Jeremy | Myrtle Beach Homes | Carolina Forest Homes

Apr 08 2019

Understanding Taxes When Buying A Myrtle Beach Home

It’s almost April 15th or National Tax Day, so I figured what a great time to cover a rather boring topic, but a topic that everyone who is thinking of buying a home in Myrtle Beach needs to know information about, property taxes. South Carolina was ranked by USA Today as one of the most affordable property tax rates in the country.

In the article published in 2017, the average property tax for homeowner in South Carolina is $1,294. Personally, I think this is main reasons why we have so many people moving from areas like Pennsylvania ($3,900), New York ($7,013), Virginia ($3,181), Massachusetts ($5,513) & New Jersey ($8,477). Higher tax rates & more severe winter weather, are the main reasons Myrtle Beach has consistently been one of the top places to relocate the past few years.

I’m originally from Reading, Pennsylvania and moved to Myrtle Beach, South Carolina right after graduation with my family. My parents were tired of dealing with the snow and higher cost of living, so we wanted a change and Myrtle Beach was an area they had visited multiple times over the years so it was a perfect solution for us to move here.

When I started to write this article, I wondered what the average taxes are on the home we owned in PA in comparison to the home my wife & I recently purchased.

Below is the estimated taxes on the home I grew up in Reading, which I did verify were accurate with a fellow agent in Berks County.

As you can see, the home there is now assessed around $123,000 according to what I could find online with an estimated annual tax of $5,369.43. This number is more than 4 times the average for what a primary homeowner in Myrtle Beach pays on their property taxes.

In comparison, my wife and I purchased a home at the end of January in The Farm At Carolina Forest has an assessed value of $176,980, and the annual property taxes on this home were $746.65 last year. What this means is that the home I grew up in that is valued over $50,000 less costs over 7 times the amount of taxes then our home in Myrtle Beach.

Now, this average number of $1,294 for South Carolina is taking all parts of our state into the equation including Charleston where the average is over $2,000 due to a higher price point on property and also does not separate primary homeowners from out of state & multiple property owners.

Primary vs Secondary in Myrtle Beach

One thing we have to clarify when discussing taxes is to determine whether the home is going to be a primary ownership or second home/investment property. It makes a huge difference in the amount of taxes you will pay in Myrtle Beach.

When purchasing a home in Myrtle Beach, Horry County automatically taxes everyone at the secondary tax rate and each homeowner needs to prove residency to the tax assessor to get the discount. This means you are assessed at the 6% tax rate instead of the 4% tax rate.

When I bought my first property in Myrtle Beach back in 2006, I did not know this and my taxes on a townhome valued at $110,000 were over $1,900 per year. Coming from the north where taxes were more than 3 times that, I was happy and just went on with life. Then after living there almost 2 years I realized that I was not getting a South Carolina residency discount and so I took the necessary steps to get thing changed over and my annual taxes then dropped down to $636.

Homes owned in this area as a primary residence versus second home or investment, are usually half to one third the amount of taxes owed, so it is very important to get your taxes switched over when buying a home in Myrtle Beach.

Documents Needed For Legal Residence Application

Here’s what documents will be required to get the SC primary residence discount:

SC Driver’s License/Identification card for owner occupants
SC motor vehicle registration showing current address for owner.
Copy of SC Voter Registration card
First two pages of current tax returns.

Horry County now has the ability to apply online here for the primary residence SC tax rate or you can do so at the Horry County Tax Assessors Office with all the proper paperwork.

Other South Carolina Tax Discounts

There are other ways to save on your SC property taxes, that are only available to certain groups of people.

Veterans Tax Exemption

The first tax exemption is only available to our veterans. They must apply for this discount, but is a well deserved benefit for those who fought to protect our amazing country.

Homestead Tax Exemption

The second discount is the Homestead Exemption which is a complete exemption of taxes on the first $50,000 in Fair Market Value of your Legal Residence for homeowners over age 65, totally and permanently disabled, or legally blind.

Just like the legal residence application, you must also apply for the homestead exemption in order to save. This too can be applied for online here.

For people thinking of retiring to Myrtle Beach, taxes is a question that is definitely on their mind. I recently had this question asked on my video of Plantation Lakes on my YouTube Channel.

As someone who would be on a fixed income source, knowing the taxes in Myrtle Beach is something that can be very important to know and understand before purchasing a home here to live in for the rest of your life.

Vehicle Taxes in South Carolina

Now, while South Carolina ranks as one of the lowest places for property taxes, SC also collects taxes on vehicles. When you purchase a vehicle in SC there is a one-time infrastructure (IMF) rather than sales tax. This fee is 5% of the price up to a maximum of $500 that took effect in July 2017.

Then there is an additional tax that you will pay annually when renewing your tags for the vehicle. Last month I paid the bill for my 2013 Honda Odyssey. The total amount due was $147.84. Here’s a copy of the recent bill so you can see how it breaks down.

