If you have been doing groundwork with an eye toward investing in Myrtle Beach real estate, chances are you’ve also been watching some new national movement in housing sales. Last month’s Real Trends Housing Market Report showed U.S. sales of 5,880,000 units (a 5.1% increase over June 2013 numbers): “a substantial improvement over the five prior months.” Prices also continued to rise across most of the nation, though at a slightly slower rate. It’s the consistency of the appreciation that has continued to attract investors.

Those investors are drawn for differing reasons—since investing in real estate in Myrtle Beach can advance a variety of financial strategies. For investors who purchase residences in order to rehab and flip, any continuation of price appreciation and rising sales volume is encouraging news. For others who plan to hold long term to maximize rental income potential, still low mortgage rates continue to undergird a historically attractive environment.

Whether investing in Myrtle Beach real estate becomes the high point of a portfolio or a footnote depends on such a wide variety of factors that entire books continue to be written about them. Here are a few—with a couple of the ways they can be viewed:

Not only does location play a critical part in how the underlying property is valued, it also can be the deciding factor influencing rental income where rental income is the main goal. Some of the best performing rental property investments can be those located close to transportation and other amenities like restaurants, shopping and parks: key attractions to tenants (and buyer-investors) alike. On the other hand, a good deal in an iffy location can pay off—but only if it passes a critical analysis.

A storied strategy for winning a higher ROI on a Myrtle Beach real estate investment is to target properties situated in less-developed areas—areas promising a better-than-average pace of development in subsequent months or years. Such properties hold the likelihood of outstanding appreciation for the long term investor with ample time and patience.

Investments can be acquired only when sufficient capital is available–but successful investing is about more than just finding the least expensive property. Success means creating a budget in line with the expected return, leaving padding for unexpected expenses, and then scouring the available properties that can realistically fit that template. It’s a simple truth that hard-headed budgeting is a skill worth developing: often the best deals materialize from the best plans.

Whether you’re looking to buy and flip or buy and hold, investing in Myrtle Beach real estate can be both profitable and exciting. The assistance of an experienced and well-connected agent will prove invaluable when it comes to uncovering potential Myrtle Beach real estate investment opportunities.

If you’re looking for such an agent, I hope you will contact your Local Myrtle Beach Real Estate Experts at Plantation Realty Group! (843) 796-2111

When the American Institute of Architects reports on emerging trends, sooner or later they’ll be showing up in the Myrtle Beach listings. That’s been true of one trend the AIA started reporting in 2010: the move to ever-larger square footages.

But now a more interesting finding is developing. It’s one of the principal findings in the AIA’s 2014 Home Design Trends Survey—one that falls into the category of “emerging home characteristics”—one likely to become more commonplace in coming years. Combining several different attributes, it is best summarized by the single term “accessibility.”

“Residential architects report that the most significant trend in home layouts is improving accessibility,” writes Kermit Baker, the AIA’s Chief Economist. With a large segment of the population reaching retirement age and beyond, concern about the physical demands of daily living concerns more and more homeowners. Predictably, baby boomers will prefer to remain in their own homes as long as possible, creating both a huge market for remodeling design ideas that increase ease of use without losing attractiveness, and a resale market for the homes thus improved.

Almost two-thirds of responding architects report increasing popularity for interior accessibility designs: things like wider hallways and fewer steps. And more than half of the respondents said the same for accessible homes sporting on-grade entrances or ramps: features that make getting into and out of the house easier.

The Wall Street Journal just published a report on the same phenomenon. Its story, “Luxury Homes Accessible to All,” accentuated the desire by some homeowners for accessible designs “before they actually need them, with an eye to the future.” One Asheville, N.C. couple, although only entering their sixties, shaped their new home to accommodate their needs in case they someday need special assistance. With every doorway 4 feet wide, hardwood floors, a lighted interior staircase and curbless shower stalls, it’s estimated that the extra elements cost about 3% of total construction costs.

Does this mean that in Myrtle Beach, accessible homes will increasingly dot the listings? I bet we can count on it. But, as The Journal also points out, when it comes to selling psychology, words count. They quote one consumer housing specialist who says that in listings across the country, handicap and disabled/disability may be growing in prominence—but descriptors like wide hallways or open floor plan will “better attract buyers who are in the market for such homes.”

