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5 Reasons Selling Without an Agent is a Bad Idea

Do-it-yourself projects are in vogue these days. You can find advice online for everything from investing in crypto-currency to tearing down the living room wall. When considering the cost of moving, it’s natural to wonder if real estate commissions are one way to save money, but it would be a mistake. A good real estate agent might make it seem easy, but the fact is that selling your own home could actually cost you thousands of dollars.

5 Reasons You Shouldn’t Sell Your Home without an Agent

1. The Safety of Your Home and Family is a Priority – Real Estate agents control access to your home.

2. Most Serious Buyers Start their Search Online – A professional listing area will market your home aggressively online, which is where the buyers are searching.

3. The Buyer Might not be Qualified – A real estate agent knows how to qualify a buyer and what to look for with lender letters. Selling your home on your own risks wasted time with an unqualified buyer.

4. You Don’t Know How to Negotiate Properly – Every aspect of a real estate transaction is negotiable; you don’t have the experience to know what to negotiate to get the best deal.

5. You Could Expose Yourself to Liability – Required disclosures and paperwork for a home sale is extensive; unless you plan to use an attorney, you could miss critical disclosures and expose yourself to financial harm.

Finally, more often than not, sellers net more when they use an agent than when they try to do it themselves. In addition to selling faster, a professional agent knows how to properly price and promote your home, ensuring you get the best possible sales price and terms.

So call us anytime. 843-272-6754 We are happy to answer any questions and look forward to offering our professional services.

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5 Questions Buyers Have During the Coronavirus Outbreak Answered

 

Everyone is being affected in some manner by the outbreak of Covid-19 coronavirus. During this time, buyers will have more questions than normal about the home buying process and their ability to buy a new home. While we can’t predict what the next few weeks and months will bring, the more we can educate ourselves, the better we can help buyers navigate the buying process smoothly during the pandemic. Here are a few common buyer questions as they related to the Coronavirus outbreak and real estate answered.

1. Can we still go see home listings in person? 

This is the hardest question to answer and it will depend on the home, the seller, the agent and any fast-changing governmental policies put in place. Agents should be able to offer a Skype or Face Time home tour virtually. Talk to your agent to find out what they have available for the buyers to prescreen the home virtually before setting up the visit; they might have virtual tours already available which can help rule out those that don’t suit their needs.

2. How can I stay safe while visiting homes?

Everyone’s health has to be the priority; this includes the buyers, sellers, and agents. If you are going to see a home in person during this time, carry hand sanitizer and wipes to use before, during and after the tour. Drive separately from your agent meet at the homes. During the tour, designate one
person to open doors, drawers, and closets and use disposable gloves during the showing.

3. What happens if I lose my job during the escrow period?

Most real estate contracts include a contingency that protects the buyer in the event they can’t get final loan approval and close the loan. Typically during the process, this contingency is removed after a set time frame, or after receiving the loan approval. Since every aspect of real estate is negotiable, consider asking for the contingency deadline to be extended and in place until the close; talk through this aspect with the seller and their agent in advance to set the right expectation.

4. Will I still have access to the home during the escrow period? 

It’s very common for the buyer to have easy access to the home during the escrow period; home inspections, appraisals and just measuring are all common reasons to visit the home during escrow. Consider grouping these activities whenever possible.

5. Will I get a better deal if I wait to buy a new home? 

We all know there’s no crystal ball, but with everything that’s going on, sellers on the market should be very motivated
to sell. There are also historically low-interest rates on home loans. There is no way to predict the future, so if the right home comes along, it makes sense to consider it.

The Covid-19 outbreak is causing some uncertainty among home buyers, sellers, and even agents. However, with the use of technology and following best practices, you can still find the home you’ve been waiting for during this time.

