Plantation Lakes Blog!

Sparks are flying. Your imagination has become hot and heavy. It’s true love. You’ve fallen hard–for a Myrtle Beach house!

Buying a Myrtle Beach house is serious business. It’s not only where you’ll be hanging your hat: it’s also a great investment. So when you find the one that’s the total knockout you were hoping for, the excitement can be blissfully overwhelming. But—easy there, partner! Falling in love with a house too soon is a predictably bad idea.

Love at First Sight Can Backfire

Whether you drove by or saw the home on an online listing, it’s all too easy to get stuck on a home’s curb appeal. Exteriors count for a lot, and with more houses in Myrtle Beach than ever being listed online, wise sellers know how to make sure their property looks great from the outside. But beauty that’s skin deep in a Myrtle Beach house isn’t good enough. It’s what is inside—the bones of the place—that can be the difference between a canny investment and one that never quite pans out.
Takeaway: Don’t ever judge a book (or a Myrtle Beach house) by its cover. Wait for a clear-eyed walk-through before you get your hopes up.

Love is Blind–and that’s Not a Good Thing

Okay, so you’ve gotten inside the house, and now you’re borderline obsessed. Crown moldings? Check. A gorgeously remodeled kitchen? Check. There’s one more check to make: it’s time to check your excitement. While it’s A-Okay to grow excited about a home’s features, now you have to double-check: does the property as a whole truly square with your list of must-haves? (That’s the list you were supposed to sit down and create before you started hunting). How’s the square footage? Age? How does the asking price measure up to the comparables in Myrtle Beach? And then, when all else is flashing green lights, how does the physical plant measure up during inspection?
Takeaway: Put the brakes on that passion so you can focus on all the unromantic details.

You Can’t Break Up With a House

Buying a home is a big deal for a reason. You’re undertaking a complex legal process that will bind you to a property—with any and all warts and flaws—for the long haul. Falling in love with a home can put you at a disadvantage during the negotiating and purchasing processes. By surrendering to romance, you make yourself more vulnerable to deals you shouldn’t afford. And you’ll also be twice as devastated if it falls through. Instead of sighing over a house, practice a sense of healthy distance. This is an investment, too!
Takeaway: Remind yourself as often as necessary that falling in love now can hurt you later. Don’t make excuses–you can’t make a bad purchase disappear!

So when is the right time to fall in love with a house? Right after you’ve purchased it! To get started on the right track, give me a call!

If you find your Myrtle Beach rental property without a tenant this fall, it may not take long before you’re tempted to take the first applicant who shows up. Sometimes it doesn’t take much longer to remember why that can be a costly mistake!

Hastily selected tenants can transform your Myrtle Beach rental property from a dependable revenue-producer into a sputtering headache-producer. Troublesome tenants are hard to manage, can cause serious damage to your Myrtle Beach rental—and can be infuriatingly difficult to remove.

Of course, the best solution is to avoid renting to trouble-making tenants in the first place. Whenever your rental property falls vacant, you’ll be much more likely to sign a quality tenant if you follow the basic self-protection procedures:

1. Be Wary of Cash Buyers

A tenant who’s willing to pay cash upfront for months in advance might seem like a walking windfall—after all, doesn’t it seem as if the offer would eliminate a degree of risk? But sometimes cash shouldn’t be king. Experience shows that there is usually a reason why an applicant wants to rent on such seemingly advantageous terms. It may be because they want to distract from a poor rental or credit history, hoping that the cash offer will deter the landlord from asking too many awkward questions. Less likely (but possible) could be that they want to use the property for some illicit purpose—such as storing or manufacturing drugs.

2. Check Employment Records

On your tenant application form, ask for an employer’s name and a point of contact at the workplace. Few employers object, so applicants who are reluctant to provide this information (or who do not have regular employment) will be flashing caution lights. Don’t neglect to follow up on the information: a short, courteous phone call will confirm what the application form says.

3. Credit Record Checks

A credit check will help you to sort ideal tenants from those more likely to have trouble paying on time. A credit check is inexpensive, especially measured against the cost and hassle of reluctant payers. Credit record checks are available through a number of online services (they usually require the applicant’s social security number). But it’s also important to realize that any kind of reference check is only useful if you are researching the right person! Make sure to properly confirm the identity of the person applying for your rental property. Check identities using a government-issued identity document, with photograph, and social security number.

