WHY YOU SHOULD BUY NOW
At a recent symposium presented by several local Realtors, emphasis was placed on the reasons consumers should invest in real estate on Hilton Head Island right now, rather than putting it off until some time in the future. Here are the facts:
The right time. Selection is great--you can pick and choose from several homes. That may not be the case when inventories of existing homes, which are higher than they have been in decades, decrease as sales pick up. Right now there are 6,144 listings with the Multiple Listing Service, as compared with 2,348 in April of 2005. If you were buying real estate at that time, you might have to take less than you wanted and "make do." Now you can have just exactly what you want. What are you waiting for?
The right reason. The Sun Belt-that's us-is growing and the buyers are coming. Kiplinger reported in December of 2006 that by the year 2030, population is expected to increase by 52 percent. And in our particular part of the Sun Belt, careful planning and diligent care have made our Island a unique place to live. People just want to be here and be part of our terrific lifestyle. The natural beauty, temperate climate and first rate amenities are unbeatable anywhere in the world. What are you waiting for?
The right place. Comparing upper end waterfront property from Virginia to Florida reveals that properties on Hilton Head Island represent outstanding value as compared to similar resort areas, such as:
Boca Raton $15M Jupiter Island $25M Marco Island $12M
Miami Beach $35M Naples $18.5M Outer Banks $15M
Palm Beach $28.9M Sea Island $19.8M Vero Beach $27M
Virginia Beach $24.5M
Compared to the highest priced oceanfront property on the market on Hilton Head Island at $9M. What are you waiting for?
The right price. Many experts agree that this is the bottom for the Hilton Head Island market. The average price of a home on the Island fell from $628,728 in April, 2006, to $580,046 in April, 2007, a drop of 9%. The average villa price a year ago was $419,260 compared to $375,702 in April 2007, which is 11% less. This is the first time in more than 10 years that prices have declined. As with stocks, the time to sell is when the price is high, and the time to buy is when the price is low. What are you waiting for?
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