I am not in a hurry to sell! This is a common phrase in real estate heard when working with sellers.  The sellers want to sell their home, but don't want to give it away.  Also, sellers normally have a particular price in mind that they want their home to sell for.

What most sellers do not realize though, is when prices in real estate are declining and a high amount of inventory of homes available for sale in Myrtle Beach, SC, pricing your properly from the beginning is crucial.  What happens many times is a seller decides to list their home a few thousand dollars higher than market value to "See What Happens" and after a few months of no activity on their property we discuss improving the price.  At that time they decide to reduce, but do not reduce the price enough to make it worthwhile.

Let me give an example.  Say you have a beautiful 2 BR/2BA golf course condo that you wish to sell.  You contact me, as your Myrtle Beach Real Estate Agent to assist.  I check the comparables for the area and share that the comps for units similar to your unit are selling around $145,000 to $150,000.  Since you are a seller not in a hurry to sell and don't want to just give it away, you decide to list the home for $159,900 to just see what might happen.  As your real estate agent, I share that this is not going to help sell your home quicker, but agree to list your home at that price with a mutual understanding made that if your home does not sell in the first 60 days we will adjust the price at that time. 

After 60 days, we haven't had any offers yet, so as agreed I call to reduce the price to which you agree to change the price to $149,900 and be in line with what the market.  Only problem is that was the comparables from 60 days ago.  During that time, 3 more listings have come on the market as well as there have been two more sales making the market range now $138,000 to $143,000.

Do you see the pattern? Even though the seller is making improvements on the price of their property, they are still not getting in front of the market curve for price.  Unfortunately, until they get in front of the curve, the likelihood of their home selling is slim. The sad part about this is that what could have been set correctly in the beginning is going to cost more in the long run.  Not only has the home decreased in value more than the original range, but there have also been many more months of mortgage payments made, utility bills, and other various expenses. 

So remember, when listing your home for sale, are you in front of the curve always behind?

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Remember, if you know anyone looking to buy or sell real estate, contact me for assistance. Through my advanced real estate network, I can help anyone, anywhere in the world with their real estate needs! Our motto is "Your Satisfaction is Our Reputation!" We work hard to help our clients buy & sell real estate in Myrtle Beach and around the world.

Contact Jeremy Blanton, ABR, Relocation Specialist, REALTOR®, with Coldwell Banker Chicora Real Estate in Myrtle Beach, South Carolina at 843-449-4404 to list your property for sale or to purchase a property in Myrtle Beach, North Myrtle Beach, Conway, Murrells Inlet, and the rest of the Grand Strand area in Myrtle Beach, SC.

If you're thinking about buying a home in Myrtle Beach there are plenty of great deals in today's market and now is one of the best times to buy while interest rates remain low.

To keep up to date on the current state of the Myrtle Beach Home Market & other information about Myrtle Beach, subscribe to my blog via email here or visit online at www.myrtlebeachhomesblog.com.

Contact Jeremy or start your home search here - www.dennisgblanton.com. If email is your communication preference, email me at jeremyblanton@chicora.net.

For info on Myrtle Beach homes for sale, click here and then select the box that says Click here to search properties for sale along the Grand Strand.

Copyright © 2008 Jeremy Blanton...In Order to Sell a Home, You Must Get Ahead of the Curve!~ Advice from a Myrtle Beach Real Estate Expert.

When it comes to Real Estate Laws in Myrtle Beach. SC there definitely are plenty.  Unfortunately, people do not always understand these laws.  One area that seems to cause a lot of confusion is Agency. To see the state brochure on Agency Disclosure, click here. I actually wrote a brief post about Buyer Agency a few months back. If you are completely lost as to what buyer agency is, I would suggest starting here, Buyers: Get Representation!  This article goes through the differences between representing yourself in purchasing property and having a Real Estate Agent represent you.

So now you have decided that you need someone to represent you to purchase your Myrtle Beach Home and then the Real Estate Agent mentions something about Dual & Designated Agency that sends you back into a dither.  Breath Deeply, it is not as bad as you think! Here is what both of these types of agency mean.

South Carolina Designated Agency

First, let me explain South Carolina Designated Agency.  When a home is listed for sale, the Broker-in-Charge (BIC) is the actual person who holds the listing not the agent.  Designated agency only comes into play when an agent representing the buyer and the agent representing the seller have the same BIC.  When this takes place, both parties agree to sign an agreement that states that the BIC has designated the Buyer's Agent to work for the buyer and the Seller's Agent for the Seller.  Both agents are not allowed to share secrets about their clients and are supposed to represent their side only in the transaction.

