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Archive for the ‘North Myrtle Beach Real Estate’ Category
Come see The Cottages at Seventh furnished models!
Sunday, March 17th, 2013
Beyond the twin entrance gates at 7th Avenue South in North Myrtle Beach, the developer has created an Islands-inspired “oasis” that promises to provide everything you desire in your beach home lifestyle.
The two or three bedroom beach cottage floor plans, named after popular South Carolina islands, are available in either a 2-story townhouse style or a 1-level plan. Each cottage also features a golf cart garage, fully-equipped kitchen, and multiple upgrade options.
The varying hip or gable lines of the glistening metal roof and the tropical colors of the HardiPlank siding on the four and five-plex buildings contribute a low-key, easy-living environment. In addition, street names and community areas play on the famous nightlife scene of the Main Street clubs in North Myrtle Beach’s Ocean Drive section.
The 7th Avenue South location provides centralized access to both North Myrtle Beach and Myrtle Beach. Across from the main US Post Office on a residential non-through street, the site is an easy golf cart ride to the beach and convenient to shopping, restaurants, family amusements, theatres, and all the other attractions the area is famous for.
The North Myrtle Beach Market Report for January 2013
Sunday, March 3rd, 2013The North Myrtle Beach Market Report provides month to month and year to date comparisons for the single family and condo transactions in the North Myrtle Beach market.
CLICK HERE for The North Myrtle Beach Market Report for January 2013
The Hoffman Group is pleased to share these statistical reports to help you better understand the current economic condition of the real estate market in Myrtle Beach, SC and surrounding areas. Distributed monthly by the Coastal Carolina Association of Realtors Multiple Listing Service, the data is deemed reliable but not guaranteed. You should always discuss such data with a trusted REALTOR before making any purchase decisions.
CALL US TODAY AT 1-877-671-5024 to speak with a REALTOR® sales associate and begin the search for the property that is best suited to your purchase needs.
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How to Know If A House or Condo is Right for You
Saturday, February 23rd, 2013House hunting can often times turn into a stressful affair. One of the keys to successfully finding a new home, though, resides in the ability to be confident and know when a house or condo is the right fit for you.
Here are a few things to think about to help determine the best home for you:
1. Is this property located in your ideal neighborhood?
Finding a great property located in an area you find lacking in many criteria not only contributes to a decreasing property value but will leave you feeling unfulfilled with your purchase. Luckily, Myrtle Beach has been rated in the Travel Channel’s Top 10 Vacation Spots, as well as a top area for projected growth in the next few years, and is just one of the many great areas located throughout the Grand Strand.
It’s smart to pick two or three areas you really like and start your search from there. Consider these questions to help you narrow your search for best location. Do you like walking to your local coffee shop or is finding a nice, quiet street at the top of your list? Is being on the beach important to you? Do you like neighbors close by or do you want extra room to spread out? These questions help you narrow your search to the location that will make you happy with your home purchase.
2. Does it have your top criteria items?
If you’re not the picky type or aren’t one to be detail-centric, your search for a new home is the one time that you should be picky and aware of the key details regarding your potential purchase. Don’t settle on a property that doesn’t have everything you need to make you happy. You are the only one that knows the things that are necessary in your new place as well as the items that you can do without.
Knowing the importance of each item on your list of top criteria for your new home will help you to choose between two different properties should you find yourself in this situation. If your favorite place in your hunt isn’t available or isn’t an option, your criteria should help point you to your next favorite property with confidence.
3. Can you imagine yourself living there?
Seeing the property, the price, and the surrounding neighborhood is one thing, but actually imagining you and/or your family living there is something completely different. Picture yourself living in a prospective new home before you make the big decision on whether to buy or not.
When you find that house that’s clearly “the one”, be ready to act decisively and put in your offer.
If you are in the market to purchase a new vacation condo or property, we would be glad to help you. Be sure to grab our free whitepaper, Myrtle Beach Real Estate: 5 Things You Should Know, for insight and information on purchasing a property in the Myrtle Beach and Grand Strand area.
New Infographic: Grand Strand Residential Trends as of February 1, 2013
Thursday, February 14th, 2013
The Grand Strand
2012 proved to be a welcome improvement for the Grand Strand area over the last few years in terms of sales performance for all property classes (single-family residential, condominium, and residential lots). There is little doubt that historic low interest rates provided that boost for sales activity.
With sales on the rise, current homeowners in the Grand Strand area have begun to see an increase in prices due to supply and demand. As illustrated on the Grand Strand Residential Trendschart (shown above), inventories were lagging behind 2011 throughout the year until most recently due to it’s usual seasonal uptick in the first quarter. Also assisting the increase in home prices was the continued decline in distressed inventory. This decline has continued month-to-month for most of 2012.
While sales activity showed a robust increase of 17.9% in 2012 compared to 2011, there is cautious optimism that this will continue due to a sufficient and competitive inventory, continued low rates, and eager buyers and sellers.
The Economy in General
The fiscal cliff has added an extra, unique dimension to an already interesting housing market. And while home loan rates remain near historic lows, the housing industry appears nationally to be on the cusp of cautious optimism. However, there are mixed emotions.
