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August Foreclosure update

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Foreclosure Stats are in from Realtytrac.com: For August 2012 1 in every 677 homes in South Carolina received a foreclosure filing. 1 in every 692 homes in Horry County received a foreclosure filing in August 2012. 148 homes filed foreclosure in the Myrtle Beach area this includes zip codes, 29588, 29575, 29579, 29577 and 29572.  The highest filings were in the 29579 and 29588 zip codes. Foreclosures will continue to hit our market, but the rate at which they are being filed is slowing down. There are still some great buys here at the beach!!!! For more information or a list of the newest foreclosures call or email me. Sue Lucas Re/Max Southern Shores https://www.facebook.com/CarolinaForestRE www.suelucas.com 843.997.4595 sl1586@sccoast.net
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Understanding Capital Gains in Real Estate

Understanding Capital Gains in Real Estate When you sell a stock, you owe taxes on your gain — the difference between what you paid for the stock and what you sold it for. The same holds true when selling a home (or a second home), but there are some special considerations. How to Calculate Gain In real estate, capital gains are based not on what you paid for the home, but on its adjusted cost basis. To calculate, follow these steps: 1. Purchase price: _______________________ The purchase price of the home is the sale price, not the amount of money you actually contributed at closing. 2. Total adjustments: _ ______________________ To calculate this, add the following: Cost of the purchase — including transfer fees, attorney fees, and inspections, but not points you paid on your mortgage. Cost of sale — including inspections, attorney fees, real estate commission, and money you spent to fix up your home just prior to sale. Cost of improvement...
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Elvis and Real estate

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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  song 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.....
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