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Archive for September, 2012

Home Prices Rise Again, This Time on the Low End

Wednesday, September 26th, 2012

By Shaila Dewan and Nelson D. Schwartz – The New York Times

The housing market continues to gather strength, and the biggest gains in price now appear to be among the least expensive homes, whose values fell the most in the downturn and have weighed against any would-be recovery.

Over all, the Standard & Poor’s Case-Shiller index showed an annual gain of 1.2 percent in the price of single-family homes across 20 cities in July, according to data released Tuesday. In addition, all 20 cities showed price increases from the previous month, the third monthly gain in a row, supporting the idea that the nation’s housing market has bottomed out and, some analysts said, contributing to an unexpected bump in consumer confidence.

Luxury homes lost less value in the housing crisis and began to rebound more quickly, but lower-price homes are catching up, rising slightly faster in value than homes in the middle and upper tiers, according to an analysis of the Case-Shiller data by Patrick Newport and Michelle Valverde of IHS Global Insight, a private research firm in Lexington, Mass.

The typical lower-price home rose at an annualized rate of 1 percent from June to July on a seasonally adjusted basis. The middle tier posted a one-month gain of 0.4 percent, and the highest tier inched up by 0.1 percent.

In the last three months, Mr. Newport said, the lowest tier has been rising in value more than twice as fast as the other two categories. For the least expensive homes, “prices just shot up too fast on the way up and then went down more sharply,” he said. “We’re seeing the correction from that.”


VIDEO: September 2012 Market Update for the Grand Strand

Tuesday, September 18th, 2012

Real estate prices slightly increased, sales jumped in July in Myrtle Beach area

Friday, September 14th, 2012

By Janelle Frost –

MYRTLE BEACH — Grand Strand real estate prices slightly jumped in July, an indication that prices are starting to stabilize, according to local Realtors.

The median price – the price at which half sold for more and half sold for less – of a single-family home was $164,000 in July, up 1 percent from the same month last year, according to the Multiple Listing Service.

The slight increase in price could be because a lot more new houses are being built, and they typically have a higher price than resells, said Tom Maeser, a real estate analyst for the Coastal Carolinas Association of Realtors.


VIDEO: Real Estate Seasonality

Friday, September 7th, 2012

Everyone has heard of real estate being “hot” in some seasons and notably “cool” in others. But when you’re talking about Myrtle Beach, does our resort community subscribe to the same on again, off again seasons? The answer is yes — and no. To find out how the time of year may or may not impact you as a seller (and buyer) watch my video today where I share some valuable insight on this topic.