Trouble tenants can, at least in the short term, waste valuable time and effort. You can avoid the whole problem by enlisting a qualified Myrtle Beach property management firm; but if you choose to handle the details yourself, taking these simple precautions will prove well worthwhile.

If you are already a local landlord, or are in the market for a rental property in Myrtle Beach , there are many good prospective investments from which to choose. Give me a call to take a look!

In earlier eras, a would-be Myrtle Beach home buyer had few tools to aid in the task of finding a home that was ‘just right.’ Today, the situation has gotten a good deal easier thanks to a wealth of real estate apps that home buyers simply download onto their mobile devices. There are apps that can help you with everything from finding your dream home (and determining how much you can afford) to learning more about the neighborhood.

Home Buyer Terminology

Every home buyer is inevitably exposed to a welter of technical terms—and some of them have meanings that differ from what you would guess. Trying to decipher the jargon is a challenge you can shortcut with a good app dedicated to the task. Android users can download Relmark’s Glossary Real Estate Terms; iPhone and other Apple devices use Barron’s Dictionary of Real Estate Terms (although, like so many parts of the Apple universe, it’s a bit pricey).

Neighborhood Info

When a home buyer wants truly in-depth information about an area, SiteWise can provide some data that’s not usually provided. This app was actually developed for commercial purposes, but since it gives a complete overview of the demographics of the area around a home, it can provide useful info. Typical data shows the average age of the population, their educational level, average number of children, and how many renters and owners live in the neighborhood.

Space measurements

Before you buy, you want to make sure that the property will accommodate all of your furnishings. Big Blue Pixel’s Photo Measures app makes quick work of memorializing what you find on any walk-through. You to take a picture of each of the rooms, then save the relevant measurements on the photo for later analysis after you get home.

Bottom line

Choosing the right property involves more than just finding the right home. You also need to be sure that you can comfortably afford it when all costs are considered. The highly-rated Home Buying Power app is used by both professionals and consumers to estimate how much a property is likely to cost—now and in the future. You can set the financial calculator to reference the percentage of your income that you want to spend…or target the monthly payment you are looking for.

This is just a handful of the innovative apps which are streamlining the process today’s home buyer in Myrtle Beach experiences. New apps are being introduced almost weekly, so when you find one you like, look for the ‘users also bought’ icons that link to other useful tools. Of course, the most useful of all is your Myrtle Beach real estate expert—so don’t hesitate to give me a call!

If your piece of Myrtle Beach real estate is nobly situated atop a commanding hilltop, you probably won’t run into the issues discussed here because gravity works on your behalf when it comes to plumbing. On the flatter elevations, many of us must deal with sumps and sump pumps.

For the uninitiated, sump pumps are those unseen submerged plumbing devices that hum along dependably for years, quietly defying the force of gravity by sending waste liquids upward enough that they are able to drain back down into either sewers or leach fields, never to be seen again. Sump pumps are a kind of Secret Service for your real estate investment, protecting your home in an unobtrusive manner. No sunglasses, perhaps, but just as reliable. No muss, no fuss…that is, if all goes well. When it doesn’t, you’ll know.

Believe me—you’ll know!

Sump pump malfunctions can result in flooded rooms and costly repairs. And it’s also true that sometimes you don’t learn about a sump pump misfire until it’s too late. A sump failure can be an irritating real estate problem whether you’ve just bought or are selling your Myrtle Beach home. As a rule, sump pumps are incredibly dependable…until they aren’t. The good news is that just following a few simple precautions will help ensure that you never open a door to discover any of your valuable belongings afloat.

First and most important: if the sump pump is part of a system that isn’t used very often, test it once a month by running enough water through the system to activate the pump. The pumps use float activators that can become stuck in place if not triggered for long periods.

If the pump does not activate (you’ll hear a faint humming sound when it goes into action), check for leakage at the sump pit where it is housed. If moisture is starting to seep up around the seal, it could be for one of several reasons:

• Electrical issues
• Debris in the impeller, switch or discharge line
• A stuck float
• Frozen discharge line
• Complete mechanical failure
• You can handle some of these problems yourself, such as carefully checking to make sure the electrical outlet is working. More ambitious
• DIYers can choose to open the seal to free a stuck float or remove debris—though more serious problems will require a call to the plumber.

