Monday, May 21, 2012

May is Pink Sunsets, White Gardenias and Serious Money

When gardenias are blooming, Southern girls wear them in their hair. When the spring polo match is played at nearby Rose Hill Plantation on the mainland, pretty girls hot-walk ponies. On Hilton Head Island, May is pink sunsets, white gardenias and serious money.

A couple of weeks ago, an equestrian exposition and polo match, presented by Equus Ventures, LLC and led by Chairman Dr. Sandy Termotto, was held at the Rose Hill Plantation Equestrian Center where Hall of Fame horse racing jockey Eddie Maples and his wife, Kate, manage the center. Visitors to the center come from as far away as Dubai. The exposition competition involves gated horses such as the American Saddlebred, National Showhorse, Arabians, the Tennessee Walking Horse, the Missouri Fox Trotter, Morgans and others. Riders are attired in elegant riding habit. There is a Lowcountry Hunt demo, a Parade of Breeds that might include Paso Fino, Appaloosa, Shire, Hanoverian, Friesian, Thoroughbred, Selle Francais, Arabian, Palomino and Quarter Horse. Spectators see colorful carriages, enjoy creative tailgate picnics and better understand the powerful bond between horse and rider. The surrounding woods showboat with blooming white magnolia blossoms.

Eddie Maples was aboard the famous Secretariat ("Big Red") when he rode to victory in the Canadian International Champion Stakes.It was the revered horse's last race. Eddie has won 4,398 races including wins in the Belmont Stakes twice. He has competed in nine Kentucky Derbys. This event and others has raised over $215,000 to benefit local charities.

Serious money (serious to us) has been pouring into the Hilton Head real estate market this season. Five oceanfront homes in Sea Pines have sold and closed. One priced at $5,500,000 sold for $4,600,000; another priced at $4,900,000 sold for $4,550,000; another priced at $3,995,000 sold for $3,500,000. Occasionally we see an older oceanfront home sell in the $3 million range, then torn down to make way for a new oceanfront home. One buyer of a large, vacant oceanfront lot paid $9,600,000 and is building a handsome, spacious second home. He lives in Europe. Since the Island is close to build out, we often see interior older homes in a prime location costing close to $1 million purchased and torn down with a new home to follow. Many of these are second homes. One lovely home that is for sale, priced at $4,200,000 with 135-feet on the ocean, is only a couple of houses away from an oceanfront home formerly owned by author Patricia Cornwell.

In Wexford Plantation, an elegant mid-island development with British Colonial architectural influences and a large harbor for owners' yachts, there are a number of homes for sale in the $1.7-$3 million-plus range with owners who have already purchased another home in Wexford while prices are low. This means their properties are priced lower than what was paid for them but that doesn't bother the seller. It also means the current owner is paying two Property Owner's Assessments. Not to worry. They all love Wexford, its beautiful white, sparkling clubhouse, the safe harbor where they can access nearby rivers and the Atlantic Ocean. It is a very special community (originally developed by Marathon Oil).

Millions of dollars are being spent on renovations of existing oceanfront hotels on Hilton Head: The Westin Hotel and Spa, the Omni, Holiday Oceanfront and The Crown Plaza (now the Sonesta).

While all of this has been going on, two nature events are playing out on South Carolina's barrier islands with the arrival of two endangered species, drawn simultaneously by our warmer spring waters and the moon's cycle. One is a tiny shorebird called the Red Knot that weighs less than an iPhone, and a living fossil of the ocean floor that has been in our geological records for over 350 million years. It is the horseshoe crab. The female crab will beach at high tide and lay around 64,000 eggs in shallow water. The Red Knot will have flown four days and nights nonstop over the Atlantic Ocean from their wintering grounds in Chile and Argentina (some 18,000 miles every year) to their breeding grounds north of the Arctic circle in Canada and back. The Red Knot has only two weeks in which to double their weight.

Unfortunately, there has been a major decline in the horseshoe crab population (as well as the Red Knot) due to a quart of their blood selling for $15,000. The blood contains a compound called Limulus Amebocyte Lysate (LALO) that immediately clots around viruses, bacterial endotoxins and fungi. It is the equivalent of liquid gold for biomedicine. It is a $50 million dollar a year industry in the U.S. Serious money.

Diann Wilkinson

Tuesday, April 24, 2012

THE EPITOME OF BLISS

The Symphony Under the Stars, presented by the Hilton Head Symphony Orchestra, was over by the time the 44th RBC Heritage Presented by Boeing began on the Harbour Town Golf Links in Sea Pines.

