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February 20th, 2015

VIDEO: How to get yourself ready to sell this spring

Today I wanted to give you some tips on how to put yourself in the right mindset in order to sell your home. I’ve often said that the Myrtle Beach real estate market is a beauty contest and a price war. Today there is a whole lot more competition from new construction along the Grand Strand, probably than we’ve seen in 8-10 years.

For you this means you’ll be competing with brand new homes, and you’re home will have to be near-perfect. You’ll need a professional stager and perhaps some fresh paint inside and outside. Do whatever it takes to get your home ready. Invite a close friend over and have them critique your home as a prospective buyer. When we live in our homes, we don’t recognize the obvious flaws in them.

Get into the buyer’s mindset when getting ready to sell. What would you look for in a home? What things would stick out to you? You need to ask yourself these questions when you prepare to list.

Now, some important trends that home buyers can expect are continued low interest rates and easier financing from Freddie Mac and Fannie Mae. Rates are historically low and lower requirements for down payments will increase your buying power substantially. This is an excellent opportunity for first-time buyers. Keep in mind that you have a lot of choices between used homes and new construction homes.

If you’re selling, then you can expect a lot of buyer activity, but you also must remember that there is going to be a lot of competition. Do your research and find out more about your competition. Know what’s selling in your neighborhood and be sure to compete with the right price. Pricing your home is crucial, because it’s your chance to make a good impression on a buyer.

As always, if you have any questions related to the information above or if you have any concerns about real estate in the Grand Strand, be sure to contact my team or me. We would be proud to serve you.

January 30th, 2015

VIDEO: 2015 Real Estate Expectations

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!

January 21st, 2015

VIDEO: A new year in the grand strand

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!

November 28th, 2014

VIDEO: The dangers of overpricing your home

When you list your home and ask for more money than it’s worth, no one will take a look at it. When you look at the $600,000-$850,000 price range last month, only seven homes sold out of a supply of 300! We guarantee the seven homes that sold were priced at a fair market value. The homes that sit on the market for a long period of time are asking for too much money.

It’s critical to know the market statistics and where your home needs to be positioned so you can price it correctly. As a buyer, on the other hand, you also need to do your market research. If you want to get your dream home, you need to make an offer that’s fair. It’s no longer 2010, where buyers were able to get up to 20% below list price. You need to be educated enough to know when a lowball offer is appropriate.

If you’re selling, especially in the high-end market, you need to take every offer seriously. Buyers know they have a lot to choose from, as more than 250 homes in the high-end market failed to sell last year alone! Often times, buyers will throw a number out to try to get a reaction. You can either make a small counter to show that you’re open to working with them, or go back to the buyer and tell them you’re serious about selling, but you need a more serious offer before considering a counter offer. We encourage you to make a counter offer, because there just aren’t many buyers in the high end-market right now.

Thanks for stopping by our blog. We hope you found this information helpful. If you have any questions or topics you would like us to discuss in a future, please give us a call or shoot us an email. We would love to hear from you!

October 31st, 2014

VIDEO: Myrtle Beach Housing Trends

A question everyone along the Grand Strand commonly asks is, “How’s the market doing?” We currently have a pretty stable market here in Myrtle Beach. The inventory for single-family homes is at 7 months, with condos lagging a little behind, as is common during a recovery. We have a healthy balance of new construction right now, but resale inventory is fairly low. Overall, the market is growing at slow and steady pace, which is great news for our area.

Currently, the $300,000 and under range is the sweet spot here in Myrtle Beach. There is a huge demand for homes in that price range, so if you’ve been thinking about selling at that price point, you may be able to generate multiple offers and get a great value for your home. While homes are still selling in other price ranges, our large retirement population and tourism market cause the $300,000 and under range to stay the most active.

If you are looking to sell a high-end home, things are still moving slowly. Inventory is currently pretty high, and fewer homes sell per month than in other price ranges. That’s why it’s important to talk to a real estate professional. We can devise a strategy to help you make it look top notch and sell faster. It may require an aggressive pricing strategy to increase demand, get more firm offers, and get a great value for it.

If you would like to discuss our market in more details, or have need any assistance buying or selling in Myrtle Beach, don’t hesitate to give us a call. We would love to help you make the most of our current market!

October 10th, 2014

VIDEO: This Little-Known Weekend Getaway is Just What You Need

Many locals from Myrtle Beach like to take a weekend away in Charleston to relax. However, not many people are familiar with Bald Head Island here in North Carolina. It’s only about an hour from Myrtle Beach to Southport, where you’ll take a 20-minute ferry ride to the island. There are three ways to get around once you get there: bike, foot, and golf cart. It’s a fantastic village community – when you’re there, you feel a world away from the Grand Strand.

So, what are you waiting for? Start planning your vacation to this little-known slice of paradise today!