Showing posts with label real estate. Show all posts
Showing posts with label real estate. Show all posts

Tuesday, December 9, 2008

Why Do I Love Hilton Head Island?


Well...here goes...

I moved to Hilton Head almost 19 years ago when I was hired as a tennis pro at the Sea Pines Racquet Club right after college. As a tennis pro, Hilton Head Island was (and is) the premiere location in the United States as there are over 300 tennis courts with 4 tennis resorts included in Tennis Magazine's Top-50 Resorts list each year.

The ambiance of the Island coupled with the fact that so many happy people reside and vacation here make life on the Island very appealing. Aside from the miles of incredible beaches, the purest green fairways you can imagine, and the thousands of tennis balls smacked back and forth, one of my greatest and most comforting pleasures of being a resident is when I see a friend, customer, past tennis student, or acquaintance at the grocery store or post office. To live in a "big city" means rarely seeing folks that you know out and about, but on Hilton Head Island, it often feels like the small town of Mayberry with an international magnetism.

After 14 years as a tennis pro, I decided to take the next step in my life to pursue a career in residential real estate on Hilton Head Island, Daufuskie Island, Bluffton, Hardeeville, and Ridgeland, South Carolina.

Hilton Head Island is truly the gem of South Carolina while Daufuskie Island is our version of Gilligan's Island with its unpaved roads, lush tropical climate and surroundings, and a unique exclusivity due to the fact that you can only get to Daufuskie Island by boat. You would be amazed at the oceanfront opportunities you'll find on Daufuskie Island!

Bluffton is a fast-growing small town which offers a tremendous variety of community styles, homesites, townhomes, villas, and new communities such as Tradition, Mill Creek, Hilton Head Lakes, and Abbey Glen just to name a few. Bluffton is also the proud host of several very exclusive gated country club communities such as Colleton River Plantation, Belfair Plantation, Berkeley Hall Plantation, Hampton Hall Plantation, Hampton Lake, and Hampton Pointe.

Hardeeville and Ridgeland are two sleepy small towns with healthy growth planned over the next several years and offer opportunities for large parcels of land at minimal pricing. This is appealing to many buyers as these two towns are within 25 miles of the coastline!

Over the past several years as a REALTOR, I have researched and learned a tremendous amount of vital information pertaining to Hilton Head Island and the Lowcountry including coastal insurance, property taxes, rental issues, construction materials, quality builders, and of course the ebb and flow of our local real estate market.

As a young tennis pro, many of my tennis students asked me "Where do you go on vacation"? My response has always been the same: my vacation is on-going and is part of every day on Hilton Head Island. If you have a tennis racquet and a can of balls, a set of golf clubs, a pair of walking or running shoes, a beach chair and sunscreen, a pair of sunglasses, a love for boating & fine dining, and an interest in experiencing the great outdoors, then Hilton Head will offer you a lifetime of vacation memories every day you wake up.

Because of my infatuation for all things Hilton Head, I feel very lucky to be a realtor on Hilton Head Island where my job requires me to assist future residents and/or investors in choosing their dream home.

I'd love to hear other stories of Hilton Head Island and what the Island means to you!

Wednesday, November 26, 2008

Floyd Wickman SMART Program -- I Graduated!

I had the pleasure and opportunity to attend the Floyd Wickman Program this fall on Hilton Head Island.

My broker at Dunes Marketing Group organized for a Floyd Wickman trainer (Robyn) to give our group of 100+ agents a presentation highlighting the Floyd Wickman Program. After the presentation, several agents and I registered for the course.

WHAT DOES THE FLOYD WICKMAN TEAM DO?

They help brokers and their agents increase sales by causing them to:

Master the art of Listing and selling real estate.
Build and maintain a Salable Book of Business.
Become and stay organized.
Value the benefits of Teamwork and Mentoring.
Live by 5 client- and company-friendly Core Values.

S.M.A.R.T. PROGRAM: 7 weekly sessions teaches agents how to prospect their sphere of influence and FSBO's; generate referrals; control the complete listing appointment; price the listing so it is salable in the toughest of markets; service the listing; convert incoming and Internet inquiries into office appointments; sell more properties; create a business plan and focus for achieving that plan; work as part of a mentor group.

Includes:

1. 8 CD's

2. 1 DVD

3. Course Manual

4. Online resources

CORE VALUES CLUB: 1 year follow-up to the S.M.A.R.T. program (no additional charge) designed to help the agent fine tune all of the listing and selling skills taught during the 7 weekly sessions; and, to master the personal success characteristics necessary to achieve long range success.

Includes:

1. 12 monthly audio messages

2. Online resources

THE MASTER SALES EVENT: A 3 day event during January, limited to Floyd Wickman graduates designed to recognize achievement and to create a business plan for the New Year. To help agents achieve at a higher level.

Includes:

1. National speakers

2. Added value workshops

3. Referral sharing

4. Higher level skills

Thursday, November 20, 2008

Housing Affordability Is Up!


