New Home Incentives

March 28th, 2009

I was speaking with one of my business associates from a local bank in Myrtle Beach, and she was telling me about a special financial incentive they offer. The incentives are being offered for consumers that purchase one of the homes built by their clients. The bank is First Federal, and the incentives are as follows:
 Adjustable rate mortgages at 1.0% below their current ARM rate
 Fixed rate mortgages at 0.50% below their current fixed rate
 No Lender Fees (no origination fee and no underwriting/processing fee)
 Loan amounts available up to 100% of the value of the property
 Local decisions and loan processing
Here is a list of the properties available from First Federal. Call me at 843-267-4627 if you have questions on any of these new homes.
Address    City  Neighborhood  List Price
616 Edgecreek Drive  Myrtle Beach  The Bluffs  $500,000
6009 Fish Hawk Court  Myrtle Beach The Bluffs  $800,000
201 Appian Way  Myrtle Beach The Gates  $321,900
101 Ocean Sands Court  Myrtle Beach Brighton Lakes  $475,000
68 Wicklow Way  Pawley’s Island Hagley Estates  $422,900
1005 Kelly Court  Garden City East of 17  $439,900
Lot 357 Mcleod Lane  Myrtle Beach Cypress River Plantation$419,900
58 Knotty Pine Way  Murrells Inlet Collins Creek Landing $619,900
100 Planters Creek Drive Myrtle Beach Planter’s Creek  $395,000
544 Truitt Drive   Longs  Myrtle Grove Plantation$185,900
3760 Hopseewee  Myrtle Beach Plantation Pointe $1,100,000
8968 Florantino Court  Myrtle Beach Grande Dunes  Unavailable
1261 Brown Pelican Drive Myrtle Beach Pelican Harbor  $199,000
1345 Brown Pelican Drive Myrtle Beach  Pelican Harbor  $199,000
1729 Bridgewater  Conway  Bridgewater  $135,900
138 Low Country Loop  Murrells Inlet  Prince Creek  Unavailable
Lot 1 Southborough Lane Myrtle Beach Southborough  $179,900
Lot 59 Myrtle Grove  Longs  Myrtle Grove Plantation $178,200
11567 Freewoods Road  Myrtle Beach Cedar Woods  Unavailable
369 Blue Rock Drive  Longs  Myrtle Grove Plantation$176,100
357 Blue Rock Drive  Longs  Myrtle Grove Plantation$178,200
476 Cotton Grass Drive  Longs  Red Bluff  $190,000
350 Blue Rock Drive  Longs  Myrtle Grove Plantation$181,500
1049 Johnston Drive  Myrtle Beach Cypress River Plantation$599,000
313 Cherry Buck Trail  Conway  Wisteria Woods  Unavailable

 

Well’s Fargo Resort Condo Program

February 11th, 2009

I am always explaining to my clients that it is always better to use a local lender when purchasing Condos in Myrtle Beach. The reasoning behind that is that many lenders in other areas don’t understand the product involved with an ocean condo in Myrlte Beach, South Carolina. Well’s Fargo has had over the past few years a list of approved ocean condo buildings in our area. Today I received a new program that Well’s Fargo has from a local originator, and I felt it important to share this information in case any of my readers were searching for an ocean condo in Myrtle Beach. Here are some of the new guidelines provided by Vivian Tomasetti of Well’s Fargo of Myrtle Beach:


2nd homes-75% max LTV (could increase in the future) Ask about 100% financing with cross collateralization or pledged account!

               a. 750 sq ft minimum
               b. Full Kitchen required
               c. Approved property

Investment Purchases-65% max LTV (could increase in the future) Ask us about 100% LTV with cross collateralization or pledged account!

               a. 750 sq ft minimum
               b. Full Kitchen required
               c. Approved property

Conforming Limit- NOT $417,000 but rather $650,000!

MAX four mortgages-PER INDIVIDUAL not per transaction.

