Myrtle Beach Real Estate Blog

How to Sell Your Home as a Short Sale

What to Know About Selling a Home as a Short SaleThere are times when things happen in a homeowners life where they may have to sell their homes unexpectedly. An unexpected home sale may also show that home may be worth less than what is owed on the mortgage. This is also called being "underwater". In these cases, the homeowner has several options. One option is to wait for a foreclosure. Another option could be a short sale.

A short sale is one option for those who do not want to go through the foreclosure process, with possibly fewer negative consequences. In some instances, those who sell their home as a short sale may be able to soon buy another home sooner than they would if they had a foreclosure. The short sale process is different than the general home selling process, as the lender has much more influence throughout the process.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

What Is a Short Sale?

Circumstances can change. With a divorce, job loss or medical bills looming, not all homeowners can afford to continue making payments on a home and may need to sell. And in some cases, selling a residential property where the market value is lower than the outstanding mortgage could result in a short sale.

Homeowners who are faced with homes...

Selling Your House? Everything You Need to Know About Staging

How to Stage Your HomeHome sellers who want to sell their property quickly will usually start by making their home look as beautiful and desirable as possible. This is why staging is so important for people who want to sell their property. Home sellers who are thinking about selling their home in the near future should consider staging their property before listing it for sale. Proper staging for a home not only makes the home look better for the buyer as they tour a home, it also helps the photos look better that are posted to help sell the home. These tips can make staging easier for a person who wants to sell their property.

What Is Staging?

Staging is the art of making a home look more appealing to home buyers. Staging usually involves making aesthetic improvements as well as maintenance upgrades. Home sellers who want to sell their home quickly and for more money will often stage their property before ever putting their home on the market. Staging the home can make the property look up to date and well maintained.

What Must A Home Seller Do to Stage Their Home?

There are many things that home sellers can do to stage their home.

Decluttering

To stage their home, many sellers start by decluttering the property and making repairs. Decluttering is the act of removing all excess items from the home. Excess items could include collectables, papers, stacks of magazines, old furniture and old clothing....

Painting a Room For Beginners

Basic Steps For Painting an Interior RoomPainting walls can be a lot of fun that can help personalize any room in a home. Homeowners can choose to hire professional painters, or they can save a lot of money by doing the work themselves. But how does someone paint a room when they’ve never had experience with doing so before? Here is a guide to painting rooms for new and veteran homeowners alike who want to learn the ins and outs of customizing their home (whether it's for themselves or to stage their home to sell).

Clear Out Furniture and Do Prep Work

Painting isn’t just as simple as dipping a brush in a can of paint and going to town. First, homeowners need to make sure that they protect  what’s in the room, and that means doing some prep work. The first thing homeowners should do is move all furniture out of the room in order to protect it from accidental spills, or in the case of larger furniture, move it toward the middle of the room so it isn’t close to the walls. Other things to do include laying out a tarp to protect the floors and removing vent covers and light switch plates. 

Prep the Walls For Paint

It still isn't time to paint quite yet. First, the homeowner needs to clean the walls because dirty, dusty walls can prevent the fresh paint from sticking well. Cleaning can be done with a moistened rag,...

Reasons Why You Shouldn't Sell Your Own Home

Why You Should Avoid a FSBO Home SaleThe term FSBO stands for For Sale By Owner, and it's one of the options for home sellers who may be on a budget. Instead of securing the services of a real estate agent, the seller does the work themselves and saves the cost of commission. However, sellers may not be considering the many potential pitfalls of home selling as they may not realize just how specialized and detailed the work a real estate really is. From legal ramifications to financial mistakes, see why sellers usually regret taking the task of seeling their own home on themselves.

Home Pricing Is Difficult

There are some websites that show the average cost of a home in a neighborhood and possibly the recent home sales on a homeowner's particular block. However, there are potential drawbacks to a home owner trying to do their own website research. Many websites may not be displaying current information, Or the information they show may be misleading.

For example, each home sale is specific to the buyers and sellers in the transaction, determined by anything from the condition of the home to the specific contingencies listed in the purchase offer. These facts are not shown on a website, though they might be available to a real estate agent. Agents have the accurate selling information for nearby homes that a potential FSBO seller may not.

And pricing a home correctly from the start is critical for an eventual home sale. Set a price too high and sellers may turn buyers off immediately. Set the price too low, and buyers may think the seller has...

