Buying a Home? 4 Things You Should Know About Home Appraisals

Be the first to comment on this post Categories: Hilton Head Main

home mortgageAs you might already know, summertime is a very busy time for real estate agents. That’s why so many home buyers decide to enter the market during this time of year.

If you too are a prospective home buyer planning to enter the market soon, then you’ve visited the right real estate blog!

Today, we’re going to share four things that every home buyer should know about appraisals.

What Are Appraisals and Why Are They Important?

An appraisal is the valuation of a property by the estimate of an authorized person.

These are particularly important for those who will be taking out a loan on their next home.

And unless you’re independently wealthy (or have been successful in building a sizeable savings account), you will more than likely end up requesting a loan.

When you ask for that loan, banks reference your home’s appraisal as a way of deciding how much to give you. That’s why appraisals are so important.

Consider this example: Let’s say you make a purchase offer on a home for $120,000. You need a loan for exactly that amount.

However, when the appraisal comes back, it says the home is worth only $100,000 – and the bank isn’t willing to give you a penny more.

This means that you’re faced with a $20,000 budget gap. And that’s enough to kill many a real estate deal.

But Don’t Worry – We Can Help!

Here is some valuable information on appraisals that may help you avoid unfortunate situations like the one above:

Appraisers must meet certain criteria first. According to the Appraisal Institute, a qualified appraiser should be licensed or certified and also should be familiar with the local area. What’s more, federal regulations stipulate that the appraiser must be impartial and have no direct or indirect interest in the transaction. Fannie Mae even requires that appraisers certify that they have experience appraising similar properties in the same area.

Appraisal values are influenced by a number of factors. For instance, appraisers will consider recent sales of similar properties as well as current market trends. They’ll also factor in such things as the home’s amenities, number of bedrooms, floor plan functionality and more.

Appraisers are required to do a complete visual inspection of the interior and exterior of the home. During this time, they’re also required to note any conditions that may adversely impact the property’s value. This may include needed repairs.

Generally speaking, appraisers use Fannie Mae’s Uniform Residential Appraisal Report for single-family homes. This report asks the appraiser a number of questions, including what the home’s interior and exterior look like, what neighborhood it’s located in and what nearby comparable sales there are. Other parts of the report include: a street map showing the appraised property, an exterior building sketch, an explanation of how the square footage was calculated, and photos of the home. After providing all of this information, the appraiser offers an analysis and conclusions about the property’s value based on this information.

We’ll Help You At Every Stage of the Home Buying Process

We hope you found the above information insightful as a prospective home buyer.

Hopefully, if all goes well, the appraisal on your next home will go smoothly and you’ll be that much closer to owning your own home.

For EVERY stage of the home buying process, we want you to know that we’ll be there to assist you in order to make the experience as seamless as possible. Contact us today to learn more about the services we provide and the valuable advice and insight we can offer.

House sales are HOT this summer on Hilton Head!

Be the first to comment on this post Categories: Communities and Areas, Hilton Head Main, Market Trends and Information

Happy House Hunting Hilton HeadWhen it comes to Hilton Head home sales this summer, buyers are not waiting for their next trip.  There has been a 25% increase in home sales on Hilton Head Island this June compared to last year’s June.  Off Island(over the bridge), home sales jumped a whopping 53% over the same month last year.  All bets are off as inventories start dropping and interest rates start moving…in the meantime, Happy House Hunting Hilton Head!  Read the rest of this entry

The Best Places for 4th of July Fireworks on Hilton Head

Be the first to comment on this post Categories: Communities and Areas, Food, Fun and Festivals, Hilton Head Main

Where can I watch the fireworks on Hilton Head Island?There are three firework displays on Hilton Head and incredible places to watch them.  The 4th is big on Hilton Head and the fireworks in the Low Country can be seen miles away.  This years 4th of July firework displays will take place in Harbourtown, Shelter Cove and Skull Creek Marina.  But watch the horizon and see how many you can see!

Read the rest of this entry

Summer Market Update 2015

Be the first to comment on this post Categories: Hilton Head Main

Hilton Head Market Update July 2o15:

North end and Bluffton brokers are busy! Because baby boomers are rushing into their retirement after sitting on the fence through the recession!  South End Brokers are busier too.  Summer visitors are finally grabbing up the best properties and locking in on low interest rates before they leave town.  

Resort properties on Hilton Head are selling too. End users, not investors or rental folk are buying these properties near the beach.  

