Cherry Grove, SC – There are places where investors can buy property and cash flow immediately. The Grand Strand area on the Southern coasts of South Carolina is one of these places. According to the National Association of Realtors, investors bought 20% of all homes sold in April. Most of these purchases are cash.
Conventionally, investors would subsidize payments and wait for the big potential payoff through appreciation on a property. These days, investors are throwing 25% to 30% down and financing the rest and cash flow pretty easily. Investors look at rental properties on a monthly income generating basis. They can see instant profit margins, even in today’s volatile housing market.
Investors buying rental properties are a general sign in the market place that a bottom is forming. There’s a turning point where the cost of home ownership is cheaper than renting. This environment creates a push from investors in turn, buying investment properties.
Are you Investor material? Before investing be sure you have thought through some of the following:
- Do you have what it takes to be a landlord? Your responsible for upkeep,collecting rents and even evicting tenants if need be.
- Get a sense of the market place. Vacancy rates,Rental rates,financing costs including taxes and insurance to name a few. Get help from a Real Estate Agent to help you analyze the market.
- Best investments out there might not be what you would personally live in. Foreclosed properties are an example of some bargained opportunities. For a list of Foreclosed properties in the Grand Strand area Visit Here!
- Think like a tenant
- Have a five year plan
Most people invest close to home. Do Not limit yourself. With experts literally at your fingertips, seek opportunities where they present themselves. Many baby-boomers are finding their ways to our coasts here on the Grand Strand. From the Oceanfront Condos, Beach Cottages or even Channel Homes in Cherry Grove, opportunity is everywhere. There are many types of properties out there to invest in, be sure to not to limit your opportunities because you might not understand certain aspects. Click HERE to get in touch with an investment specialist in Grand Strand Property today!
North Myrtle Beach, SC – Planning on buying property in the next couple of months? If that answer is a yes then the next couple of months will be your best opportunity to buy. To view current properties located on the Grand Strand CLICK HERE!
- Lowest Housing Prices in Years! It would be nice to know when we’ve absolutely hit a market bottom but nobody has a crystal ball. We have to look at the facts at hand and make the best decisions for today. We know that pricing is at their lows and indications are pressing for prices to uptick soon. So buying now or in the very near future would be a great move. Foreclosures and Short-sales have created an abundance of buying opportunities for the buyer. Like a list of foreclosed properties in the Myrtle Beach area? CLICK HERE
- Interest Rates At Record Lows! In May 2011, 30 yr fixed rates fell to 4.63%. With fixed rates like these, buyers need to take advantage of this current buyers housing market.
- Interest Rates Expected To Climb. As our economy continues to gain momentum, interest rates will increase, making that mortgage more expensive and possibly pricing you out of some great opportunities. 1/2 % may not seem like a lot but depending on your loan amount, this change in percent can mean a hundred more on that mortgage payment. For more info on mortgage rates visit BankRate.com
- ARMS(adjustable rate mortgages) at Record Lows For those buyers whom are certain they can meet their payment requirements, adjustable rate mortgages may be the best route. There are possible risks associated with ARM’S and you should educate yourself with how these mortgages work. You can do this at the Federal Reserves website HERE
- Low Down Payment Mortgages Available FHA (Federal Housing Administration) Low down payment financing thats insured through FHA loans is yet another inducement for buyers to purchase today. Down payment requirements through this program change daily and may increase when this market heats up. This is a great options for those of you working with less cash.
- Easier to Qualify & Borrow Lending standards have eased recently. Buyers should become pre-approved through their desired lending institution. What this means is that the lender guarantees lending contingent on an appraisal.More good news for the buyer seeking pre-approval is that lenders are willing to let buyers take on more debt than previous formulas would allow. For more information on Cost Effective Mortgages please visit HERE
- Lenders Are Offering No Fee Mortgages Lending institutions and many banks are waiving origination and point fees. This can amount in huge savings on your loan!
- Home Builder Incentives With foreclosures beating down prices of the existing home market, builders are having to step up their efforts to compete. Incentives can include things such as cash for furniture,appliances and closing costs.
Bottom Line – No question the buyers have the upper hand today but that’s today. We don’t know what tomorrow will bring so if your in the market to buy, put your best foot forward now! With the continual growth on the Grand Strand, that affordable coastal lifestyle is only a click away. Visit HERE to view properties all over the Grand Strand Now!
North Myrtle Beach,SC – Below you will find the Market Report for Avista Ocean Resort, located Oceanfront in the Ocean Drive area of North Myrtle Beach. Avista offers some of the best amenities on the beach.
- Indoor / Outdoor Water Parks
- Exclusive Indoor Corridors
- Lounge / Bar
- Fitness Center
- Restaurant – Conference Facilities and much more!
To view current listing located at Avista Resort and other Oceanfront properties located on the Grand Strand CLICK HERE!
For May 2011
Active Listings (26)
Sold (2) Through 05/01/2011 – 05/31/2011
- Unit #826 1Bd / 1Ba closed on 05/12/2011 for $125,000
- Unit#1509 3Bd / 3Ba closed on 05/19/2011 for $279,000
|Days on Market
Would you like to see a market update or report for a particular property located in the Myrtle Beach / Grand Strand Area? Leave your comments and I will be more than willing to accommodate your requests. Getting that coastal lifestyle you deserve is now more affordable than ever. Take advantage of this buyers market and call the beach home today! View Listings HERE
Grand Strand Properties Climb
Myrtle Beach, SC – April’s data from the Carolina Association of Realtors showed an increase in home sales along the Grand Strand. Homes showed a 2.6% up-tick from 2010. Condo sales improved as well showing a 3.1% up-tick from April 2010 and 2.6% overall, year to date. Great news is that the market has been cleaned up pretty well. 17% of the market today contains distressed properties. Also keep in mind, last year people were taking advatage of the tax credits so even though these numbers aren’t jumping off the screen per say, their not BAD numbers.
