Hot Neighborhoods in Murrells Inlet

The Murrells Inlet Real Estate Market is heating up as more home buyers are finding Murrells Inlet is a great place to live.  Who can blame them for wanting to be within blocks of the Murrells Inlet Marshwalk, Veterans Pier and great Murrells Inlet restaurants.  The area real estate market is definitely heating up with new homes going up just in time for the spring buying season.

New home listings in Murrells Inlet are certain to get the attention of buyers and the prime location of these Murrells Inlet neighborhoods should be part of any home buyers looking to purchase in the next few months.

Hammock Point ~ Located on the Southern tip of Murrell Inlet with 31 home sites and eco-friendly pervious streets.  New homes priced from $189,900 this new neighborhood is just a short bike trip to Huntington Beach State Park.  Some homes offer some of  the most pristine views of Murrells Inlet.  HOA $60 per month.

Murrells Inlet Village ~ Featuring new raised beach cottages starting at $169,900.  Located on the south end of Murrells Inlet just off the bike path and across from Graham’s Landing.  No HOA.

Mallory Trace ~ New homes starting at $179,100 in the heart of Murrells Inlet.

South Bay Village ~ New homes starting at $299,900 feature metal roofs, hardy plank siding, granite and hardwood flooring.  HOA $69 per month.  Located beside the Inlet Sports Lodge.

Creekside Cottages ~ Located just 1 block from the creek and Murrells Inlet Bike Path and Public Boat Landing has several 3 and 4 bedroom new homes starting at $273,000.  HOA $60 per month with a community pool.

With over 200 properties on the market for sale in Murrells Inlet there is something for everyone.  From condo units starting at $78,000 and single family homes starting at $69,900 call us today for help finding your Murrells Inlet home.  Copyright©2013 Sandra Bundy, Broker-in-Charge, B&P, Inc.  Serving the Grand Strand and Pee Dee South Carolina.

 

 

 

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.

 

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

Murrells Inlet Home Sales fall in January

Murrells Inlet home sales for January 2012 indicate a 26.5% drop for single family home sales when compared to January 2011 as the median sale price slid 20% over sale prices 1 year ago to $177,900.  While sale prices and number of unit sales showed decline the average number of days to sell homes showed some improvement over last year down to 182 days on market.  Distressed sales made up 36% of single family sales in Murrells Inlet last month increasing 6.6% compared to January 2011.

The MSP of $177,900 last month is also lower than January 2010 sale prices for Murrells Inlet while 2011 showed some improvements.  The averge sale price for homes in Murrells Inlet has indicated a steady decline in the last 5 years while median sale prices indicated more fluctations for January home sales during the period.

Statistics released today provided in the graph differ slightly from the Murrells Inlet data as this also includes Garden City homes in the compilation but does follow a similar trend.

Change in Median Sale Price in Murrells Inlet and Garden City

Please contact us for more information about your Murrells Inlet home value. Copyright©2012 Sandra Bundy, Broker-in-Charge, B&P, Inc.  Serving the Pee Dee and Grand Strand of South Carolina.

 

Who do you know that can use help avoiding foreclosure?

Foreclosure is not the only option

Since obtaining my real estate license in 2001 I have had my share of REO listings and knocked on doors informing the occupants mostly homeowners the news they didn’t want to hear.  I have seen abandoned and destroyed properties that the homeowner could no longer afford and left in the middle of the night months before the sale at the courthouse steps instead of staying to protect their property.  I also understand the reasons why some people leave rather than stay in the home they know they will lose because they cannot pay the mortgage.

In 2008 I started on a journey to reach out to troubled homeowners to explain what options might be available to help them stay in their home and opened communications with their lenders.  This week while I was completing my CDPE classes I came to realize the only way to truely help homeowners and the housing recovery in Murrells Inlet and along the Grand Strand is to ask everyone who they know that I can help avoid foreclosure?

