Posts Tagged ‘Hilton Head real estate’

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

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

New Conventional Mortgage Rate Is Only 4.875%

Hilton Head conforming 30-year fixed rate mortgages are available now @ 4.875% with no points and 4.5%  with one point.   Hilton Head Jumbo fixed rate mortgages are available for 6.375% with no points.  It may be worth saying the obvious, that lower interest rates mean lower payments for you at the same loan amount.  You save a lot of money with lower interest rates.   

Many parts of our economy have a lending crisis but at the same time, Hilton Head banks have plenty of money to lend to qualified buyers at the lowest rates that I have ever seen for conventional mortgages.  Look at these low rates from one Hilton Head bank, quoted today with no points:

• 4.875%     30-year fixed, conforming**
• 4.625%     15-year fixed, conforming**
• 4.75%       5/1 ARM Jumbo** 
• 6.375       30-year fixed jumbo**
• 7.00%       Lot loans to 80% LTV
• 4.875%     FHA** 
• 5%            VA** 
• 5%            RD** 

**Quoted with no points.

Today, qualified buyers have very low interest rates, low prices and a great selection of Hilton Head real estate.  To discuss the best loan for the property you want, please call on the Hilton Head Gated Communities Specialist® to connect you with a good lender 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

Opportunity Knocks For Hilton Head Real Estate Bargain Hunters

This is the time to buy prime Hilton Head Island real estate at bargain prices.

Hilton Head Real Estate will always be valuable and Hilton Head Island is one of the most popular and highest quality vacation and residential communities in the United States.  If you want to own real estate on Hilton Head Island, you will want to have bragging rights to the great property that you bought when prices were low – and that is right now.  Warren Buffet is credited with saying: “Be greedy when others are fearful.  Be fearful when others are greedy”. 

Anyone who takes advantage of a distressed Hilton Head Island real estate market is smart in my opinion, not greedy but the saying underscores the advantages you have as a buyer today:

• Low prices
• Great selection
• Historically low interest rates
• Negotiable, distressed sellers
• Low competition from other buyers

It is understood that we do not want to overpay for any property but instead, we want to buy at a low price and hedge our purchase against the possibility of an even lower price.   In some areas of Hilton Head, we see new low prices.  In other areas, we see prices firming up.  In all areas, there are great opportunities for bargains. 

My clients are purchasing distressed properties right now and we are finding some excellent properties greatly reduced prices compared to just three to four years ago.  The value of a good buyer’s agent assisting you is as important as ever to insure that your interests are represented and that you get the best deal. 

Difficult Times Scream With Opportunity

To inquire about the property you want, the community of greatest interest to you or about your plans in any way, please call me toll free 1-800-333-5025 or email today rich@gogated.com.  My cell phone is 843-684-2933.  I will be glad to review the part of the market that interests you and review your plans to determine why this should be an ideal time to you to buy a retirement home, foreclosure, second home or vacation rental villa on Hilton Head Island.

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 can mean low purchase prices and good profits on resales.  That’s something to get excited about!  There are some Hilton Head foreclosures right now but how do you find them?   There are foreclosure services that charge a fee to display foreclosures in your area of interest (not necessarily an up to date list) and also provide the e-mail addresses of the agents who have the foreclosures.  This can be helpful but it is not necessary.  It is definitely not the best way to buy real estate.  In my opinion, the best way to buy real estate, including foreclosures, preforeclosures and distressed  properties is to search the Hilton Head Multiple Listing Service for the property you want and work with a Buyer’s Agent.  All of these properties and more are listed with the Hilton Head Multiple Listing Service.  You can search all available MLS listings at any time or you can ask your Agent to do it for you.  True, the MLS does not categorize listings as  foreclosures, preforeclosures or distressed, but this information is given in every listing.       

