What Can We Expect this Year in the Grand Strand?

There are many great Myrtle Beach area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (843) 654-1212 for a FREE home buying or selling consultation to answer any of your real estate questions. 

Welcome to 2015! As we begin the new year along the Grand Strand, we wanted to give you a forecast on what we anticipate the real estate market will be bringing us in this coming year. 


After talking to a lot of home builders, appraisers, and top producers, the consensus is that we will trek along the same path in 2015 as we did in 2014. This means continued growth in both the single family home and condo markets. We expect to see low inventory for another few months until spring rolls around, along with a steady 4 or 5% appreciation.


In the spring, we predict days on market to continue to be around 5-6 months. Inventory will definitely rise, but so will demand. We're predicting a fairly active market, so there will be a lot of options for buyers to choose from. 

Thanks again for checking out our blog. If you've got any specific questions about real estate or your property, be sure to give us a call or send us an email. We can't wait to hear from you!

Today, we want to discuss the dangers of overpricing your home

There are many great Myrtle Beach area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (843) 654-1212 for a FREE home buying or selling consultation to answer any of your real estate questions. 

Today, we want to discuss the dangers of overpricing your home 

When you list your home and ask for more money than it's worth, no one will take a look at it. When you look at the $600,000-$850,000 price range last month, only seven homes sold out of a supply of 300! We guarantee the seven homes that sold were priced at a fair market value. The homes that sit on the market for a long period of time are asking for too much money.

It's critical to know the market statistics and where your home needs to be positioned so you can price it correctly. As a buyer, on the other hand, you also need to do your market research. If you want to get your dream home, you need to make an offer that's fair. It's no longer 2010, where buyers were able to get up to 20% below list price. You need to be educated enough to know when a lowball offer is appropriate.

If you're selling, especially in the high-end market, you need to take every offer seriously. Buyers know they have a lot to choose from, as more than 250 homes in the high-end market failed to sell last year alone! Often times, buyers will throw a number out to try to get a reaction. You can either make a small counter to show that you're open to working with them, or go back to the buyer and tell them you're serious about selling, but you need a more serious offer before considering a counter offer. We encourage you to make a counter offer, because there just aren't many buyers in the high end-market right now.

Thanks for stopping by our blog. We hope you found this information helpful. If you have any questions or topics you would like us to discuss in a future, please give us a call or shoot us an email. We would love to hear from you!

Let Sellers Know You're Serious with a Pre-Approval from the Bank

 

The Importance of Getting Pre-Approved for a Mortgage

Today I'll be talking about an important topic for buyers, and give three reasons why you need to be pre-approved if you're planning to buy in Myrtle Beach or the Grand Strand.

1. Knowing What You Can Afford: You need to know how much you can buy before you start looking. This can avoid heartbreak and setbacks that are unnecessary in the buying process. If you know how much you can buy, it can also help to pinpoint an area for you to buy a home in.
2. It Can Give You Leverage: Most of the top agents that I work with will not even let our sellers sign a contract with a buyer that does not have a pre-approval letter from the bank. It doesn't make sense to do business with someone who may not be able to pay for a property. However, if you are pre-approved, you will stand out in the eyes of the seller and will be much more likely to land the property that you want.
3. The Market is Competitive: Our real estate market here in the Grand Strand and Myrtle Beach is very competitive right now, and there are a lot of properties available. However, I believe that 80% of the buyers are competing for 20% of the properties. There are lots of properties, but consumers only shop around for the best ones. Even in a market with lots of inventory, there is still a lot of competition, and you will need to stand out from the crowd with a letter of approval.

So, what is the difference between being pre-qualified and pre-approved?

If you're a seller, you should pay attention because when a buyer sends you these documents you should know the difference between them. A pre-approval is when a lender pulls the credit of the borrower, gets a social security number, and will probably also look in to your credit history. Pre-qualifications are only statements from banks that indicate how much you might qualify for, and are not indicative of your ability or financial readiness to buy a home. If you're selling, you will want to see a letter of pre-approval, and not just a letter of qualification. 

So, if you need any help finding property in Myrtle Beach or the Grand Strand, then please feel free to contact me and I would be very happy to assist you with all of your real estate needs. You can call me at (843) 251-2693 or email me atgreg@gregsisson.com

3 Reasons to Sell During the Holidays

Welcome back to my video blog. The holidays are here and a lot of people have been asking whether now is a good time to sell or not. I get this question every year and my response is always the same.