The sad fact is many people that could use my help might never get it before it is too late but it won’t be because I am not looking for my friends and neighbors in Myrtle Beach to help me raise awareness of the programs that can keep homes out of foreclosure and in turn help all our property values.  Horry County boasts sunny beaches, golf courses and numerous other attractions but it also ranks 3rd in South Carolina in foreclosures and it is hurting all of us as long as we turn a blind eye to the problem by way of declining property values.

None of us are immune from job loss, medical emergencies, divorce or death that could potentially wreck our personal finances and ability to pay our home mortgage.    If it happens to you or someone you know remember foreclosure is not the only option and there are programs and resources available that might be able to help. Copyright©2011 Sandra Bundy, Broker-in-Charge, B&P, Inc.  Serving the Pee Dee and Grand Strand of South Carolina.

 

As a CDPE – certified distressed property expert –  I have received additional training in the avenues available to troubled homeowners and provide my services at no cost to the homeowner.  Contact me for a confidential consulation on possible options to avoid foreclosure.  If you would like to learn more visit our online resources website.

Know your options

 

 

Grand Strand Area Short Sales to Rise in 2012

Short Sale Listing in Myrtle Beach

According to the non-profit counseling agency CredAbility South Carolina ranks 9th in household distress with the overall distress at 63.9% for the third quarter of 2011.  Not surprising when the unemployment rate in SC for September at 11% ranking 5th highest in the US.  Homeowners that want to sell their home in this tough climate are more likely than not to owe more than their home is worth especially if they made their purchase during the housing boom in the Myrtle Beach area.  With no housing recovery in sight short sales along the Grand Strand are likely to rise next year.

In some of Myrtle Beaches newest neighborhoods sale prices declined 23% this past year and while real estate prices might appear to be holding steady for now any increase in foreclosures could have negative impacts on home values.   In May of this year the halt of foreclosures on owner occupied homes slowed down foreclosures but as work out options are exhausted foreclosures could increase.  Horry County already ranks among the highest in foreclosures in South Carolina.  A better option for Myrtle Beach area homeowners facing foreclosure is to consider a short sale.  Not only would a short sale help neighborhood home prices but it also allows homeowners to remain in control of the sale and move on.

Homeowners often overlook the option of short sales even if they have not experienced financial hardships however a short sale might be a good option especially where the owner needs to sale the property in a timely manner.   Increasing inventory and higher marketing time are evident in many neighborhoods and short sales could outpace foreclosures in the coming months which would certainly mean a winning outcome for area home prices in the Myrtle Beach area.  Copyright©2011 Sandra Bundy, Broker-in-Charge, B&P, Inc.  Serving the Pee Dee and Grand Strand of South Carolina.

If you would like a confidential consultation on a short sale of your home contact Sandra Bundy for more information.

Murrells Inlet Home Sales Trends for October 2011

Murrells Inlet Home Sale Data October

With 44% of single family homes sold in the Georgetown County portions of Murrells Inlet in October being distressed sales it is no surprise that the average sale price of $333,978 is down 10% from the same month last year.  The median sale price for Murrells Inlet homes marks over a 13% decline over October 2010 and much of the loss in value appears to be coming from the decline in home sale prices for the Garden City Beach vacation homes.

Over the last year only 3 of the 108 single family homes sold surpassed the million dollar sale price mark while there were 8 sales over $1 million in the previous year with one Garden City Beach home selling at over $2 million dollars in April 2010.  A majority of Murrells Inlet homes sold over the last year were in the $200,000 to $300,000 dollar range with 47 sales marking a 36% increase over the previous year and home sales below $199k also increased over the period.

New construction appears to be picking up in Murrells Inlet with several new homes at Boat House Run new the new Jetty View Project and the first home is also being constructed at Flag Pointe on Murrells Inlet Creek in addition to home starts across from the bike path at the southern tip of Murrells Inlet.  No doubt Murrells Inlet is a great place to call home and will be home to many new residents in the coming year as these new construction homes close to Murrells Inlet Creek, Marshwalk, bike path and boat landing are certain to draw a crowd. Copyright©2011 Sandra Bundy, Broker-in-Charge, B&P, Inc.  Serving the Pee Dee and Grand Strand of South Carolina.

