Hilton Head Realtors - Who Are Better: Men or Women?

My guess is there are more women in the real estate business than men. At least, that's what I see in the Hilton Head real estate market. Does that mean ladies have evolved over time to be better suited to the nuances of the industry? Maybe. Some folks feel the woman makes the home-buying decision for the most part and a female real estate agent can "understand" those needs more appropriately, therefore more capable of targeting homes that would be of interest - so not to waste their customer's time.

Knowing there is a lot of truth to the above, it's been important for me to pay more attention to kitchens, bathrooms and the ever-critical closet space. Bottom-line: if you feel the Realtor is knowledgeable and qualified to provide his/her expertise and the agent has your best interests at heart (i.e. would show a FSBO to his customer and risk not earning a commission), the sex of the agent really doesn't matter. One other factor: do you really like the agent?

One thing is for sure, many successful Hilton Head real estate agents, men and women, have a tendency to let their good fortune go to their head, creating an air of arrogance and a condescending attitude. I have on numerous occasions had Realtors complain about "inappropriate co-broker commissions" (i.e. lower commission offered than what's "expected") to the point one top agent responded, "Why do I want to work for 'x' when others are paying me X+++?"

Tell me that agent has a mindset that they're always looking out for their "customers best interests" (i.e. what property suits their customer's needs best, not how much commission is the Realtor going to make) - in my opinion those kind of agents - no matter how much money they make - have it all wrong!

What You Can Expect To Pay If You Want To Live on Hilton Head?

Hilton Head real estate is not the most expensive property on the East Coast, but it certainly isn't the least either. Some folks call it a bargain (Californians especially), others (few) say "it's over-priced. What do you think? Hilton Head offers a special lifestyle you can't find many places because the Island's development has been controlled and limited in density and in style.

If you want a piece of Hilton Head real estate, here's what you can expect to pay:

• Entry level homes in non-gated communities, miles from the beach start in the $300,000 range. Typically 15 to 20 years old, less than 2000sqft, but only minutes from public beach access.
• For gated communities like Hilton Head Plantation and Sea Pines, where you can find some homes 1400sqft+, prices will start in the mid-$400's. Most of these properties were built in the early 80's and may be in need of updating: like new kitchen cabinets, counter tops, new bathroom upgrades, etc.
• If you want to be within a 5-7 minute walk to the beach, prices start in the upper $700's.
• You want a full-size lot and home over 2800sq.ft. close to the beach - 5th Row Ocean, etc. you'll need to budget somewhere in the $1.35M+.
• Newer (built within the last 7 years) homes command higher prices as most are substantially larger with more upgrades, etc. Prices start in the $3M+ range.
• If you want a rental home, make sure it has a pool. If the property doesn't have a pool (it probably hasn't been rented), you'll need to put one in. Figure it will cost somewhere between $25,000 to $50,000 assuming you're not going to crazy with waterfalls, etc.
• Oceanfront homes (that you wouldn't tear down) generally start in the $5M range.

The average home sold on Hilton Head in 2006 was in the $700,000 range. You can find homes for less, but it all depends on land value (dictated by location) as to what the home will be worth.

"Hire" me and take advantage of my 28+ years of Hilton Head real estate experience to assist you in not only finding the right piece of property, but making sure your purchase was at a good value. Email me and put me to work: joeagee@hiltonheadislandluxuryhomes.com
View all Hilton Head real estate via MLS: www.hiltonheadmls.com / www.realtor.com

Hilton Head Real Estate - A Buyer's Checklist

Considering a Hilton Head real estate (home) purchase? Have you done your homework? Have you "hired" an experience Hilton Head Realtor yet? Do you know what questions to ask?

