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Jun 30 2014

The Importance Of Buyer Representation With New Homes

Tile FlooringAbout a year ago I had a really nice couple that was visiting from New York looking to purchase a second home in Myrtle Beach.  We looked at several properties and finally chose a new construction property that had an on-site agent representing the builder.

This deal was moving along very smoothly.  We had the mortgage taken care of, had all the inspections done and all the necessary repairs completed.  It was day of closing.  The buyers had come in town from New York, wired the money to the attorney, did our final walkthrough and punch list and we were now ready to close.

However when we arrived at the closing table with the attorney, the amount of the loan was incorrect.  The buyers had made a visit to Myrtle Beach without my knowledge and had gone down to this builders design center and made several upgrades to the property they were buying that totaled over $7,000 in additional costs.  So therefore the purchase price had gone up.  But, somehow these additional expenses were never updated on the paperwork that was sent to me, the closing attorney, or the bank.

The attorney called the lender and they said they were going to send back out the appraiser to re-appraise the property and would be back shortly.  So, we sat calmly at the attorney’s office waiting for the updated information.  Here is where the big problem came in.  The seller had sold several other units with many upgrades in all at a flat rate price.  It didn’t matter if there was $2,000 or $20,000 in upgrades, the prices were exactly the same.  So, when an appraiser tried to find a higher price since my buyer went and added more upgrades which were not available in the flat rate price, they could not appraise the property high enough.

New Home ConstructionSo, the seller stated that the buyer needed an additional few thousand dollars because the property was not appraising for the loan amount.  My buyers immediately panicked and were ready to walk away from the deal.  I assured them not to panic just yet.  I shared with the attorney that the upgrades were added to the property and that there were two options left for the sellers to do.  Either remove the upgrades (which would have included removing ceramic tile flooring, all the berber carpet in the home and more) or sell the unit for the amount it appraised for because my buyers were not going to pay more for upgrades than they were actually worth.

The attorney called the builder and they agreed to leave the upgrades in the property and sell for the lower price to the buyers.  My buyers thanked me over and over and were so glad to have me as their buyer’s representative.  Without my assistance, they would have either lost a wonderful property, or paid several more thousands of dollars out of their pocket to purchase.  This is just another example of why it’s important to have a REALTOR® represent you when buying a home in Myrtle Beach.  Even if it is a new construction home from a national builder.

The moral of this story is that sometimes the upgrades you add to a property cost more than they bring value to a home.  As a rule of thumb, you do not want to be the “King of The Hill” in a neighborhood.  It can cost you greatly when you go to sell.

Did you enjoy this post? If so, then make sure you subscribe by email to be notified every time we share something new. Thanks for visiting!

Did you enjoy this post? If so, then make sure you subscribe by email to be notified every time we share something new. Thanks for visiting!

Written by Jeremy · Categorized: Buying A Myrtle Beach Home, Myrtle Beach Real Estate · Tagged: myrtle beach new homes, new home development in Myrtle Beach

Jun 24 2014

The Importance Of Online Marketing To Selling a Myrtle Beach Home

Myrtle Beach Home For SaleIt’s no secret that selling your Myrtle Beach home can be a difficult task to do on your own.  With all the new regulations on financing, and laws in place.  With that being said, selecting the right real estate agent to sell your home is imperative.  One of the most effective parts of selling a home is how the property is being marketed on the internet.  Below is a list of items that are helping to sell homes.  If you are thinking of selling your home, you may want to print this out to ask the real estate agent if your home will be marketed in these places.