Yes. List your home now. Why?

1. Inventory is low right now - There are fewer homes on the market right now and that means less competition for you. Less competition means you can get a better price for your home.

2. Buyers are more serious - Yes, there may be fewer buyers on the market, but the quality of buyer is much better. They want to buy a house, they aren’t just window shopping.

3. You can restrict showings - You may be worried that showings will interfere with your holiday plans, but we can restrict your showings to times that work best for you.

These are just a few reasons why you should list your home now. Give me a call today and we can talk about your home and what’s best for you.

Thanks for watching and have a great Thanksgiving.

Myrtle Beach Real Estate Market Update Fall 2013

Welcome back to my blog; thanks for joining me! Today I wanted to talk about what’s going on in our market and what we can expect to see in the future.

Now I can’t predict the future, but I do have some information that could shed light on what’s to come. Just last week I got back from a real estate conference in Miami Beach.

South Florida has one of the hottest markets in the country right now. They have virtually no inventory. Properties sell almost immediately with multiple offers. This is great news for our market! Why?

I’ve found that we typically trail the South Florida market by about 18 months. In 2003 and 2004, their market began to heat up. In 2005 and 2006, we can began to heat up. 

While we might not see the international buyers that Miami does, I am encouraged by its active market!

Right now we have a low inventory, but the Wall Street Journal recently published an article stating 9 of the top 30 national markets have seen an increase in inventory. That means more competition if you’re selling.

If you want to know how much your home is worth in today’s market, give me a call!

Should You Sell Your Condo?

Is it Time to Sell Your Condo?

Hey, guys. Welcome back to my video blog!

Recently, I had a friend ask me whether he should sell his condo to move into a single-family home.

This is an interesting question. The local condo market here has been very flat, lately. Homes, though, have been appreciating. 

So, if you are thinking about selling your condo to move into a home, do it quickly so you earn appreciation on your new home.

If you are thinking about selling your home and downsizing to a condo, try and wait a little longer so you can add appreciation to your home and get more money for your sale.

If you have any more questions about appreciation or where our market is going, please don’t hesitate to give me a call!

Is Fall a Good Time to Sell?

Welcome back to my video blog! I can’t believe summer is almost over!

With fall right around the corner, a lot of people have been asking me if the fall months are a good time to sell.

That’s an interesting question. The time to sell is less seasonal now and more about market conditions. What does this mean?

In the fall, there are fewer showings per contract. Buyers looking during the summer months are very different than buyers in the fall. In June, July and August there are a lot of people on vacation and they are viewing homes with this emotional charge; rarely, though, do they actually purchase a home.

During the fall, however, buyers are more strategic. They have an actual plan to view and buy a home. So, while the summer has more activity, the net sales of both seasons are nearly the same.

So, yes, fall is a good time to sell, but it very much also depends on your situation. You need to look at the market conditions.

If you have a desire to sell, call me at 843.251.2693 or email me at greg@gregsisson.com I can do a market analysis and we can create a plan that is best for you based on your situation.

Mid-Year Myrtle Beach Market Update 2013

If you are thinking of selling your home, click here for our Free Home Value Report. 

If you are interested in buying a home, click here to enjoy the Myrtle Beach-area Full Home Search. 

Hello and welcome back to my Myrtle Beach real estate video blog where I am bringing you relevant topics about our local market. Thanks, as always, for joining us!

I’m asked all the time how the market is doing. When asked that, it’s common for agents to attach their personal production to the state of the market. The two, however, aren’t necessarily direct reflections of each other, though. Just like life, there are ups and downs in businesses that don’t always represent what is going on in the market as a whole.

So today I wanted to give you some statistical information and recap these past six months of 2013 and compare them to the first six months of 2012. Let’s start with single family homes. The number of units sold from January through June of 2013 was up 16% from last year and the sales price was up 4.5%.

Now the next area is why it’s good not to attach opinion. I thought the price of condominiums would have increased; however, data shows prices remained flat. The number of units sold was up by 5% while the inventory has decreased by 11%. So there are quite a few less condos on the market this year than there were last.

