...hasn't seen the recent ocean front activity on Hilton Head Island! In the last 30 days there have been 6 Hilton Head oceanfront homes sell for a total of just under $30 million. The sales have occurred in Sea Pines Plantation, Palmetto Dunes Plantation and Port Royal Plantation.
These are signs of encouragement during a time of year that is relatively dormant compared to the spring and fall months. Pricing seems to be the single handed most important motivating factor for buyers today. Everyone is on a budget and watching their every penny. Condition and location have taken a back seat to the "bottom line". In the past, emotion played a big role in a buyer’s decision and over spending (or spending more than what was budgeted) was common. It's been awhile since I've seen folks "falling in love" with a property. I now see them eliminating homes one by one based on price. On the other hand, this brings up a very important issue for today's seller when pricing their home for sale. The days of putting your home on the market at an inflated price and hoping someone will come along and fall in love with it are gone...for now anyway. A seller must price their home to be the next to sell. If there hasn't been a showing in 30 days, there's a problem. Lack of marketing and list price seem to be that problem in many cases. So, whoever said the market was soft, may have been a seller with poor representation. As a buyer, the market is phenomenal! You've got your pick of the litter; you're in the driver's seat and your options are plentiful. So get out there and grab your slice of the pie. You're only looking for "one" property and the best deals are going quickly!
