John Ussery · Ussery Real Estate Group
http://www.usserygroup.com
Hilton Head Area MLS sales jumped 46% in 2010 over 2009 as median sale prices show a decrease of 37% since 2007!
Unfortunately, 'time' is not on our side. Life has a way of indiscriminately marching forward without regard to our personal ideals or timelines. My wife and I have two young boys (Jack and Finn), and I'm always struck by the look in the eyes of men and women who smile at my kids and wistfully comment "enjoy it while it lasts... they grow up fast."
In real estate, we tend to view the market through a narrow lens... it's not unusual to focus on whatever element is advantageous to us personally. Sellers tend to focus on encouraging news about increased sales; and buyers tend to focus on reports about reduced prices. The reality, of course, is that both parties are right. They're simply focused on one side of the same coin.
Oddly, you can learn a lot about life and business by watching the mother of all Easter Egg Hunts. Having seen 'this show' before, my wife (Erin) encouraged the boys to stay away from the perimeter and to head straight for the middle of the field. In effect, she told them to 'get ahead of the crowd' and cherry pick the most/best opportunities.
To date, the Ussery Group has closed or pended 10 properties (7 Homes & 3 Homesites) in 2010. That's over $7,200,000 of business throughout the Lowcountry! We're working harder than we've ever worked, and our focus has been singular - results for our clients.
Friday's Wall Street Journal referenced the 'comeback' of the Old Masters at recent art auctions by Christie's and Sotheby's. "Although the recession hurt every art category last year, Old Master values at auction only fell 12% last year, compared to a 60% drop for contemporary art." "Old Masters have a history of rebounding quickly from downturns."
The homes that are selling, are selling for less than reproduction costs. Once the inventory of homes that are priced below reproduction costs is gone, we'll see a shift in focus to homesites.
On January 26 I posted a blog titled the "The Cost of Waiting (part 2)" where I noted that "The true value of residential real estate doesn’t have anything to do with monetary consideration. Its value lies in its capacity to foster relationships and facilitate memories."
For prospective owners who are new to the Lowcountry, it can be a difficult decision. Do I buy real estate on Hilton Head or do I purchase in Bluffton?