TOUR DAY on Hilton Head - Spotlight Sea Pines Resort
Our local MLS divides Hilton Head Island into different areas and every Wednesday, one of these areas is highlighted and Realtors(R) have their new listings available for tour. This is a terrific opportunity for sellers to present their property to the largest number of agents in a short time. To that end, all of us are always 'shopping' for a customer or client and for me this week was no different. Another terrific benefit is to 'place' homes and compare within price ranges.
Every week, I choose at least one 'best buy' on the island and one 'best buy' on the mainland in Bluffton and this week was no different. After previewing 12 properties in 2-1/2 hours (including a stop for lunch at one of the listings) - yes, it can be done - I'd say that the listing at 6 Muirfield was the best candidate for this honor. Why? Location, view, income potential.
Location
It is located on #2 tee box of the Harbourtown course; this means that during the Heritage Golf Tournament, an owner can either enjoy front row seats for all the golf action - and unobstructed views since the cart path is on the other side of the fairway, or the new owner can rent it for corporate use during that week (many of the banks, vendors, etc. look for "Hospitality Homes", or rent it for ticket holder use, or rent it for short term. During the summer season, because of its close proximity to Harbour Town, Sea Pines Center, and a very short bike ride, to the beach AND to the new Sea Pines Country Club, this location is premier.
View
It's a clear view of the #2 tee, the #2 fairway, as well as in the distance a view to the green. Because there is a large deck on the side, it also affords a view as you sit outside on the deck, or you can set up chairs in the pretty wooded area and watch from there.
Income Potential
There are many options for rental income. A projection for this property might be in the range of $18,000 to $24,000/year GROSS INCOME. This does not include the management fees from the rental agency - if you're not renting it yourself - nor the cleaning fees, taxes, (interior insurance), maintenance, etc.
Because of the location, there is an upside for future value. The last home in this enclave sold for $480,000 and this is listed at $400,000.
What's the catch?
The listing accurately says that it is a "remodelers dream." That's being fairly kind. It will need a new kitchen and 1 of the 3 baths will need to be replaced as well. It will definitely be a where do you stop sort of project; however having supervised many of these, I'd have to say this is still definitely the deal of the day.
Better hurry - it is still on the market at this moment but after being on tour and 25 agents looking at it, now multiply that times the number of people all of us have in our database to tell about this great deal!
The takeaway is, sign up with me so that I can be on the look out for you when these opportunities pop up!
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