Good Borrowers- can do a 2nd home if already own rental property in Myrtle Beach as long as 1.) buying up 2.) showing rental income on current property 3) good credit worthy buyer and loan makes sense.

Individual LLC Titling available.

Units without kitchens/ less then 750 sq ft-up to 55% LTV and CLTV 100% available with cross colateralization and/or pledged account!

Terms of Loan- 5/5 and 3/3 arm with interest only feature available.

Tips before listing your home

February 3rd, 2009

With the Spring coming many of you will soon toy with the idea of placing your home on the market for sale. By the end of February in the Myrtle Beach area most people know if they are planning to take that leap or not. If you are planning to place your home on the market here are a few simple touch up tips for you this year that may help you receive an offer, or make an extra buck from the sale of your home.

Curb appeal leaves the first and last impression of your home to a potential buyer. You may want to install a new mailbox, upgrade outdoor lighting, replace old door mats, plant flowers, and most importantly have the house and sidewalks pressure washed.

It is very important to have the inside of the home give the buyer the “Wow” affect when first walking into your home. Some of things you may want to consider that are fairly inexpensive are to buy new pillows for sofas, Place centerpieces on your large counters and tables, organize and reduce clutter, and most importantly replace family photos with nice paintings.

As the buyer walks through your home, it is important that they concentrate on the layout of the home, and not on items that would cost money to repair. Complete repairs like torn Window screens, fix or replace leaky or outdated faucets and re-caulk sinks and bathtubs.

There are lots of inexpensive ideas that will be helpful to get you home ready for sale. Stayed in tuned to these ideas by making frequent visits to the “List Your Home” Section of this website

Tax Implications when moving to Myrtle Beach

February 3rd, 2009

When relocating to the Myrtle Beach Area, most people find a difference in the tax structure compared to their home state. My purpose of this blog post is to go over some of the tax implications involved with owning a home, and conducting business in Horry County.

1)      Income Tax- If you are planning to relocate your career to Myrtle Beach, SC you may have a questions or two about our state income tax rate. As I last noted in 2007, the State of South Carolina was taxing from 3 to 7 percent for income. This Income tax also affects investors buying and selling Real Estate in Myrtle Beach, because the closing attorney will withhold 7% of your realized capital gains from a real estate transaction.

2)      Residential Property Taxes- Whether you live in this city limits or within the county affects how much property taxes you pay for your property. Also, the use of the property affects how much you pay. If this is a second home that you own or an investment property, you can guarantee that Horry County will tax you higher than if the property was your primary residence.  Property taxes are figured like this Taxes = Assessed Property Value X Millage Rate X 4% for primary residence or 6% for all others. Millage rates change from county to county within South Carolina.

3)      Sales Tax- The State of South Carolina Sales Tax is 6%. Counties may impose an additional 1% to pay for property tax rollbacks. In Horry County that had recently been done to help pay for roads in our ever developing area.

The above three taxes are the most asked about, although there are some other taxes that may be different from the state in which you currently reside. Check back frequently to the Myrtle Beach Relocation section of this website for updated websites filled with information about the Myrtle Beach , South Carolina Area.

January 24-30 Foreclosures

February 2nd, 2009

This week’s Myrtle Beach Foreclosure list was a little extensive with 24 new properties listed on the MLS. I have narrowed down the list slightly to include only the listings in the areas that I am quite familiar with. By doing this, I can provide the latest sold information if any, and give a brief description of the properties. Please look at the chart that I created below with the foreclosures that came on the market for this week January 24th through January 30th. The last sold prices represent properties of the same size and character of the foreclosed property.