This bill changes each year as the value of your vehicle depreciates. So unless you are buying new $70,000 vehicles every year, your bills should be rather minimal. I also just recently got the bill for my other vehicle to pay and since it is newer it is around $480.

Understanding Myrtle Beach Taxes

If you combine the taxes on our home plus our two vehicles, we still are paying under $1,400 a year for all of our taxes to live in South Carolina which is only a fraction of what we paid when living in the north.

Propety Taxes	$746.65
Honda Taxes	$147.84
Ford Taxes	$484.11
Total	$1,378.60

So in conclusion, while you might pay taxes on more than just your home, in the long run, you are still going to save money in the long run when your property taxes on your Myrtle Beach home are so much less than other parts of the country.

If you are thinking of moving to Myrtle Beach, I’d love the opportunity to help you find a home here in the area. Feel free to call me at 843-222-9402 or contact me below with any questions you might have.

Jan 23 2019

How to Keep Your Myrtle Beach Lawn Green This Winter

Many homeowners in the Myrtle Beach area commonly see their lawn turn brown in the winter. The natural tendency of warm-season grasses to go dormant is quite common in many South Carolina lawns. However, some homeowners may want to keep their lawn green all year which can be an easy task that you can accomplish in just a few steps. Check out these tips on how to keep your Myrtle Beach lawn green this winter for a beautiful lawn year-round.

Know Your Grass Type
According to data from LawnStarter, the most common grass type in Myrtle Beach is Bermudagrass, which is a warm-season variety. Additionally, the second most common grass type is Tall Fescue – a cool season grass which has totally different properties than Bermudagrass. Homeowners who don’t know what kind of grass they have in their lawn will be left wondering if or when the lawn will go dormant in the winter. Make sure to inspect your lawn, learn your grass type and read up on it to see which kind of grass variety is planted to know what steps to take to keep it green this winter.

Overseed with Cool Season Grass
For those more inland homes in the Myrtle Beach area, lawns may have other warm-season grass varieties like Zoysia grass. This variety grows well during the hot summer season but may turn brown in the winter. Overseeding lawns of these varieties in the winter will help combat the dormant brown color that can occur. Choose to overseed cool season grass, like Kentucky Bluegrass or Annual Ryegrass, in order keep the lawn green with varieties that can withstand the colder winter temperatures.

Add Extra Energy
Winters can be a hard season for grass to thrive due to the cooler temperatures. Make sure that your lawn has enough energy during the winter season with the application of fertilizer. Quick release fertilizers are a good option for greening up your lawn quickly but only last for a few weeks. Slow release fertilizers are spread in granule or pellet form and do an excellent job of providing long-lasting energy to a lawn over time. Both options are great for greening up your lawn but should not be applied at the same time to prevent burning. Other energy additions could include compost which is a natural energy source that helps create healthy soil that hosts the grassroots.

Mulch Fallen Leaves
Another great way to add natural energy to a lawn is to mulch fallen leaves. Choosing to mulch these leaves will help cut them down to a smaller size that can be easily absorbed. Dead leaves provide a natural form of nitrogen to lawns and can help boost the energy required to sustain healthy conditions throughout the winter. Allowing whole leaves to disintegrate onto the lawn slowly can do more harm than good as wet leaves will provide a breeding ground for mold and disease. Rent a leaf mulcher to do the job or mow over the leaves on the highest height setting to cut the leaves into smaller pieces.

Continue Watering
Just because the winter is a slow growing season doesn’t mean that your lawn needs to be thirsty. Consider adapting your watering schedule to comply with the weather patterns to keep the grass watered adequately. Many Myrtle Beach homeowners can water their lawns just 1-2 times a week in the winter to provide enough moisture to sustain a healthy lawn. Choose an automatic timer to take care of winter watering as well. The area rarely will see freezing temperatures but be aware of winter weather that could arrive and take steps to insulate watering systems to prevent freezing and burst pipes.

Keeping your Myrtle Beach lawn green this winter is easy with these simple tips. Knowing the kind of grass variety that your lawn contains is the first step to deciding to overseed during the winter. Continue watering and add energy sources to promote healthy lawn growth. All of these things will help keep your Myrtle Beach lawn green this winter to accentuate your beautiful home.

Olive Dawson is a gardening and landscape design writer and environmentalist. She is always searching for new ways to reduce waste and grow food organically. She is most proud of her homemade beauty products.

Dec 19 2018

Myrtle Beach Real Estate- What is A CL100?

When buying a home in Myrtle Beach, one of the more typical inspections that needs to be done is called a CL100 or Termite inspection, or wood infestation report on the home. These inspections need to be done within 30 days of closing to be valid and most lenders are going to require one to be done on most structures.

