Hilton Head Real Estate
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|Bluffton is the fastest growing city in South Carolina, with over ten public and private signature golf courses. Located across the bridge from Hilton Head Island, if offers an excellent alternative for golf oriented homes, villas,condos and lots. Search all real estate listings Bluffton has to offer!
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Hilton Head Island, SC 29926
The Hilton Head Island real estate market offers a wide selection of homes, condos and lots in all different price points. Real estate in Hilton Head is priced based on location: the closer you are to the water, the more valuable the property. Since Hilton Head Island is 12 miles long and 5 miles wide, water and view have a lot to do with real estate prices. Most of the houses, villas and homesites for sale are in resort destinations with large water features. The Atlantic Ocean and the Intercoastal Waterway surround Hilton Head Island. With water all around, Hilton Head real estate is highly desirable and prices reflect consumer demand.
Below is a list of definitions for different Hilton Head real estate entities involved in almost every real estate transaction.
Hilton Head Island Foreclosures: The new "buzzword" & requests in Real Estate right now is "I'm looking for a foreclosure or short sale." The truth is foreclosures and or short sales are not necessarily the best deals out there. Short sales are distressed properties that, more often or not, were purchased in the "peak buying years" of 2005 or 2006 & for whatever reasons, unfortunately, the seller needs to sell now. They owe more than the property may be able to sell for under contract & they are "short" of funds to pay the mortgage off to the bank. Needless to say, the banks are getting "swamped" with short sales & can't keep up with the process. That's one reason why if an offer is submitted to the bank, it may be months before the bank even responds or acknowledges the offer. There are "Major Hoops" to jump through on these deals. Some issues to consider during the "waiting period" are that if you need financing, the interest rates may go up during the process, or if you have locked a low interest rate, it may expire before the closing. Another issue is, unfortunately, when sellers realize they are "in trouble" & need to do a short sale (or worse yet it goes into foreclosure) they may not be able to keep up the property properly & you need to know ~ you are buying these homes & condos "AS IS" with no repairs or warranties being done. That is a major issue when buying a property.
More importantly, why buy a distressed Hilton Head Island Short Sales or foreclosure properties if you can get a better deal with a "normal" property for sale? One very important factor is there are many properties listed for sale that were purchased well before the "higher buying times" of 2005 or 2006 & the seller owns the properties for less & the mortgage (if any) is less. These sellers can afford to sell their properties for even Less than a short sale or foreclosure. By buying one of these properties, you can close in a "normal" period of time ~ (so you can use it more or bring in more rental income sooner!) & not having to "jump through all the proverbial hoops" & repairs can be made & warranties would be in place.
Perspective Buyers shouldn't be "locked in" to only short sales or foreclosures ~ they should be Locked In to GREAT BUYS!
Hilton Head MLS: The Hilton Head Multiple Listings Service (MLS) is an alliance of licensed real estate brokers who share access to their individual listings for sale or lease. Every member of the MLS is bound to the same terms as the listing's initial broker. The MLS is a great first place to look to find Hilton Head Island properties for sale or lease.
Agents: Hilton Head real estate agents are licensed and regulated by the state of South Carolina. They operate under the supervision of a Broker-in-Charge. Prescribed educational standards for licensure ensure that any agent has completed the required education before taking the exam and receiving a license. Continuing education is also required.
Brokers: Real Estate Brokers are real estate agents with additional experience and advanced education who have passed South Carolina's rigorous Brokerage exams. To become Brokers-in-Charge they must also participate in higher levels of licensing regulation, such as scrutiny of their financial dealings.
Realtors® v. real estate agents: Realtors® are licensed real estate agents and brokers who are also members of the National Association of Realtors® (NAR), and who are bound to abide by the Association's strict Code of Ethics.
In case you're interested in buying Hilton Head Island real estate, we've compiled some recent property prices for you for real estate listings on the Hilton Head MLS:
The lowest listed condo/villa is a 2 bedroom/2 bath furnished "condo-tel" unit at Forest Beach; the highest priced condo/villa was unfurnished at $3.2 million, in one of the plantation communities.
The lowest priced developed buildable lot lists for $35,000. This is an off-plantation townhouse lot where utility hookups are in place and the road is paved. A lower-priced lot in a subdivided but undeveloped off-plantation area is available for $20,000. The most costly buildable lot is on the market for almost $6 million. It is an oceanfront parcel in one of the resort plantations. There is also a large (38 acres) undeveloped parcel with the potential for subdivision that has been offered for sale at $27 million.
The least expensive listing for an unfurnished single-family home is an off-plantation townhome for $124,900, while the most expensive estate is located on an oceanfront lot inside a plantation for $7,775,000 (unfurnished).