Locale | Hilton Head Real Estate Blog

7/11/08

Use your IRA to invest in real estate

By David Hahn

Take advantage of the incredible bargains, put them in your IRA and let them grow. There are huge tax advantages to implement this plan. Consult you CPA for additional details.

Here are some things you can do. Your IRA can be used to buy and sell all types of real estate including raw land, rental properties, condo’s, fixer uppers, commercial properties, etc.

(1) You can rent the property but your rental income goes back into the IRA.

(2) All operating and rental expenses must flow in and out of your IRA

(3) You can even buy a partial interest in a property if your IRA doesn't have enough money to purchase 100% of it.

Here are a few things you cannot do.

(1) Your IRA cannot buy a property that you, your spouse, or certain family members already own.

(2) Personal use is off limits. This includes all family members.

(3) Your IRA cannot lease the property to your business. Your business cannot use or occupy any part of the property.

The biggest advantage to this. Is the government puts a limit on how much you can contribute to your account each year. But there’s no limit on how much the account can earn!

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Posted by David Hahn in Real Estate, Real Estate Trends | 1 Comment »

6/10/08

Town of Hilton Head Island Land Acquisition

By David Hahn

Every month I receive my bill from the Cross Island Parkway, and I started wondering where all this money was going. After doing some research, I found some pretty staggering results, which in some ways made me smile as I drive through the toll booth.

To date, the Land Acquisition Program has resulted in:

102 Parcels purchased totaling 1,149 acres

Total expenditure of $120.5 million

Reduction of 4.15 million sq feet of commercial development

Reduction of 3,266 multi-family and timeshare units

Reduction of 1,365 motel rooms

Because of the Land Acquisitions and rezoning efforts, housing unit projections have been reduced by 19,942! In 1985 the comprehensive plan was calling for 56,926, and in 2004 it was calling for 36,984.

Living here we sometimes take our Island for granted, but all it takes is a trip to the beach, or a boat ride to make me realize how lucky we are to live on Hilton Head!

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Posted by David Hahn in Real Estate | No Comments »

5/5/08

Whales off of Hilton Head

By David Hahn

I usually don't tell fishing stories on a blog, but this one is once in a lifetime!!

I decided to take some clients fishing this past Thursday, and after catching some bait just off of the beach, I pointed the boat on a Southeast heading and set off. On the way out, a client of mine(Jason) asked. “What’s that floating in the water”? I pulled back the throttles to what appeared to be a capsized boat at first. When all of a sudden this thing rolled over and blew water 15 ft in the air. At first I just stood there, and then I started yelling for someone to grab a camera. Yep, for the first time in my life I was looking at a giant whale, and it was only 3 miles off of the Hilton Head beach.

I shut the motors off, so as not to spook him while we searched for a camera, and noticed there was another whale with that one. I called the coast guard on the VHF to give them the GPS coordinates so they could relay them onto all the container ships coming into the Georgia ports as not to run over them by accident. While I was doing this, I noticed the one whale was swimming over to my boat, but went under about 20 ft away from the boat. Next thing I know, i feel my boat roll slightly, and then the motors started shaking and bouncing on the transom. The first thing that came into my mind was, he must have an itch(laughing slightly). He literally had his head up on one side, and tail up on the other while he was centered perfectly under the boat. All of this was taking place while I was talking to coast guard on my VHF. She asked me if the whale was entangled in anything, and I said “no”. Then she asked me if the other whale was a baby and, “I said he appears to be the same size”. Needless to say, as soon as he got out form under the motors I cranked up and pulled away for his safety and mine.

All in all he was about the size of school bus, and had barnacles all over him. I started fishing these waters when I was 14 years old, but have never encountered anything like this!!

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Posted by David Hahn in Real Estate | 1 Comment »

3/7/08

The 3 P’s can get your house SOLD!

By David Hahn

So, what are the 3 P’s? Well, the first P and most important one, is price. Today’s real estate market is not the same as it was from 2003 until 2006, so you have to get that out of your mind. It’s hard to do when an appraiser says your house was worth $100,000 more two years ago, but really an appraisal is only good for less than 6 months. With homes selling, coming on the market, or being foreclosed on everyday in certain areas, your comparable’s are always changing. Proper pricing is a science, not an art!

Promotion is KEY! The National Association of Realtors says that 80% of today’s home buyers start the search first by using the Internet! As an agent, the print media is a great source to use for our name or branding, but it doesn't reach the consumer in Ohio looking to purchase on Hilton Head. This is one of the main reasons why we spend thousands of dollars each year advertising on websites like, www.HiltonHead,com, www.Bluffton.com, www.locale.com, www.HiltonHead360.com, www.SeaPinesRealEstate.com, and promoting our own website at www.LowCountryPreview.com. The same should apply for an agent in your area!

