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Jan 11 2018

Most Expensive Homes Sold On The Grand Strand In 2017

That’s right! It’s time for the annual Myrtle Beach luxury home wrap-up where I share with you the 10 most expensive homes to sell along the Grand Strand in this past year. This marks the 4 year in a row that we have shared this real estate information with you. Now while you may not be able to afford a luxury home in Myrtle Beach at this time, it is always fun to see these beautiful grand homes with the high price tag.

Since this is the fourth installment, you may want to check out previous years which you can see 2014, 2015, and 2016 here. Below you will find listed the 10 most expensive homes to sell during 2017 along The Grand Strand from least expensive to most expensive.

10. 1277 DeBordieu Blvd, Georgetown, SC 29440- $2,110,000 The first home in our top 10 this year was a fantastic opportunity in DeBordieu Colony to not only own an amazing oceanfront home, but also purchase the lot next door as well. This 5 bedroom 5.5 bath oceanfront home was sold with a second sub-dividable oceanfront lot next door. As you enter this home there was a grand double staircase that greeted you that is gorgeous.

9. 1837 S. Waccamaw Drive, Garden City Beach, SC 29576- $2,115,000 8 Bedrooms, 7.5 baths were found in this oceanfront home in Garden City. Only 3 years old and with over 5,000 square feet inside helped place this home easily on our top ten list this year. In addition to being oceanfront, this home also had it’s own private swimming pool and a breakfast bar where you could sit 10 people.

8. Lot 6 Atlantic Avenue, Pawleys Island, SC 29585- $2,200,000 The was our first new construction home to top the list in a long time. This was a 5 bedroom, 5.5 bath new home situated in the Assey section of Pawleys Island. It featured both ocean and inlet views as well as access to a shared dock with gazebo.

7. 9857 Bellasera Circle, Myrtle Beach, SC 29579- $2,250,000 At number 7 was a beautiful home in the Grande Dunes. This home featured 4 bedrooms, 4.5 baths a movie theater, dynamic kitchen, and an infinity pool with amazing views of the Intracoastal Waterway.

6. 40 Seaview Loop, Pawleys Island, SC 29585- $2,250,000 This 5 bedroom 6.5 bath home was only one year old when it sold in July of 2017. With all of the porches & decks this home featured it had over 7,300 square feet under roof of space for entertaining. You could walk right out the back door of this home right down your own private deck onto the beach in North Litchfield.

5. 1145 S. Waccamaw Drive, Murrells Inlet, SC 29576- $2,350,000 While we marveled at the under roof size of our #6 home on the list, this property had more square footage in just the heated segment at over 7,500 heated square feet. This home had an amazing 10 bedrooms, 10.5 baths, a private heated pool, elevator to all three floors, and a kitchen with 2 of everything. That’s right, 2 refrigerators, 2 dishwashers, 2 microwaves, & 2 washers & dryers.

4. 1201 Norris Drive, Pawleys Island, SC 29585- $2,400,000 Built in 2002 this 5 bedroom, 5.5 bath oceanfront was found on the Peninsula at Inlet Point and had some amazing ocean views while being only steps to the beach.

3. 100 Ocean Park Loop, Georgetown, SC 29440- $2,500,000 For number 3 on our list of 10 most expensive homes sold in 2017, we head back to DeBordieu Colony. This 5 bedroom, 5.5 bath oceanfront masterpiece was built in 2001 and featured heated floors even in the bathrooms.

2. 6502 N. Ocean Boulevard, Myrtle Beach, SC 29572- $2,892,000 Our second most expensive home to sell in 2017 was the highest price sale in the city of Myrtle Beach for the entire year. This oceanfront home built in 2013 along the Golden Mile featured stainless steel commercial appliances, quartz countertops, and a dramatic infinity pool with amazing views of the Atlantic Ocean.

1. 1344 Parker Drive, Pawleys Island, SC 29585- $3,298,500 As the only home to break the 3 million dollar mark for 2017, this stunning home sat in it’s own private reserve overlooking the ocean and Huntington State Park. This home featured an energy efficient system that kept heating and cooling this home to an average bill of around $37 for the year in this 4,350 heated square foot home. This home was purchased with all cash as well.