The Home Builders Association of South Carolina published a very interesting article in their latest newsletter.


With housing prices down, and rates still historically low, housing affordability is the best in 4 years.


Click HERE to read the full article.

Wednesday, November 19, 2008

The Difference Between Pre-Qualification and Pre-Approval




Ben Russ, Vice President of Hilton Head Mortgage sent me the following pertinent information regarding financing for a home on Hilton Head Island.

Pre-qualification is the first step in obtaining mortgage financing.

A potential borrower answers a few questions to provide the loan consultant with a quick snapshot of the borrower's income, existing debt, accumulated savings and whether or not there is a co-borrower. Signatures allow the loan consultant to run a credit report and begin to determine what loans are good candidates for this particular client. However, there are literally thousands of loan programs available.

It is important for the loan professional to know the long-term financial objectives of the prospective homeowner.

Pre-approval is a written documentation that proves the borrower has full support of a lender.

It means the form 1003 Uniform Residential Loan Application has been completed and reviewed by an underwriter. Based on the borrower's income, debt ratio and savings, the underwriter will provide a dollar amount this borrower is eligible for.

Now the borrower has the convenience of shopping for a home in the price range agreed upon by the lender.

Pre-approval allows potential homeowners to shop as cash buyers, and that means negotiating power. The seller will take an offer from a pre-approved shopper much more seriously and may even accept a lower bid because they know the financing is in place and the deal is secure.

For more information regarding the home-buying lending process on Hilton Head Island, South Carolina, or for real estate information, email me with your questions at HiltonHeadJR@aol.com.

Saturday, November 15, 2008

Avoid Foreclosure with Deed-In-Lieu

A common way to protect your property from being taken away by the lender on account of non-payment of your mortgage is a deed-in-lieu of foreclosure.

Deed-in-lieu is a process in which the borrower failing to satisfy the loan obligation hands over his property to the lender. The lender may then sell the property in order to retrieve a part or whole of the amount borrowed from the sale proceeds.

What is the process all about?

When you go for a deed-in-lieu in order to avoid foreclosure, you need to sign legal documents such as the Agreement in Lieu of Foreclosure and a Warranty deed, quit claim deed or a grant deed.

The first document reveals the terms and conditions of the deed-in-lieu, and is signed by both the lender and borrower.

The second document, which is the deed, conveys legal ownership of the property to the lender.

The lender marks the borrower's note as "paid" and provides the latter with two forms - one which states that the debt is canceled and the other which refers to the waiver of the right to a deficiency judgment (the lender's right to ask for the unpaid debt amount if it is not recovered totally by the property-sale).

The agreement for deed-in-lieu is executed through an escrow company which receives the borrower's note (marked as "paid") from the lender. The escrow then records the deed used for transferring legal ownership of the mortgaged property and sends the note to the borrower. The borrower is thus released from the liability of the mortgage payments.

Does a borrower need to pay tax in the process?

Once a borrower gets a release from the loan, he may have to pay deed tax provided he doesn't qualify for the tax relief under the Mortgage Debt Forgiveness Tax Relief Act applicable till the end of 2009.

As per the Act, one need not pay tax on canceled debt (unpaid loan balance which is forgiven by lender) resulting from deed in lieu. The tax is calculated on the basis of unpaid balance.

Now, even if the lender may not collect deficiency, the borrower may pay cash towards the unpaid debt to avoid a negative impact on his credit report. This extra cash serves to reduce the amount of unpaid debt which is the basis of the deed tax.

It may happen that the lender pays the borrower a certain sum of money in return for the deed-in-lieu when there is some equity in the property. In such a case, the cash offered to the borrower is added to the unpaid debt in order to determine the basis of the deed tax.

More questions? Contact me at HiltonHeadJR@aol.com if you need more information regarding foreclosures, short sales, etc.

Friday, March 14, 2008

FHA Raises Loan Limits

Great News! The U.S. Senate recently voted 93 to 1 to raise the loan limits on government insured FHA (Federal Housing Administration) mortgage loans.

This is in response to the recent credit crisis and collapse of the sub prime mortgage market. The intention is that this will enable borrowers who deserve a mortgage to obtain one and at the same time allow those current mortgage holders to refinance their existing mortgages to lower payments.

FHA loans are frequently used for “first time homebuyers”. This is because these buyers commonly have decent credit, low monthly expenditures, but not a lot in the way of liquidity. An FHA Mortgage allows 97% financing with minimal out of pocket costs and more forgiving credit scores. FHA also offers attractive interest rates which is a big advantage over the high rates of previous sub-prime mortgages.

However, in the past FHA has been capped in Beaufort County at $284,000. With this increase in loan limits the new limit will be $387,500. This will allow more buyers to take advantage of home prices in Beaufort County and utilize the advantages of FHA Mortgages.

So what’s the bad news? At this point the Senate has only voted on this increase in loan limits until the end of 2008.

