Pending Home Sales Up Fourth Straight Month – Myrtle Beach Market Trends

July 1, 2009 by myrtlebeachcondo

The National Association of Realtors said its Pending Home Sales Index, based on contracts signed in May, was up 0.1 percent to 90.7 from a upwardly revised index of 90.6 in April. 

The Jerry Pinkas Real Estate Selling Team reports that Myrtle Beach Real Estate has recently been selling at a brisk pace. Some of the best deals on Foreclosures and Motivated Sellers have been going quick.  We are seeing multiple offers coming in. Many buyers are now fighting to the best deals.You can get a jump on the competition with a Bank Owned Property Alert Service. You can sign up to receive new alerts as these properties hit the market.   Its a good way to get a jump on the bidding completion for the very best properties.  ”Some great deals are currently being made” says Jerry Pinkas, “when you factor in the potential rental income and the current pricing, many buyers are finding the purchase of  vacation condo or second home now more affordable for the average person.”  

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) 222-1926; Put our team to work for you today.

Looking for a Vacation Home?

June 21, 2009 by myrtlebeachcondo

Looking for a Vacation Home?

Top Searched Vacation Homes on AOL Search:

 
1. Orlando vacation homes
2. Myrtle Beach vacation homes
3. Las Vegas vacation homes
4. Florida Keys vacation homes
5. Kailua vacation homes
6. Kure Beach vacation homes
7. Kissimmee vacation homes
8. Kona vacation homes
9. Boca Raton vacation homes
10. Cape Coral vacation homes

Ready for some much needed rest and relaxation? Family vacations are one of the greatest American past times. When the kids are out of school, and if you have time off, where are you going to go?  If you had your own vacation home you would know where to go!  Don’t bother with a useless timeshare, which can have annoying and frustrating restrictions when compared to the ease of unlocking the front door to your own property. Staying a hotel can’t even compare to the comfort of your own vacation home.

What do you think AOL Search users looked for when they were choosing their own vacation home? The answer was: location, location, location. Myrtle Beach ranked number 2 in the nation. Families who love excitement and adventure were after theme park vacations. Myrtle Beach now has 2 amusement parks, Family Kingdom, and the New Free Style Music Park.

If you are looking for a relaxing and scenic beach spot and you want to enjoy some shopping, concerts, and elaborate shows, you may want to check out Myrtle Beach South Carolina.  Home to over 1700 restaurants, over 100 golf courses, jet skiing, banana boat rides, parasailing, helicopter rides, upscale condos and oceanfront condos, you will love Myrtle Beach. Tons to do, but you just can’t do it all in a week. Or if you decide to just relax and enjoy the peace and quiet…….That is why many people decide to buy a second home in Myrtle Beach.

Whether you want to relax by the beach or fly upside down on a roller coaster, a vacation home can be your ultimate escape.

 

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) 222-1926; Put our team to work for you today.

Why Should You Buy Myrtle Beach Real Estate – Myrtle Beach Condo Deals

June 15, 2009 by myrtlebeachcondo

Why Should You Buy Myrtle Beach Real Estate – Myrtle Beach Condo Deals

Myrtle Beach Value  – How you can profit

Myrtle Beach Real Estate and Ownership. You can make money by embracing it. How? By buying high-quality assets when others are fleeing them – and while prices are falling as a result. That’s the hallmark of value investing.

Value Investing. Here are the short answers: communities in and around the Myrtle Beach area were prices went up and have fallen but in a surprising twist, not as violently as the broader market.  Does that make a better long term investment?

Consider the price run ups and price drops in Nevada, Phoenix, or Orlando (too much volatility and pain) In Myrtle Beach the prices were less dramatic than some of those other areas. Does this point to a more consistent long term investment?

Is it a good time to buy? Yes. Will you find a screaming bargain? You might, if you’re patient and alert.

Buying high-quality assets when others want to get out is a hallmark of long term value investing. High quality means just that.  Myrtle Beach Oceanfront Condos For Sale, Oceanfront properties, golf course properties, the best views, quality buildings, quality resorts, great management.  The best, remains the best!

Are there screaming bargains to be had?  We are seeing some fantastic deals being made right now. This could be the time to buy that second home, retirement home, vacation rental, golf condo or oceanfront condo in Myrtle Beach. Life at the beach can be fun and lively. Where vacationers and residents, when they’re not golfing, can swim, go shopping, dine in some fantastic restaurants, enjoy live theater and festivals, explore nature, and just relax and enjoy the scenery.

Basic rules of any investment! Buy when they are selling, and sell when they are buying!

In case you didn’t notice….It’s currently a buyer market!