Last week’s Existing Home Sales numbers (nationally), which are reportedly down 1% for the month of December, suggested at best a suspect outlook nationally for the housing industry going into the first quarter of 2013.
While the reported numbers for Existing Home Sales were lower than expectations, they might not be telling the full story. According to national real estate expert John Burns, CEO of John Burns Real Estate Consulting Agency there’s a positive housing trend that is currently driving the recovery of the housing market. As reported, the number of distressed transactions, or sales that must be made under unfavorable conditions for the seller, is falling rapidly (as experienced in Grand Strand), in turn, driving down existing home sales and moving normal buyers to return to the market. The housing industry appears to be moving forward at a positive rate, no doubt aided by the supposed 5-year, 50% decline that distressed transactions are currently experiencing.
Improving Housing Market
John Burn also believes that the number of normal buyers are returning and will continue to do so in the next 3 to 4 years, saying that between 2010 and 2016 the number of normal buyers will grow by around 80%, a great sign for a healthy, improving housing market.
In the Grand Strand market?
If you are in the market to purchase a new vacation condo or property, the Grand Strand area are both continuing to grow rapidly. Remember, now is the perfect time to buy a new home as home loan rates remain near historic lows. For insight on purchasing a property in the Myrtle Beach and Grand Strand area, be sure to grab our free whitepaper, Myrtle Beach Real Estate: 5 Things You Should Know.
A professional real estate agent at the Hoffman Group would also be glad to assist you. To get started feel free to call us at (877) 671-5024
Read The Full Article Here
The material provided is for informational and educational purposes only and should not be construed as legal, investment and/or real estate advice. Although the material is deemed to be accurate and reliable, we do not make any representations as to its accuracy or completeness and as a result, there is no guarantee it is without errors.
Renting Out Your Vacation Home
Sunday, February 3rd, 2013Rated in the Travel Channel’s Top 10 Vacation Spots, Myrtle Beach continues to be a sought-after vacation destination, both for those simply visiting and others who are seeking to move here. If you are among the many who have chosen to buy a vacation home along the Grand Strand, you might consider renting out your vacation home when you’re not using it, in order to get the most out of your investment and purchase.
Here are some things to keep in mind if you are considering renting out your vacation home.
A Good Rental Agreement Goes a Long Way
Not much can be more valuable in a renting situation than covering all of the bases with a good agreement, and then some. Being specific protects you and your property and will give both you and your guests a clear mind when the vacation begins.
Insurance policy coverage for renters varies depending on the type of property. Condo hotels usually cover renters but may not in some cases. You might want to consider purchasing an H06 condo insurance policy to bridge any gaps in coverage. Most renter sections in a typical home policy won’t cover daily rentals; usually the individual home policy will include the duration but it is usually monthly, and sometimes weekly. Daily coverage typically requires a special coverage rider. In any case, you should check with your insurance provider to make sure you are covered.
It’s also important to have a specific policy on things that place an additional risk on your property. Consider the following items to pay particular attention to:
- Maximum number of guests allowed
- Party policy
- Pets
- Smoking
Some of these items often carry additional risks. If you choose to allow any of them, consider charging extra for each additional special item that you allow beyond the typical package agreement.
Accidents Will Happen
Like any renting situation, accidents will happen regardless of the precautions that are taken. Check and make sure your insurance policy covers renters, and if so, what specific items are covered. Once you obtain an insurance policy that will protect you from damages generated by your guests, consider asking for a refundable security deposit to cover if any smaller problems should arise.
The Host vs The Landlord
How you approach the prospect of renting will carry a lot of weight in how popular your property becomes, how fulfilled your guests will be at the end of their stay, and ultimately, how rewarding renting out your vacation home will be to you.
The landlord and rentor relationship is mostly a business one, covering all of the typical items you’d imagine being in a rent agreement. However, vacation-goers aren’t seeking a typical arrangement but are looking for a memory. Treating them with the mind of a host will help you to make their stay memorable.
What Your Vacation Home’s Income is Really Worth
How long you live in your vacation property in addition to how long you choose to rent it out have big implications on whether or not you receive tax breaks and how much you could be responsible for paying in rental property taxes.
The three categories, according to Investopedia, are as follows:
- Property rented for 14 days or less. The house will still be considered a personal residence in this situation, allowing you to operate under standard second home rules.
- Property rented for 15 days or more, with the owner using it for less than 14 days or 10% of the days the property was rented. This situation will cause the home to be considered a rental property and a business.
- Property is used by the owner for more than 14 days or 10% of the total days the property was rented out. The property will be considered a residence within these parameters.
It’s important to consult with real estate and tax professionals if you choose to rent out your vacation home. You will want to make sure you are aware of the benefits as well as the risks, and plan accordingly.
If you are in the market to purchase a new vacation condo or property, we would be glad to help you. Be sure to grab our free whitepaper, Myrtle Beach Real Estate: 5 Things You Should Know, for insight and information on purchasing a property in the Myrtle Beach and Grand Strand area.