For more information on FHA Mortgages please call Tony Knapp from Mortgage Network at 843-341-0111.

Tony is a member of John Robinson’s Performance Team and a loan officer for Mortgage Network, Beaufort County’s largest and most respected mortgage lender.

Saturday, January 26, 2008

Hilton Head Island Money Talk

Chances are that you have been watching with keen interest, the wild gyrations of the financial markets over the past number of days, and like me, wondered what in the world does all of this mean?

Are we heading into a Bear market or are we already through one and now into a Bull market? Is there a recession in our future? Job growth would indicate not. Is this instant tax credit that the democrats & republicans are working on really the answer, and if so, to what problem? It's allvery strange.

The only certainty out of all of this is that the Fed's aggressive move on interest rates is going to have a significant and positive impact on our nation's real estate issues, by providing relatively cheap money, similar to what was experienced back in 2002-2003 when we re-bounded from the economic hit brought on by 9/11.

Rates are changing daily and there may be another round of reductions by the Fed next week. If you need guidance on current rates, current conforming loan levels and availability on Hilton Head Island, I’ll be happy to assist.

But be assured that money is readily available for good quality borrowers and at very attractive rates for non-leveraged borrowers. Additionally, sellers are very willing to cooperate in buying down rates as part of the negotiating process.

If you've been waiting for a sign that the time is right to reconsider real estate on Hilton Head Island, we may have just witnessed it in the financial events of this most recent week. No better time, especially if you have been considering a property capable of generating income production, as we're approaching the start of our busiest and most profitable time of the year.

Give me a call and let me help get you started in your quest for that perfect second home on Hilton Head Island.

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Thursday, January 24, 2008

Understanding Mortgage Lending

Many homebuyers seeking a mortgage are perplexed about the current state of available mortgage products. This is not surprising when considering all that has been in the media over the last several months.

At the heart of the issue are subprime borrowers and how they have affected global financial markets. Subprime Mortgages are a type of loan that is offered to individuals who do not qualify for prime rate loans. Quite often, subprime borrowers are often turned away from traditional lenders because of their low credit ratings or other factors which suggest that they have a reasonable chance of defaulting on the debt repayment. Over the past year many of these borrowers have defaulted on their mortgages which, in turn, affected financial markets worldwide.

Most U.S. mortgages are tied to global investment markets on Wall Street, where investment banks bundle them up and convert them into securities. These mortgage backed securities (MBS) are, in turn, sold to private and government institutions both in the U.S. and abroad. With the rise in mortgage defaults, a wave of financial loss has spread worldwide. This “crisis” has caused many mortgage lenders to go out of business including some nationally recognized companies that were deeply involved in subprime lending.

The good news now is that it is one of the best times in the last 40 years to secure a mortgage with interest rates at near historic lows. Homebuyers who can qualify for a conventional mortgage have a vast array of products from which to choose. Those who already have a mortgage will also find that now is a great time to refinance into a long term low interest mortgage.

Homebuyers should join with their REALTOR® and meet with a mortgage professional to obtain a pre-qualification for their mortgage. This will expedite the buying process and strengthen the buyer’s negotiating position. The procedure is simple and takes just a few minutes to complete. Decisions made by a quality lender are often provided in a matter of minutes. A reputable lender should also provide a “pre-qualification letter” to use for the home buying process.

Now is a great time for homebuyers to secure a mortgage.

Tony Knapp is a loan officer at Mortgage Network, Hilton Head Island’s largest and most respected mortgage lender. He is also a member of the John Robinson Team. For more information, Tony can be reached at 843-341-0111 or tknapp@mortgagenetwork.com.

Monday, January 21, 2008

What To Expect in a Real Estate Closing

Conducting a real estate closing is regarded as the practice of law by the South Carolina Supreme Court. As a result, all parties in a South Carolina real estate transaction must be represented by counsel. It is permissible for the parties to engage the same attorney in a dual representation capacity provided that each party agrees in writing and consents to the conflict of interest involved. However, this is not advisable in the purchase or sale of your home and you are encouraged to engage your own attorney.

Your closing attorney's task is to conduct the title examination and prepare all documents for settlement. If you are a purchaser and financing is involved in your transaction, your attorney will coordinate with your lender. Your law firm will also likely be able to assist you in obtaining title insurance. You will receive finalized documents for your execution either through the mail from your attorney or by personally meeting with your attorney. In some instances, you may also authorize your attorney to execute all documents on your behalf via a power-of-attorney. The documents presented to you at closing will include an itemized settlement statement which will fully address all financial aspects of the closing such as proration of taxes, assessments, etc. All funds in the transaction will be channeled through your law firm's escrow accounts.

As a purchaser of real estate, you will likely be asked by your attorney to provide applicable information. This will include the manner of holding title, anticipated insurance provider and your plans, if any, to finance your acquisition.

As the seller of real estate, you will need to provide the names of any lenders that hold a mortgage on your property.

