Archive for the ‘The Hilton Head Real Estate Market’ Category

And Hilton Head Loves Canadians 

 Hilton Head Island is among the most popular American destinations for Canadians, the largest group of foreign nationals who visit Hilton Head Island each year.  Canadians buy more real estate on Hilton Head Island than any other international buyers.  

This winter, Canadians are expected to visit Hilton Head Island in record numbers and enjoy our average winter temperature of 61 degrees.  (In Canada, the average temperature in winter is below zero degrees).  There are  other good reasons why Canadians like to vacation on Hilton Head Island in winter instead of Florida:

1. low prices for accommodations and golf
2. great golf all winter long
3. great shopping and dining
4. the beach, great for walking in winter
5. rest and relaxation
6. Southern hospitality is always good.
7. Canadians want to avoid issues of living and owning in Florida that Hilton Head Island does not have.  
8. Canadians know other Canadians who own property in Florida and want to move here now.
9. The term ‘half-back’ applies to many Canadians too, not just Americans who prefer a shorter trip south.  
10. The Royal Bank of Canada has a branch on Hilton Head Island. 

Royal Bank of Canada South Carolina Mortgage Manager Charlie Sides told the Go Gated Blog:  ” In 2009 and 2010 the largest segment of international buyers will come from Canada.   With the exchange rate at historical highs vs the dollar, Canadians believe that this is the time to buy”. 

Visitors to Hilton Head Island in winter enjoy off-season prices for accomodations and golf and an average winter temperature of 61 degrees.

In Canada, The Real Estate Buying Process Is Different

1. Canadians are more debt adverse than Americans.  They like smaller loans of shorter duration.
2. Americans take 3-5 weeks to close; in Canada it takes 3-5 days!
3. Americans are used to 2-3% in closings costs; Canadians typically pay 1-1.5%.
4. Americans rarely pay re-payment penalties; Canadians expect pre-payment penalties.
5. Adjustable mortgages are typically not converted to fixed rate mortgages or assumed in the US; in Canada they can be converted and assumed.
6. Americans are required to submit extensive documentation for loans; Canadians have comparatively simple documentation.
7. Canadians like full service.
8. Canadians don’t like to be sold.  They enjoy using trusted advisers and referrals. 

The Royal Bank of Canada on Hilton Head Island (RBC)

The Royal Bank of Canada on Hilton Head Island is located at the Sea Pines Circle on Pope Avenue, right across the street from Go Gated Realty.

• RBC is a Canadian Bank and an American subsidiary.  They see it as their job to facilitate lending.  RBC has a conduit that goes across the border.
• RBC is one of only two triple A banks operating in the United States today. 
• RBC has 10 branches in the State of South Carolina and 1 of these is on Hilton Head Island. 
• The RBC has a 33% market share and the most recognizable brand in Canada. 
• RBC is consistently voted as the best service company in Canada.  
• Canadians who visit Hilton Head Island have probably already banked with RBC in Canada. 

The Royal Bank of Canada on Hilton Head Island Helps Canadians feel good about buying property here.

• Canadians know that they can secure finance when they come to
• Hilton Head Island. 
• Canadians can use their Canadian credit reports
• The RBC is familiar  with doing business with Canadians
• Provide a referral to lawyers as needed who are familiar with Canadian tax issues. 
• Provide an easy foreign exchange for Canadians on Hilton Head Island.

Richard Kadesch, Your Trusted  Real Estate Advisor On Hilton Head Island

Whether Canadian or American, you want outstanding service from an experienced agent who listens to your needs and has advice that you can rely on.  Please consider me as your trusted real estate advisor here on Hilton Head Island with 34 years of real estate experience and many satisfied clients.   My office, Go Gated Realty is located at the Sea Pines Circle on Hilton Head Island, directly across the street from the Royal Bank of Canada.  Please stop by when you are here this winter.  Even before you visit, please email or call to discuss your real estate needs.   My cell phone is 843-684-2933.

