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Archive for October, 2015

VIDEO: How to Win your Dream Home in Myrtle Beach

Thursday, October 29th, 2015

The Grand Strand real estate market is heating up. If you’re buying a home and you’re in a bidding war, you’re going to need to have the strongest purchase offer available. I’ll go over five ways in which you can strengthen your offer.

  1. You have to bring your best offer. You might need to overpay a little bit if you’re really in love with a property.
  2. Get pre-approved and show the seller your letter from the bank. If you want to look good in the eyes of a seller, this is almost mandatory. Nobody wants to sell a home to someone that can’t prove that they can afford to buy it. This makes you nearly as good as a cash buyer.
  3. Put a minimum of 20% down if you can, and pay cash if you can. The odds are that your competitors aren’t paying cash, so this would definitely make you stand out.
  4. Remove all of the contingencies that you can live without. You can’t remove financing if you’re getting a loan, but you can remove things like inspections and warranties. Sellers like to see an offer that they don’t have to bend over backwards for.
  5. Be flexible to the needs of a seller.Often the best purchase offer is the one that satisfies the seller’s needs. Offering a lot of money is great, but if you can satisfy other needs for a seller, you’ll be golden.

If you have any further questions or concerns about how to win a bidding war, please don’t hesitate to reach out to me.

I look forward to hearing from you!

VIDEO: Be Careful, Zillow Could Derail Your Myrtle Beach Home Sale

Tuesday, October 20th, 2015

Zillow is a giant in the real estate industry. They aggregate tons and tons of data, and a lot of it is actually quite useful to the average consumer, but you need to take some of it with a grain of salt.

One thing in particular that you need to watch out for is the Zestimate, which is Zillow’s valuation of your home. How accurate is that value that Zillow places on your home?

On average, these Zestimates are off by 5-15%. A 15% difference on a $300,000 home is a matter of $45,000! It has also been stated that nearly every home value on the website is off by at least 5% or more. This is a huge margin of error.

I’ve even seen some homes on Zillow with prices that were nearly 20% off! That’s inexcusable.

These estimates work well with communities that have similar homes, but with mixed communities like we have here in Myrtle Beach, it’s hard for Zillow’s algorithms to place accurate values on homes. Some homes may sit next to a highway and they’ll be valued the same as a home next to a cornfield with a great view.

I don’t recommend anyone to use the Zillow Zestimate as a true market value. Always talk to a Realtor when you’re pricing a home or putting an offer on a home.

If you truly want to know the value of your Myrtle Beach home, please don’t hesitate to contact me. I would be very happy to assist you!