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BY MARK KREUZWIESER / PHOTO BY ROB KAUFMAN

A buyer's market and a borrower's dream

Ever the optimists, Hilton Head Island/Bluffton area Realtors are singing the praises of the real estate market in these times of economic woe.

A July article in the Wall Street Journal touted the improving state of Hilton Head's vacation home market — something that Charles Sampson of Charles Sampson Real Estate Group said he’s seen as well.

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"It's a great time to be a buyer,” Sampson says. “We're seeing lots of second- and investment-home buyers. They rent them out, and when values go back up — which they will — they'll cut them loose. We're seeing great values for people who wanted to buy a couple of years ago but couldn't afford it. Now, they can."

No matter how the market dips and sways, the Lowcountry's amenities will always be here, Sampson says. And sometimes, the best time to buy is when you don't really want to buy, he says. "Many of the properties that are selling are the undervalued ones, though we're still selling oceanfront. And bank rates now are spectacular, if you can get a mortgage."

Those who can take advantage of an undervalued, lowinterest-rate and still rather flooded real estate market often turn to the area’s many property management companies, who represent the owner in dealings with renters and agents, collect rent and provide maintenance service.

Ken Oliver of Dunes Marketing Group agreed that buyers are taking advantage of a "very attractive market and interest rates. I think it'll take a while for prices to come back up. For the buyer, I don't see how the market could be any better. And if the investment buyers hold on, they will be rewarded" when the market rebounds.

"Home values in many communities are starting to reach an equilibrium, but there are thousands of dollars in savings a year (in interest rates) to be had," Oliver said. "We're seeing lots of investment buying."

Sampson agrees. “If you buy today and hold on,” he says, “You’re going to do very well.”

Six reasons property management is a must

Here’s an open secret: You don’t have to be Warren Buffett to a ord a vacation home. If your wallet isn’t stu ed with extra cash but you treasure the idea of vacation home ownership, consider engaging a sound property management company to market your home to vacationers. By renting out your vacation home on a short-term basis, you’ll gain revenues to help pay expenses, and access to the property itself. The services property management companies provide can be broken down into several categories. (Bear in mind that not all companies offer all these services, nor do they all allocate their resources the same way.) Here are the top six reasons to use a property management company:

1. 1. To market your property. This includes outreach through brochures, direct mail, ads and web sites. Use of technology is becoming increasingly common for many property management companies. Not only does it enable them to reach a greater pool of prospective buyers, but it also allows them to establish a more trusted presence in an often insecure marketplace.
2. 2. To provide a staffed front desk, with checkin and check-out services. Again, the level of service varies widely — some companies provide personal assistance with a smile, while others offer little more than keys and a map.
3. 3. To coordinate home maintenance. This is especially necessary in the humid maritime environment of Hilton Head Island, where critters, salt air, and mold are constant threats.
4. 4. To coordinate housekeeping. This service also varies widely; some companies offering first-rate services to guests, while others offer the basics.
5. 5. To handle accounting. Property managers are responsible for rent collection and tracking deposits, and many offer administrative work, such as ensuring mortgages, taxes, insurance premiums and maintenance bills are all paid on time.
6. 6. But perhaps the most valuable aspect of having a property management company manage your home is its availability to you when it’s not making money. Longterm rental, on the other hand, means your vacation home is e ectively someone else’s for the duration of the lease. Renting it out by the week allows you those wonderful times, especially during the spring and fall, which the rest of the world doesn’t associate with Hilton Head Island. But that’s just as well. Let that be your secret.