Welcome to the Life In Myrtle Beach blog where we hope to provide a wealth of information for you, whether you will be vacationing in Myrtle Beach, making this your second home location or moving to the area and becoming a "local" yourself. Feel free to ask any questions you have and if I don't know the answer...I'll find it for you!

Being a Realtor, I'll have plenty of Real Estate news to discuss, whether on the local, state or national level...I feel this is an important part of any person's decisionmaking process when considering a move or a purchase in any particular area of the country. However, since I don't want to bore you with just a bunch of facts, numbers and endless listings of properties for sale, I do hope you enjoy the "fun stuff" I'll share, too!

Be sure to leave your thoughts and comments at the bottom of my posts and feel free to sign up with your email in the left column for blog updates. If you have a Gmail account or Yahoo, please sign up to be a member! I look forward to getting to know you!

Brought to you from Staci Smith at Phillips Realty

Thursday, October 11, 2012

Housing Recovery Finally Here

Great News from CNN Money report.  I know we've seen the signs around the Myrtle Beach area, with more buyers in the market and prices ticking up slowly in certain areas.  Condo sales are up almost 25% from this time last year!  Here is the article from CNNMoney...

Economist say Housing Recovery is Finally Here

NEW YORK (CNNMoney) -- It's been a long time coming, but economists surveyed by CNNMoney believe the nation's housing market has finally turned the corner.
Of the 14 economists who answered questions about home prices in the survey, nine believe that prices have already turned higher or will make that turn later this year. Only three months ago, half of the economists surveyed by CNNMoney believed a turnaround in prices would not take place until 2013 or later.
Economists have been encouraged by a variety of readings, including three straight months of increases in the S&P/Case-Shiller home price index, a pick-up in sales of existing homes and home construction and a big jump in the price of new home sales.
Mortgage rates are also likely to remain near record lows thanks to the Federal Reserve's purchase of $40 billion in mortgages a month for the foreseeable future.
"We're seeing the signs of a pulse in a sector that has been flat-lined for a number of years," said Sean Snaith, economics professor at the University of Central Florida.

Friday, May 25, 2012

Reasons to buy a home now....whether you're a first time homebuyer or looking for your Retirement home!

This could be the best time in a generation to buy a home. Here’s why:
Housing affordability is the best it has been in decades.

Nationwide, average home prices are approximately one-third lower today than at their peak in 2006.

The cost to buy is very often less than the cost to rent a comparable property. In fact, buying is cheaper than renting in 98 out of America’s 100 major markets.

Interest rates are at an historic low, and today’s low rates can be locked in for the next 30 years.

The general economy appears to be improving, with employment increasing, median wages rising, and little indication of possible inflation.
Overall, conditions indicate today may be the perfect time to buy a home.

Tuesday, December 20, 2011

A message from my broker, Linda Phillips...

Those of us who bought a home over the past five years or so, had no idea about the kind of economic upheaval that was going to follow. In fact, it appears that no one actually anticipated what was in store.
But here we are. An estimated one fourth of the mortgage holders in the country owe more on their home than its current market value. One out of seven are in some state of default or foreclosure. And possibly the most troubling statistic of all: the vast majority of homeowners who end up foreclosing on their home, do so without ever reaching out for help or attempting a short sale.
Here at Phillips Realty, we see it everyday, homeowners that just can't keep going. Unfortunately, sometimes they contact us after it too late to help or don't contact us at all.
As a Certified Distressed Property Expert (CDPE) it is my mission to help homeowners to avoid foreclosure and to get their lives on a positive path. If you or anyone you care about is faced with an unmanageable mortgage, please know that I am here to help. I invite you to visit my website or forward this link. http://hosted.cdpe.com/phillipsrealty
You'll find a copy of my most recent report entitled, "Need a Helping Hand? If your Mortgage and the Market Have Tossed You a Curve, You're Not Alone."
More help is available for financially distressed homeowners than ever before. This is no time to go it alone, and the time to contact me about getting on path toward financial stability is NOW!
Sincerely yours,
Linda Phillips

Tuesday, November 29, 2011

Myrtle Beach Market Stats...

Are you wondering what the market is like in Myrtle Beach?  Here are the stats for the past 3 months according to our local MLS system:

Single Family Homes:

Month     # Sold       Ave Sold Price     % of Change      DOM

Sept          367            209,298                                        181

Oct           351            214,647                  2%                199     

Nov          242            217,834                 1.5%             195


Month     #Sold       Ave Sold Price    % of Change      DOM

Sept         297           134,736                                          211

Oct          254           154,644                13%                  207

Nov        142            126,494                18%                 196                 

Monday, November 21, 2011

A Recent Newcomer from NY writes...

To follow is a letter contributed to this blog by one of my favorite New Yorkers who has recently moved to Murrells Inlet, just south of Myrtle Beach.  I have had a wonderful business relationship with Betty for a few years now and have always enjoyed her emails, as her personality and "flair" just shine through!  So, I asked her to write about a few things she is finding appealing about the area, since she has only lived here for about 3 months now, I knew she would have some insight.  Sounds like she has been a pretty busy lady, getting to know the area!  Thank you, Betty! 

Our move to Murrells Inlet came with retirement.  Leaving our home in Westchester County, NY after more than 35 years and a lifetime as New Yorkers was a bit overwhelming! What we found upon our arrival was "Camelot"!  

Life here in the Lowlands is just delightful! Wonderful realities like gas costing $3.08.9 a gallon compared to the $3.89 a gallon we were paying in NY. That is just one aspect of the financial blessing in our move.  Real estate taxes here in SC are one tenth of what they were in Westchester County.   