This is not really a big difference than if the buyer's agent worked for a different company than the seller's agent.  Because of Confidentiality, agents don't share the private information of their clients with colleagues in the office.  To me, this is more of a formality & legal paperwork step.

South Carolina Dual Agency

South Carolina Dual Agency seems to be the concept that both agents & clients seem to get confused about.  Dual meaning two, is when one agent has already entered into an agency contract with either a buyer or seller and is then entering into an agency agreement with the other party. 

For example: I have a buyer client that has been looking for a specific need in a home.  I have worked with this buyer for 5 months but have not found the property yet.  But, when I list your property for sale, I notice your property has the 3 car garage with bonus room for under $500,000 in exact area of Myrtle Beach, SC that this buyer has been searching for.  I bring my buyer to see the home after I have it listed for sale and they fall in love immediately and want to write an offer.

In the example above, the buyer client and seller client are both being represented by me.  If both parties agree to enter into a dual agency agreement, we would sign another form allowing one agent to represent the buyer and seller in that transaction.  When someone enters into a dual agency contract, the Real Estate Agent is required to work unbiased to either side and cannot share confidential information about one client to another.  In other words they basically become a messenger passing back & forth the information.

Many agents fear dual agency because they feel it is very difficult to represent multiple sides in a transaction equally.  In my experience over the past 7 years we have been in dual agency on many occasions.  In fact, many of our sellers ask us to list their Myrtle Beach Property for sale because they want us to bring a buyer to sell the home quickly.  One thing we try to do is remain unbiased and give the best information possible whenever I am with a client in dual agency. 

Normally dual agency is not that big of a deal.  There are a few circumstances where it could be a little tricky and you may be hesitant to enter into dual agency.  Here are a few of those situations:

• Agent is related to one of the clients.
• Agent is a close friend of a client.
• Agent is the client.

In those situations it is sometimes difficult to remain unbiased when the agent has a close relationship with one of the clients.  However, I have in the past been in a dual agency agreement to sell one of my personal properties where I was also representing the buyer as a client of mine.  We did all the paperwork by the book, stayed unbiased and the transaction went smooth and effortlessly.

If for some reason you are uncomfortable being in a dual agency situation, that does not mean you cannot purchase or sell the property.  Simply ask your real estate agent to refer you to someone else who will represent you well. 

I hope this explains agency a little more clearly. In closing I would like to say that the real estate laws of every state are different.  If you live outside South Carolina and want to know what the laws are for your state, contact me and I can find local real estate agent to answer your questions.

If you are thinking of buying or selling a Myrtle Beach Home, contact Jeremy Blanton so I can assist you with your needs.  Remember, "Your Satisfaction is Our Reputation!" We work hard to help our clients buy & sell real estate in Myrtle Beach.

Contact Jeremy Blanton, ABR, Relocation Specialist, REALTOR®, with Coldwell Banker Chicora Real Estate in Myrtle Beach, South Carolina at 843-449-4404 to list your property for sale or to purchase a property in Myrtle Beach, North Myrtle Beach, Conway, Murrells Inlet,  and the rest of the Grand Strand area in Myrtle Beach, SC.

If you're thinking about buying a home in Myrtle Beach there are plenty of great deals in today's market and now is one of the best times to buy while interest rates remain low.

To keep up to date on the current state of the Myrtle Beach Home Market & other information about Myrtle Beach, subscribe to my blog via email here or visit online at www.myrtlebeachhomesblog.com.

Contact Jeremy or start your home search here - www.dennisgblanton.com.  If email is your communication preference, email me at jeremyblanton@chicora.net.

For info on Myrtle Beach homes for sale, click here and then select the box that says Click here to search properties for sale along the Grand Strand.

Copyright © 2008 Jeremy Blanton... Entering into a Dual Agency Agreement to buy or sell a home- It is not as bad as you think!

In keeping with tradition of sharing some of my most memorable experiences in selling Myrtle Beach Real Estate, today I share one that definitely is one I can never forget.  A couple that we had sold a home to a few years back had contacted us and to sell their home.