Distressed sales are down by 24% which is great. There is still a tremendous amount of inventory, over 3,000 lots for sale! In the first six months of this year, 686 lots sold! Here’s the weird part, that’s the exact same number of lots that sold in the first six months of 2012.

So, in a nutshell, you have a stable market. I’m very excited! If you’re a buyer, it’s time. If you’re selling, take advantage of low inventory; interest rates have crept up and buyers are feeling a sense of urgency. So, give me a call at 843.251.2693 or send me an email greg@gregsisson.com I’d be more than happy to help you get started with your next real estate move. These last six months of 2013 are going to be great!

How Will Rising Interest Rates Affect the Market?

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Lately, I have been hearing the same question: how will rising interest rates affect the market? Interest rates have crept up in the past 30 days from a little below 4% to about 4.5% now. Because of this, there is a great sense of urgency for buyers. They want to avoid the possibility of paying a higher interest rate if they wait. This is great news for sellers on the market now.

If interest rates increase to 5%, the market will slow down a bit, but with current interest rates, buyers are ready to purchase your home. If you have any real estate questions or are looking to buy or sell, please don’t hesitate to call or email me.

How to Take the Uncertainty Out of the Transition

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Brightwater Living is an independent senior living retirement community in the heart of Myrtle Beach. I met with Barbara Gans from Brightwater because there are so many questions on how the transition of moving from a home to a facility like Brightwater transpires.

According to Barbara, interested parties should look at as many independent living communities as possible. When you visit, there are many questions you should ask. We’ll look at three key ones. How do you like the community? Can you afford it and can you afford not to move to in? What about the “what ifs?”; what’s available if you need specialized care? Here’s a summary of the advice Barbara shared.

Question 1:  How does the community make you feel?

The best way you can figure this out is by experiencing the environment. You can do a tour, stay in a guest suite, participate in activities and enjoy meals there to see if you want to truly explore it. The best things you should look for you can’t taste and see. It all comes down to how the environment makes you feel. 

Question 2:  How much does it cost and can you afford it? 

Get all the facts and figures. To do so, ask lots of questions. Who owns the property? How long have they been in business? How are they licensed by the state? Ask for occupancy agreement templates to share with financial advisors, attorneys and family members. What are the home prices? What is the financial model? For example, there are many, such as life care, equity, and deed-based models so it’s very important to get all that clarified. Does the family have any liability when you leave the community? Make sure your salesperson is transparent. And, finally, ask for the complete cost analysis upfront. When you take into account all the services, you may be pleasantly surprised because it may be less than it is to maintain your own home.

Question 3:  What about the what-ifs?

What if you need a higher level of care? Be sure to ask about assisted living, memory care, skilled nursing, long-term care and physical therapy. What do these areas cost? Can you use long-term care insurance and how does Medicare factor in? Tour these areas, even if you don’t need those areas now. At Brightwater we offer a full continuum of care.  

To reach Barbara at Brightwater, please call (843) 903-8300. 

Give me a call so I can tell you where to be positioned and how to be successful in this market. Please contact me at (843) 251-2693 or email us at greg@gregsisson.com. We’d be happy to assist you. 

How to Use a 1031 Exchange to Save a Bundle When Buying Investments

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If you're a real estate investor or thinking of becoming one, then you can definitely take advantage of this law, and I recommend you do so.

Basically, the "1031" allows you to sell one property and buy another without incurring capital gains taxes.
You simply have to re-invest all your profits into the next property (or properties) within a specific timeline (described later).

However, the property must be “qualifying property.” This is property held for investment purposes or used in a taxpayer's trade or business.

Investment property includes real estate, improved or unimproved, held for investment or income producing purposes.

Be aware that real estate must be replaced with like-kind real estate. This means that “like-kind replacement property” can be any improved or unimproved real estate held for income, investment or business use.

Here are some examples:
·    Improved real estate can be replaced with unimproved real estate and vice versa.
·    A 100% interest can be exchanged for an undivided percentage interest with multiple owners and vice-versa.
·    One property can be exchanged for two or more properties.
·    Two or more properties can be exchanged for one replacement property.
·    A duplex can be exchanged for a fourplex.
·    Investment property can be exchanged for business property and vice versa.