What is the Escrow Period? A Guide for Home Buyers

Everything You Need to Know About EscrowThe escrow period is an exciting and stressful time during the home buying and selling process. Home buyers who understand the escrow period and know what to expect while it's happening may find the escrow process to be less stressful.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

What Is the Escrow Period?

The escrow period is the period of time that occurs after the home selling contract is signed, before the house transfers ownership. The escrow period begins when the home buyer writes a check for a deposit on the house. This check is referred to as earnest money.

During this time, earnest money is usually protected by an independent third party business, either a title company or an escrow company. Sometimes, the escrow and title companies perform the same functions. Escrow companies act as the stewards of the earnest money. Escrow companies also manage the documents required to purchase the home.

The escrow period usually lasts from 30-60 days. During the escrow period, the home sellers pack their belongings to move out, and work with their real estate agent to ensure that the sale of the home goes smoothly. They may also accommodate the buyers, through their own real estate agent, when they need access to the home. Buyers are also usually very busy during the escrow period. Buyer activities...

Forget the Myths: Millennials Really Are Buying Homes

Millennials Have Become a Real Estate Market PhenomenonMillennials actually became the major force in the home buying market nationwide this year, and their thirst for the ownership experience isn't likely to fade, according to market analysts. So forget the myths about Millennials, they are currently buying homes!

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

A New Market Force

The Millennial age group, comprising buyers born between 1980 and 2005, now represents 35% of the real estate market, with 65% of them first-time buyers, according to a 2018 Market Report released by the National Association of Realtors.

The same report notes that Millennial buyers are more mobile than preceding generations, and do not hesitate to move to new locations, but they are also more apt to buy homes that they intend to stay in for a longer period of time than their parents or older siblings. These buyers no longer consider first homes simply starter homes.

Interestingly, younger buyers have become interested in older homes, not to fix and flip, but to renovate and live in. Ironically, it was baby boomers who are selling these types of homes and moving to urban condos or active adult communities. Even two...

How to Win a Bidding War When Buying a Home

Tips for Winning a Bidding WarSome home buyers are finding themselves facing stiff competition when it comes to finding and closing on a home in areas with few properties available. Hot real estate areas such as those in Seattle or some cities in California, can see homes have multiple offers the day the home goes on the market. In many cases, the home actually goes for over the asking price.

Even in cities like Phoenix and Dallas, homes in certain areas and in certain price ranges, may quickly receive several offers once put on the market. In worse cases, a prospective buyer may find that a seller may have as many as 10 buyer offers on the table when they initially list a home. How can potential buyers hope to compete with other buyers in a multiple offer situation?

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

Perform Research

Home buyers need to know the community where they will be searching and what they desire in a new home. Get an overview of current property values with beginning asking prices and whether homes generally sell at above or below asking prices. Begin your research at least six...

When to Repair or Replace Home Siding

When Is It Time to Repair or Replace Home Siding?There are many types of siding. Siding can already be on an existing home, added to a home or old siding can be replaced. There are plenty of reasons why some homeowners may want to replace home siding, including potentially making a home more attractive to potential buyers. Homeowners may also consider repairing or replacing damaged or older siding. Newer siding options are often of a higher quality, look better and may help protect a homes value.

Understand more about home siding and when it might be time to replace the siding on a home.

Why Repair or Replace Siding?

A good power washing may be enough to make siding that is only a few years old look like new. However, homeowners may have siding panels or shingles that have cracks or may have loosened over time. Different types of siding may be less resistant to high winds, and damaged siding that goes without being repaired cannot protect a home properly. This can allow moisture and insects into a home, making for additional problems for homeowners.

When only a few shingles are loose or damaged and tabs remain, it may be possible to inexpensively replace those shingles. When the initial home siding is at the end of its life cycle, it may be more cost effective to replace the siding altogether, rather than repair a serious issue and then replace the siding on a home in a year or so.

Are You Looking to List Your Home?

Some ...

New Construction Techniques for Home Building

What You Should Know About Technology in Home BuildingTechnology has been running at full force down a seemingly endless mountain, and it's made a lot of changes to the culture in its wake. But the construction industry has largely ignored many of the advancements of today, preferring to stick with the traditional techniques for residential building construction that have served them so well in the past. It is only recently that construction companies are adapting the technology to speed up their projects and reduce their overall production costs.

