Bluffton: why so many new homes for sale?

[geezerman7]

GJ..

you are absolutely right....plus....my gut instinct/intuition tells me that, incrementally, several of the private/exclusive courses will "open" up to the public...albeit to a limited degree...to generate revenue in a brutal economy.

so why pay $13K - 18K a year (berkeley hall to colleton range) and then have the opportunity to play other nice courses regularly.

listen...we all know that 25% of the people at colleton/berkeley don't give a hoot about the $20K they spend at their clubs...and god bless 'em...but a sizable percentage of the population at these communities do care...and they are your occasional marginal/distressed sellers...and they are setting prices!

real estate brokers call them "comps" when prices are going up....but flukes and abberations when prices are going down.

[GJBenn85]

Originally Posted by geezerman7

real estate brokers call them "comps" when prices are going up....but flukes and abberations when prices are going down.

Realtors seem to forget that the market is what sets the values, not appraisals or their 'professional' opinions.

There is a house in Spanish Wells that started out at $16,000,000 and it is now priced at just over $8mm. After a couple of years on the market, poor RE sales, and taking into consideration you literally drive through Hilton Head's slums just to reach the neighborhood, you would think the owner and realtor would be a bit more realistic. What 'comps' do you suppose they used to originally price the house, given it was the most expensive on the island? And what flukes do you suppose they attribute to having to drop the price 50% yet it still has not sold?