The venerable golf tournament began with the usual boom of canon fire across Calibogue Sound, kicking off the pageantry and excitement long associated with the tournament. It brought some of the finest weather ever for this event: cool, fresh, gentle breezes, low humidity, no bugs, sparkling sunshine, the air touched by fragrances from blooming magnolia, gardenias, Sweet Ligustrum - the epitome of bliss on a subtropical barrier Island where 125,000 fans watched the pros play.

The Harbour Town course has long been known as a difficult test for players. Furman Bisher, an iconic sports editor for the Atlanta Journal, called the Harbour Town Golf Links "Purgatory with 18 holes." He wrote about the opening tournament in 1969, calling it "the last word in outdoor torture chambers. When you are in trouble here, you may be in need of last rites..it is likely to be one of the most talked-about golf courses in the world." The beloved sports writer passed away at the age of 93 in March 2012.

While 34 year old Swede Carl Pettersson focused on winning the Heritage by five strokes and a purse of $1,026,000, yachts glistened in the harbour, sailboats and motor launches dotted Calibogue Sound; many residents who live along the golf course hosted Heritage parties that featured gourmet edibles and open bars as flowers floated in swimming pools.

A highlight of the tournament was the thrill of seeing Boeing's sleek and gorgeous new 787 Dreamliner fly low over the 18th fairway, then turn its wings toward the sun and fly away, its GE and Rolls Royce engines as silent as a gliding raptor.

Despite golf tournaments and symphonies, commerce flowed on, causing great rejoicing in the real estate world as word spread: "The market is moving! The market is moving!" Excitement is palpable as the up-tick in sales continues and grows. The upper-end market is moving again; villa sales island-wide are up 21% with a 20% reduction in inventory. Three oceanfront homes in Sea Pines have sold in the past three months; the average price of a home in Sea Pines in March was $1,135,561 (this number is probably a bit skewed  by the oceanfront sales). Island-wide the average home price was $682,406 in March.

The National Association of Realtors (NAR) reported a surge in sales of investment and vacation homes in 2011, a trend that continues today. NAR says nearly half of all investors and 42% of vacation homebuyers were cash buyers who indicated they will use their home as a primary residence in the future. Rentals in our area are in great demand which makes a purchase even more inviting.

Wednesday, March 28, 2012

HILTON HEAD ISLAND - AN OASIS OF PEACE

     A world-traveling couple I sold a home to several years ago once called Hilton Head Island "a Garden of Eden - an oasis of peace."  They still travel the world but Hilton Head is home.

     Our barrier island has truly been a Garden of Eden this spring.  The whole area has erupted in masses of color from blooming azaleas, yellow Carolina Jasmine (the white Confederate Jasmine will come later), wisteria, dogwood - every imaginable variety of blooming plants, shrubs, trees and vines.

     As varied, colorful and interesting as the plants are the people who live here, have lived here, visit here, and are drawn to the natural beauty of the island.  One of my favorites is Mary Edna Fraser, a creative artist whom I've known since she began to take off in her career, a spirited girl who flew in her family's vintage 1947 propeller plane gathering inspiration from an aerial perspective for what would become her internationally recognized, stunning silk batiks.  That was before she had the first-ever one-woman exhibit at the Smithsonian Air and Space Museum.  She has exhibited all over the world.  She has been called an environmental artist and has a deep spiritual connection with nature and environmental concerns which are the focus of many of her large batiks. 

     The process used on silk batik is precise and complicated.  It is not for the faint of heart, nor is there room for error.  One mistake and the piece is ruined.  Currently Mary Edna is working on silk sails that are 21-feet tall!  This is a commissioned piece for a museum.

     Batik is a dye-resistant process in which removable wax is applied to fabric, creating areas that will repel dye, while any unwaxed areas will absorb dye.  This technique of dying textiles is a traditional craft in Malaysia, India, China, Egypt, Sri Lanka, Japan, Azerbaijan, Nigeria, Singapore, Senegal and Indonesia.   The word "batik" originated in Java, Indonesia where the process predates written records.

     She has collaborated on books with the highly regarded Orrin H. Pilkey, the James B. Duke Professor Emeritus of Geology at the Nicholas School of the Environment at Duke University in North Carolina.  He is an internationally recognized expert on the geology of barrier islands.  He and his son Keith's book, "Global Climate Change," accompanied by Mary Edna's stunning batiks, describes global change and its effects.  Another collaboration with Pilkey is "A Celebration of the World's Barrier Islands."  If you would enjoy seeing some beautiful, intricate work, go to : http://www.maryedna.com/.