If you are in the market for one of Myrtle Beach’s accessible homes—or will be listing one that fits the bill—I hope you’ll give me a call. It’s a growing market that promises great new solutions to an age-old problem! Trust in your Myrtle Beach Real Estate Experts at Plantation Realty Group to help you find what you're looking for! (843) 796-2111

The Myrtle Beach listings aren’t dominated by any particular kind of seller—like local listings everywhere, all kinds of homeowners are represented. One attribute they generally have in common is the motivation to make their sale happen quickly. Sometimes that’s because they have settled on a new home purchase and want to avoid months of paying double duty on multiple residences. Sometimes a seller is relocating; sometimes there’s been a death or divorce. Regardless of the reason for entering their property in the Myrtle Beach listings, most sellers are strongly motivated to do what it takes to accomplish a sale.

Even in what has proven to be a generally strong market, a quick sale can be harder to accomplish during the summer months when buyers have other priorities on their minds—like vacations or the impending start of school. It might seem to be a less than optimum environment to enter the Myrtle Beach listings, but the fact is, sales DO happen during the vacation months: and they can happen quickly—especially when the seller avoids some common missteps:

Not Perfecting the Homes Appearance

Sometimes it’s actually fairly easy to make minor remodeling changes that will make a home appear nearly “like new”—in person and in the listings. Another commonly missed step is a one-time extremely detailed deep cleaning (professionally when necessary). A home purchase is an emotional investment as well as a rational one, with the ‘clean as a whistle’ dimension sure to add considerable appeal to prospective buyers.

Not Taking Advantage of the Home Staging Industry

Based on statistics, professional home stagers give homes a look that buyers prefer. Of course, the decision to stage depends on the home sellers’ budget—but some stagers work within all budgets, so a consultation may be worth considering in any case. Consider staging as interior design for the sales process. It’s also true that staged interiors also tend to display better in the listings.

Being Present During the Buyer Visit

No matter how sensible being there to answer any questions a potential buyer might have, remaining present during a showing is usually a misstep. Experts state that in practice, this tends to discourage substantive movement toward a sale.

Ignoring Offers

You may be on vacation and have trouble getting to a place where documents can be signed—but that’s not a reason why ignoring a low offer becomes a good idea. Yes, there are some offers that are just too low, but the way to respond is to counter the offer. By ignoring any legitimate offer, a Myrtle Beach Home Seller could be walking away from a buyer who has financing and may actually be willing to negotiate for a home (sometimes it’s the one they really have settled on). Sellers who benefit most from this kind of negotiation are likely to have done the work necessary to make their home sellable at top price.

If you are looking to add your home to the Myrtle Beach Listings this summer, contact your Myrtle Beach Real Estate Experts at Plantation Realty Group ASAP to discuss a marketing strategy that’s right for your property! (843) 796-2111

“You never get a second chance to make a first impression.”

It’s a saying that job applicants (at least the successful ones) take to heart. It’s why a lot of serious primping goes on before a blind date. It’s why movie directors spend as much time as it takes to light and prepare the first shot that will introduce their lead actress. And if you’re going to have a house for sale in Myrtle Beach this summer, it’s why it’s worth it to take pains to make its first impression as strong as possible.

Making any Myrtle Beach house for sale’s debut a success doesn’t have to break your back or your bank account. Here are some simple, affordable projects that can be done in a single weekend:

Update Exterior Lighting

For prospective buyers whose first look at your house for sale comes in an evening drive-by, exterior lighting plays a leading role. If your lighting setup is more than ten years old, you may be able to do a quick transformation by replacing outdated fixtures with stylish new ones. If twilight showings are likely, consider adding a lighted path from driveway to door.

Warm Up the Front Porch

There’s an emotional component that goes into making a house for sale—one that’s truly “inviting.” Often, the key factor is whether prospective buyers can easily picture themselves and their family enjoying an afternoon or evening in the place. Think about whether investing in a few pieces of attractive, comfortable-looking outdoor furniture you could place on the front porch (or other outdoor space) could help buyers picture themselves enjoying a leisurely after-dinner conversation…and whether a comfy indoor/outdoor rug and some outdoor decorative pillows might complete the picture.

Invest in Simple Landscaping

Even just a few flower pots or window planters will invariably work to cheer up an otherwise ‘just okay’ exterior. When a prospective Myrtle Beach buyer drives up to a house for sale, a few large pots along the driveway and/or porch—sometimes with the addition of a couple of inexpensive window boxes—can make a real difference. Fill them with easy-to-care-for annuals like marigolds, petunias, or impatiens. Don’t freely mix colors in any one box or pot: that can mute the cheerful effect that a solid mass of yellow, pink or red conveys.

Trim Up!

You don’t necessarily have to paint the whole exterior before you list your house for sale—but it is a good idea to spruce it up by painting (or replacing) the front door, shutters, and trim. It’s a quick, affordable way to give the entire house a facelift without spending tons on painters and paint!