Richard Kadesch, Owner and Broker-in-Charge The Gated Community Specialist ® Go Gated Realty ® Hilton Head Island, South Carolina Rich@gogated.com www.GoGated.com 1-800-333-5025 Read Some of My Clients’ Success Stories

Hilton Head homes are selling well at all prices, like this home in Indigo Run.

Homes Priced Less Than $450,000 Are Most Popular

Several sources tell us what buyers want to pay for a home on Hilton Head:

• Responses to print ads – there are more responses in recent months.
• Responses to on-line listings, also up.
• Calls from buyers - my favorite by far, also up in recent months.  Nothing beats speaking directly with someone to learn about their interests.
• Comments from agents who talk about their experiences. 
• Hilton Head MLS statistics.   
• News articles that combine information from the above, like this article.

Opinions about the market based on personal experience can be like  like blind men who define the elephant by which part of the elephant they touch.   Statistics can be interpreted differently by different people and so all sources of information are significant.  Engineers love numbers; everyone likes anecdotes. 

I already knew that lower-priced homes were selling well based in part on the first-time home buyer stimulus of recent months, now extended.   But, I wasn’t sure about how well higher priced homes were selling.  I was happy to see that homes s in all price ranges are selling well on Hilton Head today.

The direction of prices will be for another article.  This article does not try to define whether prices are going up, down or sideways except indirectly nor do I try to address the  the sale of lots or villas - just houses.    It is understood that most of the homes sold in every price range are bargains compared to what they sold for in recent years and even one year ago. 

The numbers in the chart below are from the Hilton Head Multiple Listing Service and they summarize homes sales from the entire Hilton Head area, not just Hilton Head Island.   Hilton Head  means the entire area and this includes  more than just Hilton Head Island; it also includes Bluffton, Daufuskie Island, Okatie, Hardeeville and additional outlying areas.  For many people today, Hilton Head  means everything from Rt 278 to Sea Pines whereas Hilton Head Island means just the Island itself.  

Hilton Head Homes Sold in the Last Six Months

*S/L is the ratio of how many homes have sold in the last six months compared to the number of homes listed.  The higher the ratio, the more likely that prices will be steady or increase in the future.   A low ratio could mean that few homes are selling and prices may have to come down to achieve sales.  Most every group of properties shows a strong, healthy ratio of number of homes sold to the number of homes listed.

**C+P/S is the ratio of contingent and pended homes compared to the number of homes sold in the last six months.  This says whether the number of homes under contract shows an increase, decrease or no change from the sales velocity of the last six months.   Almost all price ranges show an increase in the number of sales and if sustained, could bring higher sales prices.

 ”Contingent” means that a contract of sale has requirements that must be satisfied before the agreement can proceed to closing.  The most common contingencies are a buyer’s satisfactory inspection and that the buyer  must qualify for a loan. 

“Pended” means that there are no contingencies to the contract of sale or that they have been satisfied and the property will proceed to close.  Many agents label “contingent” homes as “pended” but for our purposes, it doesn’t matter.

 To get the bargain home that you want in any price range, or devise a winning strategy to sell a house that you already own, please call me , the Hilton Head Gated Communities Specialist today.  

The Multiple Listing Service of Hilton Head Island that requires this disclaimer:  “The statistical data contained herein has not been verified by the Multiple Listing Service of Hilton Head Island, Inc. and the publication of information hereof is not a representation or warranty of any fact whatsoever.”

Richard Kadesch, Owner and Broker-in-Charge The Gated Community Specialist ® Go Gated Realty ® Hilton Head Island, South Carolina Rich@gogated.com www.GoGated.com 1-800-333-5025 Read Some of My Clients’ Success Stories

A villa like this one with two-bedrooms, two-bathrooms, 1,000 SF of living space was just listed at Woodlake Villas for $49,800.  The villa has tile floors, new carpet and a fireplace  Woodlake Villas are popular primary and long-term residences with a security gate, fitness center, swimming pool and tennis court located mid-Island, a short drive from the beach.

