We live in an ever changing world that is becoming more global every day. All you have to do is look around you; whether on vacation, at the grocery store or anywhere else, and you will see and hear more people than ever before from other countries. This is particularly evident in upscale areas; i.e. Hilton Head Island.

The NAR (National Association of Realtors) has conducted a survey every year since 2009 that consists of approximately 200,000 Realtors in an attempt to analyze foreign purchasers. Some of their findings may surprise you.

• Over a twelve month span from April 2014 through April 2015, 209,000 houses have been purchased by foreigners.
  
• These 209,000 purchases equate to $104 Billion (13% more than the prior year), about 8% of the total home sales in the US.
  
• With an average purchase price of more than $500,000 it is almost double that of the average domestic buyer ($256,000).
  
• Of the 172,000+ Ultra-High Net-Worth Individuals (according to Knight Frank 2015 Wealth Report), 35% are from Europe (UK, Germany, France, Italy, etc.), 26% from North America (90% from the US) and 24.5% from Asia (China, Japan, Hong Kong, Singapore, etc.)
  
• US real estate became much more expensive over the referenced period in large part because of the gains the dollar has made on foreign currencies; 30% on the Euro, 19% on the Canadian dollar, and 16.5% on the Brits pound.
  
• Even with this increase Hilton Head Island real estate is appealing. If you look at the average price of a 1300 square foot condominium around the planet, you will find HIlton Head Island to be a bargain at an average of $232K . Comparatively, a condo of this size in Paris is $4M+ (based on a May 29 download of the global data), New York is $1.6M+, San Francisco $600K, Los Angeles $375K and Boston $331K.
  
• Chinese buyers are purchasing more than any other group, both foreign and domestic, especially in the high end market with an average price of $831K.
  
• The volume of purchases from China ($28 Billion) is 4x what it was in 2011.
  

Knowing this information brings to light different things for buyers and sellers. For buyers it shows globalization is playing a vital role in limiting the housing supply and increasing demand which we know from Econ 101 is a recipe for increasing prices. The effect it has on today's buyers is if you have been procrastinating buying now or waiting until later you could very well miss the window of opportunity. Waiting until later, or the proverbial "It will happen when it's meant to happen" could wind up costing you considerably more money due to more buyers entering the market, decreased inventory and rising prices. The property you looked at in the spring for $400K might cost you $440K this fall or next spring. Take into account interest rates are not going down anytime soon and the total cost to you could be more than stated above.

For anyone considering listing their home one of the elements you strive for is WOW Factor. What is WOW Factor? It's that jaw dropping feeling buyers get when they walk through your home. They are so captivated and enamored by your home that the emotion of them owning such a beautiful home is overwhelming and it immediately moves yours to the top of their list. However, achieving WOW Factor can be difficult for some which is why Pete Popovich and his real estate team do all we can do help you in every aspect of selling your property. Below is from a recent QnA with Leslie Devine, from 'House of Design', on some simple things you can do to get that oh so precious WOW Factor with your home.

PNP: What is 'staging' your home?
LD: Utilizing the existing space so the potential lbuyer can imagine themselves living there. Making them feel warm and comfortable in the space. You know, the WOW Factor.

PNP: What are the top 3 things a seller can do to spruce up their home prior to putting it on the market?
LD: 1) A fresh coat of paint - keep it light and bright. 2) Allow natural light to come in by removing outdated and heavy window treatments. 3) Have proper vignettes: i.e. furniture placement.

PNP: What is the difference between staging and updating?
LD: Staging utilizes what is in the home and maximizing space. This could be as simple as rearranging furniture or adding pillows. Updating is changing or modifying what is there. It can be as small as new hardware on cabinets - refinishing cabinets and replacing appliances - remodeling a kitchen or bathroom.

PNP: What are the top 3 things someone can do when preparing their home for sale?
LD: 1) De-clutter - clear items off counter tops, put personal belongings away. You would be surprised at the difference this makes. 2) Depersonalize - remove family photos or anything that makes a potential buyer think they are in someone else's home. Remember you want them to feel warm and comfortable as if they are in their home. 3) Clean and straighten up - There is nothing like a first impression. If a potential buyer walks into your home and the first thing they see is a mess that might become a hurdle they cannot get over. If someone can't keep their home clean buyers question how well the home was maintained.

PNP: What is the easiest thing someone wanting to make their home look more appealing can do?
LD: Don't be afraid to ask a professional for help. It could be the difference in the home selling now or a year from now.