November 2012

Found 3 blog entries for November 2012.

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We have seen mortgage interest rates reach historically low levels and with 2013 quickly approaching, it leaves us wondering where rates in the Hilton Head Island area are headed. No one knows better where rates could be headed than the Mortgage Bankers Association (MBA) who deals with this on a daily basis. The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 280,000 people in virtually every community in the country. A recent article in Market Watch had this to say:


“After reaching record lows in 2012, mortgage rates are expected to creep up slowly in the year ahead, the Mortgage Bankers Association predicted.


Rates on the 30-year fixed-rate mortgage

2,343 Views, 9 Comments

 

home_sold_170 The Housing market in the Hilton Head Island area is surging. Not only is the real estate market as a whole surging in the Hilton Head area, so also are luxury home sales. The number of homes sold for over $1M are up from 87 sold in the first 10 months of 2011,to 99 in 2012, which is a 14% increase. Here are the specifics.

 

2011      

o   87 homes sold for total of $149.8M

o   69 homes in the $1M’s

o   12 homes in the $2M’s

o   2 in the $3M’s

o   2 in the $4M’s

o   2 over $5M

 

2012     

o    99 homes sold for total of $177.9M

o   75 homes in the $1M’s

o   13 homes in the $2M’s

o   6 in the $3M’s

o   3 in the $4M’s

o   2 over $5M


Even more compelling for the luxury home buyer is that the average…
1,276 Views, 0 Comments

 

turner_blog_120  

 

Baby Boomers represent the largest generation in the history of America. A few years ago a Fortune Magazine article reported there were 77 million Boomers in the country, which is three times any previous generation in history.

History shows us that any time the Baby Boomer generation entered a new phase in life, the
US economy changed to accommodate their massive numbers. They have controlled the economy since their boom started in 1946.

The Fortune article touched on how Baby Boomers are now stampeding at a rapid pace toward their retirement years and will be doing lots of buying, just as they have done when they entered past phases.

Now that Baby Boomers are entering the retirement phase, where are they going? A recent

1,235 Views, 0 Comments

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