Some Beach Villas Cost Less than $75,000! 

Everybody loves bargains and the Hilton Head real estate market has them today in homes, villas, lots and commercial properties.   Bargains are not all at very low prices but did you know that today you can buy a villa near the beach on Hilton Head Island with an ocean view  for less than $100,000  and even $75,000? 

Happy days are here again for buyers.  Consider this inventory of economical villas for sale on Hilton Head Island today:* 

116 villas are for sale for less than $100,000: three of these have three bedrooms; four have one-bedrooms and are located in oceanfront buildings, some with ocean views.  9 of these are two-bedroom villas within walking distance to the beach with a 24-hour security gate, indoor and outdoor swimming, tennis and racketball courts.

68 villas are for sale for less than $75,000: these include four two-bedroom, two-bath villas near the beach and 5 two-bedroom, two-bath furnished villas near the Port Royal Sound beach.

22 villas are for sale for less than $50,000: these include 3 two-bedroom villas with 1,000 square feet in a popular residential villa community with a 24-hour security gate, fitness center, swimming pool and tennis court.  

Some economy villas are suitable as vacation and second home use, but not all.   Buyer motives include personal use only, vacation rental to others, primary home occupancy or lease to someone who lives and works on Hilton Head Island.   Vacation rental owners typically do their own rentals in this price range.  I am happy to teach any owner who would like to know more about how this is done.   ‘Investors’ want cash flow and do not have a personal motive to occupy the property.  If your motive is ‘pure’ investment and not personal occupancy, Go Gated Realty manages long-term rental properties and is ready to help.  Please call about our rental program.  

Generally speaking, vacation rental properties are closer to the beach and tenant-occupied villas are farther from the beach and cost less.   To determine the property that will be best for your needs, please call on me.  I am happy to sort them out and make recommendations based on your needs.    

Whatever your price range or motive to buy, let’s find your super-bargain today! 

*Source: The Hilton Head Multiple Listing Service that requires this disclaimer:  “The statistical data contained herein has not been verified by the Multiple Listing Service of Hilton Head Island, Inc. and the publication of information hereof is not a representation or warranty of any fact whatsoever.”

Richard Kadesch, Owner and Broker-in-Charge The Gated Community Specialist ® Go Gated Realty ® Hilton Head Island, South Carolina Rich@gogated.com www.GoGated.com 1-800-333-5025 Read Some of My Clients’ Success Stories

Foreclosures Continue in the Best Hilton Head Communities 

Sea Pines has two lots and two villas in foreclosure today.

Today most every gated community on Hilton Head Island and Bluffton has at least one home, villa or lot in foreclosure for sale.  The communities include the best: Sea Pines (2 homes, 2 villas), Wexford (2 lots), Long Cove (2 homes, 2 lots), Shipyard (2 villas), Forest Beach (12 villas), Hilton Head Plantation (3 homes, 3 lots) , Indigo Run 2 homes, 3 lots), Palmetto Dunes (1 home, 1 villa), Folly Field (1 villa, 2 lots) and Palmetto Hall (2 lots).  Off-Island, they include  Colleton River, Belfair, Berkeley Hall, Moss Creek, Rose Hill, Hampton Hall, Hampton Lake, Buckwalter communities and more. 

