If there was ever a time to buy real estate, especially in the Hilton Head Island area, now would be it. Home prices have dropped by an unprecedented 35- 40% as a result of the recession, a greater drop than even during the Great Depression. This one fact alone may make this the best time in the history of the United States to buy a home.
But, now add into your thinking that mortgage interest rates are at historic lows.
Freddie Mac has been keeping records of mortgage interest rates in America since 1971. As seen in the chart above, never in those 41 years have rates been this low. It’s almost like FREE MONEY!
This combination of rates not seen in most of our lifetimes and a shocking decrease in home prices has created the total opposite of the Perfect Storm. Fans of the movie “The Perfect Storm” will remember that an unprecedented combination of factors created a once-in-a-lifetime storm. In the same way, an unprecedented combination of factors has created a once-in-a-lifetime “Perfect Climate” to buy real estate. Many people are taking advantage of this opportunity, with the result that home prices are starting to rise all across the country.
Your question might now be, “What makes you think Hilton Head Island is one of the better places to buy?” Excellent question. The reason is that a massive percentage (42%) of Baby Boomers have indicated that the Southeastern U.S. is where they’d like to retire. Every day now 10,000 Boomers turn 65 (just two years ago only 3300 people—the Boomers’ parents—were turning 65 each day). The Hilton Head area is already seeing the effect of this tidal wave of Boomers; the real estate market here is the hottest in South Carolina and has been for three straight years.
Take advantage of this “Perfect Climate” and purchase a home, villa or lot in the Hilton Head area...before prices rise even further. Visit our website, to find properties of interest, and email me or give us a call at (843) 816-0796 with your questions or to schedule an appointment. Rick Turner and Associates – Expect More. Get More.
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