Sunny Hilton Head Home

Even after bankruptcy is declared , it's all about the Green--

(photo courtesy of http://www.freefoto.com/)

Tradition is alive and well in spite of the Levitt Bankruptcy. Tradition changed its name from Tradition, South Carolina, to Tradition Hilton Head in late Decemeber 2007. Tradition Hilton Head is actually located on U.S. 278 in Hardeeville--and it's about 25 miles from the Island.The community broke ground in October 2006.

Here's a recap of the latest developments

Late in  2007, Levitt and Sons, a Fort Lauderdale-based home builder that declared bankruptcy for itself and 37 of its subsidiaries. There were subsidiaries which were not included in the bankruptcy. Two of them are the developers of Traditions.

It's a bit confusing but, Tradition is being developed by Core Communities. Both Core Communities and Levitt and Sons are subsidiaries of Levitt Corp. BUT according to company's  financial reports, neither Levitt Corp. nor Core Communities are involved in the bankruptcy.

The bankruptcy won't affect the community at all. According to Martin Sauls IV, director of marketing for Tradition Hilton Head, Levitt and Sons was scheduled to build fewer than 700 homes in the Magnolia Walk section of the development. Independent, select builders, will build out what will become 9,500 homes.

• Core Communities will take over Magnolia Walk's development. Only 162 of the 2,973 acres for sale at Tradition have gotten to the closing table. 
• There were no homes were constructed for individual buyers. ( Levitt and Sons left 14  spec home unfinished.)
• The development opened its Tradition National, Tommy Fazio-designed golf course (temporary clubhouse) 
• The first residents of the community also moved in November, 2007.
• A new sales office is opening soon.
• Levitt Corp. had a third-quarter loss of $169.2 million in 2007, Versus a$3 million profit for the same period in 2006.

Tradition has also been selected to be featured on HGTV--this from a recent News Release:

"HGTV could have chosen anywhere in the country as the site for this ecological tour-de-force. After an extensive, nationwide search, they chose Tradition Hilton Head. And for good reason! Tradition's developers and builders are creating an environmentally responsible community that's worthy of the advanced thinking the HGTV Green Home displays. HGTV was charmed by Tradition's beautiful Lowcountry scenery in and around a town featuring more than 450 acres of tranquil lakes and miles of paved pathways for biking and walking."

Just on the border of Beaufort and Jasper Counties, Abbey Glen homes offer the privacy of single-family living with the convenience of a condominium--and all just a short drive from Hilton Head Island, Beaufort & Savannah.

Condos have four floorplans with 2 & 3 bedrooms, 2 full baths, enclosed veranda, private patio, Cathedral ceilings and charming European Country style exteriors.

A community clubhouse offers a great room, kitchen and game room for group gatherings. Outside, enjoy a luxurious lanai and outdoor fireplace alongside a sparkling pool. And stay fit in a professionally-equipped fitness room.

Location: From Hilton Head Island and points east, take US Hwy. 278 West approximately 15 miles west of the Hilton Head Island bridges. Make a right onto New River Parkway. Abbey Glen will be on your right, about 1/4 mile down the road.

Abby Glen Clubhouse

Amenities: The the Clubhouse and Pool complex offers resort-style amenities, just a few steps from your front door. The clubhouse acts as the main center for community and where friends can meet to enjoy conversation in or watch the big screen TV . It is only a few short step to the fitness area, where you can enjoy daily workouts, if you wish. 

From I-95 North/South, take Exit 8 (US Hwy. 278) and take 278 East. Approximately 5 miles down the road will be New River Parkway, on your left side. Make the left on New River Parkway, and Abbey Glen will be on your right, about 1/4 mile down the road.

A Condominium Community-- Abbey Glen homes featuring 2 & 3 bedrooms, 2 full baths, enclosed veranda, private patio, Cathedral ceilings and  European Country exteriors.  just a short drive from Hilton Head Island, Beaufort & Savannah.

A community clubhouse offers a great room, kitchen and game room for group gatherings. Outside, enjoy a luxurious lanai and outdoor fireplace alongside a sparkling pool. And stay fit in a professionally-equipped fitness room.

For More Information, Contact Agent

Greater Bluffton South Carolina is a real estate market area that consists of many gated and non-gated  communities within the 29909 and 29910 & 29927 zip code areas. Once a long lost sibling of Hilton Head Island, Bluffton as burgeoning, if not bursting at the seams, with many new planned unit developments.

This is a place with a good demographic mix, with Baby Boomers , many of whom call Sun City home; and the younger folk. Included in this area is Hardeeville (29927), which will one day become the fourth largest city in South Carolina

If you want to stretch it, Ridgeland is a short 17 miles from Bluffton, but it has a personality all of it's own. It will remain rural, but there are new communities being built and lots of open space for developers. Hilton Head Island is yet another stretch (17 miles to the beach) and up until recently, if you were to ask folks from Bluffton where they live, they'd say "the Hilton Head area, Bluffton"--somthing like that.

There are about 80 Planned Unit developments in BLUFTTON and a chief concern for residents is the fear that the quality of life they came for will be a thing of the past. Traffic has been an issue, but it is being addressed and very well, I think. ( When I hear people complain about the traffic problem, I have to laugh. I traveled the New York-New Jesey-Northern Virginia highways and byways--so, to me traffic here is nothing)

Those who want to look at this area and call it home--Have No Fear! This is the place to be. The Govenor and town fathers are on top of things and have plans in place since 2006, which they are acting on.