The latest statistics about foreclosures from the Hilton Head Multiple Listing Service* are:

• Homes- today 3.3% of all homes in the Hilton Head area for sale are foreclosures, 81 homes of 2,445 total.  In June, there were 2.9% foreclosures for sale, 80 of 2,779.   On Hilton Head Island alone, foreclosures for sale are only 2.2% of the total, just 22 of 1,000 homes.  
• Villas – today 3.2% of all villas for sale are foreclosures, 37 of the 1,146 total for sale.  In June, 4.3% of all villas for sale were foreclosures, 55 of 1,279.  On Hilton Head Island only, excluding Bluffton, Hardeeville and other areas across the bridge from the Island, 3.0% of villas for sale are foreclosures, 31 of 1,030 total.  
• Lots – today3.8% of all lots for sale are foreclosures, 65 of 1,722 for sale.  On Hilton Head Island, 6.3% of all lots for sale are foreclosures, 26 of 412.  I did not report the statistics for lot foreclosures in June.  

Remember that a great deal is not always a foreclosure!  Look at all properties that meet your needs and have good prices.   To find these properties, search them on gogated.com and gather the information that you want, then connect with a good and experience agent who can help you with your search, answer your questions and advise you about your concerns and set you up with the  Buyer’s Advantage™ system, the best way to monitor the market and find a bargain. 

To get a super-bargain, you must know about it right away and that is what a good agent and Buyer’s Advantage™ does.  There is no better way to monitor the market.  To receive the Buyer’s Advantage™ system without cost or obligation and for more information about foreclosures and good deals of all kinds, please contact me, the Hilton Head Gated Communities Specialist® today!

*The MLS of Hilton Head Island requires this disclaimer: “The statistical data contained herein has not been verified by the Multiple Listing Service of Hilton Head Island, Inc. and the publication of information hereof is not a representation or warranty of any fact whatsoever.”

Richard Kadesch, Owner and Broker-in-Charge The Gated Community Specialist ® Go Gated Realty ® Hilton Head Island, South Carolina Rich@gogated.com www.GoGated.com 1-800-333-5025 Read Some of My Clients’ Success Stories

Sold Unfurnished Near The Beach For $72,500

Bargains seem to be everywhere today and at all prices.  Of course, we all want a luxury bargain on Hilton Head Island and to get one, why not buy an inexpensive property and fix it up to be as luxurious as you want?  You can buy a one-bedroom ocean view condo on Hilton Head Island today from about $100,000 and a two-bedroom ocean view condo from about $140,000.  Others near the beach and without ocean views cost less than $100,000.

I have fixed up an inexpensive condo myself and this is one reason that I can recommend it to you.  Years ago, I bought a bargain ocean view condo at the Hilton Head Resort, fixed it up, rented it out and even moved into it for awhile.   When I built the house where I live now, I sold the villa and made a good profit.  I made and saved money on that inexpensive villa and when I lived there beneath my means and invested the money that I saved elsewhere.   You may not want to rule out this option because it is there if you want it:  small but good, inexpensive, practical, comfortable - and fun!  

Use The Go Gated Buyer’s Advantage™ 

One of my buyer-clients went this economy route recently and bought a super-bargain at the Hilton Head Resort with the help of The Go Gated Buyer’s Advantage™ system.  I highly recommend this system to any serious buyer and to get it, please contact me.  There’s no cost or obligation and it can be worth thousands of dollars to you. 

After my client visited Hilton Head Island and saw the villas that he wanted to see, he went home and monitored the market – for months.  He wanted an economy villa near the beach with two bedrooms.  While he was here, he saw one at the Hilton Head Resort for $99,000 that he liked a lot, a short sale that had been purchased for about $155,000 by the seller at the top of the market in 2006. 

Then one day my buyer called to say that the villa that he saw when he was here had been re-listed as a foreclosure @ $65,000.  We agreed that it was priced very low and we immediately made an offer.  My client out-bid five other buyers and he got the villa for $72,500, cash.   The buyer used funds from his retirement account to make this purchase and the villa is now in his retirement account.  Very cool!

Three Reasons Why This Villa Was Under-Priced

• The location within the Hilton Head Resort is close to the beach.
• The floor plan has a private balcony that some other villas at the Hilton Head Resort do not have.
• The villa had many expensive upgrades like a tiled floors, tiled showers, new bathroom cabinets and fixtures, new kitchen cabinets, stainless steel appliances, granite counter tops and a clothes washer and dryer.  

