Palmetto Dunes Oceanfront Resort is situated on over 1,800 acres in the heart of Hilton Head Island. It is a private, gated residential and vacation resort with approximately 1,100 homes and 1,400 condos and villas. Over recent years, there have been a handful of Palmetto Dunes foreclosure and short sale listings, which are primarily condos. These listings tend to crop up only every once in a while, but when they do, they can be a steal for the savvy investment buyer.
Bank Approved Short Sale. Bank Will Not Accept Anything Less Than List Price. 2nd Floor Unit With Direct Oceanfront View! Watch The Waves Hit The Beach From The Living Room, Balcony Or Over-sized Master Suite. Enjoy Evenings On Private Balcony ...
What To Know About Buying A Palmetto Dunes Foreclosure
Foreclosures are always a great deal, right? Yes…maybe…sometimes…but not always. Purchasing a home or condo in foreclosure affords the seller a way out and the buyer a way in---at way under market price, right? Sometimes. Whether or not your foreclosure purchase is a deal depends on the market, the property, and the motivation---of both the seller and the buyer.
Keep in mind that foreclosures in the high-end markets were not as prevalent as in the more moderately and lower priced markets; it’s just that they were more publicized. Simply put, homes in Palmetto Dunes, while certainly not exempt from the distressing events related to foreclosure, were few and far between.
Recent economic conditions tended to mostly affect investment/rental condo properties in a more disproportionate manner than single-family residences; therefore, since there are more condos in Palmetto Dunes than any other community on the island, there were more condo foreclosures in Palmetto Dunes than in any other island community.
Choosing the Right Home—Foreclosure or Not
That said, foreclosures, whether in the home or condo segment, may not be the best buy due to the inherent condition of many foreclosures (delayed maintenance and property neglect) and, for the most part, foreclosures have cleared out of the market altogether.
Foreclosures do arise from time to time, but the smartest and best strategy would be to look at properties in your price range and select the one that best fits your needs and desires. If that means an investment property in need of fixing up, then foreclosures might be exactly what you’re looking for!
If you are interested in buying or selling property in Palmetto Dunes, please contact me online or at 843-384-9088. I would be happy to provide you with market condition updates and to assist you in your purchase or sale.