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Answering 5 Questions Sellers Have about the Market during the Coronavirus Outbreak

There are so many questions and concerns amid the Covid-19 coronavirus outbreak. The real estate market is especially hard hit and sellers are concerned. Real estate at its core is a people business. It relies on person-to-person interaction and the coronavirus necessarily limits this contact. As the summer selling season begins, home sellers may  have questions, and it’s important to our agents to acknowledge concerns and offer practical advice and concrete information to help sellers make the best decision for themselves and their families.

  1. Should I still try and sell my home? 

    Of course, there are many aspects to this question. First and foremost, the health concerns of the sellers’ family have to be taken into consideration. Unless absolutely necessary, the elderly and those with underlying health issues should not allow unnecessary people into their homes; including buyers and agents. If the household is essentially healthy and not considered high-risk, then this could be a great time to sell. Consider the advantages of lower inventory coupled with low-interest rates; as listings become rarer, the remaining inventory will get more attention which could create better offers.

  2. Is it safe to have people through my home?

    This is certainly a concern, but there are practical steps you can take to ensure safer home showings.
  3. What can I do to protect my family during showings?

    Protect the home, family and visitors alike by taking the following precautions.
    Keep hand sanitizer at the front door to offer buyers and their agents when they enter the home.
    If there is a guest bathroom, keep disposable hand towels and soap for guests to use and make the request known to the showing agent.
    Offer disposable gloves for use with a receptacle for used gloves.
    Limit the showing days and hours so you can properly clean between showings.
    Have cleaning wipes handy.
    Request agents to wipe surfaces, door handles, and banisters which are touched during the showing.
    Ask your agent to offer virtual showings or host virtual open houses
  4. What happens if my buyer loses their job? 

    Most real estate contracts include a contingency for the buyer loan approval and funding. Now more than ever, it’s critical to keep that contingency in place. In the unfortunate event the buyer loses their job or can no longer qualify for the loan during the contingency deadline, the parties cancel typically cancel the contract.

  5. Will I get a higher price if I wait to list my home?

    The truth is that no one knows. We don’t know how long or short the crisis will be, and we don’t know how the financial market will weather the outbreak. While this is a question the seller will ultimately need to decide, the old adage about a “bird in the hand” is important to remember.

The recent spring selling season was proven to have unique circumstances. Please contact us to learn more about the current outlook and opportunities in the  local market.

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April 2020 Monthly Market Report

April 2020 Monthly Market Report

As COVID-19 impacts the country, the CCAR market statistics for May prove hopeful for the
local real estate market. CCAR CEO Laura Crowther delivers the latest market stats for our area.

April 2020

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March 2020 Monthly Market Report

March 2020 Monthly Market Report

As COVID-19 impacts the country, the CCAR market statistics for March prove hopeful for the
local real estate market. CCAR CEO Laura Crowther delivers the latest market stats for our area.

Myrtle Beach single family homes closed sales up 2.5% for single family homes

Myrtle Beach Condos closed sales were down 12% for Condos

Myrtle Beach homes for sale - the median sales price for single family homes was up 2.5% to 245925Single Family

pending sales for single family increased 0.5% for single family inventory dropped 2.5%

Days on market for single family homes increased 2%

Median Sales Price for condos up 7% to $145,000

Pending sales for condos decreased 33% inventory increased 6%

Days on market for condos decreased by 12%

 

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Barefoot Resort

Barefoot Resort & Golf entrance sign

 

In every city or county, there are always one or two neighborhoods that are the showpiece for the area. Everyone would love to live there, and often show it off to their friends and family when they visit.

North Myrtle Beach’s prize community is Barefoot Resort, and even though a home there can be quite affordable, its residents often mention the name with pride.

Four famous architects, Greg Norman, Pete Dye, Tom Fazio and Davis Love III got together in 1998 and designed four championship golf courses, making use of unincorporated land on the outskirts of North Myrtle Beach and the Intracoastal Waterway which ran through the acreage. A few years earlier, Barefoot Landing – one of the most unique and enticing outdoor shopping complexes around – was built next to the proposed site, which added even more desirability to the project.

