Myrtle Beach Real Estate Information Archive

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Myrtle Beach Real Estate Market Trends – Myrtle Beach Foreclosures

by The Jerry Pinkas Team

Real Estate Market Trends in Myrtle Beach SC

There are a total of 19468 properties currently listed for sale on the Grand Strand

Total Properties Listed: 19,468

Month-Over-Month Change:   - 1%


Average Month-Over-Month Price Change:   - 1%

 

August  2009

 

6590 total Condos listed for sale on the entire Grand Strand

1104 - One bedroom units listed for sale. The lowest priced unit is asking $24,900, with a median price of $129,900, and the highest priced one bedroom unit is $375,000.

6590 – Two bedroom condo units listed for sale.  The lowest priced unit is asking $39,900, with a median price of $161,900, and the highest priced two bedroom condo unit is $1,575,000.

2120 – Three bedroom condo units listed for sale. The lowest priced unit is asking $54,900, with a median price of $246,132, and the highest priced two bedroom condo unit is $2,100,000.

 

6288 total Homes listed for sale on the entire Grand Strand

3612 -Three bedroom homes listed for sale. The lowest priced unit is manufactured home with land  asking $39,900, with a median price of $199,000, and the highest priced two bedroom condo unit is $5,000,000.

1604 – Four bedroom homes listed for sale.  The lowest priced unit is manufactured home with land  asking $39,900, with a median price of $369,000, and the highest priced two bedroom condo unit is $5,999,000.

 

CALL US For the inside track on the Myrtle Beach Real Estate Market,

 

 

Myrtle Beach Condo Expert helps you find Myrtle Beach, SC Foreclosures and make well informed real estate decisions in the process.

 

 

Jerry  Pinkas - is your local expert in all your Real Estate needs in the Myrtle Beach Area.  Our Team is dedicated to inform our clients on how to be a pro in the local real estate market and avoid common pitfalls that are costly. You will have access to the most comprehensive MLS Listing Service in the area with Free access and with lots of tools for both Buyers and Sellers. Award Winning – Top Ranked – Highly Recommended – Call The Pros - Google  Us, or call (843) 839-9870; Put our team to work for you today. 

Why Buy A Foreclosure?

by The Jerry Pinkas Team

Foreclosures are a fantastic way for buyers to find properties at below market value. It is a good tool for people looking to invest in real estate, and to get a great deal.

If you are going to make an investment and purchase Myrtle Beach Foreclosures, you will want to become familiar with some of the terms used to describe and categorize properties in foreclosure.

In general, the foreclosure process starts when the owner or the borrower, defaults on the loan payments. (Usually these are mortgage payments, tax payments or home owner’s association payments)   The lender files a public default notice, called a Notice of Default or Lis Pendens. The foreclosure process can end in one of four ways:

1.     The borrower/owner reinstates the loan by paying off the default amount to during a grace period. This grace period is also known as pre-foreclosure.

2.     The borrower/owner sells the property to a third party during the pre-foreclosure period. This is known as a Short Sale or Pre Foreclosure Sale.  Usually this will require third party approval (the bank or lender) to agree and write off the loss. The Short Sales allows the borrower/owner to pay off the loan and avoid having a foreclosure on his or her credit history.

3.     A third party buys the property at the end of the pre-foreclosure period.

4.     The lender takes ownership of the property, usually with the intent to re-sell it on the open market. The lender can take ownership either through an agreement with the borrower/owner during pre-foreclosure (deed in lue of foreclosure) or by buying back the property. These are also known as bank-owned or REO properties (Real Estate Owned by the lender).

 

Buying a foreclosure is not like buying a traditional piece of property. It all depends on what part of the foreclosure process you make your purchase.  You’ll want to consider things like tax liens, transfer fees, and home owner association liens.

The best way to maximize your buy is to work with a buyer’s agent that is skilled in the process of Foreclosures.  A buyer’s agent will work for you, in your best interest in all relevant areas of the transaction and can save you a lot of time aggravation and money.  There isn’t any cost to hiring a good buyer’s agent that has the up to date information needed, and knows the market place.

You will also want to get your resources ready.  That means if you are paying cash, have your paperwork in order to prove where your funds are coming from for the purchase. If you are financing your foreclosure purchase, you will want to get a letter of credit form an approved lender that is verified and can close your loan in that particular area. The last thing you want is to find the perfect property only to lose it to someone else bidding that has all there ducks in a row. You will also want to consider that just because you found the perfect deal, others may also think they have found the perfect deal. You may have competition as many foreclosure properties are now receiving multiple offers at the same time.  Get your paperwork in order before making and offer so you can get the upper hand on negotiation.

A great tool in the Myrtle Beach Foreclosure Search is to sign up for VIP Foreclosure Listing alerts at --à http://www.homeguidemyrtlebeach.com/  You will get the upper hand on any new foreclosure listings before they hit the market and get a jump start on your bidding competition.

As with any Real Estate investment, it takes time and skill to put together a deal that will meet all of your criteria.  If you know what you are looking for, and put the tools in place, you can have a successful and smooth purchase.  It’s a great time to buy! Some great deals are currently being made.  Isn’t it time for you to get the deal of the decade!