What made selling this home unique was that the sellers were getting a divorce.  When we arrived at the home for the listing appointment we noticed that the home had some rather awkward changes made to the home.  Mr. Seller we will call him "Barry" was not a big fan of people being able to see in the house, so he had nailed carpet over the front windows of the home.  Also, he was very concerned about someone breaking into the house through the side garage door, so he nailed that shut.  Then, he rewired the garage door opener to keep others from opening it.  To top it off, he added a few holes in the walls behind the curtains for safe storage places. 

However, this is not what I remember most about this seller.  One fine sunny fall day we had some buyers in town who needed a home that weekend and one of the homes that they had a major interest in was this listing of ours.  We called ahead and scheduled the showing.  When we arrived at the home, the driveway was empty and the home looked as if nobody was home.   Like usual we entered through the front door, ringing the doorbell, shouting hello.  Since there was no response, we entered into the home and began showcasing the listing to our buyers.  We started by showing the unbelievable kitchen, the great lake views from the Carolina Room, and then made our way toward the spacious master bedroom.  Our buyers were definitely falling in love with this great home. 

I then turned to the buyers and said, "if you love this home so far, wait till you see the great master bathroom with it's awesome garden tub!"   I slowly opened the door and to our surprise we found Barry in the tub.  And unfortunately, he was not alone.  The part that was even weirder was that he was not embarrased about us walking in on his tub party.  In fact, he invited us to come on in and look around.  The two much much younger women that were in the tub with him however turned brighter red than Rudolph's nose.  My buyers totally taken back turned around and made a mad dash for the front door.

Needless to say, these buyers had lost all interest in this home. In time the home finally sold and went to a wonderful family that has done some amazing renovations to this home.  I have had the pleasure of visiting this home on numrous occasions.  Why have I gone back so many times to this home?  Because my parents ended up purchasing the home!

Remember if you are looking to either buy or sell Myrtle Beach Real Estate or anywhere else in the world, do not hesitate to contact me to allow me to assist you.

Jeremy Blanton- Myrtle Beach Real Estate Expert

As Gustav begins to calm down, Tropical Storm Hanna begins to pick up force.  Hanna which was up to a category 2 hurricane and is now a tropical storm is expected to once again become a hurricane before making land fall somewhere along the east coast.  The projected path at 2:09 PM showed landfall anywhere from northeast Florida all the way to North Carolina. Here is a copy of the most current projected path from Weather.com

Nevertheless, Coastal South Carolina is expected to receive some heavy rains with strong winds.  With all of the tropical storms this season, it reminded me of an article I wrote a few months back about a great free online product called Insurance Vault.  It is an online program where you can upload photos of your possessions for insurance purposes in case of a natural disaster.  To find more information about Insurance Vault, read the article here.

Another important thing to do during the hurricane season is to make sure you have plenty of supplies on hand.  Michelle Tucker of Enterprise, Alabama put a great list of supplies to have on hand.  To see the list of items, click here. 

To stay posted on the latest updates on Hurricane Hanna, Ike, Josephine & other tropical storms, check back often.

Jeremy Blanton- Myrtle Beach Real Estate Expert

Myrtle Beach Real Estate has become rather accustomed to Homeowners Associations.  I would imagine more than half of the communities in our area now have some sort of association.  To some this is a great thing, to others, they hate the idea of having a board tell them what they can and cannot do with their property. 

Here are a few advantages and disadvantages to Homeowners Associations or HOA's.  First, lets discuss some advantages:

1. Get better rates on common utilities.  Although what is included in your monthly fee greatly varies, if it includes a utility you normally are getting a better deal.  For example, one local community called The Farm at Carolina Forest, has a monthly fee of $87.00 per month.  For that fee you get basic cable, trash pickup, & amenities.

2.  Amenities, Amenities, Amenities!  In order for a community to have amenities, they have to be managed by someone and be paid for by homeowners.  Typical amenities could include pools, baskeball courts, playgrounds, lakes, gated entrances, security, tennis courts and much more.

3.  Uniformity to Neighborhood.  This is the biggest complaint that people have in regards to a community.  They do not want to be told what they can and can't do. A community will have either a master deed, or covenants/restrictions that explain what you can and cannot do in the neighborhood.  It does not mean that every single home will be the same.

Why is this good?  Well the answer is easy...it helps to control your neighbors from doing things that may subtract from your home's value.  Here are a few examples of things that it may govern:

• Lawn and landscape-Not everyone is as meticulous as to how their lawn looks.
  
