The announcement was made during a news conference at Hilton Head Island that included South Carolina Governor Nikki Haley and PGA TOUR Commissioner Tim Finchem.

“This is a great day in South Carolina, and we’re going to celebrate,” said Gov. Haley. “We said from day one that finding a private sponsor for The Heritage was one of this administration’s top priorities because the tournament is an opportunity for us to showcase our state as one of this country’s premier destinations for business and tourists and that we shouldn’t rely on taxpayers to foot the bill.”

The RBC Heritage, which for 2012 will return to its traditional week in April immediately following the Masters Tournament, has been an important element of South Carolina’s culture and economy since 1969, when it debuted at the Pete Dye-designed Harbour Town Golf Links.

The tournament generates more than $1 million for charity each year and brings worldwide exposure to Hilton Head Island and the state of South Carolina through telecasts and media coverage. A 2010 study conducted by Clemson University shows the tournament has an annual economic impact of approximately $82 million.

“We are delighted that RBC, already a great partner of the PGA TOUR as title sponsor of the RBC Canadian Open, has made this significant commitment to secure The Heritage’s future,” said PGA TOUR Commissioner Tim Finchem. “I know today’s announcement is welcome news to everyone who has been involved with and supported the tournament. We are also very appreciative of Boeing’s significant support as the event’s presenting sponsor.

“In addition to being a favorite among our players, the RBC Heritage has had a tremendous economic and charitable impact, thanks in large part to the efforts of the Heritage Classic Foundation,” Finchem continued. “On behalf of the PGA TOUR, I’d also like to extend our deepest appreciation for the leadership and incredible support provided by Gov. Haley, Sen. Lindsey Graham and Rep. James Clyburn and other state officials throughout this process to help secure the future of this great tournament.”

“RBC is excited to become title sponsor of this classic tournament that will provide a unique opportunity to associate our brand with one of the PGA TOUR’s most liked and well attended tournaments in North America,” said Jim Little, Chief Brand and Communications Officer, RBC. “We are very committed to building our brand and serving our growing client base in the U.S. and the RBC Heritage provides very attractive opportunities for our U.S. businesses to reach target markets and foster new business development.”

As part of the five-year sponsorship deal, RBC will leverage the U.S. network television opportunities to promote its wealth management, private banking and capital markets businesses to a coveted client demographic. RBC also believes in giving back to important charitable causes in communities in which it does business. Through this new agreement, RBC and the Heritage Classic Foundation will inject millions of dollars into the economy and to charitable organizations within South Carolina, starting in 2012.

The tournament had been seeking sponsorship since Verizon ended 24 years of sponsorship following the 2010 tournament.

“We are truly grateful that we can celebrate the long-term future of our beloved tournament through the generous commitment of RBC as our new title sponsor, as well as The Boeing Company as our local presenting sponsor,” said Simon Fraser, Chairman of the Heritage Classic Foundation. “We have weathered a very difficult time of uncertainty and speculation, but now can definitively say that the RBC Heritage will remain an important part of the PGA TOUR and our state, and will continue to generate millions of dollars for our economy and for charities in the years to come.”

“Boeing is delighted to become a part of a prestigious event with such a rich history and positive impact on the region,” said Jim Albaugh, President and CEO of Boeing Commercial Airplanes. “We’re especially pleased that the RBC Heritage will generate more than $1 million each year in support of South Carolina charities. Boeing is committed to making a difference in the communities where we work and live, and this is just one way we can demonstrate that commitment.”

Contested on a golf course that has been a favorite among PGA TOUR players, the RBC Heritage has a stellar list of past champions, including a number of World Golf Hall of Fame members: Arnold Palmer, Jack Nicklaus, Tom Watson, Hale Irwin, Johnny Miller, Greg Norman, Nick Faldo, Nick Price, Bernhard Langer, Hubert Green and the late Payne Stewart.

This year, Brandt Snedeker succeeded 2010 champion and Team RBC ambassador Jim Furyk by defeating Luke Donald on the third playoff hole.

