About Hilton Head Island's Shipyard Plantation

GREETINGS FROM SHIPYARD !: The fortunate few to visit our Island over the past few weeks have enjoyed the splendid weather, quiet beaches, golf courses and bike paths. Now with the Holiday's upon us we begin a season of giving thanks for among other things the oportunity to call Hilton Head home, family and friends. We want to offer our sincerest thanks for all we take for granted most of the year. We hope you have a wonderful Thanksgiving with those you love.

INTEREST RATES : The President has signed into law an extension of the $8,000 1^st time homebuyer tax credit for those who have not owned a home in the past 3 years and added a $6,500 tax credit for those who have owned a home for the past 5 yers and wish to make a move. If you have questions or know someone who wants to take advantage of either of these programs, please let us know, we're happy to be of service. Interest rates continue to hold steady (5% range +/-) as does the Prime Rate which gives some measure of hope for those with mortgages (and credit card rates) tied to the Prime.

VILLA & HOME SALES ACTIVITY : The aftershocks and over corrections from past lending and credit abuses continues to have an impact on mortgage availability and buyer credit worthiness in the Conventional, Jumbo and Villa markets. Some potential buyers consider investments in the stock market and gold futures more desireable than real estate. Overall sales activity is what we consider to be normal 2009 seasonal activity. All that being said average price of sold homes and villas in Shipyard continue to drift down and should contiue that trend through mid-2010.

What's HOT? What's NOT! : Click on www.TeamFanning.com for the complete list of foreclosures, short sales and entire MLS inventory.

If you, or someone you know, have been thinking of selling or are interested in knowing more about the best values in the Hilton Head- Bluffton- Sun City area, click on www.HomeValuesinHiltonHead-Bluffton.com for a Market Snapshot of available properties, recent sales, FREE Community and School Reports all emailed directly to you in minutes!

Shipyard Plantation, on the south end of Hilton Head Island, is an 800-acre secure island community. Close to an array of fine dining, waterfront cafes and elegant shoppes, this resort community hails an outstanding location. Lovely landscaped grounds surround its massive freshwater lagoon system where, with the lush island foliage, you are likely to discover an alligator peering from the rippling waters. Twelve miles of winding paths and trails with moss draped live oaks are perfect for bikers and joggers and provide the ideal backdrop for memorable photos.

Immersed in seclusion and tranquility, Shipyard is a beautifully preserved retreat, whether you are looking for a vacation destination or a lifestyle change. Real estate owners in Shipyard Plantation enjoy a private beach club, a 27-hole championship caliber championship golf holes and a tremendous practice facility. Home to the Van der Meer Tennis Center, one of the countries top twenty-five clubs, Shipyard is gracious, comfortable family living at its best.

Beach lovers comprise a majority of summer visitors in Shipyard Plantation, with condos encompassing the primary vacation rental. There are numerous luxury complexes located within this resort of warm attitudes and warm breezes.

Greetings from Shipyard! With the Thanksgiving Holiday Weekend now behind us and with this past Sunday's tree lighting here on Hilton Head Island, Black Friday consumer madness and Holiday songs on the radio, we are now firmly in the throes of, in the words of Clark Griswald - "a 4 alarm Holiday emergency!" All of us at Shipyard Real Estate want to wish you and yours a Happy and Healthy Holiday Season.

Financial News Update: Last weeks big real estate news was that the National Median Home Price lowered to early 2004 pricing. This week's news stated that interest rates continue to vacilate wildly. I had a closing today that is being held up because the lender needed to reissue the financial package because interest rates are lower today than last week! Let's examine these issues.

Median Price of homes drops to early 2004 pricing. In Shipyard early 2004 pricing of villas and homes were as follows- 1BR-$218,000; 2BR-$273,000; 3BR-$340,000; Homes-$428,000. Perhaps one reason we seen sales activitity fall off dramatically from '03 and '04 levels is because of overpricing. There are other reasons of course, like lack of buyer demand, Shipyard transfer fee, taxes, unrealistic seller price expectations and so on.

Interest rates have been drfting down but like the financial markets rates are vacilating wildly. That being said, 30 year mortgage rates have been in the low-mid 5% range of late. Even more astonishing is that Jumbo Rates (mortgages above $417,000) have come down too! I work closely with one local bank that has Jumbo money up to $2.5M for a fully documented borrower at 75% LTV (25% down- loan to value) offering 1, 3, 5, 7 or 10 year adjustable rate mortgages in the mid-5% range. If you would like additional information, just call or email.

What does it all mean? Where do we go from here? What it means is- if you have been waiting for a reason to purchase your dream home or villa, there is no better time than now! Yes, Santa is loading up his sleigh and news on the financial front can be unnerving to say the least, but now is the opportune time for owners to speak to their lender about refinancing their home or villa or to consider moving up (or down) to a new home or villa. Sellers have never been more ready to negotiate than right now!

For those buyers waiting for the right time to buy, the time is now! Even if prices of homes and villas drift a bit lower, your monthly payments should be lower at today's prices and lower interest rates than if you wait and interest rates go up while property prices come down a tad more. This coupled with the fact that in 60-90 days owners will be less inclined to negotiate, as they are right now, with the upcoming Rental Income Producing Season upon them.

