Sunny Hilton Head, South Carolina

There are many qualities that make this an ideal first or second home. Here are 6 good reasons to consider this home.

First, the lagoon view is exceptional.  Second, this is a home that has seem minimal use--having been lived in for three short vacations by the owners. The yard, and the home have been well maintained and is move-in ready.

Third, it is situated on a quiet street--it ends in a cul-de-sac. No through traffic.

Fourth, it is located in a very friendly neighborhood within Sun City. (Sun City is comprised of neighborhoods and this one is called Oak Woods.) I live in this neighborhood, so your're getting the straight scoop.

Fifth it is close to all amenities--the hidden cypress fitness center and golf course are not but five minutes or less from the home. If there are questions you have about this property or any property here, I can help.

Sixth, it is an exceptional value: nearly new, lagoon view, and it's affordable. 

You'll find more information at this property's web site www.47Tupelo.com

Of contact me for more information at 843-368-9146

My Cutting-Edge Strategy: Bare Bones Staging

I'd like to thank all of those who took the time to share their thoughts with respect to the "stage or not to stage" post. Some of the comments were quite insightful and very helpful. Others were a bit more--how shall we say--

--the word "caustic" comes to mind. One suggested that I should know better, since I am also a certified homestager and the harsh comments weren't too harsh. (Hang in up john!)

To all who commented--I do respect you, your professionalism and your opinions.  And I hope you have a sense of humor, too.

Now, I'd like to give you something to think about.

Some feel very strongly about their position: The Always Stage Position.

This is Linear thinking.  What do I mean, If I am a foot surgeon, I want to operate--If I am a home stager I want to stage. Linear thinking doesn't always solve problems--especially if my problem is a hanging toenail but the surgeon insists on removing the toe.

What if your client said: "Well you can stage it if you want to, but I am not paying for it."  OR, "I don't want to stage it--sell it just the way it is, that's it!" 

I have a dosier of good retorts from you, don't I? But would the client buy your answers in this case?

Only a couple of you felt that it would be OK to "run bare bones." The consensus is that the home should be staged and that this will help to sell it faster

-- to which I must say: In the ideal world this may be true. No question, staging would help.  It is packaging.

BUT--we're talking about  $169000 town-home in a highly competitive market--with lots of deals for home-buyers. Is it realistic to think that a first-time home buyer is going to pay MORE?--when, buyers are scraping together all the money they can to make the down-payment? "
"ALWAYS" thinking is Linear Thinking--It's "One way or the highway, thinking"--it believes the answer is always YES.

Reality says "NO."

If there is a choice between a comparable home which is not staged and my listing which is staged and and the comparable home is priced below mine--PRICE, FINANCING AND TERMS trumps everything-- including whether or not it's been staged. I lose. The other realtor wins.

Therefore, You can inspect my home--every nook and crany of it and see--this is brand-spanking new--it is in a great neighborhood--also a BIG plus--it is also spacious--with one of the best layouts.

that's why I also did a neighborhood tour:

The comments about the quality of the virtual tour, I agree, could be better.

There is a comment by one person that says people have a hard time visualizing what goes where, if the home is not staged. My response is that this is a $169,000 town-home--not a mansion. The kitchen is the kitchen. The dining area is the dining area--not too hard to figure out where the dining room table goes.

Were this a $1.6 Million dollar home staging is mandatory and could mean thousands of dollars--no question.

A couple of non-linear WHAT IF's:

What if instead of staging the home we had renderings of the interior furnished in different ways. And with these renderings, there were a furnishing gift certificates ranging from $500 for 60 day closing to $1500 for those who could close in 30 days and no contingencies?

What if, instead of  staging the whole home and leaving it staged, we "photo staged" vignettes for each room, (with the new wide angle camera I'm gonna get) just for the virtual tour?
I am glad I asked the question and thanks, again for your comments.

Now, I am off to the store to buy a new camera--with a WIDE ANGLE lens--which my wife has refused to let me do (I just got a new la top) --but, I'll tell her why I need to do this, if she can understand me through the constant sobbing...

BeBlessed Y'all

PS The cartoon is not copyrighted and is from BZ Toons--unfortunately, I couldn't find a cartoon of a beat up, black and blue real estate agent.

 Levitt and Son, developers of The Tradition in Hardeeville, filed Chapter 11 on  Friday of last week.

"Abraham Levitt started Levitt and Sons as a luxury home builder in 1929. But the builder is best known for creating Levittown, which was developed for returning soldiers from World War II. The first Levittown home was sold in 1949 in New York's Long Island. Another Levittown opened five years later in Pennsylvania." (From Builder Online.)

The Tradition development began early in 2007. It was to be the first master-planned community of its kind in the regionm, encmpoassing 5,300 acres, and plans include more than 9,500 residences, a golf course, retail and commercial space. Land construction, including golf course development, is currently underway; home construction by early 2007.

Levitt deosn't look like they have the resources to make a come-back, but who knows. It's hard to say what will happen to those buyers who have constrution underway.

This information is posted on levitts web site:

"We remain mindful of Levitt and Sons' customers whose homes have not yet been completed. Through the Chapter 11 process, we will seek a mechanism that will facilitate the completion of some unfinished homes. Likewise, we will seek a resolution that will allow closings to take place for previously completed homes and spec homes. "

Existing customers are welcome to call the customer hotline at 877-538-4889.

Existing vendors are welcome to call 888-538-4893.

Additional information is available at the following link:

Chapter 11 Information

I am constantly amazed at the resilience of some segments in this current market.

Yesterday, I visited a new planned unit development: Hilton Head Lakes in Hardeeville, SC. I wanted to get educated on what looks like an up and coming, upscale gated community in an unlikely place: Hardeeville.