Good news in the over $1 million priced properties! 6 sold in the last 6 days.   The ghost market may finally be coming to an end as the $750k plus properties come alive. Smart buyers are sticking their toes in the over $1 million dollar market and are being rewarded with great properties, great prices and even some great negotiation.  

Land sales on the Island continues to  run quiet. Why?  Because, potential land buyers are scooping up homes for less than building a new one with better financing too boot.  

In all, inventory is replacing itself every day.  This is holding prices in check for the time being.  Keep in mind, we do live on an Island with a limited finite resource of land(now 97% developed).  The number of sales off Island double the Island which shows the epicenter of activity has moved from Hilton Head to Bluffton.  

It’s still all about location and timing.  Baby boomers just want to be warm and wet and are buying as close to the Ocean as their money will get them!  Happy Summer, Ya’ll!

Market Trends May 2015



Mapping out Your Hilton Head Real Estate Strategy

Be the first to comment on this post Categories: Hilton Head Main

Hilton Head PropertiesExploring Hilton Head Real Estate?  We have listed below tools and links that will help mapping out your search.  Real estate in the Hilton Head Area offers villas(the local word for both town-homes and condos), homes and lots(the local word for residential building sites).  Some of the best real estate is currently offered for sale!  Happy searching!

Read the rest of this entry

Hilton Head Area Golf Courses

Be the first to comment on this post Categories: Hilton Head Main

The golf courses in the Hilton Head Low Country offer challenge and fun for the entire family.  Not only are they fun to play, the best thing about a golf course in your backyard is you can enjoy the natural beauty, the breezes and wildlife without maintaining it.

The map below shows the location and clicking the link will give you more information including directions and phone numbers.  After playing a course in the Hilton Head Area, give us a call at (843)785-7111 or shoot us an email and we will send you properties listed for sale on your favorite hole, just let us know.

Top 10 Summertime Memory Makers on Hilton Head Island

Be the first to comment on this post Categories: Hilton Head Main

Summertime MemoriesHilton Head offers big fun for couples, families and friends that vacation together.  Listed below are the Top 10 Summertime Memory Makers on Hilton Head Island.  The ingredients for great memories include a little Hilton Head sunshine, some ocean breezes and any one of the below for super summertime memories. Read the rest of this entry

Report: US Housing Market Experienced Fantastic Gains This Spring

Be the first to comment on this post Categories: Hilton Head Main

construction 4We just love having the opportunity to share with you good news about the US housing market and this is one of those weeks!

Evidently, according to a recent article we were reading, sales of newly built homes as well as home prices in general saw some great increases during the month of April, further demonstrating that the housing market continues to improve.

If you’re considering buying or selling real estate anytime soon in the Hilton Head Area, keep in mind that we are part of the food chain.  Meaning northeast sellers become Hilton Head buyers as they reach retirement or shop for second homes. Read the rest of this entry

Mapping out the Fees for each Hilton Head Community

Be the first to comment on this post Categories: Hilton Head Main

Many of the communities in the Hilton Head Area have fees for security, common area maintenance and some even include golf, tennis and boating. These communities are located in Bluffton, Daufuskie Island and Hilton Head Island.

Simply click on a button in the above map and the community fees associated with that area will pop up.  You can also click on the upper left 3 hash lines for a list of communities to shop and compare.

We have updated the community fees on this link.  Please call us anytime if you have any questions about these communities or the fees associated with them.   Our office line is (843)785-7111 or you can email us at  Thank You.

Private Chef for Hire on Hilton Head Island

Be the first to comment on this post Categories: Hilton Head Main

Vacation Incredible!  Chef Aram has over 30 years of culinary experience and is ready to cook for you.  Whether in the kitchen of your vacation property, a family get together or something special, Chef Aram is awesome.

During his extensive career Chef Aram has built a reputation of exceptional quality and creativity. His talents have been showcased in a variety of restaurants, catering for which he has recieved national and international awards.

Chef Aram states, “These experiences, along with my vast culinary and business background have allowed me to offer my skills to a wide variety of locals and vistors on Hilton Head Island. It is my hope that my team and I can make your time here as memorable as it has been for us.”

Recognized as being one of Hilton Head’s Top Chefs, please visit

Copyright © 2015 Hilton Head Real Estate. All rights reserved. Disclaimer: All content on this blog is my own opinion and should not be treated as fact or relied upon when purchasing or selling real estate.
%d bloggers like this: