Monday, May 21, 2007

Great Villa Opportunity on Hilton Head Island


Primary Home, 2nd Home or Rental Villa opportunity
Hilton Head Island, South Carolina
$169,900 (1st floor) - $179,900 (2nd floor)
“As Is” units available at $25,000 less
2 bedroom / 2 bath / 960 sq ft

Palmetto Commons is tucked away on five acres housed under a canopy of mature oaks and pines. The mid-island location is convenient to everything Hilton Head offers: fine dining, true southern nightlife, relaxing beaches, championship golf and world class entertainment. The mid-island location puts you just minutes away from nearby historic communities of Bluffton, Beaufort, Charleston, and Savannah, GA with the Savannah/Hilton Head International Airport a short car ride away.

Palmetto Commons Villas offer a quiet wooded setting on the north end of prestigious Hilton Head Island. Located just a few minutes from route 278, Palmetto Commons provides easy access to the mainland and the island's recreational and shopping facilities. Within ½ mile of Palmetto Commons are the Hilton Head Hospital and the Northridge Shopping Center with its 10-movie theatre complex.

The split 2BR/2BA design is ideal for families and guests. Fully equipped contemporary kitchens feature brand new appliances, pantry, and breakfast bar. The interiors include wall to wall carpeting in the bedrooms, wood flooring in living areas, blinds, washer/dryer, freshly painted, crown molding, chair rail, and more. Palmetto Commons features a swimming pool, tennis court, fitness room, dog park, and a serene lagoon setting.

Whether you choose to spend your down time relaxing poolside with a good book or enjoying dinner with neighbors, Palmetto Commons has you covered. At the heart of the community is the clubhouse. There you'll find a full catering kitchen, and enough tables and chairs to entertain your guests at parties, cookouts and other activities. Adjacent to the club house is the community pool and expansive deck, complete with grill, lounge chairs and patio furniture.

Also housed in the clubhouse you'll find the fitness center. The newly renovated workout facility is fully equipped with professional grade Nautilus equipment and aerobic machines including treadmills, incumbent bikes and elliptical machines.

At the far end of the property, surrounded by nature, is the tennis court. The tennis court is accented by the irresistible charm of a southern style gazebo, dog park area, and Palmetto Commons' private lake.

Palmetto Commons developers have taken great care to bring to you a very comfortable and relaxing community that blends perfectly with the Island lifestyle.


• Completely renovated villas
• Members’ clubhouse
• Fitness facility
• Community pool
• Dog Park
• Tennis court
• Fishing lagoon
• Great North Island location
• Hospital and medical offices just steps away
• Close to Hilton Head’s pristine beaches and parks
• Nearby shopping, dining, entertainment & everyday conveniences
• Close to public and private schools
• Located next to one of the Island’s top rated golf course communities
• Close to Beaufort County Library
• Relaxed and quiet setting

Interior Upgrade List

• New hardwood floors
• New carpet
• New interior 6 panel doors
• New interior door trim
• New bi-fold closet doors
• New crown molding
• New baseboards
• New smooth ceilings
• New paint throughout
• New cabinets – bath & kitchen
• New hard countertops – bath & kitchen
• New bath lighting fixtures
• New toilets
• New bath faucets & sinks
• New wire shelving in closets
• New window blinds & sliding glass door blinds
• New chair rail
• New kitchen sink & faucet
• New lighting fixtures
• New ceiling fan
• New electrical switches & outlets
• New garbage disposal
• New appliances: refrigerator, range, dishwasher, microwave, washer/dryer
• New air conditioning unit & air handler

Property Information

General Property Information

• Secluded 5 acre site
• 64 total units in 8 buildings
• Phase 1 sold out (17)
• Phase 2 available (12)
• All units: 2 bedrooms/2 bathrooms (960 sq ft)
• Property built in 1983; renovated in 2006

Property Improvements in 2006

• Landscaping improved throughout property
• Sidewalks & patios re-surfaced and colored
• Parking lot sealed and painted
• Building exteriors re-painted
• Roofs replaced in 2003
• New fountain and gazebo at Lagoon
• New tennis court net
• New pool patio furniture
• New pool fence
• New community center
• New fitness center

Owner Information

Regime/Condo Association Fee = $344/month, which pays for:

• Landscaping
• Pool service & maintenance
• Monthly pest control services
• Trash removal
• Community electric & lighting
• Insurance for the property and buildings (exterior only)
• Portion of payment applied toward a reserve for the Association

Annual Taxes (approximate): $1750 (investor or 2nd home)
Annual Taxes (approximate): $1150 (primary)

Preferred Closing Attorney & Escrow Agent

• John Wilson, Wilson & Bratt, PA, 843-681-6300

Preferred Lenders

• Countrywide Home Loans, Chuck McAlpine 843-682-1350
• Sun Trust Mortgage, Eric Stafford 843-815-9684

Purchaser Incentives*

• Prepaid regime fees for one year from closing. Twelve months at $344/month equals $4128, plus $688 escrow requirement for a total of $4816.

• Closing cost allowance of 3% of the sales price. With a sales price of $169,900, the allowance equals $5097.

• Home Trust Warranty valid for one year from closing. Includes coverage for plumbing, electrical, HVAC and kitchen appliances (some restrictions apply). The value of this policy is $395.

*Must utilize services of preferred closing attorney and a preferred lender

Rental Opportunities

“Should you have a client considering purchasing a Palmetto Common villa, they may want to consider the potential investment of the long-term rental market. I have toured the model villa and the amenities and quality of the refurbished villas that are being offered to customers and have arrived at the following schedule of potential fair market rental values for the villas:

2 bedroom/2 bathroom: Rental range is $1000 to $1200 per month

Should you have a client that would like to purchase a villa with the anticipation of placing it on the rental market, I would be happy to meet with you and your client to discuss their goals and the potential long-term rental market.”

Keith Miller, PMIC
Miller Long Term Rentals, Inc

Photos of Palmetto Commons are included in this email in album form.

Please contact me if you have an interest. These villas offer fantastic pricing for on-Island real estate.

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