Greater Hilton Head Area Reflects National Trend

Greater Hilton Head Area Reflects National Trend

Lawrence Yun, NAR chief economist recently report through RISMedia, "the (real estate sales) projections are enhanced by a tax credit expansion to more home buyers through the middle of 2010. Given the success of the first-time buyer tax credit to date, and the need for qualified buyers to continue to absorb inventory that will include additional foreclosures over the coming year, we are hopeful about the impact of the expanded tax credit because it will stabilize home prices," he said. "In fact, the credit is working better than first projected – it now looks like we’ll have 2.3 to 2.4 million first-time buyers this year."

"We are seeing evidence of this trend every week in both Hilton Head and the Bluffton areas", says Matt Houle, agent/owner of Exit Realty of Hilton Head. "In fact in the month of October 2009 alone there were 34 sales in the Bluffton area and 35 on Hilton Head Island. Many of these purchases reflect the national trend for first time home buyers, include those made in Hilton Head Plantation. Each week we receive many calls and email inquires about first time home buyer opportunities. It is clear that several people want to take advantage of the tax credit and participate in the best priced market this area has seen in several years", says Houle.