Be Aware: Your personal residence can't be exchanged for income property, and income or investment property cannot be exchanged for a personal residence in you'll reside!

What Are the Types of 1031 Tax Deferred Exchanges?

There are three types of 1031 tax deferred exchanges that can take place:

- Straight exchanges—two parties trade properties of equal or approximate value. This is the simplest exchange.

- Multi-party exchanges—this involves three or more parties buying, selling, or exchanging properties. Don't attempt these exchanges without the aid of a tax professional; they tend to be very complex.

- Delayed exchanges—this exchange allows the sale of the relinquished property and the buying of the replacement property to occur at different times as long as stringent rules are followed. This is the exchange most often used.

What's the Advantage of the 1031 in Terms of Taxes?

As the law's title indicates, the capital gains tax is deferred, but not eliminated.

However deferral is a great way to leverage small real estate holdings into larger ones!

Since you can postpone gains, you're able to use a tax-deferred exchange strategy to transfer equity to a larger property, all without paying taxes!

Another advantage is that there’s no limit on exchanges. This means you can make as many exchanges as you want!

So, over the course of your lifetime, you can keep growing income and appreciation by adding new properties without having to pay the capital gains tax!

If you specialize in buying and renovating properties and want to keep reinvesting your profits into larger properties, then this strategy is especially attractive.

Note: If you don’t keep reinvesting, you risk being classified as a real estate dealer by the IRS and will not be able to participate in exchanges.

What Are the Basic 1031 Qualification Rules?

There are some basic rules that must be followed in order to qualify for a 1031 exchange. These include the following:

·    The properties to be exchanged must be located in the United States. Note: You can exchange foreign property for foreign property and domestic for domestic. However, you can’t mix these exchanges together.
·    You must trade only like-kind real estate.
·    An exchange must be made that’s equal to or greater in both value and equity. Any cash or debt relief received above this amount is considered “boot” and is taxable.
·    The like-kind property must be identified within 45 days of the closing on the initial property.
·    All proceeds from the initial sale must be turned over to a "qualified intermediary" (also called a QI, facilitator, exchanger, etc.) who is the person or company playing the role of middleman.
·    Any of the proceeds not under the control of the middleman are subject to taxation.

The middleman holds the funds from the initial property in escrow until such time as the closing on the second property occurs.

The middleman also assists the owner with the preparation of paperwork and other services to ensure the transaction progresses in a smooth manner.

The closing on the second property must take place within 180 days following the close on the first property.

Wow, as you can tell, this is pretty complex subject and can't completely covered here! But if you're an investor or plan to be one, I hope I whetted your appetite for this subject. To learn more, contact me at insert link.

Win an iPad Mini!

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Interested in winning an iPad Mini? Sign up for our Market Snapshot to become eligible for a drawing on an iPad Mini on May 1st. Market Snapshot is an online tool that sends you monthly reports of properties sold and listed in your neighborhood. Just go to www.gregsisson.com/snapshot to enter.

If you have any real estate questions or needs, please feel free to call us at (843) 251-2693 or email us at Greg@GregSisson.com. Thanks!

Grand Strand Real Estate Market Update – April 2013 vs. April 2012

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We’re seeing a fairly steady yet slow increase in average sale price and sales while the number of days remains close year over year and inventory levels also only slightly declined. In terms of distressed sales, both in the single-family and condo categories, though we are seeing some improvement there is still a fair amount of inventory on hand that we need to clear through before we can see a strong comeback.

All in all, our numbers and outlook is improving though it may be taking longer than as reported in some other pockets of the nation during this very promising housing recovery period. Here’s a look at our numbers as they relate to the first quarter of 2013 compared to the same period in 2012.

Single-Family Home Sales Up, Avg. Price Remains Fairly Flat, Homes Selling Slightly Faster

Right now, we are reporting a fairly significant increase year over year in the number of single-family homes sold through the end of first quarter. At 1,144 homes sold this year versus 1,007 sold in 2012 we saw a 12% jump in single-family home sales.

In terms of prices, there are two ways to examine price trends; first by looking at the average sales price and second, considering the median sales price. Looking at the latter gives us a better indicator of where the growth in our marketplace lies. As of April 1, 2013 our average sale price was $205,000 compared to $203,000 the previous year, marking a nearly flat 1% positive change. The median sales price is $160,000 for the first quarter of this year and last, meaning that half the homes were sold above that price and the other half sold fell below the $160,000 mark.

