Distressed Sales No Longer Dragging Down Home Values
Posted by Rick - HiltonHeadRealEstateSearch on
The Hilton Head area real estate market has been incredibly successful over the past several years as it is recovering from the Great Recession. Rather surprisingly last year was the strongest EVER IN HISTORY for Hilton Head area home sales! I say “surprisingly” because who would have expected 2013 to be the all-time record for home sales; yet it was. Not only that, but statistics show that this year's home sales market is on pace for another newsworthy showing. One of the primary causes for 2014’s success is the rapid decrease in distressed sales, foreclosures and short sales, which suggests that the area's overall real estate market is settling in for an era of prosperity and stability.
What Exactly is a Distressed Sale?
You may be unfamiliar with…
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You may have heard of the unparalleled success of the real estate market in the Hilton Head area, which had a record-setting year in 2013.
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It looks as though this positive trend will continue as the first quarter of 2014 has continued to show the impressive prosperity of the Hilton Head Island area real estate market.
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Home sale numbers have stayed historically high and median sale prices, while still low, are nearing the highest they have been in the past 5 years.
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