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A
Good
morning,
I'm
bill
miles
with
the
hilton
head
island,
bluffton
chamber
of
commerce,
and
we're
so
glad
that
you
could
tune
in
and
be
with
us
this
morning.
Well
labor
day
weekend
is
now
in
the
books.
It
officially
is
the
summer
season
and
turned
out
to
be
a
really
really
good
summer
season
for
for
all
of
not
only
hilton
head
island,
but
really
the
entire
region-
and
I
hope,
labor
day
was
good
for
you
and
got
a
chance
to
take
a
day
off
and
enjoy
some
some
r
r,
also
college
football.
A
You
know
it's
a
busy
time
of
year
for
us
here
at
the
chamber,
and
one
thing
I
want
you
to
pay
particularly
attention
to
is
that
of
state
of
the
region,
you're
going
to
be
hearing
more
of
state
of
the
region
and
the
date
that
that's
going
to
be
who
our
speakers
are,
will
be?
Releasing
soon,
we
know
that,
certainly
our
our
local
mayors
and
chair
of
county
council
will
be
along
alongside
of
us,
making
state
of
the
region.
Another
exciting
event
for
us.
A
You
know
many
factors
are
going
to
play
into
the
decision
that
comes
to
us
in
november,
and
we
know
that
people
we've
been
hearing
a
lot
about
high
gas
prices,
inflation,
workforce
challenges
and
many
other
things,
and
so
with
those
challenges
that
we're
all
facing.
We
thought
today
would
be
good
to
hear
from
the
economist,
our
chief
economist,
dr
joy
von
nessen,
and
he
joey
dr
vanessa,
is
with
the
darla
moore
school
of
business.
A
He's
a
gentleman
that
certainly
is
no
stranger
to
south
carolina's
than
is,
is
working
on
projects
or
has
worked
on
projects
from
from
bmw
to
sono,
sonico,
michelin,
boeing,
I
believe,
and
and
many
others,
dr
vaughn
essen.
Thank
you
for
being
with
us
today.
It's
great
to
see
you
and
we
look
forward
to
hearing
what's
in
the
future,.
B
Now
that,
as
bill
mentioned,
we
are,
you
know
rapidly
approaching
the
fall
months
and
and
the
end
of
summer,
of
course,
with
with
labor
day
now
behind
us
and
what,
where?
What
are
we
seeing
right
now
with
with
respect
to
our
economic
outlook
for
the
rest
of
this
year
and
into
2023?
So
just
want
to
share
a
few
brief
comments
with
you
this
morning.
B
B
B
We
we've
seen
a
strong
labor
market
persist
throughout
the
summer
of
2022
and
in
fact,
into
september,
where
we
are
today
so
the
labor
market.
If
we
look
at
the
unemployment
rate
in
south
carolina
still
at
a
historic
low
at
3.2
percent,
we
have
more
people
working
in
south
carolina
today
than
we've
ever
had.
Unemployment
is
still
low
at
the
national
level
3.7
and
in
in
beaufort
county
in
the
surrounding
hilton
head
area
at
3.0
percent.
B
Now
that
has
persisted
throughout
2022,
we
still
see
high
inflation
today,
the
headline
number,
of
course,
8.5
percent,
the
most
recent
estimate
of
our
year-over-year
inflation
estimate,
and
that
basically
means
that
we
are
still
facing
a
trade-off
between
high
inflation
and
high
interest
rates.
So
if
we
think
about
it,
we
can
go
down
two
potential
paths
as
we
look
forward.
B
One
is
if
we
continue
to
see
high
inflation
that
continues
to
erode
the
purchasing
power
of
most
americans,
including
south
carolinians,
we've
seen
over
the
past
year,
inflation
be
far
higher
than
than
wage
growth.
So
that's
limiting
the
amount
of
consumer
spending
for
individuals
because
it
is
cutting
into
their
purchasing
power
and
that's
going
to
limit
economic
activity
as
we
move
forward.
B
B
The
fed
has
been
very
clear
that
that
is
their
number
one
priority:
getting
inflation
under
control
we've
seen
four
interest
rate
hikes
already
in
2022,
and
we
are
very
likely
to
see
more
at
least
two
more
rate
hikes
in
2022
and
again,
the
federal
reserve
has
been
extremely
clear
that
they
are
going
to
continue
to
be
aggressive
with
respect
to
raising
interest
rates
further
until
we
see
a
meaningful
decline
in
inflation.
Those
are
those
are
words
coming
straight
from
the
fed,
a
meaningful
decline
in
inflation.
B
B
Why
has
the
labor
market
been
strong
throughout
2022
in
the
face
of
a
face
of
of
rising
interest
rates,
and
the
answer
to
that
is
that
consumer
spending
also
remains
strong
in
2022
and
it's
still
at
its
pre
pre-recession
growth
rates,
and
that's
because
we
have
seen
throughout
2020
and
2021
a
rapid
recovery
of
the
labor
market.
So
people
have
been
earning
wages
and
spending
them
and,
secondly,
the
six
trillion
dollar
stimulus
package,
which
provided
stimulus,
checks.
B
It
provided
enhanced
unemployment
insurance
benefits,
as
well
as
a
number
of
tax
credits
and
collectively,
when
you
see
a
rapid
labor
market
recovery.