The number of days on market fell only slightly from 194 last year in the first quarter to 182 during the same time in 2013, pointing to a very slight positive change on market for single-family homes.

Fewer Homes On-Hand, Distressed Properties Still Dominate Nearly One Third of Inventory

Looking at inventory levels in the Grand Strand real estate market, we reported a slight decrease in the number of homes available from 4,288 as of the first of April in 2012 versus 4,034 homes on hand at the same time this year, indicating a 6% decline and a 10-month supply of inventory.

Distressed sales have slowly begun to clear away though there are a significant number of homes to be sold yet with 28% of our first quarter inventory this year being distressed properties. This compares very closely to last year’s 28% of closings in the distressed property category.

Condominium Sales On the Rise, Average Price Up Slightly, Condos Selling Faster
The number of condo units sold last year through the first quarter was 845 as compared to the 8.5% jump indicated by 924 units sold this year. Though not as much of an increase, we saw a positive change by 4.5% in the average sale price of condos with last year’s average at $126,700 to the first quarter of 2013 average sale price at $132,000.  Median sales price also climbed a modest 5% year over year, going from $100,000 to $105,000 respectively.

The total days on market changed a fair amount this year going from 186 to 127 for the first three months of the year.

Inventory Steadily Clearing, Distressed Sales Continue to Dominate Condo Market

The number of available condos went from 3,963 in 2012 to 3,383 by the end of the first quarter this year, representing a 15% decline in condo inventory. The hardest hit segment in our marketplace during the market crash and throughout our recovery has been condos, highlighted in the percentage of distressed sale closings that represent our market. At 25% of closings in 2013 and 35% of closings the previous year, distressed sales still hold a significant impact on our market.

Land Sales Up a Small Amount, Prices and Days On Market Remain Fairly Flat

In terms of land sales, we have seen a huge surge in the number of building permits obtained during the past few years. Looking at the first quarter of 2013 for the number of lots sold, however, we were at 265 as opposed to 271 the year prior. The average sales price saw a very modest increase from $78,000 last year to $83,000 in 2013 through the first quarter. Distressed sales were down from 42% the year before to 35% by April 1 of this year. Time on market has remained flat with just a two-day change year over year.
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These figures indicate slight improvement in some areas and a stronger positive trend in others though the overall consensus is that we have a while to go before we can expect to see a significant change. Our inventory levels are still fairly high and the number of distressed properties continues to dominate a good portion of our market but we’re moving in the right direction. We expect to see a slow yet steady improvement over the next 18 to 24 months.

For a customized look at your property as it relates to today’s marketplace or if you’d like our assistance in finding the perfect home here in the Grand Strand, contact us today!

greg@gregsisson.com
843-251-2693

Grand Strand Real Estate Market Update – March 2013

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A consistent factor in nearly all the markets across the nation since late 2007 has been inventory and in many cases – too much of it. Whether this meant a large number of distressed sales, homes that just were not selling enough or buyers lacking confidence to buy – much of America went through a real estate downturn.

Distressed Property Inventory Lowest in Several Years

Today, that has changed. Not only is it a very active marketplace but also we are seeing a complete shift in trends whereas sellers now have the upper hand in lower to mid-level price ranges.

Consider this: just two years ago as much as forty percent of our available inventory was made up of short sales and bank owned properties. Today’s distressed property inventory has significantly reduced. Of our present-day 4,000 or so homes on the market right now, only 4% of them are bank owned foreclosures, which translates to about currently active 180 listings. For condos that number is even lower at just 3.3% of the approximate 3,500 available condos for sale being distressed properties.

Multiple Offers Are Artificially Inflating Prices

What was once very much a buyer-controlled marketplace has complete turned the tables – even for distressed properties. Buyers are up against a lot of competition, particularly in the $200,000 and under price bracket. It is necessary to be prepared to pay close to asking price for many of these homes given the high occurrence of multiple offer situations these days.

As demand continues to rise and inventory keeps dwindling downward buyers will be facing more and more of these situations where prices will be artificially inflated. So far the Fed has not done much to change interest rates and the expectation is that they will last at least a while longer. With fewer distressed properties competing with standard sales now is a great time for buyers to get in on the action.