• What is in your yard- If your neighbor had 2 broke down vehicles in the front yard that had been sitting there for 2 years all rusted, weeds growing up through them, it would not help attract buyers to a home next door.
• Businesses/Hobbies- If your neighbor is starting their own rock band, you may be a little bothered by them constantly practicing at all hours of the night.  Most associations address this by having noise restrictions/curfews.
  
• Animals- As crazy as this sounds, there have been several cases where people want to have chickens, roosters, goats and other animals in their back yard.  Some may enjoy being awakened every morning by a rooster, but others would not.
• Appearance- Most HOA's regulate the exterior appearance of the home.  You cannot decide to make your home like a box of crayola crayons by painting half the house blue, half pink, adding yellow and green shutters, and a neon orange door.  Usually there is some sort of style your home has to be and any types of changes have to be approved first by an architectural review board.

So now that we discussed why HOA's are good, here are a few drawbacks:

1. Parking your vehicles- If you want to park an RV in your driveway or bring home a work truck with advertisements for your business, a lot of HOA's will not permit that in the neighborhood.  Also, they not allow a boat to be parked at your home.  Some HOA's are strict to the point of no parking on the street at any time.  If you do, you could get a ticket.

2. Restrictions on landscape & fences- Many of the HOA's restrict what type of fence you are allowed to install and also require approval to make changes to your landscape. (removing a tree, planting new bushes, etc.)

3. Rules & Regulations. If you are not used to living in an area where there are restrictions to your property use then going to a community with an HOA may not be an option to you.  Having to get approval to make changes to your home & land can sometimes be difficult and can cause stress if you are not allowed to do exactly what you want.

Jeremy Blanton-  Myrtle Beach Expert

Condominium for sale in Myrtle Beach, SC

$149,900 Location: 4823 Orchid Way Unit 104 Myrtle Beach, SC 29577 Map and Directions

Condominium 2 Bedrooms 2 Bathrooms

Description

Furnished first floor 2BR/2BA unit features crown molding, chair rail, & ceramic tile, pool and golf course views from the screened porch. Located close to golf, shopping, restaurants, area attractions and only 2 miles from the beach.

Photos

Neigborhood Info

Magnolia North is a wonderful Golf Course Community in the heart of Myrtle Beach. Magnolia North conveniently located close toCarolina Bays Parkway (Hwy 31), the new Hard Rock Theme Park, Coastal Grande Mall, Broadway at The Beach, Myrtle Beach International Airport, Golf Courses, and is only 5 minutes to the Beach.

Magnolia Northfeatures 1BR, 2BR, & 3BR condominium units. A limitednumber of these units have 1 car garages available also. Someof the great amenities of MagnoliaNorth are the numerous outdoor pools and BBQ areas. These spacious units range anywhere from 700 square feet fora 1BR to over 1300 square feet for a 3BR unit.

Some of the great interior features include crown molding, chair rail,ceramic tile and large rear balconies with an exterior storage closet.

The schools are:
Elementary School: Myrtle BeachElementary School
Middle School: Myrtle BeachMiddle School
High School: MyrtleBeach High School

Formore information about Magnolia North, or MyrtleBeach Real Estate, call Jeremy Blanton or Dennis Blanton REALTORS® with Coldwell Banker Chicora Real Estate at (843) 222-9402. We can help you with all of your Myrtle Beach, SC and Horry County real estate needs. Contact Us Today!

Listed by:
Jeremy D Blanton

Magnolia North Market Report

At this present time, Magnolia North has a total of 20 active listings.  This includes all 1BR, 2BR, & 3BR units.  Currently, there are 4 one bedroom units for sale.  Their prices range from $109,000- $135,000.  12 Two Bedroom units are for sale with their listing prices ranging from $143,500-$209,000.  The 2 Three Bedroom units are $239,000 and $243,900 respectively.  

The prices can be varied some based on whether the unit is a ground floor unit, has a golf course view, is furnished, or if a garage conveys with the unit.

Since January 1, 2008 there have been two units in Magnolia North that have sold.  The first was a third floor 1 Bedroom 1.5 Bath unit that sold unfurnished for $96,000.  The other unit that sold was a 2 bedroom, 2 bath unit on the first floor.  This unit was sold fully furnished.  The sold price on this unit was $135,000.

For more information about Magnolia North, or Myrtle Beach Real Estate, call Jeremy Blanton or Dennis Blanton REALTORS® with Coldwell Banker Chicora Real Estate at (843) 222-9402. We can help you with all of your Myrtle Beach, SC and Horry County real estate needs.  Contact Us Today!