Good Day to all,
I wanted to take a moment and reach out to All potential Investors and Home Buyers looking up & down the Grand Strand Area. Some of you may have been watching the market with close observation over the past several months; watching for that moment to get serious in acquiring your beautiful property along the Coastal Carolinas.
Recent activity has spiked a great deal this Month in April. In just the past couple of weeks, I have seen properties in North Myrtle Beach, SC sell for huge discounts! Among these are both Direct Oceanfront and Second Row Single family Homes/Duplexes and Triplexes. Below is a link to some current SOLDS that have taking place in the Cherry Grove section of North Myrtle Beach, SC. 
With these current SOLDS, price comparables for other existing properties on the market or soon to come on the Market have dropped dramatically!! Oceanfront prices per SqFt have fallen to at least $244.44 and Second Row prices have dropped to $133.33. If you have been looking for a Oceanfront/Second Row or so Beach Property, just take the Heated SqFt and multiply by my numbers above. You will see, these are huge price drops!!
I'm seeing amazing buying opportunities happening all around. Other people are garnering great deals and beautiful properties up and down the Beach; are you missing the Boat?? If you have been wanting to get that place somewhere along the Grand Strand, now would be the time to get into mix. Don't become one those people back during 2005-06 that said " Wow, I could have bought that place for a 100-200K less a year ago"
If you have questions or concerns, please feel free to call on me anytime. I would love the opportunity to discuss matters in more detail with anyone who has interest.
CURRENT SOLDS IN CHERRY GROVE, NORTH MYRTLE BEACH, SC
The Bluffs on the Waterway is a gated, waterway community located in the Carolina Forest section of Myrtle Beach, SC.Tucked in the corner between River Oaks Dr and the Intercoastal Waterway and close to Robert Grissom Parkway The Bluffs on the Waterway proves itself to be highly convenient to just about everything the Grand Strand has to offer. In less than 20 Minutes, you can find yourself either at the Beach,one of the many major shopping areas ( Coastal Grand Mall, Broadway at the Beach, Tanger Outlet Mall) and many more!!
Included with this beautiful community ,are plenty of on site ammenties with HOA fees only runining about $57.00 per month,
Pulling some current statistics, you will see that The Bluffs on the Waterway is an opportunity to garner yourself a beautiflly custom home within a private gated community that sits right on the Intercoastal Waterway at some amazing discounted prices! But hey, don't take my word for it, come see for yourself!!
The Bluffs on the Waterway Summary Statistics
High
Low
Average
Median
List Price:
$519,000
$285,000
$396,740
$399,900
Sold Price:
$374,000
$286,001
$341,667
$365,000
| The Bluffs on the Waterway : Pending Sales |
| Area | Asking Price | DOM | Orig Price | Total SQFT | DOM | LP |
| Carolina Forest | $399,900 | $599,900 | $399,900 | |||
| Carolina Forest | $519,000 | $689,000 | $519,000 | |||
| Avg | Avg | |||||
| $459,450 |
| The Bluffs on the Waterway -Recent 4 Month Sold |
| Area | Price | DOM | Orig Price | Total SQFT | DOM | ListPrice | $/Total SQFT | SoldPrice | $/Total SQFT |
| Carolina Forest | $286,001 | 181 | $369,900 | 2300 | 181 | $285,000 | $123.91 | $286,001 | $124.35 |
| Carolina Forest | $365,000 | 63 | $379,900 | 5400 | 63 | $379,900 | $70.35 | $365,000 | $67.59 |
| Carolina Forest | $374,000 | 232 | $489,000 | 4100 | 232 | $399,900 | $97.54 | $374,000 | $91.22 |
| Avg | Avg | Avg | Avg | Avg | |||||
| 158 | $354,933 | $97 | $341,667 | $94 |
What are some things we can tell buyers to convince them to buy?
That was the question that was posted not to long ago on Trulia's website by an anonymous person. It was placed in the section of Market Conditions for Charleston, SC. The full question went like this:
"was thinking about telling them stuff like (1) interest rates are low (2) inventory is high so there is great selection and (3) that RE never goes down in value. Not sure how to get around the fact that prices are going down, the economy is terrible and nothing is selling. Any ideas would be helpful."
One Agent answered simply along the lines of stating that if the buyers happen to be currently renting, they could stop paying thier Landlords mortgage and start paying on thier own and acquire equity in the new property.
I thought this was a decent enough answer, but just a tad generic!