Sellers Market for Homes Priced $200k and Under

With all the pent up demand from after the Presidential election and then the Fiscal Cliff issue – now there is a lot more consumer confidence and much more buyer activity in the marketplace. If you have been on the fence about selling – this is the time to jump off and consider listing your home before mainstream spring market sellers begin to list.
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As always, we provide a market snapshot on our video blog but for a customized look at your own real estate outlook and goals, I invite you to visit us! We look forward to helping you achieve your goals!

Thinking of Selling Your Home?

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As your real estate resource center, we’re committed to keeping you up to date on changes in the market—and what they mean to you. I’m constantly talking to real estate agents, asking them questions to try to take the pulse of what they’re hearing from their buyers. In the past week, I’m hearing repeatedly and with a sense of frustration that there’s no inventory—nothing to show buyers, but what they’re really saying is there are no quality listings priced correctly to show the buyers. In this blog I’ll tell you how this perception can help you.

There are lots of homes on the market.  In fact, the MLS statistics show that single-family homes are at a 12-month supply, which means that if a house is put on the market it would take on average 12 months to sell.  Only 300 out of the 3,800 in inventory are selling a month. On the condo side, only 250 out of 3,200 are selling a month, which amounts to a 12.5 month supply. As you can see, the inventory is there.  We’re noticing, however, a gap between what’s out there and good solid inventory in good condition that’s priced correctly.  

What does this mean to you?  If you’re thinking of selling, we’re at the beginning of the selling market.  The perception of the agents is that there’s no inventory, which is creating a little buzz of “We need to buy!”   There is inventory, but quality homes that are priced correctly have diminished. Distressed property is also down at 8%.  If you’re thinking about selling, don’t wait any longer.

Give me a call so I can tell you where to be positioned and how to be successful in this market. Please contact me at (843) 251-2693. We’d be happy to assist you.

Packaging Your Home With Paint – The Secret to Selling Success

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There’s so much talk these days about staging a home when you think about selling. And there is a lot of merit to that. However, it does involve an investment and some homes simply don’t need full staging before placing them on the market.

We talked to Simon Phillips, President of AHG Professional Painting here in Myrtle Beach and he shared his secrets with us as to how he and his team get a home ready to sell. The beauty of this is that it doesn’t have to cost a lot. In fact, paint is one of the most effective, inexpensive ways to maximize improvement on the home.

What Colors Should Be Used to Paint Walls?

Phillips advises against using anything too bright or bold because buyers need to be able to imagine their own tastes in the house. A bright red or a glaring purple could easily distract a prospective buyer from seeing the house for what it really is. He suggests choosing neutral colors but that doesn’t mean you need to select only whites and variations of white. You can safely choose a light hue of a warm beige, light yellows and shades of taupe.

How Should Wallpaper Be Handled?

The quick answer is: it depends. Once again, the idea is to demonstrate that your house can become someone else’s home. Since tastes vary so much from one person to the next, the most important thing is to pay attention to neutrality while making sure everything is up to date.

If the wallpaper is outdated or in bad condition, it should be removed. However if it is fairly new, has a neutral look to it and is works with the rest of your home’s décor – you may want to leave it up. Consider an allowance to buyers for wallpaper removal if it becomes a deal breaker. Another important tip that Phillips shares is to use low sheen paint after wallpaper removal. Anything with gloss in it will highlight dents and dings in the wall that are typical after wallpaper comes down.

What Areas of the Exterior of a Home Be Spruced Up With Paint?

As they say, first impressions last a long time. And the last thing you want is for a buyer to drive up only to be put off with a lackluster exterior. There are several things Phillips suggests you can do to prepare your home for sale. Starting with a fresh coat of paint on the mailbox and/or its post.

Moving toward the front door, keep in mind that buyers will be judging the rest of the home on their first impression. In fact, they say the first 8 seconds is all it takes for a buyer to lose interest. If your front door needs some pick-me-up or if the paint seems old – repaint it.

Other areas on the home’s exterior that will leave a strong impression are decks and fencing as well as additional structures that may exist on the property. Repaint or stain decks to liven up the backyard and entice buyers into wanting that extra outdoor living space.