  1. Real Estate Website– Does the agent have an effective website that is drawing in buyers?  Recent statistics show over 85% of all buyers begin their real estate search on the internet before even contacting an agent. Also ask the agent if they have their own domain name website instead of just the website provided by the company.  For my team we have MyrtleBeachHomesBlog.com plus our local company, RE/MAX Southern Shores website.  In addition, we have exposure the RE/MAX national site.
  2. Real Estate 2.0- Social Networks & other websites are rapidly gaining in popularity.  Buyers are using sites like Facebook, YouTube, Instagram, Google+, LinkedIn & Twitter to find out the information about a community, the agent, and the surrounding areas before making contact with a real estate agent.  Our use of social media helps expose our listings to our connections on Social Media which is now over 37,000!Google.com
  3. Real Estate Blog– Buyers who begin their online searches are finding blogs each and every day with the information they are interested in.  On average, consumers read over 27 blog posts every week.  They are going to major search engines entering the keywords for information they want.  If you have shared content related to the terms the consumer is searching, you have the potential to be found and gain their business.

Remember these three areas of effective marketing in the current real estate market.  Unfortunately, just like many things in life, what is effective at one time may not work anymore now.  You need an agent that stays on top of the market and keeps track of what is and is not working in selling homes.

An article I read in our local paper a while back confirmed that our marketing efforts are targeted in the right direction. The article shared about how the Myrtle Beach Chamber of Commerce is focusing over 60% of their advertising towards internet marketing.  23.2% towards tv, 7% for newspapers, 5% on magazines 3% on radio & 1.8% on billboards.  Just as the chamber has come to realize, in order to be effective with marketing the focus needs to be on internet advertising!

So in closing, when you are deciding on an agent to sell your Myrtle Beach Home, make sure that they have a strong online presence to help take your Myrtle Beach Home from listed to sold by giving your home it’s greatest exposure online.

photo by: bsabarnowl

Written by Jeremy · Categorized: Selling Myrtle Beach Homes · Tagged: myrtle beach home, myrtle beach real estate, selling a myrtle beach home

Jun 24 2014

Plantation Lakes Home Market Report June 2014

Plantation Lakes HomesPlantation Lakes is one of the more popular home communities in the Carolina Forest area of Myrtle Beach.  Currently, Plantation Lakes has over 40 homes for sale ranging in price from a low of $329,500 up to $1,150,000.  The current average listing price is $512,016 and median listing price in Plantation Lakes is currently $459,000.

Of the current 40+ homes for sale in Plantation Lakes, surprisingly only four of the listings are 3 bedroom homes.  In contrast, there are currently twenty-five listings in Plantation Lakes that are 4 bedroom homes.  In addition, there are ten 5 bedroom and two 6 bedrooms currently for sale.

Here are the 6 most expensive homes currently for sale in Plantation Lakes:

Plantation Lakes Homes That Have Sold

While it’s great to see so many Plantation Lakes homes for sale, the question sellers want answered is: What Plantations Lakes Homes Are Selling & For Home Much? According to the MLS, in the past two months, eleven homes have sold in Plantation Lakes ranging in price from a low price of $285,000 to a high sold price of $600,000.  The average price for homes sold in Plantation Lakes is $404,008 and the median price is $395,900.

One thing I found interesting about the data I reviewed on homes in this community was the Days on Market (DOM).  There was a huge range in days DOM that went from a low of 30 days to a high of 877 days!  The median DOM however was still rather high at 230 days.

If you would like more information on homes for sale in Plantation Lakes, I’ve already done some custom searches to help make your job easier on finding the perfect home or lot for sale in Plantation Lakes below:

  • All Plantation Lakes Homes For Sale
  • Short sales in Plantation Lakes
  • Plantation Lakes Lots For Sale
  • Plantation Lakes 3BR Homes For Sale
  • Plantation Lakes 4BR Homes For Sale
  • Plantation Lakes 5BR Homes For Sale
  • Plantation Lakes 6BR Homes For Sale

If you are thinking of selling your Plantation Lakes home and would like more information on the current value of your home, fill out this form to find out what your home is worth and receive a free market analysis for your home in Plantation Lakes.

Written by Jeremy · Categorized: market reports, Myrtle Beach Real Estate, Plantation Lakes, Selling Myrtle Beach Homes, Uncategorized · Tagged: home for sale in plantation lakes, Plantation Lakes homes, plantation lakes real estate

Jun 23 2014

7 Tips To Selling Your Myrtle Beach Home

Selling a Myrtle Beach Home can sometimes be difficult, so I thought I would share a few tips on how to make your house an “Exceptional Buy.”  Hopefully these tips will help sell your Myrtle Beach home quicker and closer to the listing price.

