Real Estate Information Archive

Last week it is believed a Civil War era boat was discovered on the banks of Calibogue Sound off the 18th Tee of Harbour Town links in Sea Pines Plantation See Island Packet article....while I wish I had been playing golf ON the tee at the time, or walking along the beach, sadly I was not..... but, glad a visitor to the island was...... this find is one of many that bring home the notion that Hilton Head has so much more to offer everyone than just great beaches, golf and tennis.....The island has some fantastic History too.....As a vacationer, a resident or visitor you owe it to yourself to get out on the bike paths(historical markers are everywhere) or enjoy the Gullah Tour of the island....heck even if you find the rare bad weather day our local TV station WHHI offers some pretty cool insight into the history of this great Island...

As far as more recent history goes, and specifically recent Real Estate History on the island check out 2010's Real estate Market Stats for the beach oriented communities on the island(Sea Pines, Forest Beach, Shipyard, Palmetto Dunes, Folly Field) This is a pretty cool way to check out how the market is progressing and compare it to 2009, and perhaps see some trends for the New Year. The data was compiled from HH MLS..

For Hilton Head Area Property Owners visit www.ForHHISellers.com to get a FREE market update specific to your property e-mailed directly to you anytime....knowing your history both old and more recent is always a good thing!

Just yesterday I was meeting with some investor/vacationers/potential buyers about their investment goals and suitable homes for their needs....they, like most everyone nowadays, have been searching the internet for about 2 months before they came down for their vacation this summer and thought they had found the best deals on the island based on the price....they came prepared with about 30 properties, some of them Foreclosures that they thought would suit their needs.(in reality after all their work only about 5 of the ones they selected were going to work for their needs)

With so many types of Homes and villas for sale, and so many desperate sellers, in so many different areas of the island, unless you've been doing this for a while, and are familiar with all the neighborhoods and their locations, amenities, proximity to the beach it can be quite confusing....... when you see a 2 bedroom villa listed for $65,000 on island-----that has to be a great deal right? It all depends........ what are your needs?

It's imperative you find a Realtor who can answer your questions about all areas that may suit your needs, He/she needs to be able to explain why one area is better for you than another,  perhaps point out other areas that would work for you, and then point out the best values in those areas based on your needs.

The internet is a fantastic tool, but with so much property for sale you can save a lot of your time by contacting Realtors early in your search to interview them, or check out their level of knowledge so to speak....tell them a little bit about what you want to use the property for, give them your true targeted price range..A Realtor will be able to send you the best properties for your needs and be able to explain why they are the best options for you. Then once you've learned which areas are best suited for your situation you'll be able to work with that agent to explore any and all possibilities as new options come on the market.

In the end finding and working with an agent early on can save you lots of time and effort scouring the "net" trying to find out:

1) "where is mls 4455599 is located" 2)"what have other comparable properties sold for"? 3) "what kind of rent could I get from this"?

There are lots of great agents here on Hilton Head, and lots of great deals, just need to do a little bit of work to find them both.... 

Obviously, all property owners in Beaufort County have received their new assessed value statements from the assessor's office, I know I was a little shocked to see the valuations for both my personal home and investment properties...the following is from Marsh Rabun, a certified Appraiser in Hilton Head. It may help answer a few more questions for you, or she may be able to help in any challenges you would like to make with the Assessors Office.

Beaufort County Reassessment 2009

 The SC state legislature has mandated a reassessment every 5 years. The last assessment was dated December 31, 2002 so the current assessment date is December 31, 2007. This is necessary to compare all properties in the County at a single point in time.

For a home that has not transferred title, the assessed value of each property in Beaufort County is capped to a 15% increase by a state law passed in 2006. It is capped at the 15% increase, if does not transfer title, for the next 5 years, if no physical changes are made to the property.  For instance, if your assessed value in the last assessment was $300,000, the current capped value could not be higher than $300,000 + 15% of $300,000($45,000) or $345,000.