If power outages are a regular occurrence, a backup pump can help you prevent sump pump disasters. A backup pump activates if the primary pump fails to clear the sump as usual.

Taking steps to avoid sump pump problems will help you avoid an indoor flood—something that’s a real estate plus when it comes to selling your Myrtle Beach home (particularly for buyers focused on the possibility of water damage). In any case, if you are preparing your home for sale this fall or winter, I hope you’ll give me a call!

When it comes to home sales, looks do matter.

Once a home comes onto the market, how soon it moves can depend on its location, design, quality of construction—not to mention how well it’s been maintained, the neighborhood, school district…it’s the sum of at least a dozen contributing factors. But when it comes to Myrtle Beach home sales, looks now matter more than ever before. Making sure a home is camera-ready could well be the most important single thing a homeowner can do before listing a house for sale in Myrtle Beach this fall.

It’s in the Numbers

The 2013 National Association of Realtors® survey found that a decisive 92% of all home buyers use the web to search for a home. That’s more than just a coup for your computer, it also points to something vital for Myrtle Beach home sales—something sellers can’t afford to ignore. Unlike previous generations of home buyers, the attention span of today’s online audience is miniscule. With comps (comparable listings: the competition) just a mouse click away, the success of home sales in Myrtle Beach is directly influenced by how eye-catching its online presentation is…whether it has what the ad industry calls ‘pop!’

Accentuate the ‘Good Sides’

Successful film stars and fashion models leave nothing to chance when it comes to photography. They know which angles accentuate their good sides. Likewise, photos that spur home sales don’t just show living room, bedrooms, kitchen, etc.—they highlight the most interesting features in ways designed to draw the viewer’s eye. For example, if a splendid dining room has to compete with a blazing sun during the day, it’s bound to be better shot at night. Ditto, any room with a sparkling chandelier. As for the exterior, if the siding is unremarkable but the new roof is gorgeous, angling the picture to emphasize the positive makes visual sense.

Up Close & Impersonal

Buying a home may be an intensely personal affair, but when selling one, photos are not the place to showcase a favorite collection or kids’ sports trophies. Make an effort to remove very personal objects before photography begins. One key to Myrtle Beach home sales is to transform your space (not too appealing to potential buyers) into a place they can easily envision being their own.

Cleaning Counts

In this era of high-res photography and lickety-split download times, a sparkling clean house is the mandatory starting point. Double-check that the house is devoid of dirt, stains, and even dust that might pick up the light. Although most small blemishes can be removed in editing, the less retouching that’s needed, the more natural-looking the result will be.

It’s important, for sure; but there’s no need to freak out about the photography. With an experienced real estate agent as your Myrtle Beach home sales advisor, you’re sure to snap a series of appealing shots that makes your listing stand out from the crowd.

Thinking of selling in this fall? Call me today to discuss how to come up with your home’s glamour shots—as well as the entire marketing plan! Trust in your Local Myrtle Beach Real Estate Experts at Plantation Realty Group to help you today! (843) 796-2111

Local homeowners are among the keenest observers of Myrtle Beach mortgage rates because they are such a large factor in the long-term investment that is their house. It’s the factor that determines if and when refinancing makes sense; the factor that plays a large part in heating (or cooling) the overall Myrtle Beach real estate market.

For the most part, home buyers simply accept the mortgage rate in Myrtle Beach that happens to be currently offered when they decide buy a Myrtle Beach home. The timing of their purchase is generally triggered by their own financial fortunes, or when the right home comes along, or when some outside circumstance forces them to find new digs—or any of a dozen reasons other than the current Myrtle Beach mortgage rates.

If they even consider how Myrtle Beach mortgage rates come into play, they may look to financial experts—but only for guidance in how to land the lowest available rates (and that answer is always the same: “protect your credit score”). Few consider whether a mortgage rate dip should in itself be the determining factor for triggering their home purchase—but it wouldn’t be such a crazy idea.

So, why do I bring this up now? Let me quote the way Tim Logan, the housing and residential real estate columnist for the L.A. Times, led off his article at the end of last month:

“If you’re borrowing to buy a house, there’s
almost never been a better time to do it.”