Schedule of Events

Wise Guys, Hilton Head Island
1513 Main St.
Hilton Head Island, SC 29926
843.842.8866
wiseguyshhi.com

Yesterday was as spectacular as we expected.    Thousands of people lined the waters edge for about a half a mile and another line of people thirty yards closer to the dune line.  During a 3 hour period the horses raced two at a time.  Twenty-one  races were held between the rows of fans.  The first 20 were to determine the fastest mare, geldings and stallions.  The last race was between the three winners.  A 22 year old mare named Molly was the big winner.

Marsh Tacky horses were originally brought to Hilton Head Island and Bluffton from Spain as work horses for their “horse power” in swampy marshy areas in the 1500′s. Today they are almost extinct.  Tomorrow they are racing on our white sandy beaches.  Please click on this link to learn more about the Marsh Tacky.

February 27, 2011 – Hilton Head Island, SC

Third Annual Marsh Tacky Beach Races Coligny Beach – 11:00 AM – 3:00 PM 
Grab your cameras and join us on Sunday, February 27th for the Third Annual Marsh Tacky Beach Races!  We have 20 horses running this year. Several of our previous winners will be back as well as some newcomers.  It’s sure to be an exciting race!  Hope to see you there!
Sponsored by the Carolina Marsh Tacky Association, Native Islander Gullah Celebration, American Livestock Breeds Conservancy, and Coastal Discovery Museum.

 provided by SC REALTORS® in cooperation with the Multiple Listing Service of Hilton Head.

Quick Facts January 2010 compared to January 2011

Closed Sales up 6.4%, Median Sales Price up 8.2%, Inventory down 12.5%

A house.  It’s the single largest investment most families make.  It’s where we rest our heads every night. Houses represent the brick and mortar that comprise the very communities in which we live.  They provide us with a sense of place to extend our roots downward.  We raise our families under the safety and warmth of their rooftops.  Our houses become homes.  Let’s analyze these structures that are so much more than that, and let’s take a look at how our home market began 2011.  Pending Sales in the Hilton Head region increased 33.5 percent since January 2010 to 247 agreements signed.  New Listing activity decreased 12.6 percent, which means sellers placed 394 new homes on the market.   At this rate, they should expect their properties to sell after approximately 133 days. Prices climbed upward.  Median Sales Price increased 8.2 percent over last January to $250,000.  Negotiations moved toward buyers as Percent of List Price Received at Sale decreased to 92.8 percent.  Months Supply of Inventory decreased 24.7 percent to 13.3 months. Interest rates are expected to remain around 5.0 percent and prices are expected to rise gradually in many markets.  Although the labor department reported that the seasonally-adjusted unemployment rate dropped to 9.0 percent in January, expect joblessness to remain an issue.  There’s a steep,  jagged rock face behind us; ahead lies a gently inclined grassy plain. 

 Please click on the following links to view the detailed reports.

January Monthly Indicators – Detailed ReportJanuary Monthly Housing Outlook – Detailed Report

Published Monday, February 21, 2011 The Island Packet By Stacey Studley Collins

 The number of vacation home sales in resort communities across Beaufort County rebounded last year, driven by deeply discounted prices, cash purchases and slow but growing confidence in the market, local real estate industry experts say.

 Sales statistics reflect a 13.6 percent increase in total number of real property sales in 2010 compared to 2009 on Hilton Head Island, where many properties are vacation homes. On Jan. 10, The Wall Street Journal mentioned Hilton Head as a star performer in an article about the rise in vacation home sales in many markets nationwide. The upturn is making local real estate agents cautiously optimistic about a recovery. 

Home inventory levels are beginning to drop, and the absorption rate of homes is improving after dropping precipitously over the past several years.  Both of these trends should help stabilize prices.