You may ask, where the heck is Hardeeville? Well, it's 'about 26 miles west of Hilton Head Island. Hardeeville is also the home of the Tradition, another planned unit (Levitt) development  off of route 278 which will be comprised of 9700 homes in years to come. Hardeeville, a rather rural looking area will have about 150000 homes by the year 2026

The Hilton Head Lakes P.U.D. is also off route 278 and first phase build out will be about 900 homes. This is a joint venture and one of the partners is Malphrus--a well know name in this area.  

According to Rush Lowther, Sales Executive, their grand opening this past week produced 62 lot sales! They are offering buyers "pre-development incentives"--i.e. there will be about an 18 month wait for city sewer and water, so lot prices are at their lowest now--a buying opportunity. As services are hooked up, prices will increase. There are financing options that allow buyers to hold their lots while they sell their existing homes.

Homes can be built by one's own builder, with minimum home requirement of 1800 square feet. Amenities will include fitness center, walking trails galore, and a commercial center which will provide include local shopping opportunities. There is also space reserved for a School.

If you're a buyer, just remember, it makes a lot of economic sense to have a buyer's agent represent your interest in any transaction. Our fess are paid by the seller. When you work directly with a developer or builders agent, they represent both sides of the transaction. This is not to your advantage. Plus, there are additional services we offer that can save buyer's time and money.

Yesterday, I received three responses that disagreed with the amount of down-payment I suggested (20%) for first time home-buyers. The gist of the disagreement was: "There aren't many first time home buyers who have that much to put down..." I welcome and respect the opinions and comments I received. Thanks, for taking the time.

And here's bit of a rebuttal.

With the recent mortgage debacle, not yet behind us, home buyers who have to borrow have fewer choices, The FEDS are putting up more of the cash than private lenders, who saw investors flee in droves from mortgage-backed securities to other, less risky investment vehicles.

Now, I am no prophet, but I do believe it's going to take awhile for all of this to settle down. I am all for folks owning and and STAYING IN their own homes--but the reality is qualifying requirements for borrowers are becoming what you'd expect--more stringent.

So, all I am saying is the more one has to put down, the better. I am also saying, for too long, things have been too easy. (Home ownership is not a "right." Lenders and consumers have not been prudent. Greed, and comsumption, fueled by consumer debt, have ruled.)

I will admit that maybe 10% down is in the "twilight zone" and a bit optimistic and seemingly impossible for people to save for a down-payment.

But is it?

In one of my comments yesterday, I related the story of a buyer client I was privileged to serve last year: In one weekend, she picked a home, and we closed in less than 30 days. She paid CASH--$150,000 in cash. She and her husband  are in their 50's; this was their FIRST HOME. She has a cleaning business. She and her husband SAVED that money over the years to, one day buy the home of their dreams.

They OWN their home. No one will ever be able to take it away!  And, it will pass down to their daughter when they are gone.  Some might say this is old fashioned, depression era idealism--for me, it's a breathe of fresh air.

I have such respect for these hard working, principled people who have a backbone and the discipline to do the right things, in the right ways, for the right reasons.

If you happen to have a copy-of today's  Wall Street Journal--grab a  cup of coffee...we'll all take a stiff whiff--and please see the front page story--"Mortgage Crisis Extends its Reach."

Much is made about the American dream--home ownership is seen by many as almost a "right". We're in the current mortgage mess because people have failed to act responsibly:

1. It's not the best time to buy, if you don't have cash to put down--at least 20%
2. It's not the best time to buy if you don't have regular income that you can prove...home buyers who lie about how much they make, even on a stated income basis could face serious consequences, should one have agreed to allow tax returns be  to be reviewed by the lender.
3. Its' not the best time to buy, if a first time home buyer is not ready for the responsibilities of home ownership--making payments on time, being a good neighbor, etc.
4. Its' not the best time to buy, If you don't want to be bothered with upkeep-- rent in a place where they do that for you--maybe a townhouse or condo is better
5. It's not the best time to buy, If your credit is not good: rent and work on cleaning up the credit mess--even if, there is some loan program you could qualify for--
6. It's not the best time to buy, if rental rates in your area are low compared to home prices and what you'd have to pay if you financed--pay the lower rent and start a savings account.
7. Its' not the best time to buy, if you plan to move around in 12 to 24 months--it would be better to wait...get your financial ducks in a row, and start saving for the day you'll purchase and the market stabilizes.
8. It's not the best time to buy, if you can "just about" afford your next home--stuff happens, jobs come and go. Don't over-estimate your financial capabilities.
9. It's not the best time to buy if you don't have some kind of financial cushion to tide you over in case of financial emergencies--some financial planners recommend  having at least 6 months of current income in the bank.
10. It's not the best time to buy, if you're not comfortable with the decision--something is telling to wait--there is nothing wrong with waiting; nothing wrong with making wise decisions--opportunity will always be there.

 This month's recap inludes the prevailing price ranges of all active listings in Sun City as well as the number of active listings for each neighborhood within Sun City. There is a summary at the end of the recap.

Active Listing Recap by Neighborhood

Active Listings in Sun City

•·         243 homes on  the market Sun City

•·         23 homes on the market Riverbend

•·         Average Selling Price for Sun City Homes:  $257,227

•·         Average Selling Price for  Riverbend:  $687,865

Within Sun City there are distinice neighborhoods. Each has it's own governance with oversight by the community association. The Duke of Beaufort community had the most activity and it is the oldest "community within Sun City that feature Del Web Built homes with mature landscaping.

Recap of Sales by Neighborhood for the past 6 Months

The Following Represent One Sale in each neighborhood for last Six months

Sold May to October 2007:  103 Homes, Average Asking Price: $280,618