Coupled
with
this
federal
stimulus,
that's
put
a
lot
of
cash
into
consumers,
pockets
and,
in
fact,
the
average
balance
sheet
for
american
households,
or
rather
the
the
checking
account
balance
average
is
still
about
30
percent
higher
today
for
the
average
american
household
than
it
was
before.
The
pandemic
began
in
2019
because
of
again
because
of
stimulus
and
the
rapid
recovery
of
of
the
labor
market.
B
And
so
that
means
that
consumers
are
in
a
better
position
today
to
be
able
to
weather
this
eroding
purchasing
power
that
they
are
experiencing.
Because
of
high
inflation,
so
despite
the
fact
that
that
inflation
has
persisted,
consumers
have
continued
to
spend
and
we
see
that
in
the
data
where
consumer
spending
rates,
the
growth
rate
of
consumer
spending
has
still
been
on
par
with
what
we
saw
back
in
2018
and
2019
before
the
pandemic
began.
B
But
that's
not
going
to
last
forever.
Even
though
these
checking
account
balances
are
elevated,
they
are
moving
in
a
downward
direction
and
we
see
projections
of
between
three
and
six
months
before
these
household
account
balances,
get
back
to
levels
that
are
equivalent
to
where
they
were
before
the
pandemic
began.
And
once
that
happens,
we
are
more
likely
to
see
a
pullback
in
in
the
labor
market
again,
as
consumer
spending
starts
to
to
pull
back,
that's
going
to
have
an
effect
on
demand
for
most
industries
and
then
in
accompanying.
B
B
So
to
wrap
up.
Then
a
couple
of
other
metrics-
I
just
want
to
alert
you
to
to
be
on
the
lookout
for
as
to
when
we
can
expect
or
when
we
are
likely
seeing
a
a
pullback
overall.
What
do
you
need
to
be
on
the
lookout
for
in
the
coming
months
to
assess
whether
we
are
going
to
see
and
when
we're
going
to
see
a
pullback
three
three
primary
metrics
to
keep
your
eye
on
number?
B
One
is
the
job
openings
rate,
and
this
is
just
defined
as
the
percentage
of
jobs
currently
open
and
unfilled
in
the
u.s
economy
and
right
now,
the
job
openings
rate
is
significantly
higher
than
where
it
normally
is.
Given
our
unemployment
rate
of
about
three
and
a
half
percent
for
the
us
as
a
whole.
B
So
as
the
job
openings
rate
comes
down
when
it
begins
to
come
down,
that
means
that
employers
are
not
looking
to
hire
as
much
and
and
that's
a
sign
that
the
labor
market
is
cooling
because
we're
seeing
a
cooling
of
overall
demand
that
is
beginning
to
happen.
We've
seen
the
job
openings
rate
level
off
this
summer.
B
Secondly,
the
second
metric
to
be
on
the
lookout
for
is
initial
unemployment
insurance
claims.
This
is
another
very
good
leading
indicator,
because
it
gives
us
some
insight
into
the
number
of
newly
laid
off
people
at
the
u.s
level
and
in
south
carolina
initial
unemployment.
Insurance
claims
represents
the
people
who
are
laid
off
from
work
and
then
file
for
unemployment
insurance
benefits
the
first
time
that
they
go
down
and
file
after
they
are
laid
off
from
from
their
employer.
B
They
are
considered
an
initial
claimant,
and
so
those
initial
claims
overall
give
us
insight
into
layoff
activity,
particularly
among
small
businesses,
where
we
don't
often
we're
not
often
able
to
see
it
in
the
news.
Normally,
when
you
see
major
layoffs
from
larger
companies,
that's
that
information
is
made
public
very
quickly,
but
that's
not
always
the
case.
B
B
Make
one
quick
comment,
as
we
conclude,
even
though
we
are
expecting
a
bit
of
a
slowdown
in
the
coming
year,
it's
important
to
keep
in
mind
that
a
recession
does
not
mean
economic
catastrophe,
and
I
think
this
is
an
extremely
important
point,
because
I
I
think
that
for
many
of
us
we
are
used
to
thinking
of
recession
as
as
an
economic
catastrophe.
Those
are
those
are
really
synonymous
terms
and
that's
because
the
last
two
recessions
have
been
so
so
impactful
if
we
think
about
2020
and
2008.
B
So
again,
even
though
we
are
looking
at
a
possible
slowdown
within
the
next
year,
it's
important
to
keep
it
keep
that
in
in
context
and
to
what
we're
talking
about
and
what
we
mean
by
that
and
what
we
don't
mean
by
that,
because,
as
we
look
forward
again,
we're
still
coming
down
off
of
this
off
of
the
stimulus
effects
that
we've
seen
over
the
past
two
years.
That's
especially
true
in
the
housing
market.
B
A
B
Great
question
south
carolina
has
done
very
well,
so
we
see
this
across
the
board.
If
we
see
this
in
terms
of
our
labor
market,
especially
where
employment
today
is
about
1.6
higher
than
it
was
right
before
the
pandemic
began.
So
we
saw
a
rapid
rebound
of
the
labor
market
and
in
fact
we
have
1.6
percent
more
people
working
today
than
we're
working
in
in
2019..
B
B
B
B
Yeah
great
question:
I
think,
the
so
the
if
you
look
into
the
inflation
reduction
act,
I
I
think
it
it's
a
bit
misleading
and
how
how
it
is
named,
because
most
of
that
most
of
the
act
is
geared
more
towards
climate
change
and
towards
changes
in
in
healthcare
related
policies
with
with
respect
to
costs
and
some
other
things.
