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Wendy Hodges

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Real Estate Auctions are you getting a deal?

08-25-09
Wendy Hodges

In the last few weeks, in Myrtle Beach we have been seeing signs for great real estate auctions advertising properties for low, low prices but are these auctions really a steal of a buy. People going into auctions need to realize they are going into just that an auction. While the pretty billboard might have an attractive price, somewhere in fine print it will say that the price in big print is just the starting bid. So you will not get the property for that low of price. Instead you will be fighting with other bargain hunters raising the price every second. Also, don’t think just because you’re at an auction that it doesn’t mean you don’t have to pay a commission. In one recent auction buyers had to pay a 10% premium on the final price. Once you ad this in, it also makes that deal not look so great. In a lot of cases as well the auction is sold “as is” which means you will not be able to do a home inspection to find out any potential problems such as electrical wiring or water damaged. In the market today, there are deals everywhere, and sellers are needing to sell and are willing to work with buyers more and more. Instead of going to an auction for deal and not a property, why not go out with your agent and get a deal on the home of your dreams.

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Are you ready for some Football... Myrtle Beach Scores a Touchdown

08-22-09
Wendy Hodges

The single family housing market has blasted through the rough and tough ofensive line and scored a touchdown with the latest numbers. For the first time in over two years the number of single family homes sold has gone up. The numbers have also gone up 4% from the same time last year. This can only spell good things to come. While there are alot of forclosure deals, and the foreclosure numbers rise about 1.5 million households recived at least one foreclosure-related notice this year. This means that there people are needing to sell and sell now. These people however are not on your forclosure list. So deals are out there to be found. For the sellers out there the buyers are out there looking, are you prepared to accept the offer and make the next month even better?

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Short Sales... are they the best buy?

08-22-09
Wendy Hodges

A short sale allows the homeowner to sell their home for less than the total amount due when a hardship is proven. It will show up on the owners credit report as paid in full for lower than the amount owed, a home can go into a short sales also if the owner, owes more than the current worth of the home. It is the last step before the house goes into foreclosure. Today's market is filled with great deals and people looking to get out of bad situations. Short sales currently make up 15% of the housing market. This Is not a number to be ignored by sellers or buyers. These properties sell for 15-20% less than non distressed properties. Buyers should not be afraid to look at a property under a short sale, investors are not the only ones jumping on short sales in fact 45% of short sales are made by first time home buyers. However if you do get involved in a short sale, you may get a great deal and the home of your dreams but be prepared to play the waiting game it can take 2-3 months to for an offer to receive an answer

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Are you ready for some football. Myrtle Beach Market Scores a Touchdown

08-18-09
Wendy Hodges

The single family housing market has blasted through the rough and tough ofensive line and scored a touchdown with the latest numbers. For the first time in over two years the number of single family homes sold has gone up. The numbers have also gone up 4% from the same time last year. This can only spell good things to come. While there are alot of forclosure deals, and the foreclosure numbers rise about 1.5 million households recived at least one foreclosure-related notice this year. This means that there people are needing to sell and sell now. These people however are not on your forclosure list. So deals are out there to be found. For the sellers out there the buyers are out there looking, are you prepared to accept the offer and make the next month even better?

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North Beach Plantation

07-27-09
Wendy Hodges

Who is ready to enjoy a drink and swim around the North Beach Plantation... the future icon of the east coast? The time is finally here- time to close on the beautiful Atlantis-like building in Myrtle Beach, SC. This is the first building of it's quality to be in Myrtle Beach. Features are great: swim-up bar, outstanding architecture. great location near Barefoot Resort, white-glove spa and Much more!

Aside from the aesthetic appeal of North Beach Plantation and all of its luxuries, the building is the only oceanfront in Myrtle Beach to be HUD approved. This is a key factor in today's market where it's difficult for many buyers to obtain financing.

HUD financing enables buyers to get the lowest rates possible. Typically HUD approved projects are associated with FHA (3.5% down), first-time home buyers, and offer lower interest rates as they have been federally approved.

Purchasers of North Beach can put down as little as 20% but other oceanfront condos require that purchasers put down at least 25% and many times up to 55%. With the strict guidelines for purchasers from banks today, this is a key element in helping put North Beach on the forefront as the most popular building in Myrtle Beach.

There you have it ... North Beach Plantation... icon of Myrtle Beach... not only a beauty but a smart buy!

North Beach Plantation

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