Hurricane Dorian appears to be headed East. YEA! And we had no real damage. Our Labor Day weekend it looks like a beautiful sunny one, although...Labor Day weekends have historically never been a great time to visit Hilton Head Island! Not like Memorial Day weekend.
Housing shortages. We all see it. Kiplinger makes mention that starter homes are basically no more. Builders since the Great Recession have not filtered back strongly (especially not into smaller homes). Mostly into large custom homes usually built for contract, so...young home buyers haven't been so lucky in the past few years. Now this is changing. Smaller homes on smaller lots enable young adults to purchase and live in a home that’s somewhat affordable. There are also states that are suing towns to allow for apartments. The first thing I ever bought freestanding, was a house with an apartment. After 5 years that apartment was paying my entire mortgage.
The Town of Hilton Head has no real apartments. There are people here who want to rent, who aren’t just transient workers.
People are signing 3 year leases on the new complex at Shelter Cove. Some are renting for $5,000 per month! And the only reason that complex is renting is because they couldn’t make enough money selling them. The owners will have to wait. The reason that the Christian Academy deal went through by Town Council vote, for 260 apartments. was not so much that there are 13 “lower cost” rentals set aside for workers, but that apartments for a time frame of 20 years (which is what has been promised) is something that is necessary.
People can’t rent a place with any assurance the owner won’t up and sell the place in a year or two. Or go into foreclosure. A landlord has as much to prove to a tenant these days as a tenant does to a landlord, it seems.
Our inexpensive rentals are also in areas not desired by non-transients. People who are well-to-do financially, and want to rent, and hope to have a place to rent in the future, are in sad shape. Please let me hear your thoughts on this. I have always been about home ownership for that very reason, but some just don’t want the obligations.
A couple of things that I’ve learned from this ill-fated trip of mine is that we are definitely stewards of this earth...
In a small recessed triangle of the Congo, Uganda and Rwanda, the beautiful tribes of Mountain Gorillas are dwindling. There are only between 800 to 950 Mountain Gorillas left, and they can only live in this mountainous Virunga crater area, near the Congo Basin. Interestingly, those who used to poach gorillas are now porters - thanks to Dian Fossey and her helpers. And even though they are supposed to be increasing, they won't, based on cell phones, of all things.
There is a small something that we can do, however, to help her organization save more of them.
The mining of Coltanis done only in this area. As it is mined, it uses up land that these gorillas live on. Even though their donated funds try to buy up land, the mining of Coltan feeds the cell phone industry. Your old cell phones can help the Silverback population.
The second thing I learned was how wonderful the people of Uganda and Rwanda are. I spent 7 days in their hospital in Kigali with a double ankle fracture, and have come to love these people. They were honest and happy people, religious and fun-loving. For the first time I was in a country where I really could not speak their language one iota. Thank goodness at least the doctors spoke English and were good.
We all had loads of fun when I needed the nurses to help me wash my hair, too. Sickly, limp hair, so unlike their own. Some odd things we never think about.
Many thanks to Melissa R. for Z. Morris, Realtor Mary P. for Mike and Annette G. And past client Michele P. for Jesse K., Homes.com for Robert F. These were great referrals, everyone. And thanks, too, for all those who have returned to me from previous years. (And to Bob and Cheryl Z., for reading my newsletter since the 90's and calling for real estate assistance!) All of it is so appreciated!
Have a great Labor Day weekend, soggy or not, and see you at the beach some day very soon!
Berkshire Hathaway Home Services
Hilton Head Realty
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