Archive for May, 2009

Front entrance with no steps to #10 Townhouse Tennis III in Shipyard.

Just Listed:  #10 Townhouse Tennis III

#10 Townhouse Tennis was just just listed with Go Gated Realty®, the Hilton Head Gated Community Specialist®.  It is in like-new condition and especially desirable with:

• Beautiful water and golf views from the living room, kitchen, both back bedrooms and the patio.
• The entire first floor is tiled: foyer, kitchen, living-dining area, two bedroom and two bathrooms. The upstairs master bedroom bath also has a tiled floor. The kitchen has granite counter tops.
• The villa is sold completely furnished, including area rugs.
• 1,750 SF of living space.

The location, size, features and quality make this townhouse attractive to anyone who wants a vacation rental property, a second home or as a primary home on Hilton Head Island.  

The water and golf view from the back of #10 Townhouse Tennis III in Shipyard.

 First floor Master Bedroom, Water and Golf View

Buyers who want a luxury home near the beach on Hilton Head Island will want to look at #10 Townhouse Tennis Villa in Shipyard.  It compares well to other three-bedroom homes or vacation rental villas because:  

• the master bedroom and second bedroom on the first floor and there are no steps for entry to the home.  This is often preferred by Hilton Head retirement and pre-retirement buyers but is attractive to everyone.   
• the outside maintenance and services are provided by the villa association.
• Townhouse Tennis Villas are the only Shipyard villas to have carports. 
• a large storage room is attached to the carport.
• Townhouse Tennis Villas are the only villas in Shipyard to have private clay tennis courts.
• quiet community swimming pool.
• pets are allowed for owners.
• great back patio and front courtyard.
• outside barbecuing is allowed.
• located in Shipyard with private beach access, a gated community with two 24-hour manned security gates.  To read more about Shipyard, see below.  

This Shipyard townhouse is sold completely furnished and is ready to use or rent.

Located In Shipyard on Hilton Head Island

Shipyard is one of Hilton Head Island’s most popular vacation and residential gated communities, located on the south end of Hilton Head Island, between Sea Pines and Palmetto Dunes, defined by a beautiful scenery of lakes and semi-tropical foliage, high quality villas, custom homes, a golf club, tennis club, the Crowne Plaza Hotel, private beach access and two gated entrances.  

The Shipyard private beach access is next to the Crowne Plaza Hotel.  The Hotel offers short and long-term memberships to their fitness center, indoor swimming pool, has restaurants and business meeting environment by day and nightlife environment by night.

The Shipyard golf club has three 9-hole courses, is open to the public and offers optional memberships.  The golf club has a teaching program, full pro shop and a restaurant. 

Shipyard is home to the Van Der Meer Tennis Center with 20 tennis courts: 13 Hard Tru, 7 hard, 8 lighted and 3 indoor.  The Center offers teaching programs to players of all levels and a tennis academy for teachers.

Shipyard has two security entrances to the community:  one on Pope Avenue and another on the William Parkway. 

Hilton Head Luxury Villa  - Moderately Priced

At $434,900,  #10 Townhouse Tennis III is priced relatively low.

• The average price of all three-bedroom villas for sale in Shipyard today is $444,000.
• Few villas for sale today have both water and golf views.
• Only Townhouse Tennis III villas have carports.
• All homes in Shipyard cost more today than #10 Townhouse Tennis and one of the homes that costs less does not have a carport or garage!

The cost of ownership will include, in addition to any finance cost:

1. the monthly regime fee of $411.  This includes water and sewer and  maintenance of the common areas and amenities, trash pick-up and pest control.
2. $2,600 per year for hurricane, fire and flood insurance.
3. utility costs for electric, cable and telephone. 
4. property taxes, approximately  $2,200/year as a second home and much less as a primary home.
5. Shipyard annual POA of $780.

The owner paid $565,000 for this property in March of 2006 and he will take a loss on this property to buy an even larger second home on Hilton Head Island at today’s depressed price.  This is a perfect example of price capitulation that creates a window of opportunity for the right buyer.  To look more and compare the location, view and features of this Shipyard luxury home with any other, contact Richard Kadesch today!

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 wide variety of Hilton Head homes and villas are listed as short sales today.

What Is a Short Sale?

Short sales are abundant among Hilton Head real estate listings these days but many buyers do not know what they are.  

A ’short sale listing’ is one that has a market value less than the mortgage owed plus closing costs.  In other words, the owner owes more than the home is worth. 

To sell, the property must be listed for less than the mortgage amount plus the closing costs and whoops! – the seller will owe money at closing, not receive money.   Some sellers are ready, willing and able to take the loss and if so, that’s not an issue for the buyer.  However, if the seller cannot take the loss at sale, the bank must agree to take the loss with the motive of avoiding a foreclosure.  I see more and more properties listed today as short sales with large losses that banks are not willing to take outside of the foreclosure process.    

Short sale listings can be uncertain for both the buyer and the seller because many sellers do not know if their bank will allow the short sale to occur!  The Seller and seller’s agent can lead a buyer on with the hope of a low-priced sale that will probably not happen because:  

• the bank is not willing to take a short sale loss. 
• the seller will not or cannot pay any part of the loss to the bank.
• the seller has not demonstrated an acceptable hardship to the bank. 
• the bank begins foreclosure before a short  sale offer comes in.
• the bank may prefer foreclosure rather than a short sale.  

For these doomed short sale listings, a buyer who makes an offer can wait for an acceptance from the seller’s bank that does not come quickly or at all.  While waiting, the buyer can miss out on other good buys are can be sold without delay.  

Recently I have seen listings where the agent has written to other agents: ”Don’t waste your time.  The bank does not respond”.   Recently I called an agent to ask about his short sale listing and had it gone to foreclosure because it was listed so long ago.  He told me that that bank had refused to respond to good offers for the property and that he should probably withdraw it from the market – but it was still listed as a short sale.  The property was withdrawn soon after our discussion and other short sales are withdrawn when agents learn that they are wasting their time and ours for various reasons.

When owners do not make mortgage payments for 90 days, banks usually begin the foreclosure process.    This can further complicate a short sale negotiation and some banks have one division to deal with distressed properties and short sales and another division that deals with foreclosures.   The short sale division may not be able to discuss a property during the foreclosure process and finally, the bank often prefers to foreclose rather than agree to a short sale.  Sorry- I can’t explain this fully but I know that it happens.  During the time that a property has gone from being a short sale to a foreclosure, it still owned by the seller and remain on the market listed as a short sale! 

Get The Facts Before Offering

This is not to say that short sales do not happen or that they are always a waste of time or that you should not be interested in them.  But, before you take your time to offer on a short sale listing, you should try to find out:

• If the loss that the owner and/or bank must take to allow the sale is large or small.
• Has the bank agreed to take the loss and allow the sale?
• Is the Seller willing and able to take some of the loss?
• Has the bank started foreclosure on the property?

The answers to these questions will tell you much more about how much uncertainly you can expect with an offer.  You don’t want to waste your time on a shaky short sale while another desirable property that you could have had sells to someone else.  As always, a good agent can investigate and hep you evaluate the situation and the options available to you.  

Receive All Hilton Head Area Short Sale Listings Without Cost or Obligation

If you would like to have a list of short sale properties, foreclosures or other properties, without cost or obligation, please let me know.

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