Murrells Inlet home sales Market Update

Murrells Inlet YTD Home Sales

With 361 single family home listings in Murrells Inlet the number of homes available for sale has increased over 57% the last 3 months.  No doubt there are many choices in the Murrells Inlet market area.  With the average sale price down 6.8% over the same period last year price declines appear to be slowing and with limited REO and Short Sale listings we might see more price improvements in the next 3 to 6 months.

The current YTD average sale price in Murrells Inlet is $237,947 with and average of 202 days on market.  While the average sale price is on the high side there are many affordable homes available in the Murrells Inlet area priced below $200k.  If you are looking for a Murrells Inlet home start your home search online today.  Copyright 2012, B&P, Inc. Sandra Bundy, Broker-in-Charge.

 

Call Sandra Bundy today for more information on buying or selling your Murrells Inlet home.

 

Shrinking home inventory ~ Is it a good sign for area home prices?

Murrells Inlet and Grand Strand area home listing inventory appears to be shrinking and with the lack of homes on the market home price recovery could be in order.  The problem with the lack of inventory is more likely a sign of underwater homeowners who might otherwise be listing their homes for sale.

With the tremendous growth in the housing market we experienced in our area in the boom when houses were selling at a premium it is difficult for many would be sellers to take lossess on their home values.  When home equity is lost homeowners stay put rather than sell and it could deter buyers from making a purchase.  On the flip side in a need to sell situation short sales will see more gains in the coming months and with interest rates at record lows buyers in the market should consider a puchase that makes sense for them.

Short sales require patience for the buyer and seller as there can and will be delays during the process.  With more programs being announced by lenders and streamlining the processes a short sale is a win win situation in many instances as unlike foreclosures the homes are being maintained and cared for by the owners until the day of closing.  Copyright 2012 B&P, Inc., Sandra Bundy – Broker-in-Charge.

For more information on Murrells Inlet Short Sales contact us or view these resources to see if a short sale is right for you.

 

New book on Murrells Inlet History ~ Release Date July 5th

For the past year longtime Murrells Inlet residents have pulled out their photo’s and stories for the soon to be published book “Murrells Inlet” that is part of Arcadia Publishing’s Images of America Series.   Steve Strickland has spent the last year soaking in both facts and likely many fish tale’s to complete the book that chronicles our little slice of South Carolina.

I for one can’t wait to see how the eyes of many who have lived in and love Murrells Inlet will be protrayed on the pages as I am sure this will be a wonderful tribute to this place many now call home.  Look for Steve on the Murrells Inlet Marshwalk to get copy in July.

Alex's Bait & Tackle Murrells Inlet, SC

Alex's Bait & Tackle circa 1950

Dead Dog Rising Again ~ Grand Opening Thursday

Out of the ashes and with amazing speed the new and improved Dead Dog Saloon will once again be open for business on Thursday at 11:00 AM after 12 weeks of construction.  Crews from A&I have been hard at work since the Febuary 22 blaze that destroyed one of my favorite spots on the Murrells Inlet Marshwalk.

I spent much of the spring longing to be sitting out on the deck by the creek with one of their tasty appetizers and a cold beverage watching the tide roll by.  Instead I watched from a distance as the building progressed and in the last 50 days playing the contest for the chance a the invitation only party.  Lucky for me I was winner #45 so me and my hubby get to join along with the other winners and friends and several hundred guests for what is sure to be a memorable occassion.

While the Pre-Grand Opening Party will be held on Wednesday the doors will opening to the public at 9:00 PM with Tru Sol on stage for everyone to get a chance to check out the “New” Dead Dog Saloon.  Really happy for Charlie and his crew and looking forward to spending many good times in the new digs.   Copyright©2012 Sandra Bundy, Broker-in-Charge, B&P, Inc.  Serving the Pee Dee and Grand Strand of South Carolina.

Banks offering homeowner relocation assistance on short sales

A new program introduced by Bank of America aims to help struggling homeowners that can no longer afford their home by offering enhanced relocation assistance payments for participating in a Short Sale Relocation Assistance Program.  Payments can range from a few thousand to as much as $30k for qualified homeowners.