Of course good news comes along with some bad news depending on what side of the numbers your on. Median sales price for condos here on the Grand Strand are at $103,000. The median price for Single Family Homes fell slightly to $165,000. These declines have been the cause of distressed sales. When looking at the market without those implications, homes have remained quite consistent around $189,000.
Given the sales facts, now is the time to buy Grand Strand Properties. The beach lifestyle has never been so affordable especially if your looking for some Oceanfront condos here in the Myrtle Beach – Cherry Grove areas. Like I mentioned earlier, median sales for condos are at $103,000, an historic low. Buyers need to take advatage of these conditions. Its only a matter of time before these sales figures continue their up-ticks. View some Oceanfront condos HERE and see whats right for the picking!
Celebrating 30 Years!!
One of the greatest events that take place here on the Grand Strand is finally here! Starting Saturday, May 14th thru Sunday the 15th. The Blue Crab Festival is celebrating its 30 years so don’t miss out on this awesome street festival in Little River, South Carolina. What you can expect from this years festival:
- Friday Night Street Party (6 p.m. – 10 p.m.) New for 2011
- Fireworks (9 p.m.)
- Live music provided by Tommy Black Band
- Arts & Crafts
- And Much, Much More!!
General Admission $4.00 (Children under 6 are FREE)
Buy Tickets Online Here
Saturday – 9 a.m. to 8 p.m. Sunday – 9 a.m. to 6 p.m.
For a list of locations offering tickets at a discount, please visit HERE
Living the coastal lifestyle has never been so affordable. This current buyers market is presenting opportunities everywhere on the Grand Strand. If your interested in taking that step to make the beach your home or even a second home, Now is the time! Grand Strand Real Estate at your fingertips are just a click away! Visit us HERE today and start living that Coastal Lifestyle you deserve.
Grand Strands Newest Hotel
Myrtle Beach, South Carolina –
The Grand Strand will have its newest hotel, The Aqua Beach Inn, open to the public Thursday May 12th. This boutique styled hotel is conveniently located across from Pier 14 Fishing Pier, Boardwalk,shopping,dining and one of Myrtle Beach’s new attractions, The SkyWheel. This Grand Strand Properties addition is perfect for those who would like to be right in the middle of it all and be able to walk to almost everything!
The Aqua Beach Inn boasts 60 rooms on its 11 story structure. These rooms are beach contemporary styled rooms offering amazing unobstructed views with balconies. Few of the features are a full-sized kitchen,granite counter-tops,Armstrong cabinets,porcelain tiles and much more. Standard rooms will offer you comfort with its two queen beds and also offer king sized beds as well. Another point to add : The Aqua Beach Inn is a NON-SMOKING Hotel.
- Free Internet
- 24 hour coffee service (My favorite)
- Enclosed Pool, as well as a sundeck and grilling area
- Outdoor Pool and Jacuzzi
- Computer Station in Lobby
Visit The Hotel Here for more info. Aqua Beach Inn is at 1301 Withers Drive, Myrtle Beach.
Ribbon cutting ceremony and opening celebration will commence on Wednesday May 11th from 4:30 to 7:00p.m. Food will be provided and prizes will be given away as well!
Grand Strand Properties continue to grow! Interested in the Grand Strand Area? North Myrtle Beach Real Estate as well as Cherry Grove Real Estate are continuing to make their mark here on the Strand as well. If you’re looking for that investment or second home here at the beach, we can make your dream a reality! Visit Us HERE for more details and start living the Coastal Lifestyle!
As a home owner, maintaining your property in sound condition plays an important role to its value. One of the most important assets to our home is its roof. Here in the Myrtle Beach Real Estate market, think of all the elements a homes roof is exposed to. Here on the Grand Strand we experience a constant wind being close in proximity to that oceanfront we all love. This affects your roofs condition. Hail as well as rain all play a part in affecting the condition and well-being of your home’s roof. An annual checkup is all you need to save yourself from some unforeseen problems.
Start With The Basics
Look for missing shingles, cracked caulking. Check around your chimney for anything unusual damage. Skylights are common-place here at the beach be sure to check them for wear or cracking, caulk them if needed. Check for nails and rust spots on any flashing. These should be replaced right away. Keep those gutters cleaned out. We deal with a lot of Pine straw here in the North Myrtle Beach and surrounding areas so be sure to stay on top of that. These are a few easy precautionary steps you can take to ensure you catch things before they are ever an issue.
Signs Of A Roof Leak
Early signs of trouble can be dark areas on the ceiling, peeling of paint,damp areas around the fireplace and also look for stains on plumbing near the water heater and vents. If you suspect that you may have some problems, some companies give free evaluations so be sure to take advantage of that.
Trim Trees & Branches
Tree trimming can go a long ways when trying to prevent a bunch of leaves or that unwanted moss from growing on your roof. Try to keep branches 10 feet away from your roof to help with these issues. Remember, this can be quite dangerous. Call a pro if needed. Prevention isn’t worth too much if you severely hurt yourself in the making.
Replacing Your Roof
National Average for a new asphalt shingle roof is about 21k, according to Remodel Magazine’s Cost / Value Report. You can expect to recoup 60% at resale. Some Grand Strand Properties may have higher end materials which can run you up to 40k. So take care of that roof and look for the early signs and save yourself some money!
Looking for a place at the beach? Visit Here for all your Real Estate needs here on the Grand Strand!