So now that I’ve share the most expensive homes sold, what does this mean for the Myrtle Beach Luxury Homes market in 2018?

Myrtle Beach Luxury Market Stronger Than Ever

In 2017, more homes over one million dollars have sold in Myrtle Beach than in 2014 and 2015. In 2014, there were 49 Million dollar homes that sold for a total of $77 million in inventory. In 2015, there were 64 million dollar properties that sold for a total inventory of over 95 million. 2016 saw 72 luxury homes in Myrtle Beach sell for 101 million in inventory. 2017 crushed those numbers with 88 homes selling with price tag above 1 million for a total inventory cost of $128,646,000.

In comparison to the market in 2016, there spread between luxury home prices is trending upward. While last year there were 2 properties to sell for 3 million, the next closest price was 2.195 million. This year the average sold price of our top 10 list came in at an astounding $2,436,500. Also, this is the first time since we began reporting this information that all of the top ten most expensive homes to sell on The Grand Strand were over 2 million.

Breaking the Sales Down

When you break down the top 10 list for 2017, I found it interesting that half of the properties were sold with financing while the other 5 were purchased with all cash. That shows me people see the value in investing into our local real estate market. Also, all of the luxury homes sold this past year had some sort of water feature attached to the home. Most had a view of the ocean, or marsh, and one even had the intracoastal waterway. Once proving that waterfront properties remain in high demand, especially when it comes to luxury home buyers.

When you break down the sections of the beach, more luxury homes were sold in Pawleys Island than any other section of the beach again this year with 34 homes. Myrtle Beach zip codes came in second with 26 properties sold, Garden City with 14, North Myrtle Beach 9, Surfside Beach 3, Murrells Inlet 2, and one outside the area, were sold this past year for over a million dollars. So, if you are looking for a luxury property, your best bet is to look either in Pawleys Island or Myrtle Beach it would seem.

What’s Available For Sale Now?

Below you will find all current luxury homes for sale in Myrtle Beach that are over one million.

Pawleys Island Luxury Homes

If you found this post interesting, would you do me a favor & share it with your friends? Also, if you are interested in purchasing a luxury home along the Grand Strand, feel free to call me at 843-222-9402 or contact me through my site.

Obviously, not everyone can afford a luxury home like the ones listed above. Did you know that the average property I sell in Myrtle Beach this past year was under $150,000? While property values continue to rise in Myrtle Beach, there still are plenty of options out there to find affordable housing in Myrtle Beach. I’d love the opportunity to help you find your perfect home that fits your needs in any price range. Do not hesitate reaching out to me today to discuss.

Jan 02 2018

Five Things Every Home Inspector Checks In Myrtle Beach

When buying a home in Myrtle Beach, should you get a home inspection done? What will the home inspector check when going through the property? I’m going to cover this topic in today’s Two Minute Tuesday Video:

Should I Have A Home Inspection Done When Buying a Home In Myrtle Beach?

When you are buying a house, one of the things I always suggest is for my buyers to get someone to do a professional home inspection of the home. This means hire a licensed insured home inspector to come into your property and check everything about it. It will cost a few hundred dollars and take the person a few hours, but they will do a full and complete walkthrough of the property to make sure there are no major issues found throughout the property. Now in Myrtle Beach, they are going to check for five main areas of the house. They are not going to cover things that are cosmetic though. So you want to make sure when you are doing your contract if you see something cosmetic like a cracked tile or chip in the wood that you put those things are written into your contract to get them addressed.

Five Areas Checked

When a home inspector comes into the property, they are going to go over the entire property and do visual inspections of everything, but they are going to focus into these 5 main areas:

Structure
Heating/Cooling System
Plumbing
Electrical
Appliances

These five areas are what a South Carolina Residential Agreement directly talks about in the contract. If the item mentioned by an inspector does not fall under one of these 5 categories, then it’s possible the seller will resist taking care of the item.

