The real estate market is heating up on Hilton Head Island and the surrounding Lowcountry.
If you have ever thought about owning property on the Island, now may be the perfect opportunity. Whether you are looking for a primary residence, second home or investment property, our market is primed for buyers to succeed!
Why Hilton Head Island?
Well, for one thing, just take a look around. Our 12 miles of sandy beaches, moderate climate, abundant wildlife and in-keeping-with-nature architecture truly make Hilton Head Island a special place.
We are also part of a natural migration of Baby Boomers looking to retire to warmer climates.
Hilton Head Island is nearing a point of being built-out, which will help to drive prices up in the future. In addition, as other areas just get more and more commercialized, Hilton Head Island will always retain some of its natural charm due to regulations put in place years ago.
Market Update
Year-to-date, our market is showing increased sales over the year prior, although sales prices and overall inventory have decreased slightly. As of this magazine going to print, we are seeing a decrease in interest rates, as well.
Fannie Mae HOMEPATH properties allow for putting little money down, no mandatory appraisal, plus incentives. For properties requiring repairs, HOMEPATH has a renovation loan option, as well.
The Palmetto Heroes Loan Program is targeted at law enforcement officers, teachers, firefighters, veterans, nurses and EMS personnel that reside in SC. It offers low-interest home loans to current first-time buyers. It also offers a down payment assistance program.
Why Now?
Low prices combined with a drop in interest rates and a decreasing inventory means now is a perfect time to buy.
If retirement to the Island is still a distant dream, second home ownership might be the way to go. A second home provides an opportunity to enjoy your home now. And, you can rent it out during your absence to offset expenses.
You can always find a reason to put off making a decision. But, if you have fallen in love with the Island and want to create more lasting memories here, then don’t hesitate to buy.
By Carey North
Contact Carey North at Palmetto Sands Realty to help you find the property which best matches your needs. 843-384-6402 or www.careynorth.com.
