Real Estate Information

MIXED RESULTS IN A MIXED REAL ESTATE MARKET!!

Hilton Head Island has experienced a sharp rise in home sales since the first of the year which is quite a pleasant surprise for our so-called "winter" months on the island.  Normally Hilton Head is the perfect place for residents to enjoy the island without having to make advance tee times for golf or be concerned with having others on their beach while walking and enjoying the beauty of the ocean and bird life.  This January and February has produced very mild weather, sunshine almost every day, and temperatures hovering around the 65-70 degree mark.  Visitors and residents of Hilton Head Island alike got a good taste of the good life that Spring on Hilton Head Island is all about and the island was busy and thriving!  This, coupled with so many excellent prices on property all over the Lowcountry caused the motivation to purchase and take advantage of all the great opportunities on Hilton Head resulted in the rise in sales. 

The rise in home sales has been tempered by a modest drop in the median  selling price from 2011.  In January of 2012 sales increased on Hilton Head Island by 20.2% but the sales prices decreased by 4.5%.  In Beaufort County off Hilton Head  Island, residential sales declined by 24,2% while prices in Beaufort County off Hilton Head Island, increased  by 2.3%.  The explanation for this mixed message appears to be that there are more foreclosures and short sales off Hilton Head Island and in Beaufort County and these short sales and foreclosures are dragging prices down across the board.  This will continue as we work through these short sales and foreclosures and find a base to the market from which we can finally see some upside to the market on Hilton Head Island.

Once buyers realize that we are at the bottom or near the bottom of the market on Hilton Head Island, we feel that buyers will anxiously enter the market for very little has changed on the island that would normally affect value.  Hilton Head Island is still the premier resort and residential area on the East Coast.  Our beaches are the most beautiful on the East Coast, our golf courses excellent and too numerous to play them all, shopping, tennis, boating, dining and just plain relaxing and enjoying the natural beauty and environment of this pristine area will always make us at the top of the list for savvy investors and those seeking a refuge from the "real world".

If you are waiting for a better time to buy, don't wait too long.  You may get left behind!!  

Happy Friday to everyone!  There are some great events taking place on Hilton Head Island this weekend.  Check them out, enjoy and have fun!

Feb 11th: 10th Annual Publix Hilton Head Island Half Marathon & 10K/5K hosted by Bear Foot Sports at Jarvis Creek Park, 8 am (843)-757-8520 or http://www.bearfootsports.com/

Feb 11th: Valentine's Day Fund-Raiser to benefit the Hilton Head Humane Association.  Pineland Mall from 11am-2pm.  Music, silent auction, games, prizes pictures and of course pet adoptions. 

Feb 11th: A Taste of Gullah: Native Island heritage is the star of this Gullah celebration.  Taste lowcountry specialties including BBQ ribs, shrimp and grits, rice and beans, okra gumbo and sweet potato pie.  Enjoy stories, gospel choir, drums and dancing and Gullah-inspired crafts.  Bring your own chair.  Arts Center of the Coastal Carolina - 14 Shelter Cove Lane. 

Feb 12th:  Hilton Head Humane Animal Shelter - sweets and treats for you and your four-legged friends, 11am - 4pm. 

Feb 12th: Oyster Roast: Old Oyster Factory from 12-3pm.  $20 all you can eat oysters and lowcountry boil.  Live music from the Simpson Brothers and great drink specials!  101 Marshland Road - (843) 681-6040 http://www.oldoysterfactory.com/

Feb 13th:  The Hilton Head Symphony Orchestra presents "The Classics: Haydn and Beethoven" featuring guest conductor Daniel Meyer and cellist Narek Hakhnazaryan at First Presbyterian Church, 8pm at 540 Wm. Hilton Pkwy. (843) 842-2055 or www.hhso.org.

Feb 16, 17, 18 & 19: Dirty Roteen Scoundrels: Hilton Head Prepartory School.  7:30 pm and 2 pm on 19th.  Tickets available at http://www.hhprep.org/
 

What recession?  There’s plenty to “talk about “on Hilton Head Island

Our Hilton Head Island mayor reminded us in last Sunday’s newspaper all the redevelopment projects for Hilton Head area. It’s refreshing to see not only the Town Council but also the private entities revitalizing Hilton Head Island!  So much of Hilton Head was developed in the 70’s and this is a great start to keeping us in the top rankings of other competitive Beach Resort destinations.  Not to mention it will help Real Estate Values increase by more demand and exposure for the properties on Hilton Head Island.