 Data show fewer active listings in southern Beaufort County compared to 2009, making the market more competitive. At press time there were 818 homes listed for sale, which at current absorption rates equals about 15.7 months of inventory. Homes that cost less than $499,000 might see some price increases later this year, in part because many baby boomers are delaying retirement but still want to own a more modest second residence in a coastal area.

 While some second homes have languished on the market because sellers’ price expectations were too high, data suggest this might be changing. In general, sellers received about 92 to 93 percent of their asking prices last year, which is an improvement over 2009 when double-digit discounts were common.

 Prices are down almost a third over the past five years. The financing is very difficult. Banks are requiring up to 25 percent down and crystal clean credit.

At the peak of the market, rentals didn’t come close to covering costs (of having a second home.

At today’s prices, vacation rental income still doesn’t translate into a positive cash flow, but it comes much closer, making second home properties much more attractive.

 Prices for less expensive condos (under about $163,000) will see their bottom and start to rise in 2011, as buyers wanting to purchase short term rental properties look for the lowest price point possible to get into the market.

Sun City Hilton Head, an affordable community where some buyers purchase homes years before they’re ready to permanently move to The Lowcountry, had a 21 percent increase in sales last year.

 Increasing demand also was behind Hampton Lake’s decision to offer a fractional luxury home ownership option at the greater Bluffton community.

 “The desire to own a second home in our area is still high, but with financing difficulties and tighter budgets, they saw a need to offer a more sensible, practical way for people to enter the vacation market,” said Rob Barber, project director at Hampton Lake’s fractional ownership neighborhood called The Sanctuary.

WHAT’S IN STORE THIS YEAR? Will this improvement continue in The Lowcountry in 2011? Some local agents say yes.

 People still want to retire here and now is a great time to buy given the marked correction in pricing. Basically, they missed the run up several years ago and are not willing to risk waiting, even if they’re not ready to relocate.

Apple-Spinach Salad 

Note: Dressing may be chilled up to 1 day; shake well before serving.

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From the kitchen of Donna & Bruce Winter – Hilton Head Island

Many friends and clients have asked us to share recipes.  We will continue to add our favorites here for your enjoyment.  When you or someone you know think of Real Estate on Hilton Head Island or in Bluffton please contact us. 843-298-0676 or Donna@DonnaWinter.com

LowCountry real estate market shows signs of recovery

By JOSH McCANN  – Island Packet Published Sunday, February 6, 2011

The real estate business chugged toward recovery last year in both the Hilton Head Island and Beaufort areas, according to statistics and Realtors.

Home, condo and villa sales increased 16.1 percent to 2,486 in the Hilton Head area and by 21.7 percent to 963 in the Beaufort area compared to 2009, the South Carolina Realtors recently reported.

The increasing local sales volume has area Realtors encouraged the recession’s effects are receding from South Carolina’s coast.

Even though prices remain depressed and many sales these days occur as a result of a foreclosure or with one looming, any sales are welcome after the national economic downturn, said Island Realty’s Todd McDaniel, 2010 president of the Beaufort County Association of Realtors.

“At least they’re transactions,” he said.

Beaufort’s median sales price of $175,000 was down 6.4 percent from 2009 and 23.5 percent from 2006.

Hilton Head’s median sales price of $234,900 was down 11.7 percent from 2009 and 34.8 percent from 2006.

Those numbers are good news for buyers, many of whom are seeing steep discounts from the peak of the county’s building boom and are snapping up bargains before the best deals disappear and interest rates rise, said Charter I Realty & Marketing’s Charles Sampson, 2010 president of the Hilton Head Area Association of Realtors.

“Who doesn’t love a sale?” he asked.

Low prices aren’t good for sellers, but as the number of available homes decreases, there should be less competition on the market, Sampson said.

He estimated fewer than 100 homes are for sale in Hilton Head Plantation, for example. That’s down from 175 or so at times during the recession’s peak, he said.

Donna & I have had a very good January and February is starting off well.  If you have any intentions of buying,  The Time is Now.  We still have good inventory at very low prices to go with outstanding interest rates.