Also due to the state law passed in 2006, if your home HAS transferred title by sale, to/from a trust, or by will since January 1, 2007, there is a Point of Sale reassessment(AKA Assessable Transfer of Interest) which MAY be greater that the 15% capped assessment on the property had it not transferred. If it transferred in 2008, its value  will be “trended back” to the December 31, 2007 date based on comparable properties-like properties in a similar location selling at that time. 2009 sales have not been considered at this time.               

As a homeowner, you may not be satisfied with your assessed value and may think it needs to be appealed.  There are few important points to remember and consider.

1.       The date of the taxable value placed on your property is December 31, 2007 and that date cannot be changed, although the market value has declined, in some cases significantly declined since that time.  Sales from 2007 and as late as very early 2008 may be considered as comparables, not sales later in 2008 and 2009. Think about what your property was worth in December 2007, not today. Unfortunately, today’s values don‘t count.  

2.       If you feel your property is assessed incorrectly due to significant discrepancies in physical data, -factual errors-in overstating living area  and features, this may be grounds for an appeal. However, if these errors that have been made are in your favor, an appeal may bring them to light and you may end up with a higher but at least more correct assessment. If you have questions about the physical characteristics of your property, you may go to www.bcgov.net, and under Departments, go to Assessor’s and go to Property Max and enter your last name or tax account number to find living area and other features considered.     

3.       The hard working employees of the Beaufort County Assessor’s office have a difficult job in assessing 126,000 parcels equitably and in compliance with state law. They are responsible for providing a market value as of December 31, 2007. However, it is the “Taxable Value” that is important since that is the value that partially determines your taxes. Assessor’s office personnel are available for questions at 843-470-2522(Beaufort, 843-757-1500X 226(Bluffton), 843-341-8411(Hilton Head Island).

4.       If you would like to appeal your taxable value, you have 90 days from the date of the notice from the Assessor’s office to file the appeal.  You can file the appeal yourself, or have an “Authorized” person file an appeal for you. Only certain people may be “Authorized”. Attorneys, CPA’s, Corporate Officers and Full Time Employees, Partners and Fiduciaries, IRS Agents, and SC Licensed and Certified Appraisers may be “authorized” representatives. There are several good appraisers in the area who could act as your authorized representative since they would also be able to do an appraisal of your property as of December 31, 2007 which would be helpful in proving your case. Real estate agents and brokers cannot be authorized to act on your behalf unless they also fall into one of the other categories. Proof of eligibility and written consent from the owner/taxpayer must be provided to the Assessor.

I hope this information has been informative. Please let me know if I or any of my colleagues may assist you in appealing your new taxable value.

Cordially,

Marsha W. Rabun

SC Certified Residential Appraiser #2691

Rabun Associates LLC

P.O Box 23674

Hilton Head Island, SC 29925

Office Phone-(843)686-3344

Cell Phone – (843)384-3214

Email - marsha911@hargray.com

They're Baaaack.....well, sort of......I'm definitely getting more phone calls and e-mails from those baby boomers who figured out, that even in these more challenging economic times, they weren't going to stick around Pittsburgh or Cleveland after retirement...they appear to be back focusing on property for "down the road" when they take the retirement step, even if it will have to be a little less than what they may have been thinking about 2 years ago... 

Perhaps it because of articles like this one  Best Tax -Friendly places to Retire located on www.MSN.com where Hilton Head is mentioned by name, or maybe it's just because Hilton Head continues to offer som much for every kind of buyer.

Or maybe it's because prices in many areas of the island communities are back to 2002 and in some cases earlier levels than that...