Shopping opportunities everywhere! From the Inlet Mall to Coastal Grand Mall and all the smaller stores in between, nevermind all the Outlets, which also are just a 15-20 minute drive north in Myrtle Beach. For my husband, he is thrilled to be so close to Home Depot and Lowe's.  

We have tried numerous restaurants in the area from the Marsh Walk on the Inlet, to those on the Intercoastal.  Sitting outside enjoying a delicious lunch with the warm sun shining on us and boaters drifting past us would be unheard of in late November in NY. Normal for us now!  

We loved going to plays in NY and found a small community theater right near us which was really good! Movie theaters are just minutes away. 

The weather since our arrival has been nothing but spectacular. We kept saying we will wait to finish unpacking when we get a rainy day. We keep going out and about enjoying the area or driving down to Charleston for the day. Well, the boxes are still packed as rain seems to be something that doesn't happen very often here in the Fall!  

Probably the best and most enjoyable aspect of living in this area has been the people! Everyone is so friendly and well mannered! Indeed it is a state of smiling faces! Wherever we go we feel welcome. We are not alone here in Murrells Inlet as most of our neighbors and acquaintances are from the North, Ohio, Michigan, Connecticut, NJ, Va, and good old New York. Everyone is very glad they made the move below the snow line!  

Life in our new area is totally relaxing and fun. No regrets at all in leaving our hectic pace in New York!

Rev. Robert and Betty Godley
Murrells Inlet, SC

Thursday, November 17, 2011

Attention Investors or Vacation Home Buyers...

To follow is a contribution from our mortgage broker, John Faiella, who is with First Trust Mortgage out of Pawley's Island, SC.  This piece is a synopsis of a Fannie Mae program which looks to be a great program for investors of rental property or vacation home buyers.  I've asked John to contribute to this blog  so that readers can gain the most up to date mortgage information available.  I appreciate him doing this for me, as changes happen in the mortgage industry so frequently and John does a great job keeping abreast of it all! 

Please leave your comments or questions below his post....

                               Great Investor Financing Program

        Just like all mortgage financing, loans for investors have become more challenging in the last couple years.  One bright spot though has been Fannie Mae’s Home Path program. 

Home Path is a loan program for homes that Fannie has foreclosed on and is putting on the market.  Investors are generally limited to 75% loan to value and scores above 720 with conventional financing.  However, Home Path will allow an investor with a 25% down payment to borrow with a score as low as 620.  If the investor has a score above 660, this person can put as little as 15% down with NO PMI.

In addition, properties are not limited to single family residences.  Within the Home Path program,  condos, 2-4units, and PUD are also included. Lastly, there is no appraisal required for this program. This reduces cost to the investor and potential road blocks in underwriting. This is a great program for investors, so take advantage while it last!

John Faiella
First Trust Mortgage
Phone: (843) 864-4253                              

Monday, November 14, 2011

Spotlight on The Market Common....

 The Market Common, Myrtle Beach, SC

From the time locals began hearing the buzz over the new dining, shopping and residential complex which was to be The Market Common, we were excited something like this was to come to the area.  Located just minutes away from the Myrtle Beach airport and only a couple miles to the sandy beaches of the Grand Strand, The Market Common is one of our area’s finest features! Through the development phase and building phase of this project, our excitement only grew as we watched it become a reality and today, we all find reasons to frequent this newly developed property and all it has to offer.

Whether it be our favorite restaurant, such my favorite, PF Changs, or a favorite shop such as Banana Republic or Tommy Bahama or the locally owned “Lazy Gator” shop, or maybe it’s the Barnes and Noble Bookstore where we enjoy perusing for a good book….there is just something for each one of us to enjoy around every corner of this fabulous destination!  If it’s a good movie you’re in the mood for, The Market Common also offers the “Grand 14 Cinema” where you can always catch the latest one you’ve been dying to see!

In addition to the shops, restaurants, movie theater, The Market Common is a favorite place for local charitable organizations and other businesses to hold events of all sorts!  Whether it’s a seasonal event or a “fun fundraiser”, there is hardly a weekend to go by that you can’t enjoy a little something extra and exciting! 

Here are just a few events being held over the following weeks:

                 November 18th 5p.m. – 8p.m.                  
Bijuju 1st Anniversary Celebration

           November 19th from 10a.m. – 5p.m.         
The Nutcracker Fair

            November 24th from 8a.m – 10a.m.          
Turkey Trot

                     November 25th at 5:30p.m.                      
4th Annual Lighting of the Tree

             November 26th from 11a.m – 2p.m.           
  Holiday Carriage Rides

And you may want to bring your kids to enjoy Breakfast with Santa...

November 26th from 9a.m. til 10a.m.          Tommy Bahama Restaurant

December 3rd from 9a.m. til 10a.m.             Gordan Biersch

December 10th  (Call for times)                   Nacho Hippo Restaurnat

December 17th  (Call for times)                    Travinia’s restaurant

As you can see, there is always something fun for everyone at The Market Common! How would you like to LIVE there and be within walking distance to all it has to offer?  Yes, there are plenty of homes available in and around The Market Common, which offers a lifestyle many are seeking.  The conveniences of having all this at your fingertips, to the activities you are sure to enjoy and living in this location, so close to the beach and the airport, well…these are all factors bringing many buyers to this massive complex.  If you’re looking for a single family home, a townhome, a condo or maybe even living above your Market Common business, there are plenty options for you!  For more information on pricing and options you’d like to find, please contact me at Staci@PhillipsRealty.com or call me anytime at (843) 238-8664.