But
it's
not
really
geared
towards
inflation
per
se,
and
most
projections
that
we
have
seen
suggest
that
the
impact
on
inflation
itself
is
is
basically
going
to
be
negligible.
B
There's
there's,
there's
not
much
there
again,
it's
it's
more
about
climate
change
and
about
about
health
care
costs,
and
it
is
about
about
inflation.
I
think
the
the
biggest
the
biggest
metric
to
really
look
at
for
inflation
going
forward
is,
is
just
keeping
our
eye
on
the
fed
and
what
they
are
looking
to
do
and
how
aggressive
they
remain
with
with
raising
interest
rates
which,
as
I
mentioned
before,
there's
there's
no
indication
that
they're
going
to
be
slowing
down
these.
B
B
So
if
we
look
at
the
headline
number,
which
is
8.5
percent,
that
is
the
that
looks
at
all
goods
and
services
in
the
in
the
u.s
economy,
the
core
inflation
rate
is
the
one
that
the
fed
really
pays
close
attention
to,
which
excludes
food
prices
and
energy
prices,
because
they
are
so
volatile
and
and
move
around
quite
a
bit.
So,
for
example,
the
reason
we
saw
inflation
decline
between
june
and
july
of
this
year
that
we
came
down
from
9.1
to
8.5.
B
B
It
doesn't
address
the
other
sectors
of
the
economy
and
we
are
still
seeing
broad-based
inflation
across
most
industry
sectors
and
the
core
inflation
rate
is
really
what
really
what
measures
that
core
inflation
is
right
around
six
percent
right
now.
So
the
fed
is
looking
at
the
core
inflation
rate
and
for
that
to
go
down
for
a
significant
period
of
time.
A
B
B
I
know
I
I
sometimes
sound
like
a
broken
record
that
all
eyes
point
to
the
fed,
but
but
it
really
is
true
right
now
and
every
time
we
see
a
the
fed
get
get
aggressive
and
to
continue
to
raise
rates
that
does
rattle
the
markets
because
they
are
you
know,
markets
are
wanting
to
see
lower
inflation,
but
at
the
same
time,
raising
rates
does
impact
the
short-run
outlook.
So
what
does
that
mean
for
stocks?
It
means
more
volatility.
A
Dr
von
essen,
we
thank
you
so
much
for
being
with
us
today.
I
know
from
the
amount
of
questions
that
we
have.
Their
listeners
are
certainly
very,
very
appreciative
of
you
taking
your
time
to
be
with
us
and
share
some
some
things
about
the
south
carolina
as
well
as
the
global
economy
with
us.
It's
my.
A
See
you
you
as
well
hope
to
see
you
soon.
Likewise,
all
right-
that
was
dr
joey
von
essen
and
certainly
an
excellent
update
from
him.
We're
so
appreciative
of
we're
going
to
shift
gears
right
now
and
we
know
another
hot
topic:
that's
out
there
and
that's
workforce
housing.
A
few
of
our
local
businesses
have
taken
action
to
supply
workforce
housing
for
their
co-workers.
A
D
Thanks
for
having
me,
I
appreciate
it,
I'm
gonna
try
to
shorten
my
presentation
a
little
bit
just
because
I
have
to
hop
off
here
in
a
little
bit
to
head
to
another
meeting.
So
I
apologize,
but
as
bill
said,
this
is
a
very
important
topic,
not
just
for
the
town
of
bluffton
for
the
region.
This
is
something
that
the
town
of
bluffton
has
made
a
priority,
and
our
town
council
has
for
many
years
it's
actually
one
of
our
seven
strategic
focus
areas
for
the
town
of
bluffton.
D
This
includes
the
one
that
we're
currently
working
on,
which
is
on
may
river
road
and
we're
hoping
to
get
it
started
sooner
rather
than
later.
So
this
kind
of
talked
about
this
project.
We
have
to
go
back
about
two
three
years:
pre-covered
the
town
put
out
an
rfp
for
a
public
private
partnership
and
I
believe
hilton
head's,
going
through
the
same
process
right
now
and
trying
to
narrow
down
to
their
their
partner.
D
D
In
spring
of
this
year
approved
a
agreement
that
they
felt
comfortable
with
that
we
could
go
back
and
finalize
the
details
on
and
get
the
agreement
signed.
We
were
able
to
get
that
done
in
august
and
what
that
outlines
is
so.
It
serves
as
the
master
agreement
that
we
hope
to
use
not
just
for
this
project
but
for
future
affordable
housing
projects
moving
forward.
But
this
one
is
specifically
for
property.
D
We
own
on
1095
may
river
road
and
it's
small
in
nature,
but
it's
a
start
and
it's
something
that
we
hope
that
we
can
expand
upon
in
future.
On
other
properties
that
we
own.
The
town
owns
about
four
properties
that
we
have
for
affordable
housing
and
the
goal
is
that
we
can
take
this
model
and
then
use
it
on
the
other
properties
as
well.
D
The
way
this
is
going
to
work
is
a
town
is
mostly
making
a
financial
commitment,
while
the
private
developer
is
going
to
be
actually
well
we'll,
be
making
a
financial
commitment
for
the
first
couple
of
phases.