He and other residential market observers are not just pointing to the surprisingly low national interest rates reported by Freddie Mac—although that’s certainly the case. Per the Times: “Interest rates on an average 30-year fixed-rate mortgage hit 4.1% this week, a low for the year.” Only last year, the basement-level interest rate phenomenon was widely predicted to come to an end (and rates did begin to rise). But as Logan described it, rates have “been bouncing in the low 4% range for months, not quite record territory, but not far from it.” (I’ll echo that: at this point, they’re close to as low as they ever get.)

But perhaps the most compelling reason for the urgency in that “never been a better time” statement is this prediction (also from the L.A. Times):

“…fairly soon, forecasters say—interest rates
will rise, posing housing-market hurdles.”

The “hurdles” would be a natural consequence of any upward spike in mortgage rates. In that scenario, homeowners will become reluctant to part with their own home since a new mortgage would carry higher interest rates. Not just that: if that causes the supply of homes on the market to tighten, prices will do what supply shortages always cause—higher prices.

Such a scenario is far from certain. But what isn’t in doubt is today’s decidedly low Myrtle Beach interest rates. If all this has you thinking of buying or selling this fall, as the Times says, your timing couldn’t be better…an excellent reason to give us a call today! Trust in your Local Myrtle Beach Real Estate Experts at Plantation Realty Group! (843) 796-2111

Once you’ve made the decision to move—whether headed across the country or across town—you might think the automatic next step is to prepare to sell your current house. True, that has to get underway without delay…but there should be one intervening step—one which all too frequently gets short shrift.

The key decision to be made before you put your house on the market is just this: should you sell at all? The fact is, you may be in an opportune position to hang onto the property. To become a landlord. In case you have never considered the advantages and drawbacks to owning a Myrtle Beach rental home, you may be overlooking a worthwhile opportunity.

Before you decide whether the right sign to plant outside your home should read “For Sale” or “For Rent,” pause to consider some of the major Pros and Cons----

Pro: Long-term ownership

If you aren’t quite ready to say goodbye to your home, renting it allows you to make the decision at a later date. Managing your local rental home gives you the opportunity to watch its value appreciate before selling, or even to return to it yourself.

Pro: Potential savings

The housing market’s recent fluctuations aren’t typical, but for anyone who bought when housing prices were soaring and would now have to sell for less, the prospect would be disappointing. In those circumstances, turning your residential investment into a Myrtle Beach rental home can help avert a financial loss….

…AND…

Pro: Investment income

By way of taking that basket of lemons and turning it into a lemonade stand, RealtyTrac’s most recent study (July) of residential property rentals revealed a 9.97% annual return for residential property investors in the second quarter of 2014. In other words, in addition to covering your mortgage, monthly rent might bring in a profit…turning what looked for so long like a real estate loss into a money-maker.

Con: Landlord responsibility

When you don the landlord’s hat, you have to respond to any maintenance issues with your local rental home. In addition to incurring the expenses of maintaining your rental home, you also have to be on top of the problems that every homeowner knows about. If your move is to another city or state, that might require local assistance, which comes at a cost.

Con: Tenant wear and tear

If you plan to sell the home eventually, it’s probably in better shape now than it will be after your tenants move out. Some wear and tear is expected, but you can’t ensure that your tenants will leave the home in pristine condition. The security deposit doesn’t always cover all fixes.

Con: Management work

In addition to responding to maintenance issues with your rental home, you also have to attract and select appropriate tenants. You might opt to outsource this work to a property management company specializing in managing Myrtle Beach rental homes. Again, such a service takes a bite out of the monthly rental income.

Weighing the pros and cons as you evaluate your personal and financial situations will aid your decision on whether selling or renting best meets your long-term goals. In the meantime, call me anytime for a sales vs. rental pricing evaluation! Trust in your Local Myrtle Beach Real Estate Experts at Plantation Realty Group for all your Questions! (843) 796-2111

When you set about buying a home for the first time, the lay of the land can be a little tricky. It’s worth recalling some familiar sayings, like

All that glitters is not gold; and
Don’t judge a book by its cover; and
Appearances can be deceiving

Likewise, just as “doubletalk” isn’t twice as reliable as “talk,” in the Myrtle Beach home-buying vernacular, a “dual agency” transaction doesn’t necessarily involve twice as many Myrtle Beach real estate agents—it can involve just one (or two who are working under the aegis of a single broker).

This can become important for home buyers who sometimes make a strategic decision based solely on what seems like common sense. They see a Myrtle Beach home or a listing that looks promising, and make the assumption that they will get the best deal by going directly to the property’s listing agent—you know, to get all the information

Straight from the horse’s mouth!