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Keep in mind that next to location and pricing – the condition of your home lends the most impact on whether or not it will sell well. For more information and tips on how you can get your house ready, contact us today. To reach Simon Phillips and his team, visit their website at www.PaintingMyrtleBeach.com.

Introducing The Hoffman Group in Surfside Garden City, Joining Forces With Scalise Realty

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For years we’ve brought you the highest level of service when it comes to all your real estate needs here in the Grand Strand. And today, with great pleasure and lots of excitement – we announce our partnership with Scalise Realty. Having moved to a new location that was the office of the former Scalise Realty, we are now located on Surfside Beach in Garden City.

Together we will be called The Hoffman Group and you will receive the same commitment to high-end service, expertise and years of combined knowledge and experience. Our new location is ideally situated along the gorgeous stretch of beach that attracts many homebuyers and investors. We invite you come by to visit us in this fantastic area!

Grand Strand Market Snapshot for December 2012

Here’s a look at the latest statistics in our local real estate marketplace:

Merry Christmas and Warm Sisson’s Greetings!

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To all our cherished friends, neighbors, family and clients – we are so proud to have been able to work with you and be a part of your lives! As we end this year and turn to the exciting time and events that 2013 holds, we just wanted to take a moment to thank you for all that you bring to our lives.

We have some really great plans in the coming year to bring more success to all your real estate endeavors. And with each transaction that makes it to the closing table in the coming months and years ahead – we know that there will continue to be new and exciting things to follow for all of us.

On behalf of the entire group – Merry Christmas, Sisson’s Greetings, Peace and Joy!

Post-Election Grand Strand Real Estate Market Update

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Now that the dust has settled, everything is coming back to normal and campaign signs are starting to come down – it might be the time for you to put a different kind of sign in your yard – a For Sale sign.

The truth is that many residents of the Grand Strand area (as in much of the nation) had been waiting and watching the marketplace, with the expectation that our election outcome may have an impact on the real estate market.

Today, I’d like to share with you some key statistics that will indeed help you to decide whether this is the perfect time to buy or sell your home. One of the most effective ways to see where our market is headed is by looking at the trends of the recent past. So looking at the time around the last presidential election, you will see there has been much improvement in our marketplace.

Inventory Levels Have Declined Significantly

In the fall of 2009 we had 6,200 available homes on the market in October for a total of twenty-five months of supply. Just 247 homes had sold in October of 2009. Jumping ahead to the same time frame this year and the number of available homes on the market is 33% less than just three years prior at just 4,000 whereas 396 homes were sold in October 2012. The number of months’ inventory this year in October is just ten months.

The Number of Distressed Properties Have Steadily Declined

As we move further and further away from the effects of our housing market crash from 2007, there are fewer distressed properties on the market. Taking a look at just 18 months ago, 33% of all the condos on the market were distressed properties (either short sales or foreclosures) and 25% of single-family homes then were distressed properties.
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Moving ahead, we can expect much continued improvement in these and other areas of our real estate market trends. Prices are bottomed out right now, making it an excellent time to buy – especially when you combine low prices with all time low interest rates in the mid three percent range or lower for shorter termed mortgages. Buyers are enjoying easier lending practices in place for many lenders and sellers are enjoying all the pent up demand that was inevitable with the presidential election. Now is a great time to jump off the fence!

The election has come and gone but the real estate market is still very much hustling and bustling with activity. If you would like to explore buying or selling you home, I invite you to meet with us so we can help you achieve your real estate goals today!

Need a Real Estate Agent Referral? We can Help!

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Referrals happen in the real estate field every day. Because of our extensive connections, we can introduce you, a friend or a family member to top agents throughout the country. We will work with these agents to develop the best home-buying strategy for you. This week we are in Florida for the Mike Ferry Superstar Retreat, connecting with the top agents in the world. There are agents from Canada, Australia, Italy and all across the US to discuss different marketing strategies and how we can better our selves and our service.

Our promise? To get our sellers’ homes sold for the most amount of money in the least amount of time.

Because the real estate market is always evolving, you need to work with real estate agents who are willing to continually educate themselves about the marketplace. That’s what we do, and we recommend only real estate agents who do the same.

So if you or someone you know has a real estate need anywhere in the country, call us at 843-390-8900  Or, send me an email at greg@gregsisson.com. We will be happy to work with you!