Let me offer a few suggestions:

• What are the recent closing prices of like properties? Last 3 months? Last 6 months to a year? Any current like-properties pending? If so, can you obtain the contract price?
• What year was the home built and what's the square footage? Replacement cost?
• How old and what's the condition of the roof, HVAC and major appliances?
• What are the Land values where the home is located? Are any homesites available in the neighborhood of interest? What are the recent closing prices of like-homesites?
• Regardless of how long you think you'll live in the home, have you considered future resale ability of the property? The average home turns every 7 years. Make sure you buy something that will have future demand to protect your property's value and help fuel future appreciation.
• Be familiar with all your ownership expenses such as: POA fees, community/amenity dues, property taxes, insurance, special assessments, utility fees, etc.
• Gated community - or - Non-Gated community? Consider privacy, security, amenities, restrictions/covenants, guidelines vs. none, POA fees vs. none, private beach access vs. public, etc.

You can't go wrong with Hilton Head real estate; but some properties will always be in greater demand than others. Biggest mistake: DON'T OVERPAY!! BE A WELL-INFORMED BUYER!!

"Hire" me and take advantage of my 28+ years of Hilton Head real estate experience to assist you in not only finding the right piece of property, but making sure your purchase was at a good value. Email me and put me to work: joeagee@hiltonheadislandluxuryhomes.com

View all Hilton Head real estate via MLS: www.hiltonheadmls.com / www.realtor.com

Sea Pines: The Future is Unfolding Today

Sea Pines, the resort community brain-child of Charles Fraser, had it's humble beginnings back in the 1950's. Now the prototype for PUD's (Planned-Unit Developments) throughout the country, this oceanfront neighborhood of 5000+ acres is considered to be the "crown jewel" of Hilton Head Island real estate.

Charles Fraser, himself, peddled oceanfront lots for $3000 - $5000 at the outset (today's prices are $5,000,000+). Of course, back then you could only get to the Island by ferry - the drawbridge opened in 1956. There were no golf courses or hotels, and fine-dining was a stop at the roadside fruit-stand for some fresh fish, shrimp and vegetables.

Today, Sea Pines is owned by Bill Goodwin/The Riverstone Group (who also owns Colleton River Plantation across the bridge in Bluffton) who is making a substantial investment in the communities' infrastructure. Currently, the Sea Marsh Golf Course is under renovation as Goodwin is spending millions to update the links which opened in the 60's. The course needed new drainage and a 21st century face-lift to make it competitive with other new courses in the area.

The golf course renovation is the first step in Sea Pines' move to update the Plantation Club Conference Center, which is the Pro Shop for both the Sea Marsh and Ocean Courses. The convention facilities are outdated and with a prime location, which is literally minutes to the beach, the highest and best use of the property is to eventually tear it down and build a new facility - clubhouse/conference facility.

Plans call for a future boutique hotel (100 rooms) to be built on the site with an upscale spa and the possibility of a limited number of condominiums. Hilton Head real estate will get a shot in the arm - specifically Sea Pines - once this project gets underway (scheduled to occur in phases over the next 5 years). It should have a substantial positive impact on the property values in the immediate area.

Hilton Head Real Estate: It's A Buyers' Market

When Supply exceeds Demand in the real estate world, a Buyer's Market is created. It's really that simple. Low interest rates between 2002-2005, provided people more purchasing power and allowed Hilton Head real estate prices to escalate because property was now more affordable. Demand increased, investors jumped in with both feet (especially with condo/villas) to fuel the buying frenzy, and at some point, there's a "train wreck" as demand no longer keeps pace with supply. Hilton Head real estate was not effected by New Home construction as in some markets, but many Sellers wanted to cash-in on rapidly appreciating prices and inventory has swelled to numbers not seen in 5 to 10 years. The Hilton Head real estate market is a Buyer's Market.

What does that mean quantitatively? Some Hilton Head real estate can be purchased at prices seen before 2004/2005. Not all properties of course, but between investors (a lot who are local real estate agents) who need to liquidate portfolios and spec builders who have standing homes for sale, it's a great time to acquire an excellent value in Hilton Head real estate.

