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Archive for January, 2015

VIDEO: 2015 Real Estate Expectations

Friday, January 30th, 2015

Welcome back, we are excited today to be bringing you the latest news from The Grand Strand real estate world. Interest rates continue to be a topic that people are always asking me about. Obviously, I don’t have a crystal ball that says what rates will be later in the year, and nobody does. What we do know about interest rates is that they are at all-time lows right now, right around 4%.

They are going to go up eventually, although we don’t know by how much or when. In The Grand Strand, interest rates play a big role in what people can purchase in our area. If interest rates rise by even 1%, they will slow down our sales considerably. However, any rate under 5% is a great rate for purchasing a home.

Another thing I get asked about all the time is new construction. Many buyers in The Grand Strand want a brand new home, so we are seeing a lot of new construction in our market. The land has been scooped up at great prices and we expect new home sales to trend higher than they did in 2014, when 45% of home sales were newly built homes.

As for condos, we still have not seen the high-rises go up, just a few projects here and there. We don’t anticipate any new condos on a large scale in 2015 because we still have a lot of inventory on hand.

Thanks for checking out the blog. If you have any questions for me that are specific to your property, give me a call or send me an email. I look forward to talking with you soon!

VIDEO: A new year in the grand strand

Wednesday, January 21st, 2015

Welcome to 2015! As we begin the new year along the Grand Strand, we wanted to give you a forecast on what we anticipate the real estate market will be bringing us in this coming year.

After talking to a lot of home builders, appraisers, and top producers, the consensus is that we will trek along the same path in 2015 as we did in 2014. This means continued growth in both the single family home and condo markets. We expect to see low inventory for another few months until spring rolls around, along with a steady 4 or 5% appreciation.

In the spring, we predict days on market to continue to be around 5-6 months. Inventory will definitely rise, but so will demand. We’re predicting a fairly active market, so there will be a lot of options for buyers to choose from.

Thanks again for checking out our blog. If you’ve got any specific questions about real estate or your property, be sure to give us a call or send us an email. We can’t wait to hear from you!