Collins Group Realty

A new seller-client asked yesterday if they were going to be able to make up for their “loss” upon selling their property when they go to purchase a replacement property. Generally, if you buy in the same marketplace at around the same time, YES! However, if you buy in a different area than where you sell, you might do even better…or worse…depending upon those market conditions.

 Real estate is necessarily LOCAL, so national trends are hard to apply in any given specific location. That being said, our market is a buyer’s market, making it an ideal time to purchase. It may sting a little if you are a seller in this market, but if you are going to turn around and make a purchase of another property here, you are likely to “make up” for that sting when you secure a good-deal yourself in YOUR purchase.

Does polybutylene plumbing always need to be replaced if found during a home inspection?

Not necessarily. A buyer client recently questioned a house that had polybutylene plumbing with copper fittings, wondering if this is a system bound to leak. Generally speaking “poly” plumbing systems have failed at the fittings (pipe connections) and not in the piping itself. We asked over 10 local plumbing contractors, …and they tell us that “poly” with copper fittings is “as good a plumbing system as any out there.”

Good Morning!

Here’s hoping you had a great weekend! The number of newly listed properties held steady while the number of newly accepted contracts and successfully closed properties rose!

Below is the MLS report for all listings on Hilton Head Island and Bluffton for the week of October 30, 2010. Please review the following and let us know if you have any questions on the statistics.

Active (New listings): 135 (0% change from last week)    

Homes: 81

Villas: 31

Lots: 23

Pending (Accepted contracts, but not yet closed): 84  (Up 23% from last week)

Homes: 51

Villas: 24

Lots: 9

Sold (Closed contracts): 63 (Up 14% from last week)

Homes: 40

Villas: 16

Lots: 7

Price Reductions: 190  (Down 5%  from last week)

Homes: 115

Villas: 43

Lots: 32

Have short-sales and foreclosures lost their appeal?

With the recent news about robo-signing and processing errors on foreclosure files, it is clear that everyone involved in the real estate downturn is learning their way through the market day-by-day. These unprecedented times come with surprises, which can be upsetting to sellers and buyers.

While no transaction is bullet-proof, there are some buyers who are favoring the traditional-seller to traditional-buyer arrangement in lieu of pursuing short-sales and foreclosures. Stories of long delays in the short-sale process or short-sales that result in NO-sale can impact a buyer’s decision on which properties to pursue in their search. And with potential upsets in the foreclosure arena, some “regular” sellers are feeling as though they may once again have a chance at being the shining stars in the inventory. As always, time will tell…

Good Morning!

Here’s hoping you had a great weekend! The number of newly listed properties continues to decline slightly while the number of newly accepted contracts edged up a bit last week.

Below is the MLS report for all listings on Hilton Head Island and Bluffton for the week of October 23, 2010. Please review the following and let us know if you have any questions on the statistics.

Active (New listings): 136 (Down 14% from last week)    

Homes: 76

Villas: 42

Lots: 18

Pending (Accepted contracts, but not yet closed): 68  (Up 7% from last week)

Homes: 56

Villas: 8

Lots: 4

Sold (Closed contracts): 55 (Down 5% from last week)

Homes: 35

Villas: 18

Lots: 2

Price Reductions: 202  (0 change from last week)

Homes: 132

Villas: 38

Lots: 32