 Teamwork With Buyer And Agent Means Success

My buyer did his homework and took the time to get a focus on what he wanted.  His determination and my help combined for our success.  This is an example of another super-bargain that will be hard to beat anytime soon and maybe never, despite the fact that the market continues sideways to down and even as other foreclosures come available – and others are still available.  Some deals are just this good. 

Have Fun and Save Money: Fix Up An Inexpensive Condo Near The Beach

At closing, the buyer came to Hilton Head Island, bought great rental furniture locally and made this  economy villa into a comfortable second home.  I don’t know what they paid for the furniture but it was surely less than $5,000 total and so their total cost including furniture must be less than $80,000! 

I took pictures of the newly furnished villa just a few days ago.  This is clearly a super-bargain.  It’s not in Sea Pines but it is next to Palmetto Dunes and with direct walking access to the beach.  The recreational amenities at the Hilton Head Resort where this villa is located include indoor and outdoor swimming pools, tennis courts, racketball courts, spa, exercise center and indoor track.  There is under-building parking, a wi-fi zone in indoor building three and a 24-hour manned security gate. 

For A Super-Bargain, Call Go Gated Realty® 

You don’t have to break the bank to have a second home or vacation villa on Hilton Head Island.   Good ones are for sale for less than $100,000 right now and am happy to show them to you by email or in person at any time.  For more information about the Hilton Head lifestyle on a economy budget and to discuss your real estate plans for Hilton Head Island, South Carolina, please call me, the Hilton Head Gated Communities Specialist® today!  My cell number is 843-684-2933.

Richard Kadesch, Owner and Broker-in-Charge The Gated Community Specialist ® Go Gated Realty ® Hilton Head Island, South Carolina Rich@gogated.com www.GoGated.com 1-800-333-5025 Read Some of My Clients’ Success Stories

Go Gated Realty Helps You Find Your Best Mortgage Product

Go Gated Realty is all about service and expertise in all areas of Hilton Head real estate and this includes knowing which lenders have the best loans for the real estate that you want.  We work regularly with many Hilton Head area mortgage lenders so that our clients get the best Hilton Head loan products and rates available and no one lender is right for all borrowers.   While most all Hilton Head lenders offer low and competitive interest rates, these same lenders will be more or less attractive depending on what you buy.   Buyers who have specific needs catered to by different lenders include:

• Hilton Head first-time home buyers 
• Hilton Head Jumbo loan borrowers
• Hilton Head non-conforming property buyers
• Hilton Head Canadian home buyers
• Hilton Head commercial property buyers
• Hilton Head ‘investment’ property buyers
• Hilton Head building site (lot) buyers

A good Hilton Head Buyer’s Agent knows how to save your time and help you find the mortgage that you want.  To find the property you want and help with the best loan, call me, the Hilton Head Gated Communities Specialist® today!  My cell number is 843-684-2933 and my email is below.

Richard Kadesch, Owner and Broker-in-Charge The Gated Community Specialist ® Go Gated Realty ® Hilton Head Island, South Carolina Rich@gogated.com www.GoGated.com 1-800-333-5025 Read Some of My Clients’ Success Stories

Hilton Head Mortgage Rates On 8/25/09

The Hilton Head interest rates quoted below were given to Go Gated Realty® by one Hilton Head area lender today and are similar to interest rates offered by other various Hilton Head mortgage lenders.  Go Gated Realty stays informed about local interest rates so that we can make sure that our clients are advised about the best loan products and interest rates for their needs.