If you need assistance with buying a Murrells Inlet home or have questions about your home’s value contact Sandra Bundy @843-902-7615 for more information.

Short Sale options for Murrells Inlet Homeowners

The recent announcement of a new plan to help underwater homeowners refinance home mortgages brings more light on the problems many area homeowners are facing due to declining values in Murrells Inlet and Grand Strand area home values. While interest rates remain at historic low levels many residents are unable to take advantage of the low rates which the new initiative promises to change however in some instances a short sale might be a more viable option especially if payments are out of reach due to unforeseen hardships.

No doubt home prices in some neighborhoods have fallen more than the 20% initially offered under the refinance program and allowing thoses who have lost more value should boost the programs effectiveness but for homeowners that have lost value and income a short sale could be the right alternative. Avoiding a foreclosure not only helps borrowers get out from under unaffordable housing expenses but it also helps to bring more stability to the housing market overall and costs lenders much less than foreclosure actions. An added benefit of a short sale is the ability for the homeowner to restore credit much sooner than would occur in a foreclosure situation.

It appears more lenders are filing deficiency judgements in foreclosure cases in the Myrtle Beach area and while a short sale may require contributions by sellers it is likely far less than would be required once the home is sold as a foreclosure. In a short sale the lender is going to recoup more of the loan and by working in cooperation with your lender and with the help of an experienced REALTOR the short sale process could be the right course of action for underwater homeowners. Copyright©2011 Sandra Bundy, Broker-in-Charge, B&P, Inc. Serving the Pee Dee and Grand Strand of South Carolina.

If you or someone you know if having difficulty making mortgage payments and would like to seek alternatives contact us today for a confidential consultation.

Are Murrells Inlet Home Prices Stabilizing?

Murrells Inlet home sale prices appear to be holding with a median sale price of  $240,175 for single family homes sold in September up slightly over the same month in 2010 when the median sale price was $238,416.  Along with the upward price trend the number of homes sold also increased in September with 40 single family homes sold in Murrells Inlet.  August Inlet home sales also showed an increase in median sale price so are Murrells Inlet home sale prices stabilizing?

The answer is they appear to be swinging upward but there is more to the picture than home sale prices since Murrells Inlet homes for sale also play a factor in where home sale prices might be headed for the remainder of 2011 and into 2012.  Currently there are 459 single family homes listed in the Murrells Inlet zip code and 85 with contracts but only 8 pending cash sales.  The active listings represent at least 1 years inventory and if listings continue to climb into the winter months when the number of sales typically falls we could see a less stable market going forward but for now Murrells Inlet home sale prices appear to be stable.

If you are thinking of buying a Murrells Inlet home start your search today! Copyright©2011 Sandra Bundy, Broker-in-Charge, B&P, Inc.  Serving the Pee Dee and Grand Strand of South Carolina.

 

Determining the Value of Your Murrells Inlet Home

As a REALTOR® that frequently provides Broker Price Opinions on area real estate I have plenty of practice when it comes to helping Murrells Inlet home buyers and sellers determining the present value of their home.  No I am not an appraiser but what I can do is provide a home market analysis based on sales activity in particular homes neighborhood to arrive at a fair market price.

A home market analysis is an important tool in helping both home buyers and sellers and should be used to help sellers when listing their Murrells Inlet home or buyers wishing to purchase a Murrells Inlet home.  Home sellers needing to sell in todays market must take market facts into consideration as with over 500 single family homes listed in Murrells Inlet at this time overpricing could greatly extend marketing time.

When I work as a buyers agent it is especially important for me to show them property that is in their price range but I can also point out others that are overpriced and help them make the best offer possible on the home they wish to purchase by using recent Murrells Inlet home sales of similar properties.  Please contact us for assistance with determining the value of your Murrells Inlet home or to work for you when you purchase your home in Murrells Inlet. Copyright©2011 Sandra Bundy, Broker-in-Charge, B&P, Inc.  Serving the Pee Dee and Grand Strand of South Carolina.