The Westin Hotel (Port Royal) announced a 30 Million dollar renovation to its property which will accentuate the Atlantic Ocean with the Beach re-nourishment project.  Another Hotel making some changes is the Hilton Oceanfront Resort in Palmetto Dunes.  Not only are they starting renovations this September but they have now become the Omni Hotel; touting the only Omni in South Carolina.   The Shelter Cove Mall will see some big changes in the next year!  We can’t wait to see what’s going to happen!   

We’ve heard talk about redevelopment for the Coligny Beach area the last few years and it appears they  are getting closer to finalizing the plans.  Many locals call this area “Downtown Hilton Head”; which is home of the notorious Holiday Inn and Tiki Bar.  The Holiday Inn  @ Coligny Beach has already,  completed its renovation of facilities; so be sure an go see them next time you’re in the Hilton Head Area!

Other commercial areas that will have a great effect to not only the residents here but also the tourists are worth noting.   For us who live on the south End of Hilton Head Island we will have a new grocery store to shop at in April.  The Harris Teeter (aka “the Teeter”) will be bigger and better than ever.  The plans will make it easier for parking and attract other small businesses to the complex.  On the North end Wal-Mart is undergoing an expansion and renovation to include grocery items, general merchandise, an outdoor garden center and an automotive-care shop.  What Recession?

Harris Teeter

http://www.islandpacket.com/2009/06/23/884473/neighbors-happier-with-harris.html

Walmart

http://www.islandpacket.com/2011/01/25/1523920/walmart-seeks-expansion-in-order.html

Westin

http://www.islandpacket.com/2011/12/14/1896516/luxury-hotel-chain-to-overhaul.html

Coligny area can be found on the town site for those who wish to comment or just get a peak…

http://www.hiltonheadislandsc.gov/departments/commdev/Redevelopment/coligny/colignyredev.cfm

Just over the bridge from Hilton Head, SC is apparently the country’s best hotel, the Inn at Palmetto Bluff.  Some of the awards the Inn has earned are: 2012 Five Diamond rating from AAA (one of only 4 properties in South Carolina to receive this rating), Forbes Travel Guide Four Start Award for 2012, and last year the Inn at Palmetto Bluff was named one of the 500 best hotels in the world by Travel & Leisure. 

Recently one of my friends stayed at Palmetto Bluff and below is her testimony.  

My husband and I stayed at the Inn at Palmetto Bluff back in December 2011, and it is absolutely beautiful.  The Inn is situated on 22,000 acres, and gazes out over the May River.  We stayed in one of the cottages overlooking the lagoon, and they are quite roomy with a large bedroom, private fireplace, beautiful bath, and a great screened in porch.  The amenities are plentiful because they have a 3 mile waterway for fishing, canoeing, kayaking &, biking, 2 tree houses, croquet, bocce, Jack Nicklaus golf course, and a beautiful pool area. 

As far as the restaurants, we dined at the General Store for lunch, the River House Restaurant for dinner, and Buffalo’s for breakfast.  I would say that 2 out of 3 are not bad.  We were disappointed in our meal at the River House Restaurant and we actually thought the more casual menu offered in the bar and screened porch area was more appealing to us than the menu in the main restaurant.  Hopefully as the Inn becomes more popular and well known, they will begin to offer a more extensive menu because we honestly thought the restaurants on Hilton Head such as Red Fish, Michael Anthony’s, Sage Room, and Charlie’s have better food and choice. 

Let’s talk about the Spa.  The Spa is incredible and something you definitely need to do if you are going to stay at the Inn at Palmetto Bluff.  The staff is fabulous and the facilities are beautiful.  It was a great experience!

The Inn at Palmetto Bluff is managed by Auberge Resorts, enough said!!!!  They only manage 6 facilities around the country and it is a true testament to the Low Country that Auberge agreed to come and run the Inn in Bluffton, SC.  The staff, the ambience, the accommodations, activities, and the food make staying at the Inn at Palmetto Bluff a once in a lifetime experience!