It’s all about the negotiating a great deal. It’s NOT about the list price. All you need is finding that motivated seller. The deal of the century happens about once a week!

The lure of the beach & ocean is not going away! What is on the cover of ever retirement brochure?…..The Beach…. and the baby boomers just starting to retire.

We currently have a window of opportunity. I don’t know how long it is going to last. Most people realize a good value when they see it. Recently some of the low lying fruit on the tree (low priced condos) have been picked the last 3 weeks. We have had a lot more condo sales activity in the last 3 weeks.

If you are interested in making an investment, We’ll be glad to assist you with your plans. We will be glad to give you a ton of information.
Ask someone who bought back in the 1960’s 1970’s or 1980’s.

I just haven’t heard any one that was a long term investor, say they wish they hadn’t bought that oceanfront condo. I usually hear I should have bought one years ago, or wish I bought more units.

Want an investment with dividends like fun, rest and relaxation? There is no better time than now!

 

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) 222-1926; Put our team to work for you today.

Myrtle Beach Real Estate – Is it a good time to buy? – Lessons from the 1980’s

January 28, 2009 by myrtlebeachcondo

Making money on properties with foreclosures, short sales, and with motivated sellers, is currently a growth industry.

What are some of the best  money moves to make in 2009 ?  With low housing prices,  thats opportunity!
 
Lesson of the ’80s

Investors stand to profit from buying distressed debt, condos, homes and commercial real estate.

Many are eager to take advantage of what happened in the wake of the real estate bust and savings & loan crisis of the 1980s –  instant riches from condos, apartment and office buildings bought at fire-sale prices. 

Today there are many properties that are on sale. Its like a half price special.  They are 1/2 of what they where during the height of the housing bubble. 

 Many of these properties can be negotiated even lower than the current asking prices.

Why not take a clue from Billionaire John Grayken of Lone Star Funds, who made a fortune in real estate, during the S&L crisis in the 1980s?  He is investing again, with the same strategies he used before.  In July 2008, he bought up $6.2 billion in distressed properties.  Now he’s just waiting for the market to recover. 

Another Fort Worth billionaire Robert Bass, snagged many distressed properties after the savings and loan bust of the 1980s.

Sound familiar?  Buy when they are selling and sell when they are buying.
 
The trick is where do you put your dollars? Where can you put your money now to give you the biggest return on your investment?

 The lure of the beach and ocean isn’t going away! Many people are currently looking for beachfront investments. Many smart investors are currently buying Myrtle Beach Condos that are on the beach, or near the ocean.
 
The worst financial crisis since the Great Depression?  For some buyers and investors, it’s like ringing the dinner bell.
 
You don’t have to be a billionaire to play. If you have good credit, a job, some cash and the fortitude to stick it out as the economy recovers, now is a great time to buy Myrtle Beach real estate.  Buy low, and sell high. 

This is one of the best ways money can be made in real estate.   But unlike the real estate flipping that helped fuel the housing bubble a few years ago, these new opportunities will require patience and staying power. Investors will need a good eye to spot investments with underlying value, as well as enough time and money to wait out the downturn. Many real estate investors expanding that return on investment by using their oceanfront properties as a Myrtle Beach condo rental.

One thing all players agree on is the need for knowledge.  If you don’t know what you are doing, or you don’t know what the best values are, you will want to work with a professional Myrtle Beach Realtor. You want a pro that has the knowledge, the experience, is an expert negotiator, and will go to work for you. Armed with the knowledge of a pro, you can purchase some fantastic long term investments.

When we look back on this time in history, this will be looked at as a time of great opportunity.  The real question is, are you going to sit on the sidelines? Are you going to listen to the negative media and watch opportunity pass you buy?  Or are you going to act on this great opportunity we have?

Is it a good time to Buy in Myrtle Beach

January 4, 2009 by myrtlebeachcondo

Now is a great time to buy –

Missed opportunities?

People buy in the toughest of markets.  In 1981 interest rates on mortgages reached 18.5%, and that’s if you could even get a mortgage.  Properties were sold in Myrtle Beach.  Even in a market with high interest rates many made good long term investments.  Ask someone who bought in the 80’s, I’ll bet they would say that they are glad they bought when they did.  Most would say they have had increased property value, and most of the mortgages have been paid off by now.  Most of those long term investments are free and clear. Many are producing strong rental streams for their owner.   I would bet many investors that bought in the 80’ would say they are glad they bought when they did.  . Long term investments pay off.

In a buyers’ market like we have in the Myrtle Beach area today, the opportunity to buy based on value is fantastic.  A few years ago in the seller’s market, prices were escalating and it was perhaps one of the most difficult times to buy based on value.  A few years ago people were buying like there was no tomorrow.  A few years ago buyers were afraid of losing out.  The shift has occurred.  Now is the time to fear losing out on some of the best deals. 

