities and market trends that can help us serve you better. Please feel free to contact them directly if you have any questions about their services or email me at email@example.com
. Thank You
A note from David Crowell at Mortgage Network
Mortgage Network is a good barometer of what is actually happening in local markets. We see more borrowers ( both for purchase and for refinance) than any of the Banks. Here is what we are seeing: Read the rest of this entry
A note from Todd Brooks at Island GetawayThe first half numbers indicate that the vacation rental industry on Hilton Head will see a much welcomed increase in business in 2010 vs. 2009. The Spring season numbers held in check, but the Summer has shown a double digit increase, with July shaping up to be record numbers. The tragedy in the Gulf has exposed Hilton Head to thousands of new visitors. The Island's overall tourism numbers will see the impact of this new exposure for years to come. We have yet to see what kind of retention rate we will have with first time visitors and if they will put Hilton Head in a rotation with their other annual vacation destinations, or even make it a permanent one. Nonetheless, it has our company's inventory at capacity for every week in July. One thing I have noticed about the displaced vacationers from the Gulf, is that they are primarily looking for oceanfront accommodations. The majority of inventory in the Gulf Coast region consists of oceanfront condos, and people are creatures of habit. Read the rest of this entry
The demand for long term rentals has been very good since August 2009. Our problem is we don't have many available rental properties under the rental rate of $2,000/month. [typically homes between 1,800 sq. ft to 2,400 sq. ft.] We feel that prospective buyers are NOT taking advantage of the low interest rate and lower sale prices. We feel that prospective buyers who eventually want to move to the area can buy today and rent the property to help offset some of their carrying cost until they are ready to make the move to Hilton Head. Read the rest of this entry.
A note from Keith Miller at Miller Long Term Rentals
A note from Scott Bunting at Bunting Construction
The number of building permits for new homes on Hilton Head Island has more than doubled from January 1 to July 1, 2010 as compared to the same time frame in 2009. In fact, the dollar value of gross new home permits has increased 65%! Althugh the number of remodeling permits have stayed close to the same, the dollar volume has increased 41%! At only halfway thru 2010, the Town of Hilton Head has surpassed all new home building permits issued in 2009! As all indicators show, new home permits on Hilton Head Island should double the volume of 2009
Happy Summer Days on an Island!
& Jane Hyers
P.S.S. ~ We wanted to share this nice note we recieved this week..."I just wanted to know that I LOVE your newsletter. It is SO informative and helpful. And I like that I can easily get to the market info that I want. In a world of fast paced lives-I wanted to let you know that your newsletter is the only one that I stop to read. (ok, at least most of it.) Thanks again for your efforts and my compliments to you and your team!!!" CG
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