Romancing the Market

“Sea Pines has been recognized as one of the world’s best vacation destinations and one of the top resorts in the country, as well as a growing second home market. There are 12 miles of uninterrupted beach, an extensive bike path network, and two marinas. Tennis aficionados can play year round on an abundant supply of courts or participate in the Stan Smith Academy or the Smith-Sterns Tennis Academy. Sea Pines touts 4 golf courses, including Harbour Town Golf Links – the site of the Verizon Heritage Classic - and the newly redesigned Heron Point by Pete Dye, soon to be one of the top courses in the country.”

More than just a wonderful place to live, Sea Pines has proven a great investment. Property appreciation for investors has been consistent over the years, with Sea Pines Plantation offering some of the greatest returns.

Back in northern Beaufort County, a lesser-known “island paradise” may be well within your grasp… and price range.
According to Mary Ann Weir at Palmetto Moon Realty, Harbor Island continues to be the best kept secret on the southeast coast. With 2.5 miles of pristine beach, a lush natural environment, and plenty of recreational amenities, Harbor offers homes, villas and lots priced considerably lower than those of other beach communities. Annual assessments are also lower.

Weir describers her favorite island: “The beach is edged with rolling dunes and seaoats, and the dolphins at play offer entertainment year-round. Virtually every home site features views of the ocean, marsh, or lagoons. The island amenities include several pools, tennis courts, a recreation area, clubhouse and fitness center… all in a secure gated community.”

If you’re looking for even more island-style privacy, Cassie Denton at Town & Country would like to introduce you to Margaret’s Island, just 25 minutes from Beaufort and across from Palm Key Resort, where a large, elegant estate can currently be yours for less than $1,000,000. Incredible!

Back on the “mainland,” John Trask acknowledges that the mid-price market is currently sluggish, but says his company is having a good deal of luck selling houses in the $185,000 - $235,000 range.

Bonnie Krstolic, at Town & Country Real Estate, tells a similar story:

“The mid-range market is slow right now. Most of the sales have been in the $200,000 to $350,000 range. Currently there are 170 properties under contract. This includes lots as well. The majority are under $400,000.”

Whatever your price range, there’s no denying that it’s a buyer’s market. And if you’re a first time buyer – and don’t have to worry about being a seller – you’re in a really good position!

Rebecca Bass at Lowcountry Mortgage offers a few words of caution, though, to homeowners shopping for a mortgage. Yes, rates are low right now, but credit standards have been tightening over the past year.

“Mortgage rates are now tied to credit scores in what is called ‘risk-based pricing.’ That means it’s more important, now, than ever, to consult a reputable mortgage lender before shopping for your new home, in order to get pre-approved.”

Alicia Baruzzi at Marshland Realty agrees that pre-approval is very important. “An early green light on a loan will put you in a good negotiation position when you find your dream home” she says. “It will also help you shop within your budget.”

About that dream home: John Trask says today’s buyers can afford to be choosy… and bold.

“Don’t be afraid to offer a low price. You don't know what you can buy something for unless you ask. There are lots of choices now, so go look. Also, consider buying a lot; prices are at all time lows and builders are willing to build you a custom house for less just to keep their crews working.”

Trask concludes with these words of inspiration:

“Be imaginative; this is a time of great opportunities. The glass is definitely more than half full!”