Subdivison                   Price          Last Sold       SoldDate          Basic Information

Waterway Palms        $55,000       $75,000          08/14/08            Lot 619/.18 acre

Waterbridge               $69,900       None found   NA                      Lot 345

Waterway Palms        $75,000       $75,000           08/14/08            Lot 550/.19 acre

Bellegrove                   $110,400     $110,000         10/24/08            331 Bellegrove  3BR/2 ½ Bath

Glenmere                    $128,900      $128,500         12/23/08           3932 Glades 3BR/2 Bath

Pines of St. James      $144,900      $134,000         07/25/08           9923 Conifer 3BR/2 Bath

Berkshire Forest         $154,900      $149,900         04/30/08           200 Threshing 3 BR/2 ½ Bath

Magnolia Pointe         $161,000      $152,000         01/16/09           4883 Luster Leaf 3BR/2Bath

The Farm                       $203,700     $251,948         10/15/08           3205 Fieldstone  3BR/2 ½ Bath

Garden City                   $235,000      No Comps     NA                     611B Vista 4BR/3 ½ Bath

North Myrtle Beach     $240,000      None Found NA                     900 20th Ave. N 3BR/2Bath

Linksbrook                    $255,000      $255,000       10/15/08           24 Longcreek 3BR/2Bath

Longbay Estates           $329,900      $434,900       01/22/09           4915 Willow 4BR/3Bath

Plantation Lakes          $444,900      $556,000      10/03/08            8345 Juxa 4BR/3 ½ Bath

Laguna Keyes                $449,000      $412,500       8/11/08             5700 N Ocean 3BR/3Bath

Dunes Cove                   $499,900       $600,000      05/19/08           402 Patterson 6BR/4 ½ Bath

Huntington Marsh        $509,900       No Comps   NA                     5443 Huntington 3BR/3Bath

Leather Leaf                  $609,900       $578,900      07/08/08           5509 Pheasant 4BR/3 ½ Bath

Garden City                    $674,900       No Comps   NA                     813B N. Waccamaw 6BR/6 ½ B

Grande Dunes               $739,900      $1,000,000    12/31/08          8986 Bella Verde 3BR/3 ½ Bath

If you have questions about any of these properties or would like more information, email me and include the address that you found here at your Myrtle Beach SC Real Estate website.

Surfside Beach “The Family Beach”

January 26th, 2009

Surfside Beach is the town just North of Myrtle Beach and South of Garden City in Horry County. Many families vacation to this beautiful beach every year, because of it central location to everything that Myrtle Beach has to offer, but away from most of the mainstream tourist traffic. Surfside Beach is only two miles long and extends as far west as Bypass 17. Like most other areas along the Grand Strand, Surfside Beach is also good for golfing, fishing, boating and other water sports. Surfside Beach is also home to several entertainment venues like “Legends in Concert” and “Wild Water N Wheels”. There are not as many condos and high rise buildings along the sandy beaches of Surfside Beach as there are in other areas of the Grand Strand.

Surfside Beach consists mostly of beach homes near the coast where families get together year after year to enjoy each other in a beautiful and relaxing atmosphere. There are also quite a few newer and several established neighborhoods on the West side of Highway 17 that many residents call home. Surfside Beach is known these days as the “Family Beach” and this can also be noticed by walking these beaches during the Summer Season. For more information about Surfside Beach take time to look at the town’s website at http://www.surfsidebeach.org

Foreclosures from January 17-23

January 25th, 2009

After searching through the MLS on Friday, I found 11 Foreclosures new to the market this week that my readers may be interested in. These properties are all Condos and Houses and are scattered in different neighborhoods through Myrtle Beach, Garden City, Murrells Inlet and Pawley’s Island. As always let me know if you have any questions. My contact information is Darren Woodard 843-267-4627 or darrenwoodard1@gmail.com.

Hammerstone Landing:

Here is a 3 Bedroom/ 2Bath Home with a 2 car attached garage located at 112 Clovis in Hammerstone Landing. This home measures between 1200-1300 heated square feet. The asking price is $139,900 and the last property to sell in the neighborhood was for $144,000 on January 2, 2009. The last property to sell was also a Foreclosure. To view more information about the property please click on the image below. To view other properties for sale in the neighborhood visit our Hammerstone Homes For Sale section.