So
this
is
broken
up
into
three
phases,
with
the
first
phase
being
the
architectural
engineering
design.
D
D
We
actually
own
the
design
for
the
project
and
we
can
find
another
partner
to
go
out
and
move
the
project
forward
with
us
phase
two
is
the
horizontal
construction:
that's
the
infrastructure
of
the
roads,
the
water
sewer,
all
the
things
that
are
needed
to
get
the
sites
prepped
to
be
able
to
construct
the
the
town
will
have
a
financial
commitment
into
that,
but
that
will
be
determined
at
what
level
and
what
amount.
Once
we
figure
out
what
the
design
is
going
to
be
for
the
entire
project.
D
We
have
an
estimate,
but
we
can't
finalize
it
until
we
know
what
the
entire
site
layout
is
going
to
look
like
it's
during
this
time
that
we'll
actually
transfer
the
property
to
the
to
our
partner.
So
they
can
use
that
to
go
out
and
leverage
and
get
what
they
need
to
be
able
to
construct
the
buildings
phase.
D
So
that
was
our
goal
was
to
make
sure
that
we
can
find
people
that
can
qualify
the
ami
level
by
making
sure
that
the
unit
cost
for
the
developer
is
low
enough,
that
they
can
get
somebody
in
at
that
level.
The
other
key
to
it
is.
We
want
to
make
sure
we
have
oversight
over
design
layout,
and
we
have
to
approve
all
of
that,
because
we
want
to
make
sure
they're
representative
of
the
community.
D
D
So
timeline
wise,
we're
hoping
that
we
can
get
the
architectural
engineering
wrapped
up
here
sometime
towards
the
end
of
the
year,
the
first
of
next
year,
they're
working
with
local
architects
and
engineers
to
move
that
forward
now.
So
we're
hoping
that
we
can
get
that
done
sooner
rather
than
later
and
then
figure
out
what
we're
going
to
be
building
and
start
working
on
getting
the
horizontal
work
moving
forward.
D
I
will
say
that
this
is
not
the
only
action
that
the
town
has
taken
on:
affordable
housing.
We
did
a
affordable
housing
project
on
war
street
about
seven
or
eight
years
ago.
It
was
one
of
our
first
ones
where
we
did
a
few
affordable
housing
units
and
sold
them
directly
but
regionally.
There's
a
regional
housing
trust
fund
that
is
being
discussed
by
the
southern
low
country
board
and
it's
actually
on
the
agenda
for
our
town
council
next
week
to
look
to
approve,
and
so
far
the
town
of
hardyville
and
nemesis
have
approved
it.
D
C
D
Making
sure
they
have
air
conditioning
making
sure
if
their
floors
are
rotting,
we
can
repair
those
we
convert
from
septic
sewer.
We
can
partner
with
other
groups
like
low
count,
low
country,
council
governments
and
to
help
with
renovations.
We
have
a
tree
mitigation
program
where
we
can
make
sure
that
if
a
tree
is
dangerous
and
threatening
somebody's
property,
that
we
can
help
by
mitigating
that
and
even
replant
to
make
sure
that
we're
keeping
our
tree
canopy.
D
But
the
goal
of
that
is
to
make
sure
that
we
keep
people
in
their
homes,
because
when
people
leave
their
homes
that
are
affordable
to
them
a
lot
of
times,
what
happened
is
that
property
ends
up
going
up
for
sale
and
it
no
longer
becomes
an
affordable
unit
within
the
town.
So
we
want
to
make
sure
we're
keeping
people
within
their
homes
and
even
though
it
sounds
like
it
doesn't
fit
in
there.
D
We
also
approved
several
historic
preservation
grant
programs
earlier
this
year,
because
we
have
several
historic
properties
that
are
affordable
within
our
historic
district
that
people
have
lived
in
for
decades,
their
heirs
property,
their
they've,
been
in
general,
multiple
generational
homes,
so
they
can
do
renovation
to
get
grants.
We
can
help
them
with
tax
relief
for
repair
based
on
state
law.
So
there
are
some
things
that
we've
put
in
place.
A
Stephen
thank
you
for
that,
and
I
also
want
to
plug
put
a
plug
in
for
our
bluffton
regional
business
council
meeting,
which
will
be
next
wednesday.
The
14th
at
9
00
a.m,
and
that
will
be
a
bluffton
town
hall
and
stephen
will
be
our
guest
speaker.
Is
that
so
you'll
be
able
to
hear
more
details
about
the
housing
projects
as
well
as
well
as
other
updates
that
stephen
will
be
providing
and
stephen
just
a
couple
questions
for
you,
because
I
know
you
got
to
run.
D
D
So
the
first
step
in
that
is
to
get
all
the
towns
and
counties
to
approve,
provide
who's
going
to
be
their
member
to
the
oversight
board,
provide
the
funding
and
then
the
oversight
board
will
set
the
bylaws
the
rules
and
determine
who's
gonna.
How
it's
gonna
be
ran
moving
forward,
but
the
the
intergovernmental
agreement
that
we're
all
looking
to
sign
kind
of
set
some
outlines
on
priorities
for
affordable
housing
and
it
outlines
how
the
board's
going
to
operate
and
what
their
priorities
are.
D
A
D
A
Very
good,
we'll
see
you
have
a
great
rest
your
day,
all
right
youtube.
Thanks
for
having
me
you're,
welcome,
we'll
keep
the
conversation
going
and
focusing
on
housing.