I do believe that most buyers are letting others do too much of their thinking for them.  These other people might include family, friends, or the media. A lot of good information can come from these sources. On the other hand, if these are the only real estate sources people are using, then they are not getting the entire story.  What’s missing? Expert advice. Professional advice.  The media rarely tells the whole story. Most people only get half the story.

This economic outlook has happened all before, and it will happen again. What goes up must come down.  More important what goes down has always come back up. Home values will most certainly continue their long standing trend of appreciation over time. And equity build up through mortgage debt pay down still remains a proven path to financial wealth.

Any successful real estate investor will tell you that real wealth comes from the combination of any appreciation plus debt pay down.  And for home buyers this can be further enhanced by any available tax advantages for home ownership.

Buyers who choose to wait until prices come down more are also gambling that interest rates won’t go up.  Low interest rates like today have an impact on the real monthly costs of ownership.   Even a 10percent drop in home prices is immediately wiped out by a mere 1 percentage point increase in interest rates on a 30 year mortgage loan.

Buyers cannot perfectly time the market- on one can. The smartest people know this.  Anyone who buys at the top of the market is just as unlucky and anyone who buys at the bottom of the market is lucky. People who buy in a buyers’ market are the smart ones.  They aren’t looking for a killing.  It’s about planning.  They are looking for a sound decision with a predictable result.  Smart ones ask “Has the market dropped enough to make a sensible purchase? Many times the answer is yes.

Do you think prices have dropped?

Do you think they will ever go back up?

Missed opportunity?    

Find a Best Buy – Get while the getting’s good.

Want to learn more? 

Call to set up some personal one on one consultation time.  

It’s Free, and could be one of the best moves you make in this decade.

The Jerry Pinkas Real Estate Team 843-222-1926

Jerry Pinkas Team – Still Very Successful Selling Real Estate

May 2, 2008 by myrtlebeachcondo

We are still very successful selling Myrtle Beach Real Estate, and that business has never been better!  If the economy is good or bad, people are still buying and selling real estate on the Grand Strand every day!

We are currently taking our business to the next level.  When most other Real Estate companies are downsizing, We are expanding our real estate team, to give you the absolute best on the beach!  
 
I’ve always been a people person, so probably the main reason my sales have increased is that I’m now fully utilizing a team approach. With the introduction of Barb Dwulet as buyers agent, and Rob Greco administrative assistant, I have surrounded myself by a team of experts to help your real estate experience move as smoothly as possible.
 
One sure sign of agents who make integrity and hard work central to their service is that they’re successful even when the market is slow.  The Jerry Pinkas team is currently ranked number 15 out of over 3800 agents on the Grand Strand.
See what our clients say about us:
 
Your expertise and negotiation skills are fantastic! We would recommend you to anyone who wants the best agent representing their interests. Craig & Janice Smith
 
We are thankful to work with some one that brings new meaning and level to the terms Real Estate Professional and Service.  We recommend Jerry without the slightest hesitation. Bob & Pauline Bellavance
 
After having our condo listed for over a year with another company, you had our condo sold in less than 30 days!  We appreciate your honesty and ability.  Forrest & Michele Browning
 
You went the extra mile working for us.  You are truly knowledgeable and the ultimate professional in your field. James & Beverly Folds
 
It takes hard work, commitment, and honest expert knowledge. We are changing Buyer’s & Seller’s Expectataions, One Client at a time.
 
Jerry is always eager to talk about Myrtle Beach and the resort area. Feel free to call him anytime and use his real estate experience and expertise to help guide you in your next resort real estate transaction. 

 

We are glad to assist you in any way.
 
Let our team of full time professionals help you with your real estate needs.

Southern states, Carolinas see most new residents

April 8, 2008 by myrtlebeachcondo

Thanks largely to golf and a thriving tourism industry, the Carolinas and other Southern states emerged as top migration destinations in 2007, according to an annual study conducted by United Van Lines, the nation’s largest mover of household goods.

 

Nearly two-thirds of all moves, 61.6%, were to North Carolina, making the Tar Heel State the year’s top migration destination. South Carolina was another top residential moving destination for 2007, nabbing 57.8% of all household movers.

 

Other states receiving the most inbound residents were:

  • Nevada, 59.4%.
  • Washington, D.C., 58.5%.
  • Oregon, 58.4%.
  • Alabama, 57.9%.