The process will be guided by your attorney. You may initiate the process by identifying your attorney and asking your real estate agent to provide the sales contract to your attorney. You can anticipate that your attorney will contact you and specifically request relevant information and materials.

The local custom in South Carolina is for each party to meet with an attorney individually. Contrary what you may have experienced in other states, it is very likely that you will never meet the purchaser of the home you are selling or the seller of the home that you are acquiring.

There is value in selecting a law firm that has the resources to handle a number of your needs and is willing to stand behind its work. Although the vast majority of real estate transactions proceed smoothly to closing, it is helpful to have a firm that handles a variety of matters including litigation in the event that you have a difficulty arise. If you are moving to South Carolina, there is value in having a law firm that is able to handle any corporate and estate planning work that needs to be reviewed for compliance with South Carolina law.

If you have further questions or concerns relating to your real estate needs, attorney Bret Pruehs with McNair Law Firm on Hilton Head Island, SC will be glad to answer your personal questions. Bret is available at 843.785.2171 or at bpruehs@mcnair.net.

Saturday, January 19, 2008

Join my FREE Professional Network at LinkedIn

What is LinkedIn?

LinkedIn is an online network of more than 17 million experienced professionals from around the world, representing 150 industries.

When you join, you create a profile that summarizes your professional accomplishments. Your profile helps you find and be found by former colleagues, clients, and partners. You can add more connections by inviting trusted contacts to join LinkedIn and connect to you.

Your network consists of your connections, your connections’ connections, and the people they know, linking you to thousands of qualified professionals.

Through your network you can:


  • Find potential clients, service providers, subject experts, and partners who come recommended

  • Be found for business opportunities

  • Search for great jobs

  • Discover inside connections that can help you land jobs and close deals

  • Post and distribute job listings

  • Find high-quality passive candidates

  • Get introduced to other professionals through the people you know

LinkedIn is free to join. Click below to see my LinkedIn profile.

View John Robinson's profile on LinkedIn

Friday, January 18, 2008

Hilton Head Island Real Estate News



-- Market Activity

Island real estate activity followed the national trend downward in November and December after some positive signs of improvement in October. New re-sales on the Island were off 10% from the previous year for those two months, so we ended the year down 8% from 2006. It appears that it may take longer than most anticipated to work through this correction to supply and demand. We remain optimistic about the market here for several reasons:

· First, the migration of baby-boomers southward will continue and we’re nicely situated.

· Second, there is little panic among sellers, so prices haven’t dropped precipitously.

· Finally, there is no new land to develop, so what is built now is not competing with new products coming out of the ground.

It’s simply a question of when potential buyers decide the time is right for them to make a decision to make Hilton Head Island their 1st or 2nd home.

Two things are certain:

· There’s a great selection from which to choose, with sellers looking for offers.

· Money is available at attractive interest rates for creditworthy buyers.

-- New Residential Developments

Three new residential developments are in the works, both on and off the Island, which might have some appeal for you. I will give you as much info as is currently available.

The first will be familiar to those of you who are long-time visitors who might recall one of our all-time favorite restaurants, the Chart House, located in Palmetto Bay Marina on the water. The Chart House closed down about 7 years ago, only to be followed by a number of mediocre food operations, but the building was situated on an unbelievable piece of land, surrounded by Live Oaks and with a western view down Broad Creek that enjoys some of the best sunsets you’ll ever see.

Parking for the restaurant was always a problem and it was surrounded by mid-rise condos. Now an investor has taken an option on the property and intends to build up to twelve 3BR luxury condos providing owners with unbelievable location and views. While the timing of construction and pricing has yet to be determined, best early estimates are for a 2009 completion with prices around $1million apiece.

Let me know if you’d like to be kept informed on this new project.

The second new community is also located on the Island along Gum Tree Road and close to the Island public school campus, the Island Boys & Girls Club, and other newer developments such as Hanahan Place, Allenwood, and Fuller Point.

This new community, called Carolina Isles, will offer 80 homesites with 8 home models from which to choose. All homes will be constructed with hard coat stucco, wood floors, granite counters, and 2-car garages. Homesite/model package prices will range from mid $300k’s to high $500k’s. Square footage of models will range from 1500’ to 3000’.

Let me know if you’d like to be kept informed on this new project.

The third new community is a small Bluffton development offering lots set amidst small horse farms, ranging in size from .75 to 2.0 acre lots and priced from $150k to $275k. This unnamed community, part of Midway Farms, will have pond views and access to horse trails and boarding facilities, and have a minimum of restrictions to owner usage. The development is situated half way between Hilton Head Island and Savannah and will provide a very inviting “country” feel to its owners.

Let me know if you’d like to be kept informed on this new project.

-- Best Real Estate Opportunities

We remain convinced that oceanfront and near-ocean condos that generate rental income for their owners are the best possible solution for the buyer not ready to make a permanent move to the Island.

