We are now well into Summer and buyers are definitely picking up as they search for bargain homes. Some recent clients of mine woke up one morning not long ago and said, "We could never afford Hilton Head before, but we can now." They came a got a $600,000 foreclosure that needs a little work for under $400,000. They are thrilled and are set for life. Two other buyers closed in March after buying homes at significant discounts - one got a good three bedroom home on Hilton Head for an astounding $127,500. They got a 4.5% interest rate, too. (Rates are currently about 5%). Mainland properties are moving even faster.
The Hilton Head market remains soft as we head into summer, but certain price ranges ($300,000 to $450,000) are quite active as buyers grab homes at price points not seen since 2004. Inventory is still over twice what it was a year ago, so prices continue to decline at all levels. A few homes have even dropped below $200,000. That means it is a great time to buy a vacation home or beach condo! This is especially true for those looking for a place to build family memories and enjoy time together. Buyers have numerous options for any type of property, and can go for the best value. Smart sellers who want to move a home know that they must offer excellent value in this slower market.
ZIP Codes: 22926, 29928, 29936, 29938, 29915 Approximate Location Boundaries: The bridges over Skull Creek in Bluffton south to Sea Pines Plantation
Location Characteristics: Hilton Head Island is a world-renown resort destination that features the best in coastal living. 12 miles of hard-packed white sand beaches lure tourists and residents from around the world, as do PGA-calibre golf, wonderful harbors for boats, and world-class tennis facilities. Hilton Head pioneered upscale development that preserves the natural settings, and has a gorgeous tree canopy right down to the edge of the water and sand dunes at the beach. Hilton Head offers a wide variety of housing options, from small condos (called villas) up to massive beachfront mansions. The weather is ideal, with very mild winters and long lazy summers. Major shopping is available on the Island as well as nearby in Bluffton, Savannah, and Beaufort. Access to larger cities like Charleston, Columbia, and Atlanta is easy.
About Michael Armistead:
My life has centered on people and helping them fulfill their dreams and goals. Since 2003 I have been a full-time Realtor on Hilton Head Island and in Bluffton. This was after serving as a Presbyterian minister for 22 years, leading churches in Miami, Atlanta, Charlotte, and most recently Bluffton. I am a licensed Broker in South Carolina and North Carolina, and have earned the Accredited Buyer Representative (ABR) and e-Pro (Technology) designations to better serve my buying and selling clients. I am also an active member of the Rotary Club of Bluffton, and former chair and current board member of the Young Life Committee of Hilton Head/Bluffton that oversees this important Christian ministry for teenagers in the area. The local Association of Realtors has awarded me their Realtor Service Award in 2005, 2006, and 2007, which goes to the Realtors who take the lead in giving back to the community. I believe that treating others the way I would want to be treated is the heart of building a successful real estate relationship. Honesty and integrity are paramount. Please give me a call and let me help you explore the joys of Lowcountry living.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
