Hilton Head Real Estate Blog

Coligny Beach

View of the beach on Saturday from a 2BR/2BA Sea Crest unit that is generating nearly $70k per year in rental income.  This unit is available for hundreds of thousands of dollars less than the current owner paid for it and may be the hottest income generating property on Hilton Head Island, SC right now.  For details, e-mail me at Richard@ThePattisallGroup.com or search on my web site www.ThePattisallGroup.com or call me on the cell @ 843-304-9590.  Happy Beach Day!

For additional information on Hilton Head Real Estate, return to the home page here.

Sept. 13, 2016

What You Should Know Before Buying Your First Home

There are a lot of things to consider when you're considering purchasing a house. This isn't a task that can be taken lightly, because you want this investment to last for years to come. When looking for a new home, you need to do more than just going to an open house and place an offer. You need to know which questions to ask, and what considerations need to be taken before you can take the next step in the home buying process. If you do find a house that you want to make a home, consider the below tips so you don't make any mistakes:

1. Make Sure You Can Afford The Place

There is a very good chance that you won't have all of the money needed for your new home, and that's alright. However, you need to make sure that your credit rating is at a good level. If your finances are out of order, or you've opened multiple credit cards recently, you may not want to rush into buying a home. Otherwise, the interest rate, loan amount, and other terms set by a lender can be drastically altered.

2. Know The Features You Need And The Ones You Can Compromise On

Understanding the things you need in a home versus the things you want can be difficult. Finding a great house that checks off the important things on your list, at a price you can afford, is one that you won't want to get away. Not every house you look at will be move-in ready, with the less important aspects included. Allowing your standards to match your price range will be the first step in finding a great home.

3.  Get Yourself Pre-Approved For Your Loan

You may notice that a lot of homebuyers are either pre-qualified, or pre-approved for their mortgage loan. Those who are pre-approved have an advantage over pre-qualified people, because it means that the financial information of the person has already been examined, and a lender knowing the exact amount of the loan. If you're pre-approved, you also don't need to worry about falling in love with a home, only to be told that it'll never be yours, because you won't be able to afford it.

Find Someone To Help


These are only three of the most important things to do before investing in your first home. When you're buying a house, you want to make sure you have all of the information possible before taking that step. By contacting a realtor, you're giving yourself the chance to be highly informed, and aware of the steps needed to be taken. This is a very big step, and it's not as simple as one might think. With budgets and finances being the largest factor to consider, there is a lot of preparation that needs to be done. Speaking to a realtor can answer all of your questions, and help you get everything you need ready for buying the home of your dreams.

Jan. 21, 2015

2015 Sales Ramping-Up

Sandhill Crane Beach

Sales are ramping up on Hilton Head Island this week with the first $1M+ homes going under contract for 2015.

For additional information on Hilton Head Real Estate, return to the home page here.

June 1, 2014

The Seacrest Villas

In working with another client, I have stumbled upon two villa properties that offer EXCEPTIONAL income production, some discount from current market (more with the third floor unit than the fourth floor unit), and significant discount from historic high exhibited by the pricing on both.  If you have even a remote interest in this kind of property, they are worth a close look.


This is the view from the balcony of the third floor unit over Coligny Beach and read-down further to see financial data:


The Seacrest Villas


Unit 3304                                             Unit 3404


Bedrooms:                                 2                                                             2                             

Baths:                                       2                                                             2

Sq Ft:                                        1,453                                                     1,453

Regime fee:                               $708                                                      $708

Property Tax:                             $8,481                                                 $8,481


Gross Income:                           $67,500                                                TBA (I would expect $75,000+)


List Price:                                  $749,000                                              $899,000


Last Sale:                                 $715,000 (1/27/2012)                             $715,000 (1/27/2012)

Current Owner Paid:                   $1,100,000 (4/29/2005)                        $1,050,000 (12/18/2006)

2005 Market High:                     $1,100,000 (4/29/2005)                        $1,100,000 ( 4/29/2005)


Projected Sales Price:                    $700,000                                              $800,000


The first reason to buy is that these units generate nearly 10% of what I project to be the acquisition cost for each, when the market norm is about 5%.  Unit 3304 is advertising $67,561 gross rental income for 2013, 2012 was $63,793 and 2011 was $58,433, and $59,184 so far this year.  Unit 3404 does not yet have the numbers attached to it, but I bet they are the same or better.  At this level of gross income, the projection is that each of the units would earn substantially over monthly and annual costs so as have the ability to substantially retire the expense of any reasonable existing mortgage (at 75% LTV or lower) – and that is highly unusual.  I do not know what would beat these units as far as cash on cash return – in fact, one unit in this building 3 Sea Crest is supposed to be doing 48 weeks.


The second reason to buy is that they are listed at 68% and 82% of the market high for each – near-foreclosure pricing that you only found at the bottom and do not often find anymore – and a successful sales contract would typically be at a discount to list price – making the probability that there is plenty of room for capital gain very high.


The third reason to buy is that unit 3304 might beat the last sale in terms of discount – unit 3404 is unlikely to do that and should be discounted more from list than 3304 – however, is still an excellent buy in terms of the revenue that it will generate as a function of the sales price and the expected appreciation over the next several years.  Rental income details are likely to be available tomorrow, and I am sorry to not have them available now – it is a brand new listing that does not yet have complete information advertised by the listing agent.


3304 The Sea Crest on www.ThePattisallGroup.com:




3404 The Sea Crest on www.ThePattisallGroup.com:





Here is unit 3304 as advertised on the Vacation Company web site:




Reply or call me on the cell if you are inclined to consider and would like to discuss – 843-304-9590.

For additional information on Hilton Head Real Estate, return to the home page here.

March 25, 2010

National Flood Insurance Reform

The Flood Insurance reform that consumers demanded will address the unintended consequences from last year's FEMA flood insurance overhaul.

Due to recent disasters which cost everyone billions, NFIP (National Flood Insurance Program of FEMA) had to revamp the program and bring it in line with actual risks; resulting in the 2012 Biggert-Waters Law. FEMA also updated the flood zone designations and flood maps causing hundreds of thousands to be cancelled and renewed at, in some cases, unreasonably high premiums and influencing real estate everywhere.

As of May 1, 2014, the 2014 Flood Insurance Affordability Act. comes to fruition. This Act allows a new property owner to assume the old policy at the old rate; plus it applies to second homes, businesses, and lapsed policies as well. It also grandfathers changes in mapping, and, perhaps most importantly, sets maximum annual rate increases at 18%.

There will be further information streamed to us as the Act is analyzed and understood by the industry and the large insurers get their regional agents out into the field to bring the local brokers and agents up to speed.

For more information on NFIP, go to


For additional information on Hilton Head Real Estate, return to the home page here.