We
know
that
the
market
has
cooled
a
little
bit
in
some
places,
but
still
it's
red
hot
in
other
places
and
relocation
is
happening
happening
all
over
the
country,
but
one
of
the
fastest
growing
in
small
towns
is
bluffton,
which
I
believe
was
number
36
small
town
in
growth,
and
so
here
to
talk
to
us
about
that.
E
All
right
well
great
thanks
for
having
me
bill
good
morning
to
you
good
morning,
everyone.
So
you
know
the
last
couple
of
years.
We've
heard
nothing
but
how
the
market
has
been
so
so
active
and
we've
had
multiple
offers
and
record
sales
and
real
estate
was
a
frenzy,
and
now
we've
moved
to
new
words
like
it's
shifting.
It's
changing
it's
slowing
down.
E
What's
what
is
happening
out
there,
but
you
know
one
thing
that
has
not
changed
then,
where
steve
was
just
talking
about
the
the
the
real
estate
market
and
dr
vanessa
was
our
low
inventory
that
we
have,
and
that
has
not
changed
and
I'll
I'll
address
that
in
a
minute.
But
you
know
our
local
real
estate
market
is
really
has
been
a
mix
of
all
those
words.
We
do
continue
to
see
multiple
offers,
but
not
at
the
pace
we
had
seen
before.
E
You
know
properties
that
are
renovated
and
are
move-in
ready,
they're
highly
desirable,
and
there
is
still
a
large
pool
of
buyers
vying
for
those
homes
and,
like
you
said,
our
region
is
very
much
desirable
and
a
fast-growing
area
where
you
said
in
bluffton
and
hardyville
and
such
so.
So
we
do
see
that
there,
the
pool
of
buyers
is
still
there
anxiously,
looking
to
find
a
property
for
for
their
own
home,
but
our
sellers
expectations
we've
had
to
kind
of
reset.
E
As
I
said
when
I
started,
one
thing
that
hasn't
changed
is
our
low
inventory
and
while
we
have
seen
an
increase
in
available
properties,
it
is
not
nearly
a
stable
market.
So
when
I
spoke
to
on
the
power
hour
in
june,
there
were
571
residential
homes
and
condos
available
for
sale
through
the
resides
mls,
which
is
the
local
mls
here
in
our
region
today,
that
number
is
8
21.
E
earlier
this
year
it
was
in
the
200s,
so
you
see
we've
gone
from
200s
up
to
800
a
little
over
plus,
but
to
provide
some
perspective
in
that
in
september
of
2019,
there
were
2
1333
properties
on
the
market.
So
you
know,
2019
is
a
great
benchmark.
That
was
a
strong
and
steady
real
estate
market.
So
you
can
see
we
still
have
a
very
long
way
to
go.
E
So
the
next
question
I
get
a
lot
these
days
is
about
the
interest
rates
and
dr
von
essen
was
just
talking
about
interest
rates
and
rising
interest
rates
and
and
how
that
is
going
to
impact
the
the
real
estate
market
as
well.
So
here's
an
example
of
what
I've
received
from
one
of
our
lenders.
So
in
march
of
21
march
of
21,
the
median
national
house
price
point
was
326
350,
a
person
taking
out
a
30-year
mortgage
at
a
3.1
interest
rate.
E
Then
you
fast
forward
to
march
of
22,
where
the
housing,
the
same
house,
because
of
appreciation
and
rising
prices,
is
up
more
than
15
percent,
so
you're
looking
now,
that
price
is
costing
three
hundred
and
seventy
five
thousand
three
hundred
dollars
same
scenario
but
interest
rated
five
percent
and
you're
looking
at
a
monthly
mortgage
of
one
thousand
six
hundred
and
twelve
dollars.
So
that
is
an
increase
of
497
or
500
more
a
month
for
the
exact
same
house,
so
you'll
see
that
this
was
going
to
impede
some
people
to
achieving
homeownership.
E
E
So
let
me
just
get
to
some
local
numbers.
I
know
people
like
to
hear
the
latest
data,
so
our
latest
data
is
july.
The
august
reports
will
be
out
early
next
week
and
you're
more
than
welcome
to
go
to
our
website
hhrealtor.com.
They
are
open
to
the
public
under
resources.
You'll
find
all
our
market
reports,
but
the
median
sales
price
for
our
region
was
up
by
21
here
today,
so
we're
at
485.
E
000
is
the
median
price
point
for
our
region
and
closed
sales
are
down
no
surprise
there
by
22
compared
to
year
to
date
of
20
july
of
21,
but
the
local
volume
of
units
sold
and
pending
sales
is
more
in
line
with
2019,
so
it's
about
3,
500
properties,
you're,
looking
at
so
in
a
month's
time.
So
I
think,
excuse
me
year-to-date,
so
I
think
you're
we're
we're
starting
to
see
back
to
those
numbers
at
2019..
E
So
I'm
going
to
switch
and
I'm
going
to
say,
let's
talk
about
the
future
of
real
estate.
What
could
what
could
it
be
like
and
what
will
be
the
experience
the
consumer
is
going
to
have
in
the
not
maybe
not
so
distant
future
on
real
estate?
So
I
was
at
a
conference
in
the
spring
and
I
was
attending
a
session
called
emerging
trends
in
real
estate
and
here's
some
takeaways
that
I
came
with
so
what?