What follows are facts which will give you background on the "growth issues that faces South Carolina in general:

South Carolina is one of the fastest growing states in the United States and in the Southeast. A report by Rutgers University indicated that South Carolina was tenth in growth nationally and fifth regionally. SC is now fourth in number of acres being developed. From 1992 to 1997 over 100,000 acres per year were converted to urban use. The same report shows that the growth rate from 1982 to 1992 was only 40,000 acres per year. Consider just a few of the following facts:

• South Carolina's population will grow by another 25% in another 15 years. To support that growth we will need 525,000 new houses; 40 million feet of new office space; 13,000 hotel rooms; 50% more paved roads.
• SC is growing by 130 people per day.
• Farmland acreage has dropped by 34% since 1954.
• SC now has lost 12.4 million acres of forestland
• SC ranks 14th nationally in trip destinations.
• 29 million visitors come to SC annually.
• Tourists spend $1.9 billion annually in SC.
• Hunters, fishermen, and wildlife enthusiasts spend $1.4 billion a year.
• SC currently has 4.5 million acres of wetlands.
• 30% of the potential shell fishing waters is closed due to violations of state water quality standards.
• Since 1978, the amount of corporate WMA land has decreased by over 50%.

The Govenor of SC has asked for $50 million land conservation; to "bank" land which will not be developed. The purpsoe of this is to maintain the quality of life which draws people to South Carolina.

In Bluffton, one developer got the message

This week, the Governor dedicated 120 Acres for conservation easement in Palmetto Bluff, an upscale community located off of route 46 ( May River Road). These lands were voluntarily set aside by the developer of Palmetto Bluff, Jim Mozely. Mr Mozley thinks this is not only a good thing for the area but set-asides that prevent any future development and protecting the environment, it also has has the affect of raising property values.

"Governor Sanford says more developers need to embrace preservation to offset a ticking time bomb." (Sources: Bluffton Today) The land will remain a maritime wilderness, with walking trails, and small lookouts for people to enjoy the natural beauty.

Although Bluffton seems to be busting at the seams, it will dwarf what is anticipated in Hardeeville, SC (Jasper County). Too look at Hardeeville, it's hard to picture a place that will contain 150000 homes, which will create an economic powerhouse, especially becuase of Hardeevilles proximity to the Port of Savannah.

What I do hope is that we Yankees become more like  indegenious South Carolinians--I am working on it and quite frankly, I haven't "mashed my car horn in about 4 years. And,  I am still working on my "Y'all" it often comes out "yous."

 Levitt and Son, developers of The Tradition in Hardeeville, filed Chapter 11 on  Friday of last week.

"Abraham Levitt started Levitt and Sons as a luxury home builder in 1929. But the builder is best known for creating Levittown, which was developed for returning soldiers from World War II. The first Levittown home was sold in 1949 in New York's Long Island. Another Levittown opened five years later in Pennsylvania." (From Builder Online.)

The Tradition development began early in 2007. It was to be the first master-planned community of its kind in the regionm, encmpoassing 5,300 acres, and plans include more than 9,500 residences, a golf course, retail and commercial space. Land construction, including golf course development, is currently underway; home construction by early 2007.

Levitt deosn't look like they have the resources to make a come-back, but who knows. It's hard to say what will happen to those buyers who have constrution underway.

This information is posted on levitts web site:

"We remain mindful of Levitt and Sons' customers whose homes have not yet been completed. Through the Chapter 11 process, we will seek a mechanism that will facilitate the completion of some unfinished homes. Likewise, we will seek a resolution that will allow closings to take place for previously completed homes and spec homes. "

Existing customers are welcome to call the customer hotline at 877-538-4889.

Existing vendors are welcome to call 888-538-4893.

Additional information is available at the following link:

Chapter 11 Information

I am constantly amazed at the resilience of some segments in this current market.

Yesterday, I visited a new planned unit development: Hilton Head Lakes in Hardeeville, SC. I wanted to get educated on what looks like an up and coming, upscale gated community in an unlikely place: Hardeeville.

You may ask, where the heck is Hardeeville? Well, it's 'about 26 miles west of Hilton Head Island. Hardeeville is also the home of the Tradition, another planned unit (Levitt) development  off of route 278 which will be comprised of 9700 homes in years to come. Hardeeville, a rather rural looking area will have about 150000 homes by the year 2026

The Hilton Head Lakes P.U.D. is also off route 278 and first phase build out will be about 900 homes. This is a joint venture and one of the partners is Malphrus--a well know name in this area.  

According to Rush Lowther, Sales Executive, their grand opening this past week produced 62 lot sales! They are offering buyers "pre-development incentives"--i.e. there will be about an 18 month wait for city sewer and water, so lot prices are at their lowest now--a buying opportunity. As services are hooked up, prices will increase. There are financing options that allow buyers to hold their lots while they sell their existing homes.

Homes can be built by one's own builder, with minimum home requirement of 1800 square feet. Amenities will include fitness center, walking trails galore, and a commercial center which will provide include local shopping opportunities. There is also space reserved for a School.

If you're a buyer, just remember, it makes a lot of economic sense to have a buyer's agent represent your interest in any transaction. Our fess are paid by the seller. When you work directly with a developer or builders agent, they represent both sides of the transaction. This is not to your advantage. Plus, there are additional services we offer that can save buyer's time and money.