Contact us for more information to help you avoid foreclosure and take advantage of this limited time offer from Bank of America.  Contact Sandra Bundy, CDPE 843-902-7615 for a confidential consultation.

 

 

Buying Murrells Inlet Homes with Renovation Financing

If you are looking to purchase a Murrells Inlet home but finding great properties that need repairs it can be difficult to obtain financing especially if systems need updating. Many home buyers are not aware that FHA 203K Renovation Mortgage is available with 3.5% downpayment with a one time closing.

Repairs can be made after purchasing the property and is a good option if you want to buy a Murrells Inlet home that needs repairs.

Selling Your Murrells Inlet Home

Spring is just around the corner and typically means Murrells Inlet home sellers get ready to place their home on the market in order to catch the wave of home buyers that look for homes so a summer move won’t disrupt the school year.  In an area like Murrells Inlet and the attraction from resort and second home buyers typical might not hold true for that rule but the spring and summer months look promising for Murrells Inlet real estate.

The rent versus sell decision should not be taken lightly especially if your original purchase was in the last few years and you fully intended to keep the property.  Rental units are in demand in Murrells Inlet and along the Grand Strand and while sale price declines appear to be leveling increasing values might not occur in the short term.  Location means everything and we can assist you with analysing your sell or rent senario or buy or rent if you are looking to buy a Murrells Inlet home.

This infographic has some great info for home sellers but don’t forget your REALTOR® can be invaluable when listing your home for sale or when you are looking to buy a home.  If you need assistance or have any questions about selling your Murrells Inlet home let us know as we are here to help. Copyright©2012 Sandra Bundy, Broker-in-Charge, B&P, Inc.  Serving the Pee Dee and Grand Strand of South Carolina.

 

 

Source: mint.com via Sandra on Pinterest

A Murrells Inlet Valentine

Romance fills the air today in Murrells Inlet as Valentine’s Day arrived on schedule.  So with all the love being spread around on this ‘special’ day for the loves in your life how about some love for the places where all the romance takes place?   A romantic dinner at home might not sound ideal for some but on the other hand can be just right especially if you consider that home is truly where the heart is and always will be.

Lucky for us we live in such a wonderful place and can love our Murrells Inlet home every day of the year.  Happy Valentines Day!

The Johnson sisters with the love's of their lives in Murrells Inlet circa 1950

Important reminders after buying a Murrells Inlet home

After buying a Murrells Inlet home it is important to make sure you are getting the full benefits afforded to home owners by way of making sure you have applied for 4% legal resident tax. As a general rule your closing attorney makes mention of this at the closing of your home purchase but many buyers fail to apply this benefit that can save hundreds of dollars off of yearly property taxes on your new Murrells Inlet home.

This 4% legal residents only applies for owner occupants and applications must be made at the county assessors office and is not automatic even if the previous owner was taxed at the 4% rate. I am amazed by the number of homeowners who do not apply for the 4% tax rate and end up overpaying property taxes year after year. For more information see Georgetown County Tax Assessor or Horry County Tax Assessor.  Homeowners should also consult with the taxing authority if they feel do not agree with the current tax assessment.

South Carolina law also allows for a homestead exemption for homeowners that are 65 years old or disabled that will help to further lower property tax bills on owner occupied homes.  This exemption for SC homeowners must be applied for and is not automatic and can exempt up to $50k of your homes value.

This information is not intended to be legal or accounting advise and is provided to help alert Murrells Inlet homeowners of potential property tax savings on owner occupied homes in Murrells Inlet.  Copyright©2012 Sandra Bundy, Broker-in-Charge, B&P, Inc.  Serving the Pee Dee and Grand Strand of South Carolina.

 

Outdoor living in Murrells Inlet

Two years ago we installed a salt water pool and replaced an unused concrete patio and pad that once was home to a storage building. While I love the addition of the pool we are in need of a yard crash and want to add more outdoor living space.

Like many homeowners we spent most of our time working on the inside of our home. With the temperate climate we enjoy in Murrells Inlet my next project is likely going to be an outdoor kitchen. Since our budget won’t allow for the hardscape right now we will need to start with the landscape.

In this real estate market we certainly aren’t looking for quick monetary returns with any of our outdoor projects. After all the pleasure we get out of our Murrells Inlet home can’t be measured in dollars and cents.