3D Scouting for Sites

Choosing building sites can be tricky for real estate developers because it's time-consuming to drive from place to place and carefully evaluate each property. It's why drones and 3D scanners are becoming more popular for decision makers. A drone can show the overall state of the property, helping developers see the condition of the land and the barriers that could stand in the way of building. A 3D scanner will give them even more perspective on the property because it shows the measurements of anything located on the building site. So if there's a small cluster of trees near the back of the land, the scanner will give their measurements to within 2 mm of accuracy.

Virtual Reality for Workers

In 2016, there were 991 deaths in the private construction industry. This alarming number signals that we need better training...

How to Get Started in Buying and Selling Land

4 Tips for Buying and Selling LandBuying and selling raw land is a great way to make money without having to expend very much effort, but investors may not realize the specific challenges before they get started. Ideally, a person would be able to purchase a piece of land when its worth next to nothing and then sell the untouched property to an anxious developer committed to expanding their business. But the realities of buying and selling land can put a serious dent in the profits. Learn more about the potential obstacles that can get in the way of the perfect scenario.

Sitting on the Property

It's not always easy to spot the neighborhoods that are getting ready to explode in popularity because growth takes time. Investors who want to make money quickly may not get the payoff they're looking for if they're buying and selling land. If a new steel plant is hiring thousands of employees, then real estate is immediately going to skyrocket in price. The key is to get to that land before the steel plant makes its announcement, which may mean having to wait several months (or even years) before an investment can start to recoup its original costs.

Checking the Topography

People who are new to real estate don't always realize just how much the natural lay of the land can interfere with their plans. From tree roots to sinkholes to erosion, there are plenty of potential barriers that can make...

5 New Developments in Green Construction Building

What Homeowners Should Know About Green Technology in ConstructionGreen technology is really the way of the future, and construction is slowly coming around to adopt new techniques and reduce the carbon footprint of their creations. While the developments have certainly not been seen across the board, it helps if home buyers understand the new choices on the market and the future predictions of what's to come. Here are five new developments that are worth noting for home buyers who value efficiency, innovation, and progress.

Green Heating

Most people think of green heating as solar power but geothermal heating has also made quite a splash as well. Those who may not have the access to the sun can rely on underground pipes that draw air from the Earth's 60° F core (a temperature that remains stable all-year round.) Considering geothermal heating is 500% more efficient than traditional heating, there are plenty of opportunities for a construction crew to save both a homeowner's wallet and the planet at the same time. Solar panels have also been steadily increasing in popularity and efficiency as well. The more competition on the market, the better the quality of the products and the lower the costs. In fact, California believes in solar panels so much that they're requiring all new homes built to have it (starting in 2020.)

Green Cooling

While it may...

Marketing Tips and Tricks for Home Sellers

7 Steps to Market a Home for SaleWhen people selling a home start to think of it as a business transaction, they may be able to recognize how important a good marketing strategy is for a home sale. Landing the right buyer involves putting up a good package, and then finding people who want it. Here are a few marketing tips that may boost a seller's sale price, or seal the deal a little sooner.

1. Bring In an Experienced Real Estate Agent

Even though millions of people will sell at least one home in their lifetimes, it really is not an activity that is easy for amateurs. Selling any product that may cost hundreds of thousands of dollars requires knowing:

  • what buyers want
  • which buyers want to buy certain kinds of houses
  • how best to get those buyers' attention

A real estate agent with plenty of recent experience working in the area will have detailed knowledge about all of these subjects.

2. Get a Feel for the Local Real Estate Market

Even with the professional guidance of a real estate agent, home sellers still have a lot of say in the direction of the sale. This means that sellers need to educate themselves on the nature of the market in their area and their neighborhood. The dynamic of the local market could affect the list price of the home, the way the home is staged, the details in the listing, and the speed at which the sale could be closed. Understanding these factors in advance helps sellers to go with the flow...

Common Dangers Found in a Single Family Home

Guide to Common Household DangersLiving in a single family home is generally considered to be safe. However, there are dangers everywhere, including in normal residences. Fortunately, there are many things that homeowners can do to make their home safer. Improving safety around the house starts with identifying hazards. These common hazards can be found in any home, whether you live in Barefoot Resort or elsewhere.

