Tuesday, July 31, 2012

"So how IS the real estate market"

Are you getting tired of answering this question?  How do YOU answer it?  My response has always been, depends on whether you're a Buyer or a Seller.  If you are a Buyer then it is a GREAT time to buy - low interest rates + low prices =  GREAT VALUE.

If you are a Seller - If you don't have to sell, then its probably not a good time to put your home on the market, however, if you NEED to sell then PRICING is key.

According to Realtor.com inventory is declining on a national level and also in our market.


People are searching the # 1 web site for property in Myrtle Beach.  In May we ranked #75 and June #70.

The activity has definitely increased in the Myrtle Beach market.  I have seen increased showings, more inquiries and yes - contracts are being written.  It is still a Buyer's Market and will continue that way until we see substantial declines in inventory.

As of this morning, there are 4218 active residential listings-3776 have no stipulation of sale and 3,802 active condo listings in our MLS 3,433 have no stipulation of sale*.

*(Stipulation of sale = Foreclosure, Bank owned, REO, short sale)

Wednesday, July 25, 2012

"A picture is worth a thousand words"

How many times have you heard that old adage?  I think of it everytime I look at photos in the MLS!!

In our business great photos can make the difference in a sale or no sale!! Show or now show?  How are your photos?  When was the last time you updated that listing you have had listed for over 6 months?  Take new pictures of the outside.  Did the seller change anything inside?  Are your pictures blurry?  Put yourself in the place of an online Buyer searching listings online.. how do your pics compare to other comparable homes?

while scanning the MLS I found blurry pics,













Pic with flash in mirror

pic with outside light being washed out


this pic has what appears to be (maybe) a bottle of beer?? person in doorway and stuff left on countertop;

and my pet peeve - the toilet seat lid cover is up.

all of these photos can be corrected with just being aware of what you are looking at!!!!!

 Photo tips:
1.  Check resolution of camera
2.  Lighting: Avoid shooting rooms in direct sunlight. This strong light can cast shadows.
     Soft lighting conditions are best.
     Try taking photos at dusk and turn lamps on.
     Try not to turn on overhead lighting.
3.  Clean off countertops

Remember, a picture could be worth more than just a thousand words!!!



Saturday, July 14, 2012

Judicial vs. Non-judicial foreclosure states

Do you know if you are a judicial or non-judicial state for foreclosures?  check out Realytrac chart - here you can Compare all state foreclosure timelines on this simple one-page chart and click on any state name to read about detailed foreclosure procedures for your state.








In South Carolina, we are a Judicial state - meaning that there is a court proceeding to handle the foreclosure process.


If you are facing foreclosure, please contact an attorney to help you through the process!!


In Horry County - 1 in every 444 housing units received a foreclosure filing in June 2012.(Realtytrac)




For Realtors in the Horry County area, you can check the current foreclosure list online at the Master in Equity 









Thursday, July 12, 2012

Elvis and Real estate

What do they have in common?  Elvis sang one of my favorite lesser knows songs - A House That Has Everything from the movie "Clambake"  check it out 

Another song from the movie "Spinout" called Beach Shack -

Besides Elvis' house in Memphis- "Graceland", he owned many homes including one in Beverly Hills, Ca.  read more about his homes here.

I am a huge Elvis fan, and have been for years (since I was a teenager).  

My favorite Elvis song is probably Jailhouse Rock, but I love them all and it is really hard to choose a favorite.  

More Elvis coming soon.....


Tuesday, July 10, 2012

Condo dilemmas....

It used to be fun selling real estate, but now its getting harder and harder to even get deals closed.  Take for instance, selling a condo here at the beach.  One of the many questions I hear all the time is how do you know if a condo is FHA or VA approved.  This is something you can check quickly and easily by going to:
FHA - https://entp.hud.gov/idapp/html/condlook.cfm?CFID=17487015&CFTOKEN=2e2337b1704b8063-3846EF52-0530-56EC-838AEE8A86411193

or VA: https://vip.vba.va.gov/portal/VBAH/VBAHome/condopudsearch

This should be your first step if you have a buyer wanting to purchase using either of the two mortgage types.  if the complex is not currently approved, move them on to something else, the approval process for a condo project can take 60 days or more!!!

It's a cash world for condo buyers to make a smooth closing.

what are you seeing out there?

Happy Selling!!!