62 is the Magic Number for a Reverse Mortgage

Almost 10,000 baby boomers per day are are turning age 62 and heading to Hilton Head Island for retirement.  You might ask what is so important about turning age 62… well age 62 is the minimum age to qualify for a FHA reverse mortgage and the costs to secure these mortgages is dropping.  Although the reverse mortgage has been available for more than 20 years, it is still misunderstood.  The most common misconception is that the bank owns the house;  that is not true.  The bank holds the mortgage, while the homeowner retains title. Read the rest of this entry

Do you have a second home on Hilton Head that you do not rent?

In January many second homeowners received a personal property tax bill from Beaufort County.  If your home continues to be a second home and is not on the rental market, you may have been charged in error.  Please look back to see if you received a personal property tax bill in the last month from Beaufort County, and contact them if this was an error.  If you have paid the bill, you will be reimbursed.

Do you have a rental home on Hilton Head?

If your home is on the rental market, you are to be charged a personal property tax, however it should be based on the value of the furniture.  Because of a new internal system in the County, a Rental Residential Return questionnaire did not get sent to all six-percent residential property owners prior to the tax bill, and a formula based on the building value of your home was used.  The amount charged, may not have truly reflected the value of your furnishings.

You may contact the Beaufort County Auditors office with your questions and inquires at:

Beaufort Office:
100 Ribaut Rd Suite 160
Beaufort, SC 29902
PO Box 458
Beaufort, SC 29901
Phone:  (843) 255-2500
Fax:     (843) 255-9409

When it comes to buying a Hilton Head Island property, there are many steps to take to be certain you are getting the best property at the best price.  Let’s face it, no matter how good the deal is, if momma does not like it, there is no reason to even go there.  In the present market, eliminating properties is the way to find the one you like.  It’s like weeding a garden, sooner or later you will find the plant you want to keep.  In the following steps we will walk you through buying a property on Hilton Head Island.  Read the rest of this entry

If you are stepping back from your real estate business on Hilton Head or moving in another direction, we have a proposal we would like to share with you.  Your database holds present value that if it is worked correctly, will become a profit center for you.  If, however, you let this database sit or turn it over to the wrong agent, it will become worthless.  We recently helped an agent close five transactions in her database.  It was found money! Read the rest of this entry

Good news, we found lot financing on Hilton Head Island!

If you have been considering buying a great home site in the Hilton Head Area but wanted to finance the purchase, we  found a source for lot loans!  This financing is available for qualified buyers that want to build in the future as a second home or primary residence(no investment properties). Read the rest of this entry

Baby boomers will make their move to Hilton Head in 2011

It is not until next year that baby boomers will begin retiring in force and this group will have major impact on areas like Hilton Head Island despite the economy.  With the “oldest” turning 65 years and the “younger” ones turning 50, these boomers will start begin their pilgrimage in numbers next year.  Although we are busy selling real estate on Hilton Head, this is the calm before the storm and we need to prepare ourselves for this deluge.  The economy may have slowed some of this group down, but it is impossible to stop them.  The key though is to be in front of them. Read the rest of this entry

A note from David Crowell at Mortgage Network

Mortgage Network is a good barometer of what is actually happening in local markets. We see more borrowers ( both for purchase and for refinance) than any of the Banks. Here is what we are seeing: Read the rest of this entry

Flood Insurance on Hilton Head Island

While we have found that most Flood Policies are assumable and we have closed our Hilton Head homes with the new buyer assuming the sellers policy, Congress has extended the National Flood Insurance Program (NFIP) through September 30th.  The bill is retroactive and will cover the lapse period from June 1, 2010, to the date the law is enacted. 

National Flood Insurance Program Extension Act of 2010

Senate passage of the National Flood Insurance Program Extension Act of 2010 (H.R. 5569), reauthorizes extension the NFIP until September 30, allowing currently stalled transactions to move forward. The bill is retroactive and covers the lapsed period from June 1, 2010, to the date of enactment of the extension. Any new policy applications or renewals that were signed and submitted during the lapsed period will be effective from the date of application. In the case of waiting periods, the waiting period will start from the date of application.

Hilton Head Retirees take note

States are wooing retirees with tax breaks.  Considering everything, listed below are the states that tax experts say offer the best deals for residents older than 65:

Georgia, Pennsylvania, Mississippi, Illinois, Michigan, Kentucky, New York, South Carolina, Delaware  and Louisiana Read the rest of this entry

Do you dream of living on Hilton Head Someday?
Let’s assume you own a home free and clear in Ohio, or have a small mortgage.  If you are over 62, you can get a Reverse Mortgage on the current property, and use the proceeds to purchase a Hilton Head  home or villa!  And the best part is that you have no payment on the home “up North”.  Reverse Mortgage Program. Read the rest of this entry