Electrical Problems

Wires that have a short, arcing electricity and overloaded electrical boxes can all cause electrical fires. Being able to identify the signs of electrical problems is important. Some of the common symptoms of electrical problems include:

  • Hissing and popping noises at the electrical box.
  • Soot around electrical outlets.
  • Flickering lights.
  • Inability to run appliances and electrical lights at the same time.
  • Lights dim when electrical appliances turn on.

Homeowners who notice these problems can fix the issue by contacting a licensed, reputable electrician to diagnose the problem and make repairs as needed.

Rotten Decking and Exterior Stairs

Decking and exterior wooden stairs are susceptible to rot if they're not properly maintained. Individual boards that have rot can break when people walk on them. A deck or stair case that has enough damage can even collapse.

...

How To Sell a Home With Pets

Selling a Home With Pets? 4 Can't-Miss TipsPets aren’t just random animals, they’re friends and part of the family, and pet owners will do whatever they can to make sure their pets are happy and healthy. When trying to sell a home to move to a new one, pet owners may come across advice saying they need to get rid of their pets or the home won’t sell, but this isn’t true. While selling a home with pets may be more difficult than selling a home without pets, it isn’t impossible, and here are a few different ways pet owners can give their home the best chance of finding a buyer.

Relocate Pets During Showings

A home showing is the most important time for a home because this is when buyers will decide if they want to purchase it or not. For this reason, guests should be made as comfortable as possible during this time, which means any pets in the home should be taken elsewhere for the duration of the showing. Not only are some people allergic to animals, guests may also be afraid of them. Removing pets from a  home during showings can also be better for the pets, as it’s possible for buyers to bring along small children who don’t know how to act around animals, or doors can be left open and it could be possible for pets to sneak outside where they can be harmed. 

Homeowners can temporarily relocate their pets by taking them to a kennel...

5 Tips for Better Pest Remediation

How to Keep Pests Away from the HomePests are not only a nuisance to homeowners but a real threat to both the residents who live there and the actual physical structure of the property. They can carry diseases that make people ill or damage the interior components of the home by building their own residences inside the walls or under the floorboards. To lessen or eliminate the damage they cause, keep the following in mind.

Check the Barriers

Holes in the home aren't always easy to spot because they can exist in some of the least likely of places. However, tears in a screen or gaps in the doors or windows are clear invitations for bugs or rodents to make their way inside.

Start Cleaning

Crumbs are magnets for pests and the longer they stay out, the more likely it is a hungry critter will find them. Trash needs to contained, counters need to be washed, and floors need to be swept regularly. It has nothing to do with making the home spotless and everything to do with foregoing an expensive exterminator.

Walk the Perimeter

Standing water is where mosquitos like to reproduce, so it's pivotal to find the sources on the property where it can form. Look to the gutters, tires, and appliance units for the most likely sources and then start sopping up the problem.

Perform Outdoor Maintenance

Firewood needs to be stored as far away from the home as possible...

How Much Your Credit Score Matters When Buying a Home

Why Your Credit Score Matters for Your Home LoanMost people know their credit score is an important part of applying for a loan, but not everyone knows just how much that number affects how much they pay over time. Part of the problem is that lenders aren't as transparent as perhaps they should be about what they're charging and why. They'll add in fees that may sound like standard protocol but are really just an attempt to alleviate their fear of default from a high-risk buyer. Learn more about how credit score factors into mortgage terms before submitting a mortgage application.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

The Sweet Spot

Before getting into how credit affects a buyer's mortgage payments, it's important to identify what conventional lenders are looking for. Most lenders want to see scores that are at least 700 or higher (ideally, 760 or more), even though they will consider those with scores under 680 if the candidate has a stable income without a lot of additional debt. If the borrower is under 640, they may need to look outside traditional funding sources. While certainly an option, high-risk borrowers will not be offered the attractive loan terms that financially stable individuals will receive.

Interest Rates

This is usually the first (and most significant)...

Lighting Tricks for Selling Your Home

How Creative Lighting Can Help Stage the HomeLighting is important, especially when it's time to stage the home. Proper lighting can help make the room look airy and more spacious, and can also make the home look cleaner. Homeowners who need to stage their home for real estate showings can use lighting in creative ways to highlight beauty in the home. These tips will help homeowners use lighting to stage their home creatively.

Clean All Windows

Dirty windows can restrict light coming into the home. Cleaning the windows helps to ensure that all the light is able to filter in through the windows. Maximizing daylight in this way can make the home's interior look more cheerful.

