A Lowcountry and Oldfield real estate update… by the numbers!
1 – The Bluffton / Hilton Head market was the #1 Market in SC in 2011.
1,961 – The number of homes purchased in the Lowcountry in 2006.
1,925 – The number of homes purchased in the Lowcountry in 2011. (the buyers are back!)
6 – The number of brand new furnished models at Oldfield ~ Priced from $399K to $469K
8 – The number of new home starts in Oldfield over the last 60 days!
72 – The temperature in the Lowcountry today! (Sorry – We couldn’t resist.)
Clearly there’s a lot to celebrate! But why the momentum?
Buyers have begun to reinter the marketplace for all of the obvious reasons (incredible values, historically low interest rates, and an attractive selection of properties), but there appear to be two additional (underlying) variables that are less quantifiable but equally important: certainty & acceptance.
Uncertainty has an uncanny knack for putting people in a holding pattern. It fosters a sense of security through inaction. Having said that, much of the market’s uncertainty has lifted… and buyers can wrap their arms around the reset marketplace and feel reasonably comfortable that while they might not know “where the bottom is” they’re fairly confident that the bottom already fell out.
Second, many buyers have accepted reality relative to their own properties and are now willing to make informed buying decisions. While selling high and buying high felt better, it’s effectively the same net event as selling low and buying low. Much like the stages of grief, however, getting to that acceptance of reality just takes time. You could argue that it took the marketplace the better part of 4 years to reach an general acceptance of the reset in values. That acceptance has allowed them to leverage the marketplace’s opportunities – freeing them up to move forward with their lives.
Prices, rates, selection, certainty, and acceptance are all aligned in your favor and buyers should be having the time of their lives. The stars are aligning and our sense is that Oldfield is going to have a strong 2012.
Come on down and spend some time at Oldfield and see why everyone’s so excited! The Discover Oldfield program is a low key opportunity to enjoy a weekend of Authentic Lowcountry Living… and you might just discover that it feels a lot like home.