     Our local real estate environment is incredibly attractive right now.  With stronger sales and a more limited inventory, interest rates are still low and we're seeing multiple offers being presented on various properties.  Sales are generally within 5-7% of the asking price.  The market is turning and when that happens inventory can go down very quickly and prices begin to edge up.  Closed sales are already up around 12% over this time last year.  There isn't as much product on the market as there was.  Have you missed the buyer's market?

     Diann Wilkinson

 

Sunday, February 26, 2012

AN ABSOLUTELY ALL-AMERICAN TENNIS CHAMPION

has lived on Hilton Head Island for most of his adult life.  He's the kind of American who makes you feel proud when you see him: tall, imposing, there is a certain aura of strength and purpose surrounding him.  You see it when he walks into a room - head and shoulders above everyone else.  His name is Stan Smith.

     He came to Hilton Head from California in 1971 at the invitation of Charles Fraser, the founder of Sea Pines, who wanted tennis to capture a more prominent position in the resort.  Except for a few years at Amelia Island he has been here ever since.  He dominated tennis in the early 1970s when he won the U.S. Open in 1971 and Wimbledon in 1972.  he represented the USA in the Davis Cup for 10 years, helping to win the coveted championship seven times.  He has been the Touring Pro for Sea Pines for 41 years!

     Over the years he has won 39 singles titles, 61 doubles crowns, was the number one player in the world in 1971 and 1972, and was the United States'top ranked player in 1969, 1971, 1972 and 1973.  He won the 35-and-over title at Wimbledon in 1984, 1985 and at the U.S. Open in 1984.  He won the 55-and-over title at the U.S. Open in 2002 and 2004.  He was the coach of the 2000 U.S. Olympic team in Sidney, australia and was inducted into the International Tennis Hall of Fame in 1986.  he was Director of Coaching for the USTA Player Development Program from 1986-1994 and was the Associate Director of Player Development from 1995-1998.  Stan and his wife Margie reside on Hilton Head and have four children.

     Part of the pleasure of living on Hilton Head is seeing such nationally and internationally recognized figures who blend into the community and contribute to it.  Some are just passing through.  In earlier days Jackie Gleason would be aboard his yacht, moored in Harbour Town for an island visit.  Each late afternoon he would appear, dressed in crisp white slacks, wearing a navy blazer, cocktail in hand taking a stroll around the quay.  He was a friendly fellow who enjoyed a short chat with anyone who recognized him.  Joseph E. Levine was a quieter type, not interested in socializing. 

     Gary Moore of television fame lived here then.  Occasionally his friend Walter Cronkite would moor his boat in Harbour Town.  Gary kept a small, one-man tugboat named "Little Toot" that he liked to ramble around Calibogue Sound in.  He was always agreeable to contributing to the community in any way that  he could.  He was a sweet person with a wonderful smile.

     ISLANDERS ARE GEARING UP FOR THE RBC HERITAGE which will be held April 9-15 at Harbour Town golf Links.  Five major PGA Tour winners have committed to play in the event: Ernie Els, John Daly, Padraig Harrington, Justin Leonard and Lee Jansen will join former Heritage winners Stewart Clink, Glen Day, Brian Gay, Jim Furyk, Boo Weekley and defending champ Brandt Snedeker.  The entire group will be shooting for a top prize of slightly more than $1 million from a total purse of $5.7 million.

     MORE REAL ESTATE SALES. . .We're seeing increasing interest in real estate.  Our real estate sales are the highest in the state of South Carolina.  Our area had the most improved real estate market in the state of South Carolina during 2011 with an increase of 9/4% over 2010 and a 15.4% increase in properties going under contract, which was more than double the rest of South Carolina's real estate regions.  People enjoy our relaxed, Lowcountry living.  A good selection and low interest rates are a perfect combination!

     Diann Wilkinson

   

Friday, January 20, 2012

SPRING CAME TO HILTON HEAD ISLAND IN JANUARY 2012.

     Spring came to Hilton Head Island in January of 2012 following a mild December.  Occasionally a light fog moved in from the ocean's up-welling, drifting over early budding shrubs and trees decorated with long, trailing beards of Spanish moss.  Sweet-smelling yellow Carolina Jessamine bloomed near tulip trees with velvety purple blossoms.

      The month before, US Airways Magazine featured a 24-page article promoting the art and cultural community on Hilton Head Island, creating  a surge of interest in the local arts community.  It is estimated that the magazine reached five million to six million travelers.  One immediate effect was a Hilton Head Symphony Orchestra concert selling out.  Normally Hilton Head is only associated with world class golf and tennis facilities and pristine beaches patrolled by seagulls and protectors of Loggerhead turtle nests.