Use Sheers to Create Diffuse Light

Dark curtains can create a heaviness in the room while also blocking light and adding shadows to the space. Replacing dark curtains with sheers enables more daylight to enter the home. Sheers can be left open to allow daylight to pour in directly, or they can be closed to create a diffuse, natural glow.

Use Edison Bulbs for Dramatic Effect

Edison bulbs are creative and artful. They look great on bare bulb light fixtures and on fixtures where the bulb is partially visible beneath a shade. Edison bulbs have a slightly antique, industrial appearance that's especially effective in rooms that are decorated with wood and metal furnishings. Edison bulbs work best when a homeowner wants to...

How to Identify Mold Growth in Your Home

Does Your Home Have Mold? What You Should Be Looking ForThere are a few things no homeowner ever wants to find in their home. Pests are one, and mold is another. Whereas insects and rodents usually leave behind tell-tale signs of their presence, mold can be more difficult to identify, especially for those who don’t know what they’re looking for. Here are some of the different ways Pawley's Island homeowners can look for mold in their home to keep themselves and everyone in the home safer.

Mold Can Affect Health of People In the Home

Many people suffer from seasonal allergies, especially in the spring and summer. To someone who doesn’t know any better, mold having an affect on the people living in the home can be written off as just seasonal allergies. Common symptoms of sensitivity to mold include:

  • Congestion
  • Coughing and sneezing
  • Sore throat
  • Eye irritation (especially dry or watering eyes)
  • Skin irritation
  • Headaches

If a homeowner is experiencing these symptoms outside of normal allergy seasons, it can be a sign of a mold outbreak in the home. If the mold is left untreated, prolonged exposure to it can lead to the development of deadly diseases and conditions. These include asthma, cancer, liver and kidney failure, neurotoxicity, birth defects, and more.

Smelling Out Mold Before It Becomes Visible

When looking for mold,...

How to Insulate Your Home to Save Energy

How to Improve Home Insulation: Factors to ConsiderBuilding in extra insulation, or replacing old home insulation, is an excellent way to save energy and money on heating or cooling. In fact, improving home insulation is one of the most efficient ways to increase home value. These tips help homeowners understand how to decide if they need more insulation, and which kind might be best.

When Does a Home Need More Insulation?

There are a couple of ways homeowners can determine that they need more insulation. The first involves an analysis of the home's heating and cooling, and the second concerns the actual condition and thickness of the existing insulation. Homeowners may already have some sense that their insulation is not up to par. Certain rooms feel uncomfortably hot or cold, and using the HVAC system does not seem to make a difference. Using an infrared thermometer may be an easy way to identify certain thermal irregularities in the walls.

For a more complicated and thorough inspection, homeowners can get into their home's insulation and see if it meets local standards. The attic insulation is a good place to start. Every type of insulation has a different level of protection, known as R-value. Homeowners can find the R-value that is needed for new construction in their area, and determine if they have enough insulation to suit. If they do not, they should consider adding more.

How Does R-Value Work?

All insulation is measured in what is called “R-value.” The ...

Visiting or Buying a Place in Myrtle Beach: What Each Area Has to Offer

Where to Go When Visiting or Buying a Home in Myrtle BeachAre you looking to buy or stay at a place in Myrtle Beach? It can be hard to decide on which area to choose as there are attractions in each location. Twelve unique communities are encompassed in the area known as Myrtle Beach. A lively downtown area, loads of natural beauty and historic areas can be found in and around the Myrtle Beach area. This area has grown in popularity and continues to attract new and returning visitors every year.

Potential buyers whoneed larger accommodations may want to look for a spacious condo with multiple bedrooms, those looking for smaller spaces may want an accommodation close to the action, and others may want a more low-key area that includes beach accessibility but with less congestion than the most popular areas. One's own objectives and budget may influence which area of Myrtle Beach may be most suitable for an upcoming vacation. What do visitors and possible future residents need to know about the different areas of Myrtle Beach?

North Myrtle Beach

Homeowners and visitors like the North Myrtle Beach area as it includes numerous attractions and shopping options. Condo-style accommodations offer multiple bedrooms for travelers. North Myrtle Beach attractions include:

  • Alligator Adventure
  • Tanger Outlets
  • Barefoot Princess Riverboat
  • ...