**quoted with no points

30year fixed Conforming**                                                                                              5.0%  (4.75% w/1pt)

15 year fixed Conforming**                                                                                             4.5%  (4.25% w/1pt)

5/1 Interest Only**                                                                                                           4.25% (4.0% w/1pt)

5/1 ARM Jumbo**                                                                                                              4.5% (4.25% w/1pt)

30 year fixed Jumbo                                                                                                           6.125% (5.875% w/1pt)                   

Lot Loans to 70% LTV                                                                                                         7.0%

FHA **                                                                                                                                   5.25%

VA**                                                                                                                                      5.375%

RD**                                                                                                                                      5.5%

90% Jumbo loans

96.5% financing available up to a $401,500 purchase price through FHA.

Construction loans up to 90% of subject to completion value

In recent months, interest rates have been pretty steady and generally low.  Over time, these rates are forecast to increase.  Work with an agent who can help you find the best loan for you as well as the best property for your needs.   To benefit from my 34 years of Hilton Head Island real estate experience, please call me, Richard Kadesch, the Hilton Head Gated Communities Specialist® today.   My cell number is 843-684-2933 or email rich@gogated.com.   

Richard Kadesch, Owner and Broker-in-Charge The Gated Community Specialist ® Go Gated Realty ® Hilton Head Island, South Carolina Rich@gogated.com www.GoGated.com 1-800-333-5025 Read Some of My Clients’ Success Stories

 

 

 

Economical Luxury, Just Listed for $359,000 in Hampton Hall  

8 Ashford Place in Hampton Hall was just listed witih Go Gated Realty for $359,000.

Hampton Hall Has Fitness, Indoor Swimming, Tennis and Optional Private Golf

Hampton Hall is one of Hilton Head’s best gated private golf communities, located just eight miles from Hilton Head Island in Bluffton, South Carolina.  It has a Pete Dye championship golf course, clay and hard tennis courts, a heated indoor swimming pool and a large outdoor pool, a spacious fitness center with fitness staff, a 22,000 SF community clubhouse that opened in 2007, two security gated entrances and affordable luxury and custom homes from the bargain price of $289,900.   Hampton Hall is a new community that opened in 2005.  

#8 Ashford Place Was Just Listed with Go Gated Realty @ $359,000.

Go Gated Realty has just listed #8 Ashford Place, a Carolina Home in Hampton Hall for $359,000.  The home has a lake view and brick facing on the front.  it is ideal for anyone who wants a ground level home with no steps with 2,300 square feet of living space, three bedrooms plus a den, two bathrooms, large screened back porch and a two-car garage.  It has a wood foyer and hallway and tiled kitchen and bathroom floors.

The home has a large screened porch.	Lake views from most rooms of the house.

The master bedroom is plenty big enough for a king bed and two end tables and the master bathroom has dual vanities with granite counter tops, a separate soaking tub and shower with cultured surround and a walk-in closet. 

The kitchen has custom cabinetry, granite counter tops and an eat in breakfast area.  The dining room is open to the living area with a tray ceiling and custom trim. 

Call The Gated Communities Specialist® To Search and Compare

You cannot duplicate this home for the price.  To compare this luxury home it to all others in Hampton Hall or other communities, please call me today!  My cell phone is 843-684-2933.

Richard Kadesch, Owner and Broker-in-Charge The Gated Community Specialist ® Go Gated Realty ® Hilton Head Island, South Carolina Rich@gogated.com www.GoGated.com 1-800-333-5025 Read Some of My Clients’ Success Stories

The Only Foreclosure Lot In Indigo Run Today

The entrance to Berwick Green	The subject lot is a foreclosure @ $99,900.

Indigo Run is a Jack Nicklaus gated golf community on Hilton Head Island with two 18-hole championship golf courses and Berwick Green is single street enclave within Indigo Run is walking distance to both the Golf Club and the Golden Bear club houses; Berwick Green also has its own neighborhood swimming pool.  

Lot 48 Berwick Green is a .35 acre pie-shaped lot with a wooded and partial golf view located at the end of Berwick Green Drive that has no through traffic, on the cul de sac immediately next to the Berwick Green neighborhood swimming pool.  Behind lot #48 is a ‘green belt’ of community-owned land.