My Answer went a little something like this:
"Have you considered the idea of expressing that Prices on most homes and properties around here have reverted back to 2001-03. Prices. That with the influx of Short-sales, REOs ( Bank Owned ) properties, prices are dropping to amazing points where it's a huge Buying opportunity?
Nobody is going to be able to predict how much further prices will continue to fall or if they continue to fall at all.
Yes, your statements of "Interest Rates at an all-time low" "inventory is High" are both true and provide an opportunity! But, the comment on " RE never goes down in value" is just plan silly!! This economic situation we're all facing is new and unique. We have never really seen an RE market like this and because of that, it makes it impossible to predict which way it will continue to go.
My strategy is simplistic: Be honest, Be current and more importantly, Be helpful. Nobody wants a " Used Car Salesman" The new consumer is Educated and in most cases, more up-to-date then most of the Real Estate Agents out there now!! The concept with any investment is simple, buy Low and Sell High..... So, with that being said, if you have buyers that have interest but are sitting on the fence; First quiz them and see if buying is even financial possibility for them and understand why they want to buy right now. Second, buying an investment on a downturn is the best time to buy, period!! You already know that prices have dropped and may continue to drop. If you purchase your property while the market is down, you are basically insuring the fact that when the market turns around ( and it will !!! ) your purchase will garner a nice return, especially if you are buying that property at a price that was dated almost 10 years ago!!
If my logic here is skewed, by all means share with me if and where I'm wrong.... Here is my advise, feel free to either take it or flush it. It is yours to do with however you please!!"
I feel that I was pretty much on the Money with my statement, what do you think? How would you have answered the question?? Please share and discuss!!
UPDATED.......UPDATED....
If you have had the pleasure of stumbling upon my blog here, lately. Please take the time to see the correspondence developing between me and this ( anonymous ) person. Absolutely hilarious:
 |
|
|
Coastal Carolina Real Estate: Oceanfront or Oceanside Communities: Condos or Residential Homes: Short Sales or Foreclosures
How does a culinary degree from Johnson & Wales University and fifteen years in the Restaurant business working with such top notch establishments in the Charleston area such as "The Kiawah Island Club" on Kiawah Island, "Blossoms Cafe" and "Oak Steakhouse" prepare a person for the Real Estate Business?
"Both are service industries and the income derived is directly proportional to your ability to deliver personal Results", muses Thomas with his usual, warm smile. Having invested in Real Estate at a young age, Thomas knows first hand the value of our business.
With an easy disposition, and a keen ability to "uncover" good investment vehicles, Thomas has proven to be a "natural" as a Real Estate Counselor. Never mind that his own parents own a long string of McDonald's Restaurants in Mississippi and are quite adept at "turning real estate" as part of "just good business practice"...
As your Agent, I will gladly help you attain your financial goals by doing what myself and my family have done for years: invest in real estate. I'm not here to "Sell" you on anything. I consider myself a Consultant! Think of it this way: See me as an Adviser. You are the "King or Queen" of your properties and my role is to Advise you on the best way to acquire more or liberate existing My combined experience in two industries that are solely "Serviced Oriented" gives me a clear advantage over other Realtors.
Whether your Real Estate needs are in the Charleston SC area or throughout the Myrtle Beach SC area, contact me and let's discuss my proven methods to find you the best value on a property or utilize our extensive marketing strategies that can get your property Sold!
“I have worked with Thomas with a number of clients and he is very professional in how he deals with customers and his business partners, as well as very knowledgeable in his industry. He is always a pleasure to work with.” June 21, 2009
Top qualities: Great Results, Personable, Good Value
“Thomas is great real estate agent who will take the time to learn what type investment you are looking for and then is persistent enough to find it. Thomas is very personable and makes himself available to address all of your questions and concerns.” June 22, 2009
“Thomas is the man! He will make sure you get the best possible deal. He always looks out for his clients. He makes sure that the clients get the best of what he has to offer. I have done many termite inspections for Thomas at Buyers Choice.” June 23, 2009
Top qualities: Great Results, Personable, High Integrity
“Thomas is a person that when he says somthing he dose it, He is great and fun to work with, he is very turthful and I can belive in him.” June 24, 2009
Top qualities: Great Results, Expert, High Integrity
“I very highly recommend Thomas Cunningham as a real estate agent. I have used Thomas and his agency to both sell a property for me and to assist me in buying a property. Thomas goes above and beyond what is normally expected of an agent. Every silly little thing I had a question about was handled by Thomas in a very professional manner. He was there from the beginning to the end and even after that. I would not hesitate to use him again. He really goes the extra mile!” June 24, 2009
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