1.  Price home correctly.  Price is definitely king when it comes to selling your Myrtle Beach home.  With a strong inventory of homes on the market, you need to be priced correctly in order to sell a home quickly. For example, if you have a 2 bedroom condominium for sale in a building where there are 25 other units just like yours, why would someone pay $50,000 more for yours?

2.  Make the outside of your home special.  First impressions are so imperative.  If you saw these two properties listed for sale for the same price, which would you want to see?

 

 

 

 

 

 

3.  Make your home like new.   Since there is a large inventory of homes available, buyers are not as interested in fixer upper homes right now unless the home is listed at an incredible price.  Instead, they want a home that looks like new and is in move-in condition.  Carpet & paint allowances are no longer as effective as they once were.  Instead, having all the work done ahead of time is becoming more profitable.  If you offer an allowance, the buyers will want the allowance as well as take the amount to replace/repair the property off their asking price. 

bed4. Everyday when you leave your home, leave it as though today is the day my house sells!  You never know when a buyer may show up that wants to see your home.  If they are only in town for that day, it is so crucial that buyers are able to see your home in its best state.  Here are a few pointers for the inside:

  • Make sure all the beds are made.
  • Fold and put away all laundry.
  • Place all dirty dishes into the dishwasher.
  • Clean up the childrens toys.
  • Wipe down the mirrors in the bathrooms after brushing teeth.
  • Clean the toothpaste out of the sink.

5.  Never turn down a showing!!!  Just because you don’t get a chance to do one of the things above, or you are busy with something else, don’t turn down a showing.  If you didnt make the bed that morning, IT IS OK!  The buyer can look past that when purchasing the house.  It is always better to allow the buyer to see a house that is not totally perfect than to turn away a showing.  if nobody sees the house, it’s almost impossible to sell your Myrtle Beach Home.

6.  List with an agent that can sell your house.  The agent you choose to sell your home has become increasingly more important.  You want an agent that is familiar with the area, that aggressively markets, and has a strong internet presence.  Some of the newer stats show that more that around 90% of buyers now search the internet before even contacting a REALTOR!  Make sure to chose an agent that understands online market, is familiar with social media, and uses it regularly in their marketing plan.

7.  Offer to pay towards buyers closing costs.  With the tightening of money around The United States, any type of assistance a buyer can receive will make the property listing look more appealing to them.  Make sure though before offering a certain amount that you will be within the regulations that most mortgage programs will allow.

For more information on how to get your Myrtle Beach home sold faster and closer to listing price, feel free to contact me for more tips and learn how my extensive marketing plan can take your home from being listed to being sold in Myrtle Beach.

 

photo by: dan taylor

Written by Jeremy · Categorized: Active Rain, Selling Myrtle Beach Homes · Tagged: selling myrtle beach homes

Jun 18 2014

How to remove foul smells from a drain quickly & safely

Last night when I came home from celebrating a birthday, I noticed our sink drain was starting to get a funny smell. So, I grabbed the baking soda & vinegar to fix it. Right as I was about to begin, my wife asked, “Why don’t you do a video about it for your blog?” I was stunned I had not thought of it!

So, if you ever have a drain that has a bad smell, watch this brief video to learn how to clean it out and deodorize your sink quickly, safely, and easily.


There are many other ways to clean your sink, but I think this way is one of the most fun and very safe. With toxicity becoming a more and more prevalant concerns, this is a completely non-toxic way to clean your drain. Here is the recipe I use:

3-4 Tablespoons Baking Soda
2 Cups Distilled Vinegar
2-3 Cups Hot Water

If you have any questions/comments, feel free to contact me. Also, stay tuned to learn more tips/tricks to keep your home in Myrtle Beach in working order.

Written by Jeremy · Categorized: Myrtle Beach Home Tips

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