The Berwick Green community pool	Leaving Berwick Green on Berwick Drive

Foreclosure lot #48 listed with Go Gated Realty for $99,900, formerly listed  for $135,000 with another agency before it went into foreclosure.   The lowest price lot for sale in Indigo Run was $129,000 and the price on it has now been lowered to $99,000 – determined to be the low price.   One foreclosure can make a difference; in this case an asking price of 36% less for foreclosure lot #48 and 30% less for the other lot. *

These two lots are the only lots for sale in Indigo Run today for less than $100,000 and after one other lot for sale at $139,000, there are 29 other lots for sale in Indigo Run today with prices from $159,000 to $999,000 for an average asking price of $316,000.  Two lots sold in Indigo Run in the last 90 days for $200,000 and $250,000.   There are very few lots for sale for less than $150,000 for on Hilton Head Island today.  By several measures, foreclosure lot #48 Berwick Green is a real bargain.

Build Your Custom, Luxury Home in Indigo Run

Meet the neighbors.  This home has 3,381 sf and is for sale for $799,000.	Immediately next to foreclosure lot #48, this home has 3,111 sf and is for sale today for $639,500.

Two homes are listed for sale today in Berwick Green, at $639,5000 and $799,000.   One of these homes is immediately next door to the Indigo Run foreclosure lot #48 and the other house is a few doors away.   If you would like to build a home like either of these that have 3,111 square feet and 3,381 square feet of living space, you could save about $64,000-$180,000 respectively and have a brand new home built to your specifications, with the latest building materials and appliances.   I am a former licensed South Carolina Home Builder and I will be happy to walk you through the building process and connect you with excellent builders who build at low prices.

But what if you cannot buy a home now because you have to sell the one that you have first?  It may be that you cannot afford to have two homes at one time but perhaps you can afford to buy a lot and build later when you sell the house that you must sell first.   A low-priced lot like Indigo Run foreclosure lot #48 makes this very attractive, locking in your savings forever.

To see and compare the foreclosure lot #48 in Berwick Green, Indigo Run, please call on my cell phone at 843-684-2933 or email rich@rkrealty.com. 

*These numbers were taken from the Multiple Listing Service of Hilton Head Island that requires this disclaimer:  “The statistical data contained herein has not been verified by the Multiple Listing Service of Hilton Head Island, Inc. and the publication of information hereof is not a representation or warranty of any fact whatsoever.”

Richard Kadesch, Owner and Broker-in-Charge The Gated Community Specialist ® Go Gated Realty ® Hilton Head Island, South Carolina Rich@gogated.com www.GoGated.com 1-800-333-5025 Read Some of My Clients’ Success Stories

 Save Big Money When You Build Your Hilton Head Custom Home

Buy a resale home listed for $799,000 like this one in Indigo Run with 3,381 sf.	Or buy this Indigo Run foreclosure lot for $99,000 and build a custom home @ $155/sf and save $175,000.

Everyone knows that  low priced Hilton Head homes and villas are outstanding values now, but even greater savings are possible when you buy a low-priced building lot and build your custom, luxury home.  It’s an option that you may want to consider, especially if you want a new house, designed and built to your own specification with new appliances and the latest building materials.  

You may not be able to buy a home now on Hilton Head but you may be able to afford to buy a lot, locking in some good savings when you build at a later time.  And, lots have traditionally been very good investments based on their high demand and diminishing supply.  

You Can Save $50,000 And More When You Build

• The prices of many Hilton Head building lots have fallen drastically in the last two years.  Among the low-priced lots are foreclosures, short sales and lots that just must be sold.
• The same things that have inhibited more sales of real estate have brought the slow sales of lots.  These include the economy generally and the low demand for building.
• Low demand for building means that Hilton Head home builders are eager for work and their prices are much lower than they used to be.  Quotes of $225/sf are not commonly seen as $180/sf and some builders will build at about $150/sf. 