Lower home prices + Lower interest rates + Available inventory = Great Opportunity!

Shipyard was the second planned community by the Hilton Head Company, but was oriented towards a residential as well as resort community. Situated on the ocean side of Highway #278, south of Palmetto Dunes, is Shipyard Plantation, one of the Hilton Head Island's original developments. Successfully blending a residential community with a renowned resort destination, Shipyard offers a full spectrum of amenities whether your stay is permanent, seasonal or for the few weeks of an Island vacation. Amenities at Shipyard include over four miles of trails for biking, jogging and roller-balding. Access to a long stretch of beach, said by many to be the areas finest, is through Shipyard Beach Club. Pools are available in all visitor areas and there are lagoons for fishing. Shipyard also benefits from the amenities of its resident resort, the Crowne Plaza. Shipyard has three 9-hole golf courses, famous for their three-time hosting of the Senior PGA Tour. But at Shipyard, it is tennis that rules supreme. Tennis Magazine has dubbed Shipyard Racquet Club, built for Billy Jean King, one of their "50 Greatest Tennis Resorts in America."

Community Highlights

• Centrally located in the heart of Hilton Head
• 803-acre community
• variety of single family homes in addition to villa (or condominium) residences and even rental properties
• Golf - three 9- hole championship courses
• Crowne Plaza Oceanfront resort
• Shipyard Racquet Club - A Van Der Meer tennis facility

Shipyard Plantation stretches across over 800 wooded and fairway-lined acres between Palmetto Dunes and Sea Pines. It offers serene residential living as well as a secluded location for vacationers renting property or staying at the popular oceanfront Crowne Plaza Resort. The Van Der Meer Shipyard Racquet Club is also found within the plantation offering 14 clay and six hard tennis courts kept in magnificent condition. Three nine-hole golf courses, recognized as some of the best in the country by the Senior PGA Tour, are available to residents and visitors.

Copyright of PDI Performance Development Corp

For Video of Shipyard Click Below

http://www.fraserrealty.net/shipyard.asp

Greetings from Shipyard! Now that the Presidential Election is past and we all know who will lead the new administration, we can look forward to the upcoming Holiday's. Believe it or not, last night the Mrs. and I saw Holiday lights on the trees being lit here on Hilton Head. Can Santa be far behind? Let's not too far ahead of ourselves, this being November, let's talk Turkey!

Thanksgiving has always been a major Holiday in our home. As a child, it was a time to gather with my aunt's, uncle's and cousins at Nana and Poppa Fanning's farmhouse in Southampton, NY. I became a father for the 1^st time on Thanksgiving and two years later for a 2^nd time, as well. It has always been a festive day to gather and give thanks for the blessings we have. This year is no exception. I hope you will be spend time and enjoy the day with those you love.

Financial News Update: This past Tuesday was Election Day and a national clebration of American Democracy. What a priviledge to have the ability to go the polls (6:45AM) and cast a vote. The results were historic and now as President Elect Obama begins to appoint his transition team, the economy remains item #1 for his upcoming administration. It is our hope and prayer that he will assemble a group that will lead the country out of the Recession and stabilize the economy. It is an immense task!

The key will be a Housing Stimulus Package. It was Housing that put us into this mess and Housing will lead us out. We have seen Bank of America and JP Morgan begin to renegotiate mortgages in an attempt to slow foreclosures and begin to stabilize the housing market. Other institutions will need to follow their lead and allow homeowners to stay in their homes and stop the steady decline of home values with foreclosure after foreclosure making everyone see their homes value go down. We would like to see the 1^st time buyer tax credit ($7,500) extended to all home purchases, interest rates lowered into the 4.5% range, the increased loan limits made permanent and Washington focused on stabilizing the housing market rather than giving money to Wall Street and Banks who use the money for mergers and acquisitions.

If the housing and mortgage sectors can be stabilized, homeowners will begin to feel more comfortable again and begin to purchase big ticket items and the rest of the economy will begin to recover. For now, we sit and wait.

Hilton Head's real estate market has stabilized- flat lined really and just sits along with the rest of the economy waiting, waiting, just waiting.... I've said it before and will say it again, it's a great time to buy! Home prices have come way down and there is a great selection to choose from. Villas will continue to see pressue on pricing for the foreseeable future.

If you needed to wait until after the election to come down for a getaway, then stop by or give us a call. If your unable to get away and still dream of palmettos and sunsets along the beach, go to our website and search to your hearts content. It's free! We won't ask you to sign anything and we promise not to harrass you, but we are always here to offer you assistance and insight should you need it.

We promise to listen to and focus on your wants and needs.

We serve the Hilton Head-Bluffton-Sun City areas and want to be your Realtor!

Click to search the MLS:

http://www.willyfanning.remax.com

What's happening on Hilton Head? Click Here:

http://www.hiltonhead.com/calendar_index.cfm?subcategoryID=31

Need a lender or have Real Estate questions?

Call me toll free at: 800-964-3928

or

Email me at : Willy@TeamFanning.com

Ask about our Holiday Buyer Incentive!

We're getting in the Holiday Spirit early and offering a super Buyer incentive- ask and yee shall receive.