How much per pound on Hilton Head?

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Hilton Head ValuesOne of the best stories about price per square foot came up when a client and his agent were standing in the driveway of a home on Hilton Head Island.  The buyer could not understand why the home was priced so much higher per square foot than any of the other homes he had seen that day.  He asked his agent for the reason and her reply as she looked at his car was, “How much per pound did you pay for that Mercedes?”  Bottom line, if you like a Mercedes buy the Mercedes and if you like the house, buy the house! Read the rest of this entry



Moving Checklist for Hilton Head Buyers and Sellers

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Hilton Head IslandMoving in the Hilton Head Area is different than moving in other places.  Reasons include narrow roadways, gated communities, weather considerations, same day closing-moving days, POA’s, owners closets and mailbox keys. Just to name a few!
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What Every First Time Home Buyer Should Know About Home Loans

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Home Buying 11First-time home buyers who work with us often have the same question: Should we or shouldn’t we get a first-time home buyer loan?

In fact, there are a number of advantages and disadvantages attached to this type of loan.

So today, we thought we would take a few moments to share with you what you can expect from getting this type of loan as a first-time home buyer. That way, when it comes time for your to decide how you’re going to finance your first home, you’ll have all of the information you need right at your fingertips.

First-Time Home Buyer Loans 101

A first time home buyer loan offers financial assistance to qualified buyers by utilizing a variety of methods:

  • Very low down payments or none at all
  • Subsidezed interest costs
  • Grants
  • Forgive loans
  • Defer payments

Generally speaking, the best candidates for this type of loan are home buyers who have never owned a home, although those who have not owned a home in more than three years may also qualify.

With these types of loans, certain restrictions may apply in order to qualify. Thus, it’s important to research beforehand whether you meet those restrictions.

First-time home buyers should also be aware of the specific restrictions attached to using the loan. These may or may not include:

  • Being prohibited from buying homes in higher price ranges
  • Being required to make the newly purchased home your primary residence
  • Being prohibited from renting the home to others

These types of loans are certainly great for those buyers who otherwise might not be able to purchase the home. But there are some disadvantages to this type of loan.

Some of those drawbacks include:

  • Buyers are limited to the type of home they want by price range
  • Buyers may not be eligible for certain program benefits if they sell their home before a predetermined time limit.
  • Buyers may have a limited number of loan types to choose from.
  • Buyers may have to pay for recapture taxes in exchange for benefits they receive through the program

For these reasons and more, some first-time home buyers may find it just as beneficial to get a traditional loan, although this should be considered on a case by case basis.

We’ll Help You Through Your First Home Buying Experience

Contact us today to learn even more valuable information that is sure to help you as a first-time home buyer. We are glad to offer you our expert assistance, which includes straight-forward advice and user-friendly resources.

Until next time!



Half Time on Hilton Head Island

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Goal PostThe first half of real estate sales in the Hilton Head Area is over and the results are in.  The Hilton Head Area includes Bluffton, Daufuskie and Hilton Head Island and all types of property.  Below is the executive summary from our HHIMLS June 2015:

First Half Sales Summary for the Hilton Head Area

  • Pending Sales increased 46%
  • Inventory dropped 12.4%
  • New Listings were up 3.3%
  • Prices moved higher to $289,950(median)
  • Days on market increased 1.9% to 109 days
  • Months of supply was down to 7.1 months or 17.4%

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Understanding Appraisals and the Hilton Head Buyer

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home mortgageAs you might already know, summer is a very busy time for Island real estate agents. If you are a prospective buyer,  BlogHiltonHeadAgent.com will help you get to wherever you are going!

Today, we’re going to share four things every Hilton Head buyer should know about appraisals. Read the rest of this entry



House sales are HOT this summer on Hilton Head!

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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




Copyright © 2024 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.
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