 

Alabama had its fifth year as a top inbound location, while South Carolina continued a 14-year tradition of high numbers of inbound residents. Other Southern states that proved to be high inbound destinations were West Virginia with 55.7% and Tennessee with 55.1%.

 

United Van Lines classifies a high inbound state as one that receives 55% or more household moves.

 

Pat Mason, director of the Center for Carolina Living, a marketing and research firm that provides information on the Carolinas to tourists or would-be residents, predicted that South Carolina will have 150,000 new residents this year and North Carolina will have twice that many.

 

Charleston emerged as the No. 1 most-preferred destination for tourists, according to Mason’s Carolina Lifestyle Survey. Of 109 South Carolina cities that snapped up new residents, Myrtle Beach was the No. 1 city families moved to after taking the survey; Columbia ranked at No. 4; Summerville ranked at No. 5; Charleston ranked at No. 8 and Mount Pleasant came in at No. 9.

 

“There’s no way the census can keep up with us. We’re a growth state,” Mason said.

 

Mason’s firm surveys people who are interested in moving to the state and also tracks building permits and housing starts. The firm uses the National Change of Address Audit to follow up on its Carolina Lifestyle surveys and determine how many of those surveyed actually moved to the state.

 

According to the latest U.S. Census Bureau statistics, which compare the number of tax returns filed each year, South Carolina gained 59,332 residents between 2006 and 2007, a figure Mason said is an underestimate.

 

“I think they would admit that number is considered conservative and probably very low,” Mason said. “They’ve got lag factors…and census counts in South Carolina are low. We don’t get the same number of people who complete the census forms as other states. Somewhere in between their number and my number is a number that is real.”

 

“My number might be high or low. But the real thing we need to know as planners and as people who want to improve the quality of life is that the state is continuing to grow and the numbers will continue to go up for the next 25 years.”

 

Mason said the popularity of the Carolinas as an in-migration state is directly connected to the tourism industry.

 

“It starts with a visit,” Mason said. “We wouldn’t have in-migration if we didn’t have millions of people coming down here to play golf. The tourism industry is robust in South Carolina and is only going to get better. The wisdom of the Legislature this year allocated $31 million for tourism.”

 

North Carolina tops the in-migration list, Mason said, because it is larger than South Carolina and has strong business centers such as Charlotte and the Research Triangle Park in the Raleigh area.

 

At No. 2, Nevada has become an in-migration destination because of the Las Vegas area.

 

“It’s a hot destination and the land values and home values are relatively low compared to California,” Mason said.

 

Washington, D.C., at No.3, has government jobs and a number of colleges and universities to lure people, while the fourth most popular in-migration destination, Oregon, is also a California exodus state.

 

“People escaping California have had it up to their eyeballs with sprawl and are going to Oregon so they can see the stars at night,” Mason said.

 

At No. 5, Alabama has learned some lessons from the Carolinas and, in recent years, has begun attracting golfers and automobile manufacturers, including Mercedes and Hyundai.

 

As the South and other desirable areas fill up with new residents, other states have the distinction of losing a large number of residents each year.

 

States that had 55% or more moves out are classified as high outbound states by the migration study. This year, the following states experienced the most moves out:

  • Michigan, 67.8%.
  • North Dakota, 67.2%.
  • New Jersey, 61.0%.
  • New York, 59.4%.
  • Illinois, 57.6%.

Whether you are looking to BUY, SELL a home or condo, let me put my professional knowledge and personal experience to work for you. If you would like more information about buying or selling Real Estate in Myrtle Beach, Call Jerry Pinkas at 843-222-1926

Short Sale Questions Answered

April 8, 2008 by myrtlebeachcondo

Myrtle Beach Oceanfront Condos

Here are the most common questions some one looking to Sell a Condo Short Sale may ask. Taken from Broker Agent News:Number 10

I can’t make my house payments, but I do have an ability to pay back all or part of the negative equity. Also, I want to preserve my credit score…is a short sale right for me?

Probably, not. In cases where the seller can pay back all or part of the negative equity (usually to the 2nd lien holder), it makes sense for them to work out a repayment plan. The lender will then release the lien and allow the home to close.

Number 9

If I pay mortgage insurance and default on my loan, why wouldn’t that cover the deficiency amount?

The mortgage insurance is not there for your protection, just the mortgage lender’s.

Number 8

Do I have to have my home “Approved” by the lender prior to offering it for sale as a short sale?

No. Technically speaking there is no such thing as being “Short Sale Approved.” The actual approval only happens with an accepted offer.

Number 7

I just missed a payment and I know I will miss more…how long does the foreclosure process take and is there time to do a short sale?