Mothball the Mailbox

Potential buyers may be searching for the address, so a mailbox with old, peeling house numbers can sabotage an entire showing. A new mailbox with bright, shiny numbers will waylay that possibility. For brick mailboxes, just replace the old house numbers and flag.

If you are thinking of listing your house for sale in Myrtle Beach, August is prime time to start the ball rolling! Contact your Myrtle Beach Real Estate Professionals at Plantation Realty Group to help you sell your home quickly! (843) 796-2111

Negotiating tactics. It’s a topic that business authors adore. This is perennial best-seller territory…so much so, you could probably fill a moderate-sized home library with titles like The Art of the Deal and Getting to Yes.

When it comes to negotiating a home purchase in Myrtle Beach, fine-tuning your offer—finding the balance between writing a winning offer and writing the most advantageous offer—can present a real challenge. Add to that the national headlines that tell us that there are more bidders out there vying for the same properties, and it makes sense to listen to what the experts have to say about the most successful tactics. When you’re negotiating a home purchase in Myrtle Beach, some of the most repeated generalities are applicable:

Keep your cards close to your chest

Kenny Rogers sings about it, and every poker player agrees: when you’re negotiating, it’s almost always prudent to volunteer as little information as possible about yourself and your home search. If you aren’t considering any other properties, don’t let the sellers’ agent in on the fact. Never lie, of course; but find a polite way to be vague. The less you say about personal connections to the property, the better. Stick to the numbers and terms.

Keep Your Paperwork Smart

Likewise, if you are approved for, say, a $350,000 loan, but are writing an offer for $325,000, instruct your mortgage broker prepare a pre-approval letter with the amount of your offer—not your full buying power (that’s just asking for a higher counter offer!).

Negotiate for the win, not just to win

If you get caught up in negotiation, it can cause you to lose sight of the big picture, which is winding up owning the property you want. If a seller won’t budge on price, ask yourself if the property is actually worth the price they are asking. Canny buyers keep in mind that this isn’t about “winning” by getting sellers to come down to your bid, it’s about winning by getting the Myrtle Beach home purchase that makes sense for you. If the comps support the price (and you know you’ll be delighted with the house) do be open to weighing the merits of the deal…even if it’s not as rock-bottom as you had hoped.

A home purchase in Myrtle Beach is a complex, sometimes emotional process—but going in with the right mindset can make all the difference. Good luck hunting!

If you are looking to Buy or Sell this Summer, please contact your Myrtle Beach Real Estate Experts at Plantation Realty Group to help you find your perfect property! (843) 796-2111

The upheaval in global financial markets over the past few years may have been unnerving for almost everyone, but among the hardest-hit group was first time home buyers, in Myrtle Beach and across the country. Many had to deal with the stress caused by an uncertain economy, the fallout on business and job security, and, more directly, a pronounced increase in the difficulty of securing mortgages.

The good news for Myrtle Beach first time home buyers is how the national situation has stabilized. It’s confirmed by the increase in the number of people interested in buying a home for the first time—which has climbed out of the slump. The latest NAR (National Association of Realtors®) annual Profile—a yearly report describing home buyers and sellers—shows that new entrants into the residential market accounted for 39%, just 1% shy of the pre-crash mark.

If you’re selling an Myrtle Beach home this summer and have priced it attractively, it could pay to be mindful of this important segment of our market.

So just who are Myrtle Beach’s first time home buyers? That’s where the NAR report gives us some important clues. Three-quarters of first time buyers across the nation fall into the category of current tenants —those living in rented accommodations—with 18% still living with parents. As you’d expect, almost all (98%) of that segment hope to fund their purchase with a mortgage, with 81% preferring a fixed-rate loan. Some first time home buyers plan to use personal savings for the down payment, but many others plan to get help from family. (Myrtle Beach home sellers take note: one possible incentive to make your listing stand out might be to include an offer to cover closing costs.)

Three-quarters of respondents were aged from 22-42. The single most common reason given for buying a home is to start a family (70%), and of those buying a home for the first time, 51% are married couples. With proportions like those, any home in a family-friendly area should benefit by pointing out attractions like local parks, playgrounds and superior schools.

Maybe the most interesting statistic in the report was that 28% of the first time home buyers were already making plans to move again within five years! It may follow that, at least in many cases, first time home buyers in Myrtle Beach may not want to deal with remodeling issues. Attracting them could be the final reason to bring your property into “move-in” condition.

If you are thinking of Buying or Selling this Summer, please trust in your Myrtle Beach Real Estate Experts at Plantation Realty Group! (843) 796-2111

For owners who are contemplating some major upgrades with an eye to eventually selling a home in Myrtle Beach, there’s always the question of where to do the upgrading. Last year, the National Association of Home Builders weighed in with a study of what today’s home buyer “really want”—which supplies some guidance that may be helpful.

