Jerry Pinkas - Coastal Real Estate Agents

Myrtle Beach Condos & Homes For Sale

Jerry Pinkas


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Is now the time to buy a condo in Myrtle Beach?

by The Jerry Pinkas Team

With the recent sales burst with condo sales in Myrtle Beach, now could be the time to buy.  Some of our recent clients have recently been out bid on some of the best deals on the market.   There are some great deals being made right now.  The deal of the century happens about once a week!  With Myrtle Beach Short Sales, Myrtle Beach Bank Owned Properties, and Motivated sellers in the market place, some great deals are happening.  

When was the last time you have heard of multiple offers being made on Myrtle Beach Real Estate?  It’s happening now.  Buyers are gobbling up the best deals quickly.  If you are looking to buy don’t sit on the side lines and wait.  Someone else may be looking at that same property.  They may also think it is a good deal as well.  But haven’t you read the news about how bad the economy is right now?  But you’re thinking opportunity.  Do you think it could be a good time to buy a second home at the beach?  You may find out that you have some competition.  Some of the best deals could slip through your fingers.

Some recent clients of The Jerry Pinkas Condo Selling Team have found out in the past few weeks that they weren’t the only ones to think it is a great time to buy.  Many people are starting to realize that with interest rates low, and Myrtle Beach Property prices low, it makes for a great time to buy.  Not only are interest rates low, but many people having some cash sitting on the side since they have pulled out of the stock market.  Some investors are tired of “investments on paper” and want an investment that they can see, touch, use for personal enjoyment, and also take the tax right off for rental property. 

According to, U.S. home prices are their most affordable in at least 18 years, according to a report released Monday. What is considered affordable?  Nearly 73% of all homes sold in the United States during the first three months of 2009 were considered affordable. That was the highest percentage ever reported by the 18-year-old Housing Opportunity Index, an analysis of markets compiled quarterly by the National Association of Home Builders and Wells Fargo Bank. Sinking interest rates and plummeting home prices contributed to the current affordability. Those trends have buoyed industry confidence slightly. The NAHB/Wells Fargo Housing Market Index, an indicator of builder sentiment that was also released Monday, inched up two points in May to 16 after jumping five points in April.

You have been thinking about it, now could be the time to pick up one of those deals

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.


Should I Buy a Home Now?

by The Jerry Pinkas Team

I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall further than they have already. They are assuming that the best course of action is to wait for the bottom in the market and then buy. The problem with this approach is that you don't know where the bottom is until you see it in the rear view mirror, meaning until you've missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates go up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.

New $7,500 Tax Credit for First Time Buyers

by The Jerry Pinkas Team

The Housing and Economic Recovery Act of 2008 was just signed by President Bush with some amazing benefits for first time homebuyers. Call everyone you know who wants to buy their first home (or who hasn't owned one in three years), this is too good to miss - it's a $7,500 tax CREDIT (not deduction but a credit).

If you have not owned a home in three years, you qualify as a first time home buyer. If you buy a home after April 9, 2008 and before July 1, 2009, you qualify for this credit. Call your friends who just bought a home since April 9th and tell them they may take $7,500 off their tax bill if they qualify. It has to be your principal residence, so rentals do not count.

The tax credit is 10% of the cost of the home, up to a maximum of $7,500. This is not an additional deduction that lowers the amount of income to be taxed, it is a tax credit. In other words, you take $7,500 off your tax bill. But there is a catch; the credit you receive now is actually an interest-free loan that must be repaid.

The loan has no interest, and will be paid back over 15 years. You get the credit on your 2008 taxes, but you start paying it back on your 2010 taxes that are due in 2011, so you get at least two years without a payment. You pay back 6.67% of the credit each year, so for a $7,500 credit the payment is $502.50 per year. If you stay put for 15 years, you pay it off with no interest.

What happens if you sell the house? You pay the balance back at the closing. So, you get $7,500 now, and pay the rest of it back if you make money on the sale of your house. What happens if you do not make enough money when you sell your house? They forgive the rest of the debt.

Other restrictions stipulate that you have to buy your first house in three years before July 1, 2009, not have super high income, not use bond financing and buy anywhere in the US.

If you'd like to learn more about this program, please call me!

Displaying blog entries 511-513 of 513