Structure

Let me start by stating this, your inspector is not going to do a full structural inspection of your home. In order to do that, you would need to hire a structural engineer who has specific training to handle such a thing. What a home inspector in Myrtle Beach is going to do instead is a visual inspection of the property. They are going to make note of any defects or things that look out of the normal. If they see a crack in the foundation they will alert the buyer of it. If the buyer has greater concern based on the findings in this original report, they could then hire a structural engineer to come out to the property and do a specific structural inspection of the home.

The home inspector is also going to check the roof to make sure there are no leaks noticeable to the eye. They will go into the attic and make sure that nothing is out of the ordinary. That there is the proper amount of insulation present to keep the home insulated right. If they see any signs of a prior leak, they normally have a moisture meter that they will then test the affected area to see if it just a stain from previous issue or if it is something that is current and needs to be addressed immediately. They will walk around the exterior of the home and make note of any wood rot, or damage caused by wood destroying organisms as well.

Heating/Cooling System

The second main area the inspector is going to focus on is your HVAC system. Now, home inspectors as a whole are not normally experts on everything related to your heating & cooling system, but, they are going to do a full visual inspection of your equipment. They are going to make sure that if it’s a hot summer day the air conditioning is working and making cool air. If it is a cold winter day, the heat is working properly and it’s making warm air. They are going to note the age of the unit, and make sure that there are no leaks on any of the lines and that all dr

ains are properly installed and that drain pans are in place.

They will open up your filters and make sure that they are clean and that the coils in the unit are also fairly clean and free from any debris that could cause the unit to work hard and thus wear out quicker. They will also run tests to check the outflow vs intake of air temps. They will use their best skills to make sure your system is running optimally.

Plumbing

During a home inspection in Myrtle Beach, they are going to check this third section, the plumbing systems. While they aren’t going to be able to see what is going on behind the drywall, they are going to test all your faucets throughout the property and make sure that they are working properly. They are going to look under the sinks and make sure that when the water drains out that it is not leaking.

The inspectors are going to make sure your drain plugs are in proper working order and that there are no leaks in the faucets. The home inspector is going to give you all kinds of information about your hot water heater like it’s age, size, whether it has an expansion tank, if it is heating water to a proper temperature without being too hot. They will make note of the temperature to make sure you do not get scalded when taking a shower, or placing a child into a freshly drawn bath.

Electrical System

Next, the inspector is going to go the electrical box and they are going to check to make sure that there is nothing faulty in there. They will make note of the amperage in the box. They will do a thorough inspection of the panel to make sure that somebody didn’t take a circuit breaker and stick it in on their own, improperly. This could be a major fire hazard that could burn your house to the ground at any moment if not addressed.

The inspectors are going to go to every single outlet in the home and make sure they are working properly and are grounded. They are going to test the GFCI outlets in your kitchen and bathrooms to make sure they are shutting off when surged to keep you protected. They will check all the lights in the home and make sure they work properly as well.

Appliances

The fifth and final area they are going to test are the appliances. The home inspector is going to make sure that your dishwasher is running properly and free of leaks. That your garbage disposal doesn’t make a clanking noise when turned on because something is stuck in it. That the ceiling fans are not wobbling and about to fall down. He’s going to make sure that all appliances are in working order as of that day.

This does not mean that the week after closing that one of the appliances might break down. They are machines that can break down at any moment. When we moved to the area, we had bought a fairly new home and one month after moving into the home, the refrigerator that was only 3 years old broke down and wasn’t cooling any more. Luckily we had purchased a home warranty that covered us and we only had to pay a service call to have someone come and fix it. This is one of the many reasons I also recommend my clients get a home warranty when purchasing property. It gives you an added level of protection for that first year of ownership for a minimal fee.

Wrap Up

These are the five areas that the home inspector is going to check when they come into your property. While it does cost you some money to hire them to do the inspection, I hope I have now given you a much clearer explanation of what is covered so that you can see the value in hiring one when purchasing your next home in Myrtle Beach. When completed, they will provide you a very in depth report of just about anything and everything you would ever want to know about your new property you are buying.