The foreclosure process takes differing times depending on your state.  In the Midwest a foreclosure can take over a year. In California its taking 6+ months.  Generally speaking a well priced short sale being processed by an educated short sale listing agent will sell and close in less than 120 days.

Number 6

Will I still have to pay property taxes if I do a short sale?

Property taxes will always have to be paid as part of any accepted short sale. Whether it’s you or the lender, it depends on their policies and the specific agreement you reach while negotiating the short sale.

Number 5

I owe more than my home is worth and I can’t make the payment. Do I have to somehow qualify for a short sale?

The simple answer is NO. If someone can’t make their payment and they are otherwise insolvent, they qualify for a short sale. Note: insolvent simply means their total debts are great than their assets.

Number 4

Do I have to pay income taxes…I have heard that I will get a 1099. Will the loss the bank takes be treated as a taxable gain to me…the seller…is this true?

It WAS true, now it’s not. Consult your Tax Attorney or Qualified CPA.  Very recently the tax law was modified and now most people who do a short sale will have no taxes due.

Number 3

How do you, my listing agent get paid…who pays your commission?

The bank will pay the commission along with all the other usual closing costs.

Number 2

Do I have to miss a payment to do a Short Sale?

No. Late last year most major lenders started accepting short sale offers from sellers who have never missed a payment.

Number 1

I want to do a short sale and have a 2nd mortgage, does this make me ineligible?

No. Both of your lenders will need to be satisfied in some way to complete the short sale. If your first lender will be paid off by the sale, then you just negotiate the terms with the second lender. Most short sales do involve 1st and 2nd lien holders.

Whether you are looking to BUY, SELL a home or condo, let me put my professional knowledge and personal experience to work for you. If you would like more information about buying or selling Real Estate in Myrtle Beach, Call Jerry Pinkas at 843-222-1926 Myrtle Beach Condo For Sale, Myrtle Beach Condo Pro.

 

 

 

 

 

Myrtle Beach Appraisers See Improving Market Conditions

March 24, 2008 by myrtlebeachcondo

MYRTLE BEACH, SC – Appraisers see improving market conditions in Myrtle Beach Condo Sales.  Recent appraisal orders (in the last month) reflect fewer days on market and narrowing gap between list and sales prices: 

-Castlewood single family under contract, 33 days on market at 94% of list price ($150K-$200K range)

-Ocean Creek Tower North condo under contract, 57 days on market at 98% of list price ($400K-$450K range)

-A Place at the Beach condo, Shore Drive, under contract, 26 days on market at 99.9% of list price ($150K-$200K range)

-Briarcliffe Acres vacant residential lot under contract, 34 days on market at 94% of list price ($350K – $400K range)

-Wisteria Woods single family under contract, 36 days on market at 98% of list price ($100K to $150K range)

-The Island condo under contract, 34 days on market at 94% of list price ($300Kto $350K range)

If the property is priced according to current market conditions, properties will sell. Some great deals are currently being made and it could be the best time to buy a beach property.

Myrtle Beach Real Estate Trends

March 22, 2008 by myrtlebeachcondo
Where will the Myrtle Beach Real Estate Market be this year?

In 2007 we have witnessed lower pricing as the market continued to correct itself from the over the crazy pricing and buying in 2005. The correction started early in 2006 but really didn’t get rolling until 2007.

I represent a lot of Sellers in this market. Currently many sellers choose to reduce their prices until their properties are sold. Other sellers choose to take their properties off of the market. By selling a Myrtle Beach condo or taking a unit off the market, this reduces the inventory for sale, and  causes prices and the market to stabilize. Some people selling a Myrtle Beach house, just decide to rent it out.

Buyers who choose to wait much longer may be saying, in years to come, “I should have purchased this property when I had the chance”!

I am already witnessing some of the best value properties being bought up.  It is true some motivated sellers truly want out, and of course properties that are priced right have been selling quick.  I wouldn’t say prices are increasing, but I would say they seem to be stablizing.

Here is what is currently happening in the Myrtle Beach Real Estate Market.

Residential homes: asking prices range from $124,900 to $4.8 million. Average sold price is $307,700 and the median sold price is $250,000. Sellers are getting about 95% of their asking price and the average days on the market are 171 days.

Oceanfront  and Ocean View Condos 
Asking prices range from $71,000 to $2.9 million. Average sold price is $296,600 and the median sold price is $190,000. Sellers are getting about 94% of their asking price and the average days on the market are 275 days.

Condos West of 17 Business: Asking prices range from $45,000 to $2.9 million. Average sold price is $225,400 and the median sold price is $195,000. Sellers are getting about 97% of their asking price and the average days on the market are 321 days.

View my website to start your property search today and feel free to call or email me anytime with further questions.