If,
in
the
not-too-distance
future,
where,
before
you
bought
a
home,
you
live
in
the
property
virtually
through
the
metaverse.
E
E
Investors
have
spent
31
billion
dollars
in
real
estate
technology
in
2021..
So
I
leave
you
with
those
thoughts,
I'm
happy
to
answer
any
questions,
but
those
are
some
things.
They're
saying
could
be
the
future
of
real
estate.
Our
market
here
again
is
still
strong.
I
encourage
everyone.
You
know
when
you're
working
with
a
realtor
they're,
the
ones
with
the
data
they're
the
ones
with
all
the
information
comparables
and
can
help
counsel
you
into
your
whatever
your
goals
are
in
real
estate.
A
E
E
I
think
that
trend
of
work
from
home
we'll
see
how
that
impacts
as
companies
now
are
starting
to
pull
back
on
that
a
little
bit
and
looking
for
people
to
return
to
the
office,
but
I
think
that
opportunity
for
work
from
home
and
flex
times
can
is
going
to
still
impact
us
and
and
people
coming
from
the
different
areas
to
be
able
to
enjoy
our
quality
of
life,
yet
still
have
that
career
that
they
had
from
where
they
are
before.
I
just
had.
D
A
E
E
A
Gene,
I
can't
let
the
moment
pass
without
recognizing
you
and
saying
congratulations
for
receiving
the
bud
smith
leadership
award
from
the
national
association
and
it's
a
huge
honor.
Any
time
you
win
an
award
from
a
national
association,
it's
just
a
terrific
honor
and
one
that
I
hope
your
members
are
very,
very
proud
of
you
and
I
know
that
we
are
and
congratulations
for
not
only
the
work
you
do
locally,
regionally,
statewide,
but
also
on
a
national
front
as
well.
So
congratulations
for
that.
E
A
We
know
it's
a
tough
job
and
she's
here
to
talk
about
how
the
housing
market
has
impacted
property
taxes
and
deadlines
that
are
coming
up
and
other
things,
so
we're
really
glad
to
have
with
us,
maria
walsh,
maria.
Thank
you
for
joining
us
this
morning.
I
know
we've
had
you
on
before,
but
looking
forward
to
another
update
from
you.
C
Good
morning,
good
morning,
I'm
so
excited
to
be
here,
so
I
will
go
ahead
and
get
started
with
our
presentation
and
of
course,
I'm
looking
forward
to
the
questions
all
right.
So
we're
going
to
talk
a
little
bit
about
everything
today
and
bill.
Can
you
hear
me
because
it
looks
like
my
screen
is
frozen.
C
C
C
We
have
so
many
different
taxpayers
and
customers
in
beaufort
county
with
and
are
each
one
situation
is
as
unique
as
that
person,
and
so
from
a
service
standpoint,
we
tried
the
treasurer's
office
to
be
as
flexible
and
customized
as
we
possibly
can
for
those
customers,
so
we're
meeting
them
where
they
are
not
where
we
want
them
to
be
so,
first
and
foremost,
keep
your
mailing
address
up
to
date.
This
seems
so
simple.
C
This
seems
so
simple,
but
the
majority
of
our
south
carolina
state
law
requirements
mean
that
we
have
to
send
you
a
notification
through
the
mail
and
unfortunately,
as
many
of
our
customers
know,
we
cannot
waive
penalties
or
certain
parts
of
the
taxation
process,
simply
because
a
mailed
item
wasn't
received
so
keep
your
mailing
address
current.
You
can
update
it
online
at
any
time
and
please
don't
rely
on
mail
forwarding
if
kovit
has
taught
us
anything.
C
I
don't
know
that
the
post
office
had,
you
know
totally
reliable
service
before
covid,
but
it
certainly
hasn't
improved,
and
I
think
we
all
are
aware
of
that.
But
for
some
reason
we
don't
expect
it
to
affect
our
tax
bill
and
it
it
very
much
does
so.
The
next
thing
that
I
want
your
viewers
to
be
aware
of
is
I
always
generally
ask
during
a
presentation.
C
E
C
C
So
your
address
might
be
123
main
street
on
your
property
deed,
but
the
post
office
says
it
should
be
123.
North
main
street
make
sure
that's
correct
when
your
address
is
standardized,
we'll
put
something
in
your
envelope
to
let
you
know
that
that's
occurred.
The
next
thing
is
going
to
be
your
tax
authority
group.
C
The
next
thing
I
want
you
to
make
sure
you're
looking
at
is
that
your
assessment
ratio
is
4.
If
you
are
a
full-time
resident
in
your
home,
we
have
so
many
new
customers
moving
to
beaufort
county
and
to
be
frankfuel.
So
many
people,
I'm
originally
from
new
jersey
they're,
so
grateful
to
not
be
paying
new
york,
new
jersey,
pennsylvania,
property
taxes
that
they
think
the
six
percent
rate
is
a
great
deal.
So
they
often
don't
believe
me.
When
I
tell
them,
oh,
you
should
be
paying
less.
C
C
We
often
as
elected
officials
and
governing
bodies
we
focus
on,
and
customers
too.
We
focus
on
what
the
millage
rate
is,
but
value
drives
the
bus
and
taxes.
If
your
appraised
value,
your
value,
is
higher
than
you
believe
it
should
be.
