I am currently vacationing in Cape Cod visiting with the folks and as always, I find myself looking at property and talking to anyone that will listen to me about real estate. After having lunch today with two local realtors, one of which with whom I grew up with, I have come to the same conclusion:
We have not seen the bottom of this market and the deals are selling fast! I constantly keep taps on the Hilton Head-Bluffton area and in the past three (3) days went eight (28) homes, villas, and lots went under contract. I took a deeper look into those twenty eight (28) properties and more than half of those were foreclosures or short sales. Not only were these STEALS, but the average days on market was less than twenty five (25) days, which tells me that the deals are selling and selling fast! What does this mean exactly? Well, if you are a buyer, sure you may have time to find your piece of paradise, but if you see it, don't wait!
I have personally been involved in 4 offers thus far in 2009 in the Hilton Head Real Estate market where my buyer client was too late on pulling the trigger and missed out on their 1st choice. Reality is that although you have plenty of choices in the market place, when it comes down to it, there really are only a few GREAT DEALS and they seem to move fast! I see it time and time again, so my advice to any buyer out there is that you can't call the bottom of the market, but if you see your ideal place, don't hesitate, you may regret it down the road!
The Carolina Realty Group