Here in Myrtle Beach, a CL100 is a very common component in the home buying/selling process. In fact, this report is done so often that it is actually an entire section in the Agreement To Buy And Sell Real Estate. Section 11 of the contract states:

Usually the CL100 is performed a few days prior to closing and never earlier than 30 days prior to closing to remain valid. These inspections are done by a licensed/insured/bonded pest control company and they provide a copy of the report to all parties and it gets signed by all parties at closing.

What If There Are Problems?

It is not uncommon for the report to come back with either active termite infestations or some other sort of wood destroying organisms to be present. We live in the south where the climate is warm and moist and it is just a delicacy to wood destroying organisms.

That being said, I would say that about 3 out of every 10 homes I sell come back with some sort of infestation or wood rot issues that need to be handled.

When the reports come back clean, normally the sellers will simply have the home treated and any rotten wood replaced and we move forward towards closing with no big deal. The expense, depending on how much damage is normally around two to three thousand or less in most cases. I’ve only ever seen one major case where an entire wall in a garage needed to be repaired that ended up costing more money and of course it delayed the closing because it took around 2 weeks to complete all the work needed.

Don’t Sweat It

In closing, I want to leave you with this final thought. If the property you are purchasing comes back with issues in the CL100 report, do not let it stop you from buying the home in Myrtle Beach. We deal with this issue on a somewhat regular basis and honestly, it is not that big of a deal.

The pest control company will simply treat the home for the issue, a handyman will replace any wood or drywall that needs to be done and everything moves forward. The one major benefit after the fact is that if you do have a home that has been treated, you normally will end up with some sort of termite bond on the home that you will be able to renew after the fact and never have to worry about this issue again in your home here in Myrtle Beach!

Oct 16 2018

How To Have A Luscious Lawn When Selling a Myrtle Beach Home

Curb appeal is essential when trying to sell your home to the right buyer. Making sure that your lawn is in excellent condition is a huge part of setting the stage when a potential buyer comes to preview your home. Make sure that your lawn shows prospective buyers that you care for your home and that more beauty awaits them once they step through the front door. Learn more about how to have a luscious lawn for your next showing with these tips:

Apply A Quick Release Fertilizer

Choosing to apply a quick release fertilizer to your lawn is a great way to instantly green up the grass as well as boost the overall growth. Many quick release fertilizers come in spray form to be easy for the soil to absorb. Make sure to read the directions on the fertilizer, as well as know the size of your total lawn area, in order to keep from adding too much fertilizer in one spot. Doing so could easily burn the grass and create a counterintuitive dead spot. Make sure to check the weather and apply the fertilizer after one of Myrtle Beach’s recent rainstorms to prevent runoff as well.

Mow Regularly

Choosing to mow your lawn the day before a showing is essential to providing the best curb appeal. Keeping an eye on your grass, and the recent weather patterns will help in making sure that your lawn is perfectly mowed before any showing. The Myrtle Beach area receives an average of 50 inches of rain per year which can make area lawns grow quickly. Consider mowing the lawn at an angle to create a polished and professional look. Never mow more than 1/3 of the total grass height during a mow to protect the root system. Busier homeowners may choose to hire a lawn care company when trying to sell their home in an effort to relieve stress and make sure that the lawn is well taken care of at any point during the week. The average price for a single lawn service is only $47 – a small amount compared to your home’s sale price.

Skip the Bag

While mowing you Myrtle Beach area lawn, consider doing so without the bag to allow grass clippings to fall back into the lawn. Doing so can be a great way to add an extra boost of natural energy to the lawn and encourage strong growth. Grass clippings break down easily and provide nitrogen to the lawn without the need for any other added chemicals. Make sure to blow any clippings from walkways or driveways, though, in an effort to keep the lawn looking tidy before a showing.

Keep Weeds in Check

With all of that annual rainfall, the weeds in the Myrtle Beach area can grow just as fast as the grass. Make sure to keep those weeds in check by regularly surveying your lawn and picking any weeds that pop up. The earlier you pick the weeds the better off your lawn will be when it comes to adding curb appeal during a showing. Applying weed control to the lawn can also be beneficial to keep weed growth down in the warmer beach climate of the area. Plucking weeds from the lawn is a great way to subtly show potential buyers that you care for your home.

Consider Your Grass Type

Many Myrtle Beach homes have lawns made up of warm season grasses. Bermudagrass is very popular in the area as well as Centipedegrass that does particularly well along the coast of South Carolina. As a warm season grass, both of these varieties will turn brown during the winter. Bermudagrass naturally turns brown in the fall to protect it from winter temperatures while Centipedegrass doesn’t go dormant but is known for dying during the winter due to lack of water.

Potential buyers want to see green grass in the lawn no matter what season they view your property. Consider overseeding your lawn with cool season grasses, like Kentucky Bluegrass or Tall Fescue, in order to provide a green lawn all year long. If you are sure that you have Centipedegrass, you can probably get away with not overseeding as long as you are diligent about watering all winter long.