 In fact I've just helped a great couple from New Jersey, Steve and Kathy, find the perfect house for their needs. A little background........Steve's parents live in the area and they love the island...after previewing many homes in the Bluffton and Hilton Head area, they focused on a great island community of Hilton Head Plantation, and we found one property that in particular suited their needs...the house showed very well and was priced competitively, after reviewing the market data for the area and looking at current market conditions we made an offer, unfortunately the seller wasn't willing to move off the asking price very much, so we found ourselves reevaluating our position...upon doing so we started to think if we are going to pay X amount for this house what other homes are available that may sell for this price point.....we went back to a house that at first glance seemed a bit out of our target price range, did some research and decided to make an offer, again based on market stats and sales data..and low and behold we GOT it!.......in the end the house that was priced a little higher had a seller who was obviously more motivated to sell, and we got a great deal..

This same scenario can play out, and is playing out Island wide...so if you you are thinking about a move to the HIlton Head Area, do your homework, find a good Realtor(preferably Sean Ryan and Associates) and get to work finding the house of your dreams, be it for retirement, vacation, or full time, the deals are out there, you just have to know where and what to look for.

Last week I had the pleasure to catch up with some old friends of mine who were visiting the island with their families(they all have young kids like mine) and they were commenting how great the beaches are here...not to mention the fantastic network of bike trails, lagoon systems, and parks for the kids....Of course I was pleased to hear their comments as these are all things that I believe distinguish Hilton Head from other barrier island and resorts up and down our coast..and are a few of the reasons why more and more people continue to come and visit the island every year......

Interestingly I just read  the latest "best beach" poll on line at MSNBC.com Natural Resources Defense Council 2009 Poll  and found it interesting the poll gives stars for frequent water testing, and it appears those beaches that tested more regularly did so because of a higher probability of issues with the water.....now I may not be reading this correctly, but it seems to me a beach with quality water, water that seems to have tested well since this poll started should rank as high if not higher because of the lack of need for frequent testing.....but that's just my opinion. 

Come and see for yourself if you don't know our beautiful island already....and if Real Estate is something you are interested in please contact me Sean Ryan at www.LiveOnHHI.com I'd love to help you find out all the great opportunities this area has to offer

It's great living here on Hilton Head Island, so many things to do, but as Islanders we sometimes forget about all the great activities we may not be appreciating or taking advantage of. Of course the beaches are the best, and the variety of golf courses can't be beat, and we have more restaraunts then we know what to do with...but there are other fun activites that too.....

Last night we took my Mother in law on a sunset cruise on the Pau Hana-"Pau Hana" roughly translated means -after work-........ an excellent name for a great catamaran that can entertain small private parties or groups up to 50.. It was about a two hour criuse and the beautiful sunset and gentle breezes reminded me of how lucky I am to be able to work and live .... and help so many others find their dream homes, and in a lot of cases make this their permanent home too.

If you are thinking about investing or moving to the area, or just have questions in general about places to eat, sites to see please don't hesitate to give us a call or visit our website at www.liveonhhi.com....we'd love to introduce you to all the area has to offer and put or knowledge and services to work for you.

Reports by the media, and powers that be "that 2009 will bring a recovery from the recession" may end up being true and it  may not, only time will tell....but in my humble opinion just as the constant doom and gloom  created an unbelievable haze over investors in both the equities and real estate markets, I have a strong feeling this more "favorable" message will create a more "comfortable" investor in the coming months for Hilton Head Real Estate......perhaps Hilton Head is already benefiting from this change in psychology....per our Hilton Head MLS, the number of homes under contract in the last 23 days(54) is more than double the entire amount of homes under contract in the month of January this year(25). The same holds true for the condo market On island villas/condos under contract in January 2009 was (31) so far in the month of April up until today there have been (52) villas to go under contract....I'm sure some of this is being driven by the small foreclosure market we have here, as well as some dramatic price reductions almost across the board....don't get me wrong it is still a buyers market here...but keep checking the sales numbers and I'll bet you find us doing better and better in the months ahead....You can call Sean Ryan and Associates anytime for updated lists of foreclosed properties on Hilton Head or visit our site and click  on the Foreclosure link at www.LiveOnHHI.com.