The real bargains are in condos/villas. First of all, no condo/villa I'm aware of will "cash-flow" as a short-term rental (unless you put down a large deposit) at today's current values and relative rental rates. If you're looking for a property to "cash-flow", it's not on the Hilton Head real estate radar. But the opportunity for future appreciation is quite possible based on what property has sold for in the past.

I predict the Buyer's Market will stay strong through the Spring of this year and maybe into the Summer. They say timing is everything. So if you're in the market for Hilton Head real estate, take advantage of this very rare Buyer's Market.

Buy Hilton Head Real Estate $100,000 Below Market

Want to take advantage of the incredible run-up in Hilton Head real estate prices of 2005?

With available inventory hard to come by and demand "off the chart" in the summer of 2005, there were crazy bumps in condo/villa market, as each new listing saw a 5-10% increase in price. Of course this happened in a number of markets, but as the real estate (buyer) juggernaut "hit the wall" last year, you can now find exceptional buys in condos/villas throughout the Island.

For example, a two-bedroom Beachwalk villa in Shipyard Plantation - closest complex to the ocean - Crown Plaza Hotel and VanderMeer Tennis Facility - only a 5 minute walk to the beach (if that), is for sale for the low $400's. Similar villas in the same complex have sold for over $500,000. A 3 bedroom Hickory Cove villa in Palmetto Dunes Resort - 5 minute walk to the beach - is on the market below $500,000 where similar villas have sold for over $600,000. And these are just a few of the great values available.

Here's the question: when will the Hilton Head real estate market get back to those numbers? If I buy for $400,000, can I expect $100,000 in appreciation based on those previous closings in 2005/2006? How long will it take: a year, two or 5 years? I don't have a crystal ball, but my instincts tell me it won't be too long belong before we see prices back where they were in 2005.

Here's why: Hilton Head is surrounded by water and unlike Las Vegas, Phoenix, Orlando, etc., there is no more land to develop. Supply is fixed and demand, though it has subsided lately, will continue to push up values of prime Hilton Head real estate, especially as mid-west and northeast Baby Boomers age and want to relocate to our sub-tropical climate. When will it turn around? Well, "low hanging fruit" (undervalued Hilton Head real estate) is now being scooped up and those savvy buyers will most likely take advantage of this "slow period" by buying right. Sometime in the future, they'll tell you how "smart they were" back in early 07.

What's your take on current Hilton Head real estate conditions? Will spring see demand increase or will we continue to flat-line for a while?

Hilton Head's Oceanfront Real Estate

February 7, 2007

What's Hilton Head's #1 attraction? The BEACH! The latest survey done by the Chamber of Commerce says it's our "relaxing and rejuvenating lifestyle" which, granted, is hard to beat; but, my guess is if we didn't have the Atlantic Ocean in our backyard and 12 miles of white hard-packed sandy beaches, we wouldn't be any more popular than Greenville, SC or Columbus, GA.

You mention Hilton Head Island and so many folks want to talk about golf and the Heritage (it's the MCI or Verizon or, well, we never quite know who the sponsor will be) and we have some of the finest tennis facilities in the country - I think we have 3 in the top 5 - but take away the ocean and we'd have a lot of empty vacation rental homes and condos (they wouldn't have been built in the first place I imagine.)

Ask any rental management company on Hilton Head, we are a SUMMER RESORT. The weeks between June 1 and Sept 1 are almost guaranteed to be rented. And at the top of the line rates. Interestingly, the most expensive vacation rental homes are usually picked over by the end of January for the summer. Many vacationers already booked their week or two while they were here last year to make sure they had their place in the sun guaranteed. And we're not talking "chicken feed" here - some folks paying north of $10,000 for a luxurious 7 or 8 bedroom direct oceanfront with every "bell & whistle" you can imagine! Of course, in a lot of cases, the two, even three families are sharing the bill - but with an ocean view and your own pool and spa - and a whopping 30 seconds to jump in the surf, you can see why oceanfront real estate on Hilton Head is always a hot commodity.