JP Real Estate - is your local expert in all your Real Estate needs in the Myrtle Beach Area.  Our Team is dedicated to inform our clients on how to be a pro in the local real estate market and avoid common pitfalls that are costly. You will have access to the most comprehensive MLS Listing Service in the area with Free access and with lots of tools for both Buyers and Sellers. Award Winning – Top Ranked – Highly Recommended – Call The Pros - Google  Us, or call (843)839-9870; Put our team to work for you today.

Myrtle Beach Market Trends - Myrtle Beach Foreclosures

by The Jerry Pinkas Team
Trends in Myrtle Beach Real Estate 

1 in every 9,054 housing units received a foreclosure filing in July 2009
For the Month of July a total of 137 New foreclosure activity
Foreclosure activity counts per Myrtle Beach Area zip code
29577 - 45
29579 - 36
29588 - 21
29572 - 21
29575 - 14
 
The estimated Median Home value for July 2009 is $175,824 based on total of 52,704  homes
 
Geographical Comparison of Myrtle beach to the national average
The National Average of the foreclosure rate is at .28% percentage of units by the entire country
the Myrtle Beach average of the foreclosure rate is at .18% percentage of units by the area
 
National Top 5 Foreclosure Rate Ranking by City for July
1) Winchester , CA  - 1 in every 11 housing units received a foreclosure filing in July 2009
2 Tolleson, AZ - 1 in every 11 housing units received a foreclosure filing in July 2009
3) Elgin, OH - 1 in every 12 housing units received a foreclosure filing in July 2009
4) Mount Hamilton, CA -1  in every 12 housing units received a foreclosure filing in July 2009
5) Bellemont, AZ - 1 in every 13 housing units received a foreclosure filing in July 2009
 
4454) Myrtle Beach, SC - 1 in every 9,054 housing units received a foreclosure filing in July 2009
How can you profit from the $700 billion bailout?
How can you approach and negotiate Foreclosures the RIGHT way?
Methods for creating equity in a property
How to SUCCESSFULLY negotiate short sales with the bank
PLUS insider strategies and techniques from the
MOST EFFICIENT foreclosure expert in the Myrtle Beach Area.
 
For the inside track on the Myrtle Beach Real Estate Market,
Sign up for VIP Foreclosure Listing alerts ----> http://www.BuyBankOwnedMyrtleBeach.com/
 
Myrtle Beach Condo Expert helps you find Myrtle Beach, SC foreclosures and make well informed real estate decisions in the process.
 
 

Jerry  Pinkas Real Estate Team - is your local expert in all your Real Estate needs in the Myrtle Beach Area.  Our Team is dedicated to inform our clients on how to be a pro in the local real estate market and avoid common pitfalls that are costly. You will have access to the most comprehensive MLS Listing Service in the area with Free access and with lots of tools for both Buyers and Sellers. Award Winning – Top Ranked – Highly Recommended – Call The Pros - Google  Us, or call (843) 839-9870r team to work for you today.

 
 

Myrtle Beach Golf Condo - 2 Bedroom 2 Bath Condo Directly on the Golf Course

by The Jerry Pinkas Team

Myrtle Beach Golf Condo – 2 bedroom, 2 bath $98,900.  WOW - THIS IS ONE OF THE BEST VIEWS IN THE ENTIRE RESORT.  2 bedroom, 2 bath condo is located DIRECTLY ON THE GOLF COURSE AND OVER LOOKING THE POOL COMPLEX in the Myrtle Wood Golf Community.  Prime central location in Myrtle Beach, close to the beach, ocean, shopping, restaurants, and Broadway at the Beach.  Desirable second floor unit with a fantastic view. This condo features an open floor plan, full kitchen, and a private covered balcony with access from the living room and the master bedroom, overlooks the course and pool. Both long and short-term rentals allowed, or use it for yourself.  Enjoy a round of golf or relax by the pool. Fresh paint and carpets have just been cleaned, ready to go!  This 2 Bedroom Myrtle Beach Golf Condo  is located at 4681 Wild Iris Drive - Magnolina Place 19-201, Myrtle Beach, South Carolina  Home owners association fees are $347.79 a month and include: insurance, water, trash, exterior maintanace, pool service, recreation facilities, manager, and cable TV.  

 

JP REAL ESTATE EXPERTS - is your local expert in all your Real Estate needs in the Myrtle Beach Area.  Our Team is dedicated to inform our clients on how to be a pro in the local real estate market and avoid common pitfalls that are costly. You will have access to the most comprehensive MLS Listing Service in the area with Free access and with lots of tools for both Buyers and Sellers. Award Winning - Top Ranked - Highly Recommended - Call The Pros - Google or call (843) 222-1926; Put our team to work for you today.