I
don't
care
what
kind
of
property
type
it
is
make
sure
that
you
are
appealing
that
value,
if
you
think
that's
appropriate,
because
a
high
value
means
higher
taxes,
that's
it.
It
does
not
matter
what
the
millage
rate
does
so
make
sure
that
you're
in
agreement
with
that.
C
The
next
thing
is
just
exemption
values.
We
have
disabled
veterans,
exemptions
that
you
may
be
eligible
for.
The
homestead
exemption
is
another
big
discount
on
your
property
taxes,
if
you're
eligible
make
sure
you're
getting
them,
and
I
want
to
be
clear
to
everyone
watching
in
your
membership.
There
is
no
exemption.
That
is
automatic.
C
There
is
no
discount
that
is
automatic.
It
does
not
matter
how
long
you've
lived
in
beaufort
county
or
that
the
assessor's
office
should
know
that
you
sold
one
house
and
moved
to
another.
You
have
to
reapply
every
time
you
have
a
title
change,
particularly
for
your
legal
residence
exemption,
so
want
to
make
that
very,
very
clear
and
now
is
the
time
to
apply.
C
So
last
but
not
least,
I
am
sure
everyone
watching
has
paid
a
bill
late
by
accident
and
taxes
are
no
exception,
make
sure
you're,
noting
the
dates
on
the
bottom
of
your
bill,
because
the
last
thing
we
want
is
for
you
to
be
late
for
you
to
pay
us,
send
us
a
payment
for
the
original
amount
due
and
then
we
have
to
return
that
payment
and
let
you
know
that
you
have
to
send
us
additional
funds.
Hs
creates
a
longer
process
for
our
customers.
C
It's
a
headache
so
avoid
that
by
looking
at
these
six
things
on
your
bill,
so
next,
well,
what?
If
you
don't
want
to
receive
a
paper
bill,
because
the
post
office
is
increasingly
unreliable
and
even
if
they
don't
deliver
your
bill
successfully,
you're
still
responsible
for
paying
on
time.
So
our
solution
to
that
in
the
children's
office
is
my
beautiful
county.
C
We
will
do
everything
we
can
to
ensure
that
you
never
miss
another
bill.
You
have
all
your
records
and
bills,
bills
and
receipts
in
one
place.
We
send
you
frequent
reminders
tailored
specifically
to
our
customers,
so
instead
of
sending
out
a
mass
mailer
or
mass
email,
we
know
that
john
smith
has
not
paid.
C
We
can
see
that
he
has
an
account
on
my
beaufort
county
and
five
days
before
the
deadline,
two
days
before
the
deadline,
we're
going
to
make
sure
that
we're
proactively
re-communicating
with
mr
john
smith
to
ensure
that
he's
getting
a
reminder
to
get
that
bill
paid
on
time
and
last
but
not
least,
if
you're
paying
with
an
e-check,
the
majority
of
our
payments
are
actually
paid
by
check.
There
are
no
additional
fees,
this
cost
our
customers,
nothing
and
the
benefit
of
it
is
that
if
you
sign
up
for
e-billing,
it
costs
the
county,
nothing.
C
This
helps
best
save
money
from
a
taxpayer
standpoint
from
a
budgetary
standpoint,
but
it
is
so
much
more
reliable
and
it
allows
us
to
be
more
proactive
in
communicating
with
our
customers.
So
I
would
encourage
your
your
viewers
today
and
your
membership
to
try
it
out
and
see
if
it's
something
that
fits
their
needs.
C
The
next
thing
that
I
wanted
to
share
is
whether
you
sign
up
for
my
beaufort
county,
or
you
have
paper
bills,
our
installment
payment
plan.
This
is
a
pay
in
advance
program.
One
of
your
earlier
speakers
was
talking
about
eric's
property.
The
treasurer's
office
does
a
lot
of
work
with
our
air
property
groups
in
pipa
county,
and
this
is
one
of
the
programs.
I
share
a
lot
about
because,
with
everything
going
on,
I
mean
there's
just
been
so
much
in
today's
the
power
hour.
C
Now
here
is
what
you
can
do
and
we've
put
the
power
of
choice
in
the
hands
of
our
customers.
You
can
pay
the
amount
due
on
the
installment
bill
we
send
and
if
that's
what
you
want
to
do,
you
pay
use
the
payment
method,
most
convenient
for
you,
but
if
you
want
to
choose
what
to
pay,
which
means
that
anyone
watching
anyone
in
this
program
can
literally
send
us
any
amount
at
any
time
that
they're
able
to
it
could
be
five
dollars
a
week.
It
could
be
twenty
dollars
a
month.
C
We
don't
care,
we
will
do
everything
we
can
to
ensure
that
we
apply
it
to
your
future
tax
bill
and
at
least
you're
getting
ahead
to
a
certain
extent,
if
you're
going
to
do
that,
you
will
have
to
pay
by
mail
or
in
person
at
one
of
our
office
locations
but
again,
giving
our
customers
flexibility,
because
sometimes
paying
that
installment
bill
is
not
working
in
someone's
budget.
Especially
right
now
know
that.
That's
that
you
have
other
options.
C
C
For
you,
it
may
not
be
a
part
of
your
engagement
letter
and
you
certainly
want
to
ask
to
ensure
that
it's
not
missed
so
know
whether
you're
filing
that
with
the
department
of
revenue
at
the
state
or
the
beaufort
county
auditor's
office,
make
sure
you
file
it
every
year
your
property
taxes
will
be
based
on
that
filing.