Rental income can make your ownership costs surprisingly affordable, while allowing you usage of the property during much of the year when not in demand by vacationers. If you can afford $2000 per month, you can own an oceanfront property on Hilton Head Island’s beaches. If your price range is in the $400k range, there are several off-beach villas that might fit the bill for you, and I know where they are located.

If a second home or permanent home is your preference, we have an excellent selection in all price ranges from one end of the Island to the other, and I’d be happy to do some leg work for you. Just let me know your needs.

Sunday, January 13, 2008

Lynes Home Inspections...

Lynes Home Inspections has been in operation in Beaufort County, South Carolina since 1996, an outgrowth of a highly successful residential construction business.

Inspections are conducted to the highest standards and practices of the South Carolina Association of Home Inspectors.

The home inspector is specially trained to examine your home from top to bottom. His job is to give you a professional analysis of your home’s general condition so that you can make informed decisions about buying, selling or performing general maintenance.

Through a thorough, systematic examination the home inspector evaluates aspects of a home that most people would never consider. By going into the physical recesses of the property, places most people avoid such as attics and crawl spaces, the home inspector often identifies problems a homeowner never knew existed.

With our exclusive QuickReport software your report is available the same day as our on-site inspection directly from our web site. A printed copy will be mailed the following business day.

No other home inspection service offers a faster, more accurate or more complete report that Lynes Home Inspections with our exclusive QuickReport Home Inspection System.

Need more information about Lynes? You can contact them at www.LynesInc.com or 843-785-4202.

Friday, January 11, 2008

WHY YOU SHOULD BUY HILTON HEAD ISLAND REAL ESTATE NOW

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 sometime 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 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 in April 2006 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?

These facts were researched and contributed by a group of Hilton Head Island realtors, who together have over 100 years of experience in real estate sales.

So how many more reasons do you need to buy NOW?

Sunday, June 17, 2007

WHY BUY NOW?

WHY BUY HILTON HEAD ISLAND REAL ESTATE NOW?
THIS IS A GREAT TIME TO BE A BUYER!


The imbalance of power that favored home sellers over buyers during housing’s 10-year boom has finally shifted. We don’t often have a buyer’s market like we have now. Every decade it happens for a year if we’re lucky. Then it’s a seller’s market for another nine years.

As painful as this cooling may be for sellers, it has opened the door for some buyers who’d been priced out of hot markets.

As a buyer, you now have plenty of choice, as well as the upper hand in negotiations. You also still have the benefit of low interest rates. If you’re tempted to upgrade yet worry that your home isn’t worth what it was six months ago, keep in mind that the home you want to buy is worth less too.

FACTORS FAVORING HILTON HEAD ISLAND AND THE LOWCOUNTRY REAL ESTATE MARKET

• The Sunbelt is growing. South Carolina’s population is predicted to grow 25% - 30% by 2030.
• Hilton Head Island and Bluffton, SC are drive markets and won’t be affected by fluctuations in air travel.
• Interest rates at a 40-year low.
• A lack of available land will drive prices up on existing properties on Hilton Head Island.
• Real estate on Hilton Head Island is still much less expensive than other similar coastal resorts.
• Land planning and design covenants put in place by the Town control growth and aesthetics.
• Hilton Head Island is a world-class destination with hospitals, good schools, arts & culture centers and other amenities.
• Hilton Head Island was recently named #6 on MSNBC’s website for Top-10 Family Friendly Beaches.

Tuesday, May 15, 2007

Home Insurance Rates on Coast May Fall

On May 9th, there was an article in The Island Packet that says "Rates on Coast May Fall". It was written by Seanna Adcox, and references legislation that received "key approval in the house" on May 8th.

The new Insurance Director, Scott Richardson, is formerly from Hilton Head Island. This article has not been posted yet online, but I will keep an eye out for the article link.

I will also be sure to keep you posted as more good news arrives regarding coastal home insurance issues...

Monday, May 14, 2007

SOUTH FOREST BEACH CURRENT MARKET CONDITIONS - HILTON HEAD ISLAND, SC

We here at Dunes Marketing Group continuously monitor statistics to keep our clients informed and ahead of the real estate trends. Below you will find up-to-date South Forest Beach villa real estate statistics as of today’s date.

I have chosen villas in the South Forest Beach area which include Tanglewood Villas, Courtside Villas, Surf Court Villas, Shorewood Villas, and Ocean One Villas. All of these villas are located either oceanside or within walking distance of the beach.

Currently on the market: 43
Under contract: 3
Closed sales since January 1, 2007: 6
.
As you can see, it certainly is a great time to purchase a villa in South Forest Beach!

To find the value of your own home with a free, over-the-net home evaluation, please visit my website at www.HiltonHeadExpert.com.

If you would like a list of homes for sale in the South Forest Beach area, more information about Hilton Head Island, or if you’d like to hear about hot new listings before other buyers do, then contact me at:

John Robinson, REALTOR®
Dunes Marketing Group
(cell) 843-422-3767
JRrealestateHHi@aol.com

Saturday, May 12, 2007

Get ready for the summer!!!

