Beachside Tennis; they are located on the ocean and near the South Beach marina complex. They are nice size (2) bedroom (2) bath villas. A swimming pool is located on the property and the POA does a good job of taking care of the property.
Bluff Villas; they are also located near the South Beach Marina Village. There are efficiencies, (1) bedroom, (2) bedroom & (3) bedroom villas. I use the (2) bedroom villas in my comparison of market conditions. Bluff Villas are located near the beach and are an entry level villa for Sea Pines.
Plantation Club Villas; they are located on the ocean side of the Harbour Town corridor. It's a good location for the beach, Harbour Town and golf and tennis. This villa complex offers (2) bedroom flats or (3) bedroom townhomes. I used the (2) bedroom flats for my market analysis.
The Sea Pines master plan has clusters of resort activity around South Beach and the Harbour Town Beach Club corridor. Meandering around these areas are residential neighborhoods, some high end homes, and others at entry level prices for Hilton Head.
So why is it a good time to buy? If you wait for someone to tell you we have hit the bottom then it it is to late, prices have begun to go up. We experienced a fairly consistent appreciation of around 8.5% between 1999 and 2003. In 2003 to 2005 we had a 21% jump in the average price of the (3) villa complexes. Since 2005 the price has dropped of 14%. If you were to chart a time line of 8.5% growth since 1999 we would be in line with the current average list price in 2008. In other words we have hit bottom but no one is willing to shout it from the roof tops.
Don't wait for the prices to go up again, and remeber that real estate is a long term investment. If you had bought a Bluff Villa in 2002 and sold it in 2007 you would of had a capital gain of $168,600. If you had a magic crystal ball and sold it in 2005 it would have been higher, but the point is real estate is a long term investment.
The graph below illustrates the sales of the three villa complexes, Average Sales of the Three & the 8.5% growth .
Charlie B. Fraser is President of the CHARLES FRASER REALTY GROUP. He has a collective team of professionals that can help you make the right decision about real estate on Hilton Head Island. Contact the office (843) 671-3312 or email info@FraserRealty.net
Charles Fraser Realty Group is a member of the Hilton Head Multiple Listing Service and the Hilton Head Area of Realtor's. Charlie specializes in Sea Pines, but sells "island wide"