HOUSING TAX CREDIT UPDATE AND STIMULUS

To obtain the credit of $8,000 on you must purchase by April 30, 2010 and close by June  30,2010 . BUT...that's not the biggest news...this is...According to Lawrence Yun, the chief economist for the National Association of Realtors, this legislation is going to bring 300,000 new homebuyers into the market; and for each one of those new homebuyers, two additional sales will be created down the line due to move up purchases.  That means close to a million homes (900,000) are going to be sold as a result of this legislation. The Housing Tax Credit is VERY BIG news.  To give you some idea how big this is, let's put it into perspective.  What's dominated the housing news in the last several months?  Foreclosures and their impact on the market, right?  Since August of 2007 the total number of foreclosures has been 1,081,395.  The Housing Tax Credit will create close to 1 million home sales.  That's almost as large as the entire foreclosure problem to date...only this is good news, not bad!

MARKET ACTIVITY REPORT HILTON HEAD & BLUFFTON
Homes Sales
	YTD 2008				Compare YTD 2007				Compare YTD 2006
Plantation	# Sold	Ave. Sales Price	% of Sale to List	Ave. Days on Mkt.	# Sold	Ave. Sales Price	% of Sale to List	Ave. Days on Mkt.	Ave. Sales Price	Ave. Day on Mkt.
Sea Pines	137	$1,016,930	91%	162	167	$1,583,962	93%	144	$1,234,565	64
Forest Beach	19	$1,275,486	87%	237	17	$2,138,147	90%	240	$1,648,165	115
Shipyard	3	$567,000	93%	283	11	$ 553,059	94%	109	$ 578,400	39
Wexford	19	$1,676,710	93%	168	17	$1,896,000	93%	73	$1,395,383	124
Long Cove	20	$876,621	92%	181	24	$ 965,812	94%	124	$ 714,320	126
Palmetto Dunes/ Shelter Cove	40	$1,263,497	92%	214	45	$1,267,361	93%	171	$1,609,918	111
Port Royal	31	$890,806	92%	157	41	$ 862,329	93%	126	$ 937,799	64
Hilton Head Plantation	147	$540,920	93%	118	204	$ 577,035	95%	89	$ 558,034	51
Palmetto Hall	21	$623,455	92%	191	24	$ 706,408	96%	86	$ 640,559	104
Indigo Run	26	$769,036	94%	168	44	$ 943,897	94%	138	$ 758,546	95
Spanish Wells	7	$1,391,428	94%	108	8	$2,526,000	94%	141	$1,574,894	142
Windmill Harbour	16	$891,279	91%	173	19	$1,100,223	91%	131	$ 886,343	139
HHI Off Plantation	47	$546,675	92%	180	66	$ 430,215	96%	124	$ 545,891	61
Daufuskie Island	12	$845,416	92%	201	12	$ 701,500	91%	199	$ 681,560	241
Bluffton Off Plantation	427	$255,293	95%	115	541	$ 277,643	96%	99	$ 251,447	73
Moss Creek	34	$438,720	93%	108	43	$ 482,834	95%	101	$ 428,037	81
Colleton River	10	$1,292,200	92%	206	14	$1,221,142	91%	179
Belfair	24	$769,593	94%	221	31	$ 760,241	95%	198	$ 776,481	191
Rose Hill	35	$381,017	93%	173	33	$ 423,986	96%	142	$ 380,321	71
Berkeley Hall	9	$926,403	91%	278	12	$ 1,027,729	96%	182	$1,119,444	140
Sun City	246	$236,797	94%	99	229	$ 269,710	95.18%	79	$ 240,750	56

LOCAL MARKET ACTIVITY REPORT
Villa Sales
	YTD 2008				Compare YTD 2007				Compare YTD 2006
Plantation	# Sold	Ave. Sales Price	% of Sale to List	Ave. Days on Mkt.	# Sold	Average Sales Price	% of Sale to List	Ave. Days on Mkt.	Average Sales Price	Ave. Days on Mkt.
Sea Pines	60	$656,494	94%	164	81	$588,819	94%	135	$554,106	30
Forest Beach	81	$315,372	93%	141	94	$321,389	93%	150	$301,450	31
Shipyard	45	$344,428	93%	169	57	$408,824	94%	156	$418,206	41
Palmetto Dunes/ Shelter Cove	114	$619,230	92%	205	126	$664,114	94%	147	$606,300	51
Folly Field	62	$223,142	93%	168	64	$241,802	93%	144	$297,686	35
Hilton Head Plantation	16	$456,875	93%	166	15	$557,833	94%	109	$566,648	135
Indigo Run	4	$425,625	96%	92	3	$426,666	96%	46	$426,785	110
Windmill Harbour	5	$337,000	95%	204	4	$396,125	93%	156	$541,800	112
HHI-Off Plantation	86	$175,591	93%	139	175	$195,277	94%	98	$175,117	60
Daufuskie Island	4	$580,000	93%	164	6	$655,500	96%	179	$360,357	208
Bluffton-Off Plantation	25	$110,672	94%	161	51	$144,621	94%	104	$151,146	17
Moss Creek	4	$211,225	94%	147	1	$272,000	91%	33	$170,333	96