Jump Start Your Summer Tennis Program

It’s almost summer. School will be out for three months, which means parents will be looking for constructive ways to occupy their children. Spring is the perfect time to jump start a Munchkin Program, generating income for you and your club and bringing more beginning players into our game. Based on a very successful event we conceived and promoted, this article is structured with step-by-step instructions to stimulate interest in tennis and excite youngsters enough to want to sign up for summer lessons.

Ours, dubbed “The International Day of the Munchkin”, was created to introduce the game of tennis to children ages 6-9. It was a Game & Relay format with food, fun, music, balloons, and prizes…and to further encourage participation, the entire event was FREE to the kids!

Before you start, check into your club’s liability insurance. Your Munchkin Day might be considered just like any other tennis event, but it is best to check your policy’s coverage to be sure. Now, choose a date, making sure not to coincide with any holiday where local families may travel away from your facility. Saturday is recommended so then use Sunday for back-up in case you need a rain date. We were lucky to have access to covered courts, so we planned a rain-or-shine event.

Now let’s get down to work. You have to reach these kids to let them know about your big day that has been especially designed for them. Perhaps more importantly, you have to reach their parents. Create a flyer that lays out the details. Remember to include the basics: who, what, where, when, and why. Invite the parents to stay if they wish. Let the kids know how to dress and to wear play shoes. Be informative, without too much copy. Use a fun, but legible, typeface and kid-friendly graphics. One page, one color ink on white or colored paper is the least expensive and will accomplish your goal.

Contact the schools first. Call the administration office, explain your program and request their approval to distribute your flyers within the school system, especially because your event if FREE to all. Be thoughtful of their policies as this could be your best resource. Two weeks before your event – no sooner, no later – have the children take the flyers home to their parents. Also approach churches in your area that have children’s programs. Post your flyers everyplace that will let you. We found that with a little networking, word of mouth developed a life of its own.

More on the advertising front, spare yourself the expense of actually paying to place ads in local papers. Instead send well-written press releases to the editors of both the daily sports and weekly kid’s section of your local papers. We sent three and all three received space. When writing your release, keep it simple and basic, with the who, what, where, when and why included as well as contact information, in case they want to expand upon it for an article. Invite the press to come to the event and encourage them to bring a photographer, further promoting coverage. We were even lucky enough to know a local radio personality who scheduled an interview/chat generating free airtime prior to our big day.

Okay, you’ve figured out how to reach your target audience, the next step to consider is getting free stuff, otherwise known as sponsorships. First, list your needs based on the day’s planned activities. Are you planning to serve lunch? Then you’ll need pizzas, subs, and cookies for dessert or other kid-friendly foods. Drinks for the day are a must. Will you be offering prizes? Then you’ll need to solicit for them. How about decorations, party favors or giveaways? Plan your event and then determine the best local companies to approach for sponsorships.

So, how do you approach a business for freebies? It is certainly better to go to the store or venue personally rather than call on the phone. Of course, use the phone in those cases where a personal visit is not feasible. Ask for the owner or manager. Introduce yourself; explain who you are, where you work, what you do and what you are planning for the event. Be upbeat and very positive about your program. Ask them if they will be your “pizza sponsor” or your “cookie sponsor” or your “balloon sponsor”. Tell them what they will receive in return. Barter is a two-way street, you know. Tell them you would like to hang a banner with their logo, if they have one. Offer to put their store’s logo on your flyers or any other promotional material you may have. We were able to get sponsorships from a local grocery store for balloons, a bakery for cookies, a toy store for prizes, Subway and Papa Johns for lunch. The options are as varied as your imagination and the time you are willing to put into it.

Next on your to-do list is to find volunteers – lots of volunteers. When a mom or dad calls to register their child, ask them if they would volunteer as a “Team Parent”. Ask your tennis co-workers. Ask friends. Network, network, network. You will need help and lots of it, so sell your passion about the program as you solicit volunteers. Prior to the event, meet with your volunteers. Review the day’s schedule and assign duties. Make sure everyone understands his or her role.

Prepare for more children than you have registered. There may be overflow. We accepted reservations over the phone until we reached our target of 144 kids. Once 144 registered, we created a waiting list. Regardless of requiring registration, over 150 kids showed up for the four-hour event. How do you deal with the overflow? Be prepared to add more children to each relay or to tack on another play station. Try to remedy this potential for a problem up front by making it clear in your flyers and press releases that spots are limited. Emphasize the need for reservations. Keep a file of the registration information, in case you need to reach a parent or for future solicitations.

Schedule the event to the minute and do not deviate from the schedule. If you do, your group will deteriorate into chaos. When planning your day, remember these are very young children with limited attention spans. Keep each relay brief and move the kids along to the next station quickly.