You can sign up now for VIP ACCESS to all the latest Myrtle Beach Foreclosure listings. www.GetMyrtleBeachListings.com

Myrtle Beach Foreclosure - Oceanview Condo Myrtle Beach Foreclosures

by The Jerry Pinkas Team

Myrtle Beach Foreclosures -OCEANVIEW - FORECLOSURE - 1 bedroom 1 bath condo with private balcony, features two separate sleeping areas. Living & dining area with wall bed and sleeper sofa, and separate bedroom with 2 full size beds sleeps up to 8 people! Sold furnished. Unit is located on the 2nd floor of Jonathan Harbour Resort in Myrtle Beach, SC. Unit 209

The resort features an indoor & outdoor pool, kiddie pool, lounge chairs on the oceanfront sundeck, and relaxing enclosed whirlpool.  Great location on the south end of Myrtle Beach, close enough but far enough away from the traffic and congestion.  Close to the New Market Commons with Restaurants, Cinemas, Shopping, Nightlife and much more.

This unit has Brand New Refrigerator and Stove, fresh paint, and ready for you to enjoy or vacation rentals. This property is a foreclosure and is being sold as is.

Home owners assoc fees are $341 month and include: common electric, water & sewer, trash, elevator service, pool service, landscape and lawn maintenance, insurance, cable TV, common area maintenance and repair.
 
THIS PROPERTY IS A FORECLOSURE and is being sold as is. Credit pre approval letter or proof of funds must be submitted with all offers. 
 
 
You can sign up now for VIP ACCESS to all the latest Myrtle Beach Foreclosure listings. 
http://www.buybankownedmyrtlebeach.com/ for Myrtle Beach Foreclosure listing alerts 
 

Myrtle Beach Condo Expert helps you find Myrtle Beach, SC foreclosures and make well informed real estate decisions in the process. Refine your search for Myrtle Beach foreclosed homes for sale by price, number of bedrooms, bathrooms, area, section of the beach, subdivision, complex, resort, property type, amenities and more. These foreclosed homes for sale include pre-foreclosures, bank owned properties, notice of default listings, HUD and VA government foreclosures, bank owned foreclosures, REO or Real Estate Owned, public foreclosure auctions and other foreclosures in Myrtle Beach, SC. 843-839-9870

 

 

First-Time Buyers to Act Quickly - $8000 Tax Credit to Expire

by The Jerry Pinkas Team

First Time Buyers Tax Credit  - Time to Act Quickly

If you have been considering buying a home for the first time, NOW IS THE TIME to act quickly.  There is very limited time to qualify for the $8,000 first-time home buyer tax credit.  As of August 1, there were only 121 days for first-time purchasers to take advantage of the credit. In order to qualify, the transaction must close before 11:59 p.m. on November 30, 2009

The tax credit is available to buyers who have not owned a principal residence during the three-year period prior to the purchase. The credit does not have to be repaid, and it must be claimed on your federal income tax return.

Prospective buyers, especially first-time buyers, should factor in the amount of time it takes to purchase of real estate.  November might seem like it is enough time to buy a property, but time it takes time to put it all together and get the transaction to close before November 30.   

First you’ll need to shop and find the right property that meets all of your criteria, find the right Realtor, shopping for the right mortgage, present an offer, negotiate and get an offer accepted on your property, work through all the contracts and logistics that are required in a real estate transaction, obtain a home inspection, shop for home owners insurance, then work hard to close the property.  

You should start your work now. You’ll have to factor in extra time to allow for unforeseen circumstances and any additional steps that may be necessary. This way you can allow just enough time to reach closing before the expiration of the credit.

The clock is also ticking.   If you want to maximize your purchasing power in this market, you had better to get to work soon. With affordable prices and low interest rates, plus the $8,000 credit, this unprecedented opportunity is not guaranteed to last much longer.

Each transaction is different.  No two are the same.  One could lead to a longer buying process than another. Since a lot of other parties are involved in a real estate transaction, delays can be expected no matter how fast you act. That wait time can be the difference between $8,000 and not getting $8000.

Buyers are finding that the credit is allowing them to take advantage of opportunities they might not otherwise consider. The $8,000 can be applied toward renovations or repairs in a fixer-upper property,  that buyers might not otherwise have been able to afford. The extra funds can also be invested for future use, or applied to new furniture and appliance purchases.

We have many first time home buyers that are taking advantage of our VIP access to all the latest Myrtle Beach Foreclosure information. You can sign up for automatic listing alerts to get a jump start on other buyers.  You’ll have  the inside track on the Myrtle Beach Real Estate market. It is a good tool to find the right property before others beat you to it.  You can also sign up for a credit pre-approval. You'll have the edge over buyers who aren't approved when multiple offers arrive on a property. This can make the difference between having your offer accepted or losing the property to a qualified buyer.

 

Jerry  Pinkas Home Selling Team - is your local expert in all your Real Estate needs in the Myrtle Beach Area.  Our Team is dedicated to inform our clients on how to be a pro in the local real estate market and avoid common pitfalls that are costly. You will have access to the most comprehensive MLS Listing Service in the area with Free access and with lots of tools for both Buyers and Sellers. Award Winning – Top Ranked – Highly Recommended – Call The Pros - Google or call (843) 839-9870; Put our team to work for you today.

 

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