Hilton Head Real Estate Blog

If you enjoyed this post, make sure you subscribe to my RSS feed!

A regional farmer’s market has opened in Jasper County, just south of Ridgeland, SC.  The market will offer both a wholesale auction for area grocers, restaurants and churches, as well as a retail market for the public.  The organizers of the market cited a growing desire for fresh, high quality and local produce from both the commercial and residential sectors.  Although Bluffton also offers a local farmer’s market near the Oyster Company, just off of Bridge St., this will be the largest farmer’s market of its kind in the Southern Lowcountry.

For farmers from Beaufort, Colleton, Hampton and Jasper Counties, the new farmer’s market will offer a convenient location to sell there produce at both wholesale and retail prices.  In addition to the produce sold at the retail market, there will also be space for crafts and prepared foods. 

The location of the market is an existing, county-owned structure which has been abandoned for more than 20 years.  The structure has be revitalized with a new Lowcountry-style tin roof, bright new paint and the addition of an industrial kitchen.  The site may also be used for future BBQ cook-offs and Chamber of Commerce functions. 

The hours of the Farmer’s Market:

Wholesale auction market – 4 p.m. Mondays, 10 a.m. Thursdays

Retail (public) market – 2 to 6 p.m. Fridays

Location – U.S. 17, a half mile south of Ridgeland

Additional facts can be found by visiting this Jasper County web site.  Contact information and information about registering for the wholesale auction is available at the web site.    

If you enjoyed this post, make sure you subscribe to my RSS feed!

If you enjoyed this post, make sure you subscribe to my RSS feed!

If you enjoyed this post, make sure you subscribe to my RSS feed!

Revenue Procedure 2008-16, which goes into effect March 10, 2008, officially allows limited personal use of an investment property and will not prevent a dwelling unit from qualifying as property held for trade or business or investment use for purposes of the 1031 tax-free-exchange rules.

Strict personal-use rules of the investment property as a “second home” still apply. The period of the taxpayer’s personal use of the dwelling unit cannot exceed the greater of 14 days or 10 percent of the number of days during the 12-month period that the dwelling unit is rented at a fair market value.  Allowing the owner to utilize the unit for a vacation retreat and still “swap” the equity in the event of a sale and second purchase of like property. 

Will this help to stimulate the bleak Villa/Condo market in the Hilton Head Island area?  Maybe just a little.  But, none the less, this is valuable information for property investors who seek to utilize their investment(s) for limited vacation use. 

As always, I would suggest seeking the advice of a trusted tax advisor to answer any questions regarding a 1031 tax-free-exchange.

If you enjoyed this post, make sure you subscribe to my RSS feed!

If you enjoyed this post, make sure you subscribe to my RSS feed!

2007 may well be remembered as one of the worst years in real estate for the Bluffton and HHI area, statistically, but statistics are rarely the full story.  A great many of the buyers who purchased a home may one day look back on this year as the year they found a great bargain.

The Market Conditions Page of this site offers a brief look at the numbers and the real estate trends of 2007, in comparison to 2006.  Most of the information may not be much of a shock to home seekers who have been keeping up with the continued media portrayal of doom and gloom.  But one surprising fact about the HHI and Bluffton real estate market shows that the closing prices in a number of areas are still increasing.  While this does not suggest home prices, in general, are moving higher but rather that buyers are finding that buying larger or lavishly upgraded homes offer a better value.  Educated home buyers are taking advantage of the growing inventory and their agents are negotiating great deals.

I’m excited to see just how the HHi and Bluffton market changes in 2008, if at all.  There is enough inventory in the Southern Beaufort County area to last through to mid 2009, when I would expect the HHI & Bluffton market to level.  This means 2008 may offer even better deals than 2007.  Oh, time will tell.   

If you enjoyed this post, make sure you subscribe to my RSS feed!

Are you tired of paying for all of those 411 calls? Google has launched a new 411 service that is free, and they take it to the next step by connecting you for FREE . No more of this,” you can be connected for an additional 35 cents”. It even gets better! If your phone is internet capable, they'll send you a map of the listing.

All you have to do is call 1-800-466-4411, and an automated service will answer the phone. After giving them the name of the business you're looking for, you will be asked if you'd like to be connected, or if you'd like additional details. If you ask for additional details, you will be given the name of the business, address, and phone number.

I can't tell you how much time this is going to save for me. As a real estate professional, it seems as if I live on the phone. The convenience factor of this new automated 411 service is great. Just last week I needed to round up some rental projections for a client. I had to pull off of the road, get out of the car, find the phonebook, and then waste another 10 minutes thumbing through all of the yellowpages. The 1-800 number is now programmed into my cell phone, and it works great!

Watch this video to see how this new feature works:

If you enjoyed this post, make sure you subscribe to my RSS feed!

If you enjoyed this post, make sure you subscribe to my RSS feed!

According to University of South Carolina economists, a slowing economy in the rest of the country and a weaker dollar might help tourism on Hilton Head.

“I'm thinking Hilton Head Island could actually be one of the beneficiaries of the tourism growth because of the declining dollar. A lot more people will be taking vacations closer to home. Hilton Head Island, with its reliance on tourism, might not see its economy slow as much, if at all.” Doug Woodward and Paulo Guimarares presented this forecast to research economists this week in Columbia, South Carolina.

In rebuttal to the gloom and doom of national news media reports, buying a home isn't stupid, says the National Association of Realtors. The press has been relentless with negative news, but 2007 will be the 5th best housing year on record.

Homeownership is not a quick in-and-out purchase like stocks. Wealth is built over the long term, which is one reason why homebuying is heavily subsidized by tax savings and generous loan programs that enable people to get into homes without large down payments.

Stocks and houses aren't the same. Over ten years, a $10,000 investment in the stock market at a normal 10 percent market rate of return would yield nearly $24,000. The same investment as a down payment on a $200,000 home at a normal appreciation rate of 5 percent would return nearly 5 times the stock market return, or over $110,000.

We are able to get 5.875% on a 30 year fixed conforming loan with no points at this moment. The rates are great and the prices are lower than they have been in years.

If you enjoyed this post, make sure you subscribe to my RSS feed!