Everyone wants to know when the Hilton Head Market is at the bottom.......the problem with waiting for the bottom is that it's almost impossible to time it, only one sale will represent the bottom...... what you have to do is be educated and find the "bottom range"----I believe this is a range that, through analysis, becomes evident, and I believe that for a number of different property types(homes, villas, lots) in many different communities (for example Hilton Head Plantaton) here on the island we are currently seeing those ranges.

The other problem with waiting is that the interest rates (which are currently at incredibly low levels) may move up....think about it a 10 percent market drop in prices is nullified by a 1% increase in interest rates on a 30 fixed loan...so waiting for another drop in prices and missing out on these fantastic rates may be something to consider.

Sean Ryan and Associates can help you target the best properties for your specific needs and then help you analyze the numbers to help you determine the " bottom range" and figure out the best plan to formulate and present an offer so you can take advantage of these historically low rates, and this incredible buyers market. Just call us at 843-842-4400 or visit us at www.LiveOnHHI.com.

Folks..... to say anything more about the state of the economy is pointless.....and we certainly are seeing the effects down here in Hilton Head. The real estate market is still pretty flat, but frankly we've been working hard and are still helping our clients buy and sell homes every month. We are seeing some areas where prices are already starting back up and still others where no sales are happening, so prices will probably still move down.

I have repeated to friends, clients and associates, this "crazy" environment has lots of similarities to a time not that long ago......it was about two and half years ago when standing in line at the Coligny Bi-lo I overheard the checkout girl telling another associate she was buying an investment property.....I listened a bit more and found out she was buying into one of the apartment conversions where the developer was paying for the first year's condo fees....now looking back it is clear to see when everyone is talking about buying an "investment" property, that it was probably a good time to sell......now fast forward to October 10, 2008, everyone is talking about what they will have to sell to live.....I mean young and old together think it's the end of the world....the same level of "nuttiness" is showing itself at the opposite end of the spectrum......   now I'm not here to say the bell for the bottom is ringing, but I will be happy to bet anyone who reads this post a dinner  that in 15 months, the Hilton Head and Bluffton market will have recovered and be seeing some nice gains.... I know those who want instant gratification will think that's not soon enough, but like any other investment worth making, a long term perspective is what the smart money looks at.

Please feel free to call me, Sean Ryan, to take me up on the bet, or to find out more about some awesome opportunities. There are some fantastic deals, foreclosures, short sales, and just plain motivated sellers. Now more than ever it's important to have a Realtor who is looking out for your best interests, please let us work for you.

Well .......here we are July 2008 on beautiful Hilton Head Island. The slow economy doesn't seem to have slowed the tourists, they are here and it now takes me nearly 10 minutes to get home from the office in the evening.......of course I'm not complaining....The Hilton Head Real Estate market is still pretty flat with periodic signs of improvement followed by longer periods of relatively little sales activity.

Definitely a period of adjustment, but an even greater period of opportunity. Prices in a number of different communities and sectors are back to 2005 levels......Of course a deal on a $3 million dollar oceanfront house may not be for everyone, but there are similar "deals" in nearly every category of property for sale, from homes to villas, from land to timeshares...some people have sadly gotten in over their heads, and they need to sell yesterday!

Sean Ryan and Associates continues to monitor the market and we constantly are updating our Hilton Head BEST BUY list ----just click on it to see some of the most motivated of sellers on the island.

Taking more of a real estate consulting position, we continue to help educate our buyer clients, so it's easy for them to see the best opportunities in the market based on their specific needs, budgets, and desires. We recently have helped clients purchase some of the best values in years in North Forest Beach, Windmill Harbour and Bluffton.

We've also been successful in representing sellers, by educating them to the current market conditions and working with them to price their properties appropriately, then promoting those well priced properties using the ultimate in marketing systems, and technological tools. In some instances we have represented 100 percent of the sales in the past 6 months in complexes like Ocean Breeze.

These are the best of times and the worst of times........anyone looking to buy or sell needs to choose agents wisely, find an agent who will represent your best interests whether you are fortunate enough to be a "liquid" buyer or a seller trying to move on from your current home.