I’m sure you have noticed the large number of new homes being built on Seabrook over the past two years. That trend is continuing and it shows a high level of confidence in Seabrook’s future and in the general economic picture. For the first time in years we are even seeing a sprinkling of “spec” homes being built on Seabrook Island.
We have also tested the market by placing builder’s plans on certain unsold homesites and offering a package to prospective buyers. We have seen some success with this strategy.
While this is all good news, it also clearly places an even higher focus on the importance of “condition” as a selling point for older homes. A very high percentage of homes and villas currently for sale on Seabrook were built in the 1980’s and 1990’s. Many of these are on highly desirable homesites with magnificent views, since they were the earliest home sites chosen as Seabrook was developed. Many need varying amounts of upgrade to compete with newer properties.
As a full service company, Seabrook Island Real Estate is gearing up to help owners of these properties prepare for sale in hopes of reducing the length of time a home is on the market while increasing the final sales price. Having a comprehensive plan to prepare and update your property, in advance of offering it for sale, is crucial to lowering your stress level. It also gives you the best chance of selling it for the most money, in the least amount of time, and helps you to better compete with newer homes on the market.
If you are thinking of listing you property in the near (or even distant future), and are interested in learning more about the building a plan and team for preparing you property, feel free to call me or your favorite Seabrook Island Real Estate Sales Executive. We are also in the process of planning a Property Preparation Expo at the Club. The Expo will be an open forum showcasing a wide variety of experts in this field to help Seabrook property owners plan for the future.
Thanks as always for your continued support and business,
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Except for a weird two week period in early July, the Seabrook Island Real Estate market continued to be quite active over the summer. Right now there are 101 properties either closed or waiting to close in 2014, with almost four full selling months remaining in the year.
The most improved portion of the market is single family homes. In 2013, a total of 46 single family homes were sold, while in 2014 that number is already 44 and is on a track to be about 60 by year end. Villas are on track with 2013’s numbers, when 61 were sold. So far there are 46 villas either closed or waiting to close, again with four sales months remaining. Continuing on this track would mean an increase in residential sales of about 10% by year end. At the writing of this article, there were 91 single family homes on the market and 96 villas. This translates to about a year and a half supply, well down from the highs.
Sales of homesites are lower than last year with 13 sites closed or waiting to close. There were 30 closed homesite sales in 2013 and now 105 homesites on the market.
In the meantime, our marketing efforts and those of our Sales Executives continue to bear fruit, and your real estate company has generated the highest market share of sold properties in the history of the company. Real Estate produced a healthy profit for the first half of the year and helped to generate a significant increase in Club membership. We expect that to continue in the 2nd half based on the number of sales already waiting to close at this time.
A detailed comparison of the first half of the year shows that the Seabrook Island Real Estate market was in line with or better than our main competitor communities in the Charleston area and significantly better than competitors South of us in the Hilton Head/Bluffton markets. Inventory backlogs are also in line or better than in those markets.
As an added service to our current and future clients, Seabrook Island Real Estate is looking into programs to help owners of older properties, those built in the 1980s and 90s, to find ways to efficiently upgrade features of their homes in order to generate a higher return when they are ready to sell and to get their homes sold quicker. You will hear more about this in the near future!
Hope y’all had a great summer and as always, please feel free to call me to talk about the Seabrook Real Estate market.
Happy April everyone! We hope everyone had a good Easter holiday and start to spring! The island is buzzing with the new season starting. And the weather is finally starting to make it feel like summer. Welcome to everyone that is here visiting! And for everyone who isn’t here, you should come see us!
With tons of renters coming for the summer, long-term renting has become an interesting topic. Should you rent long-term or should you buy? Everyone comes to this question at some point in life. It’s no different on Seabrook. We have tons of amazing rentals here on the island, but we also have beautiful homes too. Throughout the US, the rising cost in rent has started to change the way people are investing their money. Low mortgage rates are starting to be a game changer, because why would you renew a lease when you could break even on a house in less time? Take into consideration the assets you gain with a home purchase, the appreciation of equity is a huge factor. Also, buying and then renting out your second home is a great way to make residual income. The biggest benefit for renting long-term is that you wouldn’t have to stay anywhere for an extended period of time.
But on an island like Seabrook, why wouldn’t you want to come and stay?
Thanks for reading! Be sure to comment!
Happy March to everyone! If you haven’t been following us on Twitter or Facebook, you might have missed that we recently launched a “Meet the Agents” campaign for our SIRE Sales Team.
What, you might ask, is the point of this campaign? After much collaboration, we here at SIRE have realized that a name and a biography does not do our team justice. You deserve to know who the people are that are representing your Island and Club on a day-to-day basis. Therefore this campaign is to help you put a name with a friendly face. This campaign will also help our agents better their personal branding initiatives, with updated pictures and personal logos that will help distinguish them from other agents. By doing this, we hope to expand our agents’ and company recognition. We hope that this campaign will show that we are the best Real Estate company to work with when buying and selling on Seabrook Island.
Thank you for reading, we hope to see you soon!
Recently a very nice, happy couple came into our lobby in the middle of the mid-February ice storm. Of course, I immediately apologized for the weather. They let me know that it was all relative and that, back home in Cleveland, it was 5 degrees and they were perfectly happy with 35 and raining, knowing that by Saturday it would be 65 and sunny.
This was their first time on Seabrook and they were staying for a week. They told me they were blown away by the beauty and friendliness of the island. During their bike ride the day before, at least five friendly Seabrookers along the route stopped to talk with them. On that ride, they also happened to meet a couple who were looking at property with a Seabrook Island Real Estate agent. That couple invited them to join in as they looked at villas.
So here they were, 9 o’clock the next day, in a driving rain and sleet storm going out with that same Seabrook agent to find their Seabrook dream property. As a friend of mine often says, “you never know who is watching” or in this case, with whom you will be talking. The biggest concern people have when making a major move to a new community is how will I fit in and will I make friends. We are learning this more and more as we talk with prospects at the Ideal Living Expos. So, we offer to set up conversations with Seabrookers who have recently purchased, knowing they will have the same experience as this couple from Cleveland.
I want to thank all of you for your help! Whether it’s talking with guests at the Lake House, Island House, Pelican’s Nest, or just on the beach, you are our best ambassadors.
We have had a very active January and perhaps that can be attributed to the even worse weather up North. Feel free to call anytime if you would like to talk about real estate on Seabrook!
Joe Salvo, Broker-In-Charge
(*excerpt from the Veranda – March)
With a market in recovery, the number of listings is increasing and home buyers are given more inventory to choose from. Real Estate experts suggest that 2014 will be a great year for real estate because of increasing demand.
It seems as though the real estate market is booming here in Charleston. In 2013, Charleston home sales reached an all time, five-year high, and house flipping in South Carolina increased by almost 16%. With the economy reaching stable ground, people are more confident in keeping their jobs, and because of this real estate is seeing a steady increase in big consumer purchases. Consumers are finding themselves with a strong urgency to buy because of the low loan rates and a high feeling of empowerment with employment opportunities increasing.
The housing market and economic health are tightly tied together, therefore we see people beginning to make bigger purchases as our economy begins to level out. Seabrook is no different, we expect 2014 to be a big year!
Thanks for reading!
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