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Hilton Head Real Estate News: May 2019

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COASTAL LONG TERM RENTALS OPENS SECOND LOCATION

Coastal Long Term Rental Company has opened a second location in Bluffton. The company has been serving property owners, investors and renters on Hilton Head Island for nearly 40 years. The new location is at 7 Simmonsville Road in Bluffton.

BERKSHIRE HATHAWAY WELCOMES ONE

Sarah OLeary TakacsSarah O’Leary Takacs has joined the team at Berkshire Hathaway HomeServices Hilton Head Bluffton Realty as a sales professional. In her new role, Takacs will be responsible for residential real estate sales in the Hilton Head Island and Bluffton markets. She has 37 years of local real estate sales experience. Prior to joining Berkshire Hathaway, she was a real estate professional at Keller Williams. 

 

SELL JOINS PALMETTO DUNES

Laurie Sell has been hired as a commercial property manager at Palmetto Dunes Oceanfront Resort. In her new role, Sell will be responsible for managing the operation of commercial real estate properties in Shelter Cove Harbour and Palmetto Dunes. Previously, she managed a team of agents for 20 years in the Michigan real estate industry.

MORTGAGE RATES DIP BELOW EXPECTATIONS

Mortgage rates have been volatile this year, dropping a full percentage point in March—the biggest one-week fall in a decade. Some forecasts had predicted that rates would climb to 5.25 percent in 2019. But instead, the average 30-year rate was about 4.3 percent at press time, according to Bankrate.com. The rate drop comes just in time for the spring home-buying season. Because lower interest rates make monthly payments less expensive, the rate cut should give the housing market a boost, real estate experts agree. The record low for 30-year fixed mortgage rates was 3.5 percent in late 2012. Thirty years ago, home buyers were looking at an average 30-year rate of 11.13 percent.

MargaritavilleMARGARITAVILLE HOLDS ADULT SPRING BREAK EVENT

The Spring Break Celebration at Latitude Margaritaville Hilton Head attracted more than 1,500 visitors who enthusiastically participated in the day’s festivities. Guests donned hard hats and booties to tour the under-construction amenities slated for opening this winter. Amenities will include a Latitude Town Center, Fins Up! Fitness Center, Paradise Pool, Latitude Bar & Chill Restaurant and more.

Trolleys and signature Margaritaville shark fin-topped golf carts transported prospective home owners to see the nine fully-furnished model homes.

NEW HOMES AND AMENITIES UNDERWAY AT HAMPTON LAKE

Hampton Lake, a master-planned real estate community in Bluffton, is undergoing changes. In late spring to early summer, a new section of homes by Shoreline Construction will be released. This 15-lot area surrounds the new track and sports field at Parkside. Homes in this area will be 2,200 to 2,800 square feet and priced from the low $500,000s.

newhomesA new sports field is nearing completion at Parkside Amenity Center. It will include seven acres of green space with a quarter-mile rubberized track bordering a large grass multipurpose sports field. A new playground, four Har-tru pickleball courts and two bocce courts were installed recently. Architectural plans are complete on a new activity barn and pool at the Parkside Amenity Center. The activity barn will host meetings, concerts and large gatherings. Construction on a new gated entrance across from River Ridge Academy also will begin soon. 

COASTAL LONG TERM RENTALS OPENS SECOND LOCATION

Coastal Long Term Rental Company has opened a second location in Bluffton. The company has been serving property owners, investors and renters on Hilton Head Island for nearly 40 years. The new location is at 7 Simmonsville Road in Bluffton.

VILLAGE PARK HOMES ADDS FOUR

Angie Currall, Jillian Gerber, Marcia Hunter and Jenna Marstiller have joined the team at Village Park Homes.

Currall will serve in the purchasing department as an operations administrator. Gerber has been hired as a sales professional at Alston Park at New Riverside. Hunter will serve as a construction permit specialist on the pre-construction team and has a background in local government administration. Marstiller will serve as construction starts administrator in the pre-construction department. Previously, she held a position with the town of Bluffton.

PROGRAMS EXIST TO HELP FIRST TIME HOMEBUYERS

Younger consumers and other first-time homebuyers should research assistance programs offered by banks and other entities. Many banks and state programs offer down payment subsidies or a reduction on closing costs. However, the Federal Housing Administration is toughening up its standards for mortgages made to home buyers with small down payments, low credit scores and high levels of debt. The tighter standards will impact those who have the weakest financial profiles — FICO scores under 640 with debt-to-income ratios above 50 percent. Nearly 83 percent of FHA home-purchase loans made in January went to first-time home buyers and just under 40 percent went to minorities, according to HUD.gov. For a list of state-backed home buyer programs, go to HSH.com. First time homebuyers are also able to talk with a HUD-approved housing counselor. Go www.hud.gov.