     Steve Mitchem, vice-president and publisher of the magazine, said he was unaware of the area's artistic attributes prior to meeting with Chamber of Commerce delegates.  "I was amazed at the cultural diversity in the area," he said.  "I think that art and culture define the personality of a community, and I'm glad we could show more of what that area has to offer."  About this time two angels, Dottie and Fred Beard of Sea Pines, underwrote dance performances at the Arts Center of Coastal Carolina on Hilton Head Island for the next five years.  The dance series kicked off with a presentation of the Pittsburgh Ballet Theatre.

     The Beards first moved to the Carolina Lowcountry part-time in 2002.  Fred has served on the board of trustees for the past five years, currently as vice-chairman; Dottie has volunteered her support on many arts center programs and events, including last year's "Behind the Scenes" costume sale.  Fred is former chairman, president and chief executive officer of Mellon Bank in Pittsburgh.

     Excitement is building for the 43rd Heritage in April, which has new sponsors: the  Royal Bank of Canada (RBC) and Boeing.  The Harbour Town Golf Links, ranked #2 most favorite course by PGA TOUR pros will be the usual venerable site.  Some changes are on the planning board, involving Pete Dye.  The changes will include moving and reshaping the 5th green.  Homes, villas and hotels on and off-island are already being booked for the event.  Harbour Town is included in Golf Magazine's 50 Greatest Courses of the last 50 years; Harbour Town Golf Links Pro Shop is ranked as one of the Top 100 Best Golf Shops by Golf World.  Conde Nast Traveler's has placed Sea Pines Resort in their Top 150 U.S. Resorts.  Harbour Town offers a total world-class experience from start to finish.

     The elegant Inn at Harbour Town's Four-Star rating has been renewed by Forbes Travel Guide.  The Inn recently underwent a $3,000,000 renovation.  Only a short stroll to the harbour, unique shops (ladies, don't miss S.M. Bradford on the harbour for lovely clothes), restaurants and "yacht-watching", it is a favorite of many who appreciate a fine lodging experience.  For Inn reservations or for homes or villas, call: 800-732-7463.

      The Hilton Head Island area had the most improved real estate market in the state last year, according to a report that has been released this month by S.C. Realtors.  Low interest rates are thought to be contributing to a turnaround in the housing market.  Historically, low interest rates are among the signs that point to a pickup in the housing market.

     Money is beginning to flow back into our market as buyers take advantage not only of low interest rates but exciting opportunities provided by a large and diverse selection of properties, the only asset class that entices when banks offer virtually nothing and stocks slide down, occasionally up.  We're seeing cash buyers now.  Everyone is looking forward to even more of an up-tick in sales in 2012.

(To read Diann's December post about living on an island, go to the Archives.)

    

Monday, December 19, 2011

The Way It Is on Hilton Head Island, South Carolina

Not long ago, a reporter called from Bloomberg News. He had a few questions about real estate on Hilton Head Island. His first question was: "Why are people drawn to Hilton Head?"

Having lived in Sea Pines by the beach for 43 years, my response was: "The natural beauty of the Island is the big draw, not just world-class golf, tennis facilities or miles of beach. We live in a unique environment with a subtropical climate where it is green all year long. We seldom see snow but see a lot of wildlife. When you live on an Island, you live close to nature. Outside of the study by my house, there is a "deer walk". It is a path that the human eye cannot see. Deer have been traveling that path for as long as I can remember. They stroll over fallen pine needles, next to a tall hedge of bamboo. The limbs of a large oak tree shelter part of the path. A few weeks ago, I went into the study to check e-mail and two young fawns all covered with spots were passing by. The mother must have gone ahead because I did not see her. One year a tiny, baby fawn was curled up outside of the dining room window (there are long windows in this house). The sight was like seeing  a small miracle.

At certain times of the year, late in the afternoon, the woods are back lit by the sun. It makes long, trailing Spanish moss look almost translucent. The forest areas appear to be on fire. I've seen Calibogue Sound with the sun setting over Daufuskie Island, turning the sound into a river of gold. It is an unusual visual effect. In the fall, yellow ditch daisies bloom alongside rural roads. That is when thousands of butterflies are migrating to South America and spend some time here. If you are taking a walk on the beach in our balmy air, wearing a bathing suit, one might alight on your shoulder. It feels like being brushed by an angel's wing. Occasionally at night, the mournful sound of a foghorn from a passing container ship can be heard from the ocean, a ship from foreign lands making its way to port in Savannah.

These are the things that draw people to Hilton Head, people who greatly appreciate the natural beauty and quality of life found here. This is what I told the reporter from Bloomberg News.
Diann Wilkinson