Although the findings aren’t directly applicable for every home, the concepts that were cited as most popular can be informative, particularly to creative-minded homeowners ready to take a fresh look at how they might add allure and value to their property.
While the kitchen remains the top location for upgrades, there are several other valuable options for adding appeal in other areas of your home.

“Drop Zone”

A Drop Zone is designer-speak for any area that conveniently serves as a catch-all utility area. As such, it can be just about the most cost-effective upgrade for owners selling a home because many prospective buyers recognize their value. Such spaces can be customized for use as laundry rooms, mudrooms, or areas where children can store backpacks and coats.

Open Plan Family Area & Kitchen

While many upgrade preferences are regional, one that continues to hold appeal across the board is the creation of an open area where family and friends can congregate. Whether it’s part of an eventual campaign for selling a home in Myrtle Beach, or simply to accommodate your family’s appreciation of the property, it’s worth considering an upgrade that would result in creating more of an open, airy multi-use area.

Master Bedroom as Retreat

When it does come to selling a Myrtle Beach home, one of the most alluring investments an owner can make is to transform the master bedroom from a ho-hum bed-and-dresser into a welcoming sanctuary. Some design specifics to help achieve that effect:

· Lighting improvements, like recessed fixtures and wall sconces
· Upgraded ceilings and moldings
· Hardwood flooring
· Walk-in master closet
· Custom-designed storage multipliers (like tilt-out bins and pull-down racks)

Master Bathroom as Spa

Transforming a master bath to include spa attributes is increasingly popular (when you think about it, it’s really a continuation of the master bedroom/retreat idea). Selling a home today means anticipating the value many buyers place on bathroom upgrades—like separating bath and shower, and upgrading tile floors.

If you are planning on Buying or Selling your Home this Summer, please contact your Myrtle Beach Real Estate Experts at Plantation Realty Group to help you today! (843) 796-2111

     When promising investment properties, in Myrtle Beach or anywhere, are well-promoted, you can count on them drawing a crowd. Why wouldn’t they? Investment properties that perform well are like money machines: put in a quarter, get back a quarter and a nickel (and another nickel, and another, and another…). What’s not to like?

     But not all Myrtle Beach investment properties are well-promoted. There can be any number of reasons why, but the bottom line is that some of the best ones are hard to sniff out. In that case, they may take a “Bird Dog” to discover.

     A word about the term. Ask any hunter (or even any regular viewer of Duck Dynasty—and there are a lot of those!) about the value of a good bird dog, and you’ll get an earful. Those canine sleuths use their highly-evolved senses to locate and retrieve the quarry—even when it is all but invisible to their human companions. Without a good bird dog, hunters would be the ones thrashing through swamp and forest to find supper. Not a pretty picture (and one that could often end in McDonalds’ for the folks back home).
In the world of investment properties, the counterpart is the real estate Bird Dog. Like the hunter, real estate investors highly prize a quality bird dog. They may not bring back a duck or pheasant, but the distressed and undervalued real estate that they locate can be orders of magnitude more lucrative may be of interest: Finds distressed property deals for a real estate investor and gets paid a referral fee according to the terms of their agreement.
 

     One of the mistaken assumptions that first time investors frequently make is to believe that simply finding property on the local MLS is all that’s needed. Although that can be the case, since everyone else seeking investment properties in Myrtle Beach also has access to MLS, the most promising listings usually draw a crowd of competitors. You need to be able to find deals that every other buyer isn’t privy to.

     Success can depend on understanding the historical criteria that have worked best for investment properties in Myrtle Beach that fall within your budget range. Maybe you should target multi-unit properties, or maybe the most lucrative investment properties will be mid-range residential homes. Some investors should be looking for rundown properties to rehabilitate, whereas others might most usefully be scouting out Myrtle Beach’s investment properties that are in better condition but with motivated sellers.

     For new investors or those with limited capital, thinking like a real estate Bird Dog will put you ahead in the hunt for the most lucrative Myrtle Beach investment properties. Even better is working with your own Myrtle Beach real estate bird dog who can source quality deals—and save you a lot of time!

     For the most dedicated team of Real Estate Professionals, trust in your Local Myrtle Beach Real Estate Experts at Plantation Realty Group! (843) 796-2111

Many people assume that when the kids leave home, their newly empty nest automatically signals that downsizing into a smaller house or condo is the next step. In truth, for such families living in Myrtle Beach, downsizing is a common option—one that could very well be the best choice.