Big savings are not a sure thing when you build a house but it can be an attractive option that can save you some big money but you have to know about the possibility.  Of course, some people (like me) would prefer to design and build a new house and get exactly what you want.  Today, despite the low prices of many Hilton Head homes, including foreclosures, you can save $50,000 or more when you build rather than buy a resale home.   

Lot Prices and Sales Decline From March 2007 to March 2009

Let’s take a quick look at the downward trend in Hilton Head lot prices.  The chart below compares the numbers from March of 2009 and compares them to March of 2008 and March of 2007.  The numbers in the chart were taken from Hilton Head Multiple Listing Service statistics* and they show a substantial decline in home site prices by half in just the last two years and a decline in the the number of lots that have sold by 75%! 

These numbers are just averages; while the average price of $163,000 is very good compared to previous years when similar lots were selling for $350,000 and more, we want a bargain, a lot that costs less than the average of $163,000 and even as low as $17,500!   We want some pay dirt!

Some Hilton Head gated communities with building lots for sale for less than $150,000

• Belfair with 39 lots for sale for less than $150,000 and with lots from $17,600.
• Berkeley Hall with 19 lots for sale and with lots from $19,500.
• Colleton River with 37 lots for sale for less than $150,000, with lots from $30,000.
• Folly Field with 2 ocean-oriented lots for sale for less than $150,000..
• Hampton Hall with  58 lots (!) for less than $150,000, with lots from $29,900.
• Hampton Lake with 9 lots for less than $150,000, with lots from 98,000.
• Hilton Head Plantation with 2 lots for ale for less than $150,000.
• Indigo Run with 3 lots for sale for less than $150,000 with lots from $99,000.
• Palmetto Hall with 3 lots for sale for less than $150,000.

As I said before, having options is good and you want to work with a real estate agent who can help you to compare communities, resale homes within these gated communities and others and compare building lots,  building costs and builders if the alternative is right for you. 

Savings Can Begin With A Low-Priced Building Lot

Here are some possible savings when building instead of buying a resale home:

• A home in Belfair with 2,861 sf for sale today @ $569,000 lot can be built @ $155/sf = $443,500, plus $17,500 for the lot = $461,000.  Let’s assume that the house can be bought for $550,000; the savings would be $89,000, or 16% less.  
• A home for sale in Indigo Run with 3,111 sf is listed for $639,500 right next to a foreclosure lot that was just listed with Go Gated Realty for $99,900.  Assume that the house can be bought for $625,000, consider building a new house instead with 3,111 sf on the lot next door @ $155/sf = $482,200, plus $95,000 for the lot for a total of $577,200 and a savings of about $62,300, or 10% less.
• A home in Hampton Hall is for sale @ $579,000 with 4,200 sf.  Even at $150/sf, the cost to build would be $630,000 and then you have to buy a lot, so in a case like this, buy – don’t build.  You achieve a substantial savings when you buy resale on this home.

Go Gated Realty is the Hilton Head Gated Communities Specialist®

For anyone who is interested in getting the best deal for a custom home in one of Hilton Head’s outstanding gated communities, please call me at the contact information below or on my cell number, 843-684-2933.  I am a former licensed South Carolina Home Builder who loves to compare homes, lots and communities.  We will find the home that you want or build one, even if it will be built in the future and save you money!

*This disclaimer is required by the Multiple Listing Service of Hilton Head Island:  “The statistical data contained herein has not been verified by the Multiple Listing Service of Hilton Head Island, Inc. and the publication of information hereof is not a representation or warranty of any fact whatsoever.”

Richard Kadesch, Owner and Broker-in-Charge The Gated Community Specialist ® Go Gated Realty ® Hilton Head Island, South Carolina Rich@gogated.com www.GoGated.com 1-800-333-5025 Read Some of My Clients’ Success Stories