Creating and maintain a beautiful lawn is important when your home is on the market. Make sure to continue to mow regularly as well as apply a quick release fertilizer to instantly green up your lawn. Consider mulching the grass back to the soil and control weeds as well. Knowing your grass type and how to combat a brown lawn over winter is also important. Choose any or all of these tips on how to have a luscious lawn for your next showing.

Tony Steine is a garden and landscaping writer at Lawnstarter.com. Tony prides himself on finding the easiest way to do anything he can, you can bet he’s tried to make his entire garden self-watering. Of course, he isn’t just about convenience either, adding a unique design flair to everything he does.

Oct 12 2018

What Type Of Lockbox Should Be On Your Myrtle Beach Home?

Yesterday afternoon I was out showing properties to a first time home buyer here in Myrtle Beach and as we approached the door of the property, she asked how we were going to get into the home since nobody was home to let us into the property. I explained to her that the key was secured in a lockbox that holds the key and gives easy access to REALTORS® to enter the property. As we got closer to the door, we noticed a combination lockbox on the door she mentioned how she would never want one of those on her home and she would feel unsafe having it hang there giving others access into her home at any time of the day.

It reminded me of a recent Two Minute Tuesday video I recently did on this exact subject. Check out the video below:

Whenever a home is occupied or holding the belongings of my seller, I am never going to install a lockbox like the one pictured above. While these combination style lockboxes have a level of security with the code, they also leave people selling their Myrtle Beach home at a great level of vulnerability.

See, most the time when a lockbox is installed on the property, the listing agent does not go back to the home again unless they are showing the home to a potential buyer, holding an open house, or to remove the lockbox from the property. That means, if a lockbox like the one above is being used, that code is not being reset from the day it is installed. While agents are supposed to be the people keeping the codes safe for homes, sometimes the buyers are nosey and see that code and could access at a later time. Unfortunately I’ve seen/heard people giving the codes to others and then they have access into your home at any time they please.

Also, when a lockbox like the one above is in use, the listing agent has no way to know when the lockbox is being opened or limiting the times it is accessed. Instead of using a combo lockbox, I feel agents should spend the extra money to get a MLS approved electronic lockbox like the one below.

The reasons I am a big fan of using these types of lockboxes is pretty obvious. First, these lockboxes are virtually indestructible and almost impossible to break into without the proper access codes. In comparison, the cheaper combo lockboxes have several videos on YouTube teaching people how to hack them open. I’ve actually used these videos to open one of my own that I had forgotten the code to in the past. It only took me about 15 minutes and I was in. MLS approved lockboxes are only accessible electronically and unless you have the application on your smart phone and have the 20+ digit alphanumeric code, you cannot access these boxes.

The second reason I prefer using these types of lockboxes on properties that are occupied is that they limit the times in which the lockbox can be accessed. Most of the time they are set from 8 AM-9PM. This means that the sellers can rest peacefully at night knowing that someone will not be coming in their front door while they are sleeping or showing up early in the morning while they are in the shower getting ready for work. With a combination lockbox, anyone with the code can access at any time of the day.

The third reason why using the digital lockboxes is that it keeps track of every time the lockbox gets opened and by whom it was opened. I went back into the system a pulled a screenshot below of activity on my listings from over 2 months ago. This way if something were to happen where my sellers had an issue in their home I could immediately check and see what agent was in their home that day and reach out to them. In the past I’ve had things get broken in a home during a showing, doors left unlocked, lights left on, an inspector accidentally leave the oven on, and much more. Since I had an activity log on the home, I could immediately check and know who was the person responsible for that happening.

After sharing these reasons, you may be asking yourself, why would any agent ever use one of the less secure lockboxes on a property? Well, there are a few reasons where I do use those type of lockboxes and they come in handy. Many times when a property I will place one of these types of lockboxes on the home. These lockboxes are usually about 1/4 the cost of the electronic loxkboxes.

I will also use a combo lockbox on properties where we might need a contractor to access the property. Many times I am helping my my clients get their home for sale in Myrtle Beach by assisting them with getting the home painted, carpets cleaned, and other items fixed throughout the home to make it show ready. I could go meet each of these people individually each time they need to get into the home and let them in, but most of the time, they are going to want to visit several times over a time period to do the work needed and I cannot be there. Because you need to join our local REALTOR® Association in order to access the electronic lockboxes and it is an extra expense, many contractors do not have the ability to access electronic lockboxes. I can simply give them the code and they can then go do what is needed on their schedule.

So, in closing, when you are selling your home in Myrtle Beach, do you want an agent that is using the cheap combination lockboxes on your home, or do you want an agent that takes your safety seriously and will spend the extra money to keep you, your family, and all your valuables safer?

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