Our International Day of the Munchkin was held from 10:30am to 1:00pm. Check-in began at 10:00am. Each child was given a color-coded nametag to wear which identified them by age group. To occupy those who had already checked-in while they waited for the 10:30am start, we played a video of The Wizard of Oz. Promptly at 10:30am, we led the group into our covered courts, which were colorfully decorated, with all of the relay stations ready for action. Helium balloons, crepe paper and windsocks provided visual stimulation. Energetic music filled the area, where the kids were greeted by two high-spirited dance aerobics instructors who got them warmed up with fun jumps and twists, all to the electrifying beat. The children were then grouped by their color-coded nametags. The plan was for 12 groups of 12, but we made room for the overflow. Each of the groups was assigned a Team Parent. The Team Parent’s role was to ensure that each child in their group did not stray and to make sure that the kids rotated to the next station together.

Our three courts were partitioned into 12 sections. Divided properly, with distinct partitions, 3 courts will provide ample space for 12 stations. There was actually room to spare in case we had to add another station. Our stations included such activities as ball balance relay, obstacle course, throw and catch with a fishing net, groundstroke to target and even a face painting area. In one we had a pyramid of tennis ball cans that one child had to protect with their racquet as another tried to roll the ball and knock it down. We had a mini ball machine and a foam tennis ball war. Every 8 minutes, we blew a whistle indicating it was time for the Team Parent to take his or her group to the next station. Use your imagination to develop your stations. Above all, have fun with it!

After the on-court activities, we escorted the kids outside to a single court for photos. We took several shots of the kids racing to the net waving their racquets and hats. Another shot had them leaping up trying to catch a bunch of balls we had thrown into the air. Overall, the group pictures displayed energy, excitement and fun.

It was time for lunch. While we were having our photo shoot, some of our volunteers were setting up the lunch line. We had 30 pizzas from Papa Johns and six-foot subs courtesy of Subway, along with other goodies donated by various local stores. Even Rita’s Ice set up a table and gave away Italian Ice samples. After lunch, the kids received a variety of prizes, games, and a certificate. The colorful certificate proclaimed “TENNIS IS FUN!” and displayed the child’s name. Prizes included small toys, posters, tennis racquets, T-shirts, caps, kites, and more. The kids seemed to love every minute of it.

Information about available Munchkin Tennis programs was given to all the parents at the end of the event. A Munchkin program at a nominal rate seemed very attractive to the parents. Remember, enticing newcomers to the game is your ultimate goal.

HAVE FUN! Oh...and by the way...if you're interested in Hilton Head Island real estate, please contact me!

Friday, May 11, 2007

1031 Tax Deferred Exchange Information -- Interesting Stuff!

What is a 1031 Tax-Deferred Exchange? In a nutshell, it’s a way for owners of investment real estate to sell their property and buy other like kind property without paying the Capital Gains tax. These transactions are known as deferred exchanges, or 1031 exchanges, and allow the investor to continue their investment in another property without losing investment equity to taxes.

CONSIDER THE FOLLOWING:

● You may have some non-income producing real estate investments, such as raw land, which are not giving you any cash flow. You could exchange this for property that is income producing, such as a duplex or a rental home. Not only could you start realizing a cash flow, but you can also get income tax deductions such as depreciation, which you did not have with your raw land.
● Often people find that they have been holding properties long after their appreciation has topped out. You can start rebuilding your equity by disposing of those properties and acquiring new ones.
● The area your rental properties are located in has become economically depressed or is deteriorating. Why not trade those properties for others in a better location or neighborhood?
● If you have rental properties with problem tenants or they are in need of expensive maintenance or repairs, sell the properties and acquire other rentals with fewer problems. This may also give you an increase in appreciation.
● Many people think about selling and reinvesting into more income or investment property. One would be foolish not to do a tax-deferred exchange! If you sell and reinvest, you will pay income taxes on the realized gain. However, if you call it an exchange, you will pay no taxes. This means that more money is available as leverage for acquiring your next properties. Look at it as a free loan from the government!
● With proper estate planning you can keep exchanging properties throughout your lifetime. Neither you nor your heirs will ever pay income taxes on the gains.
● By doing a tax-deferred exchange, you can conserve your equity by not having to pay taxes on your net profits.

Step One: Sale of the Relinquished PropertyBefore the sale of the first property the Exchanger must complete the proper 1031 Exchange documentation. At closing, the proceeds are delivered directly to a Qualified Intermediary.

Step Two: Identification of the Replacement PropertyThe Exchanger must identify the property to be purchased (generally called the "Replacement Property") within 45 days following the sale of the Relinquished Property. The taxpayer may generally identify three properties as a potential Replacement Property, or more under alternate rules of identification.

Step Three: Purchase of the Replacement PropertyThe Exchanger must obtain the Replacement Property within 180 days following the sale of the Relinquished Property, which must be identified property, subject to the rules listed above. At closing, the proceeds are paid directly by the Qualified Intermediary, and the Exchanger receives the Deed to the Replacement Property.

Replacement Properties must be identified within 45 days of the sale of the Relinquished Property and must be purchased within 180 days of the sale of the Relinquished Property.