If
you
don't
file
it
on
time
or
at
all,
you
miss
it
completely.
An
estimated
business
value
will
be
assessed
for
you
and
in
my
11
years
in
the
treasurer's
office.
C
I
have
never
seen
that
value
be
astronomically
greater
than
what
that
business
is
real
value
was
so,
let's
make
sure
that
you're
setting
yourself
up
for
success,
let's
not
pay
more
taxes
than
we
have
to
and
that
you're
filing
your
return
on
time
every
year
so
going
forward.
We
are
entering
the
end
of
our
delinquency
period
and
statistically,
it
is
not
likely
that
many
of
your
participants
today
are
delinquent,
but
I
want
to
share
the
information.
C
Our
customers
fall
into
kind
of
two
categories
right
now:
the
customers
who
are
currently
paid
they're
all
paid
up.
Here's
what
I
need
you
to
do.
If
that's
you,
please
try
signing
up
for
e-billing
now's
the
time
to
do
it,
try
it
out
with
your
annual
bill
and
if,
if
you
think
it's
great
awesome-
and
you
can
add
your
other
accounts
to
that
up-
make
sure
your
mailing
address
is
up
to
date
and
ensure
you're
receiving
all
of
your
applicable
discounts.
C
The
deadline
to
avoid
the
tax
sale
is
september
30th
at
5
pm.
You
can't
postmark
your
payment
by
that
date.
We
have
to
receive
it
by
the
30th
at
5
pm
and
for
all
other
property
type
caller
office.
If
you
need
help,
if
you
have
questions,
we
want
to
help
our
customers,
because
there
are
other
collections
programs
that
we
utilize
for
other
property
types,
and
the
last
thing
we
want
is
our
customers
to
be
uninformed.
C
This
is
a
statutory
process,
we're
required
to
follow
through
with
it,
but
we're
people
living
in
our
in
the
community
here
too,
and
we
want
to
help
we're
the
experts
in
what
we
do
and
we're
here
to
assist
in
any
way
that
we
can
so
we're
always
here
for
our
customers
and
it's
not
just
during
the
day
we
do
have
staff
members
who
have
flex
hours,
that
they
are
answering
emails
and
chats
in
the
evenings
and
on
weekends.
We
do
everything
we
can
to
make
sure
you're
not
being
kept
waiting.
C
So
we
furloughed
a
majority
of
our
team
which,
at
this
point
is
now
proven
to
be
a
challenge
to
fill
those
roles.
We
have
not
had
a
qualified
candidate
apply
for
the
hilton
head
office
in
almost
two
years,
and
while
we've
had
new
candidates
join
our
bluffton
and
buford
office,
that
seems
to
be
where
the
interest
is
for
employment
and
for
candidates
applying
for
positions.
C
C
Everything
we
do
in
the
treasury's
office
is
built
upon
our
vision
and
our
mission
and
our
core
values.
So
it
would
be
a
great
service
to
not
just
our
team,
but
our
community.
If
you
know
anyone
looking
for
agriculture
and
a
great
working
opportunity,
we
would
love
for
them
to
apply
at
beaufort
county
sce.gov.
A
All
right
maria!
Thank
you
so
much
for
that
detailed
presentation.
We've
had
several
questions
and
your
presentation
has
answered
several
of
those
which
is
very
good
and
one
that
I
want
to
bring
up
now
is
coming
from
gary
and
gary's
asking.
If
I
have
any
issue
with
my
property
tax
reassessment,
how
do
I
address
it?.
C
So,
property
tax
reassessment
and
any
real
property
value.
So
when
he
says
reassessment,
I'm
assuming
you
mean
on
real
property
which
would
be
dirt
dwellings,
you
are
going
to
contact
the
beaufort
county
assessor's
office,
who
is
responsible
for
assessing
values
on
all
real
property
reassessment
notices
were
mailed
out
on
september
1st.
C
On
the
back
of
the
reassessment
notice,
it
will
provide
you
a
lot
of
information
on
how
to
proceed
with
that,
but
if
you
did
not
receive
one
think
you
should
or
just
have
a
general
question
you
want
to
reach
out
to
the
beaufort
county
assessor's
office.
You
can
do
that
at
assessor,
bcgov.net,
they're,
very
responsive
by
email,
or
you
can
call
at
843.255.
C
Well,
so
the
short
answer
of
that
is,
unfortunately,
I
can't
answer,
because
we
typically
cannot
resolve
issues
on
a
tax
bill
generally
they're
about
value
which
would
be
the
assessor
auditor's
office
or
exemption,
which
would
be
the
assessor
and
auditor's
office.
If
it's
a
payment
issue,
it
certainly
depends
on
the
complexity.
I
will
tell
you
the
hardest
payment
issues
to
resolve
are
when
our
customers
use
their
online
bill
pay,
because
our
customers
believe
that
it
went
out
of
their
bank
account
and
we
have
that
funds
and
that's
not
typically
the
case.
C
The
bank
holds
those
funds
for
a
period
of
time
before
they
actually
send
them
to
the
treasurer's
office.
So
it
really
depends
on
the
type
of
issue,
but
I
don't
know
if
she
wants
to
be
more
specific
bill.
I
think
the
assessor's
office
is
taking
about
two
months
to
process
legal
residence
applications.