Butterflies are Free - on Hilton Head Island

The great annual butterfly migration to our island usually begins in September, a harbinger of autumn.

On September 11, 2012, the temperature on Hilton Head was 81 degrees with clear blue skies and gentle sea breezes. My first butterfly sighting was a fluttering group of yellow Sulphers, feeding on a clump of yellow hibiscus blossoms. The Sulphers were followed by the colorful Monarchs with their black-tipped and veined orange wings, then the Viceroys and the Gulf frittlary. The silver winged Fritillary arrived, flashing silver under orange-spotted wings. There are many other species, including the dramatically beautiful Eastern Tiger Swallowtail with its jewel-like gold and black tiger streaks anchored by dazzling blue pearl-size dots bordering the tail. Some of these gentle, fragile creatures are en route to a small province in Mexico. They feed here on flowering plants, laying 3-4 egg broods. In the spring hatching butterflies wing north.

There is a palpable feeling of excitement in our soft, sea air. Change is obvious in the world of real estate, causing much chatter along the "coconut vine" with agents exulting over a number of happenings: another oceanfront home has gone under contract. This one was priced at $7,200,000. That makes nine oceanfront sales (Three are "pending") in the past nine months just in Sea Pines (I don't have room in this blog to give you island-wide statistics). After three long years of soft sales, we're seeing very encouraging trends emerging in our market. For instance, a new "spec" house (6th row ocean/golf views) priced at $2,495,000 is barely framed but it is under contract! This tells us that buyers want new construction and are willing to pay for it. We have seen very few "spec" houses in the past few years because lenders were not interested in risking funds. The "spec" business was virtually shut down unless someone with deep pockets would fund a "spec" project. Builders are reporting seeing the best sales levels since July 2006 - six long years. Often we are asked by a prospective buyer if there are still any "deals" around. They have to be gently reminded that our pricing is at 2003 levels, which is already a very good deal! Most of our sold properties are within 10% of the asking price.

Some ask about "flipping". They want to know if we are seeing any properties being "flipped" for a quick profit. I suppose that depends on what you consider a quick profit. Not long ago I noticed a very nice lot in Harbour Town with partial views of Calibogue Sound (a nice view amenity) priced under $400,000. It sold for $350,000 - a great buy. It was immediately put back on the market for sale. Several months later it sold for $450,000. Not a bad short term investment for someone's portfolio and not a bad profit but flipping often depends on a buyer listening to his real estate agent's information and expertise in our market, then having to be prepared to act quickly. No agent is going to tell you purchasing anything is not without risk. They can only give you information that may or may not assist a prospective buyer. It has been my experience in my real estate life to learn that some people can make quick decisions (such as doctors) and others cannot or do not. (Dare we say lawyers?) Right now there are some unusual and unique opportunities available that I have been researching for a customer/client whom I've sold to and listed property for before. He and his wife are very bright and very detail oriented. They have been very successful not only in their primary business but in their real estate investments. They are creative thinkers.

Money seems to be pouring into Hilton Head. The Westin Hotel at Port Royal Plantation (north end of the island) has plans on the drawing board for a $30 million renovation; the Sonesta Resort (formerly the Crown Plaza at Shipyard Plantation near Sea Pines) has announced it will undergo a $30 million renovation of its 340 guest rooms and its public spaces in addition to adding a spa. Everyone seems to be adding a spa. Big business, spas.

Three other Hilton Head beachfront hotels, Holiday Inn Oceanfront (now named The Beach House), Hilton Head Marriott Resort & Spa and the Omni Hilton Head Oceanfront Resort have already either undergone or announced major renovations. Our local tourism officials say this activity heralds a new era for the island's main economic driver, increasing property values and investment.

The Sea Pines Resort has announced plans for a new Heron Point (Pete Dye designed) and Ocean Course clubhouse. The 16,000 square foot clubhouse will be sited where the Plantation Club is now. Our family was Charter Members of the club and have many fond memories of it. It will be torn down after a final October remembrance celebration. The estimated cost of the new facility is $12 million. There will be 2,000 square-feet of meeting/function space. It will provide a premier golf experience for property owners and visitors.

By Labor Day weekend, summer was officially over. The sun had set on the best summer rental season since the beginning of the economic downturn. Rentals were up 12-15% for many rental companies. Properties were selling again. The 32nd annual Hilton Head Island Celebrity Golf tournament welcomed around 30 celebrities who played golf (some don't even know how to play golf but everyone has fun) on three fine area golf courses. Song-writer Paul Williams was present for the occasion: "Rainy Days and Mondays," "You and Me Against the World," "We've only Just Begun," ended in raising more funds for children's charities (over $4 million to date) and gives the public the opportunity to play golf with the celebrities.

Coming up will be polo at Rose Hill Plantation on October 14th and on November 3rd at Honey Horn Plantation (where the wonderful Farmers' Market is held each Friday in season from 8:30 a.m. until 1 p.m.) a signature annual event on Hilton Head, The Concours d'Elegance. Residents and visitors will see some wonderful antique automobiles being driven around the island near old oaks, tall palmetto trees and still-blooming magnolias. It was recently named to the Southeast Tourism Society's Top 20 Events list.

Before the last butterflies fluttered away from the island, acorns began falling.

Plantation Club on Dwellable