If you are considering selling an investment property, I can help you explore your real estate investment options here on Hilton Head Island or anywhere in the country. Contact me today for more information.

Tuesday, May 8, 2007

Do You Know What Section 8 Housing Vouchers Are?

MAKING THE RENT

Section 8 Housing Vouchers offer hope for low-income families and give landlords the opportunity to help

Hidden behind the bright promise of southern Beaufort County’s numerous gated communities and manicured golf courses, many families are struggling to make ends meet in a shrinking affordable-housing market. Without government housing vouchers, single working mothers, including 29 year old Samantha Meyer of Bluffton, would be in deep trouble.

Home for Meyer and her daughters – ages 10, 6, and 3 – is a three bedroom, two bathroom apartment at Bluffton House, a modern taupe two-story apartment complex complete with tennis courts and a large swimming pool. Residents of 30 apartments in the 280-unit complex off Simmonsville Road currently participate in the government rental voucher subsidy program known as Section 8.

The housing vouchers subsidize low-income families so that they can afford to rent decent and safe housing in the private market. Only a small percentage of eligible applicants receive the housing vouchers; most are put on a waiting list when they apply.

Recipients may select any housing with rent at or below the “fair market rate” set by the US Department of Housing and Urban Development, if the owner agrees to accept the voucher as payment.

Meyer, who has worked as a nail technician at the Breathe Spa on Daufuskie Island for four years, says the rent subsidy helps her save for a down payment to eventually purchase a home.

Families who receive the vouchers must contribute 30% of their income to pay rent. The voucher is used to pay the rest. The Beaufort Housing Authority, located on Duke Street in Beaufort, negotiates with participating landlords to set the total rent based on the landlord’s asking rent, total household family size, family income and other factors.

In Beaufort County, Section 8 has proven popular with elected officials, landlords and financial institutions because it steers the government away from public housing developments and toward the private marketplace.

“We currently assist families at a number of apartment complexes in southern Beaufort County, among them are Bluffton House Apartments, 90 Dillon Apartments, and Vista View Apartments,” said Ben Johnson, Section 8 administrator at the Beaufort Housing Authority.

His office provides an average of $415 of monthly rental assistance per household, and 577 households countywide currently participate in the program, Johnson said. 11% of Beaufort County’s residents live below the poverty level, according to statistics provided by the US Census Bureau.

The Section 8 program helps more than two million low-income families nationwide.

Johnson said the waiting period after an applicant is approved for the Section 8 program varies but priority is given to elderly, disabled and working applicants.

Mica Weathers, 24, is another single working mother with two children, ages 2 and 1. She lives in a two bedroom and two bathroom apartment at Bluffton House. Weathers’ rent is $588 a month, and her portion is $170 with the remainder met by the Section 8 housing voucher. Weathers’ job at Starbucks pays $8.50 per hour, making the subsidy derived from the voucher essential.

Income qualifications are based on a median income figure of $63,000 for Beaufort County calculated by the federal government. To participate in the Section 8 program, a one-wage earner household’s annual income can be no more than $19,845, and a two-wage earner family’s maximum income is $30,240 per year.

Guidelines for the program disqualify applicants who have committed serious crimes, those whose total household income exceeds set limits (based on family size), and people who have an outstanding balance with the Beaufort Housing Authority. Some people who participate in the Section 8 housing program also receive Medicaid and food stamps.

A recent market survey by GVA Marquette Advisors confirms that there is strong demand for apartment units with monthly rents below $700, particularly two and three bedroom units, for households earning approximately $30,000 per year or less. According to the National Low Income Housing Coalition, more than the minimum wage is required to afford a one or two bedroom apartment at fair market rent.

Michael Maloney, principal of Quinnco Co. and owner of Bluffton House, the largest Section 42 housing project in South Carolina, used a tax credit development incentive to construct the apartment complex. Now, instead of offering incentives to developers who build affordable housing, the federal government has shifted in the last few years to Section 8, which is a more tenant-based program.

Maloney also donated land in Bluffton to the non-profit housing organization Habitat for Humanity, where the Brendan Woods neighborhood now stands. He said the Section 8 program is user friendly for landlords and tenants.

“It doesn’t seem that everything someone does should be guided by the lure of the highest potential profit margin, when you can endeavor to meet some important common needs profitably, albeit at a lesser level,” he said.

Officials at the Beaufort Housing Authority said 250 landlords in the county are participating in the Section 8 voucher program.

Applications for the Section 8 Program will be accepted at 1205-B Duke Street in Beaufort on November 17, 2006 from 9am – 3pm. Applicants must provide all of the following information:

Original birth certificates
Original Social Security cards
Proof of household income
Photo ID for all over 18
Proof of marital status

For more information regarding the Section 8 Program and the Beaufort Housing Authority, call 843-525-7075.

If you or anyone you know may be interested in purchasing a unit for inclusion in the Section 8 program, please let me know.