If you have any more questions on what a home inspection covers when buying a home in Myrtle Beach, or anything else related to buying or selling a home in Myrtle Beach, feel free to reach out to me. You can either call me at 843-222-9402 or use the contact form to email me directly.

Dec 29 2017

Happy New Year!

I just wanted to take a minute to say Happy New Year to everyone who is a regular reader here on my blog. In 2018 one of my big goals is to create more video content on things happening here in Myrtle Beach. Whether it’s information on a Myrtle Beach neighborhood, real estate advice, or something highlighting a local business, be ready for much more video content this upcoming year.

Make sure to go over to my YouTube Channel & subscribe as well as like my Facebook page in order to be receive all this content as it is released. Also, if you need any help with anything related to real estate either in Myrtle Beach, The Grand Strand, or anywhere in the world, do not hesitate to reach out to me. I’ve got an amazing network of agents all across the country that would love to assist you with all your real estate needs.

Have an awesome 2018!

Dec 26 2017

Does it Cost More To Buy A Myrtle Beach Home With An Agent?

One of the questions I get asked regularly is how much more does it cost me to have you represent me when buying a Myrtle Beach home Jeremy? See, there is this common misconception that it costs more money to have an agent work on your behalf when purchasing a home for sale in the area. Buyers just remember seeing on a closing statement this large amount of money that is being paid to an agent and they immediately think that they could have saved more money by not using an agent, or just using the listing agent. Unfortunately this type of thinking is completely inaccurate in most cases.

Section 5 of the Exclusive Right To Buy Buyer Agency Contract from the SC REALTORS® it goes through in great detail how someone is compensated. To be completely transparent with you on what these options are, I’ve attached a screenshot of this segment of the contract below:

Three Ways An Agent Gets Paid

As you can see, there are only 3 ways that an agent can be paid. Some of these options include you paying out of pocket to have an agent to represent you. But in almost all cases, you do not have to pay. The first way, is via a Retainer Fee in which the buyer pays a nonrefundable retainer fee of agreed upon amount that is due at time of signing the contract. This can then sometimes be applied to the brokerage fee as well.

The second option is a Service Fee in which the buyer pays the broker a service of an agreed upon amount that is paid whether or not buyer purchases any property. There’s options as to whether that’s all an agent receives or if there is the ability to earn more as well.

The third option is for an agent to receive compensation from a brokerage fee, which is the way I’ve worked with almost all of my clients purchasing a home in Myrtle Beach. See, when someone lists their home for sale with an agency, they sign a listing agreement that not only discusses the total amount of commission the seller is willing to pay out, but it also discusses how much the seller wants to have offered to the agent bringing the buyer.

Seller Pays Agent, Not The Buyer

See screenshot from SC REALTOR® Exclusive Right To Sell Agreement:

As you can see in the above graphic, the seller has signed an agreement already to pay the agent bringing the buyer to their property long before you have ever even seen the home. They sign this listing agreement prior to an agent processing any type of paperwork. This all gets done long before any offers have been made by the buyer. So the seller pays, not the buyer.

Will I Save By Using The Same Agent?

Some think that if they use the listing agent they will save money because they are representing both sides. The thing is, when this happens, all you do is place even more money into that agents pocket. They get the selling side and the buying side. Yes, they are going to end up doing much more work, but you as a buyer are not going to get the best representation from that agent due to the fact that they already have a relationship in place with the seller of the property. They have already spent weeks working on their behalf, marketing their property and building that relationship.

When you hire the agent as a dual agent, they basically just become a messenger then working on your side and also on the seller side. All the agents can do then is let you know what the seller said and convey to the seller whatever information you want them to do. They can’t give you as much consultation and the absolute best representation because they have to remain impartial. At the end of the day, seller is going to get the same amount of money out of the deal, you don’t get as good representation, and the dual agent gets an even larger check. So this option doesn’t really help you at all.

Any Chances The Buyer Pays?

