According to the Hilton Head Area Multiple Listing Service (MLS), the local real estate market has felt little to no effects of Hurricane Matthew. We've obviously had clients reschedule their trips during the month of October but we haven't lost a single contract due to clients backing out from damage.
Having recently being recognized as Travel + Leisure's Top Continental U.S. Island, Hilton Head Island is still 27% cheaper than the peak set in 2005. Sellers property values have increased at an average of 7% year to date, while inventory continues to decrease.
Making money in the real estate is all about timing and affordability. With interest rates still at record lows, this is a great time to buy. Investment property sellers that have their properties on the rental market are motivated to unload so they don't have to carry the property for another 6 months before our next busy rental season.
Foundation Realty has some exciting news in the next few months. We are opening a new office, we have a new marketing campaign scheduled to start January 1st and we continue to add more experienced Realtors to our company.