Top 3 Beaufort SC Real Estate Investment Opportunities | Finance News – EgroupX

Interesting story about real estate investment in the Beaufort Area. Worth the time it takes to read.

Top 3 Beaufort SC Real Estate Investment Opportunities | Finance News – EgroupX

Sales Trending Upward in 2010

Last week for the first time in quite a while, I didn’t cringe when I looked at our monthly numbers. In fact when I finished studying them I was down-right happy. I am by no means telling you that this challenging market is behind us but I am telling you that we are starting to crawl out of the darkness.

Our “closed sales” and our “pending home sales” are more than twice what they were year to date in ’09, additionally, our walk in traffic, phone ins and web site hits are also twice what they were YTD. Island Realty is still the leader east of Cowan Creek with both listing volume and closed sales and we are the dominant force on Fripp Island (43% market share), Harbor Island (30% market share) and Coosaw Point (58% market share).

Last year we did 70% of our business in the 2^nd half of 2009 and I was hopeful that the trend would continue and it has. The market continues to be demanding however and depending on what you read either the recession is behind us or soon to be over. The truth is no one can tell you for sure the exact moment that we are out of this until we are well past it. The statistics that I cited above give me great hope that we are either out from under the black cloud or soon to be and when that happens, I will be supremely happy, not happier than our buyers and sellers, but supremely happy nonetheless.

Locally, both inventory and prices are starting to stabilize. Although lending is still tight, those with good credit can still get loans. Additionally those who are able to obtain financing are snapping up property at bargain prices which is a win / win. The buyers get almost instant equity and we as neighbors and home owners get a reduction in inventory supply, which helps prices stabilize, which is critical to returning to a normal market. Indeed a win / win.

So what does my crystal ball say? Quite frankly the volatility of the market over the last two years has shattered my crystal ball. The last two years have been the toughest of my career and I was licensed in 1995. The market did strange and weird things. Banks did even stranger things on short sales and foreclosures, the stock market did strange things as well.

Truly though, I believe there is real evidence of improving conditions in many respects. Employment is improving, retail spending is improving and auto sales are up (I personally participated in boosting the auto sales). Even the most pessimistic of forecasters noted that jobs and housing would need to turn before we should feel like we are back on track. I can tell you that we at Island Realty are doing our part to keep the housing component on track, no small task, but we are doing our part. Another win / win.

New Tool For Challenging Market

Beaufort, SC – March 4, 2010 — Theresa Cooper, Jennifer Helms & Cindy Byers with Island Realty of the Lowcountry have earned the nationally recognized Short Sales and Foreclosure Resource certification. The National Association of REALTORS^® offers the SFR certification to REALTORS^® who want to help both buyers and sellers navigate these complicated transactions, as demand for professional expertise with distressed sales grows.

According to a recent NAR survey, nearly one-third of all existing homes sold recently were either short sales or foreclosures. For many real estate professionals, short sales and foreclosures are the new “traditional” transaction. REALTORS^® who have earned the SFR certification know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities.

“As leading advocates for homeownership, REALTORS^® believe that any family that loses its home to foreclosure is one family too many, but unfortunately, there are situations in which people just cannot afford to keep their homes, and a foreclosure or a short sale results,” said 2009 NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “Foreclosures and short sales can offer opportunities for home buyers and benefit the larger community, as well, but it’s extremely important to have the help of a real estate professional like a REALTOR^® who has earned the SFR certification for these kinds of purchases.”

The certification program includes training on how to qualify sellers for short sales, negotiate with lenders, protect buyers, and limit risk, and provides resources to help REALTORS^® stay current on national and state-specific information as the market for these distressed properties evolves. To earn the SFR certification, REALTORS^Ò are required to take one core course and three Webinars.

We're on YouTube

We're on YouTube. In today's world everyone wants to see things immediately and I get that, I'm that way too. With that said, our listings are appearing on YouTube. To take a look at what we've got, just click on the link below.

http://www.youtube.com/view_play_list?p=F957FE6ACC0F2000

Posting videos is just one more thing that we do for our clients.

Real Estate on the Sea Islands in The New Year

Welcome to 2009. Where to start, where to start? In about 10 days we will have a new president. My hope is that the new administration can help pull the country out of the challenging real estate market, get the economy under control and most importantly get things in Iraq and Afghanistan under control as well. Somehow they all seem interconnected to me and helping one of those things will ultimately help the other two.

From my point of view, our year is off to a good start. While we are only 13 days into the New Year, Island Realty has already put 7 properties under contract for a total value of $2,765,900 all due to close within the next 45 days. Additionally Island Realty boasts 48 % of all the active listings on Fripp and 36% of all the active listings on Harbor. Further I/R claims 50% of the new contracts on Fripp and 100% of the new contracts on Harbor.

Dataw remains a challenge to us but we are committed to penetrating that market in '09. With a combination of newsletters, e-blasts, community participation and plain old fashioned hard work, by this time next year our Dataw statistics will be just as impressive as our Fripp and Harbor statistics. Stay tuned.

Unusual Weather

Good Afternoon:

As I write, the temperature on Harbor Island is 64 F. This is a bit unusual for the lowcountry at this time of year. The good news the temperature is supposed to be 77 F by Wednesday. So if you're local, it seems like a good time to get in a few last rounds of golf. If you aren't here, well I wish you were so you could share this delightful time with us.

Cindy