Now in fact, real estate agents are responsible for carrying out a wide array of duties, including staging homes for sale; marketing them; showing the homes to buyers; aiding in negotiations, etc. The real estate agent who listed the property (aka the seller’s agent) is obligated to represent the interests of the seller. Makes perfect sense. And when a prospective buyer chooses to enter negotiations without their own agent to represent their interests, the listing agent remains duty-bound to represent the seller—but now the buyer, also. In the event of a conflict between the interests of buyer and seller, the real estate agent has to represent both—which, as you might imagine, can be tricky.

When you think about how attorneys and real estate agents are similarly duty-bound to their clients, you can see why it usually wouldn’t make sense for a buyer to forego separate representation. It would be like having the same attorney represent both sides in a negotiation. Also, since there is no additional commission charge for employing a buyer’s agent (commissions are customarily split between agents, with both being paid from the seller’s proceeds), most buyers decide that teaming with their own Myrtle Beach real estate agent will get them the best possible deal. After all,

No one can serve two masters!

Does that mean you as a buyer should never proceed with one Myrtle Beach real estate agent—in other words, make a ‘dual agency’ transaction? Not quite. Remember,

Never say ‘Never’!

In some cases, it does work out. For instance, if the parties are related (and have the same goals); or if every detail has already been agreed to; or if time is such an overriding factor that it trumps other considerations, then everyone can be well-served by a single real estate agent. In any case, as long as an agent is able to remain scrupulous in not violating any confidences, since each party has the chance to make their own decisions at every point in the transaction, nearly one in ten home sales does wind up as a single-agent transaction.

If you will be on the lookout for a new home in Myrtle Beach this fall, I’d be pleased to put my experience at your service to help find and negotiate the deal! Trust in your Local Myrtle Beach Real Estate Experts at Plantation Realty Group to help you with the purchase of your new home! (843) 796-2111

For just about everyone who will soon be preparing to list their home in Myrtle Beach, selling price is a principal focus. What price will this fall’s market support? How will that number affect the time it takes to attract serious buyers? Are there ways to maximize the ultimate selling price without squandering a lot of time and capital?

While there certainly are broad market factors that contribute to a Myrtle Beach home’s final selling price, there are others that can be controlled by the seller—and which do maximize the odds of bringing in top dollar. Some of the less-frequently used low-risk ways to add to a Myrtle Beach home’s selling price—

Additions without Adding

Room additions may be certain to increase value—but not necessarily without costing more (sometimes much more) than they add. While adding a second story or extending the ground floor of a home will add substantial value, the cost in time and budget (and frequently permitting hassles) can also be substantial. Where it’s possible, “adding without adding”— re-purposing existing space—is a far less expensive and easier way to add to that final selling price. The idea is to take an unused or underused space and transform it into something that adds appeal and utility. Common methods include renovating a basement or garage: turning it into an office, media room, or extra bedroom. The extent of such a project can go all the way from the most basic (flooring, paint, and other minor aesthetic improvements) to the most comprehensive (lighting treatments and other accents such as crown moldings and baseboard). One caution: the quality of any improvement should match that found throughout the rest of the house. Slipshod workmanship can actually diminish value.

More Bathrooms = Higher Price

Adding a full bathroom often requires reconfiguring an existing home’s frame—and that’s always costly. Instead of taking on the burden of adding a full bathroom, to get a selling price boost, Myrtle Beach homeowners can consider dividing the space of a large room to include a half-bath. While still a time and budget expense, adding a powder room can add significant value to the listing (and real convenience to the future homeowner).

Facelift (the Easy Way)

Curb appeal is all-important for adding to a dynamic first impression, both on the listing page and during the first visit. One underappreciated means of adding curb appeal and boosting the ultimate selling price is through simply updating the siding. It’s a “facelift” that can be completed quickly and at a relatively low cost— especially in comparison with more drastic changes like additions and whole-house window replacements.

Fall can be a great time to list a property before the holidays hit. If you’re thinking of selling your home and want to discuss the ways we can boost your Myrtle Beach home’s selling price, now is a good time to call me for a no-obligation consultation! Trust in your Local Myrtle Beach Real Estate Experts at Plantation Realty Group to help you! (843) 796-2111