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Seaside Plantation Homes

Seaside Plantation Real Estate – North Myrtle Beach Homes for Sale

Seaside Plantation is a gated community near the ocean in the Ocean Drive section of North Myrtle Beach. The main gate is near the corner of Hillside Ave. and 8th Ave. North.

Just a few steps to the beach, the community boasts a swimming pool, heated spa, putting green, club house, several lakes and water features throughout.

Screen Shot 2016-03-30 at 3.59.07 PM

Seaside Plantation has 162 home sites. See Seaside Plantation Homes Current Listings

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ABC pilot is filming in Myrtle Beach

CCAR1513846

“The Death of Eva Sofia Valdez” is now filming at this amazing home that is currently available to purchase.    To learn more about purchasing this home see below link below.  They will be filming until April 4th.   If you’re interested in being an extra, visit the TW Casting Facebook page at https://www.facebook.com/TW-Casting-1574496922804861/.

 

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CHERRY GROVE CANALS DREDGING PROJECT UPDATE

North Myrtle Beach, SC – February 5, 2016 – On December 14, 2015 the North Myrtle Beach City Council approved the final assessment roll for the Cherry Grove Canals Dredging Project. On December 17, 2015, the City filed that final assessment roll with the Horry County Register of Deeds and the Horry County Clerk of Court. When property owners included in the assessment district receive their annual property tax bill from Horry County in October of 2016, their first annual assessment for the dredging project will be included as part of that bill.

During their regularly scheduled February 15, 2016 meeting, the North Myrtle Beach City Council will consider first reading of a bond ordinance to finance the initial dredge of the Cherry Grove canals.

The current schedule has dredging occurring from November 2016 through April 2017.

It appears that a small number of canal property owners are inclined to file lawsuits against the City because they disagree with City Council’s decision to move forward with the dredging project as designed. While it is the right of any property owner to file a lawsuit, the City wants all concerned to be aware of the practical impact this will have on the project.

The City cannot enter into dredging and financing contracts with litigation pending. Lawsuits are expensive for both sides and they can take years to conclude.

The City’s current dredging permit from the U.S. Army Corps of Engineers will allow the City to accomplish the two planned dredges, but only if the initial dredge is not delayed by litigation. A delay may well require the City to expend additional resources to extend the existing permit or to obtain a new permit. This diversion of resources might well leave a second dredge unfeasible within the City’s current cost predictions.

The City did not propose to property owners that the canals be dredged. Property owners have for over a decade asked the City to head up an effort to dredge the canals. The City has done that, spending close to $3 million in court to determine who actually owns the canals—the State, and committing to invest more than $2 million in actual project costs. Add to those costs an abundance of City staff time and resources.

The City has pursued and continues to pursue all avenues for funding assistance for this project. These include federal and state agencies, potential public and private grants, and more.

An untrue rumor continues to persist among some property owners that the nearby Town of Ocean Isle Beach, NC, used Town funds to have similar canals in its jurisdiction dredged for the homeowners who live along them.

North Myrtle Beach City Council and staff visited Ocean Isle Beach, toured the canals located there, and talked directly with the town’s Mayor about how the canals are dredged. Ocean Isle Beach has never spent Town funds to dredge the canals located there. All dredging costs have been paid for by those who own property along the canals that are dredged because they are the primary beneficiaries of the dredging. Those same property owners continue to pay into a canal maintenance fund. Following their initial dredge, maintenance dredges have become less expensive.

In summary, it would be illogical for any property owner to expect a better answer as to how to fund this project. All funding avenues have been explored and, thus far, exhausted. The only possible result of lawsuits regarding this project would be for the City to have to abandon this project, which, again, it was requested to accomplish by canal property owners. Left unattended, the channels will eventually fill in to the point where they are no longer navigable even at high tide. The City hopes that this does not occur.

 

This letter was posted by the City of North Myrtle Beach  February 5 at 2:48pm ·