I have owned Hilton Head foreclosures that have been great deals but I can assure you that that just because a property is a foreclosure, it is not automatically your best buy.  Price is important but so are location, quality and use.  I’ll come back to this, but first let’s define the kinds of properties that can be bargains:         

• Distressed properties have owners who must sell for a variety of reasons.  This does not mean that the property itself is ‘run down’ but it could be.  The properties are listed in the Hilton Head Multiple Listing Service and priced as low as possible for a quick sale.        
• Preforeclosures have owners who have missed some bank payments.  Many owners who bought at the ‘top’ and saw their adjustable payments increase also saw market prices fall.  It’s a real problem when an owner cannot afford their payments but cannot take a loss.  Preforeclosures are an urgent selling situation and they are always listed with the Hilton Head Multiple Listing Service at the lowest  possible price to optimize a fast sale.  The sale of a preforeclosure is often be accompanied by a negotiation with the lender to restructure or forgive the seller’s debt that exceeds the purchase price and closing costs. 
• Foreclosures are properties owned by banks after they have have bought them on the courthouse steps.  This is because the owner defaulted on their loan and the bank has bought the property to protect their investment.  Banks list their properties (called REOs for real estate owned) with agents of the Hilton Head Multiple Listing Service.  A foreclosure is typically listed among the lowest prices on the market but not always.  It depends on the mortgage balance the the willingness of the bank to take a loss.  
• Properties with eager sellers are worth noting even though they may not be distressed at all but some sellers can beat the market if they want and still make a good profit.   I have been to auctions where some of the properties sold for more than listed properties with the MLS.  Had the buyers checked out the listings they could have bought for less and with better terms.   

Here are some reasons why foreclosures and distressed properties may not be your best deal: 

1) Foreclosures and distressed properties don’t always have the lowest prices.  The price is dependent on the sellers ability and willingness to take a loss and this includes banks.  When a bank tries to recover a high mortgage balance, attorney fees and other closing costs, whey may not offer the lowest price on the market.   

2)  The location of the property may not be the best for your intended use.  Compare the location of similar properties to see if what you really want is worth the premium.     

3) The condition of the property may be a problem.  The owners of distressed properties often don’t have the money to maintain or improve their properties.  Even when they sell their properties, they may not be able to pay for needed repairs as part of the sale.  Foreclosures are always sold ‘as is’.  This means that you must purchase with the right of inspection and even then, you will be paying cash for the repairs unless your lender will finance them with the purchase.

4) Other concessions you want may be refused.  In a standard purchase, many concessions are negotiable.  With foreclosures and distressed properties, a buyer may be refused concessions that include repairs but also they can include improvements, closing costs, assessments, regime fees and taxes as negotiated and allowed by the lender.  

5) Taxes go with the property so you want to make sure that they are paid at closing and that you are not buying a property and also a tax debt or some other lien that must be satisfied on sale.   

For any property you  want, you are wise to have an experienced Buyer’s Agent represent you.  Keep in mind that the listing agent of foreclosures and distressed properties represents the seller, just like with any other property.  You will benefit from an experienced agent’s opinion about the suitability of the property for your needs.  Your agent can compare the subject property to similar properties on the market and others that have sold.  Good agents earn their commissions with their skills and knowledge that save your time and money.  They are paid at closing by a commission that is already in the price of every listed property.  All things considered, it’s a no-brainer to have a good Buyer’s Agent working for you.       

To search and purchase any Island property, please call on me.  Remember, foreclosures are not the only good deals out there.  Nobody should overpay but sometimes quality and location are worth a premium.  This is a great time for a buyer to be in the Hilton Head real estate market.  Foreclosures and distressed properties are among today’s opportunities.         

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

1. Interest rates are very good today.  
2. You will get the best rates and terms that the banks have to offer.  
3. Tighter lending means fewer qualified buyers to bid against you for the real estate you want.   
4. Today’s market has some low prices and eager sellers ready to take an offer.  
5. Inventories are high and your selection is excellent.    

 If you would like to discuss loan products and prequalify at no obligation withAmeris Bank, contact Sperry Kaler at sperry.kaler@amerisbank.com or call him at 843-301-1325. 

 

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