112 Clovis-Foreclosure

Brighton Woods:

Here is a 4 Bedroom 2 ½ Bath Home with 2 car garage located at 1276 Brighton Avenue in popular Brighton Woods community off of Highway 707 just west of Surfside Beach. The homes in this community were initially constructed by Lennar Homes within the last 4 years, and offer a lot of upgrades. This particular home has a fireplace and stainless appliances. To view more information about the property please click on the image below. To view other properties for sale in the neighborhood visit our Brighton Woods Homes For Sale section.

1276 Brighton Avenue-Foreclosure

Garden City Beach

Here is a home East of Business 17 in Garden City with just a short golf cart ride to the beach. This home is older and a 3 bedroom 1 ½ Bath with a large deck. The last home that I can find that is comparable by both age and size sold for $217,000 in November. It is hard to find homes this close to the Beach for the same price, and this one would be worth taking a look at. To view more information about the property please click on the image below. To view other properties for sale in the neighborhood visit our Garden City Beach Homes For Sale section.

430 Belle Drive-Foreclosure

Pawley’s Retreat:

Here is a well priced foreclosure in Pawley’s Island at 127 Great Lakes. The last home comparable sold for $275,000 July 11, 2008. This is a 3 Bedroom 2 ½ Bath home with a 1 car attached garage, fireplace and bonus room. I believe that the hardwood floors will need refinishing, and the rest of the home will need a little TLC. Great home located in the Waccamaw School District, and the Home Owner’s Association Fee is only $22/month. To view more information about the property please click on the image below. To view other properties for sale in the neighborhood visit our Pawley’s Retreat Homes For Sale section.

127 Great Lakes-Foreclosure

Blackmoor:

Here is a large home in the golf course neighborhood of Blackmoor in Murrells Inlet. This is a 4 bedroom/ 2 ½ Bath home with attached 2 car garage located at 6200 Longwood Drive. This home has a 1st floor master suite, and many upgrades throughout. The last home of this size in Blackmoor sold for $305,000 on January 5, 2009. To view more information about the property please click on the image below. To view other properties for sale in the neighborhood visit our Blackmoor Homes For Sale section.

6200 Longwood Drive-Foreclosure

Caravelle Tower:

Here is a magnificent ocean view condo with wood floors in the living area and tile in the wet areas. This is a 1 Bedroom/ 1 ½ Bath Condo located at 6900 North Ocean Blvd. Property Owner’s Fees are $585/month which includes exterior insurance. To view more information about the property please click on the image below. To view other properties for sale in the neighborhood visit our Caravelle Tower Condos For Sale section.

6900 N Ocean Blvd-Foreclosure

Shorewood:

Here is a 2nd floor Unit in Shorewood off of 29th Avenue North near Broadway at the Beach and Myrtlewood Golf Course. This is a 2 Bedroom/ 2 Bath Condo for $100,900. The last two bedroom sold in Shorewood for $110,000 on September 17, 2008. To view more information about the property please click on the image below. To view other properties for sale in the neighborhood visit our Shorewood Condos For Sale section.

3015 Old Bryan Drive-Foreclosure

Briarcliffe West:

Also in Briarcliffe West off of Highway Business 17 just North of Colonial Mall there is a 3 Bedroom/ 2 Bath condo for $104,900. This is not quite as good of value as several of the foreclosures above. The last two that sold in Briarcliffe West were for $65,000 and $100,000. The buildings are 36 years old, and lots of the units need upgrading within the kitchens and bathrooms. To view more information about the property please click on the image below. To view other properties for sale in the neighborhood visit our Briarcliffe West Condos For Sale section.

10301 N Kings Highway-Foreclosure

Magnolia Place:

Here is a 2 Bedroom/ 2 Bath Condo in a much desired area of Myrtle Beach just West of Bypass 17 and between Avenues 38 and 48. These condos within the golf community of Myrtlewood offer Vacation Rentals to the owner if desired. This unit is selling for $118,500. That last unit comparable to this one sold for $130,200 on September 26, 2008. To view more information about the property please click on the image below. To view other properties for sale in the neighborhood visit our Magnolia Place Condos For Sale section.