First impressions are the lasting ones, that’s why Presentation is the last P we will be discussing. What’s the first thing someone looks at while looking at an ad? The picture! As a professional agent, I strive in getting the best pictures I can for each one of our listings. Nobody wants to look at a tree blocking the house, or yourself standing in front of a mirror taking the picture. The ad’s description is also very important, and shouldn't be written up as, ” Nice house in a quite neighborhood”. What about the features, views, and memories the house has provided.

As a seller if you follow my advice on the three P’s, you will see results! I know our clients have seen them year after year, and in a slow market we still managed to close over $23 million in real estate transactions! After last years achievements, our sales total is over $230 million with the Sea Pines Real Estate Co.

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Posted by David Hahn in Real Estate | No Comments »

1/17/08

I Wish I would have bought back in the day!

By David Hahn

I am amazed at the number of visitors or clients who say, “We should have bought property 10 years ago when we first visited Hilton Head”. Regardless of all the negative media hype that’s been spewed about the real estate market, our market, for the most part, has held up remarkably well. Hilton Head is a beautiful and desirable place to live and invest. Between Hilton Head and Bluffton, our market sales have totaled over 3 billion dollars in 2007.

Another reason why Hilton Head hasn't felt the crunch as much as most of the country, is because we are 97% built out. Our Island is a barrier Island and is only 12 miles long by 6 miles wide at the widest point. This is a huge advantage!

Even though the economy is slowing, no horn is going to be blown stating that we've hit rock bottom. Construction is slow, and you can actually negotiate with contractors again. Lumber prices are low, 0% financing is being offered on vehicles, and interest rates are approaching all time lows . So, why is it that Sea Pines Plantation has sold more oceanfront homes in 2007 than in the previous years? It’s simple, smart money knows how to play the game!

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Posted by David Hahn in Real Estate | 3 Comments »

1/4/08

Thank you Google!!

By David Hahn

Are you tired of paying for all of those 411 calls? Google has launched a new 411 service that is free, and they take it to the next step by connecting you for FREE . No more of this,” you can be connected for an additional 35 cents”. It even gets better! If your phone is internet capable, they'll send you a map of the listing.

All you have to do is call 1-800-466-4411, and an automated service will answer the phone. After giving them the name of the business you're looking for, you will be asked if you'd like to be connected, or if you'd like additional details. If you ask for additional details, you will be given the name of the business, address, and phone number.

I can't tell you how much time this is going to save for me. As a real estate professional, it seems as if I live on the phone. The convenience factor of this new automated 411 service is great. Just last week I needed to round up some rental projections for a client. I had to pull off of the road, get out of the car, find the phonebook, and then waste another 10 minutes thumbing through all of the yellowpages. The 1-800 number is now programmed into my cell phone, and it works great!

Watch this video to see how this new feature works:

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Posted by David Hahn in Whats New | No Comments »

12/12/07

Hilton Head Flies High with Delta

By David Hahn

Over ten million travelers will be flying with Delta this December. Tucked in the seatback pocket in front of them will be a 32 page editorial featuring Hilton Head Island, Daufuskie Island and Bluffton. From the natural beauty of the beaches to challenging fairways to the thriving arts community, readers will get a broad view of all the lowcountry has to offer. Travelers will also see scenic images of our region during in-flight video presentations.

You can also find the editorial coverage online through 2008 at www.delta-sky.com. Thank you

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Posted by David Hahn in Real Estate Marketing | No Comments »

12/5/07

South Carolina Real Estate Outlook

By David Hahn

According to University of South Carolina economists, a slowing economy in the rest of the country and a weaker dollar might help tourism on Hilton Head.

“I'm thinking Hilton Head Island could actually be one of the beneficiaries of the tourism growth because of the declining dollar. A lot more people will be taking vacations closer to home. Hilton Head Island, with its reliance on tourism, might not see its economy slow as much, if at all.” Doug Woodward and Paulo Guimarares presented this forecast to research economists this week in Columbia, South Carolina.

In rebuttal to the gloom and doom of national news media reports, buying a home isn't stupid, says the National Association of Realtors. The press has been relentless with negative news, but 2007 will be the 5th best housing year on record.

Homeownership is not a quick in-and-out purchase like stocks. Wealth is built over the long term, which is one reason why homebuying is heavily subsidized by tax savings and generous loan programs that enable people to get into homes without large down payments.

Stocks and houses aren't the same. Over ten years, a $10,000 investment in the stock market at a normal 10 percent market rate of return would yield nearly $24,000. The same investment as a down payment on a $200,000 home at a normal appreciation rate of 5 percent would return nearly 5 times the stock market return, or over $110,000.

We are able to get 5.875% on a 30 year fixed conforming loan with no points at this moment. The rates are great and the prices are lower than they have been in years.

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Posted by David Hahn in Real Estate Trends | 2 Comments »

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