Your February Realtors Market report:
Several complexes are offering quite a few choices in one and two bedroom villas.
There is a beautiful one bedroom (only one) available at The Preserve, where folks actually live full time. The pet-friendly villa has a new price of $199,500, with extremely low Property Owners Association fees, and well managed grounds with a gorgeous pool, workout room and tennis! The one bedroom is close to 1000 sq ft which is larger than many 2 bedrooms on the Island. High ceilings and newer, these villas at The Preserve are worth previewing if you want to live here. Call me as I’d love to show it to you!
Some day POAs will realize that every time they raise their fees it becomes harder and harder to sell in that complex. This also goes for property transfer fees.
One, as an example, voted in transfer fees “just cuz” the lady said. Others said it would help with dues, but it’s yet to be seen. Folly Field which has a “voluntary POA” had also raised theirs to $100. I guess one can’t complain too much on that.
The “Spring forward” on our Daylight Savings Time may become permanent. It’ll go to a vote with only the PTA adverse to it. Worried about children walking to school in the dark. Several states now ignore the time changes. They truly are annoying. And it’s so nice to have more light longer. No more Standard Time? You’ll hear more soon.
Kiplinger Letter of March 15 States that “the lack of affordable entry-level homes is spurring a building boom: Accessory Dwelling Units:, the technical name for in-law apartments, garage conversions, etc.” Some cities are making rules for ADUs easier, because of high costs in their area. It might be something HHI and Bluffton might consider for lower cost housing.
Kiplinger goes on to say...
“(There can be) many hurdles. Lenders generally won’t approve mortgages to finance them, and local codes governing their construction vary a lot by city...some can be very restrictive.
Hilton Head and Bluffton allow them, even behind the gates of very strict Planned Unit Developments (plantations). Rules must be adhered to and include some such as “no stoves or ovens, must have an entry from the main home”, etc. The most critical, however, is that they cannot be rented out, except to a relative, and even that might be unallowable. Wouldn’t this be a great way to solve the employee problem and additionally create a home overseer for local second homes. Just an idea. These tenants would have to be vetted, but shouldn’t everyone working be vetted, to some degree?