4757 Wild Iris Drive-Foreclosure

Magnolia Pointe:

Here is a condo in Magnolia Pointe which is the community right next to Magnolia Place. This is also a 2 Bedroom/ 2  Bath condo. This condo overlooks the pool and the lake, and is located on the 2nd floor. The asking price of this unit is $124,900, and the last one to sell was for $134,900 on January 16, 2009. To view more information about the property please click on the image below. To view other properties for sale in the neighborhood visit our Magnolia Pointe Condos For Sale section.

4821 Luster Leaf Circle Berkshire Forest Townhome:

Here is a townhome in the community of Berkshire Forest which is a Centex Homes development off of River Oaks Drive. This is a 3 Bedroom 2 ½ Bath Townhome in the Windsor Park Section of Berkshire Forest. Owners of these townhomes from my understanding have access to the amenity center of the housing section of Berkshire Forest, which includes a huge clubhouse, pool area, basketball, bocce ball and much more. This unit is selling for $154,900. The last unit to sell in Windsor Park was a newly constructed townhouse for $149,000 on April 30, 2008. To view more information about the property please click on the image below. To view other properties for sale in the neighborhood visit our Berkshire Forest Townhomes for Sale section.

Little River Area

January 23rd, 2009

Little River is the community farthest to the North bordering North Carolina just below Calabash. The small traditionally fishing and boating community is consist of approximately 9,000 residents. This small town is mostly known for its great fishing, fresh seafood, slow paced lifestyle and most importantly its annual Blue Crab Festival which takes place every year in May. Now consuming the Inlet Waterfront of Little River are two casino boats; The Big “M” and Sun Cruise Casino. Also along the waterfront during the season all kinds of water sports are available.

Development in Little River over the past several years has grown exponentially, and several new communities have emerged close to the coast, and down Highway 9 toward Longs. As new development occurs or events are announced, I will post them to this Little River Section.

 

Also please feel free to look over some of the Real Estate in the Little River Area by checking out our Little River Real Estate Section.

Keep Informed Grand Strand

January 23rd, 2009

The Grand Strand commonly known by many as Myrtle Beach is the strip of coastal frontage that stretches approximately 60 miles from Little River in the North down to Georgetown and all areas in between. Within this Myrtle Beach Real Estate Blog, it is my intention to keep you as informed as possible on the developing and developed areas that make up the “Grand Strand” region. From North to South, this area consist of Little River, North Myrtle Beach, Myrtle Beach, Surside Beach, Garden City Beach, Murrells Inlet, Litchfield, Pawley’s Island and let’s not forget Georgetown. Each section of the “Grand Strand” has its own unique character and lifestyle that separate each community, and will hopefully make one of these great areas a place that you would like to call home. Although the “Grand Strand” consists of the coastal area, let’s not forget the two more rural towns that border the Grand Strand to the West; Loris and Conway.

Please check back from time to time to hear about developments and upcoming events within these communities.

New Myrtle Beach Foreclosure Section

January 23rd, 2009

As many of you have probably noticed, foreclosures have become a realization along the “Grand Strand” from Little River to Georgetown. It is my intention to keep my reader’s and possible Myrtle Beach Real Estate shoppers as informed as possible as new foreclosures come on the market. I know several Realtors in the area that specialize in listing these properties, and there inventory levels have grown substantially over the past year.

I have decided to start a new section of this blog titled “Myrtle Beach Foreclosures” to keep possible bargain hunters informed as new Foreclosures come onto the market. I will be adding a blog post every weekend to briefly discuss the foreclosures that I saw hit the market the previous week. Visit this section frequently to see the subject foreclosed property, and a brief analysis of the value of the home, condo or land.