Now, there is a scenario where the buyer would have to actually pay a commission to a buyers agent which would only take place if the buyers have a signed agreement in place and then proceed to try and purchase a For Sale By Owner (FSBO) in which the seller does not agree to work with an agent. In the past 17 years in this business, I have yet to find one who will not at least agree to hire work with a real estate agent that has a ready willing able buyer present wanting to purchase their home. Most of the time, the sellers will gladly pay what the agent has placed in section C of the compensation section as long as the person buys their home. But, if the FSBO decides that they will not pay, and the buyers are set on purchasing that particular property, then the payment to the agent would become the responsibility of the buyer to pay either the specified amount or percentage that was agreed upon at the time of signing the agreement.

Other than this exception, it does not cost anything extra to have an agent represent you when buying a home in Myrtle Beach.

What About Buying New Construction In Myrtle Beach?

The other common misunderstanding is that when someone buys a new construction home in Myrtle Beach that they will end up paying more for the home when they go to a neighborhood with a buyer versus going on their own. This statement is totally incorrect. When someone has an agent represent them with the purchase a new home from the builder, they normally will end up saving them money, or help them negotiate upgrades into the sale.

I recently helped some awesome buyers from North Carolina purchase a home here in Myrtle Beach from one of the many national builders in the area. I was able to negotiate several thousands of dollars off the purchase price as well as get the buyers an $6,000 upgraded tile shower, a large concrete patio, 6 ceiling fans, appliances, and much more. If that buyer had gone into the neighborhood on their own, they probably would not have tried negotiating the price at all with the builder or ask for any of the various upgrades.

I had estimate till it was over I saved them close to $10,000 off the purchase price as well as another close to $13,000 in upgrades in the home. Having agency representation whey buying new construction definitely pays! The build also then paid me a commission for bringing the buyer for this home.

Wrap Up

So in closing, the one thing I always say to buyers when meeting with them and explaining how buyer agency works is this: Make sure to hire someone to represent you. I hope that the person hired is me, but I know that isn’t always the case. The main thing is to find an agent that you can relate to and work well with. Once you find that person, sign the agency agreement and let them work on your behalf. Just make sure you have the right fit before signing the agency contract. Once you sign up, you are contractually obligated to work with that person until your agreement expires. Hopefully though, you work well together with this person and they can help you find the best home possible for the best price possible, in the exact location you wanted and you will spend years of happiness in your new property in Myrtle Beach. The best part is that having this type of relationship with an agent will not cost you anything more!

If you are thinking of buying a home in Myrtle Beach, I’d love the opportunity to work on your behalf in finding a home, so give me a call at 843-222-9402 if I can be of any further assistance, or do not hesitate to fill out the contact form to reach out to me.

Dec 18 2017

North Myrtle Beach Christmas Light Show

This past weekend was my mother’s birthday and we wanted to do something fun with the family to celebrate her birthday. So I loaded the family up in the van and picked up my mother to head to the North Myrtle Beach Christmas Light Show. We tried to go to see these lights last year, but the day that we went they were unfortunately closed.

So, this year we double checked on their website that it was going to be open and headed up highway 31 to the North Myrtle Beach Sportsplex which is home to the light show. This light show is a drive through style where you can enjoy the 1.5 mile long drive throughout the sports complex while viewing over 2 million lights festively displayed. There are over 500 light displays with some as tall as 55 feet. There is even a segment that is synchronized to music along the way.

After viewing the nice display, you can then park and go enjoy some of the other great things to do inside Santa’s Village where you can find a petting zoo, village treats, a train ride, ice skating, a 40′ inflatable slide, and a lighted tree top adventure. To enter the light display is $15 per vehicle with up to 15 guests and then there are additional fees to participate in other activities around the village.

The park opens at 5:30PM and I would HIGHLY recommend if you are wanting to visit, to get there close to that time. We arrived around 5:35PM and it only took us around fifteen minutes to enter. When leaving around 7PM, the line to enter was backed up for miles. My guess is that those waiting in line would be waiting there for close to 2 hours for entry.

My kids (ages 9, 7, & 3) all loved the light show and had an absolute blast in the petting zoo after. If you have younger children, I would highly recommend adding this onto your to-do list during the holidays.

If